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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 - New Mortgage Lending Rules The Federal Reserve just announced yesterday that it has approved some new lending rules in response to the current subprime loan/real estate issue. The new rules are specifically tailored to subprime loans and are meant to protect consumers from "shady" mortgage lenders. How does this effect us in New Orleans? Take a look at a few of the new rules and they may very well apply to you: Prohibit creditors from extending credit without regard to a consumer's ability to repay the real estate loan from income and assets other than the home's value. The lender complies, in part, by assessing repayment ability based on the highest scheduled payment in the first seven years of the loan. Require creditors to verify income and assets they rely ...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
So what did they win?  Well, Blaine Kern's Mardi Gras World, right here on the West Bank of New Orleans, is a 2008 Nick Parent's Pick for one of the Best Museums for Teens. Located in Algiers Point, just across the river from downtown New Orleans, Mardi Gras World offers a behind the scenes look at the creation of the beautiful floats that roll through the city during Carnival.  Tours are offered daily for both individuals and groups (reservations are required for groups of 10 or more) and include free king cake and coffee for everyone, a movie about the history of Mardi Gras and float building along with a tour of one the most interesting, art filled warehouses in the city. Besides being the site of float building, Mardi Gras World is also a wonderful place to hold a uniquely New Orlea...
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By Darryl Glade, New Orleans Real Estate
(RE/MAX N.O. Properties)
New Orleans Real Estate - Tip of the Day - Coin Operated Machines Do you own rental property? If so, you may want to consider installing coin operated laundry machines. I have a client that owns an 8 unit apartment complex (almost all one bedrooms) and has coin operated machines here in New Orleans. He charges $2 for one load. That includes both washer and dryer. On average, he collects $240 a month from the machines. Not too shabby! Multiply that out and he is collecting just under $3,000 annually from doing pretty much nothing. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ This New Orleans real estate tip of the day was provided by Darryl Glade, Realtor with RE/MAX N.O. Properties. Darryl can be reached at darrylglade@remax.net or by phone at 504.451.8960. Dar...
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By Darryl Glade, New Orleans Real Estate
(RE/MAX N.O. Properties)
New Orleans Real Estate - Tip of the Day - Pre-Approval Today's tip of the day is for buyers...make sure to get pre-approved before you start searching for houses. This simple task accomplishes so many things with so little effort! All you have to do is contact a lender and answer a few questions, sometimes fill out an application, give a little info and the lender will tell you how much of a loan you are pre-approved for. This does not constitute final loan approval but it helps in many ways. First of all, you know how much of a house you can afford. Secondly, it lets a seller know that you are a serious buyer and they may consider your offer to be stronger than a buyer without pre-approval. Lastly, it gets you started in the lending process. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~...
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By Darryl Glade, New Orleans Real Estate
(RE/MAX N.O. Properties)
New Orleans Real Estate - Tip of the Day - Credit Scores What is a good credit score? The following info is from recredithelp.com 720-800 Superb!700-719 Wonderful. You should get top rates.680-699 Good. Good rates and good terms.660-679 All right. Pay a little higher costs and rates.640-659 OK score if you have a good income.620-639 Weak. You need a good income and good downpayment.600-619 Poor. Use creative loan broker and pay more loan costs.580-599 Almost impossible without loan downpayment.Under 580 Work on fixing credit without delay ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ This New Orleans real estate tip of the day was provided by Darryl Glade, Realtor with RE/MAX N.O. Properties. Darryl can be reached at darrylglade@remax.net or by phone at 504.451.8960. Darr...
