These colder and damper months are the exact time when the real estate market is hot, especially for buyers. Since fewer people are willing to take time away from their holiday routines to look for a home there will be less competition for any home or investment property you are looking to buy.

Of course, if you are going to buy a new home near the holidays, you'll need plenty of advice and guidance to help you negotiate the best price on a home with all the features you need. But in addition to finding a home with an affordable mortgage, you'll want a solid construction, and you'll want to work with a real estate agent with a solid reputation. So, if you're ready to give up writing that high rent check every month, then give me, Rose Clouse, a call today.

My team and I are highly experienced real estate professionals with a strong commitment to the New Orleans and surrounding real estate markets. Our experience and connections in the real estate world gives us a true edge in helping our clients snag just the right home.

If you think about it, as one year gets ready to end and another to begin it's a perfect time to make a new start. A new home just might be the perfect way to begin.

Rose Clouse
Realty Executives, SELA
Realtor/Associate Broker
RoseClouse.com
Cell: 504-427-3899
Office: 985-307-1058
Fax: 985-307-1059
13592 River Road, Suite 6
Destrehan, LA 70047

Each Office Independently Owned & Operated
Licensed by Louisiana Real Estate Commission

As the New Orleans area continues to recover from the down housing market and impact of yet another powerful hurricane, the demand for rentals remains high, leaving residents with limited selection and high prices.  People who are looking to live in New Orleans should turn towards the vast selection of homes for sale.  With relatively low prices and excellent interest rates, buying could be a smarter decision for residents and their families.

According to New Orleans City Business, nearly 59,000 homes were damaged by hurricane Isaac.  Although the storm was relatively weak, its flooding damage was significant.  Areas like Jefferson, Orleans, and St. John the Baptist parishes were hit the hardest.  Home damages have displaced residents who turn to rental homes and apartments, increasing competition as people vie for this housing option. 

But with home sales prices down, the idea of home buying is attractive, especially since interest rates remain low.  Compared with last year, the average selling price of homes in the New Orleans area in September was down 0.7 percent.  East Jefferson home prices averaged less than $200,000. 

With the housing market projected to recover and home prices likely to rise in the near future, buying a home at a low price now could be a wise decision in the long run. Mortgage rates are still relatively low, and tax benefits also make home buying appealing at this point in time.  With the high prices of rentals, it might actually be less to buy a house than rent.  Want to figure out if it makes sense to buy?  Find two similar houses, one for sale and one for rent, and divide the asking price by the annual rent.  A rent ratio of 20 or more usually means that it costs more to own than rent after you factor in the mortgage, taxes, insurance, repairs, etc.  If that ratio is closer to 10, buying is likely the better option. 

Consumer habits seem to favor rentals, but the New Orleans area is seeing a supply-demand imbalance that is creating higher prices for residents and severely limiting the options for rental homes and apartments.  Great interest rates are fueling a housing recovery that could eventually help the broader economy, and with an excellent selection of homes for sale, people can pick the right one to create a home for their family.

Paige Taylor is a creative writer from Michigan.  In addition to her work as a guest writer, she works closely with Best Drug Rehabilitation, helping people find drug rehab programs to aid in their recovery.

Teresa O. Breaux, Louisiana market president for Iberia Bank Mortgage, said, “The volume of business in the southeast region in January 2012 is almost double the volume for the same period in 2011.”

Lenders point out that the past few months have been as active as the summer, even with the holidays and Carnival, indicating the strong interest buyers and owners have in securing a loan and refinancing. High loan activity has been reported in Uptown, the French Quarter, and the lakefront area. There has also been activity in Marigny, Bywater, and St. Bernard.

Besides home loan activity, there has been an increase in home construction loans. President of First NBC Ashton Ryan Jr. said, “We see a strong pipeline of new construction projects particularly around the Mid-City medical complex and the Loyola/Girod new streetcar corridor. The tax credit construction is winding down and new tax credits were less focused on New Orleans. School construction and levee construction continues strong…We also see a lot of renovation on historic and Katrina-damaged real estate.” Lenders are offering programs tailored for home owners to go from new construction phases to long-term mortgages.

Experts emphasize that potential buyers should work with local, experienced lenders to help them get pre-qualified. Local lenders bring their expertise about the metro area to the table, including neighborhood characteristics and history.

