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re: Help me understand Nola housing market UPDATE
Posted on 7/21/20 at 12:04 pm to TigreB77
Posted on 7/21/20 at 12:04 pm to TigreB77
you're out here trying to compare midcity to lake view dude? midcity have great places for families and ppl. great bars. great coffee. great bike paths. great great stuff
This post was edited on 7/21/20 at 12:05 pm
1
Posted on 7/21/20 at 12:04 pm to CE Tiger
That is smaller than what I am looking for, but the location is great. It seems to be a great starter home, but I would imagine first time home buyers are extremely nervous right now.
Posted on 7/21/20 at 12:06 pm to tigeralum06
Gotcha.
Yea I feel like starter homes shouldn’t be 300K+ but that seems like what the market is so who knows
Yea I feel like starter homes shouldn’t be 300K+ but that seems like what the market is so who knows
Posted on 7/21/20 at 12:10 pm to Mr Perfect
That’s great and all, but it still floods like crazy.
Posted on 7/21/20 at 1:04 pm to tigeralum06
quote:
That is smaller than what I am looking for, but the location is great. It seems to be a great starter home, but I would imagine first time home buyers are extremely nervous right now.
I have a friend selling in area on Smith St if interested. Think 2100 sq ft.
Posted on 7/21/20 at 2:24 pm to beauxkner
The housing market lagged Katrina by about a year, so that is when I think you will find the best buys, around March 2021 through August 2021, if you can wait that long.
Posted on 7/21/20 at 8:00 pm to JohnnyKilroy
quote:As someone that hates Orleans Parish (the crime, flooding, property taxes, etc) my wife would say the concentration of young families and the ability to walk to restaurants, coffee shops, groceries, etc. You don’t have that in Metairie. Still would take my money and run but we do love our house and our location.
don't understand Lakeview. It's the feeling of Metairie with all the downsides of orleans parish.
It also takes less time for me to get places uptown, cbd and even some midcity than the people who live deep in Lakeview.
Posted on 7/22/20 at 9:24 am to beauxkner
As a longtime resident of Orleans Parish, I see many around the city, including uptowners that have been entrenched for generations, leaving/looking to leave. Most are looking to Old Metairie, others are headed to second homes out of state. There are Orleans homeowners paying $15-$20K/year for taxes and insurance on their primary residence, while getting very little to no return. Police do not respond to non-violent crime, sewerage and water board is irreparably broken and gauging the residents for basic trash disposal and water services, and property taxes continue to increase, all while you are forced to put your kids in private schools.
The level of apathy for the residents is at an all-time high, but the calming sedative was the access to restaurants, bars, festivals and events in the city. Take away the positive aspects of the city and you have people reexamining their surroundings.
With the city and local economy built on/running on tourism dollars, you have to imagine that the real estate market takes a dip in 2021.
The level of apathy for the residents is at an all-time high, but the calming sedative was the access to restaurants, bars, festivals and events in the city. Take away the positive aspects of the city and you have people reexamining their surroundings.
With the city and local economy built on/running on tourism dollars, you have to imagine that the real estate market takes a dip in 2021.
Posted on 7/22/20 at 9:29 am to NOLA Tiger
I’m looking potentially to buy next year so that may work out great.
Posted on 7/22/20 at 9:45 am to jlovel7
many ppl will jump at low prices in Nola dude. millennials have been waiting for this for years.
btw like the other poster say, women wanna live here and simps will do what their women tell them to do.
living in Nola is a status symbol for many girls lol
btw like the other poster say, women wanna live here and simps will do what their women tell them to do.
living in Nola is a status symbol for many girls lol
Posted on 7/22/20 at 10:19 am to Mr Perfect
Women that like $1000 water bills and cops that arrive several hours after you call them?
Posted on 7/22/20 at 10:26 am to TJG210
ive had to call the cops twice (both times they arrived within 30 minutes)
swbno is horrible, but every time ive had a higher than normal bill theyve told me to just pay the average and not worry about it
do people really have that bad of experiences in new orleans or do they just like to complain? id genuinely love to hear more feedback.
there is a lot of things wrong with this city, but the bad stuff seems to get way overblown at least from my experiences (lived here 7 yrs)
Posted on 7/22/20 at 10:36 am to Mr Perfect
Hey man. You’re an absolute imbecile. I’m not sure if you can read what I said. I know you can’t comprehend it. I also know you clearly don’t understand that Lakeview is Orleans Parish. Please leave this thread and stop trolling and posting absolutely ignorant crap.
Posted on 7/22/20 at 10:37 am to JonTigerFan11
not trolling at all. you said Metairie and Lakeview would be hot spots and then posters came here and said they can't get rid of their properties in these locations.
Posted on 7/22/20 at 10:38 am to Mr Perfect
When did I say Lakeview? Lakeview is in Orleans Parish? Orleans Parish is a disaster. Why would anyone buy property in a massive flood zone. What are you talking about?
Why would I comment my worries about the Orleans Parish housing market and people leaving the city then say move to Lakeview? Are you unaware Lakeview is in Orleans Parish?
Why would I comment my worries about the Orleans Parish housing market and people leaving the city then say move to Lakeview? Are you unaware Lakeview is in Orleans Parish?
