Disaster-Prone Areas Continue To Rise
The US property market is full of surprises. Common sense dictates that people should avoid disaster-prone regions. Hurricane Harvey, Hurricane Irma, and the California wildfires are some of the disasters we have witnessed recently.
The death and destruction are still vivid in our memories, but the property market seems to ignore all that. It begs the question, what exactly do Americans see in these low-lying counties?
Out of over 70 million homes, 48 percent are located in high to very high-risk areas. According to recent studies, the hottest property market segment lies in these disaster-prone regions.
For first time buyers it depends on the ability to read the situation correctly. While holistic and industry-wide researches give clues to the overall picture, sometimes they miss important cues.
The research showed that investors who bought in the high-risk market stood to rake in 55 percent gains on properties purchased in 2012. That is a healthy return on investment in just five years. It trumps any other asset class in America.
During the same time, the country has witnessed a cycle of billion-dollar disasters ranging between 8 to 15 billion dollars per year, consistently, over our study of the past 7 years. What exactly is making the West Coast and the Gulf Coast a popular destination for Americans and foreign investors? Is the trend misleading?
They Are The Economic Hubs
Best Mortgage Loans For First Time Buyers
Financing is always a big question mark when buying a home, especially for first time buyers who may not realize that all loans are not created equal; and all lenders do not offer every type of loan that is available.
Getting Started With A Mortgage
Getting the right loan could make a lot of difference in a lot of ways including the down, the number of years on the loan, closing costs and mortgage insurance.
Getting approved for the right type of loan could save a first time home buyer thousands of dollars and free up money that can then be invested in home improvements or new furniture.
Types of Mortgages
Rural Development Loans (RD)
RD loans are mortgages backed by the U.S. Department of Agriculture (USDA) and is part of the USDA Rural Development Guaranteed Housing...
Buying A Vacation Home In Southeast Louisiana
Are you thinking of purchasing real estate close to the beauty of Lake Pontchartrain? Considering buying a home in Covington or Mandeville? Does your family have dreams of a getaway in an area that they love?
There are several steps that a homeowner can take to ensure that the process of buying a vacation home is free of stress and goes smoothly.
1. Decide on the type of home to match your lifestyle
You do not necessarily have to own a primary residence before choosing a vacation home. Maybe it's wanting to buy a vacation condo and renting in the city, or living is chosen, tax and finance options are similar.
2. Decide how it will be used
The property can be for:
- Primary residence
- Second home
For tax and financing reasons, consider how the home will be owned and used. If it is your primary residence, for example, you might be able to purchase it with as little as a 3 percent down payment; this is if your loan does not exceed a certain amount.
A second home can be used at any time; however, lenders do not want to see it rented out. Buy it for 20 percent down; present homeowners can qualify by using the cost of a primary home as well...
Southeast Louisiana's Top 10 Things To Do
If you are in the market to buy a home or are going to sell a home and remain in the area, you will want to know some of the exciting and fun things that are happening close to Mandeville and Covington as well as other places nearby. Buying Mandeville real estate or Covington real estate gives you much to do in the way of excitement, relaxation and fun.
1. Movie Tavern Northshore
Eat with the kids at this family-friendly theater with comfortable seats (reserve in advance) and tasty food. Your kids and grandchildren will love this place, with 3D movies and more.
2. Art Galleries
The St. Tammany Art Association is the place to view and buy artwork as well as support the arts. It features fine art and hosts a monthly art walk. Local talent is showcased, and one can become a member or offer support to the organization.
3. Mandeville Trailhead Cultural Interpretive Center
Ride your bike or walk the trails at the trailhead to Tammany Trace that offers a peaceful break; it connects Mandeville and the north shore of Lake Pontchartrain. The lakefront is just a few blocks away, so families can enjoy...
Buyers Advice For First Timers
Buying your first home is an exciting time in your life, but the process can also be daunting. First-time buyers are likely to run into a lot of terms they've never heard before in every step of the process, like escrow and closing costs and earnest money deposit.
It's a good idea to arm yourself with a bit of knowledge before you buy a home, especially if it's your first time.
Here's what first-time home buyers should know about the home-buying process, along with questions you can ask your real estate agent to help you become more comfortable with the buying process.
