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New Orleans, LA Real Estate News

By Darryl Glade, New Orleans Real Estate
(RE/MAX N.O. Properties)
New Orleans Real Estate - Top 10 Tips/Steps to Sell Your House 1. Commitment - You must be committed to selling.  In today's market, you will be competing with sellers who want or even need to sell and if you have a take or leave it attitude you will NEVER sell your house. 2.  Field a Great Team - Hire a great Realtor. Remember, not every Realtor is for everyone.  The top producer may not be the one for you. Feel free to interview a few Realtors until you find the one you believe can best represent your interests.  How will they market your New Orleans property? Will they aggressively market on the Internet? Do they create videos? Do they answer the phone when you call? Are they responsive to your needs? 3. Prepare your House - Buyers tour houses looking for reasons to NOT buy them. Try...
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By Darryl Glade, New Orleans Real Estate
(RE/MAX N.O. Properties)
New Orleans Real Estate (Condos) Market Report February 2009 This market report focuses on Condos in New Orleans. February 2009 - 709 condos for sale in New Orleans. -16.6% February 2008 - 850 condos for sale in New Orleans. 20 condos sold in New Orleans in February 2009. -48.7% 39 condos sold in New Orleans in February 2008 . The average price for sold condos was $252,000 in Feb. 2009. -10% The average price for sold condos was $280,000 in Feb. 2008. The average days on market for sold condos was 128 in Feb. 2009. -9.2% The average days on market for sold condos was 141 in Feb. 2008. You may also be interested in: New Orleans Real Estate - The Definitive Blog ______________________________________________________________ This New Orleans real estate condo market report was provided by ...
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By Darryl Glade, New Orleans Real Estate
(RE/MAX N.O. Properties)
New Orleans Real Estate Market Report February 2009 This market report focuses on Single Family Homes. February 2009 - 1893 properties for sale in New Orleans. -6.1% February2008 - 2015 properties for sale in New Orleans. 113 properties sold in New Orleans in Feb. 2009. -42.9% 198 properties sold in New Orleans in Feb. 2008 . The average price for sold properties was $177,000 in Feb. 2009. -1.1% The average price for sold properties was $179,000 in Feb. 2008. The average days on market for sold properties was 111 in Feb. 2009. 8.8% The average days on market for sold properties was 102 in Feb. 2008. You may also be interested in: New Orleans Real Estate - The Definitive Blog ______________________________________________________________ This New Orleans real estate market report was pro...
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By Alicia Lagarde-Craig, Realtor, New Orleans, LA
(Keller Williams Realty New Orleans)
The ‘Pathway to Homeownership’ Soft-Second Mortgage Loan Program offers soft-second home mortgage loans through participating lenders up to $65,000 at 0% interest with payments on the loan deferred until sale or refinance. In addition, the program offers up to $10,000 closing cost assistance when buying a home that will be your principal residence. The actual amount of the soft-second loan and closing cost grant received will be determined by need and annual household income, since the goal of this loan program is to cover the ‘gap’ between the highest affordable first mortgage loan for which you qualify and the purchase price or value of the home. The minimum amount of the first mortgage loan must be equal to at least 50% of the lesser of the purchase price of the home or the appraise...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
New Orleans Interest Rates Drop to New Lows! 4.6% What does that mean to you?      The market is telling us we need more buyers to buy homes and condos.  The rates plus willing sellers is making for some nice deals.  You should also be thinking about refinancing possibilities if you plan to stay for two years as the payoff is quite nice.  Here are some numbers.   You save a lot per month. In two years at 200k you will save $4224 which is much more than the cost to refinance.  Refinance Article Earlier on Cost of new loan. Per 100k of loan your payment of principal and interest at 6% was $600 per month. Now, at 4.6  % its dropped to $512 per 100k of loan, you save $88 per month 100k-save 88, 200k save $176, 300k save 284 per month      As a buyer your money is just going to go further th...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
The headlines and newscasts keep repeating doom and gloom for the real estate market from sea to shining sea.  Obviously they missed the breaking news that all real estate is local and not every seller is ready and willing to take a rock bottom price for their home. This week, I received an offer on a great home for sale in Harvey.  I have a motivated seller who has looked closely at the market and what homes are selling for in the neighborhood.  He then made a deliberate choice to price his home lower than any of the others in order to make it appeal to the largest number of buyers.  And it’s working.  I’ve had more showings on this home than on almost any other house I have listed, and I’m sure that it will be sold soon since it’s priced right, clean as a whistle and move in ready.  S...
