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

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For being a trashy town, people sure seem to be willing to invest in it

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I know it's pretty crazy huh? It's the worst place in the world to live for a lot of the posters here yet if a house is up for sale for 48 hours you probably already missed your chance!

What blows my mind the most about New Orleans is how important the location is. Look at Lakeview where if you are on one side of West End the lots are $150k-$175k and then on the other side of the street they are $200k-$240k! And then if you wanna go just to the other side of the canal in Bucktown or Metry the prices fall by about 50%. Location is KEY!

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You should get out more.

These prices are reflective of what the market will bear. The envy is strong up in here.

5 BR 4.5 bath home (4,900 sf) near my home just sold for $425K. They tore it down and are going back with new Construction. They took out the pool too.

Zillow link

For being a trashy town, people sure seem to be willing to invest in it.

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Sid, you and I must live very very close to each other. I saw that house had sold, but didn't realize they paid that much.

I'll be selling my house in the spring, and I hope you're right about property values. I could use a nice gain this time since I took a bath selling my prior house out of state during the housing bust.

I just don't see the high $$ per sq ft values in Lakeshore, though, that you see in Lakeview. Perhaps because most of the houses are older. It's also not as 'young' a neighborhood though I've seen more younger couples with kids on walks lately.