New Orleans West Bank Living and Real Estate News

Current real estate activity in the City of Gretna:

61 single family homes are for sale

• High list price $409,000
• Low list price $45,000
• Average list price $158,928
• Median list price $145,000

10 homes are under contract or pending sale, priced from $37,500 to $165,000

Based on February sales (3), there is a 20 month supply of homes for sale in Gretna

Gretna LA 70053 | Number of Homes Sold | February 2010

The 3 Gretna home sales that were recorded in February were all properties in need of major repairs, pretty much the type of listings that only attract investors with cash because the condition of the homes are so poor. Otherwise, the city is on target with 6 sales year to date, compared to 7 at the same time last year.

Days on market dropped to 72, but again, remember that these investor properties sold faster than the typical home in the area. It may take a couple of months for the averages to balance out and give a truer picture of the market, especially given that the average days on market for active listings is currently at 143.

Gretna LA 70053 | Average Single Family Home Sale Price | February 2010

The average sale price took a big hit in February due to the condition of the properties sold. This should not be considered a real average for the area. Average sale prices will balance out over the year as more owner occupant homes are sold.

If you are interested in receiving information on current listings and sales in your neighborhood, we provide free online reports of real estate activity in your West Bank neighborhood.

Related Articles:

Home buying tips

Home selling tips

Homes for sale in Gretna LA

West Bank Real Estate Market Statistics

For more information about home buying or selling on the West Bank of New Orleans, or relocating to or from NAS JRB New Orleans, please contact the West Bank Living Team. It would be our pleasure to have the opportunity to assist you with any of your real estate needs and have a little fun while doing it!

Originally published at West Bank Living

The speed with which consumers have embraced online shopping amazes me. In just a few short years, the buying habits of most people have changed from window shopping at the mall to browsing across the internet, comparing quality and prices from the comfort of home. This same change applies to the real estate industry as well.

With almost any information about homes for sale available online, buyers are able to narrow down their list of most interesting homes without spending an entire day driving from house to house...and most of them are doing this based on the photos of those properties.

The New Orleans MLS (Multiple Listing Service) allows an agent to upload up to 12 photos of each listing. Is every home a candidate for 12 photos? Probably not. Tenant occupied properties are notoriously hard to get good photos of - no matter how hard we try. Homes that have been flooded and gutted usually don't warrant more than a couple of exterior pictures and maybe one or two interior photos.

However, too many agents are still just using a couple of shots of the front of what might be some great homes and calling it advertisement or marketing.

The result? Houses that are passed over by buyers that assume there is something wrong with them.

I did a quick search of the active listings on the West Bank and of the 1,268 single family homes for sale here is what I found:

• 17% had only 1 photo
• 13% had between 2-5 photos
• 45% had between 6-10 photos
• 25% had the maximum number of photos allowed

These numbers don't even get into the quality of photos being used. Here's what the buyers will see in that 17% that have only 1 picture to draw them in with:

• Photos taken from across the street that give a great view of the trees, but not much of the house
• People peeking out of the front doors (are they included in the sale?)
• Blurry and out of focus pictures (should I check my glasses?)
• Thumbnail photos that are so tiny there is no way a person could decide if it's a house they might be interested in...combined with a description like "Must see to appreciate"
• Driveways and front yards so full of cars that it looks more like an auto lot than a home
• Pictures filled with garbage cans, overgrown grass and the shadows of the agent taking the photo
• Photos that are so crooked buyers are waiting for the house to slide right off of the screen

So what is my point? Sellers should be reviewing the marketing efforts of their agents. Ask to see the photos they are using - if you don't like them, demand additional or replacement photos. Ask to see the MLS printout that buyers will get. Don't be afraid to ask that the descriptions be detailed and accurate...good spelling and grammar are bonuses as well, but that's a topic for another day.

Marketing and showcasing your home in it's best light is what your agent is being paid for. Be sure you are getting your money's worth, because that shouldn't be optional either.

For information about home buying or selling on the West Bank of New Orleans, or relocating to or from NAS JRB New Orleans, please contact the West Bank Living Team. It would be our pleasure to have the opportunity to assist you with any of your real estate needs and have a little fun while doing it!

Originally published at West Bank Living

There is so much happening on the West Bank this weekend that my calendar is overflowing. I don't know how all of these great events ended up on the same days, but if you can't have fun this Saturday and Sunday, well....there's not much we can do to help you. Rest up on Friday night, because the rest of the weekend is jam packed with West Bank Living!

1st Annual Terrytown Spring Festival

Celebrating the 50 year history of Terrytown, the Spring festival is Saturday from 11am - 11pm at 641 Heritage Avenue.

