Real Estate News

Elmwood Oaks Condos in Harahan

 

    The Elmwood Oaks condos were built as condos almost 30 years ago. They are a short walk to all the retail and eating places on Clearview Parkway and retailers in Elmwood Shopping Center. The condos are an easy commute via Jefferson Highway or River Road. Jump on a Earhart Express for an easy commute downtown.

 

The Bakery Condos located at 1111 S. Peters in the Warehouse District of New Orleans was once a Holsum  Bakery.  It was turned into apartments and then into condos about 10 years ago.  You can still see the ovens in many of the units.

 

Since a condo association acts as a group when it comes to collecting condo fees in order to pay bills such as water, sewerage, upkeep, management, insurance and those collective payments.  Most condo association collect more that is needed in the day-to-day operations so the association will have money when something unexpected happens.  If your condo fees are $350 per month may go into a reserve account.  This account builds money over time.

 

      Bayou St. John is a photo opportunity everyday.  The Bayou runs almost to the center of town to Lake Pontchartrain.  This is in Mid-City near City Park.  

     Jefferson Davis died here in 1889 in the New Orleans Garden District…This is a little known fact that stumbled across while walking through the Garden District.

    The Henry Buckner House was a recent Star of Series, American Horror Story, Coven.  It was once Soule Business from 1923 to the 1970′s.  Completed in 1856 for Henry Buckner who made his fortune on “King Cotton”.

 

Such a variety of homes.  Different styles and colors abound on the Avenue.  Hard to believe that there are hundreds of elegant homes that are well kept over time.

What will the NOLA Condo Market be like in 3 to 4 years ?

 

      The number one question that I am asked is what is covered in your condo Dues and how are they figured out….Let me answer those questions for the New Orleans Condo Market….

     The New Orleans Condo Market is very strong and would be even stronger if there were a larger supply of condos to sell.  I see this in all areas of New Orleans where people are looking for condos.  The homes are selling quickly and are rising in price, and condos are following in their footsteps.  This is not the case in the Jefferson Parish Market where sales are still slow and prices are not rising.

New is famous for its Music, Historic Homes and New Orleans Ladies. So why not put them all togeather.  Little long but it was a first time shot at music and slide show….

 

 

 

 

When most people begin their New Orleans search they have an fairly good  idea of what they will like or dislike.  For the second home buyer they will generally say give me the historic look first.  Buyers looking for a condo as a primary residence may still want the same things but is willing at all options that are availaible.

     The New Orleans Warehouse District has few condos for sale.  It is really strange that there are only 12 active listing in the area. There are 7 units below 400k for sale and 5 condos above the 400k range.  Out of the 12 condos for sale, I know at least half of them are just asking too much.  Prices were up an easy 10% in 2013 but some are easily 20% overpriced.

      In the last 5 years the majority of my sales came form condo sales in the Warehouse District.  Now  we have to work other areas that offer more properties at more reasonable prices.