Find out about the latest news in Madisonville, Louisiana as well as St. Tammany Parish. We will keep you “tuned in” to all of the information about Southeast Louisiana as well as the real estate industry in general. Many new home buyers are concerned about the market, mortgage information, and builder trends. We plan on keeping you as up to date as possible on these and many more topics. There is a lot going on in the Greater New Orleans area, so you will have plenty to read!

A Unique Siding For a Home

/in

Board and batten style siding is coming back in style and is a great way to add visual interest to the walls of your home. This style of siding can also boost the curb appeal of your home. This style of siding is constructed of thin strips of wood molding (battens) fixed on top of the vertical seams of panel or vertical siding. This timeless look is both rustic and trendy and can go on most any home design. Board and batten style siding can provide a clean, modern texture to your home, providing character and cozy warmth to the exterior.

Board and batten has been used ever since the conception of the U.S. It was first used on barns and sheds which is why many people refer to it as barn siding. It was not just for looks but served a very important purpose. The batten strips were used on siding to stop any outside elements from seeping into the joints. The animals in the barns would stay warm because of the batten siding.

Today’s modern board and batten style has many different design looks. The batten can be installed using panel siding, vertical siding, or lap installed vertically. This can be done with thin battens or wider battens and can have varying thin and wide battens. Many homes install board and batten style siding on the whole exterior of their home or just to accent a wall or a feature of the home. Other examples of using this style on the exterior are adding board and batten to the second story, mixing board and batten with brick veneer or mixing it with metal roofing.

When determining the cost of board and batten, you need to look at the size of your home, the design of your home, the overall project and the quality of the materials. Usually board and batten is made out of wood, but can be made from other materials such as vinyl, fiber cement or steel. Professionals in the industry say the most durable is engineered wood siding. It has the look of cedar texture but is more durable and easiest to maintain.

Re-siding your home can give it a completely different look and can boost your curb appeal. If you are in the market to sell your home, talk to a Realtor about how board and batten can enhance the curb appeal and look for your home.

Click Here For the Source of the Information.

Slidell’s Hospice House a Special Place

/in

St. Tammany’s Hospice House is a special place that is a nonprofit three bedroom, three bath place to stay. The facility operates like a bed and breakfast and houses those who have little time left here on earth. Guests who come to the house have been advised by doctors they have a limited time to live. The house will serve guests for up to 90 days according to Miranda Parker, Executive Director and there is no charge for their stay.

“We take care of them 24 hours a day, and we do every bit of it for free. We don’t charge the families or the patients, we don’t charge the insurance or Medicare. It’s completely, 100 percent free,” says Parker.

In order for it to be free, the house runs off of donations and fundraising that happens throughout the year. The most famous of the fundraisers is the yearly Crawfish Cook-off in Slidell. It is a separate organization from hospice agencies. The difference is that agencies take care of patients in their own homes while the house is a place to stay.

“We provide top-notch care for these patients, getting one-on-one attention, 24 hours a day. If they want an ice cream sandwich at 3 in the morning, they get an ice cream sandwich at 3 in the morning,” boasts Parker.

As for family and caregivers, it gives them a respite and helps them to get adjusted to their new normal. They can get back to being a family member and not feel the whole responsibility of being a caretaker.

Even though it is only a three bedroom home, the house has welcomed 61 patients in 2021 and over 55 in 2022. The house has six nurses who rotate in shifts so that patients will have care 24/7. These nurses are also there for patients to talk to and visit with and they are not required to be registered nurses or even licensed. The staff is trained to help patients in their current situation and help their families through it.

“That is what they’re born to do. I 100 percent believe that. It takes a special person to provide the love and support at the end of life. No one else wants to admit we’re mortal but it’s just something I think we need to get more comfortable with, and someone needs to know what your wishes are. It’s either a hard conversation now, or a hard conversation for someone else later,” says Gladys Wilkins, a nurse at Hospice House.

Click Here For the Source of the Information.

5 Tips On How To Get Your Dream Home

/in

Buying a home is an exciting life-changing event. There are so many things to consider from the perfect location to the perfect house. Here are five factors to consider when searching for a home.

1. Take Cost of Living Into Consideration

Different areas in your state or the country may cost more or cost less to live in. These costs include housing, food, utilities, healthcare, and transportation. You need to take this into consideration because this change in funds can affect the purchase price of your new home. There are tons of ways to research the cost of living in different areas.

2. Find a Suitable Climate

Consider weather conditions that you and your family will be comfortable in. You may never get snow where you live, but getting snow all winter might not adapt well to your living situation. Someone from the northwest might not like the warmer humid longer summers in the southeast.

3. Determine What’s Within Walking Distance

Many enjoy a walkable neighborhood where you can walk to eat, live and play. There are tons of ways to research the walkability report of a community that you are interested in. Before you choose a community, walk around it yourself to get a feel for the neighborhood.

