Lisa's New Orleans West Bank Blog

Westwego, Avondale and Bridge City LA homes for sale
New Orleans West Bank homes for sale

If you are considering buying or selling a home on the West Bank of New Orleans, please contact the West Bank Living Team. We have specialists in home sales/marketing and buyer representation ready to assist you with any of your real estate needs.

A Different Twist on Thanksgiving

Wed, 25 Nov 2009 10:36:54 -0600

Thanksgiving. That time of year when everyone stops to remember what they are thankful for.

We have our little canned speeches where we recite our good fortune in life and count our blessings of health, happiness and family. You want to know what I’m thankful for?

I’m thankful for…

Facebook, for creating a time sucking vacuum that allows me to pretend that I’m networking while virtually poking that guy I barely remember from high school that somehow made it onto my friends list.

Take out food, because I don’t cook.

Flip cameras, for allowing me to record every single embarrassing moment in my children’s lives, giving them someting to complain to their therapist about when they grow up.

Pizza delivery, because I don’t cook.

Internet shopping, so I don’t have to get up at 4 am to join the legions on Black Friday who are trampling each other for a $20 toy.

Frozen entrees, because I don’t cook.

My iPhone, because I truly don’t know how people function without an app for that.

Kids who eat cereal for dinner, because I don’t cook.

Swiffer cloths, because without them I would have killed that stupid, shedding cat by now.

Grocery store prepared food, because I don’t cook.

Back up cameras on cars, so I can see what I’m going to hit, in living color, before I hit it.

Blue Runner red beans in a can, because I don't cook.

Community New Orleans Blend coffee and chicory, because non-fat lattes are for sissies.

People with a sense of humor and x-ray vision, who can see my tongue firmly planted in my cheek ;)

And just so you know, I’m truly thankful for…

My family, because they are everything to me.

A roof over my head, because so many are struggling to keep theirs.

Food on the table, because too many will go hungry tonight.

Good friends, because there are people who have no one to rely on in a time of need.

My career, because so many are out of work.

Our nation’s soldiers and protectors, because most of us wouldn’t dream of making the daily sacrifices that they make.

Happy Thanksgiving to you and yours….

Westwego, Avondale and Bridge City LA 70094 | Home Sales and Real Estate Market Trends for October 2009

Tue, 24 Nov 2009 20:50:53 -0600

Current real estate activity in Westwego, Avondale and Bridge City LA:

139 homes are for sale

High list price $339,000
Low list price $37,900
Average list price $134,279
Median list price $119,200

33 homes are under contract or pending sale, priced from $20,000 to $187,900

Based on the number of homes sold in October (13), there is a 10.7 month supply of homes for sale in the 70094 zip code (still a buyer’s market)

Westwego, Avondale and Bridge City LA 70094 | Number of Homes Sold | October 2009

Despite a slight dip in August, the number of homes sold in Westwego, Avondale and Bridge City has remained steady from month to month in 2009, with an average of 11.7 homes sold per month and 117 homes sold year to date. This is a decrease of 18% from the number of sales at the same time last year and a continuation of the year over year drop in sales from 2006 forward.

Given that homes in the 70094 are some of the most affordable on the West Bank, it will be interesting to see if the extension and expansion of the home buyer tax credit has an impact of sales through the end of the year.

Westwego, Avondale and Bridge City LA 70094 | Average Home Sale Price | October 2009

Unlike the number of sales, average prices in the 70094 zip code have jumped around from month to month, ending October at $88,615. The year to date average home sale price of $95,462 is a decrease of less than 2% from the 2008 average and less than $5,000 below the 2005 average price.

Like most of the New Orleans West Bank, if you purchased your Westwego home before 2005 you should still have built some equity. Each neighborhood is different, though, so find out what's going on in your West Bank neighborhood with this week's free market snapshot.

All data provided by GSREIN and is deemed reliable, but not guaranteed.

Related Information:

Home buying tips
Home selling tips

Are you considering buying or selling a home? Please contact the West Bank Living Team. It would be our pleasure to assist you with any of your New Orleans West Bank real estate needs.

Marrero LA 70072 | Home Sales and Real Estate Trends for October 2009

Tue, 24 Nov 2009 10:28:00 -0600

Current real estate activity in Marrero LA:

251 homes for sale in Marrero

High list price $2,500,000
Low list price $29,900
Average list price $185,954
Median list price $149,000

46 homes are under contract or pending sale, priced from $16,900 to $306,750

Based on the number of homes sold in October (34), there is a 7.38 month supply of homes for sale in the area

Marrero LA 70072 | Number of Homes Sold | October 2009

The number of homes sold in Marrero in October was 34, with a total 300 sold year to date. This is a decrease of 7.4% from the number of sales recorded at this same time last year.

