Please Make Your Home Easy to Show!
July 23, 2008 by lisa
Filed under Blog, For Sellers, Real Estate Talk
For the last couple of days I’ve been working with a fabulous military couple who will be relocating to the West Bank as a result of an assignment to NAS JRB New Orleans. Their home in another state is currently on the market for sale, so they know what it’s like to be the seller.
- They know that sometimes appointments aren’t at the most convenient time and they may have to leave their house when they would normally be having dinner
- They know that it’s a pain to be sure the beds are made and no dishes are in the sink every time they walk out the front door
- They know that buyers are not as plentiful as they were a few years ago
- They know that they are facing tough competition from the other homes in their area and price range
Imagine their disappointment when we couldn’t see a home they were very interested in this week because the sellers would not allow any appointments to be made while they had out of town company.
Now, I understand that they are in the middle of entertaining guests, which is stressful enough. Making sure everyone is fed, feels comfortable in your home, has a place to sleep and planning any tourist activities is hard work. I understand that they would rather put aside the fact that their home is on the market this week.
But, what if this is THE ONE? What if this is the perfect family for their home? What if, when they are ready to 
make appointments again, the buyers have already made an offer on another house? Are they willing to take that chance when turning down a showing request? Apparently so, because we tried again today to schedule a showing - sorry, no appointments until Thursday.
Gee, that’s too bad, because on Thursday my buyers will be headed out of state with a contract on another house.
For professional West Bank Real Estate advice and services, contact Lisa Heindel.
Algiers Youth on a Mission
July 19, 2008 by lisa
Filed under Around Town, Blog
The Aurora Methodist Church in Algiers has been hosting volunteer mission groups since right after Hurricane Katrina. Hundreds of adults and youth have made the church their home for a few nights or even a few weeks while they have helped in the clean up and recovery efforts of the city.
Today, the youth and counselors of Aurora Methodist packed up and headed out to Atlanta for their own mission trip to assist in cleaning, painting and repairing two homes for elderly Georgia residents. This is how you change the world…
The little guy in the middle is mine and is making his first mission trip.
Wishing all of them a safe journey….
What is a Real Estate Absorption Rate?
July 18, 2008 by lisa
Filed under Blog, Real Estate FAQ, Real Estate Talk
Frequently Asked Real Estate Questions and Answers from Your New Orleans West Bank Real Estate Specialist
Real estate, like any other industry, has its share of jargon and acronyms that make perfect sense to those in the business, but may not be quite so crystal clear to everyone else. I was asked this week to explain what an absorption rate is, so I figured I would share it with all of my readers.
From realestatewords.com:
An estimate of the amount of sales or occupancy that can be anticipated over a determined period.
Absorption rates are not static numbers. Instead, they change, sometimes every day, as homes are put on the market for sale and as homes are sold or withdrawn from the market. The absorption rate at any given time is just an overview or snapshot of the current real estate market.
Absorption Rate Examples
In June 2008 there were 9 homes sold in Belle Chasse LA. At the end of June there were 67 active listings on the market. Assuming that 9 homes will continue to sell each month, Belle Chasse has a current absorption rate of 7.4 months (67 divided by 9). This rate will vary depending on how many new listings come on the market and if the current rate of sales is steady.
If the number of listings increases but the rate of sales does not, then the absorption rate will also increase. Continuing the last example, if in July 77 homes are now on the market and 9 are still selling each month, the absorption rate increases to 8.6 months (77 divided by 9).
Why is an absorption rate important to home sellers?
Changes in the absorption rate indicate shifts in your local real estate market and are an important tool to use when pricing your home. If absorption rates have been climbing in your neighborhood, it is an indicator that there are not enough buyers for the area and your pricing should be more aggressive. Just like a sponge, there is a point when the market becomes saturated and can’t support any more listings. When this happens, homes will linger on the market and take much longer to sell.
How do the absorption rates affect you?
There really are no “good” or “bad” rates, because each has a benefit to someone, whether a buyer or a seller.
