Archive for July, 2009
Hidden Gems in the New Orleans French Quarter! Beauty and History!
July 25th, 2009 categories: French Quarter
Last week I had to meet David with Absolute Pest Control in the French Quarter to so he could inspect a recent sale for termites. I arrived early and had a few minutes to take a couple of photos with my new camera. Its always in my car and ready to go when I see something. A real estate tool.
I had time to take a couple of photos and discover some new things about New Orleans and the French Quarter. I am a student of history and historic buildings. One of my hobbies is tropical plants. One of my hobbies is photography. In real estate you are your own boss so these hobbies really tie in with my work.
This group of town homes were built 10 years after Louisiana became a State. Many women in French Louisiana were the business person of the family. The brothers would often have too much play and the father wanted his investment protected so he chose the best to run the business. Many Creole plantations were also run by women at the turn of the century. That was the 18th century and early 19th century however.
New Orleans gets about 60 inches of rain per year and very few cold days and nights. Found these flowers growing in the courtyard flowing from the home next door. Now how many places in the United States could you find this much history, historic structures, tropical plants, be self employed and have time to goof off.
Now I will have to get me one of these plants. The were designed to turn someone’s eye. Some of your best photos come the morning so enjoy!
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Using a local lender can save you a lot of headaches!
July 19th, 2009 categories: Condo Knowledge, Julie's Mortgage Tips
Using a local lender that has a local back office can save you a lot of money, time and aggravation. Having the entire process local makes the people much more accountable to you and your needs. They have to deal with us on a local basis. They are just more accountable plus they are often time the most cost effective way to finance.
Making the call to an unknown person in Dallas or Atlanta is much like talking to the IRS, they just do not want to be bothered. The decisions are last minute. They do not understand our our local market and issues.
The interest rates are generally going to be the same or better. The cost are also gnerally going to be cheaper as well. Always ask for a good faith estimate to check out the cost. Ask if they have a lock in period and if the rates drops can you take advantage of the lower rates.
If your lender is late you may just blow the deal. Many sellers will wait for the loan but they do not have to wait. There are times when they will move to the next person or deal.
Ask around to see who has received good service and who has not. The out of town lenders can cause big problems. We will never hear from them again so the incentive to be crediable is long removed. This happens time and time again. That is why I am bringing it up. Tired of last minute suprises. We as agents have our favorite lenders becuse they get the job done for us and give our clients the attention the deserve.
It is especially true with condos to get the local person who knows the various condo associations and knows how to get the imformation they need. More and more deals are falling apart because the lender does not know the market. Just my point of View ! Eric
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Condo Insurance in New Orleans, What is an HO6 Policy? Not related to H2O !
July 12th, 2009 categories: Condo Knowledge
You May think insurance for your condominium is covered by your association fees. In New Orleans Condos your monthly condo fees are used to fund a building insurance policy. If your unit is robbed or damaged, your building insurance will not provide any coverage for your personal possessions, nor will it offer you any protection from personal liability.
You want to be insured fully then think about all with things from the sheet rock in. Kitchen appliances, cabinets, counters, fixtures, furniture, electronics, upgraded flooring, personnel belongings, clothing, computers, and what ever else you will keep in your Condo.
Most lenders do not require this but many are now starting to make you have the right amount to put your condo back together if disaster strikes. it could be fire, it could be theft,
To protect your belongings and yourself, you need to purchase a personal home insurance policy (type HO-6) that is designed for condos. I asked Ashley Lotz with Eagan Insurance for a couple of questions that everyone may have. You can reach Ashley at 504-836-99663 on her direct line for a quote.
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What is an HO6 Policy ? An HO6 policy is a condo unit policy used to protect your investment of the unit owner and provides coverage for dwelling, personnel property, and personal liability.
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How much dwelling coverage am I responsible to carry? You should carry up to the replacement cost, or what it would cost to replace all items in the unit new. This could range from $20 to over $50 a square foot depending upon the quality of the items found in the unit.
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What is personal liability and why do I need this? The association will carry a master General Liability policy to protect the interest of the common areas of the building if someone were to get injured on the premise. you would need to carry personal liability if an injury would occur inside your condo. Master policies do cover things that happen inside of your unit.
- What are some other coverages that I should ask for when receiving a quote? You should always request replacement cost on contents and loss assessment coverage. Loss assessment is coverage that will pay for your share of any fees that may assessed by the association to cover deductibles or repairs.
- What is the premium for an HO6 policy? The average cost is between $600 and $1200 per year. This of course depends on the amount of insurance and the contents you are covering.
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Sugar Plantation Condos #219, New Orleans Warehouse Distirct, Get a feel for the Area as Well!
July 2nd, 2009 categories: Condo Listings, Warehouse District
Getting a feel of the area where you are going to live is very important aspect of your buying decision. The Sugar Plantation Condo #219 is a premium unit in that is has everything that most people are looking for in a New Orleans Warehouse District condo. Great location in the center of the area at 840 Tchoupitoulas next door to Emeril’s on the corner of Julia Street. The units were new in 2005, these were not conversions from rentals so all the build outs are new in 2005. This means all the a/c, heating, pipes, electrical were new at that ime . The condos sold out within several days at that time.
The #219 Sugar Plantation condo has Tchoupitoulas Street views from the second floor. It has designated parking in the garage below. It has a large storage area downstairs. The condo itself is very fresh with few scratches or even a lived in look after several years. The positives are high ceilings, exposed beams, stained concrete floors in living areas, large windows, exposed brick, and the true Luxury Warehouse feel. This unit is priced at $299,219 is considered a premium unit in the Sugar Plantation Condos. It still has the new unit feel.
The condo is about 1000 sq. ft. with one bedroom with plenty of storage. There is another room that could be used as a guest room or an office. It does not have a closet so I would not call it a two bedroom. The floor plan is open. The bath and kitchen are almost new with that upgraded feel and look. Washer and dryer in the laundry room off the kitchen. The rooms are large as well. plenty of storage for a condo.
This is more than likely the cheapest condo in the building which puts you in a great neighborhood of condos up to the 600k range.
The condo association is professionally managed and has secure entrances for parking and from the Street. The condo was completed in 2005. The condo features garage parking for all. The courtyard and pool are available for the residents. There is a party room and exercise room to enjoy as well. The condo fees are right at $300 per month which covers water, upkeep, cleaning of common areas, management, elevators, parking areas, and security.
I have include some various photos of the New Orleans Warehouse District so you can get a feel for the area as well as well as the condo. The area is the location and in real estate the location is a key factor of your decision.
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