4 Signs You're Not Ready to Buy a Home and What to Do About It

Buying a home is a major life milestone. Your heart might be set on becoming a homeowner, but red flags might indicate you're not yet ready to make the leap. 

Homeownership represents much more than a financial investment, and there are several reasons why potential homeowners might want to delay a home purchase. Here are four of them—and advice on how to overcome these obstacles. 

1. You Have Too Much Debt To get approved for a mortgage, you must show you can handle all of the expenses of owning a home (including the ones that aren't rolled into your monthly mortgage payments). You also have to meet your other financial obligations, and that might be a challenge if you already have a mountain of debt on your plate. 

How to overcome it: Pay down your debt to a manageable level. If you've accumulated a lot of debt over time, consider a personal loan to consolidate them into one streamlined, and preferably lower-interest, monthly payment. And avoid getting sucked into a new debt trap by cutting spending and diligently paying down debt. A debt consolidation calculator can help you determine how to strategically consolidate and pay down your debt. 

2. Your Credit Isn't Stellar Your credit history and credit score are closely linked to the mortgage pricing you'll receive—and that impacts your monthly payments for the life of the loan. A good starting point is to give yourself a credit check-up to see where you stand. If your credit score is not optimal, you'll pay more for a mortgage. Your credit score today will have a huge impact on the homes you're looking at and can afford. It may be sensible to wait to buy and work on your credit. 

How to overcome it: To boost your credit score, pay your credit cards and other debts on time. Ideally, credit cards should be paid off in full every month. Avoid opening new credit lines unless you're establishing a credit history. Finally, keep your credit utilization ratio to 30 percent or less of your available credit limit for each credit account. In other words, your balances shouldn't exceed 30 percent of your maximum credit limits. 

3. You Don't Have Enough Savings Buying a house comes with a lot of upfront expenses that go beyond your monthly mortgage payment. Expect to pay 2 percent to 4 percent of a home's purchase price in closing costs. Plus, there's the down payment (anywhere from 3 percent to 20 percent of the purchase price, depending on your loan type) and moving expenses to factor in. But it's the hidden costs of homeownership that take many new homeowners by surprise. These might include homeowners association dues, condo/assessment fees, routine maintenance, utility bills and major repairs. Ideally, homeowners should save roughly 1 percent of the home's purchase price each year for maintenance expenses. 

To save more, pay yourself first by depositing a set amount from each paycheck into a savings account. If you have to start small, that's OK. Consider opening a high-yield savings account to accrue interest on your cash. Cut back on unnecessary spending such as monthly subscription services, eating out, impulse shopping and other financial vices. Depending on your income and credit profile, you may qualify for homebuyer assistance programs that can help you pay for down payment and closing costs for a home. 

4. You Want a Carefree Lifestyle If you're someone who moves frequently, buying a home might not make financial or practical sense. Lifestyle plays a huge role in the decision to rent versus buy. Remember that the bigger the house, the more maintenance and upkeep. If you want to keep things low-key, buying a condo or continuing to rent might make more sense until you're ready for more responsibility.

For More Information Visit https://homesalesneworleans.gardnerrealtors.com/

What to do if you inherited a home

If your loved one passed away, and there is real estate left, the process of dissolving the estate could become
very complicated.

Family feuds and other problems can potentially result when inheritance portions aren't clearly defined,
or when an executor may be in over their head. Many newfound executors can face uncertainty and feel
stress.In the wake of a family tragedy or death, being the executor of an estate can be especially challenging.
And the biggest asset in an estate—and the most difficult to resolve—is usually a house.

Here's a list of important decisions an executor may face when a house is part of an inheritance:

Keep, rent or sell? Caught in the middle, the executor has to ask the heirs to keep their emotions under
control and put the rational facts on the table. Selling is often the best decision if medical bills, tax issues or

other reasons require cashing out, and it produces a specific amount that can be divided equally.

Can you manage a property investment? When considering keeping the property in the family,
the executor needs to be objective about the beneficiaries' dependability. Would you choose the other
beneficiaries to be your partners in any long-term investment? Could they get divorced, go bankrupt or
bring other entanglements? If you decide to rent the property, there are issues to consider, such as the local
market for rentals and your ability to maintain the property.