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By Darryl Glade, New Orleans Real Estate
(RE/MAX N.O. Properties)
New Orleans Real Estate - Tip of the Day - Touch Ups For all you sellers out there...Buyers tour your home looking for reasons NOT to buy it. Seems counterintuitive, but it is true. They are looking for anything that will tell them to move on to the next house on the list. So my tip of the day is do your best to remove as many of these "flaws" as possible. You do not always need to go overboard, just do your best. Living in New Orleans, we have a large older housing stock...so I'm sure your home may have a few odds and ends that need repair. Fix that loose drawer handle, touch up the paint on the porch, clean the bathrooms, unstick the patio door, finish that weekend project you started last year... ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ This New Orleans real estat...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
I love porches...they are the perfect place to sit back, relax and watch the world (or at least your little part of it!) go by.  A good front porch can be hard to find if you live in an area that was built in the 60s or 70s, like many of our West Bank communities were.      While porches are making a comeback in new construction, my favorites are still the originals that set the standard in our city.  The ones that draw you in and invite you to have a seat and visit...     Take a walk with me through historic Algiers Point, where fabulous porches abound, in all shapes, sizes and decorating styles.   For a list of extraordinary porches and the Algiers Point homes that come with them, feel free tocontact Lisa Heindel, REALTOR®.        When buying or selling a home on the West Bank of New ...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
Searching for that New Orleans second home can take time or you can find it quickly.  It is all in what you are looking for.  The New Orleans market offers a variety of choices. 627 Ursuline Street #3New Orleans French Quarter CondoElegant Condo Sold $375k, 2008 627 Ursulines in New Orleans French Quarter      One of the things you will find in the New Orleans French Quarter is the  variety in the selection of condos both bad and good. You do not have a lot of complexes so most of an agents sales are not repeat  sales in the same buildings as mine generally do in the Warehouse District nearby.    This is a great unit in a small complex of nine units with very little turnover in the units.  Our customer wanted a unit with a balcony that was between Bourbon and the river that was priced b...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
What are your plans this weekend?  For some ideas, check out these New Orleans area events.   9th Annual Algiers Reunion Dance This Saturday night at Mardi Gras World, the 9th annual reunion dance will take place in Algiers Point.  Always a fun time and great way to catch up with old friends and neighbors, the dance is open to the public - everyone is welcome to come pass a good time!  Tickets are only $25 per person, with ice, water, setups and the live music of The Midnight Special band.  BYOL and some party or finger food to share with the rest of your table.  No need to get dressed up....this get together is casual and fun and taking place right here on the West Bank.  For more information or tickets call (504) 450-7460 or (504) 361-0937.     Reading to Rover Sunday at 2 pm in the c...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
Picking up where Wednesday in the Square left off downtown, Wednesdays on the Point is proving to be quite a success!  While I missed the first two weeks of performances, we were able to get out to Aunt Leni's Cafe this week for the third installment of the street concerts in Algiers Point.  The sidewalk tables were filled and the street was lined with the lawn chairs of the spectators.  Like any other function in Algiers, it was filled with familiar faces and lots of great local music, with the entertainment provided this week by the Marc Stone Band (turns out that Westbank Mike, who was also scheduled to perform, is on vacation this week).  With the band playing, the food cooking and the drinks flowing, we were caught up in saying hello to everyone and catching up with friends we had ...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
Recently, I've had the chance to talk with several different people about putting their West Bank home on the market for sale.  I really enjoy getting to meet them, to see their homes and to help them understand why a professional, local West Bank REALTOR can get their home the most exposure in their market and increase their odds of selling. Everyone has a different reason for moving, but there are certain questions that everyone should ask themselves before they sign their name to the dotted line of a listing agreement.   Are you motivated to sell? Why are you considering selling your home?  Is it because you have a job offer in another state and need to be there by a certain date (motivated) or is it because you just want to see what the market will bear (not so motivated)?  Motivate...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
It's hard to believe that we are already more than halfway through 2008.  Time to take a look at recent real estate market activity on the West Bank of New Orleans.  The June reports include both a monthly and quarterly sales analysis of the different West Bank communities listed below.   Algiers LA Home Sales and Real Estate Market Reports ~June 2008 Algiers, LA 70114- June 2008 Home Sales and Real Estate Market Reports Algiers, LA 70131- June 2008 Home Sales and Real Estate Market Reports English Turn- June 2008 Home Sales and Real Estate Market Report Algiers Point, LA- June 2008 Home Sales and Real Estate Market Report     Gretna and Terrytown LA Home Sales and Real Estate Market Reports ~June 2008 Gretna, LA 70053- June 2008 Home Sales and Real Estate Market Reports Terrytown and G...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
      I subscribe to a number of local blogs that are very informative and give me many ideas for blogs of my own and how to tie them into the New Orleans real estate market. New Orleans have several local papaers that feature all local items, both have blogs that churn out ideas daily. This one that I read is a tourist blog that keeps me informed. This is a recent blog giving my readers another resource. on New Orleans Condo trends blog.  "In a national survey, Americans voted online for the most "animated, brilliant, lively and vivacious" city in the United States. The winner--New Orleans! Yellowtail Wines sponsored the survey, and the city will receive its award, given by travel authority Pauline Frommer and Yellowtail, in front of St. Louis Cathedral, behind Jackson Square, on July ...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