Pre-approval will make everything easier
Even if you don't yet own a home, you probably know that a mortgage is a specialized type of loan just for buying houses. Mortgages are available through banks, credit unions, and other lending institutions, and there are even companies called...
10 Fascinating Facts About Covington Louisiana
Have you ever given thought to buying a home in the Covington area? Investing in real estate in this location appeals to many people today.
Permanent residents and visitors alike appreciate learning more about this unique locale.
Some Fun Facts About Covington
Situated just a short drive north of Mandeville Louisiana and the scenic Lake Pontchartrain (in the heart of southeastern Louisiana), this rapidly growing town of well over 10,000 people has witnessed significant changes during recent years. The area enjoys a vibrant culture. Consider fun facts about this community:
1. Today Covington's population approaches 10,500 people.
The popular online encyclopedia Wikipedia cities census information from 2010 placing the town's population at 8,765 people, with significant increases projected for 2018. The community gradually grew in size over the past century.
2. Visit a statue honoring President Ronald Reagan.
A bronze statue erected here by the Taylor Foundation in 2008 displays the work of a local sculptor, Patrick Miller. It honors President Ronald Reagan.
3. Actress Peggy Dow lived here for many years.
Before she gained fame as a model, radio personality, and actress, Peggy Dow spent part of her childhood ...
What To Expect In A Mandeville Lifestyle
Founded in 1834 and incorporated as a city in 1840, Mandeville is recognized as the oldest inhabited locale in St. Tammany Parish. Listed in 2004, 2005, 2007, 2008, and 2009 as one of the Relocate America's Top 100 Places to Live, this small town has plenty to offer anyone planning to buy a home here.
Checking with a local Realtor is the best source of finding exactly the right home. The same is true if you wish to sell a home.
Nestled along the north shore of Lake Pontchartrain, Mandeville was looked upon as a playground for the well-to-do of New Orleans. A steamer made the daily run between here and New Orleans, ferrying those wishing to get away from the heat, dust, and noise of the big city to an area of peace and tranquility.
Many chose to build vacation homes here, spending weekends, holidays, and summers near the cool waters of the lake. The middle-class soon followed their wealthier neighbors and the town began to grow and thrive. Long known for its jazz, New Orleanians brought the music with them when they crossed the lake; several pavilions and dance halls were built to accommodate the bands and jazz artists who came to play.
Two of those early jazz halls still stand...
Forecasting 2019 Real Estate disruptors
In a technologically expanding world with artificial intelligence, electric cars, Uber, Netflix, personal space flights, bitcoin, and more, the Real Estate industry just seems to keep grinding on resisting change at every turn.
But the Real Estate industry cannot hold out forever, so what are the major disruptors that will ruffle feathers this year?
Youth And Technology
The first is obvious but bears pointing out and that is youth. The world is getting more and more tech savvy while the average age of a Realtor is about 60 years old. However, there are more and more younger agents that are starting to act as internal disruptors to Realtors.
Just as the industry has been resistant to change so has its Realtors. The 60 plus Realtor crowd with very limited social media and internet knowledge is rapidly getting crowded out by the younger generation that can do much more productive marketing for less money. This is why many of these younger tech savvy Realtors are joining lower cost discount brokerages because they can do so much more with less.
The second biggest disruptor is margin compression. For years on end the real estate industry has operated in a very hush-hush monopoly of price fixing. Sure no one really collaborates...
Covington, Louisiana And What It Offers
Settled in the early 1800s, the picturesque town of Covington, Louisiana is a place that people proudly call home. Covington's main attraction is its vibrant town center, which is teeming with quaint shops, art galleries, antique stores, and music stores.
Food and wine are taken seriously in this area, as evidenced by the number of wine stores, bars, and top restaurants. Exciting events take place downtown year-round, ranging from a farmer's market in the summer to concerts and holiday celebrations.
If you're in the market to buy a home here, there is an assortment of fine options to choose from in this welcoming Southern town.
Living in Covington
Living is easy in this region, where neighbors are warm and welcoming, and Southern hospitality is at its best. The town is considered to be a borderline between “two Louisianas.” To the south of the town is an area that is geographically and culturally distinct from the north.
This southern region is predominantly French in heritage and culture. Naturally, people who enjoy ...