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What's the real estate market look like in NOLA
Posted on 4/29/20 at 7:34 am
Posted on 4/29/20 at 7:34 am
Is the real estate market in NOLA shot because of COVID-19 and the impact it is having on businesses and jobs? I'm looking to sell an investment property (double) in Lakeview and am afraid that nobody will want to live in NOLA anymore since I'm sure the taxes will skyrocket - even more because the city will be broke.
Any realtors out there have any insight on the real estate situation as it pertains to NOLA?
Any realtors out there have any insight on the real estate situation as it pertains to NOLA?
13
Posted on 4/29/20 at 7:36 am to lshuge
I have the exact same concern.
Posted on 4/29/20 at 8:07 am to lshuge
Not a realtor and don't claim to have expertise in that area. But it seems pretty obvious that the city is fricked at least in the short term, which will impact real estate. And you know that many of the short term rental owners have to be desperate and wanting to sell.
Posted on 4/29/20 at 9:10 am to lshuge
I'm a Realtor and investor and would be interested in hearing more about this double. I'm looking to acquire more properties.
ETA: I don't know about other agents, but my business hasn't slowed down at all. Real estate is still being sold.
ETA: I don't know about other agents, but my business hasn't slowed down at all. Real estate is still being sold.
This post was edited on 4/29/20 at 9:12 am
Posted on 4/29/20 at 9:42 am to lshuge
Shoot me an email at Tigertjg210@yahoo.com. I have a couple clients buying doubles right now.
My business hasn’t slowed down to be honest.
My business hasn’t slowed down to be honest.
Posted on 4/29/20 at 10:39 am to lshuge
I know 2 more agents that say business has been the same.
Posted on 4/29/20 at 10:44 am to Tiger Attorney
As an appraiser I watch the market data about as much as anyone
Right now, it's sort if too soon to tell honestly. Inventory and.pendinf contracts are a little down YOY, but I want to see how we rebound (or not) once stay at home is lifted
Right now, it's sort if too soon to tell honestly. Inventory and.pendinf contracts are a little down YOY, but I want to see how we rebound (or not) once stay at home is lifted
Posted on 4/29/20 at 10:48 am to Shankopotomus
I think the commercial market will be very rough. Especially in the quarter/canal for a while.
I am a lessor and lessee downtown. On both sides there will be 50% contraction in the short term. Meaning I am dropping some leases and some people are dropping leases on me.
I am a lessor and lessee downtown. On both sides there will be 50% contraction in the short term. Meaning I am dropping some leases and some people are dropping leases on me.
Posted on 4/29/20 at 11:55 am to lshuge
My neighbor just accepted an offer on his house that he's had on the market for 16 months.....the couple is from Arkansas thought is buying the house.......3 other houses just sold on my street.
I mentioned to my agent I deal with this summer that I was thinking about putting my house on the market just to test it and shes been blowing me up....here are some of the text and emails shes been sending me
This started right after Mardi Gras
I mentioned to my agent I deal with this summer that I was thinking about putting my house on the market just to test it and shes been blowing me up....here are some of the text and emails shes been sending me
This started right after Mardi Gras
quote:
How time flies! Hope you had a great Mardi gras??
Are we ready to list your house?
Thank you!
quote:
The market is a little crazy. But I think nows the time to get your house in order to sell!
Organize de clutter pressure wash
Etc.
I’m still working..
I had 2 closings one last week virtually. One this week I did attend w mask and gloves.
Crecent Title ...
You can sit in your car to close and sign or do by email. Up to the client.
Again everyone has protective gear. You can not walk in the office.
My listings are all selling. Got an offer today on bellaire.
A showing today on Upperline.
We are all wearing protective gear.
Appraiser’s are too.
Rates are sooo low. Money is cheap.
Now is the time to buy and sell ..less competition!
In a couple of months I think it’ll be similar to Katrina times. Busiest time of my life.
Let’s discuss at your convenience!
quote:
Hope you and your family are well!
Thinking of you for this home!!
Let me know if you’re interested?
Nows the time to start organizing your home and getting on the market
While people have time on their hands.
Stay Home! Stay Healthy!
quote:
Hey
Hope you and your family are well!
Just touching base about listing your home.
Give me a call when you have a minute.
Thank you!
Posted on 4/29/20 at 12:30 pm to Tiger Attorney
oh for sure, in these threads I am always assuming residential is the discussion
Commercial sector .. let's just say is going into a disruptive phase ... WORLDwide
There will be differences market to market, of course. In Louisiana, you could see differences parish by parish as the "post" Corona local policies, taxes, TAX BASES, etc. shakes out.
Commercial sector .. let's just say is going into a disruptive phase ... WORLDwide
There will be differences market to market, of course. In Louisiana, you could see differences parish by parish as the "post" Corona local policies, taxes, TAX BASES, etc. shakes out.
Posted on 4/29/20 at 12:48 pm to tgrbaitn08
there are still pockets of high demand and movement ... you are really going to see in the short-term HOT areas get HOTTER and SLOW areas get COLDER
Posted on 4/29/20 at 12:58 pm to tgrbaitn08
quote:
tgrbaitn08
That's annoying af. I hope I never have to become that agent. I understand staying in contact to be first of mind, but LAWD!
Posted on 4/29/20 at 1:01 pm to Cousin
Well to be fair I bought my first house from her 16 years ago and have since bought and sold 3 other houses/rentals from her so we kinda have a history.
Posted on 4/29/20 at 2:33 pm to lshuge
Honestly, if New Orleans market is going to take a hit, wouldn’t that mean that metro Baton Rouge area would also have a sluggish real estate market?
Posted on 4/29/20 at 3:55 pm to lshuge
I’m wondering the same too. I don’t know how Lakeview is able to demand these prices. I see many for sale signs in Lakeview in the near future. In addition with many Airbnb’s no longer cash flowing like they used to hosts will sell.
Posted on 4/29/20 at 4:29 pm to TigreB77
well, locally in areas like Lakeview it has been a supply/demand issue driving up prices in certain areas
Posted on 4/29/20 at 4:34 pm to Shankopotomus
Also a very little hot area is eastern Metairie between Veterans and the lake, bounded by Bonnabel and the 17th street canal. New construction is all over the damn place.
Had two house on my block get built in the last few months that are easily over $600K with a bigger one going up right now as well.
I would say 20 houses are under construction at this moment and will all average $600K.
Had two house on my block get built in the last few months that are easily over $600K with a bigger one going up right now as well.
I would say 20 houses are under construction at this moment and will all average $600K.
Posted on 4/29/20 at 5:23 pm to notiger1997
We are trying to sell a house in Moneyhill. It’s been on the market a while. We are hoping some people may be wanting to leave the city after this. Anyone have any advice?
Posted on 4/29/20 at 5:45 pm to buffbraz
Is it the house with the enclosed pool? Is so, it's really nice.
Posted on 4/29/20 at 5:45 pm to lshuge
Add me to the club.
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