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French Quarter : Real Estate Advice

  • All32
  • Local Info4
  • Home Buying13
  • Home Selling1
  • Market Conditions5

Activity 25
Fri Jun 23, 2017
Steffijohnson asked:
Wed Oct 21, 2015
Cajunsoul answered:
Hello,

I have rental apts. in the French Quarter in the residential section of Bourbon St. i have 1 apt. with 2 queen bed and another with 1 queen bed. Both have pull-out sofa beds in the LR. They are completely furnished & decorated. For parking I will lend you a parking permit that allows you to park on the street in front of the rentals. Will give you 60-days rental for a all inclusive rent of $1500. Please contact me at cajunsoul@aol.com or phone me at 504-373-8434.

Regards,

William
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Wed Jul 16, 2014
Michael Freeland answered:
Sweet condo on bourbon just off esplanade .
Check out metro-new-orleans
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Thu Oct 3, 2013
Marseah Delatte answered:
We have a face book, page and we will keep it updated with rental information as well as other options.
www.facebook.com/EliteConstructionServicesandManagementGroup
0 votes 3 answers Share Flag
Fri Jun 7, 2013
ian cockburn answered:
Sometimes there are. When is your timeframe to buy?
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0 votes 5 answers Share Flag
Wed May 22, 2013
ian cockburn answered:
The area is a great place to be. Historic Esplanade offers a very walkable neighborhood. If a condo has been on the market in this area for this long it is probably priced too high. Your best bet is to get a list of properties that sold in the past six months to get a good idea of the real values of the properties you are interested in. ... more
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Thu Apr 18, 2013
Patrick Knudsen answered:
I sold 1140 Royal Street to my client, a business man from Texas who would like to remain anonymous. This is a private residence and cannot be viewed by the public. If you have any other questions pertaining to this or any other French Quarter property, please feel free to contact me at Patrick.Knudsen@SothebysRealty.com or 504-858-0623. Thank you.

Patrick Knudsen -Realtor-
Dorian Bennett Sotheby's International Realty
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Wed Apr 3, 2013
ian cockburn answered:
If you have 6 months and alot of time you might get a dollar...maybe.

Focus on the biggest incentive of all...the current interest rates.

One needs to consider:
1) Will this be your primary residence?
2) Are you buying a single family home or a multifamily?
3) How much money are you putting down?
4) How much do you plan on borrowing?

Saying "investment property" suggests it is not your primary residence...this translates to paying 20 - 30% down on any investment property not owner occupied.

Call or email us at ian@iansellsnola.com and come join us!
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Mon Mar 11, 2013
Olivia answered:
the city voucher program has a website and phone number that you can use to look up all available properties :) i'll have a home on there shortly, myself. Take care, have a great move!
0 votes 3 answers Share Flag
Sun Feb 24, 2013
Eileen Murray answered:
I have some space in the French Quarter . What is your budget ? Eileen Murray Remax N.O.Properties 891-1071
0 votes 1 answer Share Flag
Sun Jan 13, 2013
ian cockburn answered:
If you live out of town, the last thing you want is managing people in and out...it is not worth the possible drama or additional cleaning and troubles associated with short timers. This is not a forum to discuss law..unless lawyers start answering questions and disclose as such.

The secret to condo ownership in the French Quarter is to invest in slow, steady equity. This means buying at the right price...you are making your money when you buy, not when you sell...or try to rent short term..alot of risk for out of towners.

If you are trying to use a FQ condo as an investment property you will never make money...the numbers never have and never will work like what you can do with a 4 plex or even a double / duplex Uptown or in Midcity.

Need to know more about these areas? Visit my website at the link below and see real video of other New Orleans neighbourhoods
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0 votes 5 answers Share Flag
Tue Jan 1, 2013
ian cockburn answered:
The Quarter is part of a "security district" This means its residents pay a little extra to get additional police protection than other parts of the city. There are similar districts throughout the city in parts of Uptown and Midcity for example.

Unless you plan on walking around at 4:00 am drifting through the streets having had a little too much to drink you generally will not have a problem.

With the new street car coming down the edge of the Quarter there are some excellent investment opportunities with some of the current listings.

Email us at: ian70119@yahoo.com with your wishlist
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Thu Apr 21, 2011
Hassan Dabon answered:
No. Because I priced it right to begin with. Why am I taking this listing? To provide my client with a service, not lip service. So many will list a property at whatever the owner dreams up in their mind. I feel a Realtor's job is to educate the owner on the truth of the market. The market sets the price. Now you can list it at market, above market, or below market. If I do my job correctly, the price we agree upon is good and the property will move. The problem is lack of market knowledge. ... more
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Sat Jun 26, 2010
Homespecnola answered:
When you purchase your property please give us a call. We would love to take care of the inspections for you.
George Swain
HOme Spec, Inc
Serving New Orleans since 1987
0 votes 3 answers Share Flag
Thu Jan 21, 2010
ian cockburn answered:
There is alot of interest lately in New Orleans East recently renovated homes. Email me and I can get you actual trend data to help you establish a reasonable price for your home.

Visit the link below for more info to help you. ... more
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Tue Dec 29, 2009
Abraham Walker answered:
Simple answer to your question is "NO". Let's talk about flood insurance 1st. Your main issue dealing with flood insurance is the price. If you are purchasing a flood and gutted property it is most likely below the base flood elevation (BFE) level Flood insurance is very costly for these properties because of the increase risk. To get a good idea of how much risk you are taking on try to find new construction in the same block or as close to the subject property. Eyeball (or guess) where your lowest floor level (include all rooms you plan to in close with insulation and sheetrock) and that is the amount you can expect to pay above the BFE. If you raise your property to BFE level you will be looking at paying between 400 - 500/year for flood insurance. If you are below, WATCH OUT. I sold a property on Vicksburg near the interstate and the Flood Insurance was 2700/year (crazy).

Home Insurance: You won't be able to get a true Home Owners Policy because you are not living in the house. The name of the policy you are shopping for is a "builder’s risk" policy. This policy will vary in price depending on the insurance carriers, agent, and scope of your project.

SIDE NOTE: Buyer Beware: All insurance agents are not looking out for your best interest. They should really be called insurance sales representatives because they work for their company’s best interest. As a real estate “agent” I have a fiduciary duty to hold my client’s interest above my own. I have never seen any fiduciary talk coming from an insurance agent. Shop around and get as many quotes as you can. You are going to find out that for every 5 insurance agent you call 2 will return your call and you might get one to give you a quote.

Since you looking into flood and gutted property make sure you check city of New Orleans Damage Assessment website to make sure you will be able to get permits on the property. This is the very 1st step I tell my client who are looking into purchasing this type of property. The direct link to the website is http://www.cityofno.com/portal.aspx?portal=1&load=~/CNO/Services/SafetyAndPermits/Permits/DamageReportWizard.ascx. (copy and paste this URL directly in your web browser if it doesn't show up as I link) If it's above 50% damage you are required to raise the house to receive a permit (which is more important than insurance because you wouldn't be able to make improvements on the property) or tear it down. Side note: A high damage assessment is a great tool to get a price reduction during your negotiation.
Shoot me an email if you need any more information on this topic awalker@latterblum.com
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