It’s amazingly easy to play with statistics and write stories about impending doom in the real estate market. What’s more amazing is that many people are inclined to believe them!  That’s why newspapers are full of this stuff…doom sells.

Don’t let any naysayer take your joy from you.  If you want to buy a new or bigger home, and you can truthfully afford it, go buy one!  If you can’t, don’t!  If you want to sell, in the modern market there’s never a bad time to do so.  Stage it and price it correctly, you’ll get action.  Our greatest risk is hurricanes and floods, not a down-turn in gated communities in Las Vegas.

There’s a large segment of Nola’s population that will never leave, a surprising number of new arrivals, and an equally surprising number of Katrina evacuees who just want to come home.  N’Awlins is a wonderful place to live! So, forget the low brow doomsday reports, use your brain, and do as you please.

Location, condition, amenities, and price, are primary qualifiers for property.  While low end real estate, no matter where you are in the USA can be somewhat problematical, quality real estate in greater New Orleans is worthy of your long term confidence.

If you have questions, or need assistance, Email, middieomalley@yahoo.com, or call anytime at
504-579-4717, and I’ll be happy to respond.

Where Are We Now?

No appreciable change from six months ago.  Good properties are selling at fair prices.  Sellers aren’t gouging buyers, and buyers aren’t stealing a thing unless it’s a low grade and/or poorly located property.  Quality New Orleans real estate is somewhat immune from national trends and worthy of your confidence. Katrina caused the last downturn in activity/pricing, not the national economy.  Hint: Sellers get the best bang for their buck when their property is decluttered, cleaned up, and staged well.  Nobody wants to buy a bruised tomato.

Where Are We Going?

All Ahead Stable:  At first I was petrified by the potential long term effects of the BP fiasco.  After speaking with some youthful movers and shakers involved with the future of New Orleans; fellow Realtors, and friends in commercial banking, it seems that New Orleans, a city that lives on tourism, conventions, and shipping, will not feel a hard, direct shot from this sad disaster.  The loss of Avondale will have a greater effect.  There is no indication that quality real estate in greater New Orleans is crusin’ for a downturn, and certain sections of town, such the best sections of Mid City, Uptown, Marigny and Bywater, are experiencing  very modest increases.

The BP Disaster

A part of the USA’s cultural heritage, indigenous music, unique food, the survival of numerous varieties of migrating wildlife, and the livelihood of many marvelous men and women who harvest what is arguably some of the finest seafood caught in the USA, has taken it right on the chin.  We’d better wise up quick and do a better job of protecting and rebuilding our shores and wetlands.  Continued damage/loss will ultimately destroy this incredibly important area, and eliminate a home and a way of life for countless species be they feather, paw, shell, human, or fin.

How does this affect New Orleans?  If we loose the remainder of the already ravaged wetlands we will also loose what remains of the flood/hurricane barrier that has historically protected our city.  A high percentage of Americans do not give a damn about this issue.  We must face this problem ourselves, step up to the plate, and make it our #1 priority.  Speak out now! Call or write your State or Federal Representative and tell ‘em that you’re mad as hell and you’re not going to take the lack of heavy duty action anymore!

Refinancing

Here’s a good rule of thumb.  If you can achieve a full percent point of reduction in your mortgage rate, look into a ReFi.  Rates are stupidly low at the moment which also makes this a good time for doing an equity-out ReFi. Talk to a few banks and mortgage companies before borrowing.  All are not made equal.

Spending Your Money After Mortgage Approval

Are you buying a home and think that your excellent credit will pave the way to a low interest mortgage? If so, that’s great!  But remember this…once you have that mortgage approval, DO NOT go out and buy all the furniture you ever wanted before the closing.  New regulations force lenders to do ANOTHER CREDIT CHECK just before the Act of Sale and if you’ve made a large purchase that could possibly change the debt to income numbers they work with, you could be in real trouble.

An Interesting And Frightening Statistic

Historically, the highest percentage of home foreclosures happens within 90 days after the closing.  Why, because some people can’t wait until they are fiscally solid before buying all kinds of stuff to fill the home they just bought.  Especially true with first time home buyers.

So, You Want To Become An Agent?

As a Realtor friend of mine once said, “Being a real estate agent ain’t for the faint of heart”.  There’s risk and hard work involved.  And you need to be a dedicated student of the industry.  In short, it is only through day to day, full time experience that you learn enough to be of real value to a client.  There’s no such thing as a part time agent.  I worry when I hear someone say, “I think I’m gonna get a real estate license in case anyone in my family, or one of my friends wants to sell or buy”.  This is naive thinking, and equally so on the part of family or friends who will do business with a perpetual rookie. Perhaps they ought to take their car to a part time mechanic, or invest their money with a part time investment broker.  Real estate is a demanding, full time occupation.  You either is, or you ain’t.

