New Orleans West Bank Living and Real Estate News: Louisiana: New Orleans: Algiers

New on the market, 1656 Steeple Chase Lane is located on a quiet street between the Mississippi River levee and General Meyer Avenue in Algiers. 

Constructed in 1997, this beautiful home boasts an open floor plan, a private master suite, formal dining space, loads of storage and a great location close to shopping, dining, schools, churches and more.  Located on the West Bank, and only a few miles from downtown New Orleans, the commute is a breeze.

NSA New Orleans is just a mile away, making the location perfect for anyone working on base or at the new Federal City that is under construction. 

1656 Steeple Chase Lane features:

• 4 bedrooms
• 2 baths
• Spacious den with vaulted ceiling
• 10 foot ceilings
• Wood burning fireplace
• Large kitchen with breakfast nook, 2 pantries, cooktop, double ovens, dishwasher and disposal
• Master suite with private bath, dual vanities, garden tub, separate shower and a huge walk in closet

Whether you are considering moving up or are relocating to New Orleans, take a tour of 1656 Steeple Chase Lane today.

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Contact the West Bank Living Team for more information.  It would be our pleasure to assist you in finding your next home in the New Orleans area.

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

There are 208 active listings in Algiers

• High list price $895,000
• Low list price $25,000
• Average list price $174,413
• Median list price $152,450

45 homes are under contract or pending sale, priced from $22,500 to $289,000

Based on the number of April sales (14), there is a 14.8 month supply of homes for sale in Algiers

Algiers LA 70131 | Number of Single Family Homes Sold | April 2010

The 70131 portion of Algiers (excluding English Turn) is holding steady, with the exact same number of home sales (57) as at this time last year. Just like most other areas of the West Bank of New Orleans, there are a large number of pending sales – more than likely due to the first time buyers who had to choose a home by April 30th to qualify for the tax credit. This has the potential to create a spike in sales in May and June, but what happens after that remains to be seen.

In April, homes sold were on the market from 5 days to 353 days, with an average marketing time of 103 days. This number varies from neighborhood to neighborhood, so get this week’s home value report to find out the skinny on homes for sale and sold right around yours.

Algiers LA 70131 | Average Single Family Home Sale Prices | April 2010

Average sale prices are up just a smidge, ending April at $156,164. The average home under contract/pending sale is priced at $152,718, so I expect to see the prices drop slightly over the next couple of months.

More about Algiers home sales in April:

• 1 sale was a short sale
• 36% of the homes sold were bank owned or foreclosure properties
• 36% of sellers paid for a home warranty for the buyers
• 43% of sellers paid some type of closing cost assistance for the purchaser

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

Algiers homes for sale
New Orleans West Bank homes for sale

Home buying tips
Home selling tips

This article originally published at West Bank Living

Current real estate activity in Algiers LA 70114 (including Algiers Point)

105 single family homes are for sale

• High list price $389,000
• Low list price $10,000
• Average list price $135,394
• Median list price $110,000

20 homes are under contract or pending sale, priced from $14,900 to $299,000

Based on April sales (6), there is a 17.5 month supply of homes for sale in Algiers 70114

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

After a spike in March, sales fell off again in April in Algiers. Year to date, there have been 30 single family homes sold in the area, compared to 23 at the same time last year. While a drop in the number of sales is not welcomed, the good news for sellers is that there are more homes being sold this year in the community than in 2009.

Days on market is holding steady just above 100 days for the average home sold. Buried in the numbers is some interesting information for sellers. The average active listing has been on the market for 161 days. The average under contract listing has been on the market for 108 days. The average listing sold in April was on the market for 69 days. This tells me that either price or condition needs to be addressed for those properties that have been on the market for an extended period of time.

Algiers LA 70114 | Average Single Family Home Prices | April 2010

After starting out with a bang in January, single family home prices in the 70114 zip code have been hovering closer to the $110,000 mark for the last couple of months. Because of the strong start, the year to date average sale price is still higher than in 2009.

