It’s time to sell your home because you are ready to move on, move up, or move out of state and relocate.  Since real estate has been on the steady track to recovery, chances are good that your home will sell relatively fast in this emerging market.  However, there are ways to maximize your home’s marketability to be able to compete against all of the other home owners who are having the exact same hopeful thoughts as  yourself.  Take note of the concepts below when you are preparing your home for sale.

Keep it Simple:

The way to sell a home successfully to a potential home buyer is to help them imagine their furniture, children, pets, friends, and life in your currently occupied space.  You may want to consider going ahead and packing away the items in your home that make you “uniquely you,” which could include African animal heads on the wall, an extensive doll or teddy bear collection, or a series of books from a particular author alphabetized on your bookshelves.  You never know what people may find strange or offensive, so you want to minimize their exposure to these types of personal belongings.  In the kitchen, living room, and even your master bedroom, get rid of the clutter and clean up the surfaces to allow buyers to “fill up” the spaces with their imaginary lives.

reduce-clutter

Keep it Clean:

This may be a common sense concept for many home sellers, but your definition of clean and a potential home buyer’s concept of clean may be totally different.  Don’t take any chances: go from the outside in and the floor up.  You don’t necessarily have to hire someone to pressure wash the exterior of your home to clean it up, although, here in Louisiana, homes can accumulate mildew in less than 2 year’s time, so it might be time for a thoroughhome-exterior-cleaning cleaning.  If you want to put some elbow grease into it, you can actually just mix up buckets of lightly bleached water and using a long-handled scrubbing tool for those stubbornly stuck-on spots, you can “wash” the exterior of your home to make the paint look fresh and almost new.  More work can be done by washing your windows both on the outside and the inside, making your floorplan more light and airy while also making the glass sparkle.  Vacuum and MOP your floors on the inside of the home – this will make your home smell fresh as well.  You can either rent a steam cleaner with a scented deodorizer in it or use a powder deodorizer in your vacuum cleaner for your carpets.  Once you have scrubbed every inch of every surface in your home, cover up any remaining odors and put your best foot forward by buying plug-in’s for each room.  They are very powerful and will probably last for the hopefully 30 – 45 days it will take to sell your home.  You never get a second chance to make an excellent first impression.

Keep it Maintenanced

There is a good chance that it will rain in Louisiana while you are trying to sell your home – a chance that it may even rain very hard.  You will want to make sure that your home is kept in good repair throughout the entire selling process.  Before you even start the cleaning process, make sure you REPLACE damaged parts of your home – this includes dents in the walls, water leaks, cracked door or window frames, broken windows, and chipped formica or granite.  If you are not selling your home as a KNOWN, as-is renovation project, you don’t want a buyer to bypass purchasing your home because they see that work will have to be done as soon as they move in.  When selling a previously-owned home, there may be an understanding that it has already been lived in by other people, but you want to give them the illusion that they are buying a home that is in superior condition and will need little to no work at all.

Keep it Exposed

If you use the Internet for professional or personal use, you know that there are websites out there which maximize your home’s marketability through the use of social media.  You can be your own online agent for your home by taking excellent pictures (or having your really talented photographer friend take pictures) of your home and then posting to your personal social media pages.  If you do not yet have an online presence, ask one of your tech-savvy friends to help you by posting the listing for your.  In addition to social media, you can also sign up for real estate websites for free such as trulia.com, zillow.com, activerain.com, and redfin.com to post just your house for sale on the Internet.  Remember, the more pictures and descriptive information that you add, the more your listing will show up in the search results.

After all of your hard work, and your new home sells; you may be interested in building a new custom home on a lot in one of the excellent subdivisions in St. Tammany Parish.  You can Contact Ron Lee Homes at 985-626-7619 or E-mail Info@RonLeeHomes.com to get started on building your new home.

