Louisiana is a region that has always been appealing because of it’s rich, cultural aspects. It is a conglomeration of various different cultural influences, set in a beautiful, southern area. Real estate in Louisiana is one of the most desired, and risk endeavors, because of the Hurricanes, and general damage caused by natural disasters.

Louisiana real estate, traditionally, has always been a challenge for real estate agents. The reason this is so is because of the serious weather conditions which impact the overall status of the state. In particular, coastal areas have suffered massive damage because of Hurricanes. However, on a purely monetary side, it has become one of the regions hardest hit by the collapse of the economy.

 

Lafayette Real estate is generally located on the outskirts of the city of Lafayette. This region is desired because it is in commuting distance, but gives relief from the city at night. On the highest scale, houses are on the market for millions of dollars in Lafayette, but because the economy is so poor and credit is almost inaccessible, the most common area of housing purchases are less than $200,000.

 

Mandeville is located right across from New Orleans, and has been the recipient of serious damage caused by hurricanes of the past, namely Hurricane Katrina. This has made the housing market an already hard sell, because, though beautiful, there is a high risk factor of natural disaster damage in the area. But with the serious strain of the economy, the prospects of selling property in this region are even more dismal.

 

Monroe is a smaller city in the northeastern section of Louisiana. It is a location in which the housing market is more of a suburban one, and one where commuting is the preferred avenue to get to work. This area, like all others has had significant issues regarding the housing market, because of the strain of the economy. Houses sell in Monroe for around $100,000. And there has yet to be a sign of increase.

Lafayette is a city in the state of Louisiana; one of the main features of the city is that it is a retail hub for other towns surrounding the city. It is home to a large mall, various manufacturing businesses, and small business companies. Another important attribute is that it is one of the main tourist areas because of it’s superb Cajun and creole cuisine, and cultural aspects that surround the area.

 

Regarding the Lafayette housing market; there is a significant gap between the highest echelon of housing prices, and the average housing prices on the current market. Lafayette real estate listings do show houses on the market for over 7 million dollars. However, this is for more of a mansion style house on the outskirts of Lafayette. The average Lafayette real estate market is for those who are working within the city, but choose to live outside of it or within the border.

There are more single-family houses on the market regarding these particular areas. The average Lafayette real estate listing for this area is around $150,000 to $200,000. However, because of the foreclosures, the housing median price is expected to be significantly lower. Overall, it is important to keep in mind that economic hardships have fallen on all businesses, including the real estate market, and because of this, it is harder for people to get credit to buy houses. This cycle of low housing prices, and further increase in foreclosures is causing an even higher gap regarding the real estate market.

Louisiana is one of the southern states of the United States; at it’s southern point, it is met by the Gulf of Mexico. Geographically speaking, it is located near Texas and Arkansas. Louisiana’s capital is Baton Rouge; however, it is more famous for New Orleans, which is a cultural epicenter of the state, and is a large tourist attraction during Mardi Gras. 

Topographically, Louisiana has many hills, and various other types of land. It is also considered to be subtropical and is relatively humid. One of the largest drawbacks of Louisiana’s situation in the Gulf is the occurrence of Hurricanes, which have cause significant damage to many houses and Louisiana’s real estate. 

 

Louisiana real estate, like all other real estate markets throughout the United States, is in tumultuous state at the moment. LA real estate has taken many hard hits between the economy and the damage caused by hurricanes, dissuading prospective buyers from purchasing housing in the more coastal regions. Hurricanes happen every year and Louisiana is one of the states that is situated within the path of destruction. 

Though precautions are taken to protect the housing developments, Hurricane walls and various other procedures can only withstand a specific amount of force. With the recent occurrence of more powerful hurricanes, more damage is being done each time. Take these issues, and pair it with the economic struggles of the nation, the Louisiana coast real estate market does not have an advantage, at any rate. LA real estate, though now very affordable, cannot be purchased because of credit issues, and is still viewed with apprehension regarding natural disasters.