A 9:30 am parade through Terrytown will kick off the event, which is filled with food, fun and live music, a kids area, car show and more.

The music schedule is:

12-3pm Amanda Shaw
4-7pm the TopCats
7:30-10:30pm Rockin Dopsie, Jr

Bring your lawn chairs to spend the day, but no outside food or drink is allowed.

Mo's Pizza Fest

This year’s annual Mo’s Pizza Fest starts at 11:00am. A great local fundraiser, proceeds from the Festival benefit both the Westwego Fire Department and Westwego Police Department.

Don’t miss out on all the great food, fun, raffles and live music. Again, bring your lawn chairs, but leave the food and drink at home.

Band schedule is:
Foret Tradition – 11:00am -12:30pm
Mojeaux- 1:00pm -3:00pm
Weathered – 3:30pm -4:30pm
Bag of Donuts – 5:00pm – 6:30pm
Five Finger Discount – 7:00pm – 9:00pm

Mo’s Pizza, 1112 Avenue H, Westwego, LA. 70094. Call 341-9650 or mosfest@gmail.com for more information.

Gretna Jubilee

The JPPSS Advanced Studies Academies on the Westbank are hosting the fourth annual Gretna Jubilee – a gala event, featuring restaurant tasting, open premium bar, charity auction and outdoor concert at the historic Gretna Farmer’s Market.

This year’s event will take place on Saturday March 6, 2010 from 7p.m. – 11 p.m., in the open-air Gretna Market at the corner of 4th St and Huey P. Long Avenue in the City of Gretna.

The Jubilee is a benefit for charter schools, with food samplings from an expected 35 restaurants and this year featuring two bands – rock-a-billy sensation Gal Holiday and legendary New Orleans rockers Dash Rip Rock. Tickets to the event are $50 and include food, an open premium bar, concert and participation in the auction. Visit www.gretnajubilee.com for more information on the event.

Louisiana Saturday Night

A family friendly fund raiser being held by the Krewe of Choctaw, Louisiana Saturday Night kicks off at 6 pm at the VFW Post 3121, 475 Monroe Street in Gretna.

It's a Louisiana Saturday Night party with the Jimmy Thibodeaux Band playing all of your favorite Louisiana music from 6-10pm. The event is free and open to the public.

The Kids are welcome... Choctaw will be selling fried catfish dinners and drinks and you can dance all night long! Come dressed as you are from the festivals as they roll back the rug and just have some fun.

Algiers Friendship Day

As if Saturday wasn't enough to wear anyone out, Sunday is Friendship Day in Algiers Point. One of the most anticipated block parties of the year, with food, drinks and live music from Outlaw Jim and the Whiskey Benders and Algiers' own Chicken on the Bone.

The weather is supposed to be delightful, so stake out a spot for your blanket on the levee or bring your lawn chairs to the corner of Olivier and Patterson. The music starts at noon, with an official end time of 4 pm, but this party usually lasts into the night. Kid friendly, it's a wonderful way to welcome spring to the West Bank.

That's my calendar. What are you doing this weekend?

For information about home buying or selling on the West Bank of New Orleans, or relocating to or from NAS JRB New Orleans, please contact the West Bank Living Team. It would be our pleasure to have the opportunity to assist you with any of your real estate needs and have a little fun while doing it!

Originally published at West Bank Living

Current real estate activity in English Turn (New Orleans, LA):

30 single family homes for sale

• High list price $1,799,000
• Low list price $399,000
• Average list price $704,067
• Median list price $549,000

2 homes are under contract or pending sale, priced from $469,000 to $499,000

Based on January sales (2), there is a 15 month supply of homes for sale in Belle Chasse

English Turn | Number of Home Sales | January 2010

English Turn started the year with 2 homes sold in January, surpassing January sales in both 2009 and 2008.

The few bank owned properties in English Turn have sold, so now the rest of the inventory is starting to be cleared. As a result, I anticipate days on market will rise (see the sharp uptick in January) as homes that have been on the market for an extended period of time are sold.

English Turn | Average Home Sale Prices | January 2010

The January average sale price in English Turn was $508,500, up from the 2009 average of $492,938. As we move further into the year, we will have a better handle on whether this is a blip or a trend in the market.

Because of the price range of these luxury homes, conventional financing was used for both purchases. Sellers did not provide any closing cost assistance to the buyers, but 1 seller did provide a home warranty for the purchaser.

Related Articles:

Home buying tips
Home selling tips

Algiers homes for sale

West Bank Real Estate Market Statistics

For more information about home buying or selling on the West Bank of New Orleans, or relocating to or from NAS JRB New Orleans, please contact the West Bank Living Team. It would be our pleasure to have the opportunity to assist you with any of your real estate needs and have a little fun while doing it!