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According to all of the statistics from many corners: housing research firms such as Zelman Associates, investors in the stock market, the National Association of Realtors, and the National Association of Home Builders (NAHB), involvement in the new home market is beneficial on many different levels.  Investors are significantly pleased with the robust returns of national publicly held home builders such as Meritage Homes Corp., Toll Brothers Inc., Taylor Morrison Home Corp. and Standard Pacific Corp.  The U.S. Home Construction Index of the Dow Jones Involvement in the New Home Market is Beneficialhas seen a 10.8% gain excluding dividends for its investors.  Toll Brothers Inc. celebrates a 13% increase in orders year-over-year compared to 2014 as well.

Builders are reporting the sales of new homes have gotten off to a tremendous start in January and February of 2015.  The NAHB is also in line with this assumption, so the only downward impactful news out of all of this is that the sale of existing homes is faltering.  However, for once, there is good news associated with this negative trend.  Because of the real estate market recovery after the Recession, the inventory of homes that are on the market to be sold that can immediately be bought is 4.7 months.  This means that it would take only 4.7 months to buy every home that is currently for sale in the United States.  During the Recession, the inventory of homes reached almost 2 years, so this low amount of inventory is an indicator that the housing recovery has truly taken a positive turn.  However, during a healthy housing market, the inventory normally stands around 6 months.  So, existing home sales have slowed to their slowest pace in 9 months because of this and other factors.

Last year, both builders and Realtors alike suffered through the numerous and overwhelming polar fronts that came sweeping down from not just Canada but the Arctic itself.  These weather patterns last year literally had the housing market at a standstill during the 1st quarter of 2014.  While not as bad this year, the weather has affected people’s home shopping habits and kept them indoors.  Also, January and February are not normally booming months for real estate sales, so it’s definitely not time to panic and start liquidating all of the assets just yet!

003_mlsWhile the two factors above may be slowing down existing home sales, overall, home sales are set to increase during the spring which is typically the “busy season” for real estate because of three factors: the economy (GDP), job growth, and interest rates.  The GDP has been increasing each quarter for the past 1.5 years.  However slight, these increases seem to be “piling up” so that even some economists are surprised by the growth each quarter of the GDP.  Unemployment has been dropping for many months in a row and showing a consistent increase in available jobs each quarter as well.  The job market is getting so robust that people that had been on long term unemployment are once again entering the job market.  Finally interest rates for mortgages are still unbeatable at lower than 4%.  They do climb over 4% every couple of weeks, but even at those rates, they are still lower than an average interest rate in a “normal market” of 5.5% to 7%.

Investors, builders, researchers, and economists are sure to have their eye on the real estate market for both new homes and existing homes moving into the spring quarter (and hopefully the busiest quarter), so they will be able to predict if this sales phenomena is merely a lull or an actual trend.  In the mean time, new homes are for sale throughout the United States, and at the moment, buyers are interested in purchasing them.

 

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Ron Lee Homes is currently in the process of building a St. Tammany Parish Parade of Homes house located on Lot 297 in TerraBella Village in Covington, Louisiana.  Each year, builders in St. Tammany Parish have the opportunity to showcase their custom home expertise and innovation by building a unique and exceptional homeBuilding a Parade of Homes House for sale for the St. Tammany Parish Home Builders Association’s (now called the Northshore Home Builders Association) Parade of Homes.  Residents and visitors of St. Tammany Parish and the Southshore come out in droves over 2 full weekends of touring new homes, custom homes, and homes for sale.  This is when home buyers get an idea of the type of home amenities, both interior and exterior alike, that they would like to use in the homes that they build or the homes that they buy in St. Tammany Parish.

2015 St. Tammany Parish Parade of Homes Information for Ron Lee Homes

 Terra Bella Site Plan for 2015 Parade of Homes

 Lot-297-Terra-Bella-2015-Parade-of-HomesTerra Bella Village
Lot 297
924 Chretian Pointe Avenue
Covington, LA 70433

Buying a custom home is a lot of fun because at every step along the way, you get to make choices about the materials – countertops, cabinetry, flooring, paint colors, millwork, appliances, and fixtures – that you want to see carefully crafted into your new, custom home.  Our goal at Ron Lee Homes is to set your imagination free!  The sky’s the limit when you hire Ron Lee Homes to design your floorplan and assist you with making custom amenity  selections.  We want to dream with you and help your vision come to life and build you the type of home where you and your family will spend many happy hours.

