Kenner, LA

First Time Home Buyer
$8000

Ends November 30 2009

Now that some of my buyer have closed on their first homes, the fun stuff begins. First Time Home Buyers will have to attach Form 5405 with their income tax this spring. The form seems straight forward but I always recommend the use of a qualified tax professional when it comes to these matter. Take a look at the form for the information you will need to support your use of the form.

Link to the First Time Buyer Credit Form

Highway Park Kenner LA

Spotlight Neighborhood: Highway Park

In the City of Kenner, there lays a quiet, well established neighborhood. The area is Highway Park. This area began developing in the 1960's. How would I know, I grew up there. Many of the street names are named after states. My childhood home was in the 2600 block of Kansas. Many of those original buyers are still living in the area. This area when it comes to real estate sales and listings is not very activate due to the stable environment of Highway Park. Inside Highway Park you can find churches, schools and public playground.

The bounding streets of Highway Park:
Williams Blvd.
West Esplanade Ave
Power Blvd.
I - 10

The City of Kenner offers all the modern amenities that you find in any City. Kenner is the 7^th largest city in Louisiana.

Check back shortly, I will post a market report for Highway Park.

Homes for Sale in Louisiana see a Bright light

Homes Prices in Louisiana sees a small drop compare to National averages. The Federal Home Price (FHFA) index showed in November 2008 housing cost fell by 1% in our region which includes Louisiana, Texas, Arkansas and Oklahoma. The west coast saw the biggest drop at around 8%. At these levels the price of homes in our area about the same as they were in 2005. Prices fell in 43 states, with California and Nevada showing the biggest declines.

Thinking of selling or buying a home in Louisiana? Interest rates are at their lowest points in several years. With the choice of selection in this market inventory, you can be in a new home in a short amount of time. Interest rates, insurance premium appear to be settling down and lots of inventory to choice from now is the time to act. Want to purchase or sell your property in the River Parishes, Kenner, Metairie, Slidell, Arabi, Baton Rouge and Houma, Louisiana.
Contact me Frank Rubi or any member of Team7824, We will be happy to answer any questions and help you in this very important decision. I will make your buying or selling experience stress free.

Pick up the phone and call me at 504.319.9696 or email us at rubi@7824.com.

In addition visit my websites: http://www.7824.com/

Frank Rubi, e-PRO, MBA, REALTOR®

Follow me on Twitter/frankrubi

Louisiana Fair Plan

One of my personal investment properties in Kenner, LA suffered damage due to Hurricane Gustavo in August. After several claims with the Louisiana State Fair Plan, I have found the best way to deal with them is to be proactive. My latest claim dealing with Hurricane Gustavo is almost finish. Last week the first week in December I receive my first check from the insurance company. Approximately 100 days since the claim occurred. There was some redirection as you may know; now the check needs to be endorsed by my bank. After receiving the break down for the lost I notice my rental loss income was not included. I had provided a copy of the rental agreement to the insurance adjuster. On a follow up call they responded that they had not received the copy of my rental agreements. I then faxed a copy and still not accounted for. After sending 4 copies they finally had a copy in my file. The problem is that the claim had already moved to the reviewers. Now this would be handle separately. This is normal course for the Fair Plan. My advice is to call and check and recall until the entire process is completed.

The Fair Plan is the only source of insurance for investment property in Louisiana at present.

If you have any questions on dealing with investment property or insurance claims dealing with investment property feel free to email.

Kenner Condos, A Market Update! Stay with the Best for future value!

The Kenner Condo market attractive to condo buyers as the prices are very reasonable and the commute times to Metairie and New Orleans are not bad. There are however two distinct markets with one much much preferred over the other for appreciation and quality of life. The complexes built as condos are the best way to go. The conversions are much more problematic and their future value unknown. The current trend is down!

The Avante Garde Condos, Rue Chardonnay, Cobblestone Village and Bordeaux Village are my favorites over the many recent condo conversions from apartments. This group were built as condos as thus have common areas, gated entry and mature condo associations that add value.

The value trends favors these associations as they are better managed and end up being better maintained with common areas that add value. It is much harder to get financing on many of the conversions. The trend favors the nicer places to live that look like neighborhoods. The group can be financed FHA which gives you a better chance for resale value in the future.

As long as the complexes are well managed and kept up to a top level, the trend will continue. There are several groups of condos on Chateau Blvd. that were built as condos that also seem to do well and the turnover of these town-home style do have have much turnover.

Most of the units are two bedroom units which are preferred along with many 3 bedroom units in Rue Chardonnay. The Kenner Condos are larger than other segments of the New Orleans market as they were built as condos twenty plus years ago. That was when the land was much cheaper and there was plenty available.

Avante Garde Condos, Kenner

Currently there are only 4 units for sale at Avante Garde at prices varying from 118 to 159k. You should be able to get the better floor plans for around 150k that has some updates. This is not that many for a complex of over 200 units. These FHA approved meaning 3% down is possible. Good value for the 140's. Do not expect something fully updated for less than 150k.

Rue Chardonnay Condos, 1500 West Esplanade, Kenner

There are 17 units for sale at Rue Chardonnay ranging in price from 150s for the two bedroom units to the upper 160s for a three bedroom unit. The three bedroom units give you the most space and value of any in Kenner. The condos are among the largest with each being 1725 sq. ft of living with one bedroom down and tow upstairs. All are townhouse style units. Many have been updated since they received water during Hurricane Katrina from a Canal that over flowed.

Bordeaux Village Town-homes

There are two units for sale here and they are both in the 150's range. These tend to have very little turnover as many people have been here for a while. They are actually fee simple town-homes but we tend to think of them as condos just the same.

Interest rates are lower than I can ever remember this week. They hit 4.5% yesterday so if you are the fense about buying now is a good time to stop paying rent.