New Orleans West Bank Living and Real Estate News: May 2010

Current real estate activity in Marrero LA:

255 homes are actively listed for sale in Marrero

• High list price $1,995,000
• Low list price $19,900
• Average list price $162,399
• Median list price $139,000

82 homes are pending sale or under contract, priced from $16,900 to $349,000

Based on the number of homes sold in April (33), there is a 7.7 month supply of homes for sale in Marrero

Marrero LA 70072 | Number of Single Family Homes Sold | April 2010

Sales held steady from March to April, bringing the year to date total number of homes sold in Marrero to 92.  This is down from 133 sales at the same time last year, a decrease of 30.8%.  However, with 82 pending sales waiting in the wings, I expect us to surpass 2009 sales in the next couple of months.  While a percentage of the contracts will not close, first time buyers have a heightened interest in keeping their deals together in order to qualify for the tax credit.

Days on market is up so far this year, with the average home sold in 92 days.  Look for this number to continue to go up, since the average listing has already been on the market for 116 days and the average home under contract was on the market for 124 days.

Marrero LA 70072 | Average Single Family Home Prices |April 2010

Prices climbed again in April, bringing the year to date average to $135,303.   This puts the average sale price in Marrero down just over 3% from the 2009 average.

More about April 2010 Marrero home sales:

• 18% were bank owned or foreclosure properties
• 36% of sellers provided a home warranty to the buyers
• 45% of sellers paid some type of closing cost assistance for the purchasers
• More than half of all home sales in Marrero this year have been financed with an FHA loan

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

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Current real estate activity in Harvey LA:All data supplied by GSREIN and is deemed reliable, but not guaranteed 175 actively listed homes for sale in Harvey

• High list price $535,000
• Low list price $30,000
• Average list price $181,317
• Median list price $149,900

72 homes are pending sale or under contract, priced from $32,000 to $369,000 Based on the number of homes sold in April (16), there is a 10.9 month supply of homes for sale in Harvey

Harvey LA 70058 | Number of Single Family Homes Sold | April 2010

Year to date, there have been a total of 61 single family homes sold in Harvey, compared to 58 at the same time last year. With 72 homes pending sale, look for a big jump in the year to date numbers over the next couple of months. More than likely this is due to the rush by buyers to take advantage of the first time buyer tax credit that required an accepted contract be executed by April 30th and closed by June 30th. Getting a handle on the projections for the rest of the year will be a little more difficult until after July 1st.

Average days on market in Harvey:

• Active listings = 99 days
• Under contract listings = 96

Harvey LA 70058 | Average Single Family Home Prices | April 2010

The average Harvey home sold in April went for $155,681, bringing the year to date average to $141,259. The represents a decrease of just over 14% in average home prices in the area. Remember, these are just averages and prices vary from neighborhood to neighborhood.

Get this week's free Harvey LA home value report.

More about Harvey homes sales in April:

• 19% of the homes sold were foreclosures or bank owned properties
• 37.5% of home sellers provided a home warranty to the buyers
• 44% of sellers provided some type of closing cost assistance to the purchasers

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

I truly didn't think our own goverment could screw up a disaster response any worse than the way Katrina was handled.  I was wrong.

Press conference with Plaquemines Parish President on May 23, 2010.  Give 'em hell, Billy.

Once again, I missed the opening of the 2010 summer concerts at the farmer’s market in Westwego. One day, I’ll get it together and be there for the first one, but in the meantime there is a great line up of fun and music scheduled all the way into July.

My favorite moment of the 2009 series was when Waylon Thibodeaux performed Matilda. Old school, but so much fun.

Can’t see the video? Click here

Each Friday evening, you can bring your lawn chair or blanket and your dancing shoes out to the market for the free concerts. Food and drink are being sold on site, so leave the ice chest at home. Family friendly and a fun way to kick off the weekend, here’s the music line up:

May 21 Michael Carballo and Esplanade
May 28 Aaron Foret
June 4 Skeeter and the Swamp Pop Band
June 11 Crescent City Hitmen
June 18 Treater
June 25 Empire Blues Band
July 2 Jr. & Sumptin Sneaky

Concerts last from 7-10 pm, but you can get there early to grab the best spots. Don’t you love living on the West Bank? Have fun!

