Current real estate statistics for Algiers LA 70114 as of 12/3/2008:

• 93 Active listings, priced from $34,500 to $590,000
• 8 pending sales (still allowing showings) priced from $50,000 to $248,800
• 13 homes are under contract, priced from $34,900 to $198,900
• Average listing price: $162,293
• Median listing price: $125,000
• Based on November home sales, there is an 11.6 month supply of homes for sale in Algiers
• Note: While this report covers all of zip code 70114, a separate report is prepared for Algiers Point home sales

Algiers LA 70114 Number of Homes Sold November 2008

Algiers 70114 ended the month of November with 8 closed sales out of the 15 that were pending at the beginning of the month and it looks like the total sales for the year will be on par with 2007. A review of the year to year comparison shows that the number of homes sold in the area has been dropping each year, with the exception of 2006. Of course, that was the crazy buying frenzy that followed Katrina is not a real indicator of demand for homes in the area.

Algiers LA 70114 Average Home Sale Price November 2008

Once again, the average sale price for the 70114 zip code jumped around drastically. These jumps happen whenever there are multiple sales in Algiers Point that skew the monthly average. The real number to watch at this point is the year to date average sold price – $134,970.

I can hear sellers complaining right now because this is the lowest in the last 5 years. But, the numbers don’t lie. This presents a great opportunity for buyers who have been waiting for lower prices. There is no need to wait any longer – they are here now, along with low interest rates and available financing.

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

Related Reading:

• Previous Algiers Real Estate Market Reports
• Home Selling Tips and FAQs

If you are considering buying or selling an Algiers home, please contact Lisa Heindel. It would be my pleasure to assist you.

Copyright 2008. Lisa Heindel and West Bank Living. All rights reserved.

Current real estate statistics for Algiers Point as of 12/3/2008:

• 22 Active listings, priced from $75,000 to $590,000
• 3 pending sales (still showing) priced from $100,000 to $248,800
• 1 home is under contract, priced at $191,500
• Average listing price: $280,636
• Median listing price: $269,000
• Based on November sales, there is an 11 month supply of homes for sale in Algiers Point

Algiers Point November 2008 Number of Homes Sold

Although the second half of 2008 showed a distinct downward trend in the number of homes being sold in Algiers Point, I think it’s important to look at the year to year numbers below. We are already ahead of the 2005 sales, even if it is just by one sale. Everyone seems to have a little haze over their memory and thinks that right after Katrina was THE time to sell. Well, when you look at the actual number of sales, demand has been dropping since 2004.

Why? There is never just one reason, but the most likely is that it was the increase in average sale prices, which were pricing many buyers out of the neighborhood.

Algiers Point November 2008 Average Home Sale Prices

As average home prices shot up year over year, the number of qualified buyers who wanted to live in the Point dropped. Now that prices have started to come back down to more affordable levels, I anticipate an uptick in sales in 2009 if that trend continues.

Remember, the Point is a unique community that is not the right fit for everyone, so it has been taking an average of about 100 days of marketing before an offer is received.

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

Related Reading:

• More Algiers Point Real Estate Market Reports
• Home Selling Tips and FAQs

Thinking about buying or selling a home in Algiers Point? Contact Lisa Heindel. It would be my pleasure to assist you.

Copyright 2008. Lisa Heindel and West Bank Living. All rights reserved.

Current real estate statistics for Algiers LA 70131 as of 12/3/2008:

• Note: These numbers exclude home sales in English Turn
• 184 Active listings, priced from $22,000 to $895,000
• 3 pending sales (still showing), priced from $55,000 to $128,000
• 25 homes are under contract, priced from $19,900 to $269,000
• Average listing price: $200,095
• Median listing price: $176,750
• Based on November sales, there is a 14.9 month supply of homes for sale in Algiers (70131)

Algiers LA 70131 November 2008 Number of Homes Sold

Of the 36 pending sales reported at the beginning of November, only 13 made it to a successful closing. As buyers become more educated about being preapproved, I’m not finding financing to be as much of an issue as the condition of properties. Homes with hidden problems are continuing to cause buyers to walk away and continue their search among the large selection of homes to choose from.

With the number of homes being sold in Algiers down significantly from previous years, I’m reminding sellers that they are facing some stiff competition and their homes need to be in the best possible condition before they go on the market.

Algiers LA 70131 November 2008 Average Home Sales Prices

November average sales in Algiers bumped back up again, but 2008 is still looking like it will end with average values somewhere between 2004 and 2005 prices. In my opinion, it’s the perfect time for home buyers in Algiers…rates are low, mortgages are still available and I’m predicting that when the Federal City is complete we will see rising values in the community.