4. Know If You Want Turnkey or a Fixer-Upper

Some homebuyers are great at DIY and others are not. Many want to put their stamp on the home in more ways than just designing a nice new home. Many homeowners love an old homes charm and character while others love the newness of new construction.

5. Figure Out the Financing

This is a super important step to take when it comes to buying a home. Both a lender and a realtor can help you with what type of mortgage is best for you. Remember that you will need a big chunk of change for closing costs and a down payment.

If you are thinking of purchasing a home, choose a realtor. A realtor can help you purchase a home and find the right home that would be perfect for you.

Click Here For the Source of the Information.

November Sees the Largest Drop In Mortgage Rates Since 1981

/in

According to reports, the 30-year fixed-rate mortgage was down 7.8% from the beginning of November 2022. Freddie Mac says this is the largest drop since 1981.“While the decline in mortgage rates is welcome news, there is still a long road ahead for the housing market,” said Sam Khater, Freddie Mac’s chief economist. “Inflation remains elevated, the Federal Reserve is likely to keep interest rates high and consumers will continue to feel the impact.”

Inflation does appear to be easing up according to the Consumer Price Index and Producer Price Index which reported that prices rose slower than predicted in October 2022. Even though interest rates are not directly changed by inflation, it does play a part. Mortgage rates are based on the track of the yield on 10-year US Treasury bonds.

“The 10-year Treasury dropped from 4.15% last Wednesday to 3.68%, as capital markets seemed to cheer the slowdown in inflation as a sign that the Federal Reserve’s monetary tightening is having its intended effect,” said George Ratiu, Realtor.com’s manager of economic research.

“Signs of slowing inflation pushed mortgage rates below 7% for the first time since mid-October, but with rates still relatively high and affordability correspondingly reduced, the average loan amount is now at its lowest level in nearly two years,” said Bob Broeksmit, president and CEO of the MBA.

Click Here For the Source of the Information.

Homes Sales Dropped For The 9th Consecutive Month October 2022

/in

Among these sale price drops seen in the past nine months, rising mortgage rates and high prices are two of the catalysts of the current situation. Buyers are getting fed up with this and are backing out of the housing market.

The National Association of Realtors reported that sales that include single-family homes, townhomes, condominiums and co-ops are down 28.4% from October 2021. Every region in the country saw a decline. This is the longest decline seen in home sales since 1999.

Home sales have been the weakest we have seen since May 2020 during the height of the pandemic. Current homeowners are not wanting to sell because of the uncertainty in the market. This is keeping the inventory low which is not helpful.

October reported 1.22 million units for sale. This is down from the month before and a year before. Currently, it would take only 3.3 months to get through what is currently on the market. A balanced market has around 4 to 6 months of supply. “Inventory levels are still tight, which is why some homes for sale are still receiving multiple offers,” Lawrence Yun, NAR’s chief economist added.

Yun also reports that household incomes have not risen enough to keep up with home prices. “First-time buyers are really struggling with high prices, the high bar to get into the market and high mortgage rates,” Yun says.

“This is why more new home construction is needed, as well as more rehabilitation of disused buildings into residential units,” said Yun, noting that while construction of apartment buildings remains robust, single-family starts are below one year ago and well below historical averages.

“In the meantime, mortgage rates are falling from the peak levels of last month and the gate is opening for more homebuyers to qualify for a mortgage.”

Click Here For the Source of the Information.

The Market Is Seeing a Decline in Home Prices

/in

For two years we have seen a boom in the housing market when it comes to price appreciation. We have finally seen the peak, as the prices are now declining.The breakfast room has tons of space for a table that seates six.

Prices will keep declining in the near future but will not drop as far as they did during the recession. From the peak in 2006 all the way through to 2012 there was a 27% decrease in home prices.

“It was different in 2008, 2009 because that drop in prices was because of a push from sellers,” said Jeff Tucker, senior economist at Zillow. “Because of foreclosures and short sales there were a lot of extremely motivated sellers who were willing to take a loss on their homes.”

“I would be surprised to see prices anywhere drop below where they were in 2019,” said Tucker. “There was some overheating in the housing market in 2021 through this spring that pushed prices higher than what the fundamentals would support. Now they are coming down.”

With the soaring mortgage rates along with elevated home prices and slow increases in wages, home buying is not in most potential buyers’ future. According to Goldman Sachs we should see a decline of around 5% to 10% from the peak, Wells Fargo predicts a 5.5% decrease. This means the median home price will fall to $364,000.

“The primary driver behind the housing market correction thus far has been sharply higher mortgage rates,” the Wells Fargo researchers wrote. “If our forecast for Fed rate cuts is realized, mortgage rates are likely to fall slightly just as cooling inflation pressures boost real income growth. A modest improvement in sales activity should then follow, which will reignite home price appreciation heading into 2024.”

Click Here For the Source of the Information.