For Sale!

1024 Constantinople St, New Orleans
A Charming & Beautiful Side Hall Victorian
(Photos & Video @ www.middieomalley.com)
Incredible Location!  Walk To Magazine, &  St. Charles Ave.
3 Bedrooms, 3 baths,  2554 Sq. Ft.
Off Street Parking
Gorgeous Porch,  Master  Bdr Balcony
SS Appliances, Granite Counters
Hardwood floors, Crown Moldings
Lovely landscaping
Original Iron fence
Massage Jet Spa
Private Courtyard.
Move In Condition

Open, Sunday 8/1/10  From 1:00 – 3:00

$529,500

Before putting your home on the market, get it appraised!
One can easily understand why sellers are interested in the street value of their home.  And like most sellers, the first person they’d call for that info is a real estate agent, right?  Let me recommend an improvement on that decision.  Call a licensed appraiser.  It is my opinion that in the majority of cases you are best served by obtaining a professional appraiser’s assessment of a home’s value. Yes, I can recommend a few to you.  Appraisers are licensed specialists, and while their opinion of your home’s value is, an opinion, they get much more specific in their process of evaluation than the average agent who is generally not a licensed appraiser.  Know your home’s street value, up front, and then work with your agent.  If your agent is savvy, they will be the first to tell you to have your home appraised.

Before putting your home on the market, get it inspected!
During the selling process, being in the informational driver’s seat means having a lot more self-confidence in your, and your agent’s, decisions.  In addition to an appraisal, get your home inspected so that you know its condition up front, and what needs to be done to bring it up to saleable condition, or at least to know what the buyer might ask to have repaired.  Wouldn’t you like to have full knowledge of your homes condition before you are presented with an inspection response from the buyer?  You are in a much better position to know if the buyer is asking for something reasonable, or if you are being taken to the cleaners.

Do you know what Dual Agency means? 
While there are other legal explanations, and it is legal in the State of Louisiana, in a nut shell it means that an agent can represent both the seller, and the buyer.  I recall a class I once took where the instructor was covering this subject.  Her opinion was, in the case of Dual Agency, “you have to provide a higher level of representation”.  To me this is sheer rationalization to justify getting both sides of the commission.  My advice to you, think long and hard before signing the form that authorizes Dual Agency.  Personally, I won’t do it; the risk of a diminishment in service to either one, or both parties, is too great.  Think about it, can an attorney effectively represent both parties in a divorce?   In most cases, the answer is no.

1. Hire an ABR Agent: Remember, you’re buying what may be your biggest asset.  Maximize your buying power, and avoid making costly mistakes. Hire a good, ABR designated agent, (Accredited Buyer Representative), to assist you.  Being related to an agent, or living near one, is not grounds for hiring them. Because an agent has a lot of For Sale signs, is not a good reason to hire them. If an agent has a lot of listings, will they have time to devote real attention to you?  Think about it.  ABR designated Buyers agents are specially trained to provide improved service to Buyer clients.  A good ABR Agent will put you at ease, and clarify the whole process for you.  Interview a few, or get a testimonial from one or two of their prior clients, and hire who you get along with. It’s a team effort so it’s important to not only have a skilled ABR agent, but also one you like.

2. Get qualified by a quality lender: Don’t have a lender, or don’t have confidence in your lender?  Your ABR Buyers agent will help you find one. Lenders will provide you with information critical to the process, most notably, what you can afford.  They will also tell you all about the current programs available to you.  Get qualified before you start looking.

3.  What about the FHA? The Federal Housing authority is writing up to 40 or 50% of new home loans. Changes to their current policies to be enacted not later than this summer, will lower a sellers ability to pay pre-paids and closing costs, and increase a buyers insurance percentages.  They’re all found on the following link.
http://www.nytimes.com/2010/01/20/business/20home.html

4. Everything you need to know about Federal Tax Credits for 1st time buyers, and current owners who want to buy a new home. The following link to a National Association of Realtors®website tells the full story!
http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit

5. Thinking about buying a multi-unit home? Many first time buyers want doubles or a duplex, or even a triple, to help offset the mortgage, and increase buying power.  A grand idea, but I caution you about buying triples.  FHA requirements are more stringent with triples which can cause a problem with financing. You will need more money to close than if you bought a double.  So, your most uncomplicated choice would be a double, or a duplex.  But both are a hot items and becoming increasingly difficult to find.  Here, patience is a virtue.

