by Lane Duplechin | Property Values, Real Estate Expert
Introduction The world of real estate can be a labyrinth of terms and procedures that the average person may find overwhelming. One term you may have heard but not fully understand is “condemnation” in the context of real estate appraisals. What is Condemnation?...
by Lane Duplechin | Property Values, Real Estate Expert
Are older stales still relevant in residential appraisal reports? The answer isn’t as simple as black and white. In this article, we’ll explore the nuances of using older sales in appraisals and debunk the common misconceptions surrounding their...
by Lane Duplechin | Property Values, Real Estate Expert
When it comes to appraisal reports, many of people have a tend to fast-forward to the final value estimate, akin to flipping to the end of an intriguing book to uncover the ending. However, the true value of an appraisal report extends far beyond the final number; it...
by Lane Duplechin | Property Values, Real Estate Expert
A home appraisal is a crucial part of various financial transactions and situations involving your property. It’s essential to understand the basics of the appraisal process. It’s possible you may believe the appraisal result does not accurately reflect...
by Lane Duplechin | Real Estate Expert
Home appraisals play a crucial role in the real estate market by providing an unbiased assessment of a property’s value. However, misconceptions about the appraisal process can lead to misunderstandings and complications. This article aims to debunk some...
by Lane Duplechin | Property Values, Real Estate Expert, Uncategorized
When it comes to the home buying and selling process, understanding the difference between a home appraisal and a home inspection is crucial. Both serve unique purposes and play important roles in ensuring a successful real estate transaction. This article will...
by Lane Duplechin | Real Estate Expert
The value of your property plays a critical role in life-changing financial decisions, making it crucial to obtain the most accurate and reliable appraisal possible. While certification is the minimum requirement for an appraiser, it does not guarantee the level of...
by Lane Duplechin | Property Values, Real Estate Expert
Sales volume in March increased by 26% compared to February, which is a typical seasonal trend for this time of year. Despite this increase, average and median sales prices remained stable month over month and continue to be higher than average. Additionally,...
by Lane Duplechin | Property Values, Real Estate Expert
When it comes to determining the value of a property, there are several tools available, including comparative market analysis (CMA), an appraisal, and online valuation tools offered by websites like Zillow. Each tool has its strengths and weaknesses. ...
by Lane Duplechin | Process, Real Estate Expert
If you’re in the market to buy or sell a property, you may have heard the term “appraisal” thrown around. But what exactly is an appraisal, and why is it important? In this blog post, we’ll dive into the basics of the appraisal process and help...
by Lane Duplechin | Uncategorized
Check out our snapshots of residential sales data across the Acadiana parishes for the month of February For all the parishes combined, sales volumes were about 18% higher than January but still 33% lower than February last year. Average and median sales prices...
by Lane Duplechin | Property Values, Real Estate Expert
Appraisers select comparable properties, or “comps,” to help determine the value of a subject property. By analyzing the sale prices of similar properties, appraisers can estimate the market value of the subject property. It’s crucial to take into...
by Lane Duplechin | Successions
An appraisal is often needed for succession purposes to determine the fair market value of a loved one’s property. This is necessary for estate settlement and inheritance purposes. This is important because the value of the property may be used to determine...
by Lane Duplechin | Divorce Appraisals, Uncategorized
Divorce is never an easy process, and dividing assets can be especially challenging. One of the most significant assets that often need to be divided is the marital home, and determining its value can be a crucial step in the process. In this article, we’ll...
by Lane Duplechin | Uncategorized
🚨 The sales to list ratio for Acadiana is trending lower and currently stands around 92%. This indicates homes in the area are selling for around 8% less than their original list price. This shift the market means that buyers have more bargaining power and greater...
by Lane Duplechin | Market Update, Property Values, Real Estate Expert
Check out our snapshots of residential sales data across the Acadiana parishes for the month of January. Overall, sales volumes fell in comparison in last month. Average and median sales prices are trending lower again this month. The sales to list ratio is widening...
by Lane Duplechin | Property Values, Real Estate Expert
In some areas, data collectors are hired by appraisal management companies (AMCs) to complete the home/site visit. These data collectors are not certified appraisers. Background checks and adherence to strict professional and ethical standards are required for...
by Lane Duplechin | For Sale by Owner, Property Values, Real Estate Expert
An appraisal may be just what you need to get that property sold QUICK while still maximizing your PROFIT! Overpricing (and underpricing) can be risky! The Acadiana real estate market has seen massive changes over the past few months. Appraisers study the market...
by Lane Duplechin | Market Update, Real Estate Expert
Take a look at this snapshot for residential sales in Lafayette parish. The sales data is presented by price groups and shows a comparison of 2021 vs 2022 (year to date). ➡️ The $150-250k range is still the largest category but decreased in 2022. ➡️ Cumulative days on...