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By Alicia Lagarde-Craig, Realtor, New Orleans, LA
(Keller Williams Realty New Orleans)
                    Blogging From The Desk of Alicia Lagarde-Craig The recently passed American Recovery and Reinvestment Act, including the $8,000 tax credit for first-time buyers, presents an excellent opportunity for buyers ready to take advantage of today’s affordable market. Nonetheless, many first-time buyers might be unsure just exactly how the tax credit works or how it improves upon a similar credit offered last year. I hope this blog will help you to understand the advantages of the $8,000 tax credit and capitalize on this financial incentive before it is no longer available. If you have any questions, please call Alicia at (504) 382-3724. The American Recovery and Reinvestment Act of 2009 offers an $8,000 tax credit for first-time buyers who purchase a home on or after Janua...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
Algiers LA 70114: Current real estate market statistics 80 active listings, priced from $23,000 to $699,000 15 pending sales, priced from $39,000 to $269,900 Based on the number of homes sold in February (5), there is a 16 month supply of homes for sale in the area This report covers the entire 70114 zip code and includes Algiers Point Home Sales Algiers LA 70114 – Number of Home Sales February 2009 Sales in Algiers 70114 increased from January to February 2009, but the majority of the sales were of properties in need of repairs or remodeling. 3 of the 5 sales were to cash buyers, 1 was conventional financing. No FHA or VA financing was used during the month of February in this area. The number of sales in the 70114 zip code is 50% lower than at the same time last year (7 year to date ...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
New Orleans, A buyers Market? People like to Buy High and not Buy Low? Following the herd! Psychology does matter!  Eric's Editorial Comments:      New Orleans Real Estate is  in a buyers market phase when it comes to homes and condos.  The prices are lower since there are fewer buyers.  There are eager sellers that want to make a deal.  Many sellers and developers need to sell and move on.  The Interest rates are really good, anyone who thinks they will not go up next year is crazy.  Many buyers are not in the market due to credit restrictions.  The prices have been rather stable until this past November when real weakness started showing up. Supply and demand with incentives does work !     Most buyers have opted out of the market because of the psychology of going against the herd is...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
Algiers LA – Current real estate market activity (excluding English Turn – you can find the English Turn home sales here) 184 active listings, priced from $32,000 to $950,000 41 pending sales, priced from $48,552 to $349,900 Based on the number of Algiers homes sold in February (9), there is a 20 month supply of homes for sale in the area Algiers LA 70131 – Number of Homes Sold February 2009 The number of homes sold in Algiers in February creeped up to 10 from the 7 January sales, putting the total for 2009 at 17 so far. (Compared to the 28 sales at the same time last year) The most startling number for Algiers has to be the days on market though. In 2008, the average days on market was 119. The 2009 average as of the end of February is 191. Some of the homes that have been on the marke...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
Algiers Point: Current real estate market activity There are currently 22 active listings in Algiers Point, priced from $149,900 to $699,000 2 sales are pending, priced at $185,000 and $269,900 Based on the February 2009 sales (2), there is an 11 month supply of homes for sale in Algiers Point. Algiers Point – February 2009 Number of Homes Sold February 2009 ended with 2 home sales in Algiers Point, which were also the first recorded for the year in thecommunity. Active listings have remained steady with 19-21 homes on the market for the last 4 months at an average listing price of $281,800 or $126.27 per square foot. Here is a quick comparison of January and February sales in Algiers Point for the period of 2005-2009: # homes sold 2009 2008 2007 2006 2005 January 0 1 3 2 2 February 2 0...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
   Many people who live here miss a lot because they stay at home.  New Orleans is a very interesting city and its great if you have a camera.  Walked aound before the Hornets game on Saturday. These were two of my favorite New Orleans shots along the Mississippi River. We got a great tour just walking around before the game. Get out and walk you town.   
