New Orleans West Bank Living and Real Estate News: November 2009

Current real estate activity in the English Turn subdivision of Algiers LA:

32 homes are for sale in English Turn

• High list price $1,995,000
• Low list price $395,000
• Average list price $678,421
• Median list price $549,000

5 homes are pending sale or under contract, priced from $395,000 to $522,000

Based on the number of homes sold in October (4), there is an 8 month supply of homes for sale in the area

English Turn | Number of Homes Sold | October 2009

October looked like spring in English Turn, recording 4 sales for only the second time this year.  Year to date, there have been 22 homes sold, an average of 2.2 homes per month.  This puts English Turn on track to perform at about the same rate of sales as last year. 

Is it the bottom?  Only time will tell, as the community is in the slowest sales period over the last 5 years.  Overall, sales on the West Bank of New Orleans seem to be stabilizing in most, but not all, communities. 

English Turn | Average Home Sale Price | October 2009

The year to date average home sale price in English Turn is now at $501,564, down 15% from the 2008 average.  List prices, however, continue to track along the 2005 average, indicating that some sellers are in for either a long marketing period (for the extreme high end) or disappointment (for those that are just overpriced for their homes condition).

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

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

Related information:

Algiers Homes for Sale
New Orleans West Bank Homes for Sale

Home Buying Tips
Home Selling Tips

If you are considering buying or selling a home on the West Bank of New Orleans, please contact the West Bank Living Team.  We have specialists in home sales/marketing and buyer representation ready to assist you with any of your real estate needs.

Thanksgiving.  That time of year when everyone stops to remember what they are thankful for. 

We have our little canned speeches where we recite our good fortune in life and count our blessings of health, happiness and family.  You want to know what I’m thankful for?

I’m thankful for…

Facebook, for creating a time sucking vacuum that allows me to pretend that I’m networking while virtually poking that guy I barely remember from high school that somehow made it onto my friends list.

Take out food, because I don’t cook.

Flip cameras, for allowing me to record every single embarrassing moment in my children’s lives, giving them someting to complain to their therapist about when they grow up.

Pizza delivery, because I don’t cook.

Internet shopping, so I don’t have to get up at 4 am to join the legions on Black Friday who are trampling each other for a $20 toy.

Frozen entrees, because I don’t cook.

My iPhone, because I truly don’t know how people function without an app for that.

Kids who eat cereal for dinner, because I don’t cook.

Swiffer cloths, because without them I would have killed that stupid, shedding cat by now.

Grocery store prepared food, because I don’t cook.

Back up cameras on cars, so I can see what I’m going to hit, in living color, before I hit it.

Blue Runner red beans in a can, because I don't cook.

Community New Orleans Blend coffee and chicory, because non-fat lattes are for sissies.

People with a sense of humor and x-ray vision, who can see my tongue firmly planted in my cheek ;)

And just so you know, I’m truly thankful for…

My family, because they are everything to me.

A roof over my head, because so many are struggling to keep theirs.

Food on the table, because too many will go hungry tonight.

Good friends, because there are people who have no one to rely on in a time of need.

My career, because so many are out of work.

Our nation’s soldiers and protectors, because most of us wouldn’t dream of making the daily sacrifices that they make.

Happy Thanksgiving to you and yours….

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

139 homes are for sale

• High list price $339,000
• Low list price $37,900
• Average list price $134,279
• Median list price $119,200

33 homes are under contract or pending sale, priced from $20,000 to $187,900

Based on the number of homes sold in October (13), there is a 10.7 month supply of homes for sale in the 70094 zip code (still a buyer’s market)

Westwego, Avondale and Bridge City LA 70094 | Number of Homes Sold | October 2009

Despite a slight dip in August, the number of homes sold in Westwego, Avondale and Bridge City has remained steady from month to month in 2009, with an average of 11.7 homes sold per month and 117 homes sold year to date.  This is a decrease of 18% from the number of sales at the same time last year and a continuation of the year over year drop in sales from 2006 forward.

Given that homes in the 70094 are some of the most affordable on the West Bank, it will be interesting to see if the extension and expansion of the home buyer tax credit has an impact of sales through the end of the year.

Westwego, Avondale and Bridge City LA 70094 | Average Home Sale Price | October 2009

Unlike the number of sales, average prices in the 70094 zip code have jumped around from month to month, ending October at $88,615.  The year to date average home sale price of $95,462 is a decrease of less than 2% from the 2008 average and less than $5,000 below the 2005 average price.