by Lane Duplechin | Property Values, Real Estate Expert, Uncategorized
Parish and city property tax statements for 2022 were recently sent out. A nice little present for homeowners as we enter this holiday season! Ba-humbug! 😂 Property taxes are calculated by the local assessor’s office. There are several factors that go into...
by Lane Duplechin | Uncategorized
Volume During October, there were 431 residential sales in the Lafayette MSA (referred to as “Acadiana” here). The number of sales were down 10% as compared to September and down 18% as compared to October last year. Sales volume is continuing its downward decline...
by Lane Duplechin | Property Values, Real Estate Expert
Appraisers make adjustments to comparables to account for differences between properties. Adjustments reflect the incremental value buyers are willing to pay for specific features. Adjustments are MARKET SPECIFIC!!! There is NOT a one-size fits all dollar value for...
by Lane Duplechin | Uncategorized
The Louisiana Bankers Association (LBA) is hosting an Appraisal Compliance Seminar in Baton Rouge today. Lane had the honor to serve as a panelist for the residential appraisal discussion. . Appraisers from around the state discussed topics including: State of the...
by Lane Duplechin | Property Values, Real Estate Expert
Our focus is always on providing a great experience for our clients and business partners. As silly as it sounds, we strive to be the Chick-fil-A of the appraisal business. This means we’re going to make efforts to meet and exceed your expectations. We’re...
by Lane Duplechin | Uncategorized
We’re going above and beyond the continuing education requirements ! In 2019, Lane received his SRA membership designation from the Appraisal Institute. The designation required months of studying and passing rigorous exams. Within the Acadiana region, he is 1...
by Lane Duplechin | Uncategorized
It may be difficult to know if you have a “good” appraiser. A quick Google search or Facebook post may not tell you much about the appraiser’s knowledge, experience, or quality of work. Whether or not we are your appraiser, we want you to...
by Lane Duplechin | Uncategorized
Key takeaways: 🔑 Less sales than in August, to be expected due to seasonality 🔑 Average and median sale prices a little lower than last month 🔑 Days on market similar to August & very close to the average last year (Sep 2021) 🔑 Sales-to-list ratio continues to...
by Lane Duplechin | Process, Property Values, Real Estate Expert
It’s important that you know what’s going on during the appraisal process. Lenders, agents, homeowners, and buyers all play a vital role.👫 We try our best to keep everyone informed. We have a friendly staff available to answer your questions and keep you...
by Lane Duplechin | Uncategorized
Your home’s current market value could qualify for PMI (private mortgage insurance) removal. Don’t count on your lender reaching out to you! Monthly savings could be real $$$ in your pocket. Hire your own appraiser!!! The lender may opt for the cheapest...
by Lane Duplechin | Process, Real Estate Expert
One of our key priorities is leveraging technology and data. . Modernization of the appraisal industry is underway. .Our clients have so much to gain with these advances! Utilizing technology and data provides the most reliable, efficient, and secure services. ....
by Lane Duplechin | Home Values, Property Values, Real Estate Expert, Uncategorized
Appraisers make adjustments to comparables to account for differences between properties. Adjustments reflect the incremental value buyers are willing to pay for specific features. 📣📣📣Adjustments are MARKET SPECIFIC!!! There is NOT a one-size fits all dollar value...
by Lane Duplechin | Uncategorized
💥36% of active listings in Acadiana have had a price drop💥 We’re monitoring stats like these weekly. These stats give us insight into how sellers (and buyers) are adjusting their expectations to the changing market. 📊This graphic shows parish by parish detail....
by Lane Duplechin | Uncategorized
One of the common ways we monitor market stats is parish by parish. This graphic shows how each market behaves a little different. While the end of the 3rd quarter is about 15 days away, we can still gather some good info on the general direction of the data....
by Lane Duplechin | Home Values, Property Values
In most situations, not really! Dirty dishes in the sink, toys in the living room, clothes on the floor are part of daily life for most of us. Appraisers are trained to look past these types of personal property. Their focus is on the permanent fixtures such as walls,...
by Lane Duplechin | Property Values, Real Estate Expert
Appraisers use bracketing to select comps with features and characteristics that are both inferior and superior to those of the subject property. . The goal is to attempt to bracket all features that require adjustments. Features may include items such as...
by Lane Duplechin | Home Values, Property Values, Real Estate Expert
Home valuation tools like these simply use algorithms and generic data to “guess” your home’s value. 🏠 Automated systems do a poor job of valuing qualities and characteristics that are intangible. Fresh paint, remodeling efforts, quality building...
by Lane Duplechin | Home Values, Market Update, Property Values, Real Estate Expert, St. Martin Parish
The real estate market is constantly changing. If you are thinking about listing your property for sale, purchasing a property, or going through a divorce/estate settlement, it is important to have the most up-to-date information. Here are a few graphs and charts...
by Lane Duplechin | Real Estate Expert
Lane explains what to expect when the appraiser visits your...
by Lane Duplechin | Real Estate Expert, Uncategorized
We’re sharing a quick welcome video! We’d like everyone to know who we are and what we...
