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!

The New Year Began With Strong Single-Family Permit Gains

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The National Association of Home Builders Eye On Housing reports that January 2021 was a month to celebrate in the housing industry. Single-family permit gains saw a year-over-year 19.2% increase from January 2020. In January 2020 the level was reported at 70,386 and in January 2021 the level reached 83,921 year-to-date YTD.

All four regions saw increases. The Midwest saw an increase of 21.5%, right behind the Northeast with a 20.7% increase, the South 20.3% and the West came in last with a 15.1% increase. Sources feel that the Midwest saw the biggest increase due to the area’s more affordable housing.

Not all states saw a YTD increase from January 2020 to January 2021. The highest increase was in South Dakota going from 99 to 202 with a 104% increase. The biggest decline was seen in Montana from 171 in 2020 to 144 in 2021 making this a decline of 15.8%. The top 10 states with the highest numbers combined accounted for 64.1% of the total single-family permits issued.

Metropolitan Statistical Area Single-family Permits: Jan (Units #YTD, NSA)

Metropolitan Statistical Area Single-family Permits: Jan (Units #YTD, NSA)
Dallas-Fort Worth-Arlington, TX 4,330
Houston-The Woodlands-Sugar Land, TX 4,258
Phoenix-Mesa-Scottsdale, AZ 2,656
Atlanta-Sandy Springs-Roswell, GA 2,622
Tampa-St. Petersburg-Clearwater, FL 1,954
Austin-Round Rock, TX 1,940
Charlotte-Concord-Gastonia, NC-SC 1,506
Washington-Arlington-Alexandria, DC-VA-MD-WV 1,335
Jacksonville, FL 1,275
Nashville-Davidson–Murfreesboro–Franklin, TN 1,208

Three Must Have Features for the 2021 Homebuyer

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The COVID-19 pandemic has shifted the way buyers think when it comes to the features they must have in a new home. The list of desired features can be a litany of things, but these three top the list when it comes to the broader overall trends.

Spaces in a home usually have a sole purpose, but in this day in age, a dining room can also be a classroom. Buyers are wanting flex space in a home that can be transformed effortlessly.

“Great rooms divided by screens to create privacy, spare bedrooms converted into offices, and areas that function as a workspace by day and a dining room by night,” lists Doreen Trudeau, Global Real Estate Advisor with Venture Sotheby’s International Realty in Hawaii. “The need to create secluded workspaces, especially with more than one professional in the house, has owners repurposing nooks and closets.”

Modularity can be done in a hundred different ways. Realtors are demonstrating this key factor to clients when showing a home. Two great examples are fold-out desks and retractable walls. Realtors are also coming up with ideas for flex space outside of the main home.

“There are many creative ways to achieve a dedicated workspace with under-utilized outdoor spaces. Some that I’ve seen include detached office sheds and gazebos,” said Clark Niemeyer, a Real Estate Professional with Realogics Sotheby’s International Realty in Seattle.

Openness has also become a big selling factor when it comes to a home’s floor plan. Today, buyers are seeking a floor plan to be functional and versatile and connective, and borderless. Good features that can help achieve openness are high ceilings, floor-to-ceiling windows, properly scaled furniture, and connectivity to the kitchen. Color can also hinder or enhance the openness of a home. Dark rooms usually appear smaller than light-colored rooms.

“Buyers are looking for seamless transitions between interior and exterior areas,” explains Trudeau. “Glass doors and negligible window coverings are two ways to create the illusion of larger space.”

The stay-at-home orders caused everyone to look at their home in a different light. Your home became your retreat 24/7. Realtors are now finding areas in the home that are designed for joy, escape, and relaxation.

“Comfort has become paramount as we spend more time in our homes,” says Trudeau. “Most of my buyers still want a clean, linear space—simplicity with an emphasis on durability. Performance fabrics are becoming more popular as we live and work from home. Quality still resonates with the affluent buyer, but in design, less is more.”

A sanctuary for a homebuyer could be a separate home spa or an ensuite bathroom with high-end amenities. A tranquil setting could be created with soft, white neutrals and natural, organic materials in a home.

A good Realtor can help a homebuyer find a home that has one or all three of these features. A local sales agent can shed light on instances of modularity, openness, and sanctuary in a new home.

Click Here For the Source of the Information.

First-Time Home Buyers Make Up Most of the New Home Market

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The February 2021 National Association of Home Builders/Wells Fargo Housing Market Index (HMI) reported that 43% of homebuyers in the new home market were first-time home buyers. Two-thirds of builders with single-family starts in 2020 said that 20% of their homes were sold to first-time buyers.

The report also revealed that 15% of new single-family home sales were second homes. A second home according to the report includes homes that are used as a vacation home or investment property. According to 65% of the builders of single-family starts in 2020, 5% of the homes were sold as second homes.