The good news is that sales from month to month are holding steady at an average of 30 homes per month, so while the number of sales is down from years past, there does not seem to be a great deal of volatility in the market.

Each neighborhood is performing differently, so find out what's going on in your West Bank neighborhood with this week's free market snapshot.

Marrero LA 70072 | Average Home Sale Price | October 2009

Home prices in Marrero have been up and down this year, with an average of $139,935, a decrease of over 10% from the 2008 average.

The bad news is that prices have continued to drop.

The good news is that unless you purchased your home in 2006-2008, you more than likely are at least at a break even point. More and more, we are hearing from sellers who purchased at the peak that want to sell their homes. Unfortunately, many of them owe more than they can get in today’s market.

If this is your situation, our advice is to stay put. Real estate is cyclical and while we may be on a downswing right now, there is sure to be an upswing in the future.

All information is provided by GSREIN and is deemed reliable, but not guaranteed.

You may also be interested in:

Marrero LA Homes for Sale
New Orleans West Bank Homes for Sale

Update to 2009 First Time Home Buyer Tax Credit

For more information about buying or selling a home on the West Bank of New Orleans, please contact the West Bank Living Team. It would be our pleasure to assist you with any of your real estate needs.

Harvey LA 70058 | Home Sales and Real Estate Trends for October 2009

Tue, 24 Nov 2009 08:35:21 -0600

Current real estate activity in Harvey LA:

164 homes for sale

High list price $549,000
Low list price $500
Average list price $182,181
Median list price $154,950

58 homes are under contract or pending sale, priced from $49,700 to $525,000

Based on the number of homes sold in October (35), there is a 4.69 month supply of homes for sale in the area.

Harvey LA 70058 | Number of Homes Sold | October 2009

Look at the jump in closed sales for Harvey! While I don’t know the details on every single transaction, I would project that the large increase was due to the expected expiration on November 30th of the tax credit for first time home buyers that has been extended and expanded.

Should sales continue at the same pace (which is possible given the 58 pending sales), Harvey would be the shining star of West Bank real estate and the only seller’s market in the area, despite the fact that the number of sales is down almost 17% from the same time last year.

Harvey LA 70058 | Average Home Sale Price | October 2009

The average home sale price in Harvey for October was $158,129, bringing the year to date average to $163,373, UP 5.9% from the 2008 average and the only increase in home values that we are seeing on the West Bank of New Orleans.

While this is good news, it’s important to remember that if you purchased your home during 2005-2007 you may only be at a break even point or experiencing a loss of equity. Before deciding to sell, it’s important to know what’s going on in your neighborhood. Get this week's free Harvey LA market snapshot

All data is provided by GSREIN and is deemed reliable, but not guaranteed

Harvey LA Real Estate Market Reports

If you have questions about the Harvey LA real estate market or need information about buying or selling a home, please contact the West Bank Living Team. It would be our pleasure to assist you with any of your real estate needs.

Home Ownership | Are You Ready?

Mon, 23 Nov 2009 22:25:12 -0600

Owning your own home is what we have all been told is the American Dream. It brings to mind a picture of a neatly manicured lawn, flower beds in bloom and a white picket fence.

But what many first time home buyers forget is that you will no longer have a landlord to call when something breaks or needs to be repainted. In addition to paying your mortgage each month, there are other costs that you need to budget for when deciding how much you want to spend on a home.

What do home buyers need to budget for?

Utility costs are an often overlooked item that can catch a new home owner unawares. It’s more expensive to heat and cool an entire home than it is for an apartment and you may not be used to budgeting for additional utilities such as cable and water.

Repairs are inevitable when you are a home owner. Whether it’s the dishwasher that decides not to wash, the toilet that won’t flush or the roof that starts to leak, at some point you are going to have to make repairs to your home, even if you buy a brand new one. Having a nest egg for repairs is always a good idea and can keep an unexpected breakdown from wreaking havoc with your monthly budget.

That picture perfect front yard doesn’t happen on it’s own. Whether you cut the grass yourself or hire a service to do it, lawn maintenance is a must in New Orleans, especially during the summer months when cutting grass weekly is a given because it grows so quickly. You’ll need to budget for either a lawn service (have I mentioned lately how much I love my lawn guy?) or for the purchase of a lawn mower, edger or weed eater and gas and oil for the equipment. If you decide to garden, there are the expenses of flowers, fertilizer, mulch and gardening tools that can quickly add up to a big dent in the wallet.

Mechanical maintenance is another necessity. Having your air conditioner and heater cleaned and serviced at least once a year (twice is preferable) may not be high on your list of things to spend money on, but can keep them in good working order and prevent breakdowns just when you need them the most. Being forced to call for A/C service in the middle of a hot summer afternoon means that you may spend more than you need to in order to keep your cool.