6.  Don’t forget about insurance! Insurance is a component of finance, and your insurance agent can tell you everything you need to know.  But here are a few things to keep in mind:

a.)  If you buy a home in a flood prone area, also buy a bridge policy that covers you for the first 30 days before your new homeowners policy kicks in.  (Ask Lakeview residents who bought their home in August of 2005)

b.)  All insurance companies are not equal…shop your homeowners policy.

c.)  Even if your home was flooded, if it was significantly renovated, roof, electric, windows, A/C, plumbing, etc., you can get a better deal than LA Citizens.  Ask your insurance agent.

d.)  Buying in a flood zone, before making an offer, get a flood elevation certificate.  It could lower your cost.

e.)  Buying a flooded home?  You had better get a real deal, mold remediation certificate, from the seller.

7.  When your agent can’t be there to show you a home: Sometimes schedules simply can’t connect, and you may want to see a home right then and there.  What do you do?  First, call your agent and have them set up the meeting with the listing agent.  If you can’t reach your agent, my advice is to have patience, and contact them as soon as possible.  If your Buyer Agent is worth their salt, they will probably return your call/text/email within very short order.  Allow your Buyer Agent to handle the show, and eliminate possible problems that can occur if you contact the listing agent directly.

8.  When do you make an offer? The answer is straight forward, when you feel comfortable doing so. But I will tell you this, if you really like the home, if you feel that pull to own that home, and it’s a desirable residence in a good location, do not mess around by taking days to make your decision.  You stand the chance of losing what you want to another buyer

9.  How do you know what you’re buying? The selection of a home is a very subjective thing.  It’s emotional, like art.  You know what you like when you see it. But the reality is that homes are mechanically complex and they will need to be fully inspected before purchase.  If your inspectors report does not meet your needs, or causes you deep concern, you can ask your agent to get you out of the contract with no penalty.

10.  How does a Buyer Agent get paid? From the proceeds of the sale as outlined in the MLS by the listing agent, or as negotiated by your Buyer Agent with a FSBO, (For Sale By Owner).  You’re normally not obligated to reach into your own pocket to pay a Buyer Agent.

New & Notes

Are You Buying?? Here’s 10 Essential Tips

1. Hire an ABR Agent: Remember, you’re buying what may be your biggest asset. Maximize your buying power, and avoid making costly mistakes. Hire a good, ABR designated agent, (Accredited Buyer Representative), to assist you. Being related to an agent, or living near one, is not grounds for hiring them. Because an agent has a lot of For Sale signs, is not a good reason to hire them. If an agent has a lot of listings, will they have time to devote real attention to you? Think about it. ABR designated Buyers agents are specially trained to provide improved service to Buyer clients. A good ABR Agent will put you at ease, and clarify the whole process for you. Interview a few, or get a testimonial from one or two of their prior clients, and hire who you get along with. It’s a team effort so it’s important to not only have a skilled ABR agent, but also one you like.

2. Get qualified by a quality lender: Don’t have a lender, or don’t have confidence in your lender? Your ABR Buyers agent will help you find one. Lenders will provide you with information critical to the process, most notably, what you can afford. They will also tell you all about the current programs available to you. Get qualified before you start looking.

3. What about the FHA? The Federal Housing authority is writing up to 40 or 50% of new home loans. Changes to their current policies to be enacted not later than this summer, will lower a sellers ability to pay pre-paids and closing costs, and increase a buyers insurance percentages.  They’re all found on the following link.

http://www.nytimes.com/2010/01/20/business/20home.html

4. Everything you need to know about Federal Tax Credits for 1^st time buyers, and current owners who want to buy a new home. The following link to a National Association of Realtors®website tells the full story!

http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit

5. Thinking about buying a multi-unit home? Many first time buyers want doubles or a duplex, or even a triple, to help offset the mortgage, and increase buying power. A grand idea, but I caution you about buying triples. FHA requirements are more stringent with triples which can cause a problem with financing. You will need more money to close than if you bought a double. So, your most uncomplicated choice would be a double, or a duplex. But both are a hot items and becoming increasingly difficult to find. Here, patience is a virtue.

6. Don’t forget about insurance! Insurance is a component of finance, and your insurance agent can tell you everything you need to know. But here are a few things to keep in mind:

a.) If you buy a home in a flood prone area, also buy a bridge policy that covers you for the first 30 days before your new homeowners policy kicks in. (Ask Lakeview residents who bought their home in August of 2005)

b.) All insurance companies are not equal…shop your homeowners policy.

c.) Even if your home was flooded, if it was significantly renovated, roof, electric, windows, A/C, plumbing, etc., you can get a better deal than LA Citizens. Ask your insurance agent.

d.) Buying in a flood zone, before making an offer, get a flood elevation certificate. It could lower your cost.

e.) Buying a flooded home? You had better get a real deal, mold remediation certificate, from the seller.

