Archive for the 'French Quarter' Category
French Quarter Condo Trends for May, 2009! What are the numbers saying?
May 3rd, 2009 categories: French Quarter
Most of the real estate sold in the New Orleans French Quarter are condos. At the present time there are 156 units for sale with only 9 under contract. These are not good numbers if you are a seller. There have been 28 sales during the last six months or about 5 units being sold per month. This is coming out of a very slow period. Real Estate is seasonal and many of the condos sold are to second home people from nearby states.
The square foot prices in the French Quarter are all over the place as to the quality and location of the units vary a lot. The French Quarter has always been more expensive than the Uptown and Warehouse District. The Uptown and Warehouse District locations were not competition for French Quarter condos as much in the past but they are now.
You wonder why the trend to fewer sales. One of the reason is that people have other areas to chose from that are competitive for what you get. There are fewer and fewer locals looking to buy as they tend to look in other locations. The prices for property went up way too fast from 2000-2005. Now you have the nicer properties in other areas at cheaper prices. Many people are still looking in the French Quarter but are buying in as great numbers.
I find the weakest segment of the market are the very small units that are under 500 sq. ft. that are not in great shape. The best segment is the two bedroom and two bath units with good locations.
This means if you are a buyer you will begin to see the prices trend downward on the not so premium properties. Those that are very small, those that need updating and those in the poorer locations. There will be sellers that just want to sell and get their profit out of the second home and invest in something else. Some motivated sellers will have very fair prices and they will price their French Quarter condos accordingly.
This means its still a buyers market with great interest rates and motivated sellers. Many people just want the French Quarter so now that its a buyers market its time to starting looking. That good deal may be around the corner. This is what I a thinking. You may have some other comments and that would be great!
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Window Shopping in the New Orleans French Quarter! Just imagine what you could buy? Looking is Free.
March 28th, 2009 categories: French Quarter
The New Orleans French Quarter is what the early malls in cities must have looked like. In New Orleans many things never change and they become popular again because no one else has them any longer. Disney World kinda of copied this format, but here its for real with all its faults and positives.
The majority of shops and window shopping are on Royal Street but others are popping up elsewhere as well. Its easy to spend a morning just looking in the windows and the other half of the day looking at people who are looking themselves. The cool thing is that many of the shops are unique to only New Orleans and are far from the cookie cutter malls of today.
Just a glimpse of the day from the Quarter windows. This is just one of the many things people can do in a small geographic area called the French Quarter of New Orleans.
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Historic French Quarter Condo, Details and Origional items are impressive!
March 9th, 2009 categories: Condo Listings, French Quarter
Its not often that you see a condo renovation that keeps many of the historical features and integrates the updates that everyone likes and enjoys into the plan. This 1830’s building with 5 condo units is one of those developments. It has many of the ingredients that people look for in this two bedroom condo. The price of $219,528 what sets this unit apart from many condos in the French Quarter and the Warehouse District.
The features include high ceilings, lots of windows, long exterior balcony, 3 sets of french doors, lots of windows, wood plank floors, exposed brick the length of the condo, cypress woodwork, old fireplaces. Its a second floor unit with a lot of privacy. Feel like you have gone back in history.
At the same time you have an open floor plan and new kitchen. The kitchen features granite countertops, stainless steel appliances, lots of cypress cabinets, and recessed lights. This condo is great for entertaining.
The second bedroom is great for guests. There is no parking with the unit but you are in the residential area of the French Quarter where parking is accessible. This is most likely one of the oldest buildings that I have listed. The condo was developed in 2004 so much is new and everything has been updated. Your view from the balcony that extends the length of the condo.
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New Orleans French Quarter Sunrise, Wake Up New Orleans !
December 20th, 2008 categories: French Quarter
Sunrise in the New Orleans French Quarter is fairly quiet. You can get some photos since no one is around but it lasts only so long then you have to eat breakfast. Always great to get another view since most will sleep through it.
There is always something to do in New Orleans and that is why its a great destination city for people all over the world. That is why the French Quarter, Warehouse District and Uptown New Orleans are becoming a second home choice for many. Enjoy the Holidays and 2009 will be a better year.
