New Orleans, LA Real Estate News

By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
  Warehouse District Market Update                             Warehouse District Condos Update- Summer of 2008      Business has really taken off in the last month.  There is a natural turnover of unit this time of year.  Its a favorite place for young professionals starting new careers and well as medical students, residents, and other college students looking for places.  The rental market has become rather tight making it harder to find reasonable rentals.  The second home buyer has also come back into the market especially for second home buyers in the last 8 weeks.     The second home buyers this year are opting for the two bedroom in the 300k range.  The second home condo buyers are looking for units that have been updated, have amenities and have parking or parking easily acces...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
New Orleans second homes, New Orleans Condos fit the bill in the French Quarter, Warehouse District and Uptown. Buyers returning!      Second home buyers are returning to the New Orleans Real Estate market in the Spring and Summer of 2008.  Several Years ago second homes were mainly to be found in the New Orleans French Quarter.  Now the Warehouse District and Uptown are also favorite spots depending upon the lifestyle that the buyer desires.  The prices remain most expensive in the French Quarter, then the Warehouse District and then in the Uptown area of New Orleans.  Condos have been the choice for most second home purchasers.      This was not the case the past 2 years following Katrina.  Now all of a sudden people are aggressively looking in the areas where they want to be.  Prices...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
This month's best performing area on the West Bank was the City of Gretna, which showed a huge improvement from the April numbers.  For details about home sales in your West Bank community, please read the following reports:   Algiers, LA 70131- May 2008 Home Sales and Real Estate Market Report Algiers, LA 70114- May 2008 Home Sales and Real Estate Market Report Algiers Point- May 2008 Home Sales and Real Estate Market Report English Turn- May 2008 Home Sales and Real Estate Market Report       City of Gretna, LA- May 2008 Home Sales and Real Estate Market Report Terrytown and Gretna, LA- May 2008 Home Sales and Real Estate Market Report         Belle Chasse, LA- May 2008 Home Sales and Real Estate Market Report Harvey, LA- May 2008 Home Sales and Real Estate Market Report Marrero, LA- ...
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By Darryl Glade, New Orleans Real Estate
(RE/MAX N.O. Properties)
New Orleans Real Estate Market Report (Condos) April 2008 This report focuses on Condos in New Orleans. April 2008 - 893 condos for sale in New Orleans. April 2007 - 955 condos for sale in New Orleans. 47 condos sold in New Orleans in April 2008. 59 condos sold in New Orleans in April 2007 . The average price for sold condos was $277,000 in April 2008. The average price for sold condos was $256,000 in April 2007. The average days on market for sold condos was 128 in April 2008 The average days on market for sold condos was 91 in April 2007. New Orleans Real Estate (Condos) Report March 2008 You may also be interested in: New Orleans Real Estate - The Definitive Blog ______________________________________________________________ This New Orleans real estate condo market report was provid...
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By Darryl Glade, New Orleans Real Estate
(RE/MAX N.O. Properties)
New Orleans Real Estate Market Report - April 2008 This report focuses on Single Family Homes. April 2008 - 2020 properties for sale in New Orleans. April 2007 - 2463 properties for sale in New Orleans. 249 properties sold in New Orleans in April 2008. 287 properties sold in New Orleans in April 2007 . The average price for sold properties was $199,000 in April 2008. The average price for sold properties was $196,000 in April 2007. The average days on market for sold properties was 101 in April 2008 The average days on market for sold properties was 88 in April 2007. New Orleans Real Estate - Market Report Feb. 2008 You may also be interested in: New Orleans Real Estate - The Definitive Blog ______________________________________________________________ This New Orleans real estate mark...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
I have sold a lot of  condos in The Cotton Mill Condos in the New Orleans Warehouse District.  Sales seemed to be stagnant for the last 2-3 months.  In the last 3 weeks a lot of the units have sold.  From first hand experience we have sold 4 condos in the last 10 days.  Lost one in a bidding war that had been on the market for at least 6 months. The Cotton Mills Update June 2008     You have several that will not sell at their current prices but the ones that were well priced and updated have been moving briskly.  You can call this a selling streak as real estate is still very seasonal in nature.   All of a sudden people are there to purchase!!! New Orleans Condo Trends.      Of the 29 units for sale this month , 14 units are under contract that I know about today.  There are several go...