There are a variety of loan options for New Orleans metro residents in particular, depending on their background and location, including Federal Home Administration loans, Veteran Affairs loans, Rural Development Loan Assistance.

Local lenders encourage home buyers to take advantage of great rates, housing options, and affordable prices.

St. Charles Parish will receive $1.7 million for the 2012-13 academic year, and declining amounts for the next four years. The schools set to receive funds are George Washington Carver Early Learning Center, Luling Elementary School, R.K. Smith Elementary School, and Hahnville High School. These schools, according to Assistant Superintendent of Curriculum Rachel Allemand, are the most disadvantaged. St. Parish, like other districts, will be required to use at least 15% of funds to serve children from birth to 5 years, at least 40% in kindergarten through 5^th grades; at least 20% in high schools; and 5% for administrative costs.

George Washington Carver, Early Learning Center, Luling Elementary, R.K. Smith Elementary, and Hahnville will get 1-3 interventionists plus instructional materials. The purpose of the interventionists is to provide one-on-one instruction to children not yet up to grade level reading, and professional development for teachers. Allemand points out that the districts will utilize technology to evaluate their methods.

The Striving Readers program will be evaluated by the Picard Center at the University of Louisiana at Lafayette, using iLEAP, LEAP, end-of-course tests, and language development preschool assessments.

In addition to St. Charles Parish, Jefferson Parish, St. Bernard Parish, and St. Tammany Parish will receive a base allocation of nearly $1 million and a $300 per pupil allocation to cover salaries, resources, and services. Nearly 55 districts applied for the grants, and a second round will be selected in 2013.

Allemand said, “We're really excited about it. It's probably one of the largest grants we've gotten in this district in the last 10 or 15 years.”

FEMA’s Louisiana Recovery Office’s Deputy Director of Programs Andre Cadogan said, “Our consolidated funding best reflects the needs of the St. Bernard Parish School Board as they embark on their final rebuilding efforts and becoming the first school system in Louisiana destroyed by Hurricane Katrina to reach their end goal -- full recovery.”

In 2008, Sen. Mary Landrieu, D-La. pushed for legislation to allow for lump-sum payments and reduced penalties for alternative plans, such as St. Bernard’s plan to consolidate its original 14 facilities down to 9 facilities. The move from approving disaster payments on a project by project basis to providing single block payments allows the district to exercise autonomy when it comet to allocating funds for improvements.

 “The whole intent isn’t to give you more than what you had before, but to give you the financial value of what you had in the past and not tie you to have to do exactly what you had previously,” said St. Bernard Schools Superintendent Doris Voitier. “You have to think how you are going to rebuild to service the community you have now and the community you expect the parish to become.”

Post-Katrina recovery efforts have been volatile issues for parishes. The school district argument has been that FEMA undervalued the cost of rebuilding in today’s marketplace, and FEMA’s reassessment of district losses is a critical step toward rebuilding schools.

St. Bernard parish had three public high schools before Katrina. Today, Chalmette High School is the only one. It is undergoing a three-year renovation and expansion project. The school district has completed Joe Davies and J.F. Gauthier Elementary schools, a new Ninth Grade Academy, a cultural arts building, and a transportation, maintenance and storage building.

Other projects in the works are LaCoste Elementary and Arabi Elementary School Gymnasium openings, and the conversion of the Maumus Center to a science center, planetarium, and Hurricane Katrina museum.

Each year, more than 400,000 people flock to the Fair Grounds Race Course in New Orleans to take in this unforgettable festival. In 2004, the Wall Street Journal said the New Orleans Jazz & Heritage Festival “showcases a wider, deeper lineup of essential American musical styles than any festival in the nation.” It’s still true! In addition to traditional and contemporary jazz music, the festival features music from all of the indigenous and cultural genres of Louisiana and New Orleans, including blues, R&B, gospel, Cajun, zydeco, Afro-Caribbean, folk, Latin, rock, rap, country, and bluegrass. But, of course, music isn’t the only thing the festival has to offer.

Celebrating Louisiana’s heritage is a major focus of the popular, seven-day festival. In the Louisiana Folklife Village, visitors can watch master artisans create meticulously crafted goods using generations-old techniques. From handcrafted accordions and water-ready skiffs to decorative iron pieces and papier-mâché floats, you’ll be amazed at what you find in the Folklife Village. In The Cultural Exchange Pavilion, spectators will get an insider’s peek into the creative and communal culture of the Mardi Gras Indians.

