New Orleans, LA Real Estate News

By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
As we come to the end of the year, many sellers on the West Bank are trying to determine if and when they should adjust the price on their homes for sale. Your REALTOR®, I'm sure, has provided you with an updated market analysis of the sales prices in your particular neighborhood. However, have they provided you with an absorption report?An absorption report is a tool used to determine trends in your market. How many homes are for sale in the area? Note: Homes listed with an agent only - For Sale by Owners are not included in these reports.How long is it taking them to sell? How many have sold in the last 90 days? What price ranges are selling fastest? It is basically a bird's eye view of the supply and demand in your real estate market and is a way to do a spot check of current market ...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
Audubon Trace which was one of Jefferson's Parish first condo developments about 20 years ago is more popular than ever. Its close to New Orleans and in a corridor that is easy to travel in. Near Oschner Medical Center aand Elmwood Business Park. The condo fees and amenties are very reasonable. After Katrina some of the units sold for some very good prices "high". people were desparate for housing and paid some high prices. The high prices stayed high unitl a couple of months ago. The prices have become much more reasonable and there happens to be some very fair prices within the complex. There are several for under 200k and some nice units in the low 200k range. The demand will still be here as its a hard location to beat and not much to compete against. The area has little crime and t...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
New Orleans French Quarter Condos are unique in many ways. One of those ways is that you never know what is behind the gate that opens on the street. This is a good example of a condo that I sold last year. It was totally rodone in detail to look like it would have 200 years ago. The Historic Commission is very strict in what you can do with properties in this area. Parking is very tough since many of these buildings pre-date cars by 100-150 years. This unit has a great courtyard, you can open your French doors as the unit was a townhouse style with two exits to balconies with plenty of light. Its just another example of what you might find if you could see how people really live in this area of town.                                  917 Toulouse CondosVieux Carre Resort PropertiesFrenc...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
Winter, such as it is in New Orleans, is creeping up on us.  Daylight savings time has ended and the days are so much shorter.  When it's dark by 6:00 pm, I feel like the day is over and I just don't want to do much of anything.   Sometimes you just want to curl up on the sofa with a loved one and watch a movie.  Either the latest Hollywood hits on DVD or those old faithfuls...you know, the movies that are guaranteed to bring a smile to your face or a tear to your eye.  In Algiers, the only movie rental place to see and be seen at is Blockbuster, located in the Village Aurora Shopping Center at 4100 General de Gaulle.  Blockbuster has something for everyone, including all of the popcorn, candy and sodas you would find at the theatre...but at a much better price. Who needs to cook?  With...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
  Our friends with the Sunshine Club of Algiers will be having their annual Turkey Bingo Tuesday Night, November 20, 2007.   What the heck is Turkey Bingo, you ask?  It's the same as a regular bingo game, but when that lucky winner yells "BINGO", instead of cold, hard cash.....they win a turkey!  Disclaimer:  the turkey is NOT cooked...we can't do everything for you! Turkey Bingo will start at 7:00 p.m. at Holy Name of Mary School at 502 Olivier Street in Algiers Point.  Bingo cards are only $1.50 each Children are welcome to join in the fun Food, sweets and drinks will be available for sale A raffle will be held This event is a fundraiser for a great cause.  The Sunshine Club hands out food baskets for the needy in Algiers during the holiday season, amongst all the other things they do...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
With the holidays fast approaching, the electronics stores will be hustling and bustling, churning out TVs, DVDs, digital cameras and laptops.  Personal electronics are on the wish list for everyone from kids to grandparents.  Once you have all of those shiny, new toys where do you put them and how will you use them?  I have a home office that I used to spend most of my time in.  Computer, printer, scanner, fax...all of the tools of the West Bank real estate trade.  I painted it a warm, chocolate brown color and installed French doors, a new fan and window blinds.  It was a wonderful space.  Slowly, but surely, the rest of the family begin creeping in on "my space".  First it was my husband and his karaoke computer.  Then it was the kids when we purchased a separate computer for them.  ...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
The spotlight this week is on the Tall Timbers subdivision in Algiers.  Bounded by General de Gaulle, Woodland Drive and the Intracoastal Waterway, the Tall Timbers neighborhood has much to offer home owners.  Located only 3 miles from the Crescent City Connection, 6 miles from downtown New Orleans and less than one mile from Our Lady of Holy Cross College, living in Tall Timbers comes with multiple benefits. An active Garden Club An active Homeowners Association, with affordable dues of only $80 every 6 months ($160 per year) Home of the Dwight D. Eisenhower Elementary School, located near the center of the subdivision   The Collins Park Bird Sanctuary is located near the middle of Tall Timbers subdivision, next door to Eisenhower school.  A peaceful respite sponsored by the Tall Timbe...