Establishing value of the property. If one heir or beneficiary wants to buy the house, the estate must
determine the market value and get a fair price for the heirs and beneficiaries. One way is to get two appraisals,
or ask an experienced Realtor for help. Alternatively, the executor can put the property on the market with
the expressed provision that one of the heirs has the right of first refusal to match the highest offer.

Repair and renovate? The executor must make sure the house is maintained in good condition, necessary
repairs are carried out, and that it's kept insured. An executor can be personally liable for failure to maintain
a property that results in losses for the heirs. How much work is worthwhile before putting a home on the
market? That's a big question that depends on the property and circumstances.

Furnished or unfurnished? It's not unusual for an inherited home to be filled with a 30-year accumulation
of stuff. In most cases, when the property goes on the market, thinning out the furnishings will help it show
better. Nine out of 10 buyers first see the home in online photos.

Being an executor is a high-responsibility, time-consuming, and often thankless job that people often take
on while grieving. It's up to the executor to assess not only the physical assets of an estate, but also the people
and emotions involved.

For more helpful information visit https://homesalesneworleans.gardnerrealtors.com/

Patio trends for 2018

Outdoor design trends for 2018 are all about incorporating affordable luxury into your own backyard by
turning your patio into a peaceful, lush oasis through low-maintenance water fixtures, a color refresh
and vintage materials.
The days of small, bistro-style dining tables on the deck and patio are over, and that large-scale
square and rectangular tables are hot. Trend-watchers are seeing patio furniture that mixes materials,
such as metal and wood, instead of a single material, such as wicker.

Homeowners these days are gravitating toward easy-maintenance exterior garden designs that enhance
physical and mental wellbeing with spa-inspired touches, like meditation benches, fountains, reflecting pools,
rock waterfalls and zen gardens. The low-maintenance water features can add visual interest and soothing
sounds to a yard—even in drought-prone climates—because they actually require little water (and recycle
the water they do use).

Linen, teak and rope are a few of the materials designers are incorporating into exterior furnishings and
accessories to give this year's easy-breezy trend pizazz. Pink is the accent color of choice in 2018,
especially if a hint of blush is introduced into your furniture vignettes.

As far as accessories are concerned, think bright and bold when it comes to fabrics for your patio furniture
cushions in 2018. Go with yellows, reds and pinks that will pop against all that natural greenery, and your guests
will be raving about your impeccable sense of style all summer long.

For other good tips visit https://homesalesneworleans.gardnerrealtors.com/

Lawn Care and You!

You bought a home, and now you are deciding how to handle the lawn care. Should you do it yourself? Here are some positives about doing it yourself:

If you love spending time outdoors, doing your own lawn care can be a great way to get some Vitamin D. Spending time outdoors in a garden is a great way for those who aren't afraid to get their hands dirty to care for their home. 

 It also can be a great workout! If you enjoy working up a sweat, doing your own lawn care is a great option in that it provides an extra dose of exercise. Weekly or biweekly mowing burns some calories, and will bring you some pride in owning a home with a well-manicured lawn. 

It can become a source for creative freedom! You can have the ultimate say in every decision that is made when it comes to their outdoor space. You can pick up a plant that you like and add it to your garden without having to consult anyone else. This freedom is great for anyone who may have trouble communicating ideas with a lawn service or for those who take pride in being able to do it themselves.

 Equipment Upkeep can be seen as a negative. It can take a lot of tools and machinery to keep a lawn in tip-top condition. Allowing a lawn service to do the work keeps homeowners from having to purchase lawn mowers, trimmers and leaf blowers. These items can be tricky to maintain, which saves the homeowner from purchasing gas, oil or replacement trimming line.

You might think paying for a lawn service can be quite expensive, but it's a catch 22 of time and money. Choosing a lawn service is the ultimate way to save time and it adds convenience to a busy lifestyle by not having to worry about getting the lawn care done on a weekly basis.