7. When your agent can’t be there to show you a home: Sometimes schedules simply can’t connect, and you may want to see a home right then and there. What do you do? First, call your agent and have them set up the meeting with the listing agent. If you can’t reach your agent, my advice is to have patience, and contact them as soon as possible. If your Buyer Agent is worth their salt, they will probably return your call/text/email within very short order. Allow your Buyer Agent to handle the show, and eliminate possible problems that can occur if you contact the listing agent directly.

8. When do you make an offer? The answer is straight forward, when you feel comfortable doing so. But I will tell you this, if you really like the home, if you feel that pull to own that home, and it’s a desirable residence in a good location, do not mess around by taking days to make your decision. You stand the chance of losing what you want to another buyer

9. How do you know what you’re buying? The selection of a home is a very subjective thing. It’s emotional, like art. You know what you like when you see it. But the reality is that homes are mechanically complex and they will need to be fully inspected before purchase. If your inspectors report does not meet your needs, or causes you deep concern, you can ask your agent to get you out of the contract with no penalty.

10. How does a Buyer Agent get paid? From the proceeds of the sale as outlined in the MLS by the listing agent, or as negotiated by your Buyer Agent with a FSBO, (For Sale By Owner). You’re normally not obligated to reach into your own pocket to pay a Buyer Agent.

For Sale!

760 Magazine St., #213, NEW ORLEANS

Just what you’ve been looking for! A superb

one bedroom, 1.5 bath, condo in a fabulous

building, situated in a 1st class ”walk to

everything” location in the Warehouse

District. This move-in-condition condo

features a stainless and granite kitchen with

first rate appliances, an in-condo laundry

room, loads of closets, lots of light, a pretty

view, and a roof top terrace with truly

spectacular views that’s perfect for entertaining.  You also have a storage

locker, and electronically gated parking! Topping it off, there are low

monthly condo fees, and an excellent management company! $295,000

LAND!

25 EAGLE TRACE,

THE SANCTUARY, MANDEVILLE

SITUATED IN A SPECTACULAR AND HIGHLY DESIRABLE GATED COMMUNITY, (THE SANCTUARY), THIS HUGE, SYMMETRICAL, 3.36 ACRE LOT OFFERS A VERY UNIQUE

OPPORTUNITY!

BUILD YOUR DREAM HOME ON A TRULY PRIVATE PIECE OF PROPERTY THAT BACKS UP TO CONSERVATION LAND WITH UNSPOILED NATURE TRAILS!

THE SANCTUARY OFFERS SWIMMING POOLS, A BALL FIELD, LIGHTED TENNIS COURTS, AND A GREAT FITNESS CENTER!  A RARE FIND IN A TRULY ONE OF A KIND LOCATION!

$295,000

Call 504-579-4717, or email middieomalley@yahoo.com.

_________________________________________________________

ON THE TOWN!

“Chickie Wah Wah” A 1st Class Jazz Club

Many of you are aware that for several years I hosted a Friday morning Jazz Show on WWOZ.  Jazz is a great part of New Orleans heritage, and it’s wonderful to find out about excellent venues that feature 1st class musicians.  Chickie Wah Wah, at 2828 Canal, is such a place.  The Monday night gig with clarinetest Evan Christopher, is totally off the charts, and the Wednesday gig with John Boutte, is a cool as it can be.  Non-smoking, clean bathrooms, an adult crowd, decent food, and generally a 7:00 PM start time, all add up to Chickie Wah Wah being a club not to be missed!

Check out this link for details. http://www.chickiewahwah.com/

If you are in the market for a home, as I have been saying, do not delay, buy now.  These historically low interest rates will not last forever, and we are well past the bottom of the market.

First time buyers still have enough time to find and buy a home prior to November 30th when the $8,000 first time buyer tax rebate ends.

On another subject…the process of selling a home can be difficult, and emotionally distressing.  The very act of moving is stressful enough all by itself!  This issue focuses on several aspects of the emotionally draining process of moving…and how to make the best of it.

For all of your real estate needs, I remain at your service.

Selling a Home? It’s an emotionally charged process!