Almost without fail, new home owners want to make some improvements to their house. Whether it’s something small like a new paint color or front door or something major like a kitchen or bathroom overhaul, home improvements can be expensive. Besides creating a budget before starting a project, remember to check with your city or parish for any permits needed before starting work on your house.

Do you have questions about buying a home on the West Bank of New Orleans? Contact the West Bank Living Team for answers. It would be our pleasure to guide you through the entire home buying process and make it the fun experience it should be.

Search New Orleans West Bank Homes for Sale

Read more home buying tips

Terrytown and Gretna LA 70056 | Home Sales and Real Estate Trends for October 2009

Mon, 23 Nov 2009 09:55:11 -0600

Current real estate activity in Terrytown and Gretna LA:

170 homes for sale

High list price $999,000
Low list price $24,900
Average list price $217,709
Median list price $169,700

48 homes are under contract or pending sale, priced from $35,900 to $400,000

Based on the number of homes sold in October (26), there is a 6.5 month supply of homes for sale in the area (a fairly balanced real estate market)

Terrytown and Gretna LA 70056 | Number of Homes Sold | October 2009

October marked the most active month of the year in Terrytown and Gretna home sales. I’m sure that much of this increase was due to the uncertainty about whether or not the first time home buyer’s tax credit would be extended (which it has). First Time Home Buyer Tax Credit Extended and Expanded

Year to date, there have been 180 homes sold in the 70056 zip code, compared to 190 at the same time last year. It seems that while the number of sales has been dropping for the last couple of years, we are finally beginning to see some stabilization in the market.

Terrytown and Gretna LA 70056 | Average Home Sale Price | October 2009

The 2009 average home sale price at the end of October was $158,775, a decrease of 6% from the 2008 average, but slightly above the 2005 average. Since 2005 was the last market that was not impacted by either Katrina or the economy, it’s a good barometer for “normal” and normal has been hard to find lately.

Unless you purchased your home in the last couple of years, it’s a good bet that you have not lost any of the equity in your home. Find out what's going on in your West Bank neighborhood with this week's free market snapshot.

All information is provided by GSREIN and is deemed reliable, but not guaranteed

You might also be interested in:
Terrytown and Gretna homes for sale
New Orleans West Bank Homes for Sale

Gretna LA homes for Sale
New Orleans West Bank Homes for Sale

The West Bank Living Team would be more than happy to assist you with any of your real estate needs. Feel free to call us or drop us a line with any of your questions or concerns.

Gretna LA 70053 | Home Sales and Real Estate Trends for October 2009

Sat, 21 Nov 2009 16:16:41 -0600

Current real estate activity in Gretna LA 70053:

51 homes are for sale

High list price $275,500
Low list price $42,900
Average list price $147,731
Median list price $131,000

12 homes are under contract or pending sale, priced from $52,000 to $240,000

Based on the number of homes sold in October (8), there is a 6.38 month supply of homes for sale in Gretna, which is just about a balanced real estate market.

Gretna LA 70053 | Number of Homes Sold | October 2009

The year to date number of homes sold in Gretna as of October 2009 is 62, compared to 65 at the same time last year. Gretna is one of the only markets on the West Bank of New Orleans that has not had a dramatic drop in the number of home sales from 2008 to 2009.

Given the recent amount of activity in the community, I would anticipate that we will equal or exceed the number of homes sold in 2008. While it is not a return to pre-Katrina levels, it appears that the market is balancing out supply and demand.

Gretna LA 70053 | Average Home Sale Prices | October 2009

The average price of homes sold in the City of Gretna in 2009 is now at $137,680, compared to $145,701 in 2008 (a decrease of 5.5%). Again, this is a better performance than many other areas of the West Bank, where some neighborhoods have experienced value drops of more than 20%.

All data provided by GSREIN and is deemed reliable, but not guaranteed.

You may also be interested in:

Belle Chasse homes for sale
New Orleans West Bank Homes for Sale

Have a real estate question? The West Bank Living Team has answers. Feel free to drop us a line or give us a call or visit West Bank Living.

Belle Chasse LA 70037 | Home Sales and Real Estate Trends for October 2009

Sat, 21 Nov 2009 14:55:01 -0600

Current real estate activity in Belle Chasse LA:

49 homes for sale

High list price $900,000
Low list price $78,800
Average list price $348,235
Median list price $320,000

9 homes are under contract or pending sale, priced from $59,900 to $1,300,000 Based on the number of homes sold in October (6), there is a 8.17 month supply of homes for sale

Belle Chasse LA | Number of Homes Sold | October 2009

Home sales in Belle Chasse continue to hold steady, with 6 homes sold in October. This brings the year to date total number of single family homes sold to 56, compared to 66 at the same time in 2009. With 9 homes currently under contract, it looks like we will end the year with about 10% fewer sales than last year. Financing choices continue to be spread out, with 2 FHA sales, 2 conventional sales and 2 cash sales recorded in October.