The NAHB/Wells Fargo Housing Market Index is derived from a survey that is monthly given to NAHB members. This survey is designed to take the pulse of the single-family housing market. These chosen members are asked to rate the housing market on a scale of “good”, “fair” or “poor” and a scale of “high to very high”, “average” or “low to very low”. There are three separate parts of the measurements which are Present Single-Family Sales, Single-Family Sales for the Next Six Months, and Traffic of Prospective Buyers.

Click Here For the Source of the Information.

Tips To Follow To Design a Better Home This Year

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Homeowners are changing their view on a home’s purpose and design this year due to the COVID-19 pandemic. Not only do homeowners want more space but they also want to design a space that can be used for multiple purposes. The International Builders’ Show’s Education and Exhibitor Showcase had sessions that showcased how to design a better home.

1.60 Design Ideas in 60 Minutes

During the session, those that attend will be introduced to current design ideas and strategies. Those leading will include industry-leading architects, interior designers, developers and builders. The sessions will feature how you can use these ideas and strategies to update your elevations, renew floor plans, animate streetscapes, enhance amenities and develop dynamic neighborhoods.

2. Smaller Floor Plans that Don’t Feel Small: Great Floor Plans Under 2,500 SF

This year the industry is focusing on how to design homes on a smaller footprint that does not feel cramped.

“This is exactly what I had hoped for — inspiration and ideas,” an IBSx attendee stated.

3. Designing Homes & Communities Beyond the Pandemic

The pandemic has definitely changed the way we approach building homes. There is more of a holistic approach when it comes to a design in a home.

4. Home Trends, Buyer Preferences & Most Likely Features for 2021

The National Association of Home Builder’s current research identifies how new home construction has changed since 2000. Buyer preferences and perceptions have dramatically changed in 2021. The affordability and availability in the current housing market are hot.

5. The 2021 Kitchen: Floor Plans, Finishes & Design Details That Make a Kitchen Pop

This session includes a tour of the ideal 2021 kitchen. Award-winning design leaders will walk attendees through the new 2021 kitchen floor plans, finishes and design details.

6. Small Spaces, Big Impact: Bathrooms, Entryways, Storage & Other Jewel Box & Flex Space Buyers Want

Builders are using every nook and cranny now. In this session interior designers and architects reveal design details, plan considerations, finishes and tech needs of many overlooked and underappreciated small spaces.

To learn more about exciting on-demand options for your 2021 home check out the IBSx exhibitor directory.

Click Here For the Source of the Information.

St. Tammany Makes Recommendations To Change an Ordinance for Subdivision Development Requirements

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March 16, 2021, an amendment was approved that added more requirements for applicants to provide when it comes to major subdivisions. The parish planning department will now require the following information at the initial, tentative phase which includes the location of all drainage, access, and utilities’ rights of way, topological contours extending at least 100 feet beyond the proposed subdivision boundary and the direction of flow of surface water in roadside ditches, canals, and drainage features.

If adopted commissioners will review and consider the drainage impact of a subdivision when it first appears on their tentative approval agenda, rather than having to wait to do so at the subdivision’s preliminary and final hearings. John Martin, Goodbee Civic Association president is excited about the amendment.

Another amendment was also discussed at the March 16th meeting which will change the current regulations where traffic and drainage impacts cannot be discussed during a rezoning hearing. The amendment would allow its members to consider the impact of a planned unit development overlay on traffic and drainage before granting the overlay request.

Developers will see the full impact of the changes in the New Directions 2040 committee’s report.

Click Here For the Source of the Information.

2021 Sees A Gain in Single-Family Permits

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The first month of 2021 had a 19.2% year-over-year increase over January 2020 for single-family permits. In the first month 83,921 were issued nationwide which was an increase in all four regions. Midwest reported a 21.5% increase, the Northeast saw a 20.7% increase, the South a 20.3% increase and the West saw a 15.1% increase.

From January 2020 to January 2021 46 states and the District of Columbia experienced growth in single-family permits.  The highest growth rate was seen in South Dakota with a 104% increase.  Montana was one of the four states that saw a decline with a 15.8% decline.

At the local level, below are the top 10 metro areas that issued the highest number of single-family permits.

Metropolitan Statistical Area Single-family Permits: Jan (Units #YTD, NSA)
Dallas-Fort Worth-Arlington, TX 4,330
Houston-The Woodlands-Sugar Land, TX 4,258
Phoenix-Mesa-Scottsdale, AZ 2,656
Atlanta-Sandy Springs-Roswell, GA 2,622
Tampa-St. Petersburg-Clearwater, FL 1,954
Austin-Round Rock, TX 1,940
Charlotte-Concord-Gastonia, NC-SC 1,506
Washington-Arlington-Alexandria, DC-VA-MD-WV 1,335
Jacksonville, FL 1,275
Nashville-Davidson–Murfreesboro–Franklin, TN 1,208

Click Here For the Source of the Information.