It is a well known fact that part of the job description for any good real estate agent is, psychiatric counselor. Among the more stressful things a person or family can experience is moving, and the process of selling can be difficult. Are you thinking about selling your home?  Here are a few thoughts you might consider.
Do you smoke? If you do there is a strong possibility that your home smells of tobacco smoke, an aroma that many people consider to be offensive.  Like someone buying a used car, if it has been previously owned by a smoker, that car will have fewer potential buyers.  If you want to sell your home to the broadest range of potential buyers, stop smoking inside, air it out, have the carpets cleaned, do anything necessary to get rid of the tobacco odor.  But try telling that to a client who smokes.  Nicotine addiction rules so when I recently informed a potential selling client that the odor from his smoking could put off a good number of potential buyers…well, three Marlborough Lights later, he had made no comment about that revelation.

Have you collected a lot of “stuff” over the years? If you are like most people there is a ton of accumulated “stuff” decoratively placed throughout the home.  While the rest of my own home is, shall we say, moderately under control, “stuff” wise, the office where I am writing this article is completely out of control, and I have absolutely no intention of organizing the clutter.  My cleaning lady just left, but before she did she stopped in the office and smiled when she looked around, “I touch nothing here”, she said.  To which I replied, “For God’s sake don’t”.  Parting with “stuff” with sentimental value or simply the inability to part with “stuff” period, will absolutely, positively, diminish the potential for selling a home.  If I ever intend to sell my own home I’m doing two things, 1. Hire a shrink to help me throw certain things in the garbage can. 2. Clean out this office.  Declutter your home in order to allow potential buyers to see where their “stuff” can go.  How you arrive at the decision to do so may take professional help, but for the effort, you will be rewarded.

What process are you going to use when hiring an agent, and pricing your home? If I hear “I’m going to hire a friend of mine to sell my home” one more time, I’m going to shoot myself!  But I’ve heard people say this many times, and something that’s even worse, “If I don’t hire so and so, they are going to be really mad at me!” We are talking about your money here; maybe the source of a great deal of your money, or money you need to buy another home.  Being friends with someone or socially afraid of them is no criteria for hiring them.  Yes, the possibility that someone’s friend actually knows what they are doing certainly exists.  But to not interview three agents before deciding to hire one tells me that the seller has little understanding or appreciation for what a really good real estate agent can do for them.  Sticking a sign in your front yard and advertising your home in the Times Picayune at an inflated price that gets you all excited is not a written marketing program.  Sellers who park their egos and social sensibilities and demand verifiable, competitive pricing, that shows where a home ought to be positioned in the market, along with a 1st class written marketing program makes better sense.  If a seller falls for a high number suggested by a real estate agent who only wants the listing, good luck!  In the current market a home that isn’t correctly priced up front will inevitably wind up selling for less money than had it been priced correctly in the first place.

Are you reluctant to do a few things to spruce up your home before sale? Unless you absolutely can’t afford to do so, which is completely understandable, it is essential that your home puts its best foot forward before going on the block.  And I don’t care how high or low the asking price might be.  Deficiencies like cracked bathroom mirrors, broken or missing electrical outlet covers, visible rotted wood, defective appliances, slow drains, broken windows, rotted weather boards, (had a buyer, just the other day, walk from an otherwise great house for this one reason), rusted railings, peeling trim paint, door knobs that fall off, broken bathroom fixtures, you get the picture.  Buyers see all of these things and just one or two of them, although a seller might consider them to be minor, can greatly diminish the real value of a home.  Another good idea is to hire an inspector to go through your home prior to sale.  Recently, after suggesting he hire an inspector up front to really know about his home’s condition, a seller told me, “There is nothing wrong with this house”.  Fat chance!  If you find out up front, you are in a much better position to defend against an inspection made by a buyer’s inspector.  So, fix it up, and then have it inspected, before going on the market. You will sell your home faster, and for more money.

A friend of mine once told me, “You have to move in to your home in order to move out”.  I think the logic works.  A few bucks, and little effort, goes a very long way toward getting your home sold in the shortest amount of time possible.

For Sale!

A lovely cottage in move-in condition awaits you!

$148,500

A unique opportunity to build your dream home on a truly private piece of property.

$295,000

The Dawn of Green, Had Better Dawn on Us! This article is a heads up for what’s coming in the not too distant future…our grand kids are going to want something more than Granite counter tops.  And those little darlin’s, now eight or nine years old, are going to be the Green Savvy buyers of the future.  Learn what these kids will want when they come to buy your home in twenty short years.

Rumors about HUD allowing the $8,000 first time home buyer tax credit to be used up front with FHA loans are proving to be unreliable.  Probably too much risk for abuse.

