Real Estate Resolutions for Home Buyers and Sellers

Yep, it’s that time of year again when we all decide that we are going to lose weight, quit smoking, start exercising and become more organized. Calendars and planners are flying off the shelves as everyone tries to start the New Year off on the right foot, hoping for an improvement over last year.  Whether it was a good year or not, we always want more, more, more and the beginning of the year is the time that we plan out our paths for the next twelve months.

While making my own list of resolutions, I put together some suggestions for home buyers and sellers that might help your real estate goals for 2010 come true.

Home Seller Resolutions

Make your home the best value in the neighborhood

Your home may be the most beautiful, with the most updates, but if it’s not priced to attract the buyers looking in your area, then you’ll be starting the year out disappointed.  Ask your agent to provide a new list of competing listings and recent sales and review them carefully.  Be sure that you know what the successful sellers in your neighborhood did and follow their lead. Did they provide closing cost assistance to the buyer? Did they offer a home warranty? Did they allow the purchaser to assume their flood insurance? These are all incentives for a buyer to choose your home over the one right down the street.  A good place to start your research is with a free online report of listings and sales in your neighborhood.

Be prepared for all showings

Beyond the common sense advice of keeping the beds made, the dishes out of the sink and the toys picked up and put away, there is more to being prepared for buyers.  Have you cleaned out your closets and made them appear as roomy as possible, or will those old tennis rackets fall out and hit someone in the head?  Did you clear out the garage to showcase the storage space or is it jammed to the rafters with 20 years of stuff that you can’t bear to part with?  Do you have seasonal plants in the garden or is it overgrown with the leftovers from summer?  From the moment a buyer pulls up in front of your house, you want them to feel at home.  Read Home Staging Tips for more advice on preparing your home for sale.

Make your house easy to show

When an agent is scheduling appointments to show homes to potential buyers, don’t give them a reason to skip over yours because it’s difficult for them to get in.  With the large number of competing homes in most neighborhoods on the West Bank, it’s important to be flexible and not turn down appointments.  If your showing instructions read something like “All appointments must be scheduled 10 days in advance of the new moon”, you are going to be in for the long haul trying to sell your home.  Have your agent install an electronic lockbox and get those buyers through the door at their convenience.

Home Buyer Resolutions

Save, save and save some more

The guidelines for mortgages are becoming more and more stringent, with higher down payments than we have seen in several years being required.  It’s important to save as much as possible before you starting house hunting.  Not only will you need cash for a down payment and closing costs, but you don’t want to move into a home without the resources to furnish and maintain it properly.  Read Are You Ready to Be a Home Owner?

Don’t buy more house than you can comfortably afford

While lenders are getting stricter, they will still qualify you for the maximum mortgage that fits their lending model.  This may not be the same amount that you are comfortable spending each month.  It’s tempting to want to buy more house than fits your budget’s comfort zone, but don’t do it!  You’ll soon find yourself dipping into your savings for an unexpected home repair only to find that there is no more savings because you are stretched too thin.

Be realistic about your wants and needs based on your budget

When you decide to buy a home, your agent will ask you a lot of questions about your wants and needs.  This is the time to make a list of the things you absolutely cannot live without and those that are just nice-to-haves.  Space for everyone to sleep is a need; a 3 car garage is a want.  A functional kitchen is a need; an in-ground pool is a want.  Bells and whistles are nice to have, but staying within your budget is more important than those granite counter tops that you can always put in later.

 

Search New Orleans West Bank Homes for Sale

 

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The West Bank Living Team provides professional real estate services to home buyers and sellers on the West Bank of New Orleans.  Contact us for assistance with any of your real estate needs.  It would be our pleasure to help you!

Gretna LA 70053 | November 2009 Home Sales and Real Estate Market Reports

Current real estate activity in the City of Gretna:

57 homes are for sale in Gretna

• High list price $409,000
• Low list price $34,900
• Average list price $149,947
• Median list price $139,900

7 homes are pending sale or under contract, listed from $49,900 to $255,000

Based on November sales (11), there is a 5.18 month supply of homes for sale in Gretna

Gretna LA 70053 | Number of Homes Sold | November 2009

Great news for Gretna…home sales have now exceeded the number of sales in 2008, with another month of closings to go!   More good news is that the inventory of 5.18 months shows a balanced real estate market for the city that has worked so hard to improve the quality of life for its residents with community events that surpass those of most West Bank neighborhoods.

Gretna LA 70053 | Average Home Sale Prices | November 2009

The opposite end of the spectrum is the average housing price in Gretna.  It has fallen off almost 5% from the 2008 average – still not as dramatic a drop as other parts of the West Bank.  Remember, this is an average of all single family home sales in Gretna. 

Want to keep up with active listings and sales in your area?  Find out what’s going on in your West Bank neighborhood with this week’s free market snapshot.

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

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

Home buying tips
Home selling tips

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For more information about home buying or selling in the City of Gretna, please contact the West Bank Living Team.  It would be our pleasure to assist you with any of your real estate needs and have a little fun while doing it!

