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Buyers Market Update for New Orleans Condos, Interest Rates drop Big Time!

    Interest rates dropped to the  mid 5% range for a 30 year note. This is the lowest I can remember rates being in the last several years.  This is a key indicator of a buyers market along with an ample supply of willing sellers.  I expect the rates to remain volatile so if you can take advantage of them its a great time to find a deal.  No telling when they will go up.

     With that said you still want to search for the condo that will have the best chance of reselling in the future.  A .5% drop is equal to $64 per month on your note.  You should also be able to get a seasonal discount as well due to the timing of your purchase.  Less Buyers are in the market this time of year.

New Orleans Foreclosures

      There is a decent supply of condos on the market at all price ranges but it still remains easy to get to the top 5 choices once I know the price range and type that you want. You can basically still see all the availiable units in an afternoon.  Just did it Sunday in the Warehouse District.  

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  1. Warehouse District Condos, Market Update for December 2008. Buyers Market?

    […] a feel of the Warehouse District Condo market before getting into the numbers.  It is definitely a Buyers Market but the supply is not overwhelming.  Many sellers are still asking too much for what they are […]

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Eric Bouler Realtor
Gardner Realtors
Metairie - New Orleans, La. USA