Belle Chasse, LA: May 2008 Real Estate Absorption Report
May 16, 2008 by lisa
Filed under Belle Chasse, Blog, Market Updates
The overall supply of homes for sale in Belle Chasse, LA has increased slightly from the 10.2 months observed in April to the current 10.7 month supply. Keep in mind that a balanced real estate market has a 5-6 month supply of homes for sale…more than that indicates a buyers market for the area.
Belle Chasse homes priced in the under $200,000 range are selling very well and sellers in this price range are almost guaranteed a sale within a relatively short period of time. The $225,000-$250,000 range improved since April, cutting the supply of homes almost in half. The number of homes listed for sale has remained steady with 3 fewer listings than we saw at this time last month.
The $250,000-$300,000 range is moving slowly, as are homes priced above $350,000 (no sales in the last 90 days). The high cost of insurance in Plaquemines Parish continues to be an issue for home buyers, especially first time buyers, oftentimes increasing their mortgage payments dramatically and causing them to look to other parts of the West Bank for homes. If you are a seller on the upper end of the Belle Chasse housing market, be sure to keep your home in “show ready” condition - don’t give those rare buyers a reason to move on to another home.
Belle Chasse, LA 70037
Data provided by Latter & Blum REALTORS® and is deemed reliable, but not guaranteed.
Remember, this report is for the entire zip code 70037. If you would like a personalized report for your home and neighborhood, please contact Lisa Heindel, REALTOR®. I’d be happy to help keep you up to date with your piece of the Belle Chasse real estate market.
Related Reading:
Belle Chasse, LA: April 2008 Home Sales and Real Estate Market Report
Make Your Home the Star of the Neighborhood - Stage It!
5 Steps to Choosing Your New Orleans West Bank Real Estate Agent
Here’s the disclaimer part: The opinions expressed here are strictly those of the author, but you are free to share yours in the comments. All information is deemed reliable but not guaranteed,
Copyright 2008. Lisa Heindel, All rights reserved.
Pleasant Ridge Estates: West Bank Neighborhood of the Week
Just a few miles away from the hustle and bustle of the city of New Orleans, on the West Bank of the Mississippi River, Pleasant Ridge Estates is an exclusive, gated community in Belle Chasse, LA.
Developed in 1996, Pleasant Ridge Estates offers upscale, custom homes for discriminating buyers in a secure area with state of the art video camera surveillance that is owner accessible online. Along with a prime location in Plaquemines Parish, Pleasant Ridge Estates home owners have access to the highly sought after Belle Chasse public schools system.
The Pleasant Ridge Estates Home Owner’s Association is the sponsor of varied neighborhood activities such as:
- Garden of the Month awards
- Annual Christmas decorating contest
- Annual Night Out Against Crime
- Annual Easter festivities
Recent Sales in Pleasant Ridge Estates
Sales are few and far between in Pleasant Ridge Estates. In the last year there have been only 2 sales in the community. A home on Primrose Drive sold for $490,000 in January 2008 and a home on Pleasant Ridge Drive sold for $552,500 in November 2007.
Buyer Opportunities in Pleasant Ridge Estates
Resale homes - It comes down to three. There are 3 exclusive homes 
available for sale in Pleasant Ridge Estates at this time, priced from $425,000 to $799,999. These custom built homes all have 4 bedrooms and 3 1/2 to 4 1/2 baths with sizes ranging from 2,800 square feet of living area to over 3,900 square feet.
Vacant land - With 2 lots available for sale, there are still opportunities to build your dream home in Pleasant Ridge Estates. Lots are priced from $138,900 to $150,000 and subdivision covenants and restrictions will apply to any new construction.
Interested in buying or selling?
For more information on living in Pleasant Ridge Estates, for a private tour of available homes, or for a free market analysis of your Pleasant Ridge Estates home, please contact Lisa Heindel, REALTOR® by phone at (504) 616-6262 or by email at lisa@lisaheindelsells.com. I’ll be happy to introduce you to this beautiful West Bank community.
When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyer, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.
- West Bank Homes for Sale – Find a home for sale on the West Bank or other New Orleans metropolitan area.
- Contact Lisa Heindel for help buying or selling your New Orleans area home
- Free online home evaluation of your New Orleans West Bank home
Copyright 2008. Lisa Heindel, All rights reserved.
Belle Chasse, LA: What’s Selling in Belle Chasse
January 7, 2008 by lisa
Filed under Belle Chasse, Blog, Market Updates
I recently posted the 2006 and 2007 home sales information for Belle Chasse, LA here:
Belle Chasse LA: 2007 Home Sales Market Report
An overview of the Belle Chasse home sale market is a helpful tool, but I like to go a little deeper and take a look at the individual price ranges and how they are performing. This opens a window into the recent activity by home 
buyers in the area, a chance to see what they are looking for.