To search for homes visit http://homesalesneworleans.gardnerrealtors.com/

2016 Trends for Curb Appeal

Everyone these days is aware of the importance of the curb appeal of a home, especially when you decide to sell or buy. Curb appeal can give a lift to the value of a home. Improving the curb appeal of your home can boost its value by as much as 17 percent, the Texas Tech researchers found. They say curb appeal ranks second only to home size in weighing a home’s value.

Here are top-of-mind trends for curb appeal in 2016.

1. Front Door
A fresh coat of paint can spruce up a ho-hum front door and help make a better first impression when someone is eyeing your home. It creates interest and a focal point to the façade of the home. It gives the home personality. It is inexpensive to do, but has an immediate impact. Contrasting the color of your front door with the color palette of your front yard. Works really well.

2. Lighten Up the Exterior
Outdoor lighting can add a touch of elegance to your front of your home. Furthermore, it can enhance the safety of your house. Outdoor lighting should go beyond ordinary lampposts and wall-mounted lighting to make your landscaping really stand out. Try installing stylish and modern lighting on your front porch.

3. Liven Up the Landscaping

Flowers and fertilizer can be your friends when it comes to bumping up the curb appeal of your home. A study by Alex X. Niemiera, a horticulture professor at Virginia Tech, shows that a well-landscaped home holds a higher value than a home without proper landscaping. 62 percent of American homeowners say the lawn influenced their home-buying decision.

4. Porch Furniture

Placing a bistro table or a couple of chairs on your porch can yield a return on investment. Nothing is more inviting than a pair of matching rockers on a front porch that are visible from the street.

5. Upgrade the Garage Door

One of the easiest ways to improve your home’s curb appeal is upgrade your garage door. According to the Remodeling 2015 Cost vs. Value Report, the average cost of replacing a garage door on a home is $1,595, with an owner being able to recoup 88 percent of that cost.


For more tips go to http://www.homesalesneworleans.com/

Bidding Wars In Real Estate Market

Housing inventory in the Greater New Orleans Area remains low, and demand for homes has been high. Brokers see their share of bidding wars quite often.

Professional buyers come in with all cash and buy up available properties. The regular buyers clamor for quality product if there aren’t that many available just as aggressively as the pros.

Sometimes regular buyers are pitted against deep-pocketed investors, making for an awfully daunting showdown—not that the seller should mind. Occupant-buyers need to show somehow that they’re more likely to close the transaction than an investor. Cash and speed are to the advantage of the investor, but they’re not as heavily invested in actually getting any single property they’re writing offers for. Regular buyers should show commitment, whether by financial, logistical, or personal means to sway the seller—within legal guidelines, of course. Personal letters, earnest money increases, and waivers of contingencies can all show serious intent to close.

To search for homes go to http://findneworleansproperties.com/

Size Of The New Constructed Homes Goes Up Again.

Remember how the size of the new constructed homes kept declining over the last several years? Well, it looks like that trend came to an end. Recent research indicates that “size matters”, and here is a good RISMEDIA article illustrating just that: http://rismedia.com/rrein/20166/1023666/5079737/77164?utm_source=newsletter&utm_medium=email

For more information go to http://findneworleansproperties.gardnerrealtors.com/

What's Desirable in a Home Today

There are plenty of home buyers these days dreaming about a brand-new house with the outdoor kitchen, the two-story foyer, and the luxurious master bathroom, complete with a whirlpool tub. But today homebuilders across America have decided to cut out those kinds of features in favor of efficient, organized, and pragmatic ones.

Walk-in closets, laundry rooms, energy-efficient windows and appliances, and programmable thermostats are on the rise. It’s all about efficiency, both of time and resources. A working couple trying to get out of the house in the morning needs a walk-in closet in the master bedroom, they need a laundry room that’s well-lit and well-organized. That’s how they improve the efficiency of the household, find clothes, get organized, and hide the clutter.

Today's buyers are fixated on comfort and affordability. It’s part of a postrecession cultural shift toward pragmatism, and homebuilders have adjusted their creations accordingly, appealing to a segment that’s willing to forgo a two-story foyer or family room to get a better price.