See the latest French Quarter Condos Updates for status of condos under 200k. Many people do not know that the Warehouse District is steps away and the prices drop fairly dramatically. The Warehouse District Condos, Buyer Market will give you some additional insight into the market.
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French Quarter Market Update! Condos under 200k, yes there are some nice ones!
December 11th, 2008 categories: French Quarter, Market Trends
The New Orleans French Quarter is alive and well. The under 200k condo market is always a small segment of the French Quarter condo market in a couple of ways. The units are very small and many are studios at this price with many under 400 sq. ft. There are currently 36 units for sale in the Quarter under 200k with only four under contract. They are also going to be in varying conditions of not being updated. But some are updated !
With this said there are a number of neat units that would be used as second homes and weekend retreats. There will be no parking with these units and not many will have balconies. Its a buyers market in this segment much more than the higher end units. There is plenty of competition from the Warehouse District which is across Canal Street where the same price units are larger, cheaper, and more updated. They are however not in the Quarter where many people still want to be. Real Estate is still a lot about location, location and location.
I have seen a number of nice unit in the 160-180k price range that anyone would be happy with as a retreat home. I like these since they are larger, have plenty of light and offer some amenities as a courtyard. There are 5-6 that are very nice in either great locations or have that historical feel.
There are not a lot of buyers at this time. Rates are very low and sellers may be willing to part with the units for some good prices for a variety of reasons. Rates hit 5% today which is $538 per 100k that you borrow. Get the seasonal discount from the seller and the lowest rates of the century. The lowest of the Century is correct.
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New Orleans French Quarter, Bright Historic Shotgun Faces! Where ya at?
November 27th, 2008 categories: French Quarter, Historic Homes
Happy Thanksgiving! Hope everyone is full of turkey and had a good time with family and friends today. You always eat too much! That is easy to do in New Orleans. Just wanted to share some of my recent photos using www.picnik.com to do some fun things. The initial version is free and only $25 for the fancy version. I use it weekly so its a good buy.
The New Orleans French Quarter has been here since 1718 but these shot guns came much later and were not mansions. Just wanted to call to the attention of detail with the Victorian gingerbread work that became popular from 1830 to 1910. The owners of these shotguns could dress them up with the style of the day which was Victorian Gingerbread work. They could also be very creative with the colors not of American but those of the West Indies. I guess you could say they were works of art since they are found in few places beyond the New Orleans area that I know of.
The New Orleans French Quarter and the historic homes brighten the streets and the lives of the people living and visiting the area. Its a mixture of Creole, West Indies, Italian and Irish who settled in in these shotgun neighborhoods. Much of the style is dictated by the hot humid climate in which we lived before autos and A/C. My guess is most of these shotguns were built around 1900.
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French Quarter Balconies-Your window to the French Quarter. What are they worth?
October 18th, 2008 categories: French Quarter
How do you value a balcony in a New Orleans French Quarter Condo. Its hard to put a number on the balcony but people will definitely pay extra to have one. They may not use it a lot but its an item that many people want when looking for a condo in all price ranges. You cannot build or add balconies if you do not already have one. To remain historically correct few changes can be done without approval of the Vieux Carre Commission. This is even down to the color of your paint.
French Quarter Balconies are valued since there is a shortage of them. People prefer second and third story units over that of a first floor unit. People want condos that have street views. People want units that have more light and larger windows. The front units tend to be larger and have higher ceilings and character. The developers now know that so many of the best units are units with balconies.
This is because the front units were the main parts of these old townhomes. The front units tend to be larger as they are in the prime spot of the complex. None were condos in the beginning over 150 years ago plus. All these factors enhance the values of the balcony units. The more windows you have on the balcony the more valuable the balcony.
As you can see balconies are a chance for you to show off your green thumb. Balconies are also great place to view the local sites and sounds of the Quarter. They come in a variety of sizes and heights. Everything here was built before a/c or even electricity for that matter so access to many balconies are thru the windows or French doors. Ferns are the most common hanging basket that is used but also you will see a lot of color with annuals.
The iron work of the railings are like artwork each with its own design. I cannot think of many places in the United States that as many balconies as the New Orleans French Quarter. These facts show you the value of a condo of a condo with an exterior balcony. It is still hard to put that number on balconies but the great value is there. What do you think?
