Archive for May, 2008
Cotton Mill Condos-New Orleans Warehouse District Condos-Sales Pick up?
May 27th, 2008 categories: New Orleans Condo Reviews
I have sold a lot of condos in The Cotton Mill Condos in the New Orleans Warehouse District. Sales seemed to be stagnant for the last 2-3 months. In the last 3 weeks a lot of the units have sold. From first hand experience we have sold 4 condos in the last 10 days. Lost one in a bidding war that had been on the market for at least 6 months.
You have several that will not sell at their current prices but the ones that were well priced and updated have been moving briskly. You can call this a selling streak as real estate is still very seasonal in nature. All of a sudden people are there to purchase!!!
Of the 29 units for sale this month , 14 units are under contract that I know about today. There are several good units still for sale out of the 15 units left. 7-8 of those units are just too expensive or just are not nice.
The two bedrooms have been hot of late all over the Warehouse District and the same thing has been happening in the Cotton Mills as the prices of the one and two bedrooms have come closer together. You can get a two bedroom in the 220’s to 230’s range. The larger one bedrooms in the two hundred thousand range and below.
There are seasonal reasons for this as this is when people tend to move. This is a favorite place for young professionals starting their career. Its a great place for medical students and residents form Tulane, LSU and Ochsner. It is also because the place to rent are not easy to find and many who may rent end up buying due to the cost and shortage of nice rentals at the lower end. The second home market has also been picking up as people are choosing the Warehouse as a destination.
The Cotton Mills Conodos remains one of the better values. It has the courtyard, pool, security, high ceilings, large windows, wood floors and the condo fees are moderate for the the services.
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New Orleans French Quarter Condos, 1228 Royal Street-Weekend Retreat.
May 25th, 2008 categories: French Quarter
The sales and interest in the French Quarter have begun to pick up in the last 8-10 weeks. The better units are beginning to sell. There has been a lull in sales since Katrina as many of the condos are used for second homes and weekend retreats for the locals. Now people are looking again as the prices have moderated.
The Condo unit #7 we just listed is one that is priced right and ready to be sold. There are 6 units under 200k with a minimum of 500 sq. ft., getting below this number you are getting a motel room sized unit. None are on one of the Quarters most famous streets as is this one. Everyone knows you will not buy the first one you see but this one should be seen and shown. It may fit your needs!
The 1228 Royal Street Condo Unit #7 is a ground floor unit down a historic alley on the first floor of this French Quarter Condo. You expect to pay much more for balcony units. You are on the quiet end of the street but a very short walk to all that the Quarter has to offer in terms of history, eating and drinking. This is a condo association that has a nice courtyard with pool and laundry facilities. Having a pool is not the norm.
Having a pool to take a dip after a morning walk would be great. Enjoy your time in New Orleans by parking your car and walking for however long you may want to stay and sweat this time of year.
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Warehouse District Condos, Fulton Street Developes into a destination?
May 22nd, 2008 categories: Warehouse District
Fulton Street in the New Orleans Warehouse District is developing a destination of its own. As more people are living and visiting the Warehouse District and Harrah’s Casino the area is going to develop further. The area is growing because the demand is there from the local residents and the many tourist that visit the area. There are several new additions to the area. Ruth’s Chris Steak House recently announced its presence in Harrah’s Hotel. Most of the locals know Ruth’s Chris started in New Orleans.
“The announcement comes just a few months after the official opening of the Fulton Street Mall, which is situated between the new Harrah’s Hotel and Gordon Birsch, a popular micro-brewery specializing in exotic-flavored beers and fine dining. The one-block-long mall has been closed to vehicular traffic and is fast emerging as a popular destination for casual strollers in the downtown area.”
”Already open along the mall, in addition to Harrah’s Hotel and Gordon Birsch, are 528, an upscale music club featuring popular local musicians, and Riché, Chef Todd English’s latest restaurant. The mall offers numerous chairs and tables for those who like to dine and drink outdoors and fine artwork, including a series of bronze sculptures of old-time jazz musicians.”
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New Orleans Condos, Perfect for students, persons getting started or a weekend retreat! Has all the Pluses!
May 20th, 2008 categories: Condo Listings, Uptown NOLA
Every once in a while you list an Uptown New Orleans condo that will fit several clients needs. The 4239 St. Charles Ave Condos or the Hawthorne Condos has a lot of positive things that people are looking for. This is the case of a new listing that I just got at 4239 St. Charles Ave near Napoleon Ave. The building is about 80 years old and is a medium size condo association.
