Archive for the 'French Quarter' Category
1350 Bourbon Street, French Quarter condos…Kinda of quiet area…for the Beauregard House Condos
October 31st, 2011 categories: French Quarter, New Orleans Condo Reviews
The Beauregard House located at 1350 Bourbon Street is close to the bourbon Street that we all know. It however is a very quiet neighborhood condo association between Esplanade and Barracks. Tucked away behind its brick wall it is barely noticed except for the flowers and vines that have crept over the front gate.
The condo association has 25 units with most of them being one bedroom units with the same basic floor plan of an alcove kitchen, living area and a good size bedroom. They all open to the balconies and have plenty of natural light. They surround a wonderfully landscaped courtyard and sparkling pool. The complex is three stories.
Each unit has French doors with shutters for the living room and windows in the bedroom. The units are about 525 sq. ft each. The kitchens are not large plenty of room for those who live in them on a part time basis. Its an alcove like kitchen leaving it open to the living area. Bath in the hall outside of the bedroom.
Most of the units are for second homes. Its a safe place where you can lock the door and leave for weeks at a time. You can enjoy the courtyard and then step out to enjoy what the French Quarter and Marigny has to offer. You can generally park nearby as the units have no on site parking.
There were three unit for sale this Summer and all have now sold. They were listed at 189k and 199k. One is currently under contract so the sales price is not yet known. The sales price on the others was 180k and 188k with the difference being the condition. We sold one of the units as it was a good buy for the under 200k range in the New Orleans French Quarter. A great location indeed.
There was a special assessment for the current owners so they could do some upgrades. You can always have the current owner finish up with the assessments which were due through the end of the year. The pluses were location, condition of the complex, attractive units, great common areas and competitive sizes. Just a perfect setting for a second home as the last three buyers are finding out. There was one sale in 2010 but three in 2011 with nothing currently on the market….
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French Quarter Condo Price Reduction, 1020 Esplanade #103, plus parking and pool…
July 13th, 2011 categories: Condo Listings, French Quarter
Now priced at $357,500 This large condo at 1020 Esplanade Avenue is one of the best buys in the New Orleans French Quarter for a large 2 bedroom and two bath condo. You add in a great courtyard and gated parking spot the condo even gets better. You have a large tropical courtyard with swimming pool in a 21 unit condo complex. Its an easy walk to the Marigny and the busy section of the Quarter. This is a very much a residential area.
The Esplanade condo is 1248 plus square foot of living. The large den was once a ballroom with high ceilings and brick fireplaces. A French Quarter parking spot is easily worth 30k and the common areas are priceless. There is one bedroom down and one bedroom and bath upstairs. The large den is 17×24 and has high ceilings with three large windows. You have a private alley entrance or through the secure entrance through the hallway.
Its been on the market for a while however it now has been reduced and the tenant has moved out. It now looks like it never has. Its easy to show and will always look neat and tidy. A sale with a tenant is always tough so the buyer can get what I call the tenant reward, a lower price because it has not shown well. However now that has been corrected big time. Call us to show…….
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New Condo Project in the French Quarter, 1027 Chartres Street, Barker House Condos, They are New…But Old.
May 22nd, 2011 categories: Condo Listings, French Quarter
The Barker House Condos in the French Quarter are going to be one of the very few complete renovations in such a long time with a such great location. In real estate location is the key. You are near the corner of Ursulines where the Beaurgard Keyes House and the Ursuline Convent are located.
You can walk to Stella’s across the Street or walk half a block to Irene’s. Jackson Square is two blocks away and Royal Street is a block away. The neighborhood has been around a while with this homes being built in about the 1870’s. If you like history then you can live it in this location.
There are 7 condos currently under going a historic renovation that will basically be new condos. Five of the units have balconies. All will have a lot of natural light, high ceilings, exposed brick, old fireplaces, wood floors, shutters, new appliances, open floor plans while preserving all the historical value that is possible.
