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LA. Disaster Real Estate Spike?
Posted on 8/15/16 at 7:43 am
Posted on 8/15/16 at 7:43 am
I recall that after Katrina there was a spike in house prices for intact homes in Baton Rouge and the Nothshore.
Could this bring a repeat of that?
Could this bring a repeat of that?
10
Posted on 8/15/16 at 7:47 am to TrueTiger
probably.
Can you imagine how awful it is for someone to list their house before all this happen? Especially if they have a good bit of equity.
Can you imagine how awful it is for someone to list their house before all this happen? Especially if they have a good bit of equity.
Posted on 8/15/16 at 7:48 am to TrueTiger
I hope it doesn't happen again. What a way to take advantage of people when they are rock bottom. My daughter lost her house in Katrina. She wanted to find a place in BR to be near us, but the closest she could find was a filthy trailer in Church Point for $2000/month!!! Hope the owner burns in hell for a long time.
Posted on 8/15/16 at 7:57 am to Isabelle81
Hate the game not the player.
Posted on 8/15/16 at 8:13 am to TrueTiger
quote:
I recall that after Katrina there was a spike in house prices for intact homes in Baton Rouge and the Nothshore.
Could this bring a repeat of that?
That spike was an anomaly.
Only New Orleans, a city with a reputation ridden with murder/ crime, corrupt politics, and poor education see a RE spike after getting ravaged by a hurricane.
Posted on 8/15/16 at 8:21 am to TrueTiger
I am sure that I could make BANK if I sold my place but where the hell would I move?
Posted on 8/15/16 at 8:31 am to Restomod
That's not true. After Ivan, Pensacola saw massive spikes in real estate prices. We lived there then.
Posted on 8/15/16 at 8:34 am to Mr. Blutarski
It's simple supply and demand. Supply of usable houses goes down and an increase in customers (people whose houses flooded) goes up. Happened big time on the MS Coast after Katrina
Posted on 8/15/16 at 8:38 am to TrueTiger
Expect massive spikes especially in areas where no flooding hit. Some people after flooding are "gun shy". It's nasty to deal with, and most only do it once. Had an office flood once. Wasn't something I'd wish on my worst enemy. Anyways, people unscathed by the flood are now in prime real estate areas.
Posted on 8/15/16 at 8:42 am to Passing Wind
Massive amount of movement to NOLA & Houston areas right now by businesses and people who flooded. This will become more pronounced towards the end of the weeks.
Posted on 8/15/16 at 8:43 am to Passing Wind
Started a thread about this on the Money board. Guys on there who have experience in RE seem to think it won't be as drastic a change as you'd think. I'm high and dry right now. I'm more concerned about increasing my equity than selling so I can get rid of PMI.
And like I told my SO when she mentioned selling to me, where are we gonna buy?
. Sell high and then buy high? I don't think so.
And like I told my SO when she mentioned selling to me, where are we gonna buy?
. Sell high and then buy high? I don't think so.
Posted on 8/15/16 at 8:45 am to ihometiger
So you are saying business have already moved - since the weekend
Posted on 8/15/16 at 8:49 am to Mr. Blutarski
quote:
That's not true. After Ivan, Pensacola saw massive spikes in real estate prices. We lived there then.
While I don't doubt that, it's a different market. There will always be a draw /command of interest to live on/near the beach.
Posted on 8/15/16 at 8:51 am to Gorilla Ball
I'm saying many national corporate decisions are being or have been made to relocate out of Baton Rouge.
Posted on 8/15/16 at 8:51 am to TrueTiger
quote:
LA. Disaster Real Estate Spike? by TrueTiger
I'll surely be putting the bug in the ear of a few neighbors I would like to see move out of my neighborhood.
Posted on 8/15/16 at 8:52 am to Isabelle81
quote:
She wanted to find a place in BR to be near us, but the closest she could find was a filthy trailer in Church Point for $2000/month!!!
imagine how hard it wouldve been for her to find something without her willingness to pay the high rate.
Posted on 8/15/16 at 8:53 am to TrueTiger
Can I list my house as riverfront property now?
Posted on 8/15/16 at 8:56 am to TrueTiger
For people trying to cash in on this, in my opinion it only really works if you already have a house plus one listed. Otherwise, you can sell high but then have to buy high as well.
Posted on 8/15/16 at 9:13 am to JOHNN
How much effect will be felt in the New Orleans market?
Posted on 8/15/16 at 9:13 am to ihometiger
quote:My former company was on the fence about shutting down operations out of Baton Rouge/New Orleans for economic reasons... and then Katrina hit. Within three months we had closed up shop and it was move to Houston or be out of job for me. Sold house in Baton Rouge without even listing it for "market value" in fall of 2005. Lets just say market value post hurricane was much higher than the summer of 2005.
I'm saying many national corporate decisions are being or have been made to relocate out of Baton Rouge.
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