During the St. Tammany Parish HBA’s Parade of Homes, we build a new, custom home that includes a myriad of tasteful and exceptional selections of custom interior and exterior amenities that we want to showcase to potential home buyers.  Our floorplan designs come from over 24 years experience of building new homes on the Northshore.  We have had feedback from hundreds of our customers as to the style and type of floorplan that they like and what is efficient and workable for almost every type of household.  You won’t want to miss this year’s Parade of Homes house in Terra Bella Village.  This French Country Style floorplan design has two-story front porches that overlook Terra Bella Lake.  The home is a 3 Bedroom (with either a 4th bedroom or Gameroom), 3 Bathroom floorplan with approximately 3,550 living square feet and 5,431 total square footage.  Most of our floorplan features are a secret until the big unveiling on the Parade of Homes Weekends, but in addition to a spectacular design, must-see master suite, and alley access, 2-car garage, this home also features outdoor living areas for entertaining and cooking.  You won’t want to miss the preview of this new home for sale by Ron Lee Homes in Covington, LA!  For More Information, Call 985-626-7619 or E-mail Info@RonLeeHomes.com.

When the National Association of Home Builders (NAHB) announces statistics regarding overall housing starts in the national real estate market, they are talking about both single-family home starts and multi-family homes which can include apartments, condos, townhomes, etc.  The overall housing starts in the United States total for 2014 hit 1.089 million which was the highest housing starts have been in 7 years (since 2007) with single-family home starts rounding out at 728,000 for 2014 which was a 7.2% increase.

Economists not just from the NAHB or the National Association of Realtors (NAR) are projecting the real estateLot 350, The Sanctuary, Front Exterior market to continue to grow back towards normal starts and home sales numbers throughout both 2015 and 2016.  They expect the market to have a 90% recovery from the crash nationwide by the end of 2016.  The reason for this is because of the growth of the economy which saw a 4% growth in 2014 and the positive job forecast which in actuality continues to be higher in job growth each month than the projections.  Job growth will eventually “trickle down” to college graduates who, during the Recession, were not able to go out and “get a job” once they graduated.  The job market should expand to allow these young professionals to embark upon their career path thus creating new households across the U.S. that had, up until this point, been living either with relatives or roommates to save money.
With a booming economy, lower unemployment rates, and higher housing starts and sales, the NAHB has every reason to believe in their projections for the real estate industry in 2015.

  • 2015 Projected Housing Starts: 804,000 (a 26% increase from 2014)
  • 2015 Projected Multi-Family Housing Starts: 358,000 (a 2% increase from 2014)
  • 2015 Projected Residential Remodeling Activity: 3% Gain Overall from 2014

In 2014, total single-family home sales were at 564,000 which is an almost 30% increase from 2013’s home sales.  Locally, in St. Tammany Parish, Ron Lee Homes has personally experienced a huge jump in interested and custom home sales for our new homes.  We managed to stay moderately busy during the Recession, but with builder optimism on the rise, unemployment numbers dropping locally in the Greater New Orleans area, and interest rates once again dipping lower than 4%, the volume of calls and e-mails has enabled us to grow our team and our services.

We have added several staff members including Cheryl Murphy, formally with Floor to Ceiling.  She is handling the renovation and remodeling section of our company and can make recommendations for, design plans, for, and handle project management for the following types of renovations and remodels: kitchen, bath, mother-in-law suite, apartment-over-the-garage, home additions, expansions, and much more.

So, if you are in the market for a new custom home or a complete renovation or remodeling job, Contact Ron Lee Homes in St. Tammany Parish at 985-626-7619 or E-mail Info@RonLeeHomes.com.

Click Here and Here for the Sources of the Statistical Information.