The prices start at 299k and can be viewed on my website as I up the construction and give a little insight into each condo. Check out the prices and floor plans. Barker House Condos in New Orleans. Check it out more in depth on my website. I will be updating the project as we move through the construction phase in full progress as we speak.
Each unit is so different no two be be alike or close except the rear two condos that were origionally servants quarter or rooms for guests.
The Courtyard is one of the largest that I have seen for seven condos and it will be an eye opener with a fountain, old lamps, and a lot of old brick, cook out area, tropical plants hidden away in the rear of the building. Its a work of art and getting better by the day. Its over 2000 sq. ft. right out the door of all the condos.
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French Quarter Condo Pricing is tough !
March 11th, 2011 categories: French Quarter
Prices in the New Orleans French Quarter Condo Market do seem to be all over the ballpark. They tend to be all over the place for a number of valid reasons. You will find some prices that are obviously too high and wonder what the sellers were thinking. You also see condos that are really priced well. Its just a hard area to price and that is just the nature of the French Quarter Market.
One of the main reasons is that the condo complexes tend to be small and its hard to find comparable sales when you price your condo as a seller. Since many of the complexes are small the developers used all the available space. Many times this does not make for great floor plans.
The location within the French Quarter is a large factor. The views and amenties vary greatly from one condo to the next. Generally the prices are higher between the Mississippi River na d Bourbon Street.
The condition of the condos will vary greatly. This was the first area that saw a lot of second homes in the New Orleans Condo market. Many have been there for 2o plus years. Some will have updates and some will not. Newly updated places will always sell for more and be more desirable. The conditions of the complex will also vary from one condo association to another. Many have not kept the common areas updated where others have a very well maintained and beautiful courtyards.
Then you throw in things like parking. Balconies and courtyards make big, big differences in pricing. Natural light and high ceilings add to the value along with views. Floor plans and style will vary drastically between many units. The amount variables makes it much harder to get to the right number.
Many people who bought may have just overpaid when they bought and did not get the deal they thought. The sellers may be trying to get a price and not what it is worth. Most of the units in the French Quarter are second homes and the sellers may not be truly motivated to sell. On the other hand many will be aggressive on their pricing and just want to sell at a fair price.
One of the things I do is make sure you are competitive with other condos for sale. You want to be in the top 3 condos within the price range you are competiting in. You want to have the best chance to sell. You want to outshine with your competition…………
As a buyer you will find the correct unit just by being there at the right time…..
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The importance of Views in New Orleans Condos cannot be over looked..
February 24th, 2011 categories: Condo Knowledge, French Quarter
The value of a view great condo cannot be understated in the New Orleans Real Estate Market. People do want views and it is always worth the extra to get a good one when you go to sell. It will show up in the square footage but its hard to tell unless you actually know what you are looking at. The same can be said about private patios and balconies but they are not as the “View” .
I recently sold the condo with this view below in the French Quarter. It was a fantastic view with a patio as well. It sat on the market for months because it needed a lot of remodeling and the price was too high. I went into my mind inventory as one of the best views in the French Quarter below 250k, it eventually sold for 225k.
My clients are almost finishing all the upgrades having spent about 20k to date. The transformation is amazing. They had the vision, insight and the desire to create their own space. Now they may have the best 275k condo in the quarter with parking to boot.
Many time the developers do not fully take this into account on a new project as much as they should basing prices on square footage. Only so many units can have views like this unit below. It has 4 french doors like this facing the city and two facing the patio. The unit may show wear but the views are almost impossible to replace.
The natural light tends to come with condos that have great views which is always a plus as well. When markets slow down as we have had the last couple of years, people will not just buy anything but want the best in a second home or primary residence.
The appraisers know the views matter but just cannot give them the higher numbers due to their techniques of valuing a property. The real proof are in the sales of these premium views. If you have the desire to remodel then you may want to buy a great view in a unit that needs updating.
The view values are going to be important in the French Quarter, Warehouse District, Garden District, Lakefront and Uptown New Orleans because they are not that easy to find in a search. Let say the “views” have timeless values. “View the view as an investment and one of the most enjoyable benefits of owning a New Orleans Condo. As Lana Sackett once said the “eyes” have it……..