More about April homes sales in Algiers 70114:

• 33% of the sales were bank owned/foreclosure properties
• 33% of sellers provided some type of closing cost assistance to the buyers
• In a break from the rest of the West Bank real estate market, cash and conventional financing are used in 90% of purchases in the area. This is a reflection of the condition of the majority of the homes sold in the area.

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

Home buying tips
Home selling tips

Homes for sale in Algiers LA 70114
New Orleans West Bank homes for sale

This article originally published at West Bank Living

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

195 single family homes are for sale

• High list price $895,000
• Low list price $22,500
• Average list price $174,729
• Median list price $154,900

37 homes are under contract or pending sale, priced from $26,600 to $367,500

Based on the number of sales in March (18), there is a 10.8 month supply of homes for sale in Algiers

Algiers 70131 | Number of Single Family Homes Sold | March 2010

As of the end of the first quarter of 2010, there have been 42 single family homes sold in Algiers 70131 (excluding English Turn) compared to 38 during the first quarter of 2009. Foreclosures and bank owned properties have definitely had an impact on sales in Algiers, with 15 of these homes sold as of March 2010.

The year to date days on market average has dropped to 99, mostly due to (again) the bank owned and foreclosure homes skewing the average. For non-foreclosure properties, the average days on market was 125, while bank owned homes are selling in an average of 53 days. It can be difficult in some cases for sellers to compete with the value that these third parties can offer, so proper pricing to reflect what is happening in your West Bank neighborhood is critical.

Get this week’s free Algiers home value report

Algiers 70131 | Average Single Family Home Sale Prices | March 2010

While we saw a dip in the average sale price from February to March, the year to date average has increased slightly from 2009 to 2010. As of March 2010, the average Algiers home is selling for $158,912. Again, foreclosures are having an impact and need to be taken into account when pricing your home or considering whether that “bargain” you are considering buying is really a bargain.

Foreclosure properties are selling at an average price of $120,287, while non-foreclosures are selling at an average of $175,924. Not only is this important for home sellers to know, but buyers should be aware that homes that are not owned by banks and in good condition will command a substantially higher price.

More about March 2010 home sales in Algiers:

• 33% of the homes sold were bank owned or foreclosed properties
• 28% of sellers paid for a home warranty for the buyers
• 28% of sellers provided some sort of closing cost assistance to the purchasers
• FHA loans remain the most popular choice of buyers, but cash is not far behind

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

You might also be interested in:

• 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, 70114 (including Algiers Point):

106 single family homes are for sale

• High list price $389,000
• Low list price $29,000
• Average list price $137,762
• Median list price $112,500

23 homes are under contract or pending sale, priced from $10,000 to $287,900

Based on the number of homes sold in March (12), there is a 8.8 month supply of homes for sale in the area

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

Home sales in the 70114 zip code of Algiers took a jump in March, bringing the year to date total number of single family homes sold to 25 (compared to 14 during the first quarter of 2009).  This portion of Algiers is really a tale of two different markets – the foreclosure market and the rest of the sales – and foreclosure sales made up 58% of the home sold in this section of Algiers in March.

Days on market is still holding steady, but with the average listing already on the market for 153 days, look for this number to increase in the coming months as some older inventory is hopefully cleared out.

Algiers LA 70114 | Average Single Family Home Sale Prices | March 2010

Sale prices increased in March, bringing the year to date average to $125,158.  The increase in sales prices from 2009 to 2010 can be mostly attributed to an increase in sales in Algiers Point since the highest priced real estate in the zip code is in the historic district and a few sales in that area can have a major impact on the average.  Your

More about March sales:

• 3 homes sold were in Excellent or Very Good condition, while the remainder were in Average, Fair and Poor condition
• 33% of sellers provided some sort of closing cost assistance to the purchaser
• No home warranties were provided by sellers in March
• Because of the high percentage of foreclosures and properties in need of renovation, cash is king in the 70114 zip code, used in more than half of the sales so far in 2010.