Interestingly, VA loans have been used in only 17.8% of Belle Chasse home sales this year, despite the fact that NAS JRB New Orleans is located in the area. More than likely, it is because the majority of incoming military families are looking for housing that is a little more affordable than that offered in the Belle Chasse community.

Belle Chasse LA | Average Home Sale Prices | October 2009

While there was a spike in the average sale price in October due to a $975,000 sale, the year to date average of $273,742 is down 17.45% from 2009. The good news is that the year to date average is well above that of 2005, so unless you purchased your Belle Chasse home in 2006-2008, the odds are good that you have increased your equity in your home.

Of course, all neighborhoods are performing differently, so if you would like a report of recent sales and listings in yours, sign up for your free Market Snapshot.

All information is provided by GSREIN and is deemed reliable, but not guaranteed

You may also be interested in:

Algiers LA homes for sale
New Orleans West Bank Homes for Sale

The West Bank Living Team provides professional buyer and seller representation on the West Bank of New Orleans. Please feel free to call or email us with any of your real estate questions or visit West Bank Living.

New Orleans Gardening Tips | Winter Gardens and Flowers

Sat, 07 Nov 2009 16:51:57 -0600

Living in a sub-tropical climate is a definite plus if you love to spend a lot of time in your garden or yard. Despite the fact that it is November, there are still blooming flowers throughout my West Bank garden.

However, the periwinkles are starting to get leggy, the coneflowers are gone and the basil has started to flower and is done for the year. Before the holiday madness starts, I need to find time to get outside in the gorgeous weather we’ve been having and start the winter garden.

I stopped in to visit my favorite Algiers nursery this week – New Orleans Garden Center and Landscape on Huntlee Drive, just off of General Meyer. The fall and winter plants have arrived and wherever you decide to buy them (although I hope it’s from someone local) there is a profusion of color that can quickly take your garden from the end of summer blahs to the winter aaaaahhhhhs.

What I’m Planting This Winter

Pansies are probably the most traditional of the winter flowers, although we have to be careful not to plant them too early in New Orleans. They will survive the coldest of winters with ease, but our climate can be a little more challenging for them. The lovely ladies at the garden center shared this tip with me: if you want show stopping pansies, they love blood meal as a soil additive.

Most people think of petunias as a spring time flower, but in the south they are a perfect addition to your garden after the long hot days of summer have ended. Cool days and nights allow them to flourish and they can provide blankets of color for the next few months that will make all of the neighbors jealous :)

Snapdragons are one of my favorite winter flowers. A few years ago, I replanted my entire front garden in white – white petunias, white snapdragons and white pansies. I threw in a few sparkly Christmas lights and voila! A winter paradise, right in my own front yard.

I plan to finish off my winter garden with ornamental cabbage. The colors range from almost white to deep green to purple and the texture they bring to the space is fantastic.

Some other winter gardening tips from New Orleans Garden Center and Landscape

Roses need to be pruned in January, but how much depends on the type of rose. If you are a novice rose grower (like me), check with a professional before you start chopping off branches!
It’s time to winterize your lawn whether you have St. Augustine sod, centipede grass or even if you’ve seeded with winter rye
Mulch is just as important in the winter as in the summer and can help protect the roots of your plants during those rare freezes on the south shore
Once you’ve watered your plants in well, there is no need to water as much as in the summer. Of course, common sense rules and if they are looking a little droopy, give them a drink!

Hopefully, I can get all of this work done before the Thanksgiving holiday, because after that it will be time for a return visit to pick up poinsettias in every color for Christmas. Whew…I better get to work. Happy gardening!

New Orleans Garden Center and Landscape is located at 210 Huntlee Drive in Algiers. Call (504) 366-2017 for winter operating hours or more information and tell Blair HELLO for us!

Painting With A Twist | Yes, You CAN Paint!

Thu, 05 Nov 2009 07:26:05 -0600

I’m not talking about painting your house. I’m talking about one of the newest hot spots for West Bank ladies (and a few gentlemen too) to get together for a few hours and share food, drinks and definitely a few laughs.

Painting With A Twist recently opened in Gretna LA, just a couple of blocks off the West Bank Expressway. One of my friends decided that painting and drinking would be a fun way to spend an evening, so we rounded up a group and headed over there last night.

We all arrived toting trays of goodies to share, bottles of wine and even a few daiquiris. I figured the drinking was so that we wouldn’t cry if we hated our pictures. The entire premise is that anyone can be at least a novice artist. Bring your own snacks, drinks and $35 and Painting With a Twist provides the bottle openers, the cups, the space, the canvas, the paints, the brushes and the most patient instructors you’ll ever meet.