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French Quarter Condo, 1020 Esplanade Ave. has some unique features and pluses…
December 5th, 2010 categories: Condo Listings, French Quarter
The new French Quarter listing that I just got is unique in several ways for the New Orleans French Quarter. The condo is located at 102o Esplanade Ave. #103 which is on the edge of the French Quarter in a more residential area than most people would think. It within easy walking distance of all the local attractions with easy access in and out of the New Orleans Area.
The condo association with its tropical courtyard and pool are as good as any in the New Orleans area and very unique for a small condo association. The fees still remain moderate for what you are receiving. Walk out the back gate and you are on Barracks about half a block from the dog park. There has been very little turnover of units in the last 4-5 years as people like to stay and keep thier units.
The condo itself is unique in that the large living room is much like the ballroom that it once was. The high ceiling, old fireplaces, exposed brick, beautiful millwork , feel and look huge for a condo in New Orleans. There is one bedroom up and one bedroom down. This building was once the Italian Hall converted iinot condos many years ago.
Parking comes with the condo which alone can easily be worth 25k-30k . Parking is an unusual get in the French Quarter. It is secure parking steps from the back door of the condo.
The condo is very secure and the unit opens onto a 3 stroy atrium from Esplanade Ave. which gives one a lot of privacy. This is the kind of place where you can lock your door and come back 2-3 months later with no worries.
The condo is over 1200 sq. ft of living with two bedrooms and two baths. The elegant living area is 24×17. Both bedrrooms are decent size with exposed brick and old fireplace left in tact. The bedrooms are 13×13 and 13×16. The master has a jacuzzi tub for your enjoyment. The kitchen is 12×8 in the rear of the unit.
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1020 Esplanade Condos in the French Quarter features a tropical courtyard.
November 15th, 2010 categories: Buyers Agent, French Quarter, New Orleans Condo Reviews
The French Quarter condos at 1020 Esplanade in the the French Quarter were once an Italian Hall dating back to the early 1900’s . This is when you had an influx of Italian immigrants that lived down river in the Marigny and in the French Quarter. The complex features 24 units and has parking which is very very unusual in the French Quarter.
The feature that catches my eye each time I visit is the tropical courtyard, fountain, and pool. Its a lot of space for 24 units and makes such a huge difference in the lifestyle. The condos are home to a good number of second homers. Once you close the doors you are in another world as you can see by the photos below. The common areas are second to none for a complex this size and have plenty of room to spread out and feel alone in the middle of town.
The condos vary in size, value, views so when you have seen one, you have not seen them all. High ceilings, beautiful millwork, large windows, fireplaces, and that historic feel are felt though out the complex. The complex has improved recently with upgrades to the hallways and the exterior of the building. The condos are self managed and the owners take pride in their homes. Yet the condo fees remain reasonable for what you receive.
The brick courtyard features fountains, lush greenery, tables and chairs to rest and talk about politics in New Orleans. Once you enter the courtyard behind the main building its very a quiet and peaceful setting. A perfect place to sit and have a thought or two. I have never seen anyone in the pool but it looks very inviting and is great on the eyes as well.
You can easily walk to all the venues, restaurants, Royal Street, Jackson Square, the Marigny in 10-15 minutes from your tropical courtyard int he French Quarter. Having amenities such as these should be a consideration when thinking about a second home or a place to live. It does add to the quality of life and often times the condos are no more than condos that do not have any features.
There have only been 3 sales since 2008 in the building so people tend to stay put. I recently sold one and am in the process of listing another one in the building. The other oddity is that most of the units have parking in a lot 50 feet our the rear door on Barracks Street.
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French Quarter Markert Update! Prices are all over the spectrum! Buyers Market?
October 28th, 2009 categories: French Quarter, Second Homes
The French Quarter Condo prices are all over the place for a number of reasons that I have been able to put my finger on. Most of the real estate sold in the French Quarter are condos so I will concentrate on that market with this update. It all get back to slack demand for the price that people are asking.
