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.

 

Mandeville is one of towns of Louisiana; geographically wise, it can be found across the lake from the famed New Orleans. When it was first created, it was known as a large agricultural center. However, it has branched out into service goods and various other economically stimulating areas. 

One thing that is significant about Mandeville, Louisiana is that its location has been hit by a significant number of hurricanes, in most recent years there has been an increase in natural disaster occurrences surrounding the Gulf region. In many cases, the damage from the hurricanes is caused by the surge of water after the initial hurricane, which caused damage to a number of the houses; one of the most recent and catastrophic hurricanes that cause destruction to Mandeville LA real estate was Hurricane Katrina. 

 

Mandeville, like many other coastal regions of Louisiana is desirable because of it’s rich cultural history and beautiful surroundings. But even Mandeville realtors know that water damage and serious issues regarding natural disasters will occur in this region. Mandeville relators are often honest about the drawbacks of living in the region, and can help to find insurance policies to help alleviate financial burdens caused by the natural disasters and overall costs. 

Mandeville LA real estate has an average listing of around $300,000 at the present time, but because of the houses that have been foreclosed on, the median sales range is significantly lower. Overall, Mandeville is a relators’ challenge, when it comes to sales in this economy.