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!

New Orleans Named 2nd Best Place to Retire

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Using the following criteria to rank 75 different cities in the United States – presence of fellow retirees, affordability, weather, and walkability, a company called NerdWallet ranked New Orleans as the 2nd best urban place to retire in the U.S.  NerdWallet is a blog that covers topics like mortgages, insurance, investing, banking, and small business advice.  Their blog articles are “by the numbers,” when it comes to statistical walking-in-nolaanalysis, so they also have a cost of living calculator that aided in their decision making process.  New Orleans actually has a lower cost of living compared to larger metro areas such as New York City.  The city was only 2nd place behind Miami because Miami already such a high population of retirees.  Top five cities also included 2 cities in Texas – El Paso and Corpus Christi as well as Mesa, AZ.

One of the biggest draws for the Greater New Orleans area was weather.  Located so far deep in the South, New Orleans mild climate boasts temperate temperatures 7 months out of the year with intense heat during the summer months.  Colder temperatures tend to linger midway through December into the middle of February, but they are no match for their northern counterparts.  Other factors that helped with New Orleans score of being a great place to retire was the rich culture, excellent cuisine, events and services provided by the New Orleans Council on Aging, and the walkability and access to local sights and venues.

192-st-calais-exteriorOne of the factors that was not mentioned by NerdWallet was that the Greater New Orleans area, at present, is experiencing a huge real estate boom.  Both on the Southshore and the Northshore, there are homes for sale with stabilized home pricing and lots of options from which to choose.  New homes especially are very popular with solid numbers of new home starts and new home sales.  On the Northshore, there are several new neighborhoods with homes for sale, and in Madisonville, Louisiana, Bedico Creek Preserve offers a master planned conservation community with 3 new neighborhoods with lots for sale in St. Tammany Parish.

This is good news for retirees because Bedico Creek offers low-maintenance garden homes that have open, amazing floorplans with just enough square footage for comfortable living space and smaller lots with less yard work.  Private courtyards are popular on these garden homes for sale because they offer plenty of room for landscaping creativity as well as decorative, relaxing fountains.  So, if you are considering the Greater New Orleans area as your place to retire, and you are an active nature lover who plays and walks in the great outdoors, consider Bedico Creek Preserve on the Northshore of Lake Pontchartrain in St. Tammany Parish.  For More Information about our Lots for Sale and Garden Homes for sale, Contact Us at 985-845-4200 or E-mail [email protected].

 

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Youth Involved in Making a Difference in St. Tammany Parish

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Many programs and organizations exist today which teach ordinary people to construct homes and buildings for those less fortunate.  Habitat for Humanity has a large organized program in East St. Tammany Parish and conducts projects throughout the Greater New Orleans area.  One of the national organizations which focuses entirely on young people is called World Changers.  This organization provides youth volunteers who work on the homes of people in need.  They learn construction skills such as carpentry, painting, flooring, roofing and much more.  The focus of the ministry is to offer service opportunities for young people to become involved in helping people and also, as a side benefit, getting an education in the construction industry.

The projects are chosen based on an application process for low to middle income families in need.  The beneficiaries in St. Tammany Parish this year include the elderly and disabled.  On June 23, 2014, volunteers for the World Changers organization will come into town in St. Tammany Parish for 5 days to work on the homes of these program beneficiaries.

The materials used in construction, such as wood, paint, caulk, sheetrock, windows, doors, etc. are purchased through a grant called the Community Development Block Grant, which is a federal program.  A local company, Kent Design+Build of Mandeville, is sponsoring Adam Martin, the construction coordinator for the project.  He will be overseeing the construction of the project as well as the safety and education of the volunteers.

The World Changers is an entity of LifeWay Student Ministries, and this is its third consecutive year of sending students out for a week at a time during the summer to help refurbish the homes of people in need.  The students will be housed on the campus of the First Baptist Church of Covington, according to Family Life Pastor Bill Boren.  For the grateful applicant recipients as well as the students involved in the ministry, it is a win-win opportunity to benefit those less fortunate in St. Tammany Parish.

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Export Trade Business Support Coming to St. Tammany Parish

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Known as one of the largest growth areas of the I-12 corridor, St. Tammany Parish is currently “home” to 79 exporters which provide 843 jobs.  Because of this fact, the St. Tammany Parish Economic Development Foundation has now partnered with the U.S. Department of Commerce’s International Trade Administration.  The goal of the partnership is to educate and inform companies about the opportunities, benefits, and financial rewards of exporting products and services abroad.  The goal of the partnership is to offer tools and resources to small and medium-sized businesses to compete in the global marketplace.

