Algiers LA 70131 Home Sales – October 2008

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.

Algiers 70114 Home Sales – October 2008

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.

Algiers Point Home Sales – October 2008

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

Brechtel Park Update

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.

Restoring Brechtel Park

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.