Economists, the National Association of Home Builders, and the National Association of Realtors all seem to agree upon one thing at the moment – the real estate market is definitely improving.  There just seems to be a lot of disagreement as to how fast the market is improving or will improve in 2015 and which buyers will get the most benefit from this improvement.  The Wall Street Journal’s parent company which just purchased Move, Inc., the owner of Realtor.com, went straight to the horse’s mouth to hear from Jonathan Smoke, the chief economist for Realtor.com to get his take on the current projections.  Below are the results:

National Association of Realtors: Predicts a 41% increase in new home sales
National Association of Home Builders: Predicts a 28% increase in new home sales
Jonathan Smoke, Economist Realtor.com: Predicts a 25% increase in new home sales

Smoke has a few reasons why he takes a cautiously optimistic viewpoint of the current and future real estate market.  One reason is that there is still a 4.5 – 5 month inventory of vacant new homes to be sold, and prices for these homes have not yet stabilized.  The second reason is that even though employment numbers have grown, new households which would have been established by college graduates may not materialize the way that economists think because of down payment requirements on tight credit home loans and student debt costs which have still not been resolved by Washington D.C.  In other words, these potential home buyers would not have the capital on hand to invest in purchasing a new home.  The last reason why Smoke thinks that the percentage of new home sales will be smaller than both the NAHB and the NAR is because builders will not be able to “ramp up” and start building new homes at a rapid pace.  Most builders divested themselves of empty lots during the Recession because of the cost of keeping them and paying taxes was a drain on their finances.  Therefore, they are not ready to begin building multiple homes at once like they once were as production builders.

However, even the cautiously optimistic increase of 25% for new home sales is still good news for the real estate market.  Another piece of good news is that economists think that the first-time home buyer market may be making a comeback.  News has been filtering out of Washington D.C. that there are programs being created for low-income and moderate-income buyers that will give them down payment assistance once again.  The rumor also is that mortgage companies are going to loosen up on the credit requirements in 2015 as well, but there have been no definite indicators of that just yet.  Because of the positive unemployment numbers that have been reported over the last two quarters, home buyers with good or excellent credit who have savings are now able to go ahead and buy a home because they also now have steady income.  All of these factors have been progressively building builder confidence and increasing the permits, starts, and production of new homes especially in the Greater New Orleans area.  For More Information about buying a new home, Contact Ron Lee Homes at 985-626-7619 or E-mail Info@RonLeeHomes.com.

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They always say that investing in real estate is a wise investment.  Since we don’t know who “they” are, people can be skeptic of this saying, but in the case of the current real estate market in 2015, investing in real estate is a wise investment for many reasons.

The first reason is the interest rates.  Interest rates hit the lowest they have ever been during 2013 thanks to the Fed’s bond buying program which artificially lowered housing interest rates in order to stimulate economic growth.  lot-120-maison-1Fortunately the maneuver worked, and the economy has since begun to slowly grow back towards its normal employment rates and GDP rates.  When this began to happen, interest rates went back up, but only by 1% or 1.5% depending on the month of the year of 2014 that you were looking at interest rates.  The rates out there are STILL at historic lows, so low in fact that you may want to consider using these interest rates in order to invest in a second home or a real estate investment.

The second reason it is wise to invest in real estate right now is because of the selection and pricing of homes on the market right now.  Once the economy shifted and people’s funds started to increase again from being depleted by the Recession, home prices started to rise at a rapid rate.  For 6 months out of 2014, home prices increase by many whole percentages every month.  However, home pricing is not totally back to normal in all markets.  Depending on where you are looking to possibly make a real estate investment or purchase a second home, you may still be able to get a deal on a home at a lower than normal price.  When the market fully recovers, you could see a good bit more appreciation than you would in a normal market with normal pricing.

When looking to purchase a second home or make a real estate investment, you should definitely do your homework extensively especially if you are still paying on a mortgage for your primary residence.  Below are some helpful tips on the steps to take when purchasing a second home.

