It is our goal at The Parks at Plaquemines to keep our buyers informed about the latest information from the local, state-level, and national real estate industry. We post content to our blog that we hope that you as our custom home buyer will find helpful. Look here for information about financing your new home, building restrictions for new homes, and real estate legislation that will impact you as you are looking to buy or build a new home in the Greater New Orleans area.

Good News About Home Pricing in the United States

Economic triggers can be confusing for the lay person in understanding why some price increases are better or worse than others.  Higher oil prices are good for Wall Street but bad for people that buy gas.  Higher priced stocks for Apple are great for stock holders and Wall Street and also good for consumers because it makes Apple products more affordable.  So it is with home prices.  Higher home prices can be bad for home buyers but good for home sellers.  Home prices that show steep increases month-over-month can indicate an “out-of-control” housing market which would mean that the real estate market was unstable.  OR, it could mean that housing prices were rising after a steepNew Home on Traditional Lot drop to sustainable levels.

The good news about home pricing in the United States now is that home prices are slowly drifting to an average level comparing month-to-month pricing nationwide.  During 2012, home prices dramatically increased for months at a time, sparking concerns that the housing market was headed to “bursting the housing bubble” – the problem that caused the Recession to begin with.  However, throughout 2014 and 2015, home prices have stabilized to a slow growth pattern, and in some cases, a no growth pattern where prices stay the same for a few months at a time.

According to the Federal Housing Finance Agency (FHFA) and the Standard and Poor’s/Case-Shiller reports, home pricing for both new single-family homes and pre-existing single-family homes has shown a steady recovery with annual growth rates of 4.1% and 3.4% in March and April, 2015, down from a growth rate of 8.6% in February.  Home pricing in New Orleans has increased year-over-year from 2014 – 2015, but it has been an increase that has trended more towards “normal” than excessive growth – matching the national trend.

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New Orleans On the List of America’s 50 Most Populous Cities

New Orleans, the Crescent City on the Mississippi in Southeast Louisiana, is a city which has bounced back since the devastation of Hurricane Katrina.  The city once again can be found on the list of America’s 50 most populous cities.  Good news for the city which beat out Arlington, Texas as the American city with the 50th highest population count.

New Orleans population according to the 2014 U.S. Census Bureau is an estimated 384,320. Before Katrina hit in 2005, New Orleans population estimated at 484,674 and dropped significantly in 2006 to 230,172. The city’s leadersNew Orleans in Top 50 Cities for Population and residents can now say that the city has essentially recovered from Hurricane Katrina.  Being on the list of the top 50 cities in the US with the highest population is a huge selling point for the local bureaucracy.  Since New Orleans basically “holds its own” when it comes to culture, diversity, tourism, and convention traffic, it now has a substantial new way to attract new corporations and businesses to the city.

Since Katrina, New Orleans has seen a shift in population and businesses cropping up in the Central Business District (CBD).  Tech companies and entrepreneurial start-ups have been especially prolific for the city, and employees for these companies have made up a large portion of the relocation traffic which has been moving into the city.  Bidding wars over real estate have been happening in neighborhoods such as the Garden District, Uptown and the Marigny because of their proximity and lower commute time to work in the CBD.  Also, many of these neighborhoods are located very close to the streetcar lines which has become a popular way to travel to and from work for New Orleans locals.

If you are considering relocating to New Orleans for business or for other reasons, and you don’t necessarily want to live in the city or in close proximity to the city of New Orleans, you should consider The Parks of Plaquemines, a new home community located just 10 miles from the CBD.  The Parks of Plaquemines offers Traditional Lots for Sale as well as Garden Home Lots for Sale where you can design and build the home of your dreams or hire one of Our Builders to build your new home for you.  If you are interested in purchasing a new home or building a new home near New Orleans, you can Contact Us at 504-364-2350 or E-mail [email protected].

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Lafitte, LA, Will Be Getting a New Levee System

Lafitte, LA, will be getting a new levee system, in fact, phase one of the project is already under construction. The project, known as the Fisher School Basin, has several phases and will be receiving state funding from Louisiana. The decision to implement several phases is due to the huge amounts of money it will take to complete the project all at once. It is easier to build small sections at a time so funding can be obtained like draws for each step of process.

Phase One which covers the bayou area located at Shipyard Street running to Fleming Road is in the building phaseLafitte Levee Construction and due to be completed in about 12 months. The contractor says this is a conservative estimate but as of now the project is on time.

Phase Two will run from past Fleming’s curve to Fleming Park Road and is slated to break ground once Phase One is completed. Phase Two is expected to be put out for bid in the next several months.

Mayor Tim Kerner said, “The design for the phase is complete and all surveys have been completed. The property needed for the project is currently being appraised and then the necessary steps to acquire the property will be put in motion.”

Phase Three will cover the bayou along the Rosethorne area and is already being surveyed. The design is in place but the appraisals and bid process will not begin for another six to eight months.

The last phases in the project are still in the initial planning stages. The goal of Lafitte’s mayor is to make sure everyone in the Lafitte, Crown Point and Barataria will have levee protection. Phase Four will be Crown Point which is only in the design phase with an estimated cost of $732,000 for the design. Phase Five, Goose Bayou, with a total estimated cost of $8 million is still seeking funding. Designs for Phase Six including Barataria and Lower Lafitte cannot begin until negotiations and plans have been approved.