The Farmer and Fisheries Market is located at 484 Sala Avenue, Westwego, LA

You won’t find many homes in this neighborhood that have the updates and finishes like 2524 Delta Pointe does. Freshly painted on the interior and with an easy care brick and vinyl exterior, it’s move in ready.

$152,900

Built in 1996 by Mitchell Homes, the Baton Rouge floor plan is open and flows well from the inside to the outdoors. High ceilings in the living, dining, kitchen and master bedroom make them feel even more spacious.

What will you find behind the door?

• 3 bedrooms
• 2 full baths
• Approximately 1,282 square feet living area
• Convenient kitchen with a sunny corner sink overlooking the backyard
• Dining space with a bay window
• Built-ins in the living room
• Tile floors throughout except for master bedroom
• Updated baths with vessel sinks, new faucets and new lighting
• Walk in closets in every bedroom
• Inside laundry room with additional storage space
• Double car attached garage
• Large fenced back yard

Want to see more? Take the video tour above and then contact the West Bank Living Team for your private showing today.

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!

There is nothing more disheartening to a home buyer or seller than to have a dispute arise right before closing about what is actually included in the sale of a house. Usually, this comes up during the final walk through when the buyer discovers that an item they thought was part of the contract has been removed by the seller.

Most sellers are not trying to be underhanded when they move out of a home, but often they don’t realize what is actually in the Louisiana purchase agreement that the buyer expects to find when they take possession of their new house.

While you can review that entire portion of the purchase agreement above, let’s go a little more in-depth about items that seem to cause the most disputes between buyers and sellers and lead to hard feelings at the closing table.

Installed speakers or sound systems

More than once, I have had a seller remove speakers that were wired into a wall or ceiling without realizing that they were violating the terms of the purchase agreement. If you have built-in speakers in your home (including outdoor speakers) that you don’t plan to make a part of the sale, it’s important to be sure that your contract specifically excludes those items.

The same goes for any built-in surround sound system or stereo systems. Adding a couple of lines of clarification to the purchase agreement can keep this from becoming an issue. Even better, be sure that your agent knows up front what is/is not included in the sale so it can be addressed in your property disclosure that the buyer must read and sign.

All installed appliances

Even if an appliance is not advertised in the MLS as being included in the sale, if a dispute arises a mediator will be forced to stand by what is in the executed contract between the buyer or seller. Don’t leave any room for misinterpretation! Exclude the washer and dryer that are going to your new home and be sure you remember to address not only the refrigerator in the kitchen, but that extra refrigerator or freezer that’s hanging out in the garage as well.

Ceiling fans

I know…who takes a ceiling fan? People do it all of the time. If a particular ceiling fan is not included in the sale, my advice is always to remove and replace it before the house goes on the market. Don’t let a squabble over such an inexpensive item derail your closing at the last minute.

Lighting fixtures and bathroom mirrors

Just like ceiling fans, these are attached items that are part of the property sale. Again, if you plan to take Aunt Martha’s crystal chandelier with you when you move, it’s better to replace it before the first buyer ever walks through the door. Too many times, people will dig in their heels over a lighting fixture or a mirror that is just perfect for the bathroom and end up in a nasty argument over who it belongs to. If it was not excluded in the contract, a seller will be forced to either return the item or pay the buyer for replacement. Believe me, you would much rather replace that light fixture ahead of time than get stuck trying to negotiate a fair value right before the closing.

All window coverings, blinds and associated hardware

I make it a habit to go over window coverings with all of my sellers in detail because these seem to be the things that cause the most trouble for people. Unless you have specifically excluded them, every curtain, blind, shade, rod, shutter and valence is assumed to be a part of the sale.

Plan on taking those custom curtains that match your bedspread? It needs to be in the contract. Can’t live without those curtain rods with the fleur-de-lis finials on them? Change those rods before the house goes on the market to avoid any misunderstandings caused by doing it right before you move.

What about items not listed in the contract?

Buyers should be aware that if there are any other items they want to include in the sale, it must be part of the contract. Don’t be surprised when the patio furniture, the BBQ grill, the potted plants and porch swing are gone if you have not negotiated that into your purchase from the seller.

Every item that causes a deviation from the standard contract language needs to be addressed – no matter how small or seemingly insignificant.

Remember, in a real estate sale if it’s not in writing, it’s not real!

