The Year End Report

 

 

Holiday Wreath Hanukkah Candles
Happy Holidays!
Seasons Greetings!
The Saints are in 1st Place, we have a new Mayor, we thankfully avoided the hurricanes, and the Holiday Season is upon us.  All in all it’s been a great year, and real estate, although it’s a slower market, has held up reasonably well.  See the full year end report below. Thanks to you we’ve had our best year ever. We’ve added important new services, launched a brand new website (www.mmnola.com), and increased client access to helpful resources, neighborhood reviews, and more.
 
Downsizing? We are accredited specialists with this process. In addition to our wide range of services, we now offer a new service that helps clients decide what furniture and decorations to keep and how to arrange them in their new smaller living quarters. We’ve seen how this service magically transformed one of our client’s new apartment. They were were delighted!  We also have an expert in personal property appraisal, and related sales, to help further edit belongings.  
 
Need help with real estate decisions? We are very proud to offer our referral to an experienced and caring Licensed Counselor who can sensitively help individuals, and families, make their best decisions. When faced with difficult real estate challenges, and/or the disposition of belongings, take advantage of this affordable and exceptionally helpful assistance. You’ll be very pleased by how this service can help you resolve challenging issues.  (Real Estate Counseling).
A New Addition. We are delighted to announce the January 2018 addition of a new and very experienced partner who is a highly regarded real estate agent. With this addition, you will have access to the strongest real estate team in greater New Orleans.  We provide world class service, advice, issue resolution, property valuation, marketing, Commercial, Residential and Historic property sales, certified ReLo service, and…success. 

 

One call gets you everything you need. We’re backed by working relationships with a very experienced crew offering every conceivable support and vendor service you might need. Make just one call for everything you need to successfully buy or sell in greater New Orleans.
We’d appreciate it greatly if you’d share this report with your friends, and family.
Thank you for your trust, and business. We wish you and your families a blessed Holiday Season, and great health, happiness, and success in 2018!
Sincerely,
Mary Margret Kean
504-330-0374
Middleton O’Malley
504-579-4717
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The 2017 Year End Report…

 

 
My signature
These observations primarily apply to demand areas in greater New Orleans. Sales stats are for multi bedroom multi bath homes. 
After consultation with lenders, a bank president, other agents, and analyzing MLS statistics, here’s the story.
  • Price Trend – Small upward movement.  Best located and most desirable homes = biggest gains. Greatest gains came between 2013 and 2015.
  • Inventory Level – Up.  Just under 6 months.  Sellers Market 0-4 Months.  Balanced Market 5-6 months. Buyers Market 7+ months.
  • Expired Listings – Up.
  • Price Reductions – Up.
  • Days On Market – Up.  But it’s affected by location, price, amenities, and condition.  If well staged and located, 30 – 45 days.  If not under contract within 45 days, one or more of those four items has a problem.  Over-all, NOLA real estate is in reasonably good condition, but slower than 2013-2015.  Let us help you stage, price, promote, and target market.
  • CBD Condos For Sale – Up.  It’s over-built, more coming; still suffering from the movie Industry leaving town. Prices coming down. Good deals by April.
  • French Quarter Condos For Sale – Up.  New regulations prevent short term leases in significant portions of the FQ.  Think devalued.
  • To sell in the least amount of time, in any location, a home has to be well staged, priced right, and professionally marketed… if not, sellers will pay with increased time to sell and a diminished final sales price. Be competitive! We can show you how. As the market slows down, it’s not a time for amateurs.
  • Thinking about selling it yourself?  Nearly 80% of For Sale BOwner’s will be listed with agents. There’s a reason. Let us show you our value.
  • All Lenders/Banks are not the same.  Examples: Buying a double?Some lenders want much more down payment than others. Some don’t understand the eccentricities of self-employed income. Others have horrifying process requirements. Shop around for the best answers. We know good lenders who can help.
  • There are no more good doubles for sale in demand areas of Uptown New Orleans or the Irish Channel for under $400K. Look in Mid City, Algiers Point, Holy Cross, and Gentilly. (Jeff Parish too). Call us.
  • Rent prices (short and long term) have softened to some degree, especially in areas previously occupied by movie industry employees. But Uptown rents continue to be expensive. Well located two bedroom homes in good condition for around $2,000/mo…very difficult to find.
  • Spending $2,000+/mo on rent?  Why not buy a home?  Really, why not?
  • Four small areas with big reasons to live there.
#1. The perfectly located area inside of Magazine St, The Zoo, Tchoupitoulas, and Jefferson. A great small town with every amenity. Could be best in city.
#2. Dante to Pine, St. Charles to Neron.  Similar to #1 but at a lower price point. Avoid buying near student rentals close to Tulane. Otherwise, it has many excellent opportunities. A favorite.
#3. Mid-City, bounded by Orleans Ave, Moss St, and City Park Ave.  One of the best locations in the city. Can’t say enough about the location.
#4. Holy Cross (& parts of Arabi). Cool social mix, interesting history, lots of cute architecture, artsy, more trees and bigger lots than Bywater, affordable housing. Nice homes between $200-300K.
* Want to move to a low crime California suburb with a lot of (mid-century) modern homes and good amenities, but don’t want to leave New Orleans?
Buy in Lakeview, Lake Vista, or Lake Terrace.
We know this city, and we can help you buy or sell with the least amount of stress and the maximum amount of satisfaction.
Check our reviews!
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For Rent…
Coming Soon!
Classic NOLA Apartment

 

The entire first floor of a gracious New Orleans home owned by the same family for generations.

 

 

 

 

Over 2600 sq ft, 3 bedrooms, 2 baths, wood floors, updated kitchen, separate living and dining rooms, den, breakfast area, office, laundry room, architectural features. Fab location.  $3,000/Mo.

 

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Homes For Sale
 
Coming soon…
#1.
A truly beautiful

 

Uptown Condominium

 

3 bedroom 2 bath 

Classic design
Exquisite condition
Ideal location
$450,000-ish.
#2.
Think perfect retirement cottage.
Yeah, it’s pretty much a wreck and it doesn’t have much of a back yard, but it’s a cute wreck on a terrific street, with easy parking in front, surrounded by pretty homes, and in one of THE most desirable sections of Uptown N’Awlins.

A 7 minute stroll to Whole Foods, 4 minute walk to Clancy’s, 10 minutes to Audubon Park.  No better location.

About 1300 sq ft…was a double now a single.  Needs complete renovation.

We’re thinking  $325k+.  
 
More soon!
All of our current listings have been sold…
We can sell your home too!
A few of our SOLD! properties
 
 7304 Plum St. NOLA          8016 Hickory St, NOLA      7521 Jeannette St. NOLA
 Historically Important         Superbly Restored                  Raised Cottage

 

 
 7903 Freret St.                                   1108 Henriette Delille
 Exquisite New Orleans Luxury            1 blk to The Quarter-Treme Masterpiece
Middleton O’Malley  504-579-4717 

Mary Margaret Kean  504-330-0374

 

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Visit our New Website!

www.mmnola.com

 

 

 

Mary Margaret Kean
mmknola@gmail.com
504-330-0374

 

Middleton O’Malley
ABR, GREEN, SRES, GRI
middleton@amnola.com
504-579-4717

Agents licensed in Louisiana, and Maine

Coldwell Banker TEC, Realtors
4500 Magazine St. Suite 2, New Orleans, LA 70115
504-899-4040
Each office independently owned and operated

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