This New, Garden Home Floorplan is a beautiful upgraded courtyard style garden home with 1,895 square feet of living area, three bedrooms – plus a computer room and two baths. High ceilings throughout with abundant crown molding, all hard surface wood floors and 8’ tall doors. Sloped kitchen ceiling with exposed wood beams. Private brick wall enclosed French Quarter-style courtyard with brick entrance sidewalk, and both an uncovered and brick-floored, covered patio. Huge, open, walk-in tile shower in the master bath.
Priced in the Low $300’s.
Other Two Bedroom and Three Bedroom Floorplan Designs Are Available to Build Your Custom Home on One of the Few Remaining Garden Home Lots Priced From the $270’s Up to the Mid-$400’s.
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New Urbanism is alive and well in the Greater New Orleans area with Mixed-Use Developments being built where previously housing projects had stood. Many developers are tapping into the multi-family construction industry, building apartment housing in popular neighborhoods. Single-family home construction is taking a backseat to these types of developments as well as multi-family condo and townhome construction also in the city of New Orleans. Because of this, people relocating to the New Orleans area as well as young people graduating from college and moving out are finding it harder and harder to find the traditional “first time home buyer home.”
Surprisingly, Millenials, according to the National Association of Home Builders, tend to want to live in single-family homes in the suburbs. According to the NAHB’s survey, 75% want traditional new homes, and 66% prefer to live in the suburbs with only 10% choosing urban living, such as living in downtown New Orleans or the outlying areas. While nationally this is a trend, the migration of Millenials may very well benefit the Northshore of the lake because in St. Tammany Parish, there are plenty of new homes for sale as well as lots for sale.
Since the Recession, home pricing has been somewhat unreliable, but now housing prices seem to have stabilized, so it is less difficult to acquire housing finance for new home buyers looking to buy their first, second, or even third home. Another factor that may drive new home buyers to the north shore is the fact that inventory in popular, safe neighborhoods in New Orleans such as the Garden District, Bywater, Uptown, etc., is very scarce, prompting bidding wars among home buyers. Young home buyers may get priced out of the market with competitive pricing being higher than normal.
Regardless of where the Millenials in the Greater New Orleans area choose to buy their new, single-family home, Bedico Creek Preserve is “ready” for any type of home buyer with 10 Neighborhoods from which to choose new homes for sale and lots for sale. Lot pricing at Bedico Creek starts in the $40’s, and new home prices start in the $240’s. If you are ready to view a lot for sale or new home for sale, Contact Bedico Creek at 985-845-4200 or E-mail Info@LiveBedico.com.
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Home Depot is the world’s largest home improvement retailer, and what better resource to tap into to see a glimpse of how the housing market is bouncing back after the recession? The retailer reported a record number of transactions over the last three months. In fact, consumers have spent more than ever since 2006. In stores that have been open for a year or more sales of increased 6%.
“We continue to see positive signs in the housing market,” said Carol Tome, Home Depot’s chief financial officer. Americans are increasing their spending when it comes to putting their personal touches on their newly-purchased homes, on a remodel or updates to sell a house.
There are two factors that Home Depot recognizes, housing turnover and household formation, that are higher than expected by the retailer. “When consumers believe their home is an investment, not an expense, they spend differently. We are seeing that,” Tome said.
Home prices are increasing, and that is an impetus for buyers to make a real estate investment. With a hot housing market, consumers are also increasing their spending on things they need for their homes such as appliances, tools, plumbing, decor, lighting, kitchen and bath hardware and flooring. Home Depot reported transactions that were $900 or more increased 6% last quarter.
New homes are being built which is good for both home buyers and home builders. In July of this year construction on new single-family houses increased 13% from the last month, making it the biggest percentage increase since December 2007. The National Association of Home Builders (NAHB) measure of builder confidence also rose to its highest level in August of this year.
Young consumers are also starting to get in on the action. During the Great Recession many experienced losing their homes or knew of someone who lost their home. “They really got chastened on how much debt they should have. But some of that caution is beginning to diminish a little bit,” Bob Baur, chief global economist at Principal Global Investors said.
A big factor is the stronger job market which has ushered household formation. Young people are secure now and want to move into their own house. This has led to them making big purchases on appliances, furniture and other household items. Good news for our country’s housing market. While it is not completely back to pre-crisis levels, it is definitely looking a lot stronger.
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A shortage in homes and a strong job market in the Greater New Orleans area definitely strengthened the housing market, especially in new home construction and the advent of new subdivisions. Solid hiring in the job market, low mortgage rates and easier credit conditions have driven the demand for new home buyers to purchase a new home for sale. The Greater New Orleans area alone represents 20% of the new jobs that have been created this year in the state of Louisiana which has led to the strong home sales on both the north shore and the south shore.
West St. Tammany Parish has seen a decrease in housing inventory making the average sales price increase. The housing market in general is leaning more towards a seller’s market because of the lack of supply of homes for sale. This lack of inventory in homes priced from $190,000 – $300,000 is causing a bidding war pulling the average sales price for metro New Orleans up by 7.8% from $197,300 to $212,610. New Orleans has seen an increase from 21,954 homes sold annually in 2010 to 30,322 in 2014. Homeowners are starting to realize that this is the time to sell, and for home builders now is the time to build new homes for sale in St. Tammany Parish on the northshore.
On the flip side, home buyers will not have long to wait because more homes are being built which means the inventory problem will start to correct itself. According to Richard Haase, president of NAI/Latter & Blum, who reported at the UNO/Latter & Blum Economic Outlook & Real Estate Forecast Seminar for the Northshore Region, which was held at the Clarion Inn & Suites Conference Center in Covington, ”There’s a lot of pent-up demand,” he said, because tight lending standards have kept potential buyers out of the homebuying market, even as the economy recovered. ”For the next one or two years, I’m extremely optimistic about housing prices and housing affordability,” Haase said. ”We’re in a very healthy supply-and-demand market.”
Bedico Creek Preserve in Madisonville, Louisiana, offers new homes for sale that could plug the dearth of homes priced from $190,000 – $300,000. Two neighborhoods being built in this master planned community in St. Tammany Parish offer new homes for sale from the $230’s – $300’s. These two neighborhoods are called Cypress Crossing and Deer Park. Also, if you purchase one of our lots for sale in the Garden / Courtyard section of this St. Tammany Parish subdivision, you can build a home starting from the $290’s. For more information about our homes for sale, Contact Bedico Creek at 985-845-4200 or E-mail Info@LiveBedico.com.
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Americans are increasing their spending when it comes to putting their personal touches on their newly-purchased homes, on a remodel or updates to sell a house.
December 2007. The National Association of Home Builders (NAHB) measure of builder confidence also rose to its highest level in August of this year.
