It’s Not The End Of The World!
It’s the beginning of a brand new era!
…one that is more optimistic and has, one hopes, a refreshing dash of youthful idealism, not to mention a growing interest in the Green Movement. I’m wrapped up in this great spirit, and feel energized by its good intent. One can only hope that a new and energetic Spirit of America is enthusiastically endorsed by her diverse population. And, that a slimmed down, toned up, modern America, gains even greater respect in the eyes of a changing world.
All of that stuff we’re seeing on television is not so much about money, per se, it is about honesty, responsibility, and accountability at every level of our American political, and manufacturing system.
We haven’t had an opportunity to truly reinvent ourselves in a very long time…if we have to suck it up for a while to achieve necessary improvements, I can think of no better country on earth than the good ole USA, with the help of her diverse national citizenry, to do the job!
How will these changes affect real estate? Well, in a very big way. We will see practices, and new regulations that will be far more focused on protecting the consumer rather than to line the pockets of greedy financial institutions who have created a serious economic challenge.
The forecast for New Orleans calls for an uptick in real estate activity after the first of the year. At my agency, RE/MAX New Orleans Properties, we have a record amount of homes under contract! A home that is priced, staged, and marketed correctly, will sell! If you are buying, this is your window of opportunity to buy the home of your dreams. Prices are reduced and interest rates are low. Buy now!
The Holiday’s seem to be coming around faster with each passing year. May this one bring your families great blessings, peace, and happiness, and may the New Year bring you hope, health, and joy!
As ever, I remain at your service.
Interest Rates & Loans
The real issue is credit worthiness. Anyone with a respectable credit rating, a stable income stream, and a reasonable history of payment can qualify for a residential loan…in New Orleans, there’s no shortage of money. Current interests, depending on an applicants credit rating are in the high 5′s to low 6% range…with a forecast to go lower. Remember if your credit is a bit rough around the edges, you’ll still have a good shot at a loan but the interest rate may be higher.Some lenders have the ability to lend 100% with a 1st and 2nd mortgage, and others have special “inside” programs, but ya gotta ask! For those with more challenging credit and liquidity issues, there may be alternatives to conventional loans through FHA or VA loans.
Right now, it’s all about credit ratings. As I have said before, if you really want to buy a home, and now is an amazingly good time to do so, you might consider being cool with credit cards and major purchases before closing on a home.
Money Making Doubles!
$169K buys you this great double in Broadmoor. Very Good Condition. Fully rented at $850 a side. Very easy to maintain.
This cute, over 2000 sq.ft., Victorian Double has 2 bd and 1 ba per side, and it’s in Very Good condition. One side rented at $850/mo. to a long term adult renter. Other side is open for rent, or live-in. Big Lot!
Here’s a Broadmoor Duplex with 3 bd and 2 ba per unit. Giant yard. (subdivide?) Very Good condition. Both units rented for $1250 a month.
Call 504-579-4717, or email middieomalley@yahoo.com.