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 Terrytown and Gretna LA:

157 homes are currently listed for sale

• High list price $850,000
• Low list price $24,900
• Average list price $211,790
• Median list price $173,500

61 homes are pending sale or under contract, priced from $32,400 to $329,000 Based on the number April sales (23), there is a 6.8 month supply of homes for sale in Terrytown and Gretna

Terrytown/Gretna LA | Number of Single Family Home Sales | April 2010

Home sales in Terrytown and Gretna continue to climb each month, ending April with a total of 74 homes sold year to date. At the same time in 2009, there were 63 home sales, so this is an increase of 17% in the number of homes sold in the 70056 zip code. With 61 homes under contract, I expect that number to continue to climb in May as the first buyers taking advantage of the tax credit get to the closing table.

Days on market has dropped fairly significantly from 2009 to 2010, ending April at an average of 74 days. However, the average active listing has already been on the market for 135 days, so look for an increase in this number as the year goes on.

Terrytown/Gretna LA | Average Single Family Home Prices | April 2010

While the number of sales has been increasing, the average prices that buyers are paying dropped again in April. It’s not all bad news for home sellers though, because year to date prices are just a smidge above the 2009 average and holding steady above the 2005 averages. Considering the losses that owners are taking in some other areas of the country, this is a pretty stable market.

More about April home sales in Terrytown and Gretna

• 17% of April sales were of bank owned or foreclosure properties
• 22% of home sellers provided closing cost assistance to the purchasers
• 39% of home sellers provided a home warranty to the buyers
• FHA continues to be the loan of choice for the majority of home buyers, with cash running second. The majority of the cash sales were of bank owned properties or those that were in poor condition, making them appealing to investors

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

Related Articles:

• Home buying tips
• Home selling tips
• Terrytown and Gretna 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 Gretna LA:

51 homes are currently for sale

• High list price $409,000
• Low list price $44,900
• Average list price $153,500
• Median list price $134,000

19 homes are under contract or pending sale, priced from $37,500 to $275,500 Based on the number of April sales (6), there is a 8.5 month supply of homes for sale in Gretna

Gretna LA 70053 | Number of Single Family Homes Sold | April 2010

Year to date, there have been 21 single family homes sold in the City of Gretna – the same number as of April 2009. Pending sales are just slightly higher than last month, but that was to be expected due to (1) spring is a more active selling season and (2) buyers rushing to get under contract before April 30th and the end of the tax credit for first time home buyers.

Days on market for homes sold in 2010 is now at 89 days. Considering that the average active listing has been on the market for 132 days and the average under contract listing has been on the market for 167 days, look for this number to continue to go up as the year progresses.

Gretna LA 70053 | Average Single Family Home Prices | April 2010

Year to date, the average Gretna home sold for $139,475, a very slight increase from the 2009 average. It’s important to remember that the extremely low sales price average in February skews the numbers slightly. Get this week’s free home value report for a quick snapshot of listings and sales in your West Bank neighborhood.

More details about April home sales in Gretna:

• No bank owned or foreclosed properties were sold in April (3 are currently under contract)
• 33% of home sellers provided a home warranty to the buyers
• 17% of home sellers paid some or all of the purchaser closing costs
• FHA remains the financing option chosen by the majority of Gretna home buyers

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

Related Articles:

• Home buying tips
• Home selling tips
• Gretna 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

In New Orleans and along the Gulf Coast, we take for granted easy access to fresh fish and seafood.  We take for granted that we are home to many species that are reliant on the condition of our coastal waters and wetlands to survive.  We take all of this for granted until they are threatened by something that is out of our control.

Over 6,000 square miles of fishing waters have been shut down due to the massive oil spill in the Gulf of Mexico.  Stop for a moment and consider that.  Over six thousand square miles. 

That number will more than likely grow over the coming days since it appears that BP has yet to figure out how to cap the leak that continues to spew oil into the Gulf at this moment. 

Not only is this a tragedy for our environment, but 11 workers lost their lives during the initial rig explosion.  Many of them were from right here on the West Bank and it makes my heart ache to see posts offering prayers to those who lost loved ones.

I've been watching the Facebook updates from people who live in Louisiana, Mississippi, Alabama and Florida.  I've read how willing people are to step up and offer help in any way they can, whether it's with the actual clean up or through donations.  It's been difficult to separate the real information from the rumors, but this appears to be the most accurate list I can find.

• From the State of Louisiana
  

Volunteer

To report oil on land and for Community and Volunteer Information, call 1-866-448-5816.