Originally published at West Bank Living

Current real estate activity in Belle Chasse LA:

43 single family homes for sale

• High list price $1,700,000
• Low list price $85,000
• Average list price $362,440
• Median list price $283,500

7 homes are under contract or pending sale, priced from $183,000 to $450,000

Based on January sales (1), there is a 43 month supply of homes for sale in Belle Chasse

Belle Chasse LA | Number of Home Sales | January 2010

January saw 1 single family home sale in Belle Chasse, the slowest January since we started tracking sales in 2004. With only 1 sale, the average days on market has little meaning. I can tell you that of the currently active listings, the average days on market is 170, so Belle Chasse seems to be slowing down. We won't know that for sure until we see another couple of months of data for comparisons.

Belle Chasse LA | Average Home Sale Prices | January 2010

The January average sale price was $263,300, but, again, it's important to remember that this is only one sale. No seller concessions were made and no home warranty was provided for the buyer.

All data is provided by GSREIN and is deemed reliable, but not guaranteed

Related Articles:

Home buying tips
Home selling tips

Belle Chasse homes for sale

West Bank Real Estate Market Statistics

For more information about home buying or selling on the West Bank of New Orleans, or relocating to or from NAS JRB New Orleans, please contact the West Bank Living Team. It would be our pleasure to have the opportunity to assist you with any of your real estate needs and have a little fun while doing it!

Originally published at West Bank Living

Current real estate activity in Algiers Point:

26 single family homes are for sale

• High list price $390,000
• Low list price $126,000
• Average list price $268,231
• Median list price $277,000

7 homes are under contract or pending sale, priced from $123,500 to $425,000

Based on the number of homes sold in January (3), there is a 8.7 month supply of homes for sale in Algiers Point

Algiers Point | Number of Single Family Home Sales | January 2010

The Point started out the year with 3 successful single family homes sales – a vast improvement over last January when there were no sales at all and the most January sales we’ve seen in the neighborhood since 2007.

Days on market took a jump to an average of 136, but since it is just for one month, we’ll have to track it over time to get a true picture of how long it is taking homes that are priced right to sell.

Algiers Point | Average Single Family Home Prices | January 2010

Finally, we are starting to see some of the move in ready and upper end homes in the Point begin to move. January ended with an average sale price of $302,750. Granted, with only 3 sales it’s easy to skew the numbers, but all of the homes sold were over $260k, which is well above the 2009 average.

Conventional financing was used for all of the homes sold in January.

Some more details about January sales in the Point

• All of the homes were in Very Good or Excellent condition
• None of the sales were of bank owned or foreclosure properties
• 1 (33%) seller provided closing cost assistance to the buyer
• 1 (33%) seller paid for a home warranty for the purchaser

All data is provided by GSREIN and is deemed reliable, but not guaranteed

Related Articles:

Home buying tips

Home selling tips

Algiers homes for sale

West Bank Real Estate Market Statistics

For more information about home buying or selling on the West Bank of New Orleans, or relocating to or from NAS JRB New Orleans, please contact the West Bank Living Team. It would be our pleasure to have the opportunity to assist you with any of your real estate needs and have a little fun while doing it!

Originally published at West Bank Living

Current real estate activity in Algiers LA 70131 (excluding English Turn):

182 single family homes are for sale

• High list price $895,000
• Low list price $29,900
• Average list price $181,517
• Median list price $155,000

29 homes are under contract or pending sale, priced from $50,000 to $325,000 Based on the number of January sales (9), there is a 20 month supply of homes for sale in Algiers

Algiers LA 70131 | Number of Single Family Home Sales | January 2010

The 70131 zip code of Algiers started off the year with 9 homes sold, up from 7 in January 2009. The days on market dropped substantially, but that is mostly due to the sale of several bank owned homes that were aggressively priced and moved very quickly.

Competition from foreclosures should be a factor when pricing your West Bank home to sell, so be sure that you have information on all of your competition before putting your house on the market. Get your free report of recent listings and sales in your New Orleans West Bank neighborhood

Algiers LA 70131 | Average Single Family Home Price | January 2010

The average single family home in Algiers sold for $147,758 in January, up over $20k from December, but still below the 2009 average shown above. Conventional loans and cash were the most popular forms of payment, since many of the homes sold in January were in less than excellent condition, keeping them from being financed with VA or FHA loans.

