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re: New Orleans housing prices in the future
Posted on 1/29/17 at 9:33 pm to chalmetteowl
Posted on 1/29/17 at 9:33 pm to chalmetteowl
quote:
and those people pay a premium for the city proper bc it's all about image and the mailing address for them.
St Bernardian
2
Posted on 1/29/17 at 9:33 pm to Hussss
quote:
But not as far as "neighborhoods" go. No new subdivisions, that's what I was getting at.
It's not like there are many places to put those.
Posted on 1/29/17 at 9:44 pm to zacata88
Barring another natural disaster on the level of Katrina, it's going to continue to rise.
In Boston, neighborhoods continue to grow more and more expensive. Im in a former ghetto area that 5 years ago you could have bought a 3 story home for $150k. Now the rent for a one bedroom apartment is over $2k
In Boston, neighborhoods continue to grow more and more expensive. Im in a former ghetto area that 5 years ago you could have bought a 3 story home for $150k. Now the rent for a one bedroom apartment is over $2k
Posted on 1/29/17 at 10:03 pm to Lakeboy7
quote:sorry our schools are better and we're safer... no one's robbing our local joints
St Bernardian
never said city people were smart
Posted on 1/29/17 at 10:04 pm to AbitaFan08
i just dont think there is enough industry in new orleans to support the high costs
Posted on 1/29/17 at 10:07 pm to Fat Harry
quote:you call that living?
live in the burbs
Posted on 1/29/17 at 10:11 pm to rocket31
That's a fair point.
Posted on 1/29/17 at 10:14 pm to zacata88
New Orleans is land locked, this is crucial to the high home prices. I do believe we have peaked, definitely don't see it going up anytime soon. However, home prices will remain where they are and there will not be any large drops.
Posted on 1/29/17 at 10:26 pm to Lester Earl
That's an enormous jump. I can't think of an area uptown that would have had that kind of increase in such a short time, but I haven't exactly been there regularly for a while.
Some of the houses on Jefferson by Newman have doubled in value, likely thanks in large part to the freret revival. I thought that increase was pretty remarkable.
Some of the houses on Jefferson by Newman have doubled in value, likely thanks in large part to the freret revival. I thought that increase was pretty remarkable.
Posted on 1/29/17 at 10:28 pm to TitleistProV1X
quote:
New Orleans is land locked,
question... riding on the I-10 out to Slidell, i pass up the Michoud exit and then there's two "ghost" exits where if you look on google maps, the exit and an overpass is built but you can't get off there. was something planned in that area and then stopped?
Posted on 1/29/17 at 10:32 pm to chalmetteowl
Yes, the plan was for New Orleans East to continue growing in that direction.
It didn't happen; the East failed.
It didn't happen; the East failed.
Posted on 1/29/17 at 10:32 pm to chalmetteowl
Interstates were being built when the government came in and made that the Bayou Savage wildlife area
Posted on 1/29/17 at 10:38 pm to chalmetteowl
They were going to call it Disney World
Posted on 1/29/17 at 11:52 pm to rocket31
A lot of old money uptown, finance guy's who work remotely, doctors and entrepreneurs/property owners uptown. These people in their $1m house are not working at the plant in Belle Chase.
NOLA is land locked and there is nowhere to build, barring another Katrina I don't see property prices rising uptown/ Garden Dist. anytime soon.
NOLA is land locked and there is nowhere to build, barring another Katrina I don't see property prices rising uptown/ Garden Dist. anytime soon.
This post was edited on 1/29/17 at 11:54 pm
Posted on 1/30/17 at 12:48 am to Lakeboy7
quote:
Lakeboy7
My wife and I are about to start on our first flip! Any advice?
Posted on 1/30/17 at 1:08 am to Tigerbait337
Appropriately timed article:
LINK
LINK
quote:
According to the New Orleans Metropolitan Association of Realtors, single-family homes sales flattened in 2016 compared to 2015, with the second half of the year seeing more of a slowdown. Between July 1 and the end of the year, fewer homes sold and they sat longer days on the market although the overall average price ticked up slightly.
quote:
“Even uptown we are seeing apartments that were leasing for maybe $1,800 last year are now sitting on the market far longer and leasing for only around $1,600,” Eager-Allen said. “So there is a correction taking place and I think owners should be aware of that.”
Posted on 1/30/17 at 8:51 am to Tigerbait337
quote:
My wife and I are about to start on our first flip! Any advice?
Relationships with contractors is the key, we have a GC that demands good work.
Since my GF is a broker she has time to be at the projects and I'm there on weekends doing they yard, fence building etc. You cant be an absentee investor. Work hard and try to save money but understand when to let the pros do their thing, roofing, electrical, HVAC, plumbing.
Posted on 1/30/17 at 8:55 am to TunaTigers
quote:
Gentilly is starting to pop off again
A couple of friends have bought in Gentilly the past 2-3 years. If it keeps going the way it has been then that's going to be a really nice area. The only thing it lacks right now is convenient access to the rest of the city and neighborhood restaurants/bars.
Also posters should look up the term "Land-Locked". New Orleans is the very opposite of the term.
This post was edited on 1/30/17 at 9:01 am
Posted on 1/30/17 at 9:35 am to zacata88
Probably somewhere between B and C. I think most would agree that there is a price correction happening in the market.
I have friends who live in Central City (in the better part close to O.C. Haley) who brought a fully renovated double 2-3 years ago with a yard for for about $330,000 which was not a bad price for a double. However, today there is a new construction single-family house across the street from them with no yard that was originally listed for more than $400,000. Last I heard price they dropped the price more than $40,000 and it still hasn't sold after a 3 months.
So there is definitely a correction going on the market, but overall I don't see any of the desirable neighborhoods becoming cheaper.
I have friends who live in Central City (in the better part close to O.C. Haley) who brought a fully renovated double 2-3 years ago with a yard for for about $330,000 which was not a bad price for a double. However, today there is a new construction single-family house across the street from them with no yard that was originally listed for more than $400,000. Last I heard price they dropped the price more than $40,000 and it still hasn't sold after a 3 months.
So there is definitely a correction going on the market, but overall I don't see any of the desirable neighborhoods becoming cheaper.
Posted on 1/30/17 at 10:56 am to Saskwatch
quote:
The only thing it lacks right now is convenient access to the rest of the city and neighborhood restaurants/bars.
I keep seeing new construction go up for sale in Gentilly and I'm realizing I'd get more for my money, but I'm still not sold on the area. The lack of the conveniences other parts of the city have keep me from seriously considering it.
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