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Location, Location, Location in New Orleans Condos is all so improtant…

     In New Orleans Real Estate location is one of the main factors in valuing real estate.  It is no different in the world of New Orleans Condos.  If all other things are equal then location is very big.  Crossing one street may make a huge difference in price.  Most New Orleans neighborhoods are set up this way.  You just have to know about the locations.

     One of the interesting and intriguing things about “New Orleans Condo Locations” is that they are not static and but do change over short periods of time.  Generally this happens on the edges of areas where prices and demand is increasing and doing well.  The purchasers and developers push to find new buildings and houses to develop.  One of the most dramatic changing areas is the Lower Garden District which is adjacent to the Warehouse District.  

     Another example of this is in the Warehouse District and you get closer to Loyola Ave.  The Warehouse District is expanding in this direction.  The Mississippi River is one barrier and  the French Quarter is another.  The catalyst for this move is the Super Dome, New Orleans Arena, New Hyatt Hotels, Loyola Streetcar line, Rouses Super Market, Benson Towers, Champions Square, Newer Rental complexes and various restaurants, bars and retail establishments.

      One more example in this area is the CBD developement.  The area between Poydres and Canal may be one of these areas.  You see the new apartments at the Hibernia Towers which will be Luxury Rentals. Then you may begin to see other places and building being redone.  It will be all in the timing.  Being too early can be an expensive mistake.  Your realtor should be able to direct you along these lines if they know the areas where you are looking to purchase or to develope.

     So it is important for future appreciation to understand these trends and pick an area where this is happening.  Soe areas will not pick up or not right away.  Even the experts can be wrong.  You do not want to be the “Lone Trend Setter”  I tended to give examples of the Warehouse District in this blog but it is happening in other areas as well.

     The Mississippi River front in the biggest “No Brainer” of all.  The area would be super successful.  Governments and attorneys move so slowly that some things are waiting to happen but just plod along.  This is a great way to increase your tax base and add another lifestyle to the New Orleans Condo Market.  Generating money from Meter Maids and Speeding Cameras can only take a city so far.  Bite the apple it is right in front of you…..

Downtown New Orleans Map

          The other big issue is that people start shopping on the internet and this never does really say much about location.  I generally tell people if it looks too good to be true then the neighborhood is not a demand area.  The real estate just sits and sits.  They look good but……

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