Some more details about January home sales in Algiers

• 33% of the sales were of bank owned or foreclosed properties (33% is the average across the West Bank)
• 11% of sellers provided some type of closing cost assistance to the buyer
• 11% of sellers paid for a home warranty for the purchaser

All data is provided by GSREIN and is deemed reliable, but not guaranteed

Related Articles:

Home buying tips
Home selling tips
Algiers homes for sale
West Bank Real Estate Market Statistics

For more information about home buying or selling on the West Bank of New Orleans, or relocating to or from NAS JRB New Orleans, please contact the West Bank Living Team. It would be our pleasure to have the opportunity to assist you with any of your real estate needs and have a little fun while doing it!

Originally published at West Bank Living

Current real estate activity in Algiers LA 70114:

112 single family homes are for sale

• High list price $390,000
• Low list price $10,000
• Average list price $144,144
• Median list price $118,750

19 homes are under contract or pending sale, priced from $13,000 to $425,000

Based on the number of homes sold in January (7), there is a 16 month supply of homes for sale in the 70114 zip code

Algiers LA 70114 | Number of Single Family Homes Sold | January 2010

The 70114 zip code of Algiers started out the year with 7 single family homes sold, up from only 2 in January 2009, so it’s a nice start to 2010 after disappointing sales last year.  3 of the sales were in Algiers Point, while the other 4 were in various neighborhoods in the area.

The average days on market for homes sold in January was 80, while the average days on market for active listings is at 155.  This is a good indicator that some of the homes that have been on the market for awhile may be overpriced or in not so great condition.  If you are selling your home, you need to know your competition.  Find out what's going on in your West Bank neighborhood with this week's free market snapshot

Algiers LA 70114 | Average Sale Price of Single Family Homes Sold | January 2010

The average sale price jumped up to $154,707 in January, mostly due to the number of homes sold in the Point, which always commands a higher price.

The split between conventional and cash sales tells me that there are very few entry level homes being sold in the area, which would more than likely be financed with FHA loans.  Instead, it appears that either investors or stronger buyers are the ones more interested in these properties.

A few more facts about January home sales:

• 29% of the sales were of bank owned or foreclosure properties (compared to 33% across the West Bank)
• 29% of sellers provided some type of closing cost assistance to the buyers
• 14% of sellers paid for a home warranty for the purchasers

All data is provided by GSREIN and is deemed reliable, but not guaranteed

Related Articles:

Home buying tips
Home selling tips
Algiers homes for sale
West Bank Real Estate Market Statistics

For more information about home buying or selling on the West Bank of New Orleans, or relocating to or from NAS JRB New Orleans, please contact the West Bank Living Team. It would be our pleasure to have the opportunity to assist you with any of your real estate needs and have a little fun while doing it!

Originally published at West Bank Living

Current real estate activity in Westwego, Avondale and Bridge City:

139 single family homes are for sale

• High list price $330,000
• Low list price $24,900
• Average list price $130,840
• Median list price $119,000

23 homes are under contract or pending sale, priced from $19,900 to $299,000

Based on the number of homes sold in January (8), there is a 17 month supply of homes for sale in the 70094 zip code

Westwego Avondale Bridge City | Number of Single Family Homes Sold | January 2010

The 70094 zip code started the year with 8 home sales in January, compared to 10 in January 2009. This marks the slowest January sales in the last 5 years. But, with 23 homes under contract, I expect to see an increase in closings for February.

Days on market took a jump, up to an average of 107 days for sold listings. Active listings have been on the market for an average of 129 days, so look for this trend to continue.

Find out what's going on in your West Bank neighborhood with this week's free market snapshot.

Westwego Avondale Bridge City | Average Single Family Home Price | January 2010

While the number of sales was down, the average price for homes sold in January was up to $120,850. This is the highest monthly average we’ve seen in the 70094 zip code since 2007.

FHA continues to be the financing option of choice for the majority of buyers in the Westwego, Avondale and Bridge City communities. With the stricter condition requirements for FHA loans, sellers should be aware that deferred maintenance can make their homes ineligible for this type of financing.

A few facts about January sales:

• 37.5% of homes sold were bank owned or foreclosure properties (compared to 33% across the West Bank of New Orleans)
37.5% of sellers provided some type of closing cost assistance to the buyers
• 25% of sellers paid for a home warranty for the purchasers

All data is provided by GSREIN and is deemed reliable, but not guaranteed

Related Articles:

Home buying tips
Home selling tips
Westwego homes for sale
West Bank Real Estate Market Statistics

For more information about home buying or selling on the West Bank of New Orleans, or relocating to or from NAS JRB New Orleans, please contact the West Bank Living Team. It would be our pleasure to have the opportunity to assist you with any of your real estate needs and have a little fun while doing it!

Originally published at West Bank Living