1. Research Your Market: If you are savvy enough to find out everything you can on the Internet, or if you live close to the location where you are thinking about purchasing a new home, condo, or townhome, then you should be able to at least narrow down where you think that you will be making a good investment.  However, it is strongly recommended that you work with a local Realtor in the area in order to find out the best neighborhoods, which communities may have lost their value, comps in subdivisions in the area, and what homes are going to either retain their value or appreciate over time.  A qualified and experienced Realtor should definitely be able to help you out with this information.

2. Know Your Insurance Requirements: If you are looking to buy a second home in the Greater New Orleans area or Gulf Coast areas, keep in mind that you will run into issues getting both homeowner’s insurance and flood insurance if you are purchasing say a beach home or a home in a flood zone.  Before moving forward to aggressively on a purchase, you will want to go ahead and get quotes for insurance on the home or property to make sure that you can afford the escrow on the 2nd mortgage.

3. Research a Good Mortgage: In today’s market, credit has loosened up some, but it is still pretty difficult to quality for a home loan.  Be ready to have cash at closing.  To qualify for an excellent interest rate, you will want to consider putting at least 10% down on the home to drive up the equity.

“It is relatively easy to qualify for a second-home financing,” Bill Banfield, a Quicken Loans vice president says. “There is still a 10 percent down financing option. You can even get cash-out on a second home. There is jumbo financing for a second home. It is a very liquid market.”

4. Be Aware of Taxes: Since you are purchasing a second home, you will not be able to claim homestead on the home unless you make that home your primary residence.  When choosing a location to buy, you may consider buying a home, condo, or town home on the “fringe” of  a popular market in order to save on taxes.

If you are in the market for a 2nd home in St. Tammany Parish in the Greater New Orleans area, Contact Ron Lee Homes to discuss your home building plans.  Call 985-626-7619 or E-mail Info@RonLeeHomes.com.

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Floorplan design is the most essential part of the home building process, and Ron Lee Homes takes great care and pride in offering unique, beautiful semi-custom and fully custom floorplan designs for our clients.  Ron Lee has been009_mls designing and building state-of-the art new homes in St. Tammany Parish for over 20 years.  His hands-on approach to his projects has not only exponentially increased his knowledge of home building techniques that are both technology savvy and energy efficient but also stylish and elegantly beautiful.  He has found that even the smallest details such as matching tile choices for flooring and backsplashes as well as crown molding and built-in cabinetry trim selections can create a stunning display of craftsmanship and workmanship in the homes that he builds.

With this standard in mind, Ron Lee Homes has recently hired Cheryl Murphy, a design specialist who worked for many years with Floor to Ceiling off of Florida Street in Mandeville, Louisiana.  The purpose of adding her to the team at Ron Lee Homes is so that we can offer an even more specialized design service experience for our customers 003_mlswhile they are building their home with us, or if they have an individual remodeling or renovation project that they need handled.  Many people may have heard of making “selections” during the home building process.  Some builders offer minimal selections such as carpeting colors, tile design choices, paint colors, siding colors, etc.  For the homes built with Ron Lee Homes, our custom home design process can be extensive, and the choice of selections can be “dizzying.”  That is where Cheryl Murphy will take over and make the process of navigating the selection choices a more manageable and pleasant experience for the custom home building part of her job.

With her background at Floor to Ceiling, Cheryl was a designer who helped home buyers, renovators, and remodelors find the perfect selections for their kitchen, bath, cabinetry, and flooring.  From wood styles and colors, to kitchen cabinetry, countertops, fixtures, and appliances, to flooring choices, Cheryl will use her instinctive design skills to help clients choose the perfect blend of color, textures, and styles to make their project the very best that it can be both architecturally as well as aesthetically.  In addition to the construction aspects of the renovation and remodeling projects, Cheryl also excels at helping her clients choose accessories such as bathroom furniture, rugs, floor coverings, blinds, drapes, and other window treatments, and even specific requests such as wall art, sculptures, and stand-alone pieces.  Lighting packages are also a specialty of Cheryl Murphy’s design skills.  She can help clients completely change the look and feel of the room that they are remodeling by completely changing the lighting scheme throughout.