Their list of most and least likely features does offer a few surprises; it’s not all about the decline of luxury. Once a high-end item, granite countertops are now the norm. Specialty spots such as media rooms or sunrooms are being replaced by spaces that are more flexible, especially additional bedrooms. And communities with jogging and walking trails, previously coveted, are now less popular than a two-car garage. Just because some features are less common doesn’t mean you can’t get your hands on a house that includes them. All you have to do is spend more money.

Hear are the features most likely to be found in new homes:

         1. Walk-in closet                             6. Energy Star windows
         2. Laundry room                              7. Ceiling 1^st floor 9’
         3. Low-emission windows                8. 2-car garage
         4. Great room                                  9. Programmable thermostat
         5. Energy Star appliances              10. Granite countertops

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Don't Argue When Selling Your Home

Tips to Avoid Home-Design Arguments

Design and style preferences when when staging your home to sell may create quite a bit of drama. comes to your home. Here is some advice on how to stop the fights that have kept you from painting the walls or tiling the floors. 1. Make a plan Making a list of how each room has to function and look before embarking on a design project is not a bad idea. This will help couples and families prioritize and understand why one idea might be better than another. Think realistically about how you’ll use the space or how potential buyer might use it. Look through pictures online or in magazines, and talk openly about your likes and dislikes. 2. Listen to each other Communicate openly, and don’t forget to listen. Interior designers say the majority of their job comes down to listening to clients. Sometimes your spouse or partner might just want his or her ideas heard. Discussing concerns helps to avoid conflict, and will help you determine what he or she likes about a particular color, pattern or piece of furniture. 3. Combine your ideas Not everything has to match. There are ways to mix style preferences. This could be as easy as using one person’s color choices with the other person’s fabric selection. 4. Hire an interior designer Bringing in reinforcements often helps see eye to eye, but it could cost you between $100 and $300 for an initial one-hour consultation. For more tips visit http://findneworleansproperties.gardnerrealtors.com/

2015 is going to be great for the housing market.

There are numerous strong indications that this year housing market will improve even more than in 2014. Click the link and listen for yourself.

For more good information or to search for homes go to

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OPEN HOUSE ON SUNDAY, 4/27/14, 1-2:30 PM!

Home Prices of Normal Sales Up 0.3% in December

The latest FNC Residential Price Index™ (RPI) shows U.S. home prices continue to rise. As of December, the RPI indicates the fastest year-over-year growth since the recovery began in early 2012. The index, constructed to gauge price movement among normal home sales exclusive of distressed properties, was up 0.3% in December—outperforming the overall price movement in the single-family housing market. Unlike overall price measures that include distressed sales (which recently have shown signs of weakening), home prices of normal sales have been rising at steady and sustainable levels—about 0.3-0.5% per month.

Based on recorded sales of normal, non-distressed properties (existing and new homes) in the 100 largest metropolitan areas, the FNC national composite index shows that, in December, home prices rose at a seasonally unadjusted rate of 0.3%, essentially maintaining the same pace achieved since September.

For more information visit http://findneworleansproperties.com/ 

The future of lighting

Wi-Fi-connected, long-lasting LED bulbs are breaking ground in the lighting industry. Instead of flipping a switch, one day you may just need to flip an app on your smartphone or tablet.

These bulbs not only aim to smarten up lighting in homes with “mood” lighting, but also provide another option to those who may not be fans of the “uninviting” light that standard energy-saving LED, compact fluorescent, and halogen bulbs put out.

Smart bulbs are not only energy efficient but they can be controlled by a person’s smartphone and offer different lighting settings that can be set to your mood.

One debut from Philips — the Hue smart bulb – lets you control your wireless lighting from an app on a smartphone or tablet. You can dim the lights and even use different color lighting schemes to serve as mood lighting. The bulbs also come with preset lighting settings that aim to help you better concentrate, read, or relax too.

Belkin’s WeMo Smart LED Bulb — a 60-watt equivalent LED bulb — also got a lot of attention at this year’s CES. It works with an app for IOS and Android smartphones, and the bulbs can last up to 23 years. The bulbs are fully dimmable and can be scheduled to dim at certain times. For example, you can set the lights to gradually dim as you fall asleep. The lights emit a warm white light that is more similar to incandescent bulbs.