Each night of the week, there are open classes that anyone can attend. 2 hours classes are $35 and 3 hour classes are $45. Walk ins are welcome, but it’s preferred that you either call ahead or sign up online, since there are a minimum of 4 people to hold a class. A different picture is featured each night (see the schedule on their website) for the open classes or you can book a private party for 15 or more people and choose your own painting from a large gallery selection.

If you have company coming to visit over the holidays, wouldn’t this be a fantastic way to get out of the house and spend an evening as a group or a family?

Step by step, we were led through the process of turning a blank canvas into our own little piece of art. Rule number one from our fabulous teacher, Jason, was….relax! It’s supposed to be fun, not stressful and a room full of type A, perfectionist personalities promptly did just that. Music played in the background as we made those first hesitant strokes onto the canvas. I don’t know why we were worried to begin with. If we ran into a little trouble, Jason and another of the resident artists were on hand to help us out, encouraging us to put our own interpretation on the guide pictures we were trying to recreate and giving us how-to tips to fix our little mistakes along the way.

Now, I’m not creative or the least bit artistic by any stretch of the imagination. I can’t even draw a straight line, much less paint a picture, but I’m pretty proud of my first attempt and figure it’s at least a step up from what my mom used to hang on the refrigerator.

Painting With A Twist is located at 1900 Lafayette Street, in the Village Shopping Center in Gretna LA. Visit them on the web at www.paintingwithatwist.com or call (504) 361-0574.

102 Kingston Court New Orleans LA | Algiers Home for Sale or Rent

Mon, 02 Nov 2009 15:36:24 -0600

Who needs an apartment when you can rent a single family home on the West Bank for only $1,000 per month? With 3 bedrooms, 1 bath, an updated kitchen and a modern bath, 102 Kingston Court is a perfect leasing alternative.

Only 3 miles from the Crescent City Connection, 6 miles to downtown New Orleans, and minutes away from both the Naval Support Activity in Algiers and NAS JRB New Orleans in Belle Chasse.

Long term lease available and the owner will consider a lease/purchase option for qualified buyers since this home is also for sale for only $125,000.

If you can’t see the video above, click here.

For more information about this or other properties for lease or for sale on the West Bank of New Orleans, please contact the West Bank Living Team. It would be our pleasure to assist you!

Marrero LA Home for Sale in Brentwood Subdivision | 1240 Artesa Drive Marrero LA 70072

Mon, 02 Nov 2009 14:44:01 -0600

Tucked away in the Brentwood subdivision just off of the West Bank Expressway in Marrero, Louisiana, this beautiful home is now on the market.

Offered at $250,000

Constructed in 2006, the Westchester model floor plan was designed with entertaining in mind. Dinner parties? They’ll fit right into the formal dining room. Family get-togethers? The spacious den will accommodate a crowd. Movie night? The upstairs loft makes a terrific media or game room. And so much more….

4 bedrooms
2 1/2 baths
2,949 square feet living area (approximate)
Soaring, 2 story entry foyer
Open kitchen with island and attached breakfast area
Formal living/dining combination
Large den with wood burning fireplace
Oversized master suite
Roomy master bath with garden tub, separate shower and walk in closet

Can’t see the video above? Click here.

Maintenance is a breeze with the brick exterior and all of the major mechanicals are only 3 years old. Why wait to build when you can move right in to this lovely Marrero home?

To schedule your private showing or for more information about 1240 Artesa Drive, contact the West Bank Living Team. It would be our pleasure to assist you.

English Turn | Home Sales and Real Estate Market Trends for September 2009

Thu, 29 Oct 2009 09:53:09 -0500

Current real estate activity in English Turn:

42 homes are for sale in English Turn

High list price $1,995,000
Low list price $395,000
Average list price $688,392
Median list price $557,383

3 homes are under contract or pending sale, with an average list price of $474,667

Based on the number of homes sold in September (1), there is a 42 month supply of homes for sale in the community

English Turn | Number of Homes Sold | September 2009

Year to date, there have been 18 home sales in English Turn, compared to 21 at the same time last year.

3 of this years sales have been foreclosure or bank owned properties, which are selling for about $110 per square foot compared to $132 per square foot for normal resale homes in English Turn.

English Turn | Average Home Sale Prices | September 2009

Average home sale prices in English Turn are down to $507,378 as of the end of September 2009. This is a decrease of 14% in the average sale price when compared to 2008.

My initial thought was that with so few sales, the handful of foreclosures were impacting the average prices. But removing those from the mix resulted in an average of $507,607 – a negligible change not even worth noting.

All data is provided by GSREIN and is deemed reliable, but not guaranteed

Related information:

Home Selling Tips
Home Buying Tips

Are you considering buying or selling a home in English Turn? Feel free to contact the West Bank Living Team with any of your questions or just for a little advice. It would be our pleasure to assist you with any of your real estate needs.

