Archive for June, 2010
Mariners Island Condo #401 in Mandeville on the Lake! The Views are stunning!
June 26th, 2010 categories: Condo Listings, Lakefront
A choice lakefront condo that features sunsets from your den and sunrise views from your kitchen. Its a corner unit right on the lake within walking distance to the marina and plenty of green space. The balcony is off the den and covered parking for two is on the ground floor. You are minutes away from the Causeway and close to everything.
The lake front condo is tastefully done with wood floors, built in bookcases, a large master bedroom, open kitchen with plenty of cabinets, fireplace, open floor plan , large master bath, plenty of natural light, breakfast bar, elevator and much more. The living area is 1767 sq. ft. The master bedroom is 18.5×15.6 and the second bedroom is 12×15 which is also a good size room.
There are 23 units in the complex. The condo fee’s are $435 per month and include insurance, water, common area maintenance and upkeep. The price $335,000. What set this unit apart is the location with the complex with unobstructed views of the lake and surrounding areas. The other bonus is if you own a boat it can be parked within walking distance of your home. Enjoy the sunsets and dream on!
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New Orleans Condo Trends for June! Bits and pieces of knowledge!
June 8th, 2010 categories: Market Trends, Selling your Condo
The market is odd for a couple of reasons. The most suprising is that you never seem to have more than 4 or 5 good choices in New Orleans when you consider all your criteria. There are not a lot of new units coming on the market but not a lot selling either. Buyers are looking for the premium units where nothing has to be done. They of course have to be priced right as well.
Sellers have to Stage and Update ! I recently listed a condo at the Cotton Mill Condos where the owners hired a young lady to give them tips and ideas to get their unit ready for sale. Some was painting and getting rid of the clutter. They followed her directions to a great degree.
It was time and effort but it worked. It sold within the week and I know this is why it did. Both units in their final choices were down this way. I was even surprised at the effectiveness and I do this every day.
Sellers have to slot their unit to be competitive ! This means knowing what your competition is and what the final choices are going to be before you list. You need to be slotted to be one of the best in that class. A seasoned agent that works the market can show you where you need to be. Selling a place is all about timing. Take the steps to make you unit compete like the Cotton Mill couple. This save time and make you money in the end.
Tax credit rush is over but interest rates are at 4.625% this week ! That means the cost of money is as cheap as it has been for 30 yeas or more. Borrow a 100k and you principal and Intersest is around $520. The tax credit di create a flurry of activity and many who would have bought in May and June pushed up their buying to April. Once the flurry ended there will be a lull.
The weakness is still in the one bedroom units. The weakness is in condos that need to be updated. The premium units are getting all the action as things have reached that lull. The Louisiana Oil Spill has not helped but may mean if you are buying the sellers may just say yes to a lower offer than they would have taken in April.
The photo above is in the New Orleans Warehouse District where a lot of renovations are being done. I can easily count 8-10 complete renovations in the initial stages of work. This was not the case in the last three years so I know someone has confidence in the New Orleans market.
Maybe its the “gone factor” of no longer having Mayor Ray Nagin running the show into the ground week after week. Breath of Fresh Air Now!
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