Although some movement in the bond market, and a rumored reduction of the paper value of  US debt is causing some up movement on interest rates, they continue to be ludicrously low. Anyone complaining about anything under 6% need only to look back a few years when an 8% loan was thought to be fabulously low!  Buy now, if you can, by all means buy now.

Please go to my website and take a look at the new feature called, Client Testimonials. You can get to the site in the helpful links section of this newsletter and find the Client link on the upper left hand corner of the home page.  Listen to what my clients say about my service!  If you, or anyone you know, need an experienced, competent, and caring agent, call me to schedule a consultation.  504-579-4717

For all of your real estate needs, I remain at your service.

The Dawn of Green, Had Better Dawn on Us

I saw something the other day that gave me a very clear glimpse into the not so distant future.  It was a whole gaggle of eight or nine year old school kids, maybe fifty of them, walking along the Mississippi levee bike path. Every single one of them had on a green T-shirt to signify their environmental sensitivity.

When these kids grow up, and kids grow up fast, they will have experienced years of environmental indoctrination.  A large number of these kids will be very inclined to protect the environment, use sustainable resources, and demand products that are gentle on Mother Earth.  Others who don’t share their sensitivity will be viewed as being socially irresponsible.  Think about this…in the past twenty years or so there has been a major shift away from smoking cigarettes.  In fact, for most non-smokers, as well as those who have quit smoking, watching someone smoke provokes a sequence of negative thoughts about that person. Take it a step further, you’re following a car, the driver’s side window rolls down and out flips a cigarette butt.  Now, what are you thinking?

The point is this; these kids are developing habits of behavior not shared by many of older generations. It has been a wildly convenient, garbage generating, resource sucking, ride, for most of us, and not much thought has been given to the massive amount of refuse we generate, or fuel we use on an almost daily basis.  But what would one of these kids think if they knew that their neighbor didn’t give a hoot about recycling, and drove some gigantic gas guzzling SUV? Not good.  As the generations below us baby boomer types come into their own we will be, to what ever degree, socially marginalized unless we begin to make an effort to respect our green planet.

By now, you might be asking yourself, what does all of this have to do with real estate? The short answer is, plenty!  Time goes by at a great galloping pace and before you know it, the house you’ve lived in for twenty years, the one into which you sank a load of money to buy a Sub Zero refrigerator, a Viking stove, a remodeled bathroom, and granite counter tops, is now on the block because the kids are gone, and you and your better half have decided to downsize.  Enter the little darlings I recently saw on the bike path, they are now twenty nine years of age, and in a financial position to buy your home.

“What, no on demand hot water systems? Look at those old time windows; a lot of money is lost through single glass panes, and loose window frames.  I didn’t see any evidence of a recycling service contract being in place, did you?  Can you imagine not having a high tech HVAC system that dramatically reduces airborne particles?  Did you look in the attic?  I think the insulation must have been installed in the Stone Age.  Did you see any LED’s or CFL’s, I didn’t.  And, I didn’t see a water runoff recapturing system either, did you?  And there was no evidence of a floor, or counter top, made from a sustainable or recycled resource.  How about their garden!  It has a load of water sucking plants that are definitely not from this environment.  Well, what can you expect from people that age, anyway?”

Businesses devoted to the GREEN economy are popping up all over the place.  As I was getting out of my car the other day I looked to my right and saw, New Orleans Bamboo, a new store on Magazine St., devoted to the sale of sustainable products including bamboo counter tops, pressed recycled paper countertops, and loads more.  At the home and garden show I met a man who was selling fake grass that looked real, really it did!  Another vendor was selling recycled, antique heart of pine products; including stair treads, beams, and flooring.  Another had on demand hot water heaters.  And this is absolutely the needle thin tip of the iceberg.  And I will tell you this, there are now older homes being remodeled to suit environmental sensitivities.  I was in one recently, a little shotgun in Mid City; it had very discreet solar panels that generated enough electricity that the owners actually sold it back to Entergy…that’s called net metering.

Even though I’m one of the first green designated real estate agents in Louisiana, I know that I can do a whole lot more to bring myself into the dawn of the green age. When I replace my counter tops, I’m going sustainable, and this week, the majority of my lights will be changed to CFL’s.  Just for starters.

One doesn’t want to be left out, does one?

How To Buy A House, Part 2

How To Buy A House, Part 2: Finding A Good A Buyers Agent

The vast majority of home owners have virtually no hesitation when it comes to hiring an exclusive agent to sell their home. So, one must wonder why there is any hesitancy on the part of buyers to hire an exclusive, ABR certified, buyer’s agent to help them find the property they want, and to negotiate the best possible price and terms?

