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New Orleans Secondo Home buyers. A condo should fit the Bill! More areas getting Notice!

    The purchase of a condo is the best way to go for a person wanting a second home.  It is a place where you can shut the door and leave.  The insurance is much lower and is in the condo fees.  For larger condo associations the daily, weekly and monthly maintenance issues are taken care of for you.

      Some of the changes I am seeing over years past is that people are looking in several areas.  The French Quarter was once the most popular spot for second homes.  Now other areas are doing well.

      Warehouse District – Its across Canal Street and a short walk to the French Quarter.  The condos are generally cheaper, newer, larger and the projects are larger.  Many have amenities such as gyms, pools, security and large courtyards.  You can find this for under 200k.

     French Quarter Prices are falling and pricing is rather erratic.  There are some good buys to be had especially in the under 250k range.  Still very hard to get parking included.  Willing to do a little updating and you can do even better.

     Garden District Becoming popular  as historic homes and buildings have been converted into condos.  The most popular for future value is the historic conversions where you still have a feel of the old home with wood floors, high ceilings and large windows.

    Uptown Area Condos A wide variety of condos exist with prices ranging from 150k and up.  Being between St. Charles and Magazine is the hot spot in an historic condo conversion.

    University Area Condos  A built in demand for Tulane and Loyola students where the parents can enjoy the condo as a second home.  The historic condos are selling very well in this area as long as they are updated.

     Lakeview by the Lake   Beginning to see more action in this area as well. Its very close to downtown and if you like the water and outdoors you are in luck.  Prices are down but not a lot of supply.  Your small community that has everything.  Happy Sailing !

      Financing a second home is still easy and the rates are around 5%.  The demand was down and now see more and more people starting to look.  Some want to winter here and leave the snow behind.  Not everyone has to go to Florida.  Shop and Sleep, then enjoy eating and drinking. 

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