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.
Come see live music in Mandeville.
Festival of the Lake
Our Lady of the Lake Roman Catholic Church
312 Lafitte St.
Mandeville, LA 70448
November 1 – 3, 2024
Free Admission; Tickets for Games & Food/Beverages
Click Here for More Information
A much needed store added to this area in Covington.
Costco Grand Opening
Covington, LA
August 16, 2024
Free event
Click Here for More Information.
This will be the twelfth year for this event in New Orleans.
Gleason Gras
Generations Hall
310 Andrews Higgins Blvd
New Orleans, LA
October 4, 2024
8pm – 11pm
Tickets $75.00 – $50,000+
Click Here for More Information.
Spend the day with the New Orleans Home Builders Association for Fishing & Fun!
Reel Fishing Tournament
Island Marina at Lake Catherine
26204 Chef Menteur Hwy
New Orleans, LA 70129
October 26, 2024
6am – 5pm
$5,000 Total Prizes: $1,000 Largest Redfish (NO BULLREDS) $1,000 Largest Trout $3,000 Largest Stringer (3 trout, 2 redfish)
Tickets $75
Click Here for More Information.
Buying your first home is an exciting milestone that can significantly enhance your life. As a first-time homebuyer, you can make this dream come true, but today’s housing market presents some challenges, particularly the limited supply of homes for sale and ongoing affordability issues. If you’re ready to take this important step, here are three tips to help you navigate the process and achieve your goal. 
The initial costs of homeownership, such as down payments and closing costs, can be daunting. Fortunately, numerous assistance programs for first-time homebuyers can help you secure a loan with little or no upfront money. According to Bankrate:
“. . . you might qualify for a first-time homebuyer loan or assistance. First-time buyer loans typically have more flexible requirements, such as a lower down payment and credit score. Many help buyers with closing costs and the down payment through grants and low-interest loans.”
To explore these options, reach out to your state’s housing authority or visit websites like Down Payment Resource.
With the current shortage of homes for sale, prices are rising, making affordability a challenge. One way to find a home within your budget is to consider condos and townhomes. Realtor.com suggests:
“For many newbies, it might just be a matter of making a shift toward something they can better afford—like a condo or townhome. These lower-cost homes have historically been a stepping stone for buyers looking for a less expensive alternative to a single-family home.”
Condos and townhomes are often more affordable because they are smaller, but they still allow you to achieve homeownership and build equity. This equity can be a valuable asset, helping you move into a larger home in the future if needed. Hannah Jones, Senior Economic Analyst at Realtor.com, explains:
“Condos can help prospective homebuyers who perhaps have a smaller budget, but who are really determined to get a foothold in the market and start to accumulate some equity. It can be a really great entry point.”
Another strategy for entering the housing market is to buy a home with friends or family members. Sharing the costs of the mortgage and other expenses can make homeownership more affordable. Money.com highlights the benefits:
“Buying a home with another person has some obvious advantages in the mortgage department. With two incomes in the mix, buyers can likely qualify for a larger mortgage — a big help in today’s high-cost market.”
By taking advantage of first-time homebuyer assistance programs, considering condos and townhomes, and exploring multi-generational living, you can overcome the challenges of today’s housing market and purchase your first home. When you’re ready to start the journey, connect with a local real estate agent for expert guidance.
There was considerable talk about a potential recession that could crash the housing market. Some media outlets even predicted home prices would drop by as much as 10-20%, which might have made you hesitant about buying a home.
However, what actually happened was that home prices increased more than usual. Brian D. Luke, Head of Commodities at S&P Dow Jones Indices, explains:
“Looking back at the year, 2023 appears to have exceeded average annual home price gains over the past 35 years.”
To put last year’s growth into context, data from Freddie Mac shows how home prices have changed each year since 1980. The dotted line on the graph represents the long-term average for appreciation:
The key takeaway is that home prices almost always rise. As Forbes notes:
“. . . the U.S. real estate market has a long and reliable history of increasing in value over time.”
Since 1980, the only time home prices declined was during the housing market crash, indicated in red on the graph. Fortunately, the current market is not like it was in 2008. For one, there are not enough homes available to meet buyer demand. Additionally, homeowners now have significant equity, putting them in a much stronger position than they were back then. This means there won’t be a surge of foreclosures that drives prices down.
The fact that home values increased every year except for those four years in red is why owning a home can be one of the smartest decisions you can make. As a homeowner, you possess an asset that typically gains value over time. As your home’s value appreciates, your net worth grows.
If you’re financially stable and ready for the costs and responsibilities of homeownership, buying a home might be a wise decision for you.
The bottom line is that home prices tend to increase over time, making buying a home a smart move if you’re prepared. Connect with a local real estate agent to discuss your goals and explore available options in your area.