- A balanced real estate market has around a 5-6 month absorption rate
- A seller’s market has a less than 5 month absorption rate
- A buyer’s market has a greater than 6 month absorption rate
For a current absorption rate report for your New Orleans West Bank neighborhood, feel free to contact Lisa Heindel. I’d be happy to prepare a free, up to date analysis of the market trends in your area.
West Bank Weekend Events: July 18-20,2008
July 17, 2008 by lisa
Filed under Around Town, Blog, Family Fun
Have you planned your weekend yet? Here are some cool events happening around town.
Summer Reading Bugmobile
Continuing to encourage kids to read all year round, the Summer Reading Bugmobile will be at the children’s wing of the West Bank Regional Library in Harvey, LA on Friday at 10:30 am. Space is limited, so get your tickets right away or call the library at 364-2660 for more information.
Gretna Farmer’s Market
Saturday, 8:30 am to 12:30 pm, featuring local produce, art, music and more. Under the Gretna Market on Huey P. Long Avenue, between 3rd and 4th Streets in Gretna, LA.
Westwego Performing Arts Theatre
The talented kids taking part in the Jefferson Performing Arts Society’s West Bank summer camp will be performing the summer musical "Once Upon A Mattress" on Thursday, Friday, Saturday and Sunday at the Westwego Performing Arts Theatre, 177 Sala Avenue in Westwego, LA. Visit the JPAS website for more information and tickets.
Beyond The West Bank
The Stars and Stripes Summer continues at the National WWII Museum. The whole family is invited to attend the museum, learn more about WWII and D-Day and kick up their heels with the Palmetto Bug Stompers from 2-4 pm. Swing dance lessons will be held from 1-2 pm so you can learn how to strut your stuff! Discounted admission for Louisiana residents.
Upcoming West Bank Events
Cooking Demonstration
As part of the continuing chef series, Mount Olivet church (530 Pelican Ave. in Algiers Point) will host Chef Ed Moise of Aunt Leni’s Cafe on Tuesday, July 22nd at 6 pm. It’s a hands on series, with the Chef demonstrating, teaching and providing recipes. The $35 per person cost includes drinks and dining on the great meal the Chef and attendees have prepared.
The Wednesdays on the Point concert series continues for the next few weeks, from 5:30 to 7:30 each Wednesday in Algiers Point. Upcoming scheduled performances are:
- 7/23: Amanda Walker & Jimmy Robinson at Dry Dock Cafe, 133 Delaronde
- 7/30: Ernie Vincent & Marc Stone at Crown and Anchor Pub, 200 Pelican
- 8/06: David & Roselyn at Gulf Pizza, 446 Pelican
- 8/13: Paul Sanchez & Friends at Old Point Bar, 545 Patterson
25th Annual National Night Out Against Crime
August 5th all around the West Bank. The Night Out Against Crime is a chance for neighbors to gather together in support of fighting crime in their area and send a message to criminals that they are not welcome in the neighborhood. Some West Bank communities hold block parties, complete with DJ and dancing in the streets, while others are a little more laid back with a gathering in a centrally located front yard or garage. What is your neighborhood planning for this year? To register your event or for more ideas, visit the National Night Out Against Crime website.
Make it a great West Bank weekend!
Welcome to Belle Chasse
Just south of Algiers and Gretna on the New Orleans West Bank lies Belle Chasse, LA (French for"beautiful hunting") . Belle Chasse has long been a tight knit community with a great history of hunters and fisherman among its residents, in addition to some of the best citrus orchards in the southeast. If you’ve never had a satsuma, you don’t know what you are missing! The Plaquemines Parish Fair and Orange Festival is one of the most anticipated events each December in Belle Chasse.
Located in Plaquemines Parish, Belle Chasse has been home to the Naval Air Station, Joint Reserve Base New Orleans (the former Alvin Callender Field) since 1957 and houses many military families during their stay in the New Orleans area.
Belle Chasse is a high demand area of the West Bank, in large part due to the excellent public school system in the community. This demand has pushed the average housing price to one of the highest of the West Bank communities. Exclusive neighborhoods such as Springwood Estates and Pleasant Ridge Estates have sprung up in recent years to meet the growing demand for housing in the area.
Helpful links:
Official Plaquemines Parish Website