One can only imagine that buyers do not know what an ABR certified agent might be!  An ABR certified agent (Accredited Buyer Agent) has taken additional training that centers directly on how to maximize a buyers opportunities and to insure that all aspects of the purchase go smoothly.  When you hire an ABR certified buyer’s agent, they can do more for you than uncertified agents, and it takes less time to find the right home than if you worked with multiple agents.  You get real focus from an ABR, and they are able to freely search the entire market of available homes, including For Sale By Owner which many other agents completely avoid.  When you hire a buyer’s agent, that agent will work as hard for you as the best sellers agent would work for their clients.

A good buyer’s agent can save you a lot of money and in ways you might never have thought about. How about contract examination, neighborhood assessment, product knowledge, price determination, negotiation, and helping you to find the best lender?  Just to name a few.  A good buyer’s agent will also interview you thoroughly to determine exactly what you want/need, and make their upmost effort to bring homes for your consideration that meets your criteria.

A variety of Buyer’s Contracts are available.  I suggest a six month contract, and one where the buyer isn’t directly responsible for compensating the agent.  Compensation would come from the proceeds of the sale based on negotiated compensation with a FSBO, or as per the advertised commission offered by the seller’s agent in an MLS listing.  I also recommend that should the performance of either party not be up to snuff, that either party could terminate the contract. Finally, I would require that a buyers agent not work with more than four to six buyers at a time.  Beyond that, things get pretty hectic and and an agents can be diminished.

Look for agents with an ABR certification.  An ABR, (Accredited Buyer Representative), means that the agent has been specially trained to work with buyers.  This is a distinct advantage, because less than 10% of agents, nationally, hold this important certification.

The point is this, when you hire a buyer’s agent, you are getting the full focus and attention of that agent.  Hiring a buyer’s agent will give you a much better chance of finding exactly what you want faster than working alone or with multiple agents.  This is proven fact, so when you start thinking about buying a home, hire an exclusive buyer’s agent, one with an ABR, to save you hassle, time, and money.  It’s the smart thing to do.

Go Green!  Save Money!

Have you  heard about the benefits of using 100% Nitrogen in your tires? According to many sources including the Get Nitrogen Institute who offered much of the following info, putting nitrogen in tires is becoming a popular alternative to standard air. Nitrogen is all around us… the air we breathe is 78% nitrogen, 21% oxygen and the rest is small amounts of other gasses.

When it comes to auto tire inflation, nitrogen has many advantages over regular air. With nitrogen tire inflation, improvements can be noted in a vehicle’s handling, fuel efficiency, extended tire life through better tire pressure retention, improved fuel economy and cooler running tire temperatures.  Costco uses nitrogen in all of its fleet vehicles, the FAA requires aircraft tires to be filled with nitrogen which greatly reduces fire hazard.

I bought new tires the other day and it cost me 17 bucks to fill ‘em with nitrogen…some tire shops will do it for free.  It’s another way to save fuel, and makes tires last longer, and anything we do to extend the life of our resources is good for all of us.

I’m proud to announce that the National Association of Realtors has granted me the GREEN Realtor designation.  The training I received was incredibly interesting and relates directly to the use of sustainable materials in the building process, advanced window systems, water filtration systems, on demand hot water heaters, the benefit of Energy Star appliances, cost saving home insulation systems, site development, water run-off management, and the retrofit of older homes to bring them into the new world of GREEN.  These new technologies are exciting and environmentally friendly.  And, long term, going GREEN saves money!

The last 60 days have generated much greater buy/sell activity than in prior months.  But while the market has become more active, remember, there is a load of inventory still available.  It will take a long and sustained period of brisk business to have a noticeable (upward) effect on prices.

Solve Chinese Drywall problems!

For all of your real estate needs, I remain at your service.

The Miracle of Lakeview

As defined by the City of New Orleans Planning Comm. the boundaries of Lakeview are: Robert E. Lee Boulevard to the north, Orleans Avenue to the east, Florida Blvd., Canal Blvd., and I-610 to the south, and Pontchartrain Blvd. to the west.

The flood devastation inflicted upon Lakeview is a matter of record.  But as time moves forward these wounds are healing, and many neighborhoods are recovering.  In a recent conversation with potential clients looking to sell their home I asked about the condition of the neighborhood.  The answer was a very enthusiastic, “terrific”!  This is truly uplifting to hear. So if you are in the market for a great home at what appear to be great prices, in addition to Broadmoor, and Harahan, you can certainly add the miracle of Lakeview to your list.