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French Quarter Condos-837 Royal Street-The Lush Tropical Courtyard gets an A+.
October 10th, 2008 categories: French Quarter, New Orleans Condo Reviews
The Delacroux condos at 837 Royal Street in the heart of the New Orleans French Quarter is a 12 unit historic condo complex. Its a 3 story brick building that surrounds a lush tropical interior courtyard that gives the units views of the pool and courtyard. You are in the middle of French Quarter but once inside you could be anywhere in the tropical world. The New Orleans weather is great for growing and the culture is one that enjoys courtyards and fountains.
The La Croux Building dates to 1833 and was turned into condos in the 1990’s. The condos managed to maintain the historic features along with the lush courtyard and fountains. The condos have one and two bedroom units with balconies facing the courtyard. There is an elevator to the upper floors.
The first floor front of the historic building is still commercial as most of the condo complexes in the New Orleans French Quarter. Many of the units open onto the interior balconies with the great views. Check out the shutters and French doors. The units have high ceilings, wood floors, and lots of natural light. Read the rest of this entry »
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French Quarter Condos-917 Toulouse Condos-The Vieux Carre Resort Properties.There are some new units in the Quarter.
September 21st, 2008 categories: French Quarter, New Orleans Condo Reviews
The 917 Toulouse Condos are basically a new complex built around the plans of this historic building dating till 1828. The condos have got the charm of almost 180 years but the newness of the twenty first century. The 11 unit complex is top notch in many respects. You have 11 units of which there are one bedrooms, two bedrooms and the penthouses. Over half the units have garage parking. The penthouse units are over 2000. sq. ft. of living. All the units open into the courtyard and the pool.
The kitchens are of gourmet quality with gas stoves for the true gourmet cook surrounded by some of the worlds finest eateries in the New Orleans French Quarter. The units are only several years old. The two bedroom units are townhouse style with doors to the courtyard and to the balcony. The units feature wood floors, crown molding, granite counter tops, high ceilings, wood shades, french doors and plenty of light. The unit that I sold in the complex was a townhouse style with the kitchen and the living area opening onto the pool level. The balcony was the french doors leading to the bedrooms. The unit was very light with all the windows opening onto the courtyard.
This unit sold for 377k and was in tip top shape and was about 1100 sq. ft. You also had a nice patio on the roof top which was also common area and some great views at nite. There are very few newer units in the French Quarter. Most are conversions even though a lot has been done, they still are not newer compared to something like this. There are some more photos below of the unit.
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New Orleans French Quarter Market Update! Are Condos Sellings?
September 7th, 2008 categories: French Quarter, Market Trends
French Quarter Condos have been selling at a moderate pace the past 3 months. There are 125 New Orleans French Quarter condos currently for sale in the local MLS. Since June 1, 2008 there have been 36 sales of condos. Looking at the sales per month does not tell us much, so going back 3 months gives us a better idea of past sales. There are 20 units listed above 500k and 27 condos listed below 200k. You can see the bulk of the market is between 200-500k. The moderate pace far exceeds the sales in the same period a year ago. The trend looks good and could become better.
There was a new project at 1025 Bienville which had 8 units priced between 350k-700k. All the units are currently under contract. The condos were the Orleans Steel Mill condos. They are on the Canal Street side of the French Quarter. One of the common themes we are seeing is that people want units that are updated. They want something nice for the money or want that special location within the French Quarter.
Most of the sales are to second homers who want something nice. I sold three such units during this period and two were to local people who had always wanted a place in the French Quarter. Many are looking for condos with two bedrooms and two baths so they can invite friends to visit them in New Orleans on their visits. Many want units with nice views and balconies. Many want to be in a certain part of the French Quarter. Many do not want to be on the first floor.
Once you narrow your criteria down you will not have that many to look at. I recently did a search for condos in the 300-600k for 2/2 and came up with 6 units worth looking at. It tends to be this way, but we forget how hard it is to find the nicest unit.
You are going to have to pay over 400k for something nice with two bedrooms and two baths. If you want a one bedroom then you can get a balcony and on one of the premier streets in the Quarter. The weather has been hot during August and the Quarter should be a great visit as we move into October. Read the rest of this entry »
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