Eric Bouler

French Quarter Real Estate, What no front yards?

The New Orleans French Quarter is the oldest residential neighborhood in the City of New Orleans. There are very few front yards. Either no one wanted to cut grass or even thought of having yards at that time. Parking was not an issue as the automobile would not be invented for another 200 years. The stables were in another neighborhood and horses were brought over when needed. Instead of front yards, courtyards, many graced with fountains and greenery, provided outside living space. Privacy was another reason.

Many of the early residents lived in New Orleans during the winters and ran plantations during the spring and summer. The plantations line the Mississippi River in the pre-1850's. The housing styles came from Europe and of those in other French and Spanish colonies that had similar weather. The idea was mainly to keep cool and an air flow thru the houses. Many of these old homes have been converted into condos and no one wants to cut the grass anyway these days.

Uptown Condos-More people looking in Uptown New Orleans for second homes-Charm or Price?

I have seen many more clients and people looking at the New Orleans Uptown Market for condos that will make nice second homes. The real estate prices are going to be cheaper than the French Quarter or the Warehouse District. It may be that many of the areas were never brought to mind. Many are looking for a two bedroom and two bath for under 250k and that is hard to find in these other areas such as the Quarter and the Warehouse District. It can be found in the Uptown area. New Olreans Condos

Its the historic condos with the high ceilings, wood floors and character that seem to be in favor. Th.e name streets near St. Charles, Magazine and Pytania seem to be where most want to be. The two bedrooms are often wanted so that you can bring business friends and family to visit with you. They all feature easy walking and places where the cars can stay put if you like to walk the area. New Orleans is very compact in these areas and you are never more than 15-20 minutes to the French Quarter going slow.

You tend to get much more size and many have been updated. Most of the complexes are going to be small complexes as they were converted from old homes or apartment houses into condos. Its much easier to find the units between 170 and 200k in the Uptown area as compared to other neighborhoods.

There has never been a lot speculation in tghe New Orleans Condo Market so values have remained constant for the last couple of years. There was never much sub-prime in these areas so that issue is not in play in almost all cases. A very steady market for the right kind of unit. The story is much different for condos that tend to look like 1970s apartment complexes. These have fallen out of favor as they tend to be just a place to stay.

We are beginning to see some good values and people have waited too long to sell for seasonal reasons and just not pricing the condos correctly in the beginning. You hear over and over again that this is what I need. The market does not work that way and real estate is worth what others are willing to pay. No concern is ever given to an individuals need for a price.

I showed one unit yesterday that was put on the market for 199k and now the price has been dropped to 159k and now the price is great. Few have been looking in the last 3-4 weeks with the hurricanes and mortgage mess. The seller is now willing to jump at any reasonable offer and so will the Bank. I did not show it earlier as I knew the price was unrealistic and the price would have to drop with time. Drop it did?

New Orleans-City Park, the Sculpture Garden. When is the last time you have gone?

Being in real estate you are your own boss. You work a lot of hours but you have control of what you do. I took the time to stop by City Park this week after visiting a client. You forget how pretty and how many things there are to do. One of the things is the Sculpture Garden which is open daily. The Besthoff's owned the leading retail drug chain in New Orleans for years, K&B Drugs.

The admission is free but it worth leaving a donation so others can enjoy it as well. Its open daily and takes up only 5 acres with paths and lagoons spread about the park. Its very quiet and a short drive from downtown. Take the street car from Canal Street to Carrolton and you get off at the end of the line across from Bayou St. John. I just pulled over parked and started taking pictures with my cell phone in the car.

The Sculpture Collection

donated by Sydney and Walda Besthoff in New Orleans City Park

"The Sydney and Walda Besthoff Sculpture Garden is home to 57 sculptures by artists from around the world. Forty-four of the 57 sculptures have been donated to the New Orleans Museum of Art by the Besthoff Foundation. The other 11 are Museum purchases or gifts from other donors. The collection includes work by some of the great master sculptors of the 20th century (Antoine Bourdelle, Henry Moore, Jacques Lipchitz, Louise Bourgeois), as well as younger, contemporary sculptors (Kenneth Snelson, Allison Saar, Joel Shapiro, Jean-Michel Othoniel). Nine of the 57 sculptures pre-date 1960, while 29 of the 57 artists represented are living. "

New Orleans-Borders Bookstore Opens Fall of 2008. St. Charles and Louisiana Ave.

Borders Bookstore on St. Charles Ave will open this Fall in the Crescent City. It is located on St. Charles Ave. at the corner of Louisiana Ave on the St. Charles Ave Streetcar line. The bookstore will showcase Louisiana and New Orleans Books, Authors and Music. The bookstore is notable for several reasons. It is built on the site of the Baltman Funeral Home which has been at the location since 1943. The exterior of the building is being preserved as you can see below. The nine million dollar project will be 24,000 sq. ft and will be the first chain store on St. Charles Ave.

The Borders Concept store is within walking distance of many of the condos that I have been selling in the Uptown area over the past couple of years. It will be a destination place for the locals as well a tourist stop on the Streetcar line. Outdoor coffee shop and cafe no doubt. I did a search on the Borders site and they had 2821 New Orleans related Music items and 939 books. Guess its name that tune over hangman!

Will see you at the Grand Opening if you are in the area. Always nice to get an upgrade from a funeral home to a book and music store.

New Orleans Condo-Buyers Delight! Rates drop and sellers are more modivated!

The interest rates have dropped since the take over of Freddie Mac and Fannie May. The takeover and the slowing economy are bringing rates down. What does this mean for you and your note. If the rates drop .5% you are looking at saving $33 per 100k on what you borrow. If you were looking at borrowing 200k you can save about $75 on your note in the past week alone. This is $900 per year in interest savings. Its like a $12,000 reduction in the price of the home or condo in terms of your note. I have have no idea as to how long these rates will hold. Good time to think about it however.

At the same time sellers who have had their condos or homes listed over the summer are getting ready to take a lower offer as the seasonal effects of real estate will take effect now. Throw in a Hurricane and sellers become ready to strike a deal. This bodes well for the buyers. Its bodes especially well if you have the loan ready to go with a well thought of lender. Get qualified and start looking as there are some good deals in all price ranges. Much has not changed since 2005 and expectations are for steady prices.

The seller may also be getting a good deal on his next purchase and just wants to move on. These are the sellers that buyers need to look for.

First time buyers can still get a tax credit of $7500.

Pic nik is a very easy program for pictures. Check www.picnik.com out as it is a great free tool you can use to enhance your photos. This took me about 3 minutes to frame and etch in a name. Just a tidbit to pass along. The basic version is free. You keep the original photos and make changes on line before downloading. Always amazed how many free and useful things you can find on the Internet.

View other related articles. Sellers Motivations , New Home buyers tax credit , To Buy or to rent.