“Through this partnership, we hope not only to maintain but cultivate a larger export industry in St. Tammany Parish and throughout the region,” said Brenda Bertus, the economic development foundation’s chief executive officer in a news release.

Louisiana exported $63.1 billion in products during 2013, and this amount has been increasing over the last 4 consecutive years, setting records according to the U.S. Department of Commerce.  The last year’s increase for Louisiana was 03%.  Ken Hyatt, the acting under-secretary of the International Trade Administration said that 95% of potential customers for products and services live outside the United States, and as many communities, counties, and parishes should be involved in expanding their business to selling outside of the United States.

The Greater New Orleans area has a reputation for being a highly entrepreneurial market.  Several annual seminars and trade shows are held throughout the year for entrepreneurs, and these events typically have competitions to award monies and grants to successful businesses, for start-up or investment costs.  In St. Tammany Parish, there are many homeowners who own their own businesses, including residents who are currently living in Bedico Creek Preserve in Madisonville, Louisiana.  Bedico Creek offers more than just New Homes for Sale, we offer an exceptional lifestyle in a progressive parish, which is constantly making headlines and setting records for economic growth.  Come be a part of growth on the Northshore and possible the international community.  Visit Bedico Creek today – call 985-845-4200 or E-mail [email protected].

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Over 1 Million in Housing Starts and an Increase in New Home Sales in April, 2014

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Housing starts and permits exceeded 1 million in statistics posted by the National Association of Home Builders.  Housing starts numbers were driven nationally by multi-family residential construction starts mainly in the Midwest.  However, single-family home starts increased 14,000 to a rate of 649,000 new home starts, up from 635,000 starts in March, 2014.  Also, housing permits were also at over 1 million for the 3rd consecutive month, indicating a strong and steady upward trend of the real estate market.

Sales have been brisk at the beginning of the spring housing season – a time of year typically known to reflect strong housing statistics.  New home sales increased by 6.4% to 433,000 homes.  In St. Tammany Parish at Bedico Creek Preserve, sales for our new homes have also been higher than average and very steady, reminiscent of a “normal” real estate market in the spring.  During the St. Tammany Parrish 2014 Parade of Homes, our builders experienced record traffic to the neighborhood, and some were able to secure appointments and contracts for future business.

Nationally, Bedico Creek Preserve is following recovering housing market trends in that we are now consistently building new inventory homes for sale.  When the market was tighter, builders preferred to build homes for new home buyers that were able to contract on a new home and then build it to their specifications.  Now, at Bedico Creek Preserve, we are offering a new Neighborhood called Cypress Crossing, where 3 of our experienced and top Builders are building new “spec” homes for sale.  There are a variety of floorplans from which to choose, and home buyers will enjoy all of the Amenities of Bedico Creek including 500 acres of green space and water features. Nationally, 192,000 new homes are currently available for sale up from an all-time low inventory of 142,000 new homes in July, 2012.

Some statistics that directly affect home buyers in St. Tammany Parish include that home starts for owner/builders who build a new, custom home on their own land or a lot purchased in Bedico Creek Preserve rose, nationally, to 27,000 starts up from 25,000 in the first quarter of 2013.  Also, average home sizes have increased in all categories nationwide as a reflection of buyers currently active in the new, single-family home market.  Details of these increases are listed below:

•    During the first quarter of 2014, the average single-family floor area increased from 2,656 to 2,736 square feet.
•    During the first quarter of 2014, the median square footage of a single-family home rose from 2,465 to 2,483.
•    Based on averaging new home sizes on a 3-month basis, new homes overall have increased 13% to 2,685 square feet.
•    Based on the same time period of 3-months, the median size of new homes has increased overall by more than 17% to 2,471 square feet.

Bedico Creek Preserve has specific requirements for the square footages of our new, custom homes which can be found by interested home buyers in our Design Guidelines.  However, most homes in Bedico Creek either meet or exceed these national numbers.  The Greater New Orleans area in general experienced less of the devastating effects of the Great Recession, and St. Tammany Parish new home sales seem to either be matching or exceeding the recovery numbers recorded by the National Association of Home Builders.  Visit Bedico Creek Preserve today to discover a quiet, country lifestyle with livable lots for sale and some of St. Tammany Parish’s top-rated builders.  Contact us at 985-845-4200 or E-mail [email protected].

