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Lafayette Housing Market
Posted on 2/16/16 at 12:35 pm
Posted on 2/16/16 at 12:35 pm
I'm interested in potentially buying a rental property in the Lafayette area. My thinking is I can find a good deal with the oil industry in the dumps right now. Anybody have rentals in the area that can provide feedback? Or anyone more connected to the real estate market there? Thanks
Posted on 2/16/16 at 12:59 pm to Grits N Gravy
I would wait a little longer. The fun is just getting started
Posted on 2/16/16 at 1:11 pm to Grits N Gravy
There is going to be 100+ houses going into preforeclosure in the next 60-90 days from what I have been told recently. The foreclosure process in LA can take years though due to being a judicial state so those houses won't be on the market anytime soon. The current repo inventory is down over the previous years until those houses actually move past 90 days past due into foreclosure proceedings but that just tells you there is going to be more supply than demand as more people fall behind and try to sell and avoid foreclosure.
My thread on the way things are trending
My thread on the way things are trending
This post was edited on 2/16/16 at 1:23 pm
Posted on 2/16/16 at 1:49 pm to Grits N Gravy
you'd be buying while prices are still relatively high. I'd hold off.
Posted on 2/16/16 at 8:04 pm to Grits N Gravy
The market for buying a rental in Lafayette is really no different than 1 or 2 years ago. Houses below $200k have seen little to no change in activity. If your goal is to take advantage of the oil and gas layoffs then you need to wait.
This post was edited on 2/16/16 at 8:11 pm
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