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Has the NS housing market cooled off?

Posted on 7/25/15 at 4:15 pm
Posted by N2cars
Member since Feb 2008
40415 posts
Posted on 7/25/15 at 4:15 pm
Seeing a lot more houses stay on the market...

(Mandeville/Covington/Madisonville)
Posted by GreatLakesTiger24
Member since May 2012
61640 posts
Posted on 7/25/15 at 4:17 pm to
Probably. The NS has been coming down with a bad case of the poor for a while now.

The public schools aren't what they're supposed to be and crime has to be up.
Posted by 4LSU2
Member since Dec 2009
38171 posts
Posted on 7/25/15 at 4:18 pm to
It seems to be cooling a bit. I just finished a debacle on the housing front but came out extremely well. The house I just bought listed for $135/ SF and I got it for $120/ SF after it being on the market for four months.
Posted by N2cars
Member since Feb 2008
40415 posts
Posted on 7/25/15 at 4:20 pm to
If that was new construction somebody got their feelings hurt.
Posted by 911Moto
Member since Sep 2013
5491 posts
Posted on 7/25/15 at 4:21 pm to
quote:

The public schools aren't what they're supposed to be and crime has to be up.




My kid just finished 9th grade. On the most recent standardized test, he ranked in the 98th percentile in the country - but that was only around 94th percentile in his own school. And that's in the 'dell. I think the NS school system is doing just fine.
This post was edited on 7/25/15 at 4:25 pm
Posted by 4LSU2
Member since Dec 2009
38171 posts
Posted on 7/25/15 at 4:25 pm to
I was in a terrible deal on a new construction home but the builder could not finish the house due to his own incompetence. I bailed on the contract, left him the $1,000 deposit, told him to GFH, then bought the one across the street that was 500 SF larger. It is six years old, but has all of the ancillary items completed (landscaping, window treatments, fence, gutters, etc) that the new one wasn't going to have.

They recently put the new one back on the market for $146/ SF when I had it under contract at $130/ SF. Now I get to watch the dumbassery in person from the comfort of my own home. They will never sale that one for more than $125/ SF. The market won't allow it on the appraisal at this time.
Posted by BigAppleTiger
New York City
Member since Dec 2008
11128 posts
Posted on 7/25/15 at 4:28 pm to
In some areas such as parts of Mandeville, the prices per sq ft have come down a bit- but Old Covington has seen an incredible rise in price per sq ft over the last year- and it's keeping on going.
Posted by Fat Man
Gotta Luv Cov ... ington
Member since Jan 2006
7169 posts
Posted on 7/25/15 at 4:30 pm to
Covington proper is a very hot market. There are several homes sitting on the market, but all are either very overpriced or they are functionally obsolete (and still over priced).

Posted by Dire Wolf
bawcomville
Member since Sep 2008
40827 posts
Posted on 7/25/15 at 4:30 pm to
quote:

My kid just finished 9th grade. On the most recent standardized test, he ranked in the 98th percentile in the country - but that was only around 94th percentile in his own school. And that's in the 'dell. I think the NS school system is doing just fine.


Get a fricking bumper sticker
Posted by Lou Pai
Member since Dec 2014
29646 posts
Posted on 7/25/15 at 4:34 pm to
quote:

My kid just finished 9th grade. On the most recent standardized test, he ranked in the 98th percentile in the country


I'm sorry. Well, the world needs ditchdiggers too.
Posted by Augustus1
Member since Jun 2015
50 posts
Posted on 7/25/15 at 4:34 pm to
The stagnant Mandeville real estate market is mostly from fewer people exiting New Orleans. In years past, NS property values were directly proportional to the New Orleans murder rate. But now New Orleans is booming. Orleans Parish, despite the murders, rapes, poor roads, poor schools and high cost of living is a happening place. In part it's because there is a feeling that Landrieu and government in general are doing a good job. It's also likely from increasing traffic on the Causeway and Metairie. A lot of people would rather live in the Bywater than commute from Mandeville. It's also part of a nationwide trend of decreased white flight to the suburbs. St. Tammany schools are still very good, but Orleans Parish schools have been improving.

I suspect it's a pendulum that will swing back eventually.
This post was edited on 7/25/15 at 5:08 pm
Posted by N2cars
Member since Feb 2008
40415 posts
Posted on 7/25/15 at 4:37 pm to
Glad you came out on that.

Your seller still did well at 120, he was trying to take advantage of the uptick in price.

145 is not way out of line. I've seen some go in the 140's that I thought would never get it. Others at that price tend to sit awhile, though.
Posted by 911Moto
Member since Sep 2013
5491 posts
Posted on 7/25/15 at 4:41 pm to
GFY. He made a comment degrading the public school system, and I refuted it with factual evidence.
Posted by SEClint
New Orleans, LA/Portland, OR
Member since Nov 2006
49487 posts
Posted on 7/25/15 at 4:42 pm to
quote:

My kid just finished 9th grade. 


Did you buy him a house?
Posted by Paul Allen
Montauk, NY
Member since Nov 2007
78724 posts
Posted on 7/25/15 at 4:47 pm to
Not sure about St. Tammany, but Ascension is increasing price per sq foot. Geismar area is over 145.00 in some areas.
Posted by FLBooGoTigs1
Nocatee, FL.
Member since Jan 2008
59583 posts
Posted on 7/25/15 at 4:48 pm to
quote:

get a fricking bumper sticker


I did

911 moto just a proud parent doe
Posted by SabiDojo
Open to any suggestions.
Member since Nov 2010
84835 posts
Posted on 7/25/15 at 4:52 pm to
quote:

Did you buy him a house?


Looking at 911Moto's post history and O-T Baller Status, I imagine he bought him a small island off the coast of Japan where he can perfect his Taekwondo to reach Super Saiyan.
Posted by Flashback
reading the chicken bones
Member since Apr 2008
8479 posts
Posted on 7/25/15 at 5:02 pm to
How's your boy's limited edition headband coming along?

Posted by 911Moto
Member since Sep 2013
5491 posts
Posted on 7/25/15 at 5:03 pm to
I need to hang with a higher class of people who will just nod in agreement whenever I casually mention something about my life in the course of conversation instead of a bunch of poors who lose their shite in a rage of jealousy over every aspect of my life.
This post was edited on 7/25/15 at 5:04 pm
Posted by Tingle
1173 Tallow Tree Lane
Member since Sep 2013
4558 posts
Posted on 7/25/15 at 5:05 pm to
quote:

Geismer is over 145.00 in some areas
Same can be said of the 7th Ward in Nola.
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