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By Darryl Glade, New Orleans Real Estate
(RE/MAX N.O. Properties)
New Orleans Real Estate - Part 8 - Home Buying Guide - Closing This is Part 8 of my exclusive New Orleans Real Estate Home Buying Guide. Welcome to my final installment of my New Orleans Real Estate Home Buying Guide! WooHoo! This is the part when you sign on the dotted line and get the keys to your new house. I guess it is a bit more complicated than that...but it is a very straight forward process. So what goes in to a closing? In New Orleans, we typically use a title company to execute our closings. Most lawyers are able to complete a closing but the title companies are so well versed in real estate closings that their rates are typically much cheaper. How do you choose a title company? Your buyer's agent will have knowledge of the local title companies and will be able to suggest th...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
This Sunday, June 1st, is the official start of the 2008 Atlantic hurricane season, which means that all of the talking head newscasters will be predicting doom and gloom for the entire Gulf Coast region until November.  There will be footage from Katrina played over and over again and "experts" will give their opinions on how active they think the storm season will be.  Since they are rarely correct, I can't figure out how they get this gig year after year. Most of us now have those plastic tubs filled with all of the things we would want to bring with us in the event of an evacuation of the city.  Family photos, marriage licenses, school records.  Maybe even a pre-paid credit card or some cash stashed away (you do remember that ATMs don't work when there is no power, right?).     One ...
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By Darryl Glade, New Orleans Real Estate
(RE/MAX N.O. Properties)
New Orleans Real Estate - Part 7 - Home Buying Guide - Inspections This is Part 7 of my exclusive New Orleans Real Estate Home Buying Guide. Congratulations! We have found your perfect home and negotiated a great contract. You are now under contract! Now what...? You have already begun the financing process so keep that train moving by letting your lender know that you are under contract. After that, we have inspections to complete. The inspection clock in ticking. In New Orleans, we typically have around 14 calendar days to complete our inspections. Remember, the inspection process is very important because if you find something completely wrong with house, you can get out of the contract...you won't be able to if you find things wrong after the inspection period. When you buy a piece ...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
I spend so much time living, breathing and writing about West Bank real estate that sometimes I forget one of the most unique cities in the world lies just a few short miles from my front door.  So it was fantastic to spend Saturday night in downtown New Orleans on date night with the hubby and another couple of friends. We started with cocktails at a downtown loft, just down the street from Lucy's, an iconic New  Orleans bar that is great for people watching.  Sitting on the rooftop patio, we could see other downtown dwellers outside on their patios too...grilling dinner, visiting with friends or just enjoying the evening breeze.  Note to self:  a small loft might be just the ticket to keep any of the kids from moving back home.   The wonderful thing about downtown New Orleans is that ...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
The sales and interest in the French Quarter have begun to pick up in the last 8-10 weeks.  The better units are beginning to sell.  There has been a lull in sales since Katrina as many of the condos are used for second homes and weekend retreats for the locals.  Now people are looking again as the prices have moderated. You can visit my blog and iste to get some more details. 1228 Royal Street Blog.        The Condo unit #7 we just listed is one that is priced right and ready to be sold.  There a 6 units under 200k with a minimum of 500 sq. ft., getting below this number you are getting a motel room sized unit.  None are on one of the Quarters most famous streets as is this one.  Everyone knows you will not buy the first one you see but this one should be seen and shown.  It may fit yo...
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By Darryl Glade, New Orleans Real Estate
(RE/MAX N.O. Properties)
New Orleans Real Estate - Part 6 - Home Buying Guide - Offer Strategy This is Part 6 of my exclusive New Orleans Real Estate Home Buying Guide. Strategy...How are we going to best position our offer to get you the house? This part of my home buying guide will focus on the price, terms, and conditions that make up offers. We will use these items to specifically create the best offer for the situation at hand. Leverage. Buyer's leverage is basically the amount of bargaining power a buyer has based on specific information surrounding the property. How badly does the seller need to sell? How badly does the buyer need the house? Is is a buyer or seller's market? These are just a few questions that can affect the amount leverage a buyer has. I am really just talking about who holds the power....