In addition to its special exhibits, educational seminars, and musical showcases, the festival features a wide array of foods and crafts for purchase. From eclectic delights to traditional favorites, there’s sure to be something for everyone! This year, J&M Seafood will serve up shucked oysters on the half shell at the Grandstand, while Heritage Square will play host to Vietnamese cuisine, crawfish bisque, barbeque pork ribs, beignets, café au lait, and old-fashioned handmade ice cream sandwiches. Hungry eaters can also find Louisiana’s famous sweet potato pie in Congo Square. Other goodies offered at the festival will include gyro sandwiches, crawfish strudel, creole’s stuffed bread, Cuban sandwiches, Jamaican chicken, gelato, homemade pies, and more.

Visitors can also purchase handcrafted clothing, leather goods, musical instruments, paintings, photographs, sculpture, jewelry, and more from local, national, and international artisans at booths throughout the festival. Louisiana’s finest traditional and contemporary artists will display their unique cultural pieces in the Louisiana Marketplace, while the Congo Square African Marketplace will showcase work from throughout the African Diaspora.

With all this exciting festival has to offer, it’s no wonder the New Orleans Jazz & Heritage Festival has won Festival of the Year time and time again. This year, join the fun! Tickets are on sale now! To purchase, visit http://www.nojazzfest.com/.

With its white pillars, green shutters, exotic gardens, horsehair plaster walls, red brick floors, and wraparound gallery, Mary Plantation offers a glimpse into Louisiana’s architectural past. It is also a testament to history. During its lifetime, the house has withstood a British Invasion, the Civil War, and three major hurricanes, including Hurricane Katrina in 2005.

Prior to the Civil War, the property featured fields of indigo, rice, and citrus, which were worked by slaves. Over the years, however, much of the property was sold. Today, Mary Plantation sits on seven acres of land.

Historic preservationist Blaine Murrell McBurney and his wife, Stephanie, put the house on the market in 2010 for approximately $1 million. New Orleans hotelier, Blake Miller, purchased the French Creole-style home for $770,000 at a noon auction on March 10, 2012, according to The Associated Press. By auction rules, the property went to the highest bidder. There was no minimum or reserve price.

Neal Alford, president of Neal Auction Co., has sold other similar homes at the same type of auction. These include some of Louisiana’s grandest old homes, such as the Bocage Plantation in Darrow, La., and the Spanish Custom House in New Orleans. Both sold for more than $1 million. Bocage Plantation is now a historic bed and breakfast. Alford believes Mary Plantation may also become a tourist destination.

While Braithwaite isn’t a popular tourist destination, it is undergoing some revitalization. Actor Brad Pitt is currently orchestrating a Make It Right rebuilding effort in the city’s Lower 9^th Ward. Additionally, the city lies near the battlefield where Andrew Jackson defeated an invading British army in the early 1800s. Overall, many of the leaders in the Louisiana tourism industry believe Mary Plantation will soon become one of the area’s most beautiful attractions.

More than 250,000 people visit the festival each year to experience some of the finest food and jazz New Orleans has to offer. From crawfish and goat cheese crepes to sweet potato pie and boudin balls, the French Quarter Festival has all your Cajun and Southern favorites. Foodies will enjoy delectable treats like grilled chicken livers with pepper jelly and Oysters Bonne Femme from some of New Orleans’ favorite dine-in restaurants, including Antoine’s, Desire Oyster Bar, The Bombay Club, and Muriel’s. At only $4 to $8 per menu item, participants can afford to try a variety of items.

Musical lineups will include 2012 Grammy winners, Rebirth Brass Brand; New Orleans’ favorites Troy ‘Trombone Shorty’ Andrews and Orleans Avenue, and Walter ‘Wolfman’ Washington; as well as the Royal Southern Brotherhood with Cyril Neville; Don Vappie and the Creole Jazz Serenaders; Deacon John; New Orleans Bingo! Show; George Porter, Jr. and his Runnin’ Pardners; Papa Grows Funk; Gina Brown & Anutha Level; the Iguanas; Irvin Mayfield and the New Orleans Jazz Orchestra; Jeremy Davenport; Soul Rebels; Amanda Shaw and the Cute Guys; and Bill Summers & Jazalsa.