Its on the Mardi Gras parade route, the street car route and halfway between Tulane, Loyola and downtown New Orleans. Its priced to sell. The only negative is that the kitchen and applicances need updating. Its $185,239, its my price so I believe its right on the money. See more photos on my website. 4239 St. Charles Ave. The Hawthorne Condos.
This unit would make a great home for a college student. A nice condo for a resident or medical student at Tulane or LSU. Great second home in New Orleans. Good place to get started for people needing a one bedroom in Uptown.
These are a couple of things that people look for in a condo in this area of town and it meets the criteria for many clients. Having these helps keep the value in the New Orleans market.
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Its got historic charm and value, 80 years old.
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Great Location on St. Charles Ave. Street car line. Close to local Colleges
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Garage parking in a secure area and secure entrance.
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Third floor unit with fine Street Views.
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Plenty of windows and natural light.
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Hardwood floors and higher ceilings.
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Not easy to find this combination.
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Washer and dryer in Kitchen Plus heavy duty ones in the Basement
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Storage area and closet space for bikes and such in basement.
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Whatever you add or update with reason you get your money back.
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One River Place Condos, New Orleans Warehouse District Luxury Condos
May 18th, 2008 categories: New Orleans Condo Reviews, Warehouse District
The One River Place Condos at 3 Poydras Street are one of the few high rise condos in the New Orleans market that takes advantage of the Mississippi River Views. The luxury condos have been around for a while and many of the units have been updated over the last 20 years . The 14 stories features 81 units of varying sizes and views. The first 3-4 stories are parking and a luxury lobby and common areas.
The higher price units are those facing the Mississippi River and have balconies overlooking the River. These were built before the Warehouse District was named. The river views are the more expensive units with those with no river views being the cheapest.
Amenities include valet parking and in house security personnel. The pool and patio over looking the Mississippi River are second to none. There is a fitness and exercise center. There are some great common areas that are often used for entertainment and parties. You have access to the Hilton Hotel where there are 8-10 indoor tennis courts and a full service work area and gym. The fees are reasonable for the gym in the Hilton.
The condo fees are high but so are the services at One River Place. The building is very secure, well managed, and always has security on duty.
You can see the Mississippi River Bridge in the background. Many of the 20 year old units have been upgraded over the years and have some fantastic renovated units. Two of our local sports stars live here. Reggie Bush with the New Orleans Saints and Chris Paul with the New Orleans Hornets.
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State Bond Money Update, You can use this for New Orleans Condos!
May 17th, 2008 categories: Julie's Mortgage Tips
State Bond has officially run out of money, but we are putting our clients on the waiting list. Sometimes leftover bond issues are lumped together and are given to the clients that are on the waiting list. Recently I had a client who was number 18 on the waiting list and within 4 days he received confirmation of the bond assistance.
Julie Baudier Baudier & Grace Mortgage 504-583-1793
The bond money has a limit for income and a limit on the price of the sales price. This has helped many of my clients make the move more affordable. The 4% feature has been the favorite. The bond money can be used for closing expenses and the rest can go towards the down payment. On a $200,000 condo this means $8,000 and its at a competitive rates. The rates are set when the bonds are priced so it will not vary as long as the bond issue is available. There is usually a special deal for teachers as well.
There is Louisiana State bond money, and Jefferson Parish Bond money. Once in a while Orleans Parish will have one and none will know about it. This is another reason to start your loan process in advance of looking for that New Orleans Condos. Buying can be stressful enough so get a good lender like Julie and get started. This is well worth checking out. The Bond money and the free tuition for good students at state colleges are two things that many states do not have. It pays to be a good student and have a good credit score.
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New Orleans Condos and High energy prices, Postive effects! How do you view it?
May 15th, 2008 categories: Market Trends
With ever rising energy prices New Orleans condos offer a unique chance to save money and energy. This is especially true of the New Orleans Metro area which is compact and very compact in the Warehouse District, Uptown and French Quarter. You can walk many places and do not have to drive very much at all.
The New Orleans public transportation like the street cars run on electricity are easy to use and a delight to ride. The savings here is not just on gas but time as well. “time is money rings true” Many clients look at condos to save on commute times.
Most condos are smaller than homes by their nature and thus are efficient. The nature of condos being much like a honey-cone effect. This is a natural insulator. The think walls of many warehouse units also have to help in keeping the units cool. Using a heater more than 15 days per year is unusual in New Orleans. Many of the units that I sell were built before air conditioning where high ceiling, fans, and windows were the norm.
