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 Home Sales Pace Extends to a 3-Month Marathon

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The National Association of Home Builders (NAHB) has announced once again that sales for new, single-family homes rose in May, 2013.  However, that is not the news that builders here in St. Tammany Parish are most excited about.  The big news is that new home sale increases – nationwide – and locally in the Greater New Orleans area have been steady over the PAST 3 MONTHS!  There are a lot of statistics coming out New York and Washington that are comparing home pricing and home sales to numbers pre-Recession.  May’s new home sales increase of 2.1% is the fastest sales pace recorded since July of 2008.  The number of new homes sold nationwide is 476,000 total.

The market itself is a reflection of the sales increase.  The supply of foreclosed and “sitting inventory” has been steadily dwindling bringing the current “on-the-market” time period to just 4.1 months, which is much less than the 16, 18, and even 24-month supply we saw in 2009.  Builders are reporting that the demand for housing especially new housing, is being combined with low interest rate availability and loosening lending practices from mortgage companies and banks.  Because regulations are no longer “being changed daily,” lenders are finding it easier to navigate through the new federal requirements.  As they become more comfortable with the process, they are able to help more buyers get qualified for a loan.

St. Tammany Parish just reported record numbers of building permits being pulled both by residential and commercial builders.  Bedico Creek’s lots have been steadily selling, and we have brought on more Builders for our buyers to interview when purchasing their new or custom home.  Overall, both nationwide and here in Madisonville, the housing market is showing signs of positive growth.  To find out more information, call 985-845-4200 or E-mail Info@LiveBedico.com.

Click Here for the Source of the Information.

Home Pricing Going Up – Consumer Confidence on the Rise

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The buzz around town is that FINALLY, the market is starting to balance out as 1st quarter home pricing shows a 10.2% rise in home prices in just March, 2013, alone.  This is the largest house price increase in 7 years with the last increase of home pricing happening in fall of 2006.  Bond yields also rose to 2.132%, proving to be the largest climb in 13 months.  Interest rates, which have been holding at 2.75% for 15-year loans to upwards of 3.8% for 30-year mortgages also climbed slightly as the bond yields rose.  All of these factors also sent the Dow Jones Industrial Average soaring to a new high.

So, what does this mean for current home buyers?  As the inventory of foreclosed homes trickles out, and home prices are rising (along with interest rates), NOW, more than any other time since the Recession began, is the right time to buy a home.  The real estate industry is showing Housing-Pricessigns of bouncing back, and if this trend continues, the word on the street is that demand will start to outpace supply driving home pricing up even further.  As of right now, it is still a buyer’s market out there, but that could definitely change with all of the positive news coverage of these exciting events.  As consumer confidence grows, those home buyers who were waiting to purchase their new home will “get off of the fence” and become a part of the buying market.  Also, Realtors are getting into the action encouraging their clients to go ahead and move forward with their purchases while home pricing is still favorable, and interest rates offer the opportunity for buyers to have more purchase power – being able to finance more for less, so to speak.

Here at Bedico Creek Preserve, we have experienced a surge in home buying ourselves with the sale of every available Resale home in our community since the middle of last year.  Our new home sales are also at a steady pace.  Currently, we have a large list of Builders, with more buying lots every day, who are building new and custom homes for sale in our community.  If you have never purchased a new home before, you should definitely look into the benefits of buying a new vs. previously owned home.  You will also get to see firsthand what Bedico Creek, a Conservation Community in St. Tammany Parish, has to offer you.  When you buy a home at Bedico Creek Preserve, you also get to enjoy 500 acres free!  Come visit us today to find out about our home prices, deals, and the lifestyle opportunities that we offer.  Call 985-845-4200, E-mail Info@LiveBedico.com, or Sign In to send us your information.  We look forward to showing our subdivision to you!

 

Click Here for the Source of the Information.

Louisiana Department of Education Announces Statewide LEAP Scores

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The Louisiana Department of Education released results on Wednesday that about 81 percent of public school students in St. Tammany Parish accomplished test result scores equaling or greater than their grade level on St. Tammany Parish school’s standardized tests in 2013.  This announcement records a one point gain over scores from last year’s testing.  Statewide, for exams which cover the subjects of English / Language Arts, Math, Science, and Social Studies – LEAP & iLEAP exams, St. Tammany Parish public schools scored 8th highest overall in the state of Louisiana.  St. Tammany Parish’s school system is an extremely large system of schools with 38,000, so these scores are reflective of a major academic success all across the Northshore.

There are 5 categories of scoring for the tests – advance, mastery, basic, approaching basic, and unsatisfactory.  According to the graphic below, St. Tammany Parish has, for years, scored well above the state average when it comes to the scoring of “basic” on these tests.  In order to move onto the next grade level, students have to score at least basic.  Because of their phenomenal score results, the percentage of students who will have to attend summer school has been cut by 10% this year, which is exciting news for the St. Tammany Parish school system.

LEAP-Score-Comparison-2009-2013“As long as I see that trend line is continuing to move upward, we’re doing the right thing,” says Assistant Superintendent Cheryl Arabie.

Below is a list of scoring statewide, broken down by parishes.  Bedico Creek Preserve is not only located in St. Tammany Parish, but this subdivision is also located in the Madisonville, Louisiana, school district.  These Schools are exceptional in quality and have consistently performed among the highest rated schools in St. Tammany Parish.  If you have a family with children that are school age, you should definitely check out the Madisonville Schools for their reputation of being the “best of the best” in St. Tammany Parish.  For More Information about the school system near Bedico Creek Preserve, Contact Us at 985-845-4200 or E-mail Info@LiveBedico.com.

