Wednesday, May 10, 2006


“Easy to show. Door is open”

Or so read some of the residential real estate ads in flooded parts of town. I guess this is more common than I thought, as I know many people who have flooded homes that just invite people to walk through them as they tour these storm-damaged neighborhoods. It all seems a little odd to me, but I guess it's just another reality in post-K New Orleans. These neighborhoods are coming back, and people are investing a lot of their money, and more importantly, sweat, into these neighborhoods. With contractors difficult to find, everybody seems to be doing the work themselves.

Anyhow, check out this article from which outlines the real estate realities in New Orleans. Turns out that things are pretty busy, which I have to say I have heard from realtors. Ms. Evacuee and I have been tempted to get into the fray, but we're going to hold off at least another year. I'm not entirely sure how the city will handle another big hurricane bearing down on the coast, or how the market for homes will handle a lot of inventory coming back online in Lakeview and Mid-City over the coming few months. Either way, the word is that homes under $500k don't stay on the market long, and the ones on the market for over $500k stay for days on end. Is that a more telling statistic than the number of homes sold? Only time will tell.

We're looking for a house right now. The breakdown isn't as simply as you suggest (but what is simply in New Orleans these days). We're looking for a $300,000 or less home in a non-flooded area. Some go quickly. Some linger. It's not always clear why.

Almost nothing sells in just a few days.

Also, we've seen a lot of place go under contract and then come back on the market. Never having looked for a home before, I have no idea if this is always the case.
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