Other festival offerings include free Cajun Jitterbug, Zydeco, and Swing dance lessons; a parade, a battle of the bands, an opera, children’s activities, and the Pirates Alley Juried Art Show, which features original artwork from more than 100 artists. The Rouses World Championship Crawfish Eating Contest will take place at noon on Saturday the 14^th. Especially exciting is the return of the fireworks show over the Mississippi. Set to take place at 9 p.m. on Saturday the 14^th, the fireworks show will be the first one since 2005. For information on festival events, rules, parking, and shuttle rides, visit http://www.fqfi.org/frenchquarterfest/.

Numbers don’t lie; that’s the theory anyway. Sure they can be manipulated, arranged and presented in such a way that makes it appear to be deceiving, but those who have knowledge, training and talent in the area can usually decipher the deception.

We are going to examine some statistics about the New Orleans housing market enjoying an uptick these days in, however it is always best to check into these stats for yourself, not only to verify the accuracy of them, but also to apply them to your unique, personal lifestyle.

Home prices in metropolitan New Orleans continued to drop throughout 2011; however, according to fresh information from the New Orleans Metropolitan Association of Realtors, the pace of the decline has slowed a bit. Not only that but when you add it to the statistical data showing that the number of homes sold had risen correspondingly, it seems to be cause for at least some optimism.

Another potential ray of sunshine peeking over the real estate horizon in New Orleans is actually twofold: While the price per square foot average in the metro endured a fall of about 1 percent over the past year (from 2010 to 2011), it turned out to be much better than the 4 percent decline seen during the two preceding years. The second encouraging stat is that home sale numbers jumped up an average of about 9 percent, with St. John the Baptist the only parish that did not enjoy a boost in home sale volume.

Meanwhile, in the rest of the U.S., the National Association of Home Builders in conjunction with Wells Fargo announced in February that something they call their builder sentiment index showed some upward mobility for a fifth consecutive month. This essentially means that the builders feel good about the housing market.

So, why should St. Patrick’s Day be any different, right? Well, it most definitely is not, at least where the aura of fun is concerned.

In New Orleans, on March 17 every year, St. Patrick’s Day is celebrated through the magic and enchantment of a massively beautiful parade. People from all over pack the city’s sidewalks and streets to enjoy the live music, extravagant floats, and for some lucky people, flowers, beads, and kisses.

But if you think the party ends with the tail of just one parade, then you don’t know New Orleans very well. Below is a listing of several other St. Patrick’s Day parades, parties and festivities. If you still aren’t satisfied and want more options, check out St. Patrick’s Day New Orleans.com and NewOrleansOnline.com.

Sunday, March 11, 2012
St. Patrick's Day Parade on Metairie Road (12 Noon)
The annual Metairie Road St. Patrick's Day parade will take place on Sunday, March 11. The parade begins at 11 a.m. in front of Rummel High School on Severn Avenue, goes down Severn to Metairie Road, then follows Metairie Road to the parish line.
See parade route

Thursday, March 15, 2012 - 10 a.m. - 8p.m.
Parasol's Block Party Celebration
3rd and Constance 10 a.m. to 8 p.m. Music green beer, food and surprises.
See party location

Saturday, March 17, 2012
Irish Channel Parade - 1 p.m.
The Irish Channel St. Patrick's Day Club will hold its 62nd Annual Mass and Parade celebration on Saturday, March 17th, 12:00 p.m. at St. Mary's Assumption Church (corner of Constance and Josephine Streets) followed by the parade (corner of Felicity and Magazine) at 1:00 p.m.
See parade route

Saturday, March 17, 2012
Tracey's St. Paddy's Day Party - 11 a.m.
Annual celebration in the Irish Channel - 2604 Magazine Street. Lots of green beer!
See party location

Saturday, March 17, 2012
Downtown Irish Club Parade - 6:00 p.m.
The annual downtown St. Patrick's Day parade begins on the corner of Burgundy and Piety in the Bywater, proceeds roughly up Royal, across Esplanade to Decatur, up Bienville to Bourbon. The parade makes several "pit stops" on its way to Bourbon St.
See parade route

Sunday, March 18, 2012
Louisiana Irish-Italian Parade (Metairie) - 12 Noon
The 2011 Louisiana Irish-Italian Parade will roll on March 18th, at 12:00 noon, on the traditional Vets Hwy route in Metairie.
See parade route

It is a relatively safe assumption that if you were to ask 100 Americans which of their country’s cities has the most “soul,” at least 90 of them (if they are being totally honest and objective and not voting for their own town) would answer New Orleans. At least, this is how things look from the Big Easy.