Like most of the New Orleans West Bank, if you purchased your Westwego home before 2005 you should still have built some equity.  Each neighborhood is different, though, so find out what's going on in your West Bank neighborhood with this week's free market snapshot.

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

Related Information:

Westwego, Avondale and Bridge City LA homes for sale
New Orleans West Bank homes for sale

Home buying tips
Home selling tips

Are you considering buying or selling a home?  Please contact the West Bank Living Team.  It would be our pleasure to assist you with any of your New Orleans West Bank real estate needs.

Current real estate activity in Marrero LA:

251 homes for sale in Marrero

• High list price $2,500,000
• Low list price $29,900
• Average list price $185,954
• Median list price $149,000

46 homes are under contract or pending sale, priced from $16,900 to $306,750

Based on the number of homes sold in October (34), there is a 7.38 month supply of homes for sale in the area

Marrero LA 70072 | Number of Homes Sold | October 2009

The number of homes sold in Marrero in October was 34, with a total 300 sold year to date. This is a decrease of 7.4% from the number of sales recorded at this same time last year.

The good news is that sales from month to month are holding steady at an average of 30 homes per month, so while the number of sales is down from years past, there does not seem to be a great deal of volatility in the market.

Each neighborhood is performing differently, so find out what's going on in your West Bank neighborhood with this week's free market snapshot.

Marrero LA 70072 | Average Home Sale Price | October 2009

Home prices in Marrero have been up and down this year, with an average of $139,935, a decrease of over 10% from the 2008 average.

The bad news is that prices have continued to drop.

The good news is that unless you purchased your home in 2006-2008, you more than likely are at least at a break even point. More and more, we are hearing from sellers who purchased at the peak that want to sell their homes. Unfortunately, many of them owe more than they can get in today’s market.

If this is your situation, our advice is to stay put. Real estate is cyclical and while we may be on a downswing right now, there is sure to be an upswing in the future.

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

You may also be interested in:

Marrero LA Homes for Sale
New Orleans West Bank Homes for Sale

Home Buying Tips
Home Selling Tips

For more information about buying or selling a home on the West Bank of New Orleans, please contact the West Bank Living Team. It would be our pleasure to assist you with any of your real estate needs.

Current real estate activity in Harvey LA:

164 homes for sale

• High list price $549,000
• Low list price $500
• Average list price $182,181
• Median list price $154,950

58 homes are under contract or pending sale, priced from $49,700 to $525,000

Based on the number of homes sold in October (35), there is a 4.69 month supply of homes for sale in the area.

Harvey LA 70058 | Number of Homes Sold | October 2009

Look at the jump in closed sales for Harvey!  While I don’t know the details on every single transaction, I would project that the large increase was due to the expected expiration on November 30th of the tax credit for first time home buyers that has been extended and expanded. 

Update to 2009 First Time Home Buyer Tax Credit

Should sales continue at the same pace (which is possible given the 58 pending sales), Harvey would be the shining star of West Bank real estate and the only seller’s market in the area, despite the fact that the number of sales is down almost 17% from the same time last year.

Harvey LA 70058 | Average Home Sale Price | October 2009

The average home sale price in Harvey for October was $158,129, bringing the year to date average to $163,373, UP 5.9% from the 2008 average and the only increase in home values that we are seeing on the West Bank of New Orleans. 

While this is good news, it’s important to remember that if you purchased your home during 2005-2007 you may only be at a break even point or experiencing a loss of equity.  Before deciding to sell, it’s important to know what’s going on in your neighborhood.  Get this week's free Harvey LA market snapshot

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

Related Information:
Harvey LA Homes for Sale
New Orleans West Bank Homes for Sale

Harvey LA Real Estate Market Reports

Home Buying Tips
Home Selling Tips

If you have questions about the Harvey LA real estate market or need information about buying or selling a home, please contact the West Bank Living Team.  It would be our pleasure to assist you with any of your real estate needs.

Owning your own home is what we have all been told is the American Dream. It brings to mind a picture of a neatly manicured lawn, flower beds in bloom and a white picket fence.

But what many first time home buyers forget is that you will no longer have a landlord to call when something breaks or needs to be repainted. In addition to paying your mortgage each month, there are other costs that you need to budget for when deciding how much you want to spend on a home.

What do home buyers need to budget for?

Utility costs are an often overlooked item that can catch a new home owner unawares. It’s more expensive to heat and cool an entire home than it is for an apartment and you may not be used to budgeting for additional utilities such as cable and water.

