Gayle Causey

For the past couple of weeks, people in Monroe and West Monroe have been watching the Ouachita River even more than usual. Why? Because a beautiful 2-unit condo building is about to COLLAPSE into the River!

For those of you who are not from this area, the Ouachita River was extremely high for several weeks. This caused the river bank to become totally saturated. When the river began to go down, the bank became unstable.

Officials report that the river bank has failed in numerous places along the course of the Ouachita, but it's too expensive to repair. It would take a couple million dollars for EACH location to be shored up and/or stabilized. Can you imagine?

The unlucky owners of this building were able to save their belongings, but both units will be in the river soon. It's just a matter of time. By the way, there's a small wood house behind that tree to the right that will be going into the river soon, too.

Here's a shot of the high water a few weeks ago. I wish I had taken one of the area where the condo is located, but I had no idea of what was to come!

I'll keep you posted as the situation unfolds.

Gayle Causey, 318-614-5615
Keller Williams Realty
Monroe, LA USA
http://GayleCausey.com

"FORECLOSURE RATES ARE RISING" That's the headline you will likely see. DON'T PANIC! Louisiana's foreclosure rate is still very low.

Louisiana ranks #39 on the list. For the first 6 months of 2009, our state had 5,160 foreclosure filings. That converts to 0.28 percent of housing units (one in 360). States with the highest rates report one in 16 in Nevada and one in 30 in Arizona.

RealtyTrac collects data from every state and most couties or parishes to generate their reports.
From the RealtyTrac Report:
"Nevada, Arizona, Florida post top state foreclosure rates
More than 6 percent of Nevada housing units (one in 16) received at least one foreclosure filing in the first half of 2009, giving it the nation's highest foreclosure rate during the six-month period. A total of 68,708 Nevada properties received a foreclosure filing from January to June, an increase of 23 percent from the previous six months and an increase of 61 percent from the first half of 2008.

Arizona registered the nation's second highest state foreclosure rate in the first half of 2009, with 3.37 percent of its housing units (one in 30) receiving at least one foreclosure filing, and Florida registered the nation's third highest state foreclosure rate, with 3.08 percent of its housing units (one in 33) receiving at least one foreclosure filing.

Other states with foreclosure rates ranking among the nation's 10 highest were California (2.94 percent), Utah (1.46 percent), Georgia (1.42 percent), Michigan (1.34 percent), Illinois (1.31 percent), Idaho (1.26 percent) and Colorado (1.25 percent)."

You can see the whole thing on the web at
http://www.realtytrac.com/ContentManagement/PressRelease.aspx?channelid=9&ItemID=6802

This map shows the hot spots across the USA

We have such an active arts community in northeast Louisiana, and the Rose Theatre in Bastrop is one of the jewels of the Delta! Formerly a movie theatre, the Rose was transformed several years ago to begin a new life. Since then, it has been the site for many plays, most that you would never expect to see in such a small town.

Jekyll and Hyde is the latest musical production to be offered. Opening Friday, it features 25 actors with talented vocalists and surprising special effects.

The story is about Dr. Henry Jekyll, a brilliant young doctor and scientist who embarks upon a quest to isolate the dual elements of good and evil that are constantly struggling for supremacy inside every human being. I'm not sure of his success. :-)

This play is not suitable for young children, but mature audiences will love the songs and sets. Bastrop is only 20 minutes from Monroe, so don't miss it!

Showtimes: 7 p.m. Friday and Saturday; 7 p.m. July 24 and 25; and Sunday matinees at 2 p.m. July 19 and 26. The box open will be open from 1-4 p.m. Thursday-Saturday through the run of the show.

Gayle Causey
http://GayleCausey.com
Keller Williams Realty, Monroe, LA USA
318-614-5615

This article was in The News Star today. Real estate pros know this already, but it's nice to see experts telling the story!
Gayle Causey, 318-614-5615
Keller Williams Realty, Monroe, LA
http://GayleCausey.com
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Louisiana housing prices up from last year

By Mike Hasten • mhasten@gannett.com • July 12, 2009

BATON ROUGE - Add the price of housing to the list of ways Louisiana is bucking the national economic trend.
The Local Market Monitor, a national real estate market assessment firm, says Louisiana is one of only five states to show an increase in home prices in the past year. With a 3.1 percent gain, only New York (3.88 percent) and West Virginia (5.27 percent) outpaced Louisiana's housing market gains.

The report ranks four Louisiana cities - Shreveport, Monroe, Alexandria and Lake Charles - among the top 10 housing markets with a population of 600,000 or less. Lafayette, however, experienced the worst housing price drop in the state.

The report shows that while the Housing Price Index nationally fell 10.2 percent, Louisiana's overall HPI rose 3.1 percent.

The Lake Charles Metropolitan Statistical Area led the state with a 2.09 percent gain in its HPI for the 12-month period leading up to April 2009, while the Shreveport-Bossier City MSA showed a 2.06 percent increase. Monroe's HPI was 1.82 percent, followed closely by Alexandria with 1.81 percent.

New Orleans did not make the Top 10 ranks among larger housing markets, but it did report a 1.67 percent gain. Baton Rouge recorded a slight drop (-0.54 percent).
Phil Hoffman, president of the Louisiana Home Builders Association, said in an interview that this is another example of how Louisiana is bucking the national economic trend.

"Louisiana's homes have not lost value," he said. "We here in Louisiana are faring so much better than most states. It's not that we're totally isolated. Have we got challenges? Surely, we're facing them every day. But there are good signs for homebuilders."

The combination of a federal stimulus of an $8,000 break for first-time homebuyers and people who haven't owned a home in three years and low interest rates is spurring the comeback, he said.

The federal break is available to single persons who make less than $75,000 and couples making less than $150,000.

"When is the federal government ever going to give you money before they take it?" Hoffman laughs.

One of the things that strengthens the Louisiana market, he said, is "Louisiana never had a high rate of foreclosure."

In his monthly column, the LHBA president said the price comparisons "can fluctuate from month to month, but overall Louisiana continues to be among the nation's more stable housing markets. That's good news for homeowners who have made their homes their biggest investment.

"It's also good news for persons wishing to invest in a new home - you can do so without the fear of losing value on your investment," he said.

Don't miss this cool event this weekend--the Living Garden
Fountain.

When: Friday, July 10--2 pm, 3 pm, 9 pm and 10 pm and
Saturday, July 11--10 am, 11 am, noon and 1 pm.

ELsong Garden, 2000 Riverside Drive, Monroe, LA.
Admission free.

Check out this video link. http://www.thelivinggarden.com/thefountain/video.html

After watching the video, I know I won't miss this unique
performance. It looks BEAUTIFUL!

See you there!

Gayle Causey, Realtor
Relocation Director
Keller Williams Realty, Monroe, LA USA
Cell: 318-614-5615
http://GayleCausey.com