This week, we were asked about foreclosures in the English Turn subdivision in Algiers. As one of the most upscale communities on the West Bank of New Orleans, English Turn is not what typically comes to mind when you mention the word foreclosure.
That said, foreclosures and economic downturns can hit every segment of the population, and having once had the ability to live in a high end neighborhood doesn’t mean that will always be the case.
Of the 26 homes currently listed for sale in English Turn, none of them are bank owned or foreclosures. Of the 20 homes that have sold in the neighborhood this year, only 1 was a foreclosed property.
This puts English Turn at the top of the heap in avoiding the downward pricing pressure that bank owned homes can have on a real estate market.