French Quarter Market Update- This will give you what is currently for sale and what has sold in the last 3 months in the French Quarter in condos. Its shows 114 for sale with, 14 currently under contract, 14 sold condos over the last 3 months. Click to get a detailed update form the Market Snap Shot which is available to you by filling in the basic info. I can get it far more refined if you would like me to do it.
Why are the prices all over the place!
Second Homes- Many of the condos in the French Quarter are second homes. Less second homes are being bought in general due to the economy. Many second homers want to sell but do not have to sell. They have the units priced incorrectly. Comparisons are harder in this segment or the sellers are stubborn with pricing.
You have various motivations for owners wanting to sell. Some have to sell and become more reasonable quicker. Many have been of the market for a while and sellers begin to see the real value in their condos. They finally see prices are declining and decide to sell and move on.
Strong rise in prices in 2003 and 2004 You had a real estate bubble with people buying condos with great appreciation during those years. Some buyers got good deals but many buyers did not get so lucky. The early buyers have more equity so can still sell with a profit.
Competing locations in New Orleans You now have more areas that compete with the French Quarter. The Uptown area, the Warehouse District and other areas are getting the attention of buyers who once only looked in the French Quarter. This puts pressure on the average condo. The premium units will always fare better.
Nature of the Condo Associations Many of the condo association have not kept up with the necessary updates and repairs that they should have. This may be because most of the owners do not live in New Orleans. With that said there are a number of very well run associations.
Number of Updated Units A lot of the units are in need of updating. Today’s are passing these up for the premium units that have been updated. The units that need updating have not priced that into the asking price. Some of the best buys are those that need cosmetic updates such as bad floors, lighting and colors. Spending 5k to 10k can get you equity if you are willing to take the chance.
Size of many Condos Many of the condos on the market are just too small. They are more like a motel room. These have quickly fallen out of favor.
Financing on New Units The new developments are having a hard time getting conventional financing unit a certain number are sold. To do other wise is to pay cash or a much higher interest rate.
The values are there but you have to cull through many units to find the correct one. Its all in the timing of finding what you are looking for and what currently is available. All these issues however make it great for a Buyers looking to be in the French Quarter.
People are starting to notice as properties that meet their needs are reaching prices that are affordable and much cheaper than a couple of years ago. Get a good Buyer’s Agent and do your homework in advance.
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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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French Quarter Condo Trends for May, 2009! What are the numbers saying?
May 3rd, 2009 categories: French Quarter
Most of the real estate sold in the New Orleans French Quarter are condos. At the present time there are 156 units for sale with only 9 under contract. These are not good numbers if you are a seller. There have been 28 sales during the last six months or about 5 units being sold per month. This is coming out of a very slow period. Real Estate is seasonal and many of the condos sold are to second home people from nearby states.
The square foot prices in the French Quarter are all over the place as to the quality and location of the units vary a lot. The French Quarter has always been more expensive than the Uptown and Warehouse District. The Uptown and Warehouse District locations were not competition for French Quarter condos as much in the past but they are now.
You wonder why the trend to fewer sales. One of the reason is that people have other areas to chose from that are competitive for what you get. There are fewer and fewer locals looking to buy as they tend to look in other locations. The prices for property went up way too fast from 2000-2005. Now you have the nicer properties in other areas at cheaper prices. Many people are still looking in the French Quarter but are buying in as great numbers.
I find the weakest segment of the market are the very small units that are under 500 sq. ft. that are not in great shape. The best segment is the two bedroom and two bath units with good locations.
This means if you are a buyer you will begin to see the prices trend downward on the not so premium properties. Those that are very small, those that need updating and those in the poorer locations. There will be sellers that just want to sell and get their profit out of the second home and invest in something else. Some motivated sellers will have very fair prices and they will price their French Quarter condos accordingly.
This means its still a buyers market with great interest rates and motivated sellers. Many people just want the French Quarter so now that its a buyers market its time to starting looking. That good deal may be around the corner. This is what I a thinking. You may have some other comments and that would be great!
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