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Spike in 'recently damaged' homes for sale in Livingston Parish

4 months 3 days 6 hours ago September 16, 2016 Sep 16, 2016 Friday, September 16 2016 September 16, 2016 6:31 PM in News
Source: WBRZ

DENHAM SPRINGS – In one of the area’s hardest hit by August’s historic flooding, many homes are for sale.

There are so many homes, realtors have now created a new category to identify them:” recently damaged homes.”

“We have investors that want to come purchase some houses, so that’s a way to find them,” Ginger Maulden with the Board of Realtors said. “Most of these homes that are in this category have been gutted or treated.”

Maulden says that some buyers are looking to live in the damaged homes, but most are investors coming in with cash.

“The best way to go about this is to pay with cash,” she said. “That’s how most of the houses are going for sale. The damaged homes are going to be for cash investors.”

More than 80 homes are in the new “recently damaged” category, with more popping up every day. The Board of Realtors excepts a lot more flood damaged homes will go on sale next month after owners compete the FEMA application process.

Maulden said many homeowners will decide to sell or rebuild based on how much money they receive from FEMA.

“I think there is definitely going to be a spike of houses on the market,” Maulden said.

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