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
Are you getting ready for the long Memorial Day weekend?  Planning that backyard BBQ?  Before you fire up the grill, be sure to check out these grilling safety tips from the Home Safety Council.   When you're not hard at work cooking over open flames, here are some other great things to do on the West Bank of New Orleans:   Toy Train Show My experience with trains is limited to Thomas the Train and the track my husband bought one year to go around the Christmas tree that scared the cat.  If, however, you are a train aficionado, check out the Toy Train Show this weekend at the KC Hall in Gretna, LA.  Saturday from 9 am to 5 pm.       Gretna Farmer's Market Every Saturday from 8:30 am to 12:30 pm, the farmer's market gears up with local vendors selling produce, arts and crafts, music and ...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
One of the casualties of Hurricane Katrina was the city sponsored curbside recycling program.  Before the storm, I faithfully filled my little blue bin and placed it by the street every week for the recycling truck to come by and empty.  Did I make a real impact?  In a city that measures the success of an event by the tons of trash produced, probably not.  But it sure did make me feel better to know that at least some of the garbage produced by my family wasn't ending up in a landfill, taking up space better used by other items that could not be recycled.   One of my pet peeves is the huge number of plastic grocery bags I accumulate.  With 2 kids still at home and 2 that come by to visit often, I buy a lot of groceries.  Lots of groceries = lots of those plastic bags.  More than I have ...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
4239 St. Charles Ave Unit F $185,239 Top windows look out onto St. Charles Ave.       The Hawthorne Condos located at 4239 St. Charles Ave near Napoleon Ave. is a great example of a 1930's apartments converted into condos.  Its location is hard to beat on New Orleans Premium Avenue and Street car route halfway between downtown New Orleans and Audubon Park.      The 16 units are all the same size and divided into units off the stairwells.  The secure common areas are gated fromthe public as you enter from St. Charles.  The garage is secure and you can walk for the garage to your unit via a stairway that opens into your kitchen.  The bottom floor is all garage parking and storage units for each of the condos.     The condos all have plenty of windows with the front units having the most ...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
Here we are at the middle of May already and it's time again for the monthly absorption reports for the West Bank of New Orleans. The best performing West Bank communities this month are all in Jefferson Parish.  The top three selling areas are Marrero, Westwego, Terrytown and unincorporated Gretna, while Algiers and English Turn are bringing up the rear.    Algiers English Turn: May 2008 Real Estate Absorption Report Algiers, LA 70131: May 2008 Real Estate Absorption Report Algiers, LA 70114: May 2008 Real Estate Absorption Report Algiers Point: May 2008 Real Estate Absorption Report     Gretna and Terrytown Gretna and Terrytown, LA: May 2008 Real Estate Absorption Report City of Gretna, LA 70053 : May 2008 Real Estate Absorption Report       Other West Bank Communities Belle Chasse, L...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
     The New Orleans French Quarter is never at a loss for unique photos and historic homes.  This French Quarter double shotgun home was one we passed last week going to a listing appointment.  The house itself was unique but the hanging baskets and flowers blooming in the late afternoon sun defined curb appeal.   It takes a lot of time, effort, and love to maintain these homes and then decorate them with seasonal flowers for all of us to enjoy.  You can enjoy them with me.     Need to thank Lana Sackett the co-lister on the property we were visiting for letting me take these photo detours for which I am famous.  But I am also known for finding a good parking spot so things even out.   New Orleans is a great walking city in the cool months of march, April and May before the Summer heat...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
Don't forget about the Gatsby Dog Second Line Parade in Algiers Point!  The fun starts this evening at 5:30 at the Algiers Ferry Landing, with a doggie and owner costumed second line parade through the Point.  A benefit for the Louisiana SPCA, there will be food, music, kids activities and more.   West Bank Theatre Joey & Mary's Irish Italian Wedding continues its run at the Teatro Wego Dinner Theatre.  Audience participation is encouraged during this comedic wedding and reception with a whole cast of characters.  Shows at 7:30 pm on Friday and Saturday and a matinee performance on Sunday at 2:00 pm.  Visit the Jefferson Performing Arts site for more information and tickets.     Gretna Farmer's Market Rain or shine, you can always count on the farmer's market for your fresh, locally gro...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
A recent article in City Business magazine states that foreclosures in the Louisiana real estate market rose 70% from the 4th quarter of 2007 to the 1st quarter of 2008. One in every 944 households in Louisiana received a foreclosure filing in the first three months of this year. That’s well below the U.S. rate of one in every 194 households, according to an online foreclosure database. Irvine, Calif.-based RealtyTrac’s first-quarter 2008 U.S. Foreclosure Market Report lists 1,938 Louisiana properties with foreclosure filings, an increase of 70 percent from the fourth quarter of 2007 and 31 percent from the first quarter of 2007.  Read the rest of the article here.  Although this is a drastic increase, Louisiana is still ranked #37 in the nation for foreclosures.  (Finally, a low rankin...
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By Matt Piazza
(Total Home Inspection Service)
Asphalt shingles,the most common type of roof shingle used in this country.Made by impregnating mats of fiberglass or organic flet materials such as rags ,paper,and wood pulp,with asphalt covering one surface with granules.Granules give the shingle color and protect it from damaging sun rays.The projected life span of asphalt shingles are seventeen to twenty-two years.The signs of an aging roof are dry,brittle,cracked,chipped,and curled.If you see any of this signs I would recommend that a roofing contractor evaluate and repair.A little roofing information from your New Orleans area Home Inspector.Matt Piazza Total Home Inspection Service 504-421-7440
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