Algiers LA 70131 | Home Sales and Real Estate Market Trends for September 2009

Thu, 29 Oct 2009 08:39:43 -0500

Current real estate activity in Algiers LA 70131 (excluding English Turn):

198 homes are for sale

High list price $895,000
Low list price $35,000
Average list price $188,261
Median list price $154,950

39 homes are under contract or pending sale, with an average list price of $144,823

Based on the number of homes sold in September (25), there is a 7.92 month supply of homes for sale in the area

Algiers LA 70131 | Number of Homes Sold | September 2009

September saw the highest number of home sales in Algiers for all of 2009 AND the most homes sold since April 2008. While we are still running behind this same time last year (160 this year compared to 175 in September 2008), it does appear that the market is flattening instead of continuing the steep drops that Algiers has experienced for the last couple of years.

BUT (there’s always a but), remember that for a period of time this summer Algiers was included in the City of New Orleans soft second mortgage program for homes that suffered more than $5,200 in repaired hurricane damage. When that money ran out, showing activity softened and slowed. The majority of those allocations have now been closed, so we’ll have to keep an eye on the trends to see what impact that has on the sales numbers going forward.

Algiers LA 70131 | Average Home Sale Price | September 2009

In another bit of good news, the average home sale price in Algiers is less than $1,000 lower than the 2008 average and is almost on par with 2005 (our last normal market). The expiration of the $8,000 tax credit for first time home buyers at the end of November may impact this as well, unless the credit is extended.

The choice of financing can tell you a lot about who is purchasing in a community. FHA continues to be the choice of the majority of home buyers due to the low down payment requirements and the ability to have home sellers provide some assistance with closing costs.

So far in 2009, 53% of FHA buyers in Algiers have received closing cost assistance from sellers. The amounts ranged from a low of $2,000 to a high of $11,500. The average amount of closing cost assistance provided to FHA buyers in 2009 is $5,581 or 3.71% of the purchase price.

All data provided by GSREIN and is deemed reliable, but not guaranteed

Related information:

Algiers LA homes for sale

Home buying tips
Home selling tips

If you are considering buying or selling a home in Algiers and have a question or just need a little advice, please contact the West Bank Living Team. It would be our pleasure to assist you with any of your real estate needs.

Algiers Point | Home Sales and Real Estate Market Trends for September 2009

Wed, 28 Oct 2009 22:38:52 -0500

Current real estate activity for Algiers Point:

30 homes are for sale in Algiers Point

High list price $550,000
Low list price $123,500
Average list price $276,403
Median list price $278,500

3 homes are under contract or pending sale, with an average listing price of $229,300

Based on the number of homes sold in September (2), there is a 15 month supply of homes for sale in the area

Algiers Point | Number of Single Family Home Sales | September 2009

Algiers Point has had only 13 successful single family home sales this year, compared to 28 at the same time last year - a decrease of 54% in the number of closed sales. This marks the largest decrease of any of the West Bank communities that we track.

What about financing?

The buzz this year has been all about the first time home buyer’s tax credit. Most of these first time buyers are using FHA financing to purchase their homes. Given the percentage of conventional and cash deals in the Point, there appear to be very few first time buyers moving into the area.

Algiers Point | Average Single Family Home Prices | September 2009

While there was a jump in the September average (due to one high end home selling), the year to date average home sale in Algiers Point is $225,431, up slightly from the 2008 average.

While the prices may be holding their own, the number of sales (see above) is down dramatically and apparently sellers are not getting the message. The majority of homes on the market in the Point are priced above $250,000 - the homes selling are generally not. As we move towards the end of the year, it may be time to review your pricing strategy to see if it still makes sense in today’s market.

All data is provided by GSREIN and is deemed reliable, but not guaranteed

Read more:

Algiers LA homes for sale

Algiers LA homes for sale

Questions about the Algiers Point real estate market? Feel free to contact the West Bank Living Team. It would be our pleasure to assist you with any of your New Orleans area real estate needs.

Algiers LA 70114 | Real Estate and Home Sales for September 2009

Wed, 28 Oct 2009 11:05:44 -0500

Current real estate activity in Algiers LA 70114:

104 homes are for sale

High list price $550,000
Low list price $22,500
Average list price $162,589
Median list price $139,450

13 homes are pending sale or under contract, with an average list price of $134,992

Based on the number of homes sold in September (7), there is a 14.85 month supply of homes for sale in the area

Algiers LA 70114 | Number of Homes Sold | September 2009

Year to date, there have been 58 successful single family home sales in the 70114 zip code of Algiers, compared to 89 at the same time last year. This decrease of 35% is one of the largest on the West Bank, making Algiers the hardest hit areas for declining home sales. While reduced sales in Algiers Point have had an impact, the condition of properties being sold is also an issue, with a substantial number of homes in Poor, Fair and Average condition being marketed.

