New Orleans Real Estate by Eric

The locals know the area where you find lofts is the New Orleans Warehouse Dristrict which is the downtown area where the condos or lofts have been converted from old warehouses and office buildings. People from other places call these Lofts because they are calledLofts in the Eastern and Midwestern areas of the United States. The high ceiling, ample storage, large windows, brick wallls and wood floors. The big difference is the courtyards and pool areas are quite unique. The pictures are from the Cotton Mill Condos.

This has been a very vibrant area of the New Orleans market and prices have been very study. There are a couple of nice buys in the area. The area has also become a great area for a Warehouse District second homes as everything in the French Quarter, Garden District, and the downtown area are within walking distance.

Real Estate Blog - Audubon Trace Condos in Old Jefferson, near New ...

I am amazed how fast some of the localism posts are on the internet. I am wondering if these types of posts stay less time because they are coming from a blog format. I also wnated to know how long the time 18 hours will be posted. I know the time changes. Active Rain must get crawled very often. I am going to check the post daily and see what happens. Any ideas?

Audubon Trace Condos in Jefferson was one of the first developements that were built as Condos in the New Orleans Metro area. It was built in 1984 and still remains popular in today's market. The complex is on 15 acres and has over 250 units of townhouse style units. Most of the units are two bedroom units with a few one and three bedroom. The parking is ample. The condo fees cover insurance, exterior maintaince, security,upkeep of the grounds and pools. One of the great things is location. You are an easy commute to uptown New Orleans but livein a low tax area with very little crime. You are next to Jefferson playground with a gym, track, tennis courts and you are across the street from the Mississippi River levee. The levee is great for jogging and bike riding. The Condos are very pet friendly and plenty of places to walk them. Check out the Old Jefferson Neighborhood report on my condo site. New Orleans Condos.

I have several clients bought here and are very happy with the units and the lifestyle that Audubon Trace offers. They are always suprised on how quiet the area is and at the same time being so convenient to the things they use. In todays market the prices are going to range from 190k to 260k for most of the units. Many of the units have had upgrades such as new kitchens, new floors and appliances.  

Update: November 2007. The prices in Audubon Trace were too high after Katrina but in thelast couple of months the prices have come back to earth and you should be able to get a price that is fair as you have a number of units to compete for your business. The Condo Association is well funded and could be a good buy for someone wanting the country lifestyle next to the city.

New Orleans is located at the end of the Mississippi or the beginning of Missippi River Valley flyway. We get a lot of birds that fly though here. One of the reasons is that there are plenty of food and water here. We could be the insect capital of the country due to the warm weather and tropical foiliage that 60 inches ofg rain per year showers upon us. One of the birds that the local like is the Purple Martins that arrive in Feburary and March of each year coming from South America to begin their families. They love mosquitos and can eat their body weight in mosquitos daily. I have two condo towers designed for the Martins. I charge no rent and get my reward by watching them play and work each day feeding their young. They will return the following year if they found the amenties to their liking. 

A smaller New Orleans home can be called a cottage. This is a New Orleans double with a twist. It has an addition that was built in the last 50 years to give additional space for the families. A camelback is a tow story addition that is usually a nice size bedroom and bath that would have been added. The inside laundry was added with the kitchen most likely being remodeled in the rear. You still have the porch, shutters, iron work, millwork, and brick steps that were added at a later date. This one looks like a classic in the New Orleans Uptown area. You more than likelu have wide plank hardwood floors made from brages that brought trade down the Mississippi. Most of the time it was a one way trip down and the barge was sold for the wood. It was not until Mr. Fulton invented the steamship would boats be able to reverse the steps. It was an early green idea.   

In a weak market that are several numbers that you should know as a buyer. How long has the property been listed and what did the seller pay for the property. if the sale is a recent purchase it will give you some insite as to the present value if it has just been maintained. If the buy was made in the last 5 years we generally know how much homes have gone up. In this market the prices have been flat since the begginning of 2005. In 2004 prices in some areas when up 8-9% for that year and less for 2003. You also have to figure if they got a good deal or not. If they overpaid it gets harder to work a deal. You can see if other deals have fallen through. This may mean they are really motivated for a good buyer. I have a couple of clients asking me these questions and it can give you some insite into the sellers motivation. The other key factor is finding why the sellers are selling and do they really have to sell. Its always worth knowing the recent sales history and upgrades done to a home. Some ideas to be aware of in the New Orleans Market.

This is an New Orleans Historic parking meter. Before cars you had to have a place to tie up your horse. The French Quarter has few garages but there would have had to have been some stables nearby. No wonder the gardens grew well in this area of town, what did they do with the by-products of your mount in the past. Most of these must be for the tourist but its a nice touch. I would assume that you would also have a valet service for the stable, but without cell phones you may just have a wakeup call as the church bells were rung at the St. Louis Catherdal in Jackson Square around the corner. It was not always Jackson Square, because Andrew Jackson was not here until 1814.

Managing your photos can easily get out of hand if you do not have a plan. I take so many I tend to forget where it was. I know this was an attractive New Orleans Uptown Cottage, I know when I took it but that is all. Storage was once limited but now with an external hard drive and photo card that will hold 1000 photos. I delete many more but still store a lot. You never know when you can use them. A hurricane could come through and flood them all, then you would have a piece of history. I am now creating file by neighborhood and label the better one that I think I will use later. A photo can give you a blog or website idea. How do You manage your Photos? 

Lets say a win against a good team is a very good win. The game got sloppy once LSU went up 28-7 going inot the fourth quarter. its tough to win in the SEC as any of the teams can beat you. Georgia upset Alabama and Kentucky was a suprise winner over Arkansas. In two weeks it will be Florida coming to Baton Rouge. It will also be a must game for both teams. How is your favorite team doing. 

The real estate slowdown is for real for reasons other than the lending mess that was easy to predict with the subprime loans. I think people are just going to save more in the future and rather than putting it into real estate they will be satisfied with less house. The baby boomers have to have a crash course in savings. The new generation that I deal a lot with in condos does not need or want the smae type of housing as their parents. The needs have changed for both groups. People will begin to spend less on many fronts with increased energy costs, taxes, insurances and may not be able to keep up with these expenses through wages. This is an idea I have had for some time and would like to know what you guys think? I am not sure where the money is going to go but less will go to real estate.

This is not to say real estate will tank but will revist the historic trends where 4-5% will be viewed as a great return. This will apply to the areas where its hard to duplicate or has an infux of jobs from other locations.