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Market Conditions in Saint Bernard County : Real Estate Advice

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Activity 5
Sun Feb 17, 2013
Scott O'Brien answered:
The market in Chalmette is improving. The amount of good listings is shrinking. I see an upward
tick the the price per sq. ft. that homes are selling and I expect that to continue. 113 pr ft, Is at the
extreme limit and 108 is above the top. If you hang in there for a while you may get to 110 pr ft.
I don't think it will be years it may be in the coming months. I just did a survey with 13 properties that have sold in the last 90 days. One was at 100 a ft 5 were 90-98 per ft. the other 5 were 93 to 98 a ft. and
7 were 81-88. If you want more info. you can reach me mikeobrien22@gmail.com or my cell 504-512-3602
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Thu Nov 10, 2011
Scott O'Brien answered:
Chalmette and Meraux are the areas that most buyers want to search for a home. They are the most populated
and were strong areas prior to Katrina.
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Mon Nov 8, 2010
Daniel answered:
insurance premiums are up because so many insurance companied had invested in and lost alot of money in stocks during the recent banking meltdown.
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Thu Jan 10, 2008
Robert Morgan answered:
If you are talking about completely renovated homes, you have several factors you have to look at.
1. Current Inventory - there are over 100 homes for sale completely renovated in Lexington Place, Story Park and surrounding neighborhoods. With only 50 plus homes sold "completely renovated" in all of 2007 your left with over a two year supply of inventory. That's the bad news.
2. Pricing - Now some good news. If you can price your home somewhere in the $90-95 per SF range and stay in the lowest 25-33 percent of all home prices in Lexington you will see some results within a 90 day timeframe. However, if you have a home that is alot larger than the average home in Lexington be prepared to sit for 120-180 days just because the buyer has over 100 homes to choose from.

I hope this doesn't discourage you. Bottom line pricing is critical!
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Fri Oct 19, 2007
ian cockburn answered:
Alot will depend on the location...be very careful if you are looking to buy out here...for the insurance quotes are high for any size property.
Based on the 100's of BPO's I did in Arabi for the Road Home folks, there is going to be alot of changes in the next year as people sell out to the Road Home, while others choose to rebuild.

Email me if you would like specifics on what actual properties sold where.
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