A large percentage of the 2009 sales in the area have been to cash buyers, and a review of those sales indicates that a large number of them are to investors and buyers who are willing to take on a fixer-upper. It remains to be seen if these properties will come back on the market as renovations or if they are being held as rental units and personal residences.

Algiers LA 70114 | Average Home Sale Price | September 2009

Prices have taken a hit as well – they are down 14% from 2008. Although much of this can be attributed to fewer sales in Algiers Point, which typically has the highest priced real estate in the zip code, the large percentage of homes in need of repair is pushing prices downward as well. If you are considering selling your Algiers home, be sure that your agent is pricing it to compete with other homes in the same condition rather than just using the average sale price.

All data provided by GSREIN and is deemed reliable, but not guaranteed

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Algiers Point real estate market updates

Have a question about buying or selling a home on the West Bank? Contact the West Bank Living Team. It would be our pleasure to assist you with any of your real estate needs.

Westwego, Avondale and Bridge City LA 70094 | Home Sales and Real Estate Market Trends for September 2009

Thu, 22 Oct 2009 17:07:31 -0500

Current real estate activity in the 70094 zip code:

129 homes for sale

High list price $369,000
Low list price $35,000
Average list price $133,781
Median list price $118,000

39 homes are under contract or pending sale, with an average list price of $103,667

Based on the number of homes sold in September (12), there is a 10.75 month supply of homes for sale in the community

Westwego Avondale Bridge City | Number of Homes Sold | September 2009

Westwego, Avondale and Bridge City ended September with a total of 104 homes sold in 2009, compared to 130 at the same time last year (a 20% decrease in the number of sales). In my opinion, part of the reduction in sales can be attributed to the condition of properties in the area.

Almost 50% of the sales were of homes that were in Poor, Fair or Average condition and were more likely to appeal to an investor or a do-it-yourselfer looking for a home they could put a little sweat equity into. Typically, these homes may not qualify for FHA financing unless the purchaser is willing to use an FHA 203(k) and pay a higher rate to be able to finance repairs into their mortgage.

Westwego Avondale Bridge City | Average Home Sale Prices | September 2009

Values in the 70094 zip code are holding steady, with a less than $1,000 difference between the 2008 and 2009 average sale prices. As more homes are rehabbed, I would anticipate a slow increase in values due to improved conditions of the properties themselves.

FHA remains the financing option of choice for the majority of home buyers in Westwego, Avondale and Bridge City. However, the large number of cash purchases indicates a fairly high level of investor activity in the community as well. Since this has always been one of the most reasonably priced real estate markets on the West Bank, it’s not surprising to find that people are snapping up the lower price range in an attempt to either rehab and rent or flip the properties.

Year to date, there have been 43 sales of homes for less than $75,000 in the area, making up 41% of all sales.

All data is provided by GSREIN and is deemed reliable, but not guaranteed

Find out what's going on in your West Bank neighborhood with this week's free market snapshot.

Do you have questions about the West Bank real estate market? Feel free to contact the West Bank Living Team. It would be our pleasure to assist you with any of your real estate needs.

Marrero LA 70072 | Home Sales and Real Estate Market Trends for September 2009

Wed, 21 Oct 2009 09:51:02 -0500

Current real estate activity in Marrero LA 70072:

254 homes are for sale in Marrero

High list price $2,500,000
Low list price $24,900
Average list price $186,682
Median list price $149,900

56 homes are under contract or pending sale, with an average list price of $136,680

Based on the number of homes sold in September (24), there is a 10.6 month supply of homes for sale

Marrero LA 70072 | Number of Homes Sold | September 2009

Year to date, there have been 266 homes sold in Marrero, compared to 286 at the same time in 2008. This 7% decrease in the number of home sales is typical of the current West Bank real estate market, which has seen sales slide across the area since the high point of 2006.

FHA remains the financing option chosen by the majority of home buyers in Marrero. Why is this important? Because 62% of the FHA buyers in September also required an average of $5,557 in assistance from the seller with their closing costs and prepaids (insurance, lender fees, etc.). When selling your home, you need to know what concessions other sellers are making in order to successfully sell their properties.

Marrero LA 70072 | Average Home Sale Price | September 2009

Average sale prices in Marrero are down 9.5% from the 2008 average, but are running just a hair above the 2005 average. Unless you purchased your home post-Katrina, you more than likely have built at least a little equity in it. Of course, this varies from neighborhood to neighborhood, with some performing better than others. Find out what's going on in your neighborhood with this week’s free market snapshot

All data is provided by GSREIN and is deemed reliable, but not guaranteed

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Do you have questions about the Marrero real estate market? Contact the West Bank Living Team today for professional real estate services and advice. It would be our pleasure to assist you.

