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!

Is the Housing Market Slowing Down?

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According to data from the National Association of Realtors, pending home sales increased for the first time in six months in December 2022. Along with this it also reports that new home sales and mortgage applications are rising.

This has many in the industry asking if the housing market is slowing down. “The recent low point in home sales activity is likely over,” says NAR Chief Economist Lawrence Yun. “Mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to stabilize the market.”

The new home market is seeing some progress even with higher construction costs and low affordability.

“Builder incentives and declining mortgage rates during the month of December helped push new-home sales up for the month,” says Jerry Konter, chairman of the National Association of Home Builders.

“The new normal for mortgage rates will likely be in the 5.5% to 6.5% range,” Yun says. “Job gains will steadily become important in driving local markets. The South, in particular, is set to outperform the rest of the country, thanks primarily to better job market conditions in this part of the country compared to other regions.”

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2023 Will Be a Big Year for St. Tammany When It Comes to Road Construction

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St. Tammany residents are very familiar with traffic congestion in the parish. There is faster growth in St. Tammany Parish than the road capacity can handle, especially at major corridors like Interstate 12. In fact, residents have gone to social media about such issues. Outdoor Living Space WIth Custom Furniture.

“Treat yourself like I-12 and never stop working on yourself, no matter how inconvenient it is to everyone else,” a poster quipped on one Facebook page devoted to the topic.

According to the state Department of Transportation and Development, they are in the second phase of the $187 million project of widening I-12. This includes 3 miles from Lousiana 21 to US 190 and along with that stretch, they will widen the bridge over the Tchefuncte River. The third phase will include from Louisiana 21 to Louisiana 1077 which will be bid on in July 2023. Sec. Shawn Wilson noted that it is taking a long time because the interstate work must be done in phases.

Along with the I-12 project, there are several other road construction projects happening in St. Tammany. One to note is the new 20-mile four-lane highway that will stretch between Lacombe to Bush. Another one is the new Bridge on US 190 over the Bogue Falaya River in Covington.

“These are very impactful projects to ease traffic and make it safer,” St. Tammany Parish President Mike Cooper said.

Over the next year, the DOTD will spend around $172 million on 22 projects in St. Tammany Parish. Another one to note is Louisiana 3241 which is funded by the 4-cent-per-gallon gasoline tax.

“It should have been here 30 years ago,” Wilson said of the highway that will run from the juncture of I-12 and Louisiana 434 in Lacombe north to Bush.

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How the Mandeville Children’s Museum Rang in the New Year

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The Children’s Museum of St. Tammany Parish in Mandeville came up with a unique way for a family fun event to ring in the New Year. Children and their families can to the museum early on New Year’s Eve to celebrate ringing in 2023. The courtyard entry is a private enterance that welcomes you into this home.

There were tons of games and activities for everyone and they celebrated by having a noon balloon drop. Kid-friendly music was performed live by the Imagination Movers.

The museum has also recently celebrated and welcomed Christy Myers as its first executive director. She has worked closely with the museum since it opened.

“I’m really looking forward to thinking in the long term now,” Myers said, expressing thanks for a board that envisions the museum as a place “where play is encouraged, creativity is nurtured and learning is enjoyed on the north shore. Our board members are very hands-on ” Myers said.

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The Mortgage Rates of 2022

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The end of 2022 saw a dip in mortgage rates with the 30-year fixed-rate mortgage at an average of 6.49% even though this is down from the week prior at 6.58% it is still way up from the same time last year which averaged 3.11%.

The Federal Reserve has been boosting the interest rates due to easing the rising inflation but they are falling because inflation has “reached its peak.” According to Jerome Powell, Fed Chairman, they started to cool off on the spike in rates December 2022. Although the rates were dipping and home prices were easing up, homebuyer demand was still slowing down at the end of 2022.

“Mortgage rates continued to drop this week as optimism grows around the prospect that the Federal Reserve will slow its pace of rate hikes. Despite some promising developments, we have a long way to go,” said Sam Khater, Freddi Mac’s chief economist.

“The Fed is indicating that the aggressive rate hikes this year have been enough to start slowing inflation,” according to George Ratiu, Realtor.com’s manager of economic research.

He also goes on to explain that the falling away from 7% rates is a relief to homebuyers. Due to the dip, homebuyers have been more positive and welcome the slow down. Mortgage applications have been rising according to the Mortgage Bankers Association.

“The silver lining is that inventory of homes for sale continues ramping up, even with sellers taking a step back from the market this fall. Buyers who are ready can expect more properties to choose from, and a better negotiating position,” says Ratiu.

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A Unique Siding For a Home

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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.

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Slidell’s Hospice House a Special Place

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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.

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