St. Charles Avenue is a well-known New Orleans street that has many city architectural influences. The three-story house that is located at 5809 St. Charles Ave is known as the Wedding Cake House. Many people love to travel down St. Charles just to get a glimpse of the fairy-tale look mansion. The home was built in 1896 and was featured in the book New Orleans Architecture, Volume VIII: The University...
Many building companies are now offering open book/cost plus contracts due to the huge rise in cost of construction materials. There have been many rumors and truths that have been floating around with both builders and consumers. Professionals in the industry want to share what is true so that the consumer can make the best decision. One of the big untruths about open book/cost plus contracts is that...
The beginning of February saw a raise of a key short-term interest rate to help bring down inflation. The one-quarter of a percentage point, from 4.5% to 4.75%, will hopefully lower the interest rates in the long term. Many professionals in the industry already considered the raise in the rates in January even though the rates fell this January from December's 6.38% to January's 6.29%. The inflation...
A new home is nice to move into, but an older home has some features you just can't find anymore in a new construction home. If you are in the market for a new home, consider buying an older house. Here are 6 things to consider when you purchase an older home. 1. The Neighborhood. Even if you love the charm of a home, you also need to love the neighborhood it is in. So before you make an offer,...
Harris Poll recently did a survey that reported eight in ten Americans said that purchasing a home is a priority. The survey also reported that 28 million Americans plan to purchase a home in the next 12 months. Unfortunately, only five million homes are projected to be sold in 2023 which means 23 million Americans will not purchase a new home due to home buying challenges they will face. Thirty four...
The housing market is still going strong but is facing a couple of challenges that are hard to overcome. The biggest challenge is the lack of inventory on the market. Current homeowners are shying away from selling due to the fact that they currently have an excellent rate and they fear they will not find anything to buy. According to the Federal Housing Finance Agency (FHFA) the average mortgage rate...
The current market has seen a bit of a decline in the past couple of weeks. Homeowners and potential home buyers are leary with the price declines. Many potential sellers are thinking twice before listing due to the housing market downturn and rise in mortgage rates. If the market is softening, does this mean it is not a good time to sell? The housing market in 2022 was not the same as the housing...
If you are thinking of selling your home but don't think it is a great time to buy this might not be the case. It is a tough time to purchase with buyer demand and higher prices, but the incentives to sell outweigh the frustrations of being a buyer. According to NerdWallet's 2022 Home Buyer Report, 89% of current homeowners do not want to list their homes for sale right now. The majority said this was...
The new year is bringing some changes to the housing market. This winter we are seeing a shift from a booming sellers' market to a softer sellers' market. Professionals in the industry have three questions to consider when making the decision to sell your home. 1. Should I Wait To Sell? The supply of homes for sale has increased but the housing inventory is still low. It is still a seller's market...
According to the National Association of Home Builders (NAHB) mortgage interest rates are starting to stabilize. The Federal Reserve is predicted to tighten the leash when it comes to bond market deals. The last part of 2022 saw a seasonally adjusted rate of newly built single-family homes at 632,000 as of October 2022. This was a 7.5% increase from the month before but was still down 5.8% from October...