2016 Louisiana Real Estate Market Predictions

Louisiana is known by many names: The Pelican State (official), The Bayou State, Child of the Mississippi, The Creole State, Sportsman’s Paradise, The Sugar State, and The Boot. It became the 18th state in 1812. The state’s area is 51,843 square miles, making it the 31st in the nation by size. The eastern border is the Mississippi River and the Gulf of Mexico is to the south. The population is approximately 4,670,724 making it 25th in the United … [Read more...]

2015 Louisiana Real Estate and Housing Market Predictions

The Louisiana real estate market enjoys some of the most distinct qualities of any state in our nation. It is the only state with political subdivisions called Parishes (local governments that are equivalent to counties). Since many of the state’s lands were formed by Mississippi River sediment washout, Louisiana contains large areas of deltas, swamps, and coastal marshes. Like Florida’s everglades, these ecosystems contain species that are … [Read more...]

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...]