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Real Estate Investment in NOLA - Treme/Lafite
Posted on 10/10/17 at 12:45 pm
Posted on 10/10/17 at 12:45 pm
I'm a previous Uptown resident. I lived there for a couple of years before work took me away three years ago. I've now got some flexibility and am looking for a house as a part-time residence/investment.
I have always loved Mid City and the Bayou St. John area but the real estate market there seems overpriced for what you are getting. I've started to really look seriously at listings closer toward downtown in Treme' near the Greenway. Am I crazy to consider this neighborhood as an area where I can get some value and possibly see some appreciation on my investment in the next 10-15 years?
I love the convenience of that neighborhood. Can hit the interstate with ease and you can get to most of the city fairly easily from there. Seems like the area is up and coming and I'd see some appreciation. I understand the crime in this area is higher than in other places. I'm looking for more of an opinion on the direction of property values there rather than the feasibility of actually living there.
Can anyone with a little more experience with this market provide some insight?
I have always loved Mid City and the Bayou St. John area but the real estate market there seems overpriced for what you are getting. I've started to really look seriously at listings closer toward downtown in Treme' near the Greenway. Am I crazy to consider this neighborhood as an area where I can get some value and possibly see some appreciation on my investment in the next 10-15 years?
I love the convenience of that neighborhood. Can hit the interstate with ease and you can get to most of the city fairly easily from there. Seems like the area is up and coming and I'd see some appreciation. I understand the crime in this area is higher than in other places. I'm looking for more of an opinion on the direction of property values there rather than the feasibility of actually living there.
Can anyone with a little more experience with this market provide some insight?
4
Posted on 10/10/17 at 1:57 pm to FatCatLSU
quote:
I have always loved Mid City and the Bayou St. John area but the real estate market there seems overpriced for what you are getting.
quote:
Can anyone with a little more experience with this market provide some insight?
I'm not an expert, but it seems that the area you are looking at has the same issue.
Treme has been a pretty hot area and there does seem to be more development along the Greenway in certain areas.
Posted on 10/10/17 at 2:16 pm to FatCatLSU
Now is the time to buy near/along the Greenway. Get on your bike and ride all over the area. There are definitely issues, and crime is a big problem, but that area is ripe for gentrification.
Treme is already expensive.
Treme is already expensive.
Posted on 10/10/17 at 2:54 pm to Solo
Ive lived uptown, qtr, cbd and treme. I really liked treme best. I was at treme street and esplanade, good spot imo. Never had a single problem from the life long locals. The transplants with their Bernie signs were more of a problem.
Posted on 10/11/17 at 10:48 am to FatCatLSU
You know, the values there certainly seem to be going up.
Personally... I truly wonder what the upper limit for this market is. Who is buying all these properties?
We don't have the higher-end job market to support all these super-high housing vales in the city. That tells me a lot of this is being bought as investment property - lot of short term rentals. How much room is left to run in that arena? What happens when interest rates tick up?
Sure seems like a bubble is forming in the city. I know St Bernard has had an uptick in sales lately especially in Arabi because so many locals have been priced out of the city.
Personally... I truly wonder what the upper limit for this market is. Who is buying all these properties?
We don't have the higher-end job market to support all these super-high housing vales in the city. That tells me a lot of this is being bought as investment property - lot of short term rentals. How much room is left to run in that arena? What happens when interest rates tick up?
Sure seems like a bubble is forming in the city. I know St Bernard has had an uptick in sales lately especially in Arabi because so many locals have been priced out of the city.
Posted on 10/11/17 at 11:19 am to LSUFanHouston
I would be concerned with investing in the city at this point unless you have a really good feel for the neighborhood you're investing in. It seems like a lot of the hot areas when I first moved down (2011) are now overpriced, and a lot of the issues that plague the city like crime, flooding, infrastructure, etc. have not gotten better. This migration trend is concerning as well:
A lot of the enthusiasm that brought new residents here for the movie industry, biodistrict, etc. has faded. What's the city going to do to standout and attract more young people to move to Orleans parish? What's it going to do to keep people here?
I'm certainly no real estate expert, but I'd also be concerned with the number of apartments/condos springing up around the CBD. If the city isn't growing (in terms of migration only), I'd be concerned with how those new developments will impact housing close by that doesn't have the safe appeal of a apartment building or condo tower.
Beyond that, you're really close to the 7th ward which has been the worst part of the city for crime this year.
A lot of the enthusiasm that brought new residents here for the movie industry, biodistrict, etc. has faded. What's the city going to do to standout and attract more young people to move to Orleans parish? What's it going to do to keep people here?
I'm certainly no real estate expert, but I'd also be concerned with the number of apartments/condos springing up around the CBD. If the city isn't growing (in terms of migration only), I'd be concerned with how those new developments will impact housing close by that doesn't have the safe appeal of a apartment building or condo tower.
Beyond that, you're really close to the 7th ward which has been the worst part of the city for crime this year.
Posted on 10/11/17 at 12:04 pm to FatCatLSU
a lot has changed in 3 years
i personally would not invest in nola real estate in 2017
i personally would not invest in nola real estate in 2017
Posted on 10/11/17 at 10:10 pm to rocket31
Agree with the 2 posts above. I looked hard into buying property the last year or so but I think things aren't going to go up from here. Unless you were to find a fantastic deal.
Posted on 10/13/17 at 2:23 pm to saderade
I'd consider the canal side of the greenway before the treme side
Posted on 10/13/17 at 2:28 pm to AlexLSU
quote:
This migration trend is concerning as well:
That chart is no bueno.
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