This post was edited on 7/22/20 at 10:41 am
Posted on 7/22/20 at 10:50 am to rocket31
quote:
do people really have that bad of experiences in new orleans or do they just like to complain? id genuinely love to hear more feedback.
Like I mentioned earlier, friend had water shooting from his lawn for weeks before anyone came to fix it.
Just can’t understand why anyone would pay 2x water bills, and insane property tax to only receive subpar services.
Posted on 7/22/20 at 11:28 am to rocket31
quote:
do people really have that bad of experiences in new orleans or do they just like to complain? id genuinely love to hear more feedback.
there is a lot of things wrong with this city, but the bad stuff seems to get way overblown at least from my experiences (lived here 7 yrs)
Until recently, I would say that the residents ignored the issues with a great meal and cocktails. The fall gave us football and the spring gave us festivals. Many traveled during the summer. The spill over of crime and other problems into the productive communities were minimal.
In the last 3-4 years, the bashing of car windows Uptown is unbelievable, as one example. In a 1-2 mile radius from Audubon Park you can ride around and count 9-10 cars with bags over the driver's side window of vehicles.
S&WB has always been bad, but never issues like the billing errors now.
The drainage and pumping issues with rainfall is much worse now. I can't remember this much routine flooding across the city
City Hall is more focused on social issues than quality of life for the residents. I think you could say some of the complaints are overblown, but anyone that cares about the future of the city has to be really concerned with what is going on. At the minimum, what happens if the tourism dollars do not return? The tax revenue use and consumption by the city government has always been inefficient but a large portion came from taxes generated by tourist activity.
Posted on 7/22/20 at 12:07 pm to NOLA Tiger
I work in an industry very closely tied to tourism.
If what we're being told is true about the projections of tourism in Nola for the next 2-3 years, things are going to get very ugly.
From a homebuying perspective, it will probably be a buyer's paradise. But with the lack of businesses that will likely end up closing and lack of tax revenue being generated from tourists, taxes on property and other areas are going to skyrocket even further.
As a native of the city who was thinking I may return one day, I'm extremely worried for the future.
I also still own a home in Jefferson Parish that we're currently renting out, with the lease expiring at the end of November. My wife and I are trying to decide if we should sell it because the market may be going down - or - on the other hand, hold onto it because, as noted in this thread, a ton of Orleans Parish homeowners are going to bail to Jefferson, thus possibly causing the value to actually go up.
If what we're being told is true about the projections of tourism in Nola for the next 2-3 years, things are going to get very ugly.
From a homebuying perspective, it will probably be a buyer's paradise. But with the lack of businesses that will likely end up closing and lack of tax revenue being generated from tourists, taxes on property and other areas are going to skyrocket even further.
As a native of the city who was thinking I may return one day, I'm extremely worried for the future.
I also still own a home in Jefferson Parish that we're currently renting out, with the lease expiring at the end of November. My wife and I are trying to decide if we should sell it because the market may be going down - or - on the other hand, hold onto it because, as noted in this thread, a ton of Orleans Parish homeowners are going to bail to Jefferson, thus possibly causing the value to actually go up.
This post was edited on 7/22/20 at 12:09 pm
Posted on 7/23/20 at 11:55 am to Mr Perfect
quote:No, he didn’t. They had $24 million for people who are substantially behind on rent and facing eviction who made less than 30% average median income. Not mortgages. The money ran out in 4 days.
just gave big money to ppl who can't pay mortgages
Posted on 7/23/20 at 12:29 pm to tigergirl10
It is beginning to hit home to long time residents. The below is from an old friend who works for the Fire Department.
10k in property tax is unreal with the sky high insurance rates. I would be out ASAP as the Destroya is clearly getting close to irreparable long term damage. Or for her that might be mission accomplished...
My property assessment from the city went up by $285,200 with no recent improvements. If my appeal isn’t approved, the city will ask nearly $10,000 per year in property taxes from me for a house I purchased for $187,500 fourteen years ago. In addition to the $6920.33 I pay for homeowners insurance and approximately $800 I pay for flood insurance annually, nearly 30% of my taxable income will be eaten up. Where will my principle and interest payments come from while I also pay private school education for my two daughters because I can’t seem to get them into successful public schools? I want nothing more than to remain in the city I love and have called home for nearly 42 years, but I can not afford this! I’m all for paying my fair share, but I’m not sure this is it. Fingers crossed my City still wants me to be a resident!
10k in property tax is unreal with the sky high insurance rates. I would be out ASAP as the Destroya is clearly getting close to irreparable long term damage. Or for her that might be mission accomplished...
My property assessment from the city went up by $285,200 with no recent improvements. If my appeal isn’t approved, the city will ask nearly $10,000 per year in property taxes from me for a house I purchased for $187,500 fourteen years ago. In addition to the $6920.33 I pay for homeowners insurance and approximately $800 I pay for flood insurance annually, nearly 30% of my taxable income will be eaten up. Where will my principle and interest payments come from while I also pay private school education for my two daughters because I can’t seem to get them into successful public schools? I want nothing more than to remain in the city I love and have called home for nearly 42 years, but I can not afford this! I’m all for paying my fair share, but I’m not sure this is it. Fingers crossed my City still wants me to be a resident!
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