In the meantime homeowners and businesses can still be protected from floods. If homes on the West Bank have flooded in the past, homeowners might be eligible for funding to have their house raised. Lately, drainage has also been put in so that rainwater will not create flashfloods during heavy rain. Street and road improvements have also been in the works around Lafitte to improve roadways from any storm damage.

The residents of The Parks of Plaquemines, a new home community in Belle Chasse northeast of Lafitte, Louisiana, on the West Bank, are among the lucky in this area who do not have to worry about flooding. According to the new maps created by FEMA in January 2013, Plaquemines Parish has seen a lowering of Base Flood Elevations (BFE). Once the maps have final approval from FEMA, Belle Chasse in particular will see a big reduction or complete removal of flood insurance requirements for its residents. The Parks of Plaquemines, currently located within 2 major levee systems, is an advantageous subdivision to call home with the low or zero risk of flooding and lower cost on flood insurance. Also, this new home neighborhood has never flooded, not even during Hurricanes Katrina or Isaac.

So, Contact the Parks of Plaquemines today to find out more about building a new home on one of our Lots for Sale.  Call 504-364-1250 or E-mail [email protected].

 

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New Orleans Will Soon Feature Beachfront Property

The Greater New Orleans area may soon have not 1 but 3 new locations for locals and tourists alike to enjoy “a day at the beach” right on the banks of Lake Pontchartrain on the Southshore.  If developers, builders, and zoning ordinances work together efficiently New Orleans will soon feature beachfront property on the lake at the Treasure Chest Casino, near the airport at the original location of Pontchartrain Beach and in New Orleans East where Baily’s Riverboat Casino once stood.

The plans in Kenner are the newest brainchild of Mayor Yenni in Kenner, Louisiana for a resort-style area to be built on property adjacent to the Treasure Chest Casino.  Envisioning a “Destin-like” town atmosphere, Mayor Yenni Kenner Beachfront in the Works Near the Treasure Chest Casinowants to build condos, a hotel, and boardwalks on 15 acres overlooking the lake.  The property in question was recently changed from a recreational zoning to a commercial zoning by working with lawmakers.  With investors from Dubai as well as right here in the Greater New Orleans area, construction on this new commercial development could begin by the end of the year.

Meanwhile, Pontchartrain Beach is set to open by the beginning of 2016, kind of a dull time of year to open a beach, but it will be ready for recreation and entertainment by the time the warm spring weather comes around.  A lease between the New Orleans Levee Board and the Lake Pontchartrain Basin Foundation will allow the beach to reopened as a beach and nature preserve.  Considering the number of people who may use the beach will dictate if more development may come in the future, possibly in the form of fair-like rides or even restaurants right on the water.  As with the development in Kenner, major planning should be made for hurricane protection by building whatever structures may go up high above the potential flooding of the lake.

These two new developments on New Orleans beaches come in conjunction with plans by Tipitina’s owner Roland von Kurnatowski and his business partner Eric George who are currently in negotiations to develop and construct a new water park and outdoor music venue on a 4.5-acre plot of land in New Orleans East.  New Orleans may soon have multiple locations to “hit the beach” right on our own shores without having to travel to the Gulf Coast.

 

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Healthcare Grant Offered to Greater New Orleans Area

New Orleans, Louisiana, was one of three cities to receive an invitation to apply for up to $350,000 in grants from Humana. However, in addition to the city of New Orleans, non-profit businesses in the entire Greater New Orleans area including Orleans, Jefferson, St. John, St. Charles, St. Tammany, St. Bernard, St. James, Plaquemines, Washington, and Tangipahoa Parishes are eligible to apply. The grants are being offered to non-profit businesses and organizations in order to assist them in lowering the physical and financial hurdles for people trying to obtain care for diabetes and congestive heart failure. The program called the Humana Communities Benefit is being solicited by the Humana Foundation, a division of Humana, Inc. The two other cities selected were Ft. Lauderdale and Knoxville, TN.

In order for non-profit organizations to be successful during the application process, the Humana Foundation is offering services to applicants such as education seminars, a newsletter which covers standards and Frequently Asked Questions, an “e-mail hotline” which will handle all e-mail inquiries, and mentorship from former grant winners who will be able to give advice and guidance and answer questions that may not be covered in the application materials.

This healthcare grant is unique in that is specific to certain areas of the country each year, and it specifically coversNew Orleans University Medical Center two types of healthcare issues – diabetes and congestive heart conditions. New Orleans, Louisiana, will soon benefit from the much anticipated opening of the University Medical Center which was developed and built on a footprint in downtown New Orleans which actually overtook entire neighborhoods and decades-old housing units and homes. With the addition of the opportunity to receive funding from a $350,000 grant, a non-profit medical company in New Orleans could soon be able to offer even more convenience and affordability to patients needing care for these particular diseases.

Businesses interested in applying for the grant must submit a letter of intent stating the following: how the money would be used and how their planned program would align with the goals of Humana Communities Benefit to increase accessibility of patients to care for diabetes and congestive heart failure. Letters of Intent will be accepted by Humana from May 2 – May 29, 2015 and applications are due by June 30th.

 

 

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