Soul Fest, presented by WellCare, has given the city an official excuse to celebrate and recognize its deeply rooted and proudly evident African-American heritage and history for what will be the ninth consecutive year when it kicks off on Saturday, March 3.   

More than 20,000 revelers are expected to shuffle on over to the Audubon Zoo for the two-day family oriented event (March 3 to March 4; 10 a.m. to 5 p.m.), where they will enjoy a variety of entertainment options and all ages are welcome.

A number of local jazz, rhythm and blues and Gospel performers will showcase their own unique brands of soul music live on the Capital One Stage. For a detailed listing of artists, times and musical genres to be performed, check the bottom of this article, or go to the Soul Fest page on the Audubon Zoo’s website.

You can’t have a Soul Fest without bona fide, authentic soul food. Several New Orleans-area restaurants will be on hand, preparing their Soul Food specialties for you.

Soul Fest and the zoo will even have cool stuff just for kids, such as a fascinating variety of exotic animals, and the Kids’ Cultural tent, which offers kids several hands-on activities with which to play, have fun and maybe even learn something.

The highlight of the event will be a tribute to African American Firsts. Several distinguished contributors to Black History who are scheduled to be honored include, South Coast Paper, D. Mjeeda Snead, Dr. Charles Teamerand and Natalie Robottom. 

Admission to the 9th annual Soul Fest is free to Audubon Zoo members; non-members will need to purchase General Admission tickets from the zoo to get in, but there is no additional charge to gain entrance to Soul Fest. According to the Audubon Zoo’s website, General Admission costs $16 for adults; $11 for children ages 2 to 12; and $13 for visitors more than 65 years old.

Soul Fest 2012 – ENTERTAINMENT PRESENTED BY WALMART

Saturday, March 3, 2012

Sunday, March 4, 2012

Ken Clouse
504-432-4262
Owner/Broker/Realtor
Clouse Realty & Assoc.
 

Home Security for Homeowners

According to the Federal Citizen Information Center, installing a home security system is one of a dozen ways to lower your homeowners insurance costs. Insurance companies will often offer small discounts for burglar alarms and deadbolt locks and much larger discounts for sophisticated systems that ring the police, fire or other monitoring stations. Having a system can also increase the value of your home while protecting the assets inside. According to The New York Times, the average burglary loss in a home with an alarm system is $3,266 whereas the average loss in a home without one is $5,343. Experts assert what strikes many as common sense: this is because burglars have more time to steal items within the home if there isn't an alarm to scare them away.

Home Security for Home Buyers

More sophisticated home security systems can run anywhere from a few hundred dollars to more than several thousand, and that doesn't include the installation costs. If security is important, shop for houses with systems already installed. Make sure to get all the information about which monitoring companies you'll need to call and anything else you'll need to know to get the system up and running under your name. Once you purchase the house, test the system regularly, and make sure everyone in your household knows how to use it and what the pass codes are, if any.

Other Home Safety Tips

If you are a homeowner or potential home buyer, there are also a few other things you can do to improve your home safety. Install or look for homes with motion-detector lights, deadbolts, well-fitted window coverings that conceal your belongings and careful landscaping with shrubs and trees that burglars can't hide behind. Also, keep any tools and ladders that burglars could use to enter your house carefully locked away. Home security is important; with a little effort, you can make your home safe.

Fixed Rate Mortgage

This mortgage features a locked-in interest rate that won't change no matter what the market does. Buyers have the option of choosing between 15- and 30-year plans. FHA and VA loans are examples of fixed rate mortgages that are guaranteed by the government. They are often easier to qualify for and ask for a smaller down payment than other types of loan programs.

