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re: NOLA metro area home prices up 6% from March
Posted on 9/10/20 at 10:48 am to ellishughtiger
Posted on 9/10/20 at 10:48 am to ellishughtiger
We love it but I have an 11 year old boy who is an only child. I just want a larger social circle for him and I want to move somewhere he can jump on his bike and take off in the morning without me worrying.
This post was edited on 9/10/20 at 10:52 am
3
Posted on 9/10/20 at 11:08 am to eitek1
quote:
We love it but I have an 11 year old boy who is an only child. I just want a larger social circle for him and I want to move somewhere he can jump on his bike and take off in the morning without me worrying.
So where to?
Posted on 9/10/20 at 11:12 am to eitek1
That's a really nice kitchen. Your place will sell quick.
Posted on 9/10/20 at 11:20 am to danilo
quote:
We love it but I have an 11 year old boy who is an only child. I just want a larger social circle for him and I want to move somewhere he can jump on his bike and take off in the morning without me worrying.
quote:
So where to?
Probably Madisonville
Posted on 9/10/20 at 11:22 am to eitek1
Local comedian Mark Normand has some great bits about growing up in a mansion off Esplanade in Treme and how his bike would always get stolen.
This post was edited on 9/10/20 at 11:23 am
Posted on 9/10/20 at 11:25 am to eitek1
quote:
Probably Madisonville
You mean Madisonville Madisonville or the D.R. Horton-ey part?
Posted on 9/10/20 at 11:34 am to USMEagles
quote:
You mean Madisonville Madisonville or the D.R. Horton-ey part?
Honestly somewhere on the north shore that has a pool, room for a pool and will allow me to build a 30x30 shop. I’m not really picky.
Posted on 9/10/20 at 11:49 am to eitek1
Just moved from the Garden district to Covington back in May and couldn't be happier, especially with what's going on on Nola right now.
Posted on 9/10/20 at 12:11 pm to GoIrish02
quote:
Slightly more isn't going to cut it in the desirable part of Old Metairie.
Look at recent sales. 900-1.2M is getting you a nice, recently updated house with a solid square footage in 70005 off of Metairie road.
quote:
It is a stretch to say Ridgelake 1 block from N Causeway is the "MUCH better part of OM" even though it's within the boundaries.
You misread my post. Ridgelake is NOT the much better part of OM, yet some contractors are building and pricing their houses that way.
Posted on 9/10/20 at 12:20 pm to GoIrish02
quote:
I would define the desirable part of Old Metairie as barely north of Metairie Road to Metairie Country Club, with the best being on the 'good' side of the tracks, north of the playground up and around Haynes.
Yeah, I'd say south of the tracks and east of Bonnabel is where the most expensive stuff is. West of Bonnabel is pretty pricey, too, especially if it's south of Metairie Road.
Buying something on the fringes of this area and hoping for appreciation is one way to go. You might not get to rub elbows with the super-rich but it's a good life.
Posted on 9/10/20 at 12:42 pm to yaboidarrell
Appraisals are inflated across the country. Seeing it all over.
There is a bubble.
Posted on 9/10/20 at 12:53 pm to JohnnyKilroy
I think 600-800k is the worst budget to be in. Seems like plenty of people selling sub 500k homes are having no issues and people are still buying 900k plus homes. That 600-800k is sort of like no man’s land.
Posted on 9/10/20 at 1:05 pm to Paul Allen
quote:
I think 600-800k is the worst budget to be in. Seems like plenty of people selling sub 500k homes are having no issues and people are still buying 900k plus homes. That 600-800k is sort of like no man’s land.
Agree for OM. Sub 600 gets a really well sorted 3/2.5+ house in a desirable (but not the best) area. 900+ gets the well sorted, and much bigger house in an even better area.
600-800 is either overpaying for the area or something that will need a LOT of updating.
Not that I’m looking to move, but if I was my range would be in that 600-700 range. Looking at what’s available, nothing in that range seems worth the price or worth the trouble.
Posted on 9/10/20 at 1:39 pm to yaboidarrell
quote:
NOLA metro area home prices up 6% from March. Doesn't make sense.
Taking down the Confederate monuments continues to pay dividends.
Posted on 9/10/20 at 2:16 pm to fallguy_1978
they will never be above 5% again. 15yrs in the mortgage insudstry and i have learned this. in 2008 the govt proped the values up and the killed high interest rates forever. You cant build houses at $200sqft if the rates at 5-7%. No one wants to loose 50% of the vaule of there house in a correction and that would have to happen to everyon that bought since 2008. Sit back enjoy the cheap rates and the expesive house. its the new norm.
Posted on 9/10/20 at 2:22 pm to USMEagles
South of the tracks sat under deep water after Katrina.
Posted on 9/10/20 at 2:44 pm to hawkeye007
quote:
they will never be above 5% again. 15yrs in the mortgage insudstry and i have learned this. in 2008 the govt proped the values up and the killed high interest rates forever. You cant build houses at $200sqft if the rates at 5-7%. No one wants to loose 50% of the vaule of there house in a correction and that would have to happen to everyon that bought since 2008. Sit back enjoy the cheap rates and the expesive house. its the new norm.
The other things that plays into that is that circa 2008, the Fed did this "quantitative easing" thing where they just printed a bunch of money and gave it to banks to hold onto for a rainy day. That hasn't translated to inflation because it's mostly just sitting there "shoring up" the banks' balance sheets. But it does keep interest rates low since there's no shortage of money to lend.
Posted on 9/10/20 at 2:52 pm to hawkeye007
quote:
they will never be above 5% again. 15yrs in the mortgage insudstry and i have learned this. in 2008 the govt proped the values up and the killed high interest rates forever. You cant build houses at $200sqft if the rates at 5-7%. No one wants to loose 50% of the vaule of there house in a correction and that would have to happen to everyon that bought since 2008. Sit back enjoy the cheap rates and the expesive house. its the new norm.
It is worth pointing out that definitive statement like this inevitably prove false.
We were supposed to have solved market volatility in the era of great moderation, the housing market ALWAYS went up before 2008.
In the current format, you are probably right - but I feel like the last 30 years or so have taught us that we should be expecting dramatic shifts in markets due to unprecedented events about every 10 years or so.
Posted on 9/10/20 at 3:05 pm to yaboidarrell
I do not understand it but lots of New York yippies are currently saying things like "f this city, I'm moving to nola!" For some reason we're an acceptably cool destination in their brains, I don't know why. I assume this is all talk and, post-covid, they're going to end up staying where they are anyway. But who knows.
This post was edited on 9/10/20 at 5:23 pm
Posted on 9/10/20 at 3:27 pm to danilo
Danilo - if you are really interested in a condo I have 1bd/1ba in the cottonmill warehouse district that I'll be putting on the market soon. let me know if you want more details.
ksprudog78@yahoo.com
ksprudog78@yahoo.com
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