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By Chris Smith
(Prudential Gardner Realtors)
There is tremendous activity in rebuilding and refurbishing all over New Orleans.  The overall attitude of the people is to rebuild the city to be better than it ever was in the past.   You can see this happening as you drive through even the oldest sections of town that did not received any flooding.  There is a tremendous effort to spruce up homes that sustained very minimal damage plus all the construction that is going on all over the city. The Times Picayune reports that central New Orleans property values have risen 49.1% since August 2005.This is also the perfect time to buy a home that needs to be renovated for a great bargin. We are seeing many people already taking advantage of the many opportunities to make a profit from refinishing a home. It helps our city to rebuild and is...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
   I had a wonderful travel opportunity this month and made a short, whirlwind visit to London, England.  What a beautiful city!  Museums, historic churches, the Thames, the Tower of London, Big Ben and more.  While there, we took a coach (bus) tour of Windsor Castle, Stonehenge and the town of Bath, which I would highly recommend to anyone visiting.    Stonehenge is an incredible sight to see.  Surrounded by the English countryside, the stones rise up against a backdrop of pasture and sky.  There are many theories about the origination of the monument.  Was it a place of worship? A temple?  A guide for astronomy?  As we walked the path circling the stones, I could hear other visitors chatting about the origins.  What was this space used for?  Why did they put that particular stone ther...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
The St. Elizabeth Condos located in Uptown New Orleans at 1314 Napoleon several blocks from St. Charles Ave. are one of my favorites because they combine the Old World charm in a residential neighborhood filled with history. The Oak trees and wide neutral ground are a perfect setting for these luxury condos. You have the exposed masonery, high ceilings, large windows, shutters, iron work, columns, unique porches, fireplaces, 8 foot doors, iron gates, beveled glass door, and detailed work inside and out. The interior finish work is a great blend of old and new. This is one of my favorite projects and has some great units especailly in the front portion. Someone  even redid the church which is part of the complex into a condo. I have never sold one but did get close to selling one several...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
The condos at 3201 St. Charles Ave. are a perfect example of an apartment conversion of the 1960's turned into condos. There are very few historic features to the condo complex. It however has a great address, gated parking and seem to be well maintained. The units all open onto a courtyard that has a pool, fountain, and plenty of room to roam. Many of the units are still very dated but some have been updated. The units are owned by longer term owners. It is a long walk to the downtown area. I had one listed in the complex in 2006 and the owners would walk to the downtown area every morning as a way to get exercise. There are more photos on my website New Orleans Condos where you can get some additional ideas. These units will end up being one of the less expenisve types in the uptown m...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
The Commodore Condos are an excellent choice for those wanting a small condo with parking on St. Charles Ave . The Historic building gives you another look of the New Orleans Condo Market. The 1920's apartment complex  has that historic feel yet is young by New Orleans Standards. The studios and small one bedrooms have all been updated and begin in the 140's. The location makes it an ideal place to start if you are a student or starting your first joy in downtown New Orleans. You are 30 blocks to downtown and about 30 blocks to Audubon Park, Tulane University and Loyola Univ. Ride the streetcar to work or school and leave your car at home. The Uptown New Orleans Lifestyle gives you a true New Orleans feel.                               Commodore Condos3300 St. Charles AveUptown New Orle...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
  At this time of year, when we are all counting our blessings, I think it is important that we should also take the time to remember those less fortunate.  What if your blessings did not include a roof over your head or a place free of violence?  What if the smallest, necessary items were unavailable to you?  What would you do?  Where would you turn?    The Latter & Blum Algiers office, in support of a local battered women's shelter, is collecting small toiletries to donate.  These items are always needed by the shelter...many women come to them with little more than the clothes on their backs. You know you have a drawer full of shampoo, conditioner, small wrapped soaps and other goodies from hotels hiding somewhere in your house.  Or those perfume and makeup samples that came along wi...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