Lumen Smart Bulb can turn on when it just senses your mere presence 50 feet away. It can also be set to flash the lights to alert you about an incoming phone call.

But one big barrier smart bulbs may still need to overcome before heading mainstream: The cost. Smart bulbs aren’t cheap, especially compared to other lighting options. For example, Lumen’s smart bulbs are about $70 each, and Belkin’s WeMo Smart LED Bulbs sell for about $39.99 each.

But could this be the future of lighting? Several manufacturers believe smart bulbs could also pave the way for a fully connected home from your smartphone — one that encompasses all your appliances and home’s systems, not just your lights.

For more information visit http://findneworleansproperties.com/

HAPPY 2014!!!!!

Enjoy...

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COMING TO THE JOY THEATRE

Direct from New York, the world's #1 Dinner Show, Tony 'n Tina's Wedding, is coming to New Orleans for an exclusive engagement at the Joy Theater!  Tony 'n Tina's Wedding is the longest running Off-Broadway comedy in history. 

In this hilarious interactive comedy, the audience is part of the show.  As "invited guests," the audience begins with a ceremony followed by a rousing reception.  There's dancing, champagne toasts, a full pasta dinner and a slice of wedding cake...all provided by the Nunzio and Vitale "families."  Don't miss out on the 25th anniversary tour of Tony 'n Tina's Wedding!

More information on what's happening in New Orleans 

The Big Question: To Renovate or Rebuild?

http://findneworleansproperties.com/real-estate-news/the-big-question-to-renovate-or-rebuild

1310 DAUPHINE ST, New Orleans, LA 70116

Classic beauty within a block of Cabrini Park. Masonry two story home with attached service wing constituting a most elegant home with wood floors and Italian stone floors. Currently used as a 2 bedroom 2 bath plus a rear outhouse which has been "chic-ed" up for downstairs half bath usage off of an elegant side garden/patio. Possible parking a plus. Early 1850s architecture.
Now offered for sale.
http://findneworleansproperties.com/

Economist Sees Interest Rates Leveling Off Next Year

Last week Ken Fears, a leading housing economist predicted that recent increases in mortgage interest rates will level off next year and housing sales across the nation will remain strong. He said “We see prices continuing to rise and we expect rates to be about 5.1 percent maybe up to 5.25 percent.”

Mortgage rates have increased more than 1 percentage point since May, although Thursday, they dropped to 4.5 percent from last week’s 4.75 percent.

Meanwhile, sharply rising prices have pulled more homeowners out from underwater on their mortgages — where homes are worth less than what’s owed on them. That has led to declines in foreclosures and delinquencies, reducing the inventory on banks’ balance sheets and lowering the potential for a future wave of foreclosures.

Banks also have been more comfortable making loans to people buying more expensive houses than cheaper ones, presumably because they have stronger credit. Jumbo loans usually carry higher interest rates than conforming loans, but that pattern was reversed recently, Fears noted.

Fears says the NAR expects prices to continue to rise.

For information on homes and condos for sale in the Greater New Orleans go to

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JULY HOME PRICES SOAR

The housing market continues its march forward, as home prices nationwide increased by 12.4 percent year-over-year in July when compared to a year prior. This boost is the 17th consecutive monthly year-over-year boost, with prices up 1.8 percent between June and July 2013. Excluding distressed sales, home prices increased on a year-over-year basis by 11.4 percent in July 2013 compared to July 2012. On a month-over-month basis, excluding distressed sales, home prices increased 1.7 percent in July 2013 compared to June 2013. Distressed sales include short sales and real estate owned (REO) transactions.

What could be bringing more buyers into the fold?

Boomerang buyers who are currently renting because they had a short sale or foreclosure in the past 2-3 years but are now eligible to purchase again.

The fact that interest rates are going up a little creates a sense of urgency among buyers. Even though prices have increased 25 percent in the past 12 months, it’s still an affordable market. We’re in a recovering market, but if you wait another year or two, you might be kicking yourself.

For information on buying a home or condo visit FindNewOrleansProperties.com