Repairs are inevitable when you are a home owner. Whether it’s the dishwasher that decides not to wash, the toilet that won’t flush or the roof that starts to leak, at some point you are going to have to make repairs to your home, even if you buy a brand new one. Having a nest egg for repairs is always a good idea and can keep an unexpected breakdown from wreaking havoc with your monthly budget.

That picture perfect front yard doesn’t happen on it’s own. Whether you cut the grass yourself or hire a service to do it, lawn maintenance is a must in New Orleans, especially during the summer months when cutting grass weekly is a given because it grows so quickly. You’ll need to budget for either a lawn service (have I mentioned lately how much I love my lawn guy?) or for the purchase of a lawn mower, edger or weed eater and gas and oil for the equipment. If you decide to garden, there are the expenses of flowers, fertilizer, mulch and gardening tools that can quickly add up to a big dent in the wallet.

Mechanical maintenance is another necessity. Having your air conditioner and heater cleaned and serviced at least once a year (twice is preferable) may not be high on your list of things to spend money on, but can keep them in good working order and prevent breakdowns just when you need them the most. Being forced to call for A/C service in the middle of a hot summer afternoon means that you may spend more than you need to in order to keep your cool.

Almost without fail, new home owners want to make some improvements to their house. Whether it’s something small like a new paint color or front door or something major like a kitchen or bathroom overhaul, home improvements can be expensive. Besides creating a budget before starting a project, remember to check with your city or parish for any permits needed before starting work on your house.

Do you have questions about buying a home on the West Bank of New Orleans? Contact the West Bank Living Team for answers. It would be our pleasure to guide you through the entire home buying process and make it the fun experience it should be.

Search New Orleans West Bank Homes for Sale

Read more home buying tips

Current real estate activity in Terrytown and Gretna LA:

170 homes for sale

• High list price $999,000
• Low list price $24,900
• Average list price $217,709
• Median list price $169,700

48 homes are under contract or pending sale, priced from $35,900 to $400,000

Based on the number of homes sold in October (26), there is a 6.5 month supply of homes for sale in the area (a fairly balanced real estate market)

Terrytown and Gretna LA 70056 | Number of Homes Sold | October 2009

October marked the most active month of the year in Terrytown and Gretna home sales.  I’m sure that much of this increase was due to the uncertainty about whether or not the first time home buyer’s tax credit would be extended (which it has).  First Time Home Buyer Tax Credit Extended and Expanded

Year to date, there have been 180 homes sold in the 70056 zip code, compared to 190 at the same time last year.  It seems that while the number of sales has been dropping for the last couple of years, we are finally beginning to see some stabilization in the market.

Terrytown and Gretna LA 70056 | Average Home Sale Price | October 2009

The 2009 average home sale price at the end of October was $158,775, a decrease of 6% from the 2008 average, but slightly above the 2005 average.  Since 2005 was the last market that was not impacted by either Katrina or the economy, it’s a good barometer for “normal” and normal has been hard to find lately.

Unless you purchased your home in the last couple of years, it’s a good bet that you have not lost any of the equity in your home.  Find out what's going on in your West Bank neighborhood with this week's free market snapshot.

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

You might also be interested in:
Terrytown and Gretna homes for sale
New Orleans West Bank Homes for Sale

Home Buying Tips
Home Selling Tips

The West Bank Living Team would be more than happy to assist you with any of your real estate needs.  Feel free to call us or drop us a line with any of your questions or concerns.

Current real estate activity in Gretna LA 70053:

51 homes are for sale

• High list price $275,500
• Low list price $42,900
• Average list price $147,731
• Median list price $131,000

12 homes are under contract or pending sale, priced from $52,000 to $240,000

Based on the number of homes sold in October (8), there is a 6.38 month supply of homes for sale in Gretna, which is just about a balanced real estate market.

Gretna LA 70053 | Number of Homes Sold | October 2009

The year to date number of homes sold in Gretna as of October 2009 is 62, compared to 65 at the same time last year. Gretna is one of the only markets on the West Bank of New Orleans that has not had a dramatic drop in the number of home sales from 2008 to 2009.

Given the recent amount of activity in the community, I would anticipate that we will equal or exceed the number of homes sold in 2008. While it is not a return to pre-Katrina levels, it appears that the market is balancing out supply and demand.

Gretna LA 70053 | Average Home Sale Prices | October 2009

The average price of homes sold in the City of Gretna in 2009 is now at $137,680, compared to $145,701 in 2008 (a decrease of 5.5%). Again, this is a better performance than many other areas of the West Bank, where some neighborhoods have experienced value drops of more than 20%.