How To Buy A House, Part 1

The best way to determine how much “up front” money you will need, and get your questions answered is to first, see a quality Mortgage Company, or Bank lender. Don’t know where to find a Mortgage Company? Take a look at this webpage. http://middieomalley.com/ contractors.php.

For Sale!

Live/Rent, or buy for inve$tment

4222/24 Jena: $169K buys you this great double in Broadmoor.  Very Good Condition.  Fully rented at $850 a side.  Very easy to maintain.

UNDER CONTRACT!

This cute, over 2000 sq.ft., Carrollton area, Victorian Double has 2 bd and 1 ba per side, and it’s in Very Good condition.  Both sides rented at $850 a month.  Big Lot!

Call 504-579-4717, or email middieomalley@yahoo.com.

As ever, I remain at your service.

Go Green, Save Money

Chinese Drywall Alert!

The title of this article sounds like something from a SciFi flick, or a grocery store check-out line magazine, but the reality is, according to reports from several sources including a local firm, Gurtler Brothers, a company that provides home inspections and engineering services, that sometime between 2004-2006, certain companies in China manufactured and exported drywall to the USA, that had “sulfur-like odorous components”.  These components can corrode air conditioning coils, copper bearing materials, such as plumbing components, and electrical wiring.  Further, this drywall is capable of causing serious health hazards in both humans, and animals.  Major areas of use were in Florida, and areas hit by Hurricane Katrina.  Once the problem was identified, the big box stores, like Lowes and Homes Depot are reported to have ceased selling it, but all of it can’t be traced.

Who is potentially at risk? Was your home flooded and renovated after Katrina, or remodeled within the past several years?  You have reason to be concerned.  While reports indicate that not all Chinese drywall is at fault, Gurtler Brother’s spokesman, Mike Gurtler, clearly stated that drywall manufactured in China by a German company, Knauf Gypsum, is worthy of immediate attention. The name Knauf is on the back of their drywall.  The difficulty in determining whether or not a home has a problem is significant, and, according to Mike Gurtler, there are no standardized tests.  But if a home owner has problems with a sulfurous odor in the home, or you can see the name Knauf printed on the drywall; or have unexplained pitting of copper plumbing lines, leaking A/C coils, or electrical problems such as degenerating wiring, or TV sets with unexplained problems, or anyone in the family or pets with unexplained respiratory problems, there could be a serious problem.

You may have already seen the TV ad by a law firm targeting this problem.  When that happens, you know the problem is extensive.  But, again, standardized testing for this problem is, to the best of my knowledge, not yet available.  Having said that, there are businesses that can be contacted to perform an inspection, including Gurtler Brothers, in New Orleans.  They can be reached at 504-486-8500.

Here are some excellent additional service and information resources for your assistance. Just cut and paste them into your browser.

http://swamplot.com/Chinese- drywall-and-the-smell-test/ 2009-03-24/

http://www.youtube.com/watch? v=wM0NK-M3A0Q

http://zindustriesllc.com/dry, _below_deck_waterproofing. html?lid=199841534&keyphrase= chinese+drywall+new+orleans&c= 199837144&provider=google

For Sale!

Interest Rates & Home Loans

Remember, it’s all about your credit rating.  If you really want to buy a home, or Re-Fi, be cool with credit cards and major purchases before closing on your home.

Real Estate Prices In Other Parts of The World…

On a recent trip to Ireland, I stopped by to see an old friend of the family in his place of business…a real estate agency.  After the polite preliminaries my friend said, “Middie, business is absolutely brutal”.

For Sale

Beautiful Uptown Condo – Two Bedrooms, Two 1/2 Baths!

Lyons TerraceThis could be your own private terrace!

Everything you need!

2 Bd…Each With Full Bath, & Big Closets.. Plus, a Half Bath!

Walk To Restaurants, & Stores   2009 Logo
Entertainment Sized Terrace!
Sun Filled, Open Floor Plan
Stainless Appliances + Granite Counters
Tall Ceilings With Crown Moldings
In Unit Wash/Dryer
Exercise Room
Storage Room
Assigned Parking

Do you know someone looking for a 1st class Condo like this?

Great Location!

$309,000

Live/Rent, or buy for straight inve$tment

$169K buys you this great double in Broadmoor.  Very Good Condition.  Fully rented at $850 a side.  Very easy to maintain.

Dante Front View
This cute, over 2000 sq.ft., Carrollton area, Victorian Double has 2 bd and 1 ba per side, and it’s in Very Good condition.  Both sides rented at $850 a month.  Big Lot!

Call 504-579-4717, or email middieomalley@yahoo.com.