About Jefferson Parish, LA

The April 2009 home sale market reports and real estate trends for the West Bank of New Orleans are now available at West Bank Living:

Algiers 70131

Algiers 70114

Algiers Point

English Turn

City of Gretna 70053

Terrytown and Gretna 70056

Belle Chasse LA 70037

Harvey LA 70058

Marrero LA 70072

Westwego, Avondale and Bridge City LA 70094

Are you considering buying or selling a home on the West Bank of New Orleans? The West Bank Living Team provides local, professional real estate services to buyers, sellers and military personnel relocating to and from NAS JRB New Orleans. It would be our pleasure to assist you with all of your real estate needs.

Are you a first-time homebuyer? If so, you may be eligible for up to an $8,000 tax credit targeted directly to first-time homebuyers. I've heard plenty of talk about this new tax credit, so I thought I'd share a little information on the specifics of the program. The best part about the new 2009 tax credit is that it is essentially a grant and is no longer required to be paid back. As a recent graduate and soon to be first-time homebuyer myself, it's refreshing to know that i'm going to be putting a few extra bucks in my pocket, and that I can use the money towards buying furniture for my new home. I've outlined below some of the stipulations of the program as stated by the IRS:

1. You must be a "first-time homebuyer." To be what the government is considering a "first-time homebuyer," you, and your spouse if married, must not have owned any other primary residence during the three-year period ending on the date of purchase of your new home.

2. The home purchase must be made on or after January 1st, 2009 or before December 1st, 2009.

3.The credit does not have to be repaid. This stands true as long as the home remains your primary or "main" residence for a period of 36 months after the purchase. *Note: See the IRS website for information on repayment requriements if the home is sold within the 36 months.

4.Income Limitations. The program begins to phase out or only offer a partial amount of tax credit if your Adusted Gross Income is greater than $75,000 or $150,000 for joint filers.

The other feature that I found interesting is that the IRS is allowing you to claim the credit on your 2008 or 2009 tax return. So, if you are buying your home in the very near future you may be able to benefit from this program quickly, rather than having to wait until filing your 2009 taxes next year.

Be sure to check out http://www.federalhousingtaxcredit.com to get more detailed information on the program. Also, take a look at the following letter released by the IRS, outlining the program: Expanded Tax Break Available for 2009 First-Time Homebuyers

Remember, it's a buyers market! Interest rates are low, and there's plenty of homes to choose from! If you're looking to buy your first home, now's the time to do it!!

Current real estate activity in Marrero LA 70072:

• 199 homes for sale
• Low list price $16,900
• High list price $1,600,000
• Average list price $179,604
• Median list price $148,500

74 pending sales, priced from $31,000 to $399,900

Based on the number of homes sold in March (34), there is a 5.85 month supply of homes for sale (one of the most balanced markets on the West Bank of New Orleans at this time)

Marrero LA 70072 – Number of Homes Sold March 2009

Marrero ended the month with 34 closed sales, bringing the year to date total to 91. The 2009 sales are down from 102 sold at the same time last year. Given that there are 74 pending sales at this time, I would expect to see a fairly significant increase in sales for April, depending on how inspections and financing work out for the buyers.

Here is a breakdown of the 34 sales in March:

• 3 homes were in Fair condition with an average sale price of $69,466
• 7 homes were in Average condition with an average sale price of $88,192
• 4 homes were in Very Good condition with an average sale price of $141,250
• 17 homes were in Excellent condition with an average sale price of $162,826
• 3 homes were New construction with an average sale price of $217,886

Obviously, the condition of a property has a strong impact on the price that buyers are willing to pay. Do you need help getting your home ready to sell? Read Getting Your Home Sold in This Market - 10 Steps to Success According to Professional Home Stagers

Marrero LA 70072 – Average Home Sale Prices March 2009

The average year to date home sale price in Marrero is $138,307. The median year to date price (half of the sales were higher and half were lower) is $125,000. Average Marrero home sale prices are down about 11% from 2008.

Year to date, there have been 21 sales with conventional financing, 17 cash sales, 43 FHA sales, 4 VA sales and 7 other types of financing. With such a large percentage of FHA sales (47%), many buyers are asking for and receiving assistance from the seller when purchasing a home.

In March, 12 of the 34 sales (35%) had sellers providing an average of $4,518 in closing cost assistance to the purchasers. This is an important number to know when pricing your home! Be sure that your agent can provide you with adjusted sales numbers to get a true picture of what homes are selling for in your neighborhood.

All data provided by GSREIN and is deemed reliable, but not guaranteed.

More about West Bank real estate:

• Search for Marrero homes for sale
• Search for West Bank Homes for Sale
• Find out what's going on in your West Bank neighborhood with a free online market analysis

The West Bank Living Team provides professional, local real estate services for buyers, sellers and military relocations to NAS JRB New Orleans. Please feel free to contact us with your real estate needs.

Come out and support Saint Agnes School in there largest fund raiser of the year. Hope to see there!

The Bands Playing

TOPCATS
Fri April 24 - 8:00 p.m. - 11:00 p.m.

The Refugeze
Sat April 25 - 7:00 p.m. - 10:00 p.m.

The Gas House Gorillaz
Sun April 26 - 5:00 p.m. - 8:00 p.m.

Come reside in this wonderful place to call home.

Hardwood floors, custom cabinetry on granite countertops. Brand new appliances compliment the ceramic tiled and hardwood floors. Details abound as lighted by quality ceiling fans and recessed lighting throughout.

Priced to rent at only $950.00 per month.

Call Ian at 615-2333 to make an appointment.