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
Eric Bouler | Prudential | 504-212-0072 528 N. Rampart, New Orleans, LA French Quarter condo totally redone with plenty of updates. The historic feature are left in tack. 2BR/1BA Condo offered at $219,528 Year Built 1830 Sq Footage 720 Bedrooms 2 Bathrooms 1 full, 0 partial Floors 1 Parking None Lot Size Unspecified HOA/Maint $355 per month DESCRIPTION This Historic French Quarter Condo has 2 bedrooms one bath. The building is circa 1830. This condo has all the features of a much more expensive condo. It has all the ingredients that people want when shopping for a condo. Its got the high ceilings, the wood plank floors, the exposed brick walls, plenty of windows for the natural light, old fireplaces, cypress doors, crown molding, and much more. The 715 sq. ft is a reasonable size but f...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
English Turn real estate market activity 45 active listings, priced from $415,000 to $1,595,000 Average list price is $678,528 Median list price is $599,000 7 homes are under contract or pending sale, priced from $361,900 to $699,000 Based on February sales, there is a 15 month supply of homes for sale in English Turn English Turn – Number of Homes Sold English Turn ended February 2009 with 3 closed sales, marking the first homes sold in 2009 in the community.  This puts the area right on par with the number of sales at this time last year. The number of pending sales is up from 7 in January to 8 at the end of February.  As listing prices continue to drop slightly from month to month, I expect to see an increase in activity on the lower end of the price range in the area for the spring....
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
The clocks are turning forward a little earlier this year and I love it! To me the day is over when the sun sets, so the more daylight the better. You don’t want to forget to set your clock before you go to bed on Saturday night, or you might miss an hour of Friendship Day….the annual street party put on by the Algiers Irish Rebels and Friendship Club at the corner of Olivier and Patterson streets in Algiers Point this Sunday. Friendship Day is always a fun event and it’s like an official rite of passage from winter into spring on the West Bank. Live music from 3 bands, including Outlaw Jim and the Whiskey Benders (all the way from Kansas City) and Chicken on the Bone (all the way from Algiers). Green beer, free food and great friends go perfectly with the excellent weather forecast for...
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By Darryl Glade, New Orleans Real Estate
(RE/MAX N.O. Properties)
New Orleans Real Estate - Helpful Blog Posts I have been blogging for quite some time now and have managed to post some articles that many people have found to be very helpful. I thought that for today's blog post I would link to and quickly describe some of my most popular and helpful posts on New Orleans real estate. New Orleans Real Estate - The Definitive Blog Post Far and away my most popular post. This post gives a general outline of New Orleans and its real estate. The pictures I used have been removed but the content remains the same. Top 5 Reasons You Can't Sell Your New Orleans Real Estate I posted this blog post about a year ago but the content remains relevant.  5 reasons your New Orleans home may not be selling. Home Buying Guide I created an 8-part Home Buying Guide series...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
New Orleans Garden District, Unique and certainly Historic !      Little did we know looking at New Orleans today that a mere 180 years ago New Orleans was very famous city.  It was a  much richer city on the banks of the Mississippi River than it is today.  The odd thing is that New Orleans had the largest population of Free blacks in the the nation before becoming a state in 1820.  Many of the homes in the Garden District were built in this pre-civil war period.      New Orleans was captured early on in the Civil War and was not burned down like some other Southern Cities.  Maybe because General Sherman was the first President of LSU.  He was not involved  in the capture of New Orleans at that time.   " The population of the city doubled in the 1830s, and by 1840 New Orleans had becom...
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By Deb Hurt, ABR, e-Pro,Green, TRC
(Realty Pro Albuquerque)
I had a closing last week. I got a commission check on Thursday and ran right to the bank to deposit it. I wrote checks to my creditors but the first two checks were to a commitment I made for this year. I donate one per cent of every commission check to my local public radio station because I believe that public radio is an important source of music, news and information about various points of view that are not commonly available through other sources. Whether I necessarily like or agree with all of them is not the point. The point is that they should be freely available so that people can hear a diversity of opinion, news,music ,and drama. The other check was for another one percent to THE HOUSE THAT ACTIVE RAIN BUILT  for the MAKE IT RIGHT NOLA Foundation. Whatever your commission, ...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
With average high temperatures hitting the upper 60's, the itch to dig in the dirt has hit folks all over the New Orleans West Bank. I've seen tons of homeowners out working in their yards...clearing out dead plants, cutting back overgrown shrubs, and putting in fresh new flowers and mulch. I love spring in New Orleans! The Japanese magnolias have already been blooming, letting me know that it's about time to get out there and work in my own yard. One of my favorite places for locally hardy plants and some expert advice on where to place them is New Orleans Garden Center & Landscape. Located right in Algiers, for years it was known as DeBattista's Nursery. Nicky DeBattista was my go-to guy for decades and when he retired his godson, Blair, took over the business. Blair has done a great ...
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