Building Permits Overtop 1 Million in October, 2013

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Anytime you are dealing with the number 1 million in conjunction with the real estate market, there is going to be a “buzz in the air,” and that was the case for the housing market in October when reports of building permit numbers nationally topped 1 million to land at 1.034 million building permits.  A closer examination of the numbers showed that multi-family housing (apartments, condos, and townhomes) permits were the “culprits” for pushing the numbers so high.

The housing recovery has been just like a slow an steady turtle in the race of the tortoise and the hare.  Every time a number spikes in regards to real estate, economists are quick to analyze every detail to detect a trace of the fast-paced real estate market that used to exist before the Recession.  Members and leaders in the National Association of Home Builders (NAHB) are content with the slow and steady upward movement of the real estate market.  If home prices went up too quickly, the homes would be priced out of the market for home buyers already struggling to qualify for a mortgage.  If inventory is gobbled up too quickly by new home buyers, then builder would find themselves behind on their tenuous home building efforts because of a shortage of labor from general contractors and sub-contractors.  The real estate market seems to know its own pace.

Despite the over 1 million mark made in October, growth for single-family homes rose just under 1% at .8% in October.  However, regionally, the amount of building permits issued in the southern region increased by 9.4%.  At Bedico Creek Preserve, we are experiencing a “reflection” of these numbers because our subdivision offers what many communities are lacking – builders ready to build and lots ready to break ground.  We have developed 6 unique neighborhoods within our community that offer a variety of lot sizes, frontage, and styles.  We are constantly adding approved builders to Our Builders, so home buyers can “walk in and buy or build” depending on what it is they would like to do.  To find out more information about homes and lots for sale at Bedico Creek, Contact Us at 985-845-4200 or E-mail Info@LiveBedico.com.

 

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2013’s 3rd Quarter Numbers Bode Well for Real Estate

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According to the S&P/Case-Shiller Home Price Index, the 3rd quarter of 2013 not only showed a significant rise in home prices, but it is the first time that prices have risen by a double-digit percentage.  The gain over the previous year’s numbers for the 3rd Quarter was an 11% gain.  This can be both good news and bad news for economists and market analysts as they try to study the economy’s numbers for signs of a full recovery. Rumors have flown about a double-dip Recession, where inflation will skyrocket, interest rates will rise at a rapid rate, and home prices will once again be at unsustainable high’s creating another “housing bubble.”

Most analysts who spend a lot of time studying the numbers have no fear that there will be another housing bubble because the increase in home prices has slowed over the last 3 quarters.  There was only a 3% rise in home prices from the 1st and 2nd Quarters where home prices didn’t rise at all, but they just stayed even.

The positive aspect of rising home prices / values is that homeowners that were “underwater” on their loans before now have either “broke even” or have some equity in their homes.  For those that can see that equity, a refinance may be the way to go because even though interest rates have gone up, they are still at historic lows.  The amount of money saved in interest and monthly payments can make it worthwhile to go ahead and refinance the home.

With home prices on the rise, builder’s confidence has gone up in the 3rd quarter of 2013.  The demand for housing is once again taking center stage as the existing inventory of resale or previously owned homes is being eaten up by the demand of buyers who either recently “come off of the fence,” or now see that it is time to go ahead and buy a home while interest rates are still reasonably low.

For all of these reasons and because real estate is one of the main money producing industries for the GDP (Gross Domestic Product), the continued increase in home prices and therefore home values is good new for everyone who has an interest in the housing market.

 

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New Orleans Saints vs. Tampa Bay Buccaneers Football Game – 12-29-2013

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New Orleans Saints vs. Tampa Bay Buccaneers

Where: Mercedes-Benz Superdome
Sugar Bowl Drive
New Orleans, LA 70112

When: Sunday, December 29, 2013
3:25p.m. Kick-off

For Tickets & Game Times Click Here.

New Orleans Saints vs. Carolina Panthers Football Game – 12-22-2013

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New Orleans Saints vs. Carolina Panthers

Where: Bank of America Stadium
800 S Mint St.
Charlotte, NC 28202

When: Sunday, December 22, 2013
12:00p.m. (Noon) Kick-off

For Tickets & Game Times Click Here.

New Orleans Saints vs. St. Louis Rams Football Game

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New Orleans Saints vs. St. Louis Rams

Where: Edward Jones Dome
901 N Broadway
St Louis, MO 63101

When: Sunday, December 15, 2013
3:25p.m. Kick-off

For Tickets & Game Times Click Here.

St. Tammany Trace Expansion to Start Once Grant is Approved

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Although it will take the input and approval of the Louisiana state Historic Preservation Office, the Louisiana field office of the U.S. Interior Department’s Wildlife and Fisheries Service, the U.S. Army Corps of Engineers, and the state Department of Transportation and Development, parish president Pat Brister of St. Tammany Parish has confidence that the Federal Highway Administration’s Recreational Trails Program will issue a grant to expand the Tammany Trace, which currently runs to Nelso Road west of the city of Slidell.  The proposed expansion would create a crossing for the Tammany Trace at Carroll Road and would extend the Trace through Camp Salmen Nature Park to end in Old Towne Slidell.  The cost of the project would be $420,000, and the federal grant would relieve St. Tammany Parish of $92,677 of that cost.

“We’re certainly pleased with this provisional approval for this longtime effort to bring the Trace all the way into our city,” Slidell Mayor Freddy Drennan said in a news release. “We believe there’s an excellent chance that final approval will be forthcoming, but there’s still a lot of work ahead for all the parties involved.”

Camp Salmen Nature Park is a 106-acre park which runs adjacent to Bayou Liberty.  Bikers, walkers, and riders would get to enjoy the ambiance of a wildlife refuge while having a complete connection from the West side of St. Tammany Parish to East St. Tammany.  Camp Salmen’s acreage was originally donated to the Boy Scouts of America in 1924 by Fritz Salmen of the Salmen Brick and Lumber Company.  The Scouts used Camp Salmen for all of their outdoor activities such as camping and nature skills until they moved the operation to Kiln, MS in 1983.  Since then, St. Tammany Parish acquired the property in 2004 and opened it to the public in 2010.  With the construction of the Trace, this park will start to see a lot more visitors.  Overall, extending the Trace will offer more access to the City of Slidell as well as this historic public park.

 

Click Here for the Source of the Information.