Terrytown and Gretna LA 70056 | November 2009 Home Sales and Real Estate Market Reports

Current real estate activity in Terrytown and Gretna LA 70056:

161 homes are for sale

• High list price $899,000
• Low list price $24,900
• Average list price $210,333
• Median list price $169,900

39 homes are under contract or pending sales, priced from $53,000 to $425,000

Based on November sales (30), there is a 18.6 month supply of homes for sale in the area

Terrytown and Gretna | Number of Homes Sold | November 2009

The last couple of months have seen a substantial increase in the number of homes sold in Terrytown and Gretna, bringing the year to date number of sales to 210.  Looking at the average number of homes sold each month in 2009, I would project that this year will surpass 2008 – one of the only areas on the West Bank that will record an increase in sales.

Most buyers (45.7%) are using FHA financing to purchase Terrytown homes, which means they are not purchasing homes that require substantial repairs.  This is important for sellers to know when deciding what they are willing to do to prepare their homes for sale.

Terrytown and Gretna | Average Home Sale Prices | November 2009

Although the number of sales in the 70056 zip code is increasing, the average sale prices are about 5% below those of 2008.  The good news is that prices are above those in 2005, our last really “normal” market on the West Bank.  As is the case in every area, some communities are performing better/worse than others.

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

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

Terrytown and Gretna Homes for Sale
New Orleans West Bank Homes for Sale

Home buying tips
Home selling tips

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For more information about buying or selling a West Bank home, please contact the West Bank Living Team.  It would be our pleasure to assist you with any of your real estate needs, and have a little fun while doing it!

Harvey LA 70058 | November 2009 Home Sales and Real Estate Market Reports

Current real estate activity in Harvey LA:

156 homes are for sale

• High list price $549,000
• Low list price $500**
• Average list price $174,018
• Median list price $148,750

**The property listed for $500 is a HUD property with other existing liens that would have to be cleared to obtain a clear title to the property

42 homes are under contract or pending sale, priced from $54,500 to $389,000

Based on the November sales (19), there is a 8.2 month supply of homes for sale in Harvey

Harvey LA | Number of Homes Sold | November 2009

After a big spike in October, home sales in Harvey dropped to 19 homes sold in November, bringing the year to date total to 202.  Compared to 238 at the same time last year, this is a decrease of just over 15% in the number of homes being sold in the area.

Harvey LA | Average Home Sale Prices | November 2009

While the number of sales may be down, Harvey is recording the largest increase in prices on the West Bank. The average home sale price of $164,267 is an increase of 6.5% over the 2008 average and even surpasses the 2005 average, which was our last really “normal” real estate market in the metro area.

Not every neighborhood has seen an increase in value, but this month’s spot to watch is Spanish Oaks, where we’ve seen surprisingly higher than normal prices in some recent sales.

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

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

Home buying tips
Home selling tips

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For professional assistance with any of your West Bank real estate needs, please contact the West Bank Living Team.  It would be our pleasure to assist you.

Let Your Christmas Tree Help the Louisiana Coastline | Recyle It!

I’ve already seen some trees on the curb in front of the homes of those overachievers who are johnny on the spot with removing all traces of the holidays from their homes…even before the traditional end of Christmas on Twelfth Night. Not only are they not reveling in the season, they are missing out on the chance to help save our rapidly diminishing wetlands and coastline by recycling their tree.

Each year, the Louisiana Department of Natural Resources builds pens that are filled with discarded Christmas trees in an effort to slow the rate at which our land is being washed and eroded away.  You can do your part by recycling your tree to be used in this valuable project.

Orleans Parish, Unincorporated Jefferson Parish and the Town of Lafitte

Place your tree curbside on January 5th, with pickups scheduled on January 6th, 7th and 8th, 2010.

Remember that flocked or painted trees cannot be used in this project.  Also, you must remove all decorations, tinsel, lights and stands.

Volunteer to Help with the Jefferson Parish Christmas Tree Marsh Restoration Project 2010

Volunteers with shallow draft boats are needed to place Christmas trees into pre-constructed shoreline fences in Goose Bayou, near the town of Jean Lafitte on the following Saturdays:

• January 9, 2010*
• January 16, 2010*
• January 23, 2010*
• January 30, 2010*

*If inclement weather (rain or high winds), please call (504) 731-4612 to check if a scheduled event has
been cancelled.

Volunteers will meet at 8:00 a.m. at Cochiara’s Marina, 4477 Jean Lafitte Blvd., Lafitte.  Volunteers must be 17 years of age or older. Recommended: layered clothing including long pants, long sleeved shirt and closed toe, sturdy shoes, hats and sunscreen.  Lunch and refreshments will be provided.

Please contact the following for more information or to volunteer:
Jefferson Parish Department of Environmental Affairs
4901 Jefferson Highway, Suite E
Jefferson, LA 70121
Phone: (504) 731-4612   Fax: (504) 731-4607    email: jpenvironmental@jeffparish.net

Let’s let the giving spirit of the Christmas season continue and help us help ourselves.

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