A review of the absorption report for Belle Chasse, LA shows that there is an overall 14.4 month supply of homes for sale. A healthy real estate market has, on average, about a 5 to 6 month supply of homes for sale. Belle Chasse currently has more than a year’s worth of inventory, if no more homes are placed on the market (which we know is not realistic). In the over $250,000 price range, only 2 sales have been closed in the last 3 months. Unless buying rates increase, sellers are in for the long haul when marketing their Belle Chasse property for sale. This is not meant to be doom and gloom, but home buyers and sellers need to be aware of the realities of today’s market.
What does this mean for Belle Chasse home sellers?
In order to grab the attention of the buyers that are looking in your market, it is critical that your home is priced right and shows well. As you can see from the chart below, there is a lot of competition for those buyers, and they will simply move on from an overpriced home rather than trying to haggle with a seller who is holding out for a higher price. With only 4.3 homes per month selling, what are you doing to make yours stand out?
What does this mean for Belle Chasse home buyers?
You have the greatest number of choices in homes for sale right now, in a wide variety of price ranges. While sellers may be flexible in prices and terms, they will not entertain offers from buyers who have not taken the time to visit their mortgage lender to get pre-approved. The first step in your home buying process is to meet with a reputable (and preferably local) lender who can explain all of your financing options and help you narrow down your price range to one that you are comfortable with.
Belle Chasse, LA Home Sales in Zip Code 70037
(as of 1/5/2008)
Reports like the one above can also be prepared for individual neighborhoods. If you would like more information on buying or selling a home in Belle Chasse, please contact Lisa Heindel, REALTOR®. I would be happy to prepare a personalized report for you or provide you more in depth information on the market in your neighborhood.
Copyright 2008. Lisa Heindel, All rights reserved.
Belle Chasse LA Real Estate Market Report - November 2007
November 30, 2007 by lisa
Filed under Belle Chasse, Blog, Market Updates
Belle Chasse Louisiana Real Estate Market as of 11/29/2007
As 2007 winds down, I have spent some time researching and analyzing sales trends for the last 15 years on the West Bank.
Here are the current real estate market conditions for Belle Chasse, Louisiana:
Single family home sales in Belle Chasse have dropped dramatically from 135 homes sold in 2006 to 68 homes sold so far in 2007, a decrease of over 49%. While 2006 was a banner year for home sales and would be hard to match, this is the lowest number of homes sold in Belle Chasse since 1998.
What do decreasing home sales mean? Lower numbers of home sales result in a longer marketing time for properties for sale and downward pressure on home prices. While the average home price in Belle Chasse has continued to rise (see chart below) the number of people investing in Belle Chasse real estate continues to drop each month. Proper pricing is crucial in the current market to make your home stand out above the competition.
The average home price in Belle Chasse has continued upward, from the 2006 average of $277,226 to the current 2007 average of $294,466, an increase of more than 6%. As the number of sales continues to decrease, prices will more than likely follow.
Tightened mortgage lending guidelines and increased insurance costs are making it more difficult for borrowers to qualify at the same levels as in years past. Home sellers in Belle Chasse should keep a close eye on the absorption rates to be sure that their homes are priced to sell, rather than priced to sit.
Buyers have an amazing amount of choices in today’s market and are quickly moving on from overpriced listings and purchasing homes where the seller is flexible on pricing and/or willing to provide assistance with closing costs and insurance premiums.
An experienced selling agent will not only educate you about average sales prices, they will also provide you with an adjusted sales price based on seller paid concessions such as closing cost assistance or repair allowances as part of the market analysis on your home.
If you have any questions about the information contained in these reports or would like a more in depth analysis of your particular neighborhood, please contact Lisa Heindel, Realtor®.
Copyright 2007. Lisa Heindel, All rights reserved.
Belle Chasse Homes for Sale - Absorption Report, November 2007
November 24, 2007 by lisa
Filed under Belle Chasse, Blog, Market Updates
An absorption report is a tool used to determine trends in your real estate market.
- How many homes are for sale in the area? Note: Homes listed with an agent only - For Sale by Owners are not included in these reports.
- How long is it taking them to sell?
- How many have sold in the last 90 days?
- What price ranges are selling fastest?
It is basically a bird’s eye view of the supply and demand in your real estate market and is a way to do a spot check of current market conditions. Remember, an absorption report is only a snapshot of the current market and the percentages change each time a new listing comes on the market or an existing listing sells.
Belle Chasse - Zip code 70037
(as of 11/24/2007)
As always, price is key to getting your home sold quickly. A poor location or less than perfect condition can be overcome with the appropriate price. Resist the temptation to price it high and wait for offers!
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