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re: So this is what you get for $500k in New Orleans right now

Posted on 10/23/14 at 9:54 am to
Posted by CAD703X
Liberty Island
Member since Jul 2008
78810 posts
Posted on 10/23/14 at 9:54 am to
quote:

that house is staged like that for a very specific type of person

all of that left out was left out for a reason
Posted by TheWiz
Third World, LA
Member since Aug 2007
11695 posts
Posted on 10/23/14 at 9:55 am to
quote:

that house is staged like that for a very specific type of person all of that left out was left out for a reason

Hoarders?
Posted by Napoleon
Kenna
Member since Dec 2007
69464 posts
Posted on 10/23/14 at 9:56 am to
quote:

Hoarders?


Hipsters?
Posted by Salmon
On the trails
Member since Feb 2008
83695 posts
Posted on 10/23/14 at 9:56 am to
it is staged to looked "lived in"

you think all those vintage pics on the floor, the french press on the island, the guitar, the bike, etc were just left out on accident?
Posted by tgrbaitn08
Member since Dec 2007
146214 posts
Posted on 10/23/14 at 10:09 am to
The problem with this property is , is that's it's a double. No one can justify paying $450,000 and only get $3200 a month in rental income.


The owner of this property lives in LOS ANGELES, CA. So what you're seeing as far as decor and clutter is the tenants shite, not the owners.


The owner bought this property in June of 2005, right before Katrina.....for $315,000

quote:

06-07-2005 $ 315,000


Not sure if this house flooded, but it seems they are trying to rape someone with that $499,000 asking price.


I'd pay $350,000





This post was edited on 10/23/14 at 10:12 am
Posted by Salmon
On the trails
Member since Feb 2008
83695 posts
Posted on 10/23/14 at 10:12 am to
quote:

The owner bought this property in June of 2005, right before Katrina.....for $315,000


hasn't the area and NOLA in general greatly improved since Katrina?
Posted by tgrbaitn08
Member since Dec 2007
146214 posts
Posted on 10/23/14 at 10:13 am to
quote:

hasn't the area and NOLA in general greatly improved since Katrina?



yes, but it's a rental property....not a single family home.
Posted by Salmon
On the trails
Member since Feb 2008
83695 posts
Posted on 10/23/14 at 10:13 am to
rent hasn't gone up?
Posted by Y.A. Tittle
Member since Sep 2003
102015 posts
Posted on 10/23/14 at 10:14 am to
quote:

quote:
The owner bought this property in June of 2005, right before Katrina.....for $315,000


hasn't the area and NOLA in general greatly improved since Katrina?


Yeah, I'm pretty surprised to know a property like that in that area was going for that much at that time. Damn, that's a lot of thats.
Posted by tgrbaitn08
Member since Dec 2007
146214 posts
Posted on 10/23/14 at 10:15 am to
quote:

rent hasn't gone up?



the ad says they are getting $1650/month rent for each side.(1175 sq ft)

Thats $1.40 a sq ft....thats about as high as you're going to get in that area
This post was edited on 10/23/14 at 10:18 am
Posted by Solo
Member since Aug 2008
8247 posts
Posted on 10/23/14 at 10:47 am to
Any areas that were high and dry during Katrina are positioned extremely well. Throw in the fact that they are all historic neighborhoods with unique architecture, and I think those are the safest places to dodge a bubble bursting in Orleans Parish.

My 0.02
Posted by Slinky
Member since Dec 2013
3118 posts
Posted on 10/23/14 at 10:52 am to
In the Marigny near St. Claude?

frick that.

I'd buy this house in Metairie for LESS than that one.
This post was edited on 10/23/14 at 10:56 am
Posted by tgrbaitn08
Member since Dec 2007
146214 posts
Posted on 10/23/14 at 11:01 am to
quote:

I'd buy this house in Metairie for LESS than that one.


I wouldnt
Posted by SlowFlowPro
Simple Solutions to Complex Probs
Member since Jan 2004
425838 posts
Posted on 10/23/14 at 11:02 am to
quote:

that house is staged like that for a very specific type of person

no TVs allowed
Posted by GreatLakesTiger24
One State Solution
Member since May 2012
56041 posts
Posted on 10/23/14 at 11:03 am to
This really isn't that surprising.
Posted by Sid in Lakeshore
Member since Oct 2008
41956 posts
Posted on 10/23/14 at 12:43 pm to
quote:

People in New Orleans are dumb. It's almost like they forgot what happened there 9 years ago


quote:

Thib-a-doe Tiger


Is Thib-a-doe immune from storms?
Posted by cokebottleag
I’m a Santos Republican
Member since Aug 2011
24028 posts
Posted on 10/23/14 at 12:55 pm to
That house needs a serious update.

It's been at the 500k price since august.

Here's your stats on the bubble. It's a big one:

LINK



Posted by rocket31
Member since Jan 2008
41819 posts
Posted on 10/23/14 at 1:38 pm to
thanks. thats crazy, any projections on when the bubble might burst?
Posted by member12
Bob's Country Bunker
Member since May 2008
32145 posts
Posted on 10/23/14 at 1:40 pm to
quote:

that house is staged like that for a very specific type of person


Yes....it's staged for a moron that wants to spend $500,000 on a dump in a 3rd world city.
This post was edited on 10/23/14 at 1:41 pm
Posted by lsupride87
Member since Dec 2007
96782 posts
Posted on 10/23/14 at 1:48 pm to
quote:

Here's your stats on the bubble. It's a big one:
Oh, I know. Cant wait for that shite to pop. I will swoop in like a dirty vulture.

(no offense to those who bought high )
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