Go 4th on the River Algiers Point, July 4th A fireworks extravaganza on the river and the best seats in the house are FREE.  Bring your lawn chair or blanket to the levee in Algiers Point or head over to Mardi Gras World, where admission is free after 5:30, a DJ will be spinning tunes and food and drinks will be available for purchase.  At 9:00 pm, the Bone Tone Brass Band will lead a second line parade to the levee for the fireworks display.  Come on out and celebrate Independence Day the West Bank way.  For more information, visit Go 4th on the River.   If you are celebrating the 4th of July at home, please remember that fireworks can be dangerous.  The National Council on Fireworks Safety has some great tips to keep your holiday safe and fun.   West Bank Blood Drive The Blood Center ...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
In the New Orleans market you have a lot of historic Uptown New Orleans homes and apartment complexes that have been turned into condos.  This historic type of condo is much more like living in an old home with the high ceilings, large porches, common yards, plenty of light and large spaces.  You just pay a lot less!  The unit I just sold with Lana Sackett to a new medical student attending Tulane University this fall was located at 2512 Magazine Street in the Garden District.      The Livaudais House features 8 condos of varying sizes and types are located  among single family homes worth millions and a block or two from the local coffee shops.  its also with walking distance for grocery shopping and much more.  You can walk to the St. Charles Ave. Street cars and are about 25 blocks f...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
I often hear that since there is a state required builder's warranty for new construction in Louisiana, that it is not necessary to have a home inspection done when purchasing one of these properties. WRONG!  No home is perfect, even a newly built one, and it is still important to have a thorough home inspection done.   I recently had the chance to work with a terrific military couple relocating to the West Bank of New  Orleans.  After a whirlwind search, we found the perfect house for them.  Brand new construction that was just the right size, in just the right neighborhood, with the perfect finishes and upgrades they were hoping for.   I recommended that although the builder would be willing to work from a punch list it was in their best interests to hire a professional home inspector...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
Many, many years ago (28 to be exact), my wonderful husband and I were married right here on the West Bank, at Algiers United Methodist Church.  I remember the sun streaming through the stained glass windows on that hot June afternoon in 1980, long before we ever dreamed we would have 4 children, 2 dogs, a cat, a mortgage, car notes and all of the other grown up responsibilities that come with being...well, grown up (which is completely overrated, by the way)                                           In typical New Orleans fashion, we still live in Algiers, just a stone's throw from the houses we were both raised in only 4 blocks from each other.  While lots of couples choose to travel to celebrate their wedding anniversaries, we chose to stay local.  With dinner reservations at that Ne...
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By Eric Bouler, Listening to your Needs
( Gardner Realtors, Licensed in La.)
    This is part of a recent article on colors of homes in the New Orleans area and how unique many of the homes and condos are.  I have added some of my photos to give you some ideas of the variety.  Historic New Orleans is blessed to have many such neighborhoods.  Sometimes change is not good.  We should be glad to have such a colorful city. New Orleans Condo Trends Blog for more         Of course someone is  going to go overboard, its like having that Uncle who listens to a different drummer and sees what others do not.   They too are accepted as the norm in many areas of town.      "Basically, it's a fairly inoffensive color, easy to paint over, makes decorating very easy and generally no one has an objection," Sciortino said. "In my opinion, it is rather lackluster and everyone has...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
Tracking how people get to my website allows me to see, in detail, exactly what kind of information consumers are looking for about West Bank real estate.  Recently, I had a website visitor that came to me by way of a search for "louisiana property disclosure vs. as-is".  I figure that if one person asked that question, then there are other folks out there wondering the same thing.   FIRST, it is important to point out that under Louisiana law, sellers (with few exceptions) are required to provide a property disclosure, whether they are selling the property "as is" or not.  Disclosing or selling "as is" is not a one or the other decision.   Unless you are one of the few who meet the state mandated exceptions, you MUST provide a disclosure to all purchasers.  The law applies equally to t...
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By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
While I'm celebrating my wedding anniversary this weekend, here are some fun things for you to do!   Gretna Farmer's Market Every Saturday from 8:30 am - 12:30 pm under the Market on Huey P. Long Avenue, between 3rd and 4th Streets.  Featuring local produce, art, music, crafts and more, it's a great way to start your weekend!     Make-A-Wish Benefit The Make-A-Wish foundation is the recipient of proceeds from a benefit being held at the West Bank Elks Lodge at 900 Monroe Street in Gretna.  The party will be rocking from 5 -10 pm on Saturday with food, live auctions, raffles and live music.   Don't forget about children's crafts every Saturday morning at 10:30 in the Children's Wing of the West Bank Regional Library on Manhattan Blvd., a cool start to these hot summer days!  Or, you can ...
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