You buy less since you have less storage area. You walk more helping your heart and your pocket book. Maybe we could spend more on sidewalks and bike paths and less on roads. Maybe not, as New Orleans is noted for its forgotten roads. Repairs every 100 years does not cut it in today’s world. We have a lot of bad drivers that would also be safer walking.
Condos use less land leaving more room for many to enjoy the public areas. New Orleans is more of a European style city with neighborhood shopping and neighborhood services. The reason its part culture and part geography. When you are surrounded by water its tough to spread out. Common areas can be made better and enjoyed by all. Audubon Park is just such a place in the middle of the city. Just some ideas and thoughts.
These factors are especially appealing to second homers who love not using their cars when they come to visit. New Orleans looks like it could become a green city with a little push here are there.
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French Quarter Real Estate, The area is unique and has character very seldom matched! One Spring day.
May 11th, 2008 categories: French Quarter
The New Orleans French Quarter is never at a loss for unique photos and historic homes. This French Quarter double shotgun home was one we passed last week going to a listing appointment. The house itself was unique but the hanging baskets and flowers blooming in the late afternoon sun defined curb appeal. It takes a lot of time, effort, and love to maintain these homes and then decorate them with seasonal flowers for all of us to enjoy. You can enjoy them with me.
Need to thank Lana Sackett the co-lister on the property we were visiting for letting me take these photo detours for which I am famous. But I am also known for finding a good parking spot so things even out. New Orleans is a great walking city in the cool months of march, April and May before the Summer heat and humidity arrive on schedule in June.
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Metairie Condos, the Metro View Condos is best bet for one bedroom condos in Metaire!
May 11th, 2008 categories: Jefferson Parish, New Orleans Condo Reviews
The Metro View Condos located at 3805 Houma Blvd in Metairie are new conversions which offer some nice choices in the 120’s range. It has a very nice location in the heart of Metairie, several blocks from Veterans and a couple of blocks from East Jefferson Hospital placing it across the street from the East Jefferson Wellness Center. Plus, there is easy access to I-10 and Lakeside Shopping Center. There is are a total of 199 condo units consisting of mainly one and two bedroom units.
All the units have been redone and they are basically new units. You get almost 800 sq. ft. of living with a large 22×12 den, small patio and large 16×12 bedroom. The kitchen is new and comes with all new stainless steal appliances and granite countertops. The bathrooms are also new and have new plumbing fixtures. There is a small washer and dryer in the master closet. There are larger washers and dryers on premises for the large loads.
The amenities include a fitness center and two outdoor pool. There is plenty of parking near your unit and the spaces are assigned. Some of the larger units have storage sheds. Many of the one bedrooms are on the ground floor for easy entrance and exit.
There are less than 30 0f my favorite style left which is the one bedroom flats. I like these for the large floor plan and resale value. Once the developer has finished his sales these stand a good chance of appreciation in value over the next couple of years. its get down to location and size for future value. Low condo fees are also a big plus. The condo fees cover water, Insurance, upkeep and common areas for about $150 for the one bedrooms.
In my opinion these are the best buys for a one bedroom in Jefferson Parish.
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625 St. Charles Ave., New Orleans Luxury Condos in the Warehouse District.
May 8th, 2008 categories: New Orleans Condo Reviews, Warehouse District
The 625 St. Charles Ave Condos are Luxury Units in the New Orleans Warehouse District. The condos are 7 years old and were built as condos. The 11 story building is in a fantastic location on St. Charles Ave across from Lafayette Square in downtown New Orleans. The 39 units are at least all two bed room plus and two bath starting at about 1300 sq. ft going up to about 3000 sq. ft. units for the four Pent House Condos.
The building on the far right is Gallier Hall and the bleachers in the foreground were getting ready for the Mardi Gras parades to roll this past season. The streetcars roll by your front door and you can walk to many a high class meal from this location. Its an easy walk to the Louisiana Super Dome, New Orleans Arena, Federal Courts and the French Quarter.
The 625 St. Charles Ave. Condos features include 2 parking spots in the garage for each unit. The security is 24 hours and very secure. There is an indoor lap pool and fitness room. There is a common area conference room, catering kitchen and reception area on the second floor. Most of the units are custom built outs by the owners so very few or none are going to look the same.
There are currently 5 units for sale ranging in price from $635,000 to 1.9 million. All the units have been listed in the last 60 days. The complex has have 6 sales since 2006 as the condos tend to have long term owners and some been forced to move due to Katrina. The views are going to vary by the story and the direction of the units.
The units generally start in the upper five hundred range up to million plus for the large pent house units. I have seen a couple that I have really liked and some that had no appeal at all. It all depends upon how the units were finished off by the original owners. Read the rest of this entry »
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