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Another Successful Chef Soiree in St. Tammany Parish

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Benefiting the YSB (Youth Service Bureau), Chef Soiree 2013 began in true Irish style (at least Irish enough for St. Tammany Parish) with a parade honoring St. Patrick’s Day, a nod to the day’s event date.  A haunting aria on bagpipes by the Kilts of Many Colours led the more than 3,000 attendees in a parade through the gates of the Bogue Falaya Park in Covington, Louisiana.  The Youth Service Bureau provides advocacy, counseling, education and intervention for at-risk youth and their families from St. Tammany and Washington Parishes.

Held, Sunday, March 17, 2013, from 5pm – 9pm, this annual event featured more than 85 food vendors and live music from Gypsy River, thechef-soiree Hurricane Levee Band, Kilts of Many Colours, Soul Revival, The Wagners, We3 and Amanda Shaw.  Guests munched on many traditional and unusual food offerings such as smoked salmon, Swamp Beans, Cajun Asian pulled pork crosti, roasted pork loin with apricot demi-glaze, seafood mirliton casserole, as well as chargrilled and raw oysters.

Chef Soiree held a raffle based on the theme of the day – a literal “Pot of Gold” – which entailed a cash prize of $10,000 for the lucky winner.  Raffle tickets numbering 3,000 were sold at $25 apiece, the proceeds of which would benefit the YSB along with the cost of the ticket sales.  Guests paid $125/ticket, and approximately 3,000 tickets were available for purchase for this event.  As in years past, Chef Soiree had no problem selling out their tickets.

Many sponsors were in attendance for the evening’s festivities, and you can see all of them by visiting this link.  The Grand Marshal for the event was Jim Henderson, and Honorary Chairpersons Parish President Pat Brister and Joe Brister also attended.  In addition to raising money and awareness for the YSB, the event also honored local company Hubig’s Pies, which had its company building burn to the ground earlier this year.  “Parade people will wear Hubig’s T-shirts or aprons,” said Chef Soiree Coordinator Debbie Bresler. Overall, based on the numbers in attendance and the attitude of the day – beautiful weather, great music, and fantastic food – Chef Soiree 2013 is claiming success for yet another year.

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Tammany Trace Tunnel Project at Louisiana 59 Moving Forward

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St. Tammany Parish and the state are moving forward with plans to build a $3 million tunnel that will take Tammany Trace users beneath busy Louisiana 59 between Mandeville and Abita Springs. The project also involves the slight straightening of a dangerous S-curve at the location to make the state highway safer for motorists.

59-tammany-traceSt. Tammany government will pay for the design of the project, with the state paying for actual construction, said Erin Stair, project administrator in Parish President Pat Brister’s office. Engineering firms that are interested in the job have until Feb. 22 to respond to the parish government’s request for qualifications, she said.

Bicyclists and runners on the trace often have a difficult time crossing Louisiana 59, about a mile north of Interstate 12, due to the high volume of traffic and because the S-curve  limits visibility. There is no stop sign or traffic signal for motorists on the highway. The tunnel will allow trace users to move beneath the highway at Emile Strain Road without so much as a slowdown.

“I do know that it’s been an issue for a while,” Stair said. “We’ve been asked repeatedly to look into that. We’re fortunate that the state will partner with us on it. It will be a great project.”

The state has budgeted $3.3 million as a preliminary estimate for construction, Stair said. The state is aiming to award a construction contract by mid-2015.

Stair said she did not have an estimate on the design costs or how long it would take to build the tunnel.

The tunnel will be the second on the Tammany Trace. A passageway beneath busy Florida Street in Mandeville has been in use since late 2002.

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Downtown Covington May Get Enhanced Holiday Display Next Year

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The orange traffic cones lining Boston Street notwithstanding, downtown Covington has a holiday look and feel to it. The main drag is draped with decorations hanging from light poles and shoppers are visiting quaint city shops in search of that perfect gift. But there might be one thing keeping Covington from becoming south Louisiana’s version of Bedford Falls, the fictional town in Frank Capra’s 1946 classic holiday film “It’s a Wonderful Life.”

City Council member Larry Rolling said he believes Covington needs a city Christmas tree at an auspicious downtown location, and he plans to start drive to establish such a tradition next year.

“We’re a very traditional city, but this is a little piece that is missing,” Rolling said.

downtown-covingtonRolling’s idea is to have local businesses and non-profits contribute to a fund to erect a tree in the downtown area. He said one possible location is the Covington Trailhead at the intersection of New Hampshire and East Lockwood streets. It features a campanile, bandstand and amphitheater and a visitor center. But Rolling said the trailhead is “a little off the beaten path.”

He said a better location may be the front courtyard of the former parish courthouse at the corner of Boston and New Hampshire street. The corner is adorned with giant oak trees that could be incorporated into the holiday display, he said.

Workers were building a new walkway at that busy corner Friday, and other sections of downtown are under construction as well. So city officials are targeting next year for the enhanced holiday display.

Downtown Covington is in the midst of a major facelift funded through a combination of state and local money. The $551,000 Boston Street beautification project involves the installation of dozens of flower planters that will contain small flowering plants, about 3,000 linear feet of new sidewalks and 71 handicap curb ramps. The state Department of Transportation and Development is picking up 95 percent of the cost of the project, with the city covering the rest.

Under a separate, $591,000 contract to be paid with money from DOTD, four traffic lights on East Boston will be replaced with ornamental posts and signals. And, a $1.325 million contract to mill and overlay about eight miles of streets in and around the downtown area is well underway. The city is funding 100 percent of that project.

Mayor Mike Cooper said recently the work is on or slightly ahead of schedule.

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