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

Related Reading:

• Previous Algiers Real Estate Market Reports
• Home Selling Tips and FAQs

If you are considering buying or selling a home in Algiers, please contact Lisa Heindel. It would be my pleasure to assist you.

Copyright 2008. Lisa Heindel and West Bank Living. All rights reserved.

Current real estate market statistics for English Turn subdivision in New Orleans LA as of 12/3/2008:

• 36 Active listings, priced from $415,000 to $1,595,000
• 1 pending sale (still showing), priced at $369,900
• 4 homes are under contract, priced from $415,000 to $759,000
• Average listing price: $580,000
• Median listing price: $656,861
• Because there were no closed sales in November, I can’t calculate a current absorption rate. However, based on the average number of homes sold per month in 2008 (2.09), there is a 17 month supply of homes for sale in English Turn at this time.

English Turn November 2008 Number of Homes Sold

None of the 4 homes pending sale or under contract at the beginning of November made it to a successful sale. 3 of those 4 are still under contract and may yet close, which means that 2 new homes went under contract during the month of November.

If the 2008 activity is any indicator of how 2009 will start, don’t expect to see an increase in sales until the 2nd quarter unless recent drops in interest rates push some buyers off of the fence. I’m truly surprised that more people haven’t taken some of their money out of the volatile stock market and purchased real estate with it. Given the number of companies folding, restructuring and cutting back on dividends, combined with record low home prices, it’s the perfect time to invest in a tangible asset like real property.

English Turn November 2008 Average Home Sale Prices

The year to date average home sale price in English Turn is at a 5 year low of $506,829, down over 14% from 2007. Watching the sales through out the year, it becomes apparent that homes in the under $500,000 price range are in high demand in the area and are selling much better than those in the upper end price range. While the homes in the under $500k range may need a little sprucing up, they present an opportunity for entry into an exclusive community at bargain basement prices.

All information compiled from GSREIN and is deemed reliable, but not guaranteed

Related Reading:

• Previous English Turn Market Reports
• Home Selling Tips and FAQs

Interested in buying a home in English Turn or selling your English Turn home? Contact Lisa Heindel. It would be my pleasure to assist you.

Copyright 2008. Lisa Heindel and West Bank Living. All rights reserved.

Next week the kids are out of school and the grocery stores will be packed with folks hunting and gathering all of the things they need to prepare too much food for too few people. For many, it’s a stressful time, trying to do everything just so. I don’t know about you, but I usually need a break from all of the preparations and look forward to some time out of the house just to have a little fun.

What could be more fun than Turkey Bingo?

The Sunshine Club of Algiers is sponsoring it’s annual Turkey Bingo on Tuesday, 11/25/2008 in the Holy Name of Mary School cafeteria in Algiers Point. Since the 1930’s, the Sunshine Club has distributed holiday baskets to between 150-200 local families in need. The big, annual spaghetti dinner was canceled this year due to Gustav, so Turkey Bingo needs your support!

Winners of the bingo games get their very own turkey to take home and it’s a wonderful way to spend a little quality time with friends, family and neighbors. Here’s a thought – if you win, the Sunshine Club will gladly take that turkey as a donation towards the Christmas baskets that will be distributed on December 20th.

The first game starts at 7:30 pm and bingo cards are only $1.50 each. Watch out for those power players that can play a table full of cards at once! Kids, as always, are welcome and there will be food, drinks and sweets available along with a parade of prizes and a 50/50 raffle.

For more information, contact Gary Laigast at (504) 450-7460.

Happy Thanksgiving!

Copyright 2008. Lisa Heindel and West Bank Living. All rights reserved.

Current real estate statistics for Algiers LA 70131 as of 11/5/2008:

• 210 active listings, priced from $22,000 to $975,000
• Average listing price of $190,862
• 6 pending (but continue to show) listings, priced from $80,000 to $195,000
• 30 under contract listings, priced from $19,900 to $295,000
• Based on October 2008 sales, there is a 21 month supply of homes for sale in Algiers LA 70131
• Note: this information excludes English Turn home sales

Algiers LA 70131 – Number of Homes Sold October 2008

While the first half of 2008 showed home sales on the rise in Algiers, the number of homes sold each month has been steadily declining since June. Year to date, an average of 19 homes are sold in Algiers (70131) each month, compared to 26.7 per month in 2007.

