Occasionally, because Bedico Creek Preserve is such a popular neighborhood on the northshore of Lake Pontchartrain in New Orleans, Louisiana, we will have newspaper, magazine, and online articles and blogs written about our master-planned community. We feature these articles in our Press Room area. Also, we sometimes create press releases for special news and events that are happening at Bedico Creek Preserve. You can find all of this information, plus make media inquiries all right here in our Press Room.

Rearview of this exterior home found close to New Orleans. The house sits on a lot that looks over the private pond.

Housing Economy Strengthens From Rising Sales and Permits

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The NAHB’s forecast predicted the housing industry to lead in the economy’s upturn after the pandemic. This has wrung true as data from home building has shown a rise.

According to the National Association of Home Builders, single-family permits rose 12% in May. The U.S. Housing and Urban Development and Commerce Department reported that the total housing starts rose 4.3% to a seasonally adjusted annual rate of 974,000 units. This accounts for “the number of housing units builders would begin if they kept this pace for the next 12 months.”

“The May housing report is consistent with the positive results of the NAHB/Wells Fargo builder sentiment index, and we expect this momentum to continue as economic activity recovers,” said NAHB Chief Economist Robert Dietz. “In another promising sign, single-family permits are up almost 2 percent on a year-to-date basis and builders are bringing back thousands of workers laid off in March and April to meet renewed demand.”

Home sales are also on the rise, in fact, new single-family home contracts rose 13% year-over-year gain in May. The data also indicates “support growth for new home building” as inventory dropped to a sales-adjusted level of a 5.6 month supply (levels below a 6-month supply equals growth for new home building).

A rise in permits and sales along with an increase in builder confidence are good signs for a strengthening in this weathered economy.

Click Here For the Source of the Information.

Eighth Straight Week of a Rise in Home Purchasing

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The housing market is up and running even through the pandemic. According to the Mortgage Bankers Association’s (MBA) Weekly Application Survey, there was an increase by 9.3% in the Market Composite Index for the week ending on June 5 from the week before on a seasonally adjusted basis. This was the highest level of purchasing activity since January.

The Mortgage Bankers Association’s (MBA) Weekly Applications Survey has been the leading indicator of the housing and mortgage finance activity since 1990. The survey’s purpose is to obtain and provide related information to mortgage originators, servicers, investors, other participants in the housing market and economists and others interested in the current pace of economic activity.

The Market Composite Index is a measure of the volume of mortgage loan applications. The index covers all mortgage applications that have occurred during the week. The data includes conventional and government applications, all fixed-rate mortgages (FRMs) and all adjustable-rate mortgages (ARMs), whether for a purchase or to refinance.

The Mortgage Bankers Association’s 30-year fixed-rate mortgage rate went up one basis point from last week’s record low. Last week reported a historic low of 3.3% which was 8 basis points from the previous week. This has not slowed purchase applications which are still increasing after nine consecutive weeks. In fact, this marks the highest level of purchase applications in over eleven years.

Refinancing has been slower but has taken a sharp turn this week. The report detailed an 11.4% increase from last week’s activity.  According to eyeonhousing.org, “With the Federal Reserve’s recent announcement of an accommodative monetary stance in order to aid recovery efforts, a low-interest-rate environment is bound to continue for the short-term, effectively benefiting housing demand.”

People are seeing the benefit in homeownership as home purchasing continues to rise for the eighth straight week increasing 5.3% from the week before.

Click Here For the Source of the Information.

Strong Home Sales In May Lead To Strongest In Over A Decade

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Nice outdoor area overlooking the pond. The backyard is a nice space for entertaining. The porch overlooks the nice view.Worries are warranted with the dramatic slowdown in March because of the pandemic. The U.S. economy was basically shut down late winter and all spring of this year. Builders, realtors, lenders and homeowners alike were surprised that newly built homes jumped to almost 13% annually according to the U.S. Census. This is the strongest May pace since 2007 before the economy crashed in 2008.

“As housing demand has picked up in recent weeks, builders have shifted sales to homes not yet under construction – a 20% year-over-year gain for such sales,” said Robert Dietz, chief economist at the National Association of Home Builders.