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NAHB Economists Urges Congress to Support Housing Growth

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Requesting a retroactive extension of the 9% credit rate for the Low Income Housing Tax Credit as well as an extension to the credit for energy efficient building measures both for remodelers as well as new home construction, Robert Dietz, economist for the National Association of Home Builders (NAHB), addressed Congress regarding the phenomenal growth in the housing industry over the last 2.5 years which directly contributed to the GDP of the United States.  Dietz also strongly emphasized the effect of government regulation of the home building industry and encouraged the retention of the mortgage deduction program as well as continuing with the Low Income Housing Tax Credit – currently the only housing program in place for low income families to get any type of government assistance.

274,000 jobs have been added in the real estate industry both directly with jobs for carpenters, electricians, framers, and plumbers, and peripherally in segments such as manufacturing, retail, wholesale, and transportation of materials. The National Association of Home Builders presented the following statistics based on the construction of approximately 1,000 homes and its direct impact on the housing market in today’s economy.  Currently, the home building industry comprises 15.5% of the GDP, but a healthy margin for real estate is actually between 17% – 18%.

Information regarding building an average of 1,000 single-family homes:

• Creates 2,970 full-time jobs
• Brings in $162 million in wages
• Merits $118 million in business income
• Achieves $111 million in taxes and revenue for state, local and federal governments

“In April alone, home builders and remodelers added 13,100 jobs,” Dietz said.  He predicts a growth in the housing industry in 2014 of 22% bringing the number of new, single-family homes to 760,000.  He also said that the multi-family market (apartments and rentals) should grow by 6% to 326,000 units. Surprisingly, the multi-family market also represents a large economic force by creating 1,130 jobs for an average of 1,000 new units built, including those units designation for the Low Income Housing Tax Credit.  Additionally, 890 jobs are created by an average of $100 million in remodeling costs, according to NAHB statistics.

The future outlook for the new home and multi-family home industry shows that 2014 should reflect housing starts of over 1 million, and Dietz predicts that housing starts over the next few years should rise to around 1.7 million homes.  This is good news for homeowners nationwide as statistics show that most middle class families have most of their equity / wealth wrapped up in their real estate holdings.  62% of household assets are wrapped up in homeownership, and that same ownership reflects 42% of their wealth.  Approximately 67% of Americans own a home while only 50% have a retirement account and 16% have stocks and bonds.

The message to Congress from the NAHB was told loud and clear that the real estate market directly affects the United States’ economy as well as its citizens’ assets.  Many markets nationwide are seeing a slow and steady growth in the construction of single-family homes as well as a reduction of the amount of homes available on the market for sale.  At Bedico Creek Preserve in St. Tammany Parish, we are experiencing phenomenal growth both in the sale of our New Homes for Sale as well as our New Lots for Sale.  If you haven’t had a chance to visit our master-planned community, Contact Us at 985-845-4200 or E-mail [email protected].  We would love to show you around our new home habitat!

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Southern Hotel Renovation Complete in Downtown Covington

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107 years before the date of June 1, 2014, the Southern Hotel opened its doors to hotel guests for the very first time.  From June 1, 1907 to 1957, the hotel offered to its guests a physical and spiritual environment in which they could findsouthern-hotel-covington-louisiana serenity and get re-energized.  The Northshore itself was known for its retreat-like atmosphere for “townies” where would travel across the lake by ferry to take a weekend retreat in St. Tammany Parish.  So, it is no surprise that the Southern Hotel of yesteryear would offer a spa-like experience for its guests.

The hotel building itself did not stay a hotel after its 50-year run.  As recently as 2005, after Hurricane Katrina, the buildings were used for government purposes, specifically the Red Cross, to aid in the hurricane recovery after the storm. One constant part of the tugys-bar-southern-hotelbuildings facade has remained, though – Tugy’s Bar.  Even though the bar itself was unable to stay in business, that part of the building has retained its usefulness as a bar for all of these years.

The Southern Hotel building was purchased by developers Lisa Condrey Ward, Joseph Ward, and Ricky and Gayle Condrey in 2011.  What would be considered a fairly “quick” construction renovation of a building in St. Tammany Parish, especially in downtown Covington, the Southern Hotel is holding its grand opening, ribbon-cutting ceremony on Friday, May 30, 2014, at 11am.  Anyone who lives or works in the area is invited to attend other celebratory events at the hotel over the weekend of May 30th to June 1st to mark its 107th anniversary and a return to its original purpose and use.

The hotel will feature 42 guest rooms, a 2,400-square-foot ballroom, meeting space, a restaurant, an upscale bar, and spa treatment and fitness rooms.  The opening of this hotel will fill a hole for an upscale, somewhat boutique hotel, in the heart of downtown Covington on Boston St.

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