When looking at the overall sales trends for Algiers, the number of homes sold in 2006 cannot really be used as a market indicator, since it includes the flurry of home buying that took place after hurricane Katrina.

Algiers LA 70131 – Average Home Sale Prices October 2008

Just as the number of sales has been dwindling each month, the average sales price in Algiers has been drifting downward as well, ending October at $154,649 – almost exactly the same as the 2004 average sales price.

It’s important to note that these number are for the entire 70131 zip code (excluding English Turn) and your Algiers neighborhood may be performing differently. Sellers who have been on the market for an extended period of time should ask their agent for an updated market analysis of listings and sales for the last 90 days only – this is the true indicator of our current real estate market and what buyers are looking for and willing to pay.

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

Related Reading:

• Other Algiers Real Estate Market Reports
• Getting Your Home Sold in This Market – 10 Steps to Success According to Professional Home Stagers
• Choosing a Tech Savvy REALTOR to Sell Your West Bank Home

If you are interested in buying an Algiers home or selling your Algiers home, please contact Lisa Heindel. It would be my pleasure to assist you with your West Bank real estate needs.

Copyright 2008. Lisa Heindel and West Bank Living. All rights reserved.

Current real estate statistics for Algiers LA 70114 as of 11/5/2008:

• 82 active listings, priced from $34,500 to $590,000
• 3 pending (but continue to show) listings, priced from $100,000 to $149,900
• 12 under contract listings, priced from $25,750 to $289,000
• Based on October 2008 sales, there is an 11.7 month supply of homes for sale in Algiers zip code 70114

Algiers LA 70114 – Number of Homes Sold October 2008

Algiers (70114) homes have been selling at an average of just over 8 homes per month 2008, on par with the 2007 sales pace, but below the sales rates seen in 2004-2006. This trend is being repeated in several West Bank communities.

To put things into perspective, there are currently 82 homes listed for sale – this is only 2 less than have been sold throughout 2008, creating almost a year of inventory. The good news is that this projected supply is down from last month’s estimate of almost 2 years due to a higher number of sales in October.

Algiers LA 70114 – Average Home Sale Prices October 2008

Average home sale prices in Algiers have had their ups and downs this year – mostly dependant upon what’s selling in Algiers Point. Overall, though, the average sale price is down over $35,000 from 2007.

What does this mean for home sellers in Algiers? It means that you need the most up to date information about sales and listings in YOUR neighborhood. It means that you need to receive that information from your agent each and every month that you are on the market to ensure that your price remains competitive and you are offering the best value to the buyers.

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

Related Reading:

• Algiers Point: October 2008 Home Sales and Real Estate Market Report
• All Algiers Market Reports
• Getting Your Home Sold in This Market – 10 Steps to Success According to Professional Home Stagers

If you are considering buying a home in Algiers or selling your Algiers home, please contact Lisa Heindel. It would be my pleasure to assist you with all of your West Bank real estate needs.

Copyright 2008. Lisa Heindel and West Bank Living. All rights reserved.

Current real estate market statistics for Algiers Point as of 11/5/2008:

• 28 active listings, priced from $84,900 to $590,000
• 1 pending sale, continuing to show, priced at $100,000
• 2 under contract listings, priced from $213,900 to $289,000
• Based on October 2008 sales, there is a 28 month supply of homes for sale in Algiers Point

Algiers Point – Number of Homes Sold October 2008

I know that home sellers in Algiers Point have been disappointed with the number of home sales that have closed so far in 2008, with much of the blame placed on the economy. Some have decided to stay put and take their houses off of the market, while others have dropped their prices drastically in an attempt to sell.

If you take a look at the chart below, you will see that the number of homes being sold in the Point was dropping even before Katrina and has remained mostly stable for almost 3 years now.

Algiers Point – Average Home Sale Price October 2008

Many of the 2008 sales that have occurred in Algiers Point have been properties in need of renovation that allowed buyers the opportunity to purchase in a historic neighborhood that they may not have been able to afford if all of the homes were in excellent condition.

The unfortunate side effect is that average sales prices have dropped to a point below the 2004 average. Combined with an oversupply of homes for sale, price is definitely king. The good news is that the average price trend for the year can be seen creeping up.

Have we hit bottom? We won’t know the answer to that question until we see consistently higher sales and that will be in hindsight. If you don’t need to sell, then don’t jump into the fray with all of the other listings. If you must sell, be prepared to have your house sparkle and price it right from the first day on the market.

