FLOOD HOUSES FOR SALE IN NEW ORLEANS METRO
 OR HOUSES NEEDING LOT'S OF WORK!

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Attention: Contractors, Investors, Renovators...

You have come to the right place if you are looking for flooded,  distressed, fixer-upper properties that need renovation to flip or to convert to your dream home. Many of these homes are Katrina flood houses for sale in Eastbank of Jefferson Parish including Kenner, Metairie, Harahan, River Ridge, and Old Jefferson (MLS Areas 1-27), and New Orleans Lakeview Subdivision (MLS area 61) These homes need anything from major TLC to Total Renovation or Tear Down 

This is an unique search request that you may not find anywhere else on the internet.... so you may want to click here to bookmark.  

For Appointment to view a property or more Information Call today...  
Donna Bergeron ... 504-908-5536. 
OR  Contact Me Here

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Katrina Real Estate Updates  New Orleans, Jefferson, Metairie, Kenner, Harahan, River Ridge, Saints and River Parishes

Earliest Observations (2-3 wks Post Katrina) KATRINA REAL ESTATE UPDATE#1.....Lots of phone calls on desk and real estate activity these days...but not a significant increase in actual sales. One of the main reasons for this is that most closing companies are still reeling and are not able to close sales. Homeowners insurance is difficult to get in some cases. Also, many pending sales that are based on "inflated values" may not fly when they don't appraise. This makes you wonder if the appraisers are "using current values" or actually limiting values by using pre-Katrina values which are now obsolete because of the changing supply and demand of homes in our area. At this early stage it seems that there is an increased demand by investors and contractors who are buying flooded homes to flip or to keep as rental property investments. There is also an increase in demand for homes that did not flood that are now needed to accommodate flood survivors. Many sellers are increasing the listing price of pre-Katrina homes upward by 5 to 30%. Some select areas may indeed justify the price increases, however time will tell if the more drastic price increases will hold up, or will the homes deflate in value after the gold rush is over? Most homeowners that were victim to the flood are still undecided about what to do with their Katrina damaged home. Many ask if they should take the insurance settlement check and sell "as is", or use the money to fix up their home and then either stay or sell. Many homeowners that got caught up in the excitement of Katrina are making life changing decisions about relocating. Since Katrina, how many times have you heard the phrase, "I just want to sell and move"! I think that many homeowners need to take a deep breath and put more thought into their new situation and examine their real estate options more carefully.   If you need assistance in determining the value of your home now in it's damaged condition vs what it might be worth after renovations, please contact me. I am glad to provide you with a free Market Analysis of both scenarios. With this information, you will be more in position to reach a knowlegeable decision.  Donna

 

Katrina Real Estate Update #2 It will be interesting to see how Katrina affects the real estate market for the average homeowner, both in the short term and long term. We have homeowners leaving the area and potential buyers coming in. Supply and demand of homes, and up and down prices for non-damaged and damaged houses will be all over the graph. Some sellers have raised "asking prices" on the non-damaged houses by as much as 30 percent. But only those homes that are priced at a reasonable premium price are getting much attention. Most buyers are not interested in making offers on the more drastically "inflated" valued homes. At the same time, "bargain hunters" are looking for bargain prices on damaged homes. I believe that there should be more and more damaged homes available at bargain prices once homeowners begin to receive their insurance settlement check in the mail. Many will put their property on the market without doing any repairs.  Katrina has thrown us more curves than we usually have to deal with. Whether you are buying or selling, you should get knowledgeable advice from a Realtor before attempting to buy or sell a home. Being a buyer or seller in this market as it goes through it's wild zephyr-like ride throughout the New Orleans Metro, will be something that will take the breath away from the faint of heart. The more you study the market on a daily basis, or take the advice of those that do, the better chance you will have of making wise buying and selling decisions.  No doubt there will be many different ideas and agendas for rebuilding New Orleans Metro. We already see one of the first controversies with the expanded casino layout proposed by Mayor Nagin. Hopefully the rebuilding effort will not turn in to a food fight between fed, state, city, and citizens. Poor planning, poor execution, and poor communications were the ingredients that landed us into this New Orleans gumbo  fiasco in the first place! Let’s hope we all learn from the mistakes made, and rebuild our city better than before. If you need to know the value of your home for resale, or need assistance in finding another home, please contact me. I am here to help. Donna

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