  Algiers Applebee's Reopened!After being absent from the Algiers restaurant scene since 2005, Applebee's on General de Gaulle had their grand reopening on November 12, 2007 at 11 am.  Staff hiring and training has been going on for the last few weeks and I personally know a few neighborhood teens who have gained their first entry into the working world with the reopening of this restaurant.  I'm thrilled to see another dining option in Algiers.    Speaking of dining...I had the pleasure of utilizing one of our locally owned businesses to cater an open house for me recently.  Rusty Camus, the owner at The Bar B Q Place, prepared some delicious pulled pork, along with some very tasty cole slaw and potato salad.  He was kind enough to allow me to pick up my order before the restaurant was...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
The New Orleans downtown condo market has all types and ranges of condos for your taste and price range. The 625 St. Charles Ave condos are an example of relatively new Construction in a great location with the Warehouse District. Its across the street from a nice park surrounded by by the federal courts. You are on the Street car line that runs right in front of the building. The units do vary in taste as many initial owners bought the empty shells and finished the insides themselves. Your average sales price is going to be in the 550k range and up depending upon the insides. If you are in the Luxury market this should be on your list to view.625 St. Charles Ave. Condos, The Luxury Segment  625. St. Charles Ave Condos across from Lafayette Park 625 St. Charles Ave Condos are the upper ...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
New Orleans Warehouse District Condos have some unique and wonderful courtyards that add to the amenties of living in the area. I have pictured a couple of the better courtyards below. Most have pools and tropical greenery. It will rarely ever freeze in these courtyards and you can enjoy them year round. These are also some of the features that make these units popular as New Orleans second homes in the area. The Cotton Mill Condos has a 25,000 sq. ft courtyard that covers the entire interior of the Old Mill tthat was built in 1896. The Federal Fibre Mills Condos was a 1900 rope factory that has one of the best courtyards in the area. It was converted into condos for the 1984 Worlds Fair and remains one of the most popular complexs in the Warehouse District. The Courtyard at 801 Saint J...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
When housing prices begin to get beyond the reach of familes and their wages then housing prices level off in most markets. The sub-prime rates were tying to get around this fact. It comes back to what people can afford. I know there are some areas like New York and San Francisco defy this logic but the places in middle Americia this still is true. As housing prices drop people will begin to be able to afford more of a house. One thing that is missing from the current market is the buyer wanting to move up. They stay put because they cannot sell their homes in order to do so. Once this segment moves back inot the market things will begin to pick up to a certain degree. Maybe not like the bubble areas. Its easy to find a nice home in the New Orleans Metro area for 200k or less. Wages are...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
I am always suprised by new and old client not knowing what condo fees cover. I made a list that is posted below on my webstie New Orleans Condos. There will be some differences in all the fees but in New Orleans Condos the condo fees cover Insurance, flood Insurance Upkeep, Water, and the various amenties that that association has. The Insurace in a big expense for Condo associations in this market. However the insurance alone on a home will be more than what condo fees are for the totla package. This fact has made condos are more viable option. Homeowners Insurance can easily run you $300 per month while finding condo fees below this number is easy. Not all Condos fees are equal so you need to know what they cover and how much is in the condo reserves. Now having enough money on had w...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
The Tracage Condo developement is going to give the New Orleans Warehouse District a boost as it breaks ground. The Tracage Condos High rise project is going to fill a need in the Luxury high rise market which has not seen a new developement in many years. By being new it fills a void in the market as some people will wnat to be in a high rise building with great city and fantastic Mississippi River views. It should help the entire area develope and set a standard for others who follow. New Orleans has not had a bubble in the condo market the the Tracage will fill. People in New Orleans are very skeptical and have not been great fans of pre-sales units to date. I cannot wait to see the ground breaking  and the cranes move in as the project gets underway. Most of the Riverview units have...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
West Bank market update for Algiers and Algiers PointOctober sales volume (number of single family homes sold) has declined from the 2006 level of 52 homes sold to 38 homes sold in October of 2007, a 27% decline in the total number of homes sold during the month.   It should be noted, however, that this is a 27% INCREASE over the number of homes sold in September 2007, indicating an upswing in market activity.           Conventional loans remain the preferred method of financing a home purchase, accounting for 71% of the home purchases in 2007, up from 67% in 2006.Average sale prices in Algiers and Algiers Point have declined from $169,754 in October 2006 to $158,461 in October 2007, a decrease of 7% in average sold price.           Average days on market for October 2007 was 99, an 86%...
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