2014 Louisiana Housing Market

2014 Louisiana Housing Market

With such unique and diverse scenery, the 2014 Louisiana housing market appears to be just as charming as the state itself. This real estate market is currently undergoing many changes. What’s more, these changes occurred at a rapid pace. Some of the changes may appear to be drawbacks to some of you. However, we prefer to think of them as quirks in the state’s market. The unique appeal of New Orleans keeps people highly interested in investing. … [Read more...]

2013 Louisiana Housing Market

Shreveport, La. was one of 10 U.S. cities named by Forbes magazine as the best for offering affordable median home prices and dwindling inventories of homes for sale. The magazine based its choices on the latest survey of conditions in 146 major markets for one year, starting in December 2011. Detroit took the No. 1 spot, while Shreveport squeaked through with a No. 10 ranking. Forbes wrote that ``Shreveport is affordable, has strong job … [Read more...]

Affordable Home Owners Insurance

Home owners insurance policies have sky-rocketed in some states, while others are seeing their policy prices remain close to the same. All this has occurred amid record high profits in the insurance industry. Last year insurance companies netted $68-billion, while insurance policies cover less and cost more. In 2005 insurance companies profited a record $48-billion. In many cases affordable home owners insurance is getting harder and harder to … [Read more...]

Four Million US Homes Risk Hurricane Damage

By Mike Colpitts As homeowners move to coastal areas in unprecedented numbers, more than 4 million are at risk of suffering storm damage from hurricanes, a new all-time record high, according to an industry research report. This years CoreLogic report indicates that slightly more than 4 million homes along the Atlantic and Gulf Coast regions are in danger of sustaining damage from hurricane related storm surge. The homes are generally … [Read more...]

Chinese Drywall Damage Tops 100,000 Homes

By Mike Colpitts Attorneys are working on a class action settlement with the makers of Chinese drywall that has damaged or destroyed more than 100,000 U.S. homes. But the drywall, which has been used in the construction of homes since as early as 2001 may soon be outlawed in the U.S. Homeowners in at least six states, including Texas, Florida and Louisiana have lodged lawsuits against the Chinese maker in efforts to pay for massive damages … [Read more...]

2012 Louisiana Housing Market

It’s been six long years that the people in Louisiana have been battling to recover from Hurricane Katrina, and it finally looks as though the Louisiana housing market is making a turn for the better. Home sales are moving higher and home prices in many areas of the state are on an up-swing. Sales shot up 20% in New Orleans towards the end of 2011, providing a rebound with gains in employment, particularly in education and health care. The … [Read more...]

Louisiana Outlaws Transfer Taxes

By Kevin Chiu It may be true that no other state in the U.S. can use a break more than battered Louisiana in these tough economic times. The state that suffered the twin hardships from Hurricane Katrina and the BP oil spill has outlawed real estate transfer taxes in an effort to increase home sales. The law was passed by an overwhelming majority of voters, but the ban will not affect previously established taxes or those in New Orleans … [Read more...]

BP Oil Spill Triggers Major Home Value Loss

By Mike Colpitts A study of home sales in Louisiana, Alabama, Mississippi and Florida along the Gulf of Mexico shows that home values have fallen an average of 15% so far as a direct result of the BP oil spill. The devastating impact from the massive oil spill has also contributed to the growing foreclosure crisis in the region with tens of thousands of people losing employment as a result of the mess. The study, conducted by Housing … [Read more...]

Hurricane Storm Surge Poses $300 Billion in Home Losses

By Mike Colpitts Hurricane driven storm property damage in ten major urban areas along the Atlantic and U.S. Gulf coastlines would exceed $300-billion in home losses, according to an assessment by a real estate research firm. It’s the second annual assessment by Core Logic, developed to enhance understanding of the heightened risk storm surge damage poses to the U.S. The report comes on the heels of the Federal Emergency Management Agency … [Read more...]

Chinese Drywall Second Housing Crisis

By Kevin Chiu A second housing crisis is slowly working its way through 20 states as more victims fall ill from poisonous fumes emitting from their very residences. From the Gulf Coast of Louisiana, where workers are replacing toxic Chinese drywall in new homes built for victims of Hurricane Katrina across the country it’s being called “the silent hurricane.” Toxic emissions from the drywall spew into the indoor air streams and are … [Read more...]