Adjustable Rate Mortgage (ARM)

While adjustable rate mortgages can be beneficial when market rates are low because the interest rates and mortgages payment will be lower as well, when the market recovers the payments can skyrocket. Option ARMs are a type of mortgage loan that falls within this category, and unlike more traditional ARMs, they do not have a cap on how much the rate can change. In some cases rate limit caps may be available. Periodic caps limit the amount of increase possible from one adjustment period to another. Overall caps limit the rate of interest increase over the life of the loan. Overall caps have been legally required since 1987.

Balloon Mortgages

Balloon mortgages are set up to act a lot like traditional fixed rate mortgages, but this is only at the beginning. After a period of typically 5 to 7 years, the buyer then pays off the outstanding balance in one lump sum.

Interest-Only Mortgages

In this type of loan, the buyer only pays the interest. While this can be appealing at first because payments will be very low, once the term expires, the buyer faces steeper loan payments to cover the principal of the loan.

Biweekly and Bimonthly Mortgages

Buyers make payments every two weeks and generally have shorter loan terms and pay less in interest. However, the buyer will have more payments during a one-year period than with other loans.

Today's Economy

While today's economic situation seems a bit daunting for most Americans, there is a silver lining. According to a study in The New York Times, now is a great time to buy for many people because prices are historically low. However, the study also provides potential home buyers with a ratio to help them determine whether buying is the right option: Divide the purchase price of the house with the annual cost of renting a similar one. An answer above 20 means you should at least consider renting, while a ratio below 20 makes buying a lot more appealing.

Length of Stay

How long you plan to stay in the house should also help you determine whether to rent or buy. For example, The New York Times also claims that for most people who stay in their homes for more than six years, buying is almost always a better option, providing them with an average savings of $1,743 per year. If you aren't staying for at least five years, renting might be a better alternative.

Financial Situation

It is true that it takes stronger credit and a larger down payment to get into a home than it did several years ago. However, there are still a lot of options available to first-time home buyers, so don't let your financial situation rule out a purchase. The government offers FHA loans and loans for teachers, officers, firefighters and more. There are also many state programs that can help.

Stability

Finally, consider renting out one room of the new home you buy if you are worried about making payments. However, if you are married and securely employed, chances are that the mortgage payment will be easy to make. If you are temporarily employed or between jobs, consider waiting until you find a more secure job to make this transition.

Throughout the city of New Orleans, the real estate market has had a mostly stellar calendar year in 2011. This has been marked by high volume increases throughout the city with sale prices. Homes on both banks have experienced these sale increases throughout the year.

An increase in sales has been brewing for the better part of 2011.  For the entire New Orleans real estate market, a sales increase of 21 percent has been a telling sign of a possible resurgence. Over 581 homes have been sold throughout the city for the first nine months of the year in 2010. This year, there was already over 700 homes sold through the month of September. The increase in sales for the New Orleans area has been important, as many other cities around the nation have experienced an opposite fortune.

Sale prices have gone up in both the West Bank and East Bank with a number of different trends appealing to different buyers. Rent rates have continued to go up since 2006, with New Orleans apartments averaging in four figures per month. Since last fall, the selling price in the area has gone up by nearly eight percent. Last year at this time, the average New Orleans home was $185,988 and this year the average prices out at about $200,069.

Buyers are also being influenced by nationally low mortgage rates this fall. In New Orleans, a 30 year fixed rate mortgage is currently at 4.343 APR. The APR’s have reached some of the lowest points in recent memory in 2011, with the rate often floating in the sub 4 regions. The low mortgage rates continue to be one of the other major reasons potential buyers are dipping their feet into the New Orleans Real Estate Market.

Even with record low mortgage rates, low sale prices and higher sales numbers, some parts of New Orleans have still experienced some hurdles in 2011. Some neighborhoods and towns in the area may not appeal as much to people who are moving from outside of the city. Right now, there isn’t a lot of movement in the sales market within the city. Once home purchases from within the area pickup, the neighborhoods that are a bit undervalued right now could see resurgence.

Even though some of the cities’ neighborhoods and towns have experienced some obstacles in 2011, the overall numbers are a telling sign for the future of the New Orleans real estate market. Mortgage rates continue to be record low, while rental rates are high and sales are up. With promising numbers for the third quarter of 2011, early 2012 could spell another great stretch for the area.

Melinda Carter
(Freelance Writer)
melindacarter204@gmail.com