Housing Market Is on its Way Towards a Full Recovery

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One of the key indicators that the housing market is on its way towards a full recovery post-Recession is house prices.  House prices reached “bubble status” pre-Recession and was the partial cause of the entire crash of the mortgage industry during the crisis because buyers found themselves living in homes with loans that vastly exceededThe housing market nationwide is reporting an increase in prices as well as pending home sales from 2015 to 2014. the appraised value of the home.  House prices must maintain a delicate balance as the ebb and flow of the housing market dictated by new home and existing home buyer supply and demand raises and lowers pricing year-over-year.

The House Price Index (HPI) reported that house prices have been increasing for the last three months as of May, 2015, which had an annual growth rate of 5.4%.  That percentage was higher than April’s increase of 4.7% and March’s increase of 3.8%.  The HPI is issued by the Federal Housing Finance Agency, and another report by The Standard and Poor’s/Case-Shiller also showed a slower growth based on a moving three-month average.  This growth in home prices shows a strong demand for new and existing homes from home buyers nationwide.

The National Association of Realtors (NAR) also had good news to report about existing homes under contract nationally.  The Pending Home Sales Index (PHSI) reached a record-high in 9 years in May, 2015, and declined only slightly in June.  This statistic is based on homes with signed contracts as reported to the NAR.  Even with the decline, the PHSI was up 8.2% compared to June, 2014, and the number of homes under contract has been increasing for the last 10 months consecutively.  The Southern Region reflected a 5% increase for the entire year of 2015 for contracts on homes for sale.

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Builders & Buyers Enjoying Robust Real Estate Market

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Builders and buyers alike are optimistic that the recovery of the real estate market nationwide is here to stay as new home sales increased 18% year-over-year in June, 2015 compared to 2014, and new home inventory also increased by 3.4%.  Builders are discovering that bank construction loans are easing slightly on credit requirements and equity, and also with the increasing number of new home sales, builders are “turning over” the new homes that they are St. Tammany Parish real estate market thriving at Bedico Creek Preservebuilding so they are freeing up capital to invest in new lots for sale in traditional as well as master planned developments.

However, all of the great news regarding the real estate market was tempered by a slight drop in sales from May to June, 2015, for a total drop of 6.8%, down from 517,000 in may to 482,000 in June.  However, the summer months sometimes experience a lag because of school getting out, and potential home buyers going on vacation in the early part of the summer.  Overall, new home sales have been increasing both incrementally and expotentially since 2012.

Good news for builders is that there is an increasing demand from new home buyers for homes to purchase. This demand has not tapered off or decreased since the housing market started its recovery.  This trend has especially been noticed in the new, master planned community of Bedico Creek Preserve in St. Tammany Parish which features 11 Neighborhoods of new homes for sale, lots for sale, and new homes under construction.  Buyers living on the 0-277 W. Longview Front ExteriorNorthshore already find that this new home community is convenient to the cities of Mandeville, Madisonville, Covington, and Abita Springs in West St. Tammany Parish.

New lots are constantly being developed as new neighborhoods within the subdivision are opening with available lots for those new home buyers interested in building their own custom home.  There is no shortage of new homes to buy and new lots to buy at Bedico Creek in the Greater New Orleans area.  Contact Bedico Creek to schedule a tour of this Conservation Community by calling 985-845-4200 or E-mailing Info@LiveBedico.com.

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Kelly Kristine Waltemath Realtor®, Home Specialist Bedico Creek Preserve

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July 6, 2015 – Kelly Waltemath has assumed responsibilities as Assistant Manager and Social Director for Bedico Creek Preserve in Madisonville, along with duties in several other family-developed upscale neighborhoods, where she is specializing in the sale of new and resale homes. She is a licensed Realtor® with Keller Williams Realty Services, a member of the Urban Land Institute, and the New Orleans Board of Realtors.

A New Orleans native, Kelly is 24 and a graduate of Trinity Episcopal, the Academy of the Sacred Heart, and Louisiana State University.  She takes great pride in being the fourth generation Waltemath in real estate.

She enjoys volunteering and giving back to the community at such well-known organizations as Audubon Park’s Zoo To Do, Notre Dame Seminary Lunch for Priests, Boys Hope Girls Hope, and the Sugarplum Ball.

Bedico Creek is one of St. Tammany Parish’s fastest growing Master Planned Communities from developer David Waltemath (previous projects include English Turn and Estates of Northpark).

Kelly Waltemath
504-236-8587
Keller Williams Realty Services
Mandeville, LA
Licensed in Louisiana

New Traffic Circle at Highway 1077 Eases Traffic for Bedico Creek

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The much anticipated traffic circle at Highway 1077 and Bootlegger Road (Highway 1085) has been started by the St. Tammany Parish Department of Transportation.  This crucial junction adjacent to the Archbishop Hannan High School, a renowned private school just south of Bedico Creek, has much traffic as subdivision and industrial growth continues construction north on Highway 1077.  There are actually 2 major intersections on 1077 which greatly affect the traffic for residents and employees that use this road.  The second junction is north on 1077 at Highway 190.  Although there has been much talk of building a second roundabout at Highway 190, the only one currently under construction is the one at 1077 and Bootlegger Road.

Bedico Creek Preserve, a new home, masterplanned community in St. Tammany Parish, is located out Bootlegger Road (Highway 1085) just 3.2 miles from Interstate 12.  This new community features lots and new homes for sale, and 11 individual Neighborhoods have been built and developed with lots for sale with 2 more Neighborhoods coming online during 2016.  Bedico Creek already has over 200 new residents in our community, so the traffic circle being built at 1077 and 1085 is a welcome relief for those residents that commute to work and have to travel that road twice a day.  With a convenient location near the city of Covington, Highway 21 and all of the new and existing shopping and dining, and its short distance from the interstate, Bedico Creek offers “ease of use” for our homeowners.

The road construction is being done by Kort’s Construction Services with land clearing and utility relocation being completed in the first phase of this $3.2 million project.  The St. Tammany Parish government plans for the utility location to be done by the end of 2015, and all road construction to be done by fall of 2016.  In addition to being a huge benefit for the current and future homeowners at Bedico Creek Preserve, the new traffic circle at Highway 1077 should also help with school traffic and industrial traffic north of the traffic circle.  In fact, a new Fed Ex distribution center is being built just northwest of the private high school as well.

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Available Construction Jobs on the Rise

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Well over half a million builders are getting ramped up with the renewal of the real estate market nationwide and are very much now hiring employees as the number of open construction jobs increased in May.  In fact, the number of available construction jobs in the United States has been on the rise since 2012 along with the constant increase of new home sales and new home inventory.  May’s employment increase logged in as one of the 4 highest months of increases since 2012.

Almost 1.8 million contractors, sub-contractors, and trade companies also made up the number of businessesconstruction employment employed in the home building / remodeling categories of the total U.S. employment in June, 2015, bringing the total number of construction employed jobs to 2.442 million.  Now that new homes are being built on lots developed for sale in more and more numbers, the construction industry has gained almost a half a million jobs since the low point of the Great Recession.

In 2015 alone, approximately 127,000 jobs have been added in the U.S. nationwide.  In fact, since hitting the ceiling during 2010, the unemployment rate for builders and construction has dropped from 22% unemployed to 7% slightly higher than the national unemployment rate.  In fact, many builders are facing a shortage in employees as they try to build new homes for the buyer demand as quickly as possible in new home communities that once stood dormant during the Recession.  This increase in demand for construction employment has only been a boon for the real estate industry’s recovery overall.

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