So, whether you are building and designing your home with us as a semi-custom or custom home project, or you have a smaller remodeling or renovation project, you will have the expert assistance of Cheryl Murphy with Ron Lee Homes to help you make the perfect selections for you and your project.  For More Information About Renovations and Remodeling by Ron Lee Homes, Call 985-626-7619 or E-mail Info@RonLeeHomes.com.

Two major shifts have entered the real estate industry in the last 15 years – a rise in the demographic of Millenials, a group of young professionals who followed Generation X and are now graduating college and establishing careers in today’s economy and a rise in the number of downsizing Baby Boomer households which is expected to sky rocket in the next 10 years in addition to the impact that it is already having on the housing industry.

The Baby Boomer generation is considered those citizens who were born from right after World War II to right in the middle of the Vietnam War in the mid ’60’s.  Much news has been covered about this generation and its impact on social security and healthcare costs, and builders and developers alike have been given a “head’s up” as to the needs and preferences for homes that they would like built to match their lifestyles and habits.  Because of the quickly changing technology in today’s world, many of this generation have an established and sometimes expert knowledge of this technology.  Therefore, their expectations of “smart devices,” “smart homes,” energy efficiency and green building, and other state-of-the-art building techniques will have an effect on those builders who are interested in providing new homes for these buyers.

Some of the particular features that are trending for the Baby Boomer generation are listed below:

Home Offices: During the Recession, many employers started allowing flex-hours and working from home in order to cut back on salary costs and retain their good employees.  Therefore, many people got used to having home offices and were able to utilize the open commerce of the Internet such as eBay to supplement their income.  This income could last them into retirement as well.

Tech/Media Centers: Because of their knowledge of technology, having to grow with the next generation in knowledge in order to compete in their workplace, many Baby Boomers will have an impressive array of high-tech media, surround sound, Wifi accessibility, and BlueRay players to be installed in a state-of-the art media room or just their family room.  Builders need to be ready to adapt to a complicated wiring system in these rooms.

Flex Space: As Baby Boomers get older, and they no longer want to or have the ability to continue working or “playing with technology,” their living space needs to be accommodating to their changing lifestyles. That is where flex space comes in – making rooms flexible to be used in different ways based on the needs of the occupant – a library or home office can become a guest room or downstairs sick room for people unable to use the stairs anymore.

First Floor Bedrooms and Bathrooms: This feature mainly refers to the downstairs master suite if the home is a two-story home.  Normally, however, builders find that many Baby Boomers are looking to downsize and get into a smaller square footage home that doesn’t require such a high amount of upkeep.  Ron Lee Homes has many garden homes that we build both in TerraBella Village and Bedico Creek Preserve in St. Tammany Parish that are perfect, low-maintenance homes for Baby Boomers.

Easy to Maintain Exteriors/Landscaping: In addition to having a smaller square footage home that is easier to clean and less space to maintain, garden homes are typically built on smaller lots which have less yard space and landscaping.  Also, Ron Lee Homes has built many gorgeous courtyard homes that have an attached, private courtyard that is simply part of the homes architectural construction.  This low-maintenance, beautiful design is perfect for an individual or couple who is/are not interested in spending a lot of time working in their yard.

As a builder located in St. Tammany Parish, Ron Lee Homes has been building homes for all ages and generations for over 20 years.  We are able to accommodate any of the latest technology designs and are ready to custom-build the home of your dreams.  For More Information, Call 985-62-7619 or E-mail Info@RonLeeHomes.com.

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The month of July, 2014, bodes well for the health of the real estate market in the United States according to the National Association of Home Builders.  1st quarter, 2014, construction numbers were cause for alarm after a harsher-than-normal winter essentially shut down the construction industry and crippled recovery numbers for the housing industry.  2nd quarter of 2014 began to show a slight increase in home construction permits and new starts, but July numbers had analysts breathing a sign of relief when housing starts increased by 8.3% year-over-year for July and a 15.7% increase from June’s dip in new housing starts.  There were housing starts increases for 3 out of 4 regions in the U.S., with one market – Midwest “breaking even” and matching typical national averages for this time of year.