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

You may also be interested in:

Gretna LA homes for Sale
New Orleans West Bank Homes for Sale

Home Buying Tips
Home Selling Tips

Have a real estate question? The West Bank Living Team has answers. Feel free to drop us a line or give us a call or visit West Bank Living.

Current real estate activity in Belle Chasse LA:

49 homes for sale

• High list price $900,000
• Low list price $78,800
• Average list price $348,235
• Median list price $320,000

9 homes are under contract or pending sale, priced from $59,900 to $1,300,000 Based on the number of homes sold in October (6), there is a 8.17 month supply of homes for sale

Belle Chasse LA | Number of Homes Sold | October 2009

Home sales in Belle Chasse continue to hold steady, with 6 homes sold in October. This brings the year to date total number of single family homes sold to 56, compared to 66 at the same time in 2009. With 9 homes currently under contract, it looks like we will end the year with about 10% fewer sales than last year. Financing choices continue to be spread out, with 2 FHA sales, 2 conventional sales and 2 cash sales recorded in October.

Interestingly, VA loans have been used in only 17.8% of Belle Chasse home sales this year, despite the fact that NAS JRB New Orleans is located in the area. More than likely, it is because the majority of incoming military families are looking for housing that is a little more affordable than that offered in the Belle Chasse community.

Belle Chasse LA | Average Home Sale Prices | October 2009

While there was a spike in the average sale price in October due to a $975,000 sale, the year to date average of $273,742 is down 17.45% from 2009. The good news is that the year to date average is well above that of 2005, so unless you purchased your Belle Chasse home in 2006-2008, the odds are good that you have increased your equity in your home.

Of course, all neighborhoods are performing differently, so if you would like a report of recent sales and listings in yours, sign up for your free Market Snapshot.

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

You may also be interested in:

Belle Chasse homes for sale
New Orleans West Bank Homes for Sale

Home Buying Tips
Home Selling Tips

The West Bank Living Team provides professional buyer and seller representation on the West Bank of New Orleans. Please feel free to call or email us with any of your real estate questions or visit West Bank Living.

Living in a sub-tropical climate is a definite plus if you love to spend a lot of time in your garden or yard. Despite the fact that it is November, there are still blooming flowers throughout my West Bank garden.

However, the periwinkles are starting to get leggy, the coneflowers are gone and the basil has started to flower and is done for the year. Before the holiday madness starts, I need to find time to get outside in the gorgeous weather we’ve been having and start the winter garden.

I stopped in to visit my favorite Algiers nursery this week – New Orleans Garden Center and Landscape on Huntlee Drive, just off of General Meyer. The fall and winter plants have arrived and wherever you decide to buy them (although I hope it’s from someone local) there is a profusion of color that can quickly take your garden from the end of summer blahs to the winter aaaaahhhhhs.

What I’m Planting This Winter

Pansies are probably the most traditional of the winter flowers, although we have to be careful not to plant them too early in New Orleans. They will survive the coldest of winters with ease, but our climate can be a little more challenging for them. The lovely ladies at the garden center shared this tip with me: if you want show stopping pansies, they love blood meal as a soil additive.

Most people think of petunias as a spring time flower, but in the south they are a perfect addition to your garden after the long hot days of summer have ended. Cool days and nights allow them to flourish and they can provide blankets of color for the next few months that will make all of the neighbors jealous :)

Snapdragons are one of my favorite winter flowers. A few years ago, I replanted my entire front garden in white – white petunias, white snapdragons and white pansies. I threw in a few sparkly Christmas lights and voila! A winter paradise, right in my own front yard.

I plan to finish off my winter garden with ornamental cabbage. The colors range from almost white to deep green to purple and the texture they bring to the space is fantastic.

Some other winter gardening tips from New Orleans Garden Center and Landscape

• Roses need to be pruned in January, but how much depends on the type of rose. If you are a novice rose grower (like me), check with a professional before you start chopping off branches!
• It’s time to winterize your lawn whether you have St. Augustine sod, centipede grass or even if you’ve seeded with winter rye
• Mulch is just as important in the winter as in the summer and can help protect the roots of your plants during those rare freezes on the south shore
• Once you’ve watered your plants in well, there is no need to water as much as in the summer. Of course, common sense rules and if they are looking a little droopy, give them a drink!

Hopefully, I can get all of this work done before the Thanksgiving holiday, because after that it will be time for a return visit to pick up poinsettias in every color for Christmas. Whew…I better get to work. Happy gardening!

New Orleans Garden Center and Landscape is located at 210 Huntlee Drive in Algiers. Call (504) 366-2017 for winter operating hours or more information and tell Blair HELLO for us!