by Lane Duplechin | Process
Real estate appraisals typically involve an on-site property inspection. The appraiser will schedule an appointment in advance with the homeowner or real estate agent. During the site visit, the appraiser will generally make observations, take pictures, and measure...
by Lane Duplechin | Real Estate Expert
Simply stated, a sale is a property that has sold. A comparable, commonly referred to as a “comp”, is a recent sale that a reasonable buyer would consider as a good substitute for the subject property. Not all sales can be considered comps! A house that sold down...
by Lane Duplechin | Home Values, Process, Real Estate Expert
Each appraisal is unique, but the overall general process tends to follow three general steps. Ultimately, the final opinion of value is what many people want to know, but the process to reach that final value is detailed and thorough. Here’s a brief overview of...
by Lane Duplechin | Home Values, Market Update, Real Estate Expert
April 12, 2021 Summary: Market continues to remain strong.Sale prices and sale volumes are continuing to increase.Days on the market are showing significant declines.2021 has started strong. As most of you probably already know, the Lafayette Parish residential real...
by Lane Duplechin | Home Values, Market Update, Real Estate Expert
The Lafayette market has been very strong over the past 12 months. Even with a global pandemic, the housing market is strong. I have attached a few charts and graphs for my most recent Lafayette market update. They will show how the market has been performing over the...
by Lane Duplechin | Uncategorized
(NERD ALERT) I have been working with new software to develop more dynamic and interactive charts. You can click on data points within the chart to see the stats at that time or for a particular location. I have included a couple of preliminary charts. Feel free to...
by Lane Duplechin | Market Update, Uncategorized
New listings have started declining over the past several weeks. New pending properties have been stable, with the exception of two weeks ago. We have just seen the highest number of closed sales in one week since I have started tracking data on a weekly basis. The...
by Lane Duplechin | Market Update, St. Martin Parish
All of the metrics in the year over year data are moving in a favorable direction. Year to date data is indicating more of an unfavorable change than the year over year data. Although difficult to see, the red trend line is moving in a favorable direction. The red...
by Lane Duplechin | Uncategorized
Year over year data indicates that the values have declined approximately 3.0% for Iberia Parish Year to date shows most of the metrics are changing in a favorable direction. Year to date (Ending June 30th) the total number sales have declined in Iberia Parish Year to...
by Lane Duplechin | Uncategorized
The Lafayette Parish Housing Market Summary: It would seem likely that a global pandemic and a decline in the oil and gas industry would cause our real estate market to slow down dramatically. On the contrary, interest rates are now so low that they are offsetting...
by Lane Duplechin | Property Values, Uncategorized
Takeaways: •The market is rebounding after the initial slow down •The number of new pending sales is similar to pre-pandemic numbers •New closed sales are still down, but this should change in the weeks to come •The median sales price is improving year over year •Year...
by Lane Duplechin | Home Values
February 6, 2020: An updated look at the Lafayette Parish Market indicates the market is still stable; however, slight changes are being observed. Was January a busy month for you? Based on the number of properties sold, it most likely was for Realtors and...
by Lane Duplechin | Uncategorized
Have you recently been told you qualify for an appraisal waiver? Or, a value acceptance? While it may sound like great news, there’s a lot more going on behind the scenes—and it’s important to know how this decision impacts YOU. During a recent podcast, a...
by Lane Duplechin | Guide for Real Estate Professionals
As appraisal waivers become more prevalent, buyer’s agents are taking on a crucial role in helping clients make informed decisions on one of the most significant investments of their lives. While appraisal waivers serve as a tool for lenders to assess risk, they do...
by Lane Duplechin | Guide for Real Estate Professionals, Real Estate Expert
Think of MLS data as the unsung hero of real estate success. As a Residential Real Estate Appraiser, I’m here to shed light on how so much of the information in your MLS listing does more than just describe a property to make a sale–it fuels accurate...
by Lane Duplechin | Guide for Real Estate Professionals
Real estate appraisals for lending purposes encompass more than just determining a property’s market value. They also involve assessing safety, soundness, and structural integrity. This article explores these aspects, detailing the appraiser’s role in...
by Lane Duplechin | Guide for Real Estate Professionals
For real estate professionals, understanding appraisal requirements for heating systems is essential, particularly for properties financed through FHA, VA, or Fannie Mae loans. This guide provides key insights into these requirements, emphasizing safety considerations...
by Lane Duplechin | Guide for Real Estate Professionals
Understanding how to define a bedroom and its impact on property value is crucial in real estate. This guide delves into not only the key factors that determine a room’s classification as a bedroom but also explores how additional bedrooms influence property...
by Lane Duplechin | Process, Property Values, Real Estate Expert
Are older stales still relevant in residential appraisal reports? The answer isn’t as simple as black and white. In this article, we’ll explore the nuances of using older sales in appraisals and debunk the common misconceptions surrounding their...