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

Related reading:

• Algiers Point real estate market updates
• Home Selling Tips
• Choosing a Tech Savvy REALTOR to Sell Your West Bank Home

Interested in buying in Algiers Point or selling your Algiers Point home? Contact Lisa Heindel. It would be my pleasure to help you with all of your West Bank real estate needs.

Copyright 2008. Lisa Heindel and West Bank Living. All rights

Saturday morning was the fall meeting of the Friends of Brechtel Park, and it was quite the success. We managed to have not just one but TWO representatives from the New Orleans City Council in attendance, something that just doesn’t happen very often for a community meeting.

The meeting started out with a short introduction by the president of FOBP, Aylin Maklansky. After she spoke, I was thrilled when Aylin used my video about helping to restore Brechtel Park. (see the video below) This same video has already made it’s way to a Boy Scout troop in New Jersey who is planning a spring trip to New Orleans and has Brechtel on their list for clean up sites!

By the time that City Council President Jackie Clarkson and Councilman Arnie Fielkow spoke, every seat was taken. The council has committed to help FOBP get the funding that was approved by voters several years ago and to work with the Friends to guide us through the maze of city funding and politics. Additionally, representatives from Parks and Parkways, West Bank Redevelopment and the Algiers Economic Development Foundation were in attendance and offered their support and assistance as well.

New members were signed up, new board members were drafted recruited, and some great ideas for park functions and improvements were suggested. In an example of how everyone brings something to the table in this group, a local resident brought a photo of an alligator that was seen in the pond at the park. Before the meeting was even underway, the Wildlife and Fisheries had been contacted and had promised to send someone out to “relocate” the alligator. Hmmm…I wonder where relocated alligators go?

It is only through the efforts of members of the community that we can restore the park to the vibrant meeting place that it once was – and can be again. Become a member of the Friends of Brechtel Park today.

I’ve written before about Brechtel Park in Algiers, reminding everyone that we have a diamond in the rough – 112 acres on the America’s Wetland Birding Trail that is right in our own backyards and has the potential to rival any other park on the West Bank.

I try to keep up with what’s going on with the park through newsletters from the Friends of Brechtel Park. When my newsletter arrived this week, I was shocked to find out that there is no money (as in zero, zilch, nada) being budgeted by the New Orleans City Council for improvements to the park. In both 2000 and 2004, Brechtel Park was included in bond issuances approved by New Orleans voters. To date, no capital improvements have been made and now there are no funds being allocated for the next FIVE years. Click here for more details about the lack of funding.

I remember when I was a teen and in my early 20s, the park would be jam packed on the weekends with people picnicking and grilling, fishing, playing baseball or softball and children running up and down the "hills". I have pictures of my oldest son, who is now 23, fishing with a cane pole from the banks of the lagoon. I have memories of kite flying contests and frisbee games and getting up early on a weekend morning to be sure that we could get a "good spot" to spend the day at.

Curiosity got the better of me after reading the newsletter, so I took a drive through Brechtel this afternoon. It’s a beautiful day…sunny, mild temperatures…perfect for being outside. I can’t begin to express how sad I was that I saw only a handful of people in the park. One family was walking, one was packing up from lunch and playtime and the only person using the baseball field was the gentleman practicing his fly fishing technique. My husband (who used to be a New Orleans police officer) remarked that years ago, there were regular police patrols through the park on the weekends because there were so many people crowding in. That certainly is no longer the case….

From a distance, it’s still just as beautiful as it ever was, even though many of the old trees were lost during Katrina.

Up close, the tell-tale signs of neglect are evident in picnic tables that can’t be used, benches overlooking the lagoon that are overgrown with vines, rusty pipes that used to hold BBQ grills, the old sand lot that is covered in weeds, and the single port-o-let that serves as the restroom for the entire back section of the park.

The original master plan for the park included a butterfly garden, a water park, additional restrooms, a bird viewing tower, a jogging and biking trail, a multi-purpose center and more. After today’s visit, I’d be happy to just see the badly needed repairs done.

What can you do to help?

First, consider joining the Friends of Brechtel Park – volunteer your time or your talent on one of the 13 committees that desperately need a helping hand. There is currently an opportunity to apply for a $50,000 grant from the KABOOM organization to add playground equipment to the park and assistance is needed with the grant application.

Second, contact James Carter (District C Councilman), Jackie Clarkson (Council-at-large) and Ann McDonald (Parks and Parkways Commission) and advocate for funding for the park.

Third, make a donation!

I have already volunteered to join the board – won’t you join me?

Copyright 2008. Lisa Heindel and West Bank Living. All rights reserved.