Construction starts were especially fantastic for multi-family construction which reached 437,000, the highest since February, 2006.  Multifamily construction permits were at 412,000 which was a 21.5% increase from June, when starts and permits dipped slightly.  Overall, building permits were up 8.1% over June’s permit numbers, and single-family home building permits were up 3.9% over July, 2013.

Meanwhile, housing affordability went down slightly in the 2nd quarter.  Anything that goes down in the housing industry – except for interest rates, taxes, and insurance – has, in this uncertain housing market, been a cause for alarm.  However, the dip in affordability actually pushes the real estate market to pre-2000’s numbers in home pricing and affordability.  Markets in the United States are evaluated for their affordability based on the median income and monthly home sales numbers.  In June, home affordability was slightly over 65%.  In July, this number dropped almost 3 points to 62.6%.  The latest readings reflect a slow but steady march toward historically normal appreciation and interest rates, producing a more typical HOI.  The HOI is the Housing Opportunity Index that is monitored and produced by a partnership between the National Association of Home Builders and Wells Fargo.  More good news is that interest rates actually did go down in July from 4.57% to 4.44%  This was good news for the refinance market where homeowners were waiting to see if interest rates would end up dropping again.

Overall, the NAHB is predicting that the real estate market will continue to thrive at least to the end of 2014.  Locally, home prices continue to rise in the New Orleans area. Small and medium-sized businesses have steadily been moving into the Central Business District (CBD), which has caused an influx of employees and a rise in demand for housing in downtown New Orleans areas.  Many Realtors and owners have become embroiled in bidding wars, just 24 hours after homes have gone on the market.  Real estate activity throughout the rest of the Greater New Orleans area has seen a steady increase with higher than normal sales numbers in busier real estate months of the year.

Click Here and Here for the Source of the Information.

According to the National Association of Realtors (NAR), home prices and new home prices are beginning to level off.  Prices are still on the rise – 4.4% in the second quarter of 2014, over the same time in 2013.  However, this increase is still less than the 1st quarter price increases from 2013 which was an 8.3% increase.  When the housing market began its recovery, home prices skyrocketed causing major concern in interested parties.  The worry was that the prices would increase so much, they would create another housing bubble.  All throughout 2013, the real estate market technically “recovered,” and now with the slow in housing price increases, the market may finally be stabilizing.

Another important and vital factor to the stabilization and sustained health of the housing market is the increased pace of new home construction.  Builders providing a selection of new home inventory allows buyers to have more of a choice in the house that they would like to buy.  A lack of supply increases demand which raises prices.  With a full inventory of homes for sale, demand is stabilized, so prices come back to an industry average which helps with price stabilization. Total inventory of existing homes reached 2.3 million by the end of June 2014. That was 6.5 percent more than a year ago.

Due to a harsher than normal winter, home sales fell behind approximately 5% in the 1st quarter of 2014, but in the 2nd quarter new home sales and home sales increased.  Real estate sales are expected to match or even exceed sales number of 2013.  In 2011 and 2012, a lot of the sales were “playing catch-up” with the existing inventory which had sat for awhile after the collapse of real estate in 2008. 2013 seemed to reflect one the first “normal” years post-Recession.

In St. Tammany Parish, pricing did fall slightly in the slower years, but for the most part, homes in Mandeville, Covington, Madisonville, and Abita Springs held their value except for hard-hit pockets here and there.  From the point of view of a builder, our buyers get a substantial “bang for their buck” when building a new custom home with Ron Lee Homes in St. Tammany Parish. You can view the types of Projects we build as well as find out more information about our Homes for Sale by Contacting Us directly at 985-626-7619 or E-mailing Info@RonLeeHomes.com.