New Orleans Real Estate by Eric

    This is part of a recent article on colors of homes in the New Orleans area and how unique many of the homes and condos are.  I have added some of my photos to give you some ideas of the variety.  Historic New Orleans is blessed to have many such neighborhoods.  Sometimes change is not good.  We should be glad to have such a colorful city. New Orleans Condo Trends Blog for more    

    Of course someone is  going to go overboard, its like having that Uncle who listens to a different drummer and sees what others do not.   They too are accepted as the norm in many areas of town.

     "Basically, it's a fairly inoffensive color, easy to paint over, makes decorating very easy and generally no one has an objection," Sciortino said. "In my opinion, it is rather lackluster and everyone has it."

     "Whereas the colors in neighborhoods such as the Marigny, Treme and the Bywater reflect more vibrantly colored French-Caribbean traditions, Uptown New Orleans has always tended toward a more subdued color palette, based largely on the architectural styles of the mid-19th to early 20th centuries, said Hilary Irvin, principal architectural historian for the Vieux Carré Commission. But Irvin said the monochromatic trend that has won favor recently Uptown is driven more by fashion than history.

     "It's a weird thing, fashion," said house painter Joe Wallis. "When I first started in this business 30 years ago, people were painting their houses green, blue, peach," he said. "Very rarely do I paint a house in blues and oranges anymore."

     According to Louis Aubert, an interior designer known to many as "Mr. Color" for his color consultation work, the phenomenon is as much a response to the stresses of the past few years as anything else.

     "I think because we've been through so much, if you're going to go through remodeling your house, you want to gain something," Aubert said. "They want to feel like something has happened, like we've made a change and for the better."

       This is an example of a home in Uptown New Orleans that will jump out at you.

Recently read where countrywide gave two special deals to two senators.  When questioned the Senators knew nothing about it? I find this hard to believe since they always seem to know what is best for us. Why would countrywide help them out and not let them know?

You would think they would know a lot about there own business. Its not like its a 50 hour per week job and you have no staff. Have you gotten a special deal as a regular person. Lets hope these guys are not on the senate banking committe.  No one knowing is a stretch for me! This was copied from a recent article in Conde' Nest

 " Two U.S. senators, two former Cabinet members, and a former ambassador to the United Nations received loans from Countrywide Financial through a little-known program that waived points, lender fees, and company borrowing rules for prominent people."
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"Senators Christopher Dodd, Democrat from Connecticut and chairman of the Banking Committee, and Kent Conrad, Democrat from North Dakota, chairman of the Budget Committee and a member of the Finance Committee, refinanced properties through Countrywide's "V.I.P." program in 2003 and 2004, according to company documents and emails and a former employee familiar with the loans."

"Other participants in the V.I.P. program included former Secretary of Housing and Urban Development Alphonso Jackson, former Secretary of Health and Human Services Donna Shalala, and former U.N. ambassador and assistant Secretary of State Richard Holbrooke. Jackson was deputy H.U.D. secretary in the Bush administration when he received the loans in 2003. Shalala, who received two loans in 2002, had by then left the Clinton administration for her current position as president of the University of Miami. She is scheduled to receive a Presidential Medal of Freedom on June 19."
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"Holbrooke, whose stint as U.N. ambassador ended in 2001, was also working in the private sector when he and his family received V.I.P. loans. He was an adviser to Hillary Clinton's presidential campaign."

"James Johnson, who had been advising presidential candidate Barack Obama on the selection of a running mate, resigned from the Obama campaign Wednesday after the Wall Street Journal reported that he received Countrywide loans at below-market rates."

"Most of the officials belonged to a group of V.I.P. loan recipients known in company documents and emails as "F.O.A.'s"-Friends of Angelo, a reference to Countrywide chief executive Angelo Mozilo. While the V.I.P. program also serviced friends and contacts of other Countrywide executives, the F.O.A.'s made up the biggest subset."

"According to company documents and emails, the V.I.P.'s received better deals than those available to ordinary borrowers. Home-loan customers can reduce their interest rates by paying "points"-one point equals 1 percent of the loan's value. For V.I.P.'s, Countrywide often waived at least half a point and eliminated fees amounting to hundreds of dollars for underwriting, processing and document preparation. If interest rates fell while a V.I.P. loan was pending, Countrywide provided a free "float-down" to the lower rate, eschewing its usual charge of half a point. Some V.I.P.'s who bought or refinanced investment properties were often given the lower interest rate associated with primary residences."

A record crowd of 8,173 packed into Alex Box for the last...game. This is exciting for Louisiana fans and the Tiger fans around the country. Most would say it just a collge game but its more than that for the locals who put these events on the top burner. I know we are a little different. Geaux Tigers!! 

New Orleans second homes, New Orleans Condos fit the bill in the French Quarter, Warehouse District and Uptown. Buyers returning!

     Second home buyers are returning to the New Orleans Real Estate market in the Spring and Summer of 2008.  Several Years ago second homes were mainly to be found in the New Orleans French Quarter.  Now the Warehouse District and Uptown are also favorite spots depending upon the lifestyle that the buyer desires.  The prices remain most expensive in the French Quarter, then the Warehouse District and then in the Uptown area of New Orleans.  Condos have been the choice for most second home purchasers.

     This was not the case the past 2 years following Katrina.  Now all of a sudden people are aggressively looking in the areas where they want to be.  Prices have remained rather stable since 2005.  You have some motivated sellers so its not hard to find the right deal.  Buying a condo makes the most sense as the upkeep and insurance are in the condo fees. 

The French Quarter has shown the most dramatic movement and improvement as many of the units are already second homes.  Since business has been slower for two years there has been a build up of inventory which makes for more buys of high quality units.  The other element is that people are also choosing other areas of town within to buy for a variety of reasons.  A lot of the business has been in the 250-400k range.  looking for less than 200k its best to look in the Warehouse District.

     The Warehouse District Condos are going to more updated since very few even existed ten years ago.  The center of activity for the Warehouse District is around the Julia Street area.  You can walk to the French Quarter from here.  This is where many of the locals live and walk or ride the street car to work.  Its the place to be for young professionals and those second homers who have kids and family with them.    

      Its much easier to find two bedroom units with parking in the Warehouse District.  Many of the condos feature common areas security and tend to be larger complexes unlike the French Quarter.  The Cotton Mills gives you a great value for those looking at under 200k and want the amenities of having a pool, parking security and exercise room.  Pets are welcome in the Warehouse District.  Julia Place has also been hot as they have finished the common areas and offer a great location in the center of the area.

     The Uptown area has also beginning to see people buying in this area of town as a weekend retreat from the busy week.  Here there is also no need for a car as you can streetcar to town rather quickly.  The city is compact so nothing along the Mississippi River is very far away.  Most of these areas had no flooding from Katrina.  The condos in Uptown New Orleans come in all shapes and sizes. Its easier to find things under 200k and the it depends on what you are looking for.

      Many people buy units while their kids are  to school and either take over the unit or sell and buy something larger.  The area feels the college market more than any other.  The new factor is the second homes and condos tend to be the most viable choice.

    Gas prices are effecting everyones pocket book this Summer of 2008.  But once your hear you can get plenty of exercise and ther is no need to ride in your car.  The cost of a Hurricane at Pat O'Briens is soon going to be cheaper than a gallon of gas one of these days.  The variety is there and it will depend on what you would like to pay and enjoy.  I am very good at picking the best in your price range so call me or shoot me an e-mail.