Beautiful subway tile surrounds the shower tub combo and compliments the vanity counter.

St. Tammany Parish Council Delays Moratorium on Residential Rezoning

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St. Tammany Parish Council will have a proposed moratorium that will ban rezoning that will increase subdivision density. The proposal will not appear on the agenda until late spring. Parish President Mark Cooper believes the moratorium will help with accurate planning and assessing for growth in St. Tammany.

“The reality in St. Tammany Parish is that development is outpacing infrastructure improvements and has been for years,” said Cooper.

Originally the moratorium was to be put on the agenda for the March 3rd vote but was delayed. Jerry Binder explained that the agenda for March 3rd’s meeting already had nine zoning appeals and thirty proposed ordinances. Five of the agenda items were to overturn Zoning Commission denials of rezonings for Timber Branch II, a controversial development.

The moratorium would not affect any commercial-zoned properties and would not apply to any development of any property under its current zoning. The purpose is for the moratorium to halt any rezoning or resubdivision of residential properties that would allow density greater than one house per acre.

Many residents are concerned and want the moratorium to pass. They are frustrated with the overdevelopment in their community that is negatively affecting the roads, drainage, water, and sewage. In fact, a group called the Concerned Citizens of St. Tammany has suggested to the council to not allow any high-density appeals to be approved until the moratorium is voted on.

“The time has come when we should stop codling developers seeking discretionary rezoning,” says Rick Franzo, a member of the Concerned Citizens of St. Tammany.

Click Here For the Source of the Information.

The 2022 Housing Market and How Interest Rates Will Change It

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A four bedroom three bath home that has a side entry garage.For the past few years, the housing market has seen historically low-interest rates but this might change. Sources report that we will be faced with rising interest rates throughout 2022. Here are some tips that professionals in the industry look at when determining the change housing market.

This year the market is starting to slow down on refinancing and pick back up with purchasing housing. The 30-year loan average interest rate jumped from 3.5% to 3.64% in just two weeks int the beginning of the year. Home prices also increased close to 8% due to the fear rates will start to rise.

Fortunately, we no longer have stay-at-home orders and the unemployment rates are down 2.8% from this time last year. More homes are being built so the low inventory problem is resolving. Data shows that there is a 34% increase in new homes being built across the country. Job security and more inventory should encourage hopeful homebuyers.

The shift in remove work has also changed what homebuyers deem important in a home. As of September 2021, 45% of full-time employees worked remotely. More people are looking for a single-family home with more bedrooms and a finished basement.

The 2022 market is looking good. Just because interest rates are rising, doesn’t mean now is not a good time to purchase a home. There are many factors that come into play that help balance the housing market event with high home prices and rising interest rates.

Click Here For the Source of the Information.

Abita Springs Whole Town Garage Sale, March 26, 2022

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This is one of the largest sales around in Abita Springs.

Whole Town Garage Sale

Throughout Abita Springs
22161 Level Street
Abita Springs, LA 70420


March 26, 2022
7am

This is a free event

 Click Here for More Information.

 

A nice externded drive and plush landscaping.

The End of 2021 Saw Gains For Private Residential Spending

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The National Association of Homebuilders’ Census Construction Spending reported that the total private residential construction spending jumped 1.1% at the end of 2021. In December 2021 spending was at an adjusted annual rate of $810.3 billion with a total that was 15% higher than in December 2020.

Single-family construction spending rose to a $435 billion annual pace which was up 2.1%. Multi-family constructions spending rose 0.4% but was hurt a little due to supply chain issues. In fact, home building is still facing supply chain issues and labor shortages.

Private non-residential spending stayed the same towards the end of 2021. December saw a rise from November 2021 which was 9.1% high than a year ago. The largest month-over-month nonresidential spending increase was made by the class of office ($0.49 billion), followed by amusement and recreation ($0.4 billion), and class of lodging ($0.37 billion).

Click Here For the Source of the Information.

Swinging For Scholarships Golf Tournament, March 24, 2022

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Golf tournament that benefits the Chamber Scholarship Fund in St. Tammany.


 Golf Tournament

Beau Chene Country Club
602 N Beau Chene Dr.
Mandeville, LA 70471

March 24, 2022
10:30am

Price:$600 per team of 4, $175 per player

 

Click Here for More Information.

 

Four bedroom three bath home built close to New Orleans.

Top Three 2022 Real Estate Investment Trends

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Today’s housing market is booming and prices are continuing to rise. The National Associations of Realtors has reported that the median price of existing single-family homes has risen by double-digits in 78% of the tracked markets. Real estate investing is also increasing, and investors depend on key trends in the market. Here are the top three trends for 2022.

1. The Continuation of Historically Low-Interest Rates

Even with talk that the interest rates will rise next year, they still will be at historical record lows.  David Bianco, chief investment officer for the Americas at DWS Group, expects two quarter-point rate hikes next year. This should not be too much of a concern due to the 30-year Treasury bond is still holding at less than 2% and the 30-year fixed mortgage rates are a little above 3%. These lows will keep the housing market booming.

2. The Emergence of Alternate Property Sectors

With the expansions due to the hot market, investors are keeping an eye out for these opportunities. Investors are watching for single-family build-to-rent residential opportunities. Many homebuyers are still shying away from the cities after the pandemic scare. Due to this shift, build-to-rent properties are becoming popular. According to industry research, single-family homes built between 2019 and 2020 for rent increased 30%. “Last-mile industrial real estate has also become a big interest. Online shopping has grown especially during stay-at-home orders making warehouses a lucrative investment. Another popular opportunity currently is multi-asset real estate in the South East. Multi-family communities have steadily gained popularity.

3. The Sunbelt is Positioned for Further Appreciation

The Sunbelt includes cities that are located in the southern third of the country. The area is seeing a very strong demand for real estate. This strong demand is due to population growth, business-friendly local governments, and milder climates. Census data reports that the Sunbelt is home to 10 of the 15 fastest-growing cities in the U.S. States such as Tennessee, North Carolina, Texas, and Georgia are business-friendly which attracts higher real estate prices. A warmer climate allows for fewer maintenance expenses as well.

If you are a home buyer or an investor looking for real estate, don’t do it alone. Contact a Realtor who can help you purchase a home or an investment property.

Click Here For the Source of the Information.