Harvey LA 70058 | Home Sales and Real Estate Trends for September 2009

Tue, 20 Oct 2009 10:24:53 -0500

Current real estate activity in Harvey LA 70058:

157 homes for sale

High list price $585,000
Low list price $20,000
Average list price $180,021
Median list price $155,000

70 homes are under contract or pending sale, with an average list price of $152,624

Based on the number of homes sold in September (16), there is a 9.8 month supply of homes for sale in the area.

Harvey LA 70058 | Number of Homes Sold | September 2009

Harvey has seen 147 homes sold through September 2009, compared to 200 at the same time last year (a decrease of 26.5%). Like most other areas, the majority of Harvey home buyers are using FHA financing. These loans require the lowest down payment possible (3.5%) and appeal to the first time home buyers who are trying to get closed before the tax credit expires at the end of November.

Of note is the fact that 44% of the September buyers received an average of $2,756 in assistance from the seller with their closing costs and prepaids. If you are considering selling your Harvey home, be sure that the agents you talk to can provide you with adjusted sales prices to take any of this assistance into account when determining an acceptable sales price.

Harvey LA 70058 | Average Home Sale Price | September 2009

While the average sale price dropped from August to September, the year to date average is still almost 7% higher than in 2008 – a rare occurrence of increasing prices in today’s market! Remember, though, that this average does not take into account any seller paid assistance or allowances provided to the buyers at closing and your agent should be able to provide details such as this for sales in your neighborhood.

All data provided by GSREIN and is deemed reliable, but not guaranteed

Find out what's going on in your West Bank neighborhood with this week's free market snapshot

Questions? Feel free to contact the West Bank Living Team for any of your real estate needs. It would be our pleasure to assist you.

Terrytown and Gretna LA 70056 | Home Sales and Real Estate Market Trends September 2009

Mon, 19 Oct 2009 21:07:50 -0500

Current real estate activity in Terrytown and Gretna LA 70056:

167 homes are for sale

High list price $1,390,000
Low list price $16,900
Average list price $209,418
Median list price $165,000

67 homes are under contract or pending sale, with an average list price of $172,469

Based on the number of homes sold in September (15), there is an 11.13 month supply of homes for sale

Terrytown and Gretna LA | Number of Homes Sold | September 2009

Although they are down about 9% from this time last year, the number of home sales in Terrytown and Gretna is holding fairly steady from month to month.

While the media focus has been on the first time home buyer tax credit and FHA loans, amazingly enough there were no FHA loans that closed in Terrytown in September.

Type of Financing Used	Number of homes sold
Conventional loans	6
Cash	7
VA loans	2

Terrytown and Gretna LA | Average Home Sale Price | September 2009

The bad news is that average home sale prices are down 5% from last year – and that’s really not so bad when compared to some of the other West Bank neighborhoods that have been hit hard.

The good news is that unless you purchased your home in 2006-2008, you more than likely have built equity in it, just not at the same rate we saw in the early 2000s.

Homes that are priced right and in excellent condition continue to attract the most attention and sell faster than homes that need a little TLC.

Terrytown and Gretna LA homes for sale

All data provided by GSREIN and is deemed reliable, but not guaranteed

Find out what's going on in your West Bank neighborhood with this week's free market snapshot.

Questions? Contact the West Bank Living Team. It would be our pleasure to assist you with any of your real estate needs.

Gretna LA 70053 | Home Sales and Real Estate Trends for September 2009

Mon, 19 Oct 2009 08:45:50 -0500

Current real estate activity in Gretna LA 70053:

53 homes for sale

High list price $287,100
Low list price $24,900
Average list price $148,388
Median list price $135,000

15 homes are under contract or pending sale, with an average list price of $142,841

Based on the number of homes sold in September 2009 (9), there is a 5.9 month supply of homes for sale in Gretna (a balanced real estate market).

Gretna LA 70053 | Number of Homes Sold | September 2009

Year to date, Gretna has seen 54 successful home sales, compared to 59 at the same time last year. Not bad, when the majority of the West Bank has seen the number of sales drop substantially from 2008 to 2009.

The average Gretna home sold in September had 3 bedrooms, 2 baths, 1373 square feet of living area and was on the market for 46 days. Homes priced right and in the best possible condition can still sell quickly!

The best news for Gretna is that the supply and demand of homes is in balance at this time. That could change quickly if a large number of homes come on the market for sale, but for now it’s one of the most stable markets on the West Bank of New Orleans.

Gretna LA 70053 | Average Home Sale Prices | September 2009

While the number of Gretna homes sold is holding fairly steady, the average sale price has dropped by 7% from 2008. This is still not nearly as dramatic of a decrease as some other communities on the West Bank have experienced. The first time home buyer tax credit is about to expire, so it will be interesting to see if the average prices increase or decrease when that option is no longer available.