To offer your vessel for service or submit alternative response technology, services or products, call 281-366-5511 or email HorizonSupport@OEGLLC.com

You can register through OilSpillVolunteers.com to volunteer or join a cleanup organization.

The BP Volunteer Hotline has set up numbers if you need to report injured wildlife or damage related to the spill. You can also request volunteer information at 866-448-5816.

The Oiled Wildlife Care Network is providing volunteer information, though help from private citizens is not being requested at this time.

• The Audubon Society is rounding up volunteers here.

• Can't join the clean up?  Local t-shirt designer Fleurty Girl is selling the Rescue Me shirt, with all proceeds going to the Audubon Institute's oil spill rescue efforts of marine mammals and sea turtles.  Printed with soy inks, no petroleum products were used in printing.  You can order shirts here and use discount code RESCUE for free shipping.  

The impact this will have on the Gulf Coast environment and economy has the potential to be devastating for many.  Please take a moment and help in whatever way you can.

****************************************************

UPDATE 5/5/2010 - THE FOLLOWING INFORMATION WAS PROVIDED BY SENATOR DAVID VITTER

****************************************************

Our office has received a significant number of calls and e-mails from people all over the country wanting to help or get involved in cleanup efforts for the oil spill in the Gulf. Also, we are working to stay on top of BP as the situation is assessed and trying to ensure that BP complies with its responsibility to stay involved and assist as many affected Louisiana constituents as possible.

There are two program updates that fishermen and other affected parties need to be aware of.

1. Claims: BP has initiated a program to assist those affected parties who can claim lost wages or other income due to the spill. Full details of the program are not yet available, but BP has indicated that they want to get restitution into the hands of affected parties. At minimum, it is important that affected Louisiana families and individuals get a claim number by calling the hotline: 1-800-440-0858.

2. Vessel of Opportunity: We wanted to inform you that BP has established a new Vessel of Opportunity line for those wishing to offer their vessels for service. The prior e-mail contacts and hotline were overwhelmed by those wanting to help. The new number is 281-366-5511. The new e-mail address is HorizonSupport@OEGLLC.com. Vessel owners will need to provide details about their vessel, including the name, owner, horsepower, length, draft, etc.

Other Pertinent Information:

• To report oiled wildlife, please call 1-866-557-1401 and leave a message. Messages will be checked hourly.

• To discuss spill related damage, please call 1-800-440-0858

• To report oiled shoreline, please call 1-866-448-5816.

• To request volunteer information, please call 1-866-448-5816.

• To contribute an idea or offer resources to the cleanup efforts please submit all relevant information to horizonresponse@piersystem.com.

• To submit an alternative response technology, services or products please email horizonsupport@oegllc.com or call 281-366-5511.

• For the latest information visit www.deepwaterhorizonresponse.com or follow us on Twitter at http://twitter.com/Oil_Spill_2010 or on Facebook at Deepwater Horizon Response.

• For members of the media needing more information regarding the Deepwater Horizon incident, contact the joint information center at 985-902-5231/5240.

If you're a Louisiana constituent affected by this spill and have concerns that BP is not committing enough resources or providing access to the claims program or the Vessel of Opportunity program, please call our hotline at 1-866-345-0931. If you do not receive an answer at that number, please call my Metairie office's direct line at 504-589-2753.

There are renovated homes and then there are renovated homes. This beautiful single family property is now for sale in the historic Algiers Point neighborhood of New Orleans, LA.

From front to back, top to bottom, you’ll find historic details expertly woven with modern amenities and finishes. High ceilings, glowing wood floors, claw foot tubs, door transoms and original fireplace fronts and mantles all recall days gone by. Granite counters, updated plumbing and electrical service, new appliances and updated fixtures provide all of the conveniences of the 21st century.

• Flexible living space, with double parlors, a study and a huge kitchen and dining area that spans the width of the house and opens to the landscaped backyard and patio.
• The private master suite offers wood floors, lots of natural light, a dressing area, walk in closet and the ultimate in luxurious bathrooms.
• The updated kitchen is an entertainer’s dream, with room for multiple cooks and ample space to accommodate guests. The double french doors in the kitchen provide a view of the backyard and allow you to extend your living space right into the outdoors.

Can’t see the video above? Click here.

Please visit 542 Elmira Avenue for more details or contact the West Bank Living Team for your private showing of this beautiful home today.

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!