In May homebuilders added 226,000 workers alone to meet the demand for new housing. The housing industry is making a quick recovery after the stay-at-home orders were lifted from Covid-19. Covid-19 has opened many potential homebuyers’ eyes to purchasing a new home that is not yet lived in and purchasing in the suburbs away from the inner city turmoil the pandemic caused and could potentially cause again in the future.

“The rapid improvement in sales of new homes may also reflect a change in consumer preferences, with buyers showing a newfound penchant for cleaner, never-lived-in homes — although the long-term durability of that trend remains to be seen,” said Matthew Speakman, an economist at Zillow.

CEO of Lennar, Stuart Miller believes that the shelter-supply-constrain that Covid-19 has produced will inturn allow all forms of shelter to thrive in the housing market and will be sustainable for the next couple of years to come.

Click Here For the Source of the Information.

This secondary bedroom is all white. The hardwood floors are rich in color. It is open and bright with custom lighting.

Two New Riverfront Restaurants For the North Shore

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Guest bathroom with a shower tub combo. The bathroom has a large vanity and nice custom tile floors.Although the two restaurants are new to the area, the building and location are not. These two different style restaurants are located in a well-known riverfront spot in Madisonville that used to house the casual restaurant Friends.

Well known in the area, Friends was a causal restaurant that sat along the Tchefuncte River. In 2012 it was severely damaged by storm surge from Hurrican Isaac and a year after it was completely destroyed by a fire. The building was rebuilt in 2015 but by 2017 it was closed down and taken over by creditors. In 2018, Greg Lala and Stephen Guidry, owners of Dixie RV SuperStores, purchased the property and got approval for the two new restaurants, Tchefunte’s and The Anchor.

Both restaurants plan to open summer 2020, Tchefuncte’s July 18th and The Anchor June 26th. Techefuncte’s, located on the top level, is an upscale restaurant with a bar and several private dining rooms. The Anchor, located downstairs is an open-air dockside restaurant and bar.

The three-story building has been redesigned for the two different style restaurants. Tchefuncte’s will have its own separate entrance that will lead upstairs to the restaurant. The upscale dining is an approach to “regional American with a blend of global influences and Louisiana flavor.” The Anchor is a family-friendly riverfront tavern serving sandwiches and barbecue-style dishes.

“The goal is to be approachable to everyone, whether they’re hanging with the kids downstairs, coming up for a weeknight meal at the bar or coming back on Friday for date night to really do it up,” said Michael Gottlieb, executive chef and operations director for the two restaurants.

The top floor where Tchefuncte’s is located was rebuilt with smaller rooms for a more intimate feel. The main dining room has a bistro feel with 55 seats. There are counter-top seats that look directly into the kitchen. The private dining rooms look out over the river and a few of them open up to elevated decks. The food will have a lot of local influence that can be found in dishes such as Louisiana sweet potato ravioli gratin; crispy oysters with red rice and andouille sabayon; herb- and Dijon-crusted chicken with shaved country ham and raclette cheese; and roasted scallops with black garlic; alongside an array of steaks and a changing roasted meat special, from lamb to porchetta.

The downstairs will be The Anchor which consists of a playground for kids, a bar for adults, seating around counters, a cluster of deck chairs with a deck that leads to a dock for boaters to pull up and partake. Patrons can enjoy dishes such as shrimp po-boys with brown butter, deviled crab with jambalaya, broiled or fried seafood platters and smoked beef short ribs.

The property has had many issues in the past and has been a thorn to many residents’ side. For this reason, The Anchor will close around sunset and 88 new parking spots have been added to be part of a “good neighbor” effort.

“We want the people around us to appreciate us as much as we approach being here,” Gottlieb said.

Click Here For the Source of the Information.

Annual Christmas in July, July 26, 2020

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Come see great Christmas ideas in Covington.


Christmas  Expo

Coquille Sports Complex – Gym 1
13505 Hwy. 1085
Covington, LA 70433

July 26, 2020

10am – 5pm

 

Price: Free

Click Here for More Information.

 

Slidell Reptile Show, Postponed

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This the largest reptile and exotic pet show in Louisiana.
Slidell Reptile Show


Northsore Harbor Center
100 Harbor Center Blvd
Slidell, LA 70460

Postponed

Price: 1-Day Pass: Adult $10, Kids 5-12 $5; 2-Days: $Adult $15, Kids 5-12 $8. Kids 4 and under FREE!

Click Here for More Information!