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

You might be interested in:

• 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:

105 single family homes are currently for sale

• High list price $389,000
• Low list price $16,900
• Average list price $140,214
• Median list price $113,400

15 homes are pending sale or under contract, priced from $10,000 to $239,900

Based on the number of homes sold in February (6), there is a 17.5 month supply of homes for sale in Algiers

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

As of February 2010, there have been a total of 13 single family homes sold in the 70114 zip code of Algiers.  While 13 may not seem like a lot, the number of sales is up from 7 at the same time in 2009 – a 86% increase in the number of sales year over year.

Most of this increase can be attributed to investors purchasing property in the area, indicated by the number of sales of homes in Poor or Fair condition that were purchased with cash.

Days on market has dropped to 87 for sold homes.  However, the average active listing has been on the market for 151 days, so I expect to see this number increase as we move further into the year.

Algiers LA 70114 | Average Single Family Home Prices | February 2010

Average home sale prices in the 70114 zip code dropped substantially from January to February, but the year to date average is still higher than what we saw in 2008 and 2009.  We have recently seen a slight increase in calls and inquiries about homes in Algiers Point, so I’m hopeful that this trend leads to an increase in sales as well.

What impacted Algiers home sales in February?

• 2 homes were in Excellent condition, 1 home was in Average condition, and 3 homes were in Poor condition
• 2 homes (33%) were bank owned or foreclosed properties
• 1 seller provided closing cost assistance to the buyers
• No sellers provided a home warranty

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

I know, it’s kind of lame that I would get excited that the tree man showed up at my house today. But he’s my favorite guy at this time of year, because he keeps us from being inundated with Buck Moth caterpillars every spring.

See this mean looking little guy? That’s a Buck Moth caterpillar. Not only will he munch on the leaves of your oak trees, he packs a punch in those little spines. Touch one and you’ll quickly find yourself in pain and probably with a whelp to show for it too. If they stayed in the trees it might not be so bad (for me anyway – the tree might disagree), but they have a tendency to drop right out…into the yard and onto unsuspecting people.

flickr photo credit: mullica

If you’ve been stung before, you’ll understand why I was happy when the guys from Tree Man Inc showed up today. In the past, they have sprayed our trees each spring. The downside to spraying is that we would worry about overspray onto vehicles and pets AND it could only be done once the caterpillars were present.

Each year, I’d bring the dogs inside and move my car down the street while they were using huge spray wands to coat the leaves (and caterpillars). If my neighbors didn’t spray as well, then we would still see some of the critters as they migrated over to our trees after the spray wore off in about 3 or 4 days.

Starting this year, they have a very cool new injection application and they were kind enough to explain it to me when I interrupted their work.

First, several small holes are punched in the tree, leaving behind little grommets. I was a little concerned about this at first, but was informed that it’s not a deep hole and doesn’t do any harm to the tree at all.

Next, the tree is injected with the magical stuff that makes caterpillars disappear. (OK, that’s not the scientific explanation, but it’s the end result). Because it’s not a topical application, the tree is resistant to the caterpillars for a much longer time and it can be treated before they make their first appearance.

Now, even if some of those bad boys migrate from a neighboring yard over to our trees we are still protected. While nothing is 100%, I feel better knowing that it won’t be raining creepy, crawly, stingy bugs in my yard.

If you want to get your trees treated, now is the time to do it. Contact the Tree Man and tell him West Bank Living sent you :)

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 welcome you to our community, assist you with any of your real estate needs and have a little fun while doing it!

Originally published at West Bank Living

I love spring. It's my favorite season of all, even if it doesn't last very long in New Orleans. The long term forecast says that we are expected to have a cooler, wetter than normal spring in 2010. I could do without the wet, but the idea of it not being sweltering hot anytime soon is wonderful.

One of my favorite signs of spring is the blooms on the Japanese Magnolia trees. They don't last very long, so I had to grab the camera when I saw this one in Algiers this past weekend.

My elderly neighbor tells me that the most sure sign that winter has passed is when the pecan trees begin to leaf, but that hasn't happened yet, so I'll just be content with gorgeous pink blossoms.

This weekend, we'll spring forward into daylight savings time. I'm really looking forward to that extra hour of sunshine and the change to take more pictures all around the city while enjoying the beauty that is spring in New Orleans.

HAPPY SPRING!

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