Gardner Logo Larry's Real Estate News AUGUST
2020
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Thinking of Selling Your House? Now Is the Time!


Inventory is arguably the biggest challenge for buyers in today’s housing market. There are simply more buyers actively looking for homes to purchase than there are sellers selling them. So, here at home in the Metro New Orleans, Greater Baton Rouge, and South Mississippi Region, the scale is tipped in favor of the sellers.


According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), total housing inventory is down 18.8% from one year ago. Inventory is well below what was available last year, and the houses that do come to the market are selling very quickly.


Sam Khater, Chief Economist at Freddie Mac notes:


“Simply put, new housing supply is not keeping up with rising demand. We estimate that the housing market is undersupplied by 3.3 million units, and the shortage is rising by about 300,000 units a year. More than half of all states have a housing shortage."

Why is inventory so low?

There are many reasons why it’s hard to find a home to buy today, stemming from an undersupply of newly constructed homes to sellers pressing pause on their moving plans due to the current health pandemic. One of the key factors making it even more challenging, however, is the amount of time current homeowners are staying in their homes. There has truly been a fundamental shift in the market that started about 10 years ago: people are staying put longer, and it’s contributing to the shortage of houses for sale.


In the 2019 Profile of Home Buyers and Sellers, NAR explained:


“In 2019, the median tenure for sellers was 10 years. After 2008, the median tenure in the home began to increase by one year each year. By 2011, the median tenure reached nine years, where it remained for three consecutive years, and jumped up again in 2014 to 10 years.”


As shown in the graph below, historical data indicates that staying in a home for 5-7 years used to be the norm, until the challenging housing market. Since 2010, that length of time has trended upward, toward 9-10 years, largely due to homeowners aiming to recoup their equity:

 

 

Thankfully, with the strength the market has gained over the last 10 years, today’s homeowners are in a much better equity position. Now is a fantastic time for homeowners who are ready to make a move to break the 10-year trend and sell their houses, especially while buyer demand is so high and inventory is so low. It’s a prime time to sell.

 

 

In addition, interest rates recently dropped below 3% for the first time in FIFTY years (keep in mind rates vary daily and exceptions apply). So, there’s an opportunity for sellers to maintain a low monthly payment while benefiting from more purchasing power… In other words, getting more house for their money. Think: move-up opportunity, more square footage, or finding the features that you’re really looking for rather than doing costly renovations. With more new homes poised to enter the market this year, homeowners ready to make a move may have a golden opportunity to do so right now.

Bottom Line

There are simply not enough houses on the market today. If you’re ready to leverage your equity and sell your house, let’s connect today. It’s a great time to move while demand for homes to buy is extremely high, and with the experience and expertise of the GARDNER, REALTORS team behind me, I’ll help you create the life you love!


Thank you to Keeping Current Matters for creating this content.
New Orleans Takeout Treasures

New Orleans Takeout Treasures

BY GARDNER REALTORS | AUGUST 6, 2020

Luckily, while we all safely try to stay as home as much as possible, we don’t have to sacrifice the amazing food we’re used to eating regularly here in the Crescent City. That’s because takeout has risen to the top of the food chain. So, stay safe, stay home, and check out ten of our New Orleans takeout favorites!

 

BEAR’S POBOYS AT GENNARO’S*

3206 Metairie Rd, Metairie

Ranked as the NUMBER ONE poboy spot in New Orleans (that’s some high praise), Bear’s should be one of your first calls for takeout. They’ve got all the poboys you’re craving plus specialty burgers and amazing apps/sides like homemade onion rings, gravy cheese fries, and boudin balls. Yum.

504.833.9226  |  Online Menu

 

BYWATER AMERICAN BISTRO

2900 Chartres St. (Marigny)

A self-proclaimed neighborhood restaurant, Bywater American Bistro has a little something for everyone. From roasted octopus to spaghetti, you can’t go wrong with their takeout menu. They’re also offering a three-course COOLinary menu for just $39.

504.605.3827  |  Online Menu

 

COMMANDER’S PALACE

1403 Washington Ave. (Garden District)

Arguably one of the most famous restaurants in the entire country, Commander’s has continued to serve up their famous fare during the times of COVID. They have a daily-changing menu of family meals and street food to-go, so you can take that high-class New Orleans feeling home with you!

504.899.8221  |  Online Menus

 

Commanders

 

Dat Dog

 

DAT DOG

5030 Freret St / 3336 Magazine St / 601 Frenchmen St

Their slogan is “put a smile on your face” and it’s hard not to when you’re around one of 3 Dat Dog locations. With bright colors and a fun atmosphere, Dat Dog is simply smile-inducing. And, that’s before the food. They have an array of gourmet sausages, all-beef hot dogs, award-winning French fries all available for easy takeout.

Online Menus

 

 

DOOKY CHASE

2301 Orleans Ave. (Tremé)

Another world-famous classic, Dooky Chase is here for all your soul food take out desires. The Chase family opened in 1941 and have served presidents, civil rights leaders, and celebrities. Fortunately, you don’t have to be famous to stop and get a plate of their renowned home cookin’. Make note that they’re open Tuesday – Friday.

504.821.0600  |  Online Menu

 

 

OLIVE BRANCH CAFE

5145 General de Gaulle Drive, Algiers (Westbank)

Got a craving for some pizza or Italian? Head on over to the best bank and stop by Olive Branch Cafe. Their famous pizza dough and Caesar dressing are prepared by hand each and every day so you know you’re getting freshness that will last your car ride home. Mama mia!

504.393.1107  |  Online Menu

 

PHO NOI VIET

2005 Magazine St. (LGD)

One of New Orleans’ sneakiest best food options is Vietnamese and one of our favorites is Pho Noi Viet on Magazine. You can get incredible pho, noodles, bahn mi, and more, and they’re open for takeout Wednesday – Sunday from 12 – 7.

504.522.3399  |  Online Menu

 

Pho Noi Viet Piccola

 

PICCOLA*

4525 Freret #103 (Freret)

We’ve already listed some amazing options for big meals for you and your friends or family. But, we need some dessert goodness in our lives right now, don’t we? Look no further than Piccola where you can get the finest house-made artisan gelato, made according to the gelato artisan standards in Florence and Bologna, Italy. for Gelato / Crepes / Coffee (sources local milk and cream on Freret)

504.493.5999  |  Online Menu

 

THE RUM HOUSE

3128 Magazine Street (Uptown)

If you’re like us, you’ve missed that Caribbean flare on Magazine. More importantly, we’ve missed their tacos, and that’s why we’re so glad you can get them via takeout.

504.934.3333  |  Online Menu

 

SHWARMA-ON-THE-GO

3720 Magazine St (Uptown)

New Orleans is world-famous for its food. That’s undeniable. But, the entire South is also famous for incredible gas station cuisine, and one of our favorite diesel destinations is Schwarma-on-the-Go. Located in the Jet-Go gas station at the corner of Magazine and Peniston, they’re serving up the best hummus, fried-eggplant sandwiches, and homemade chicken and lamb-and-beef shawarma in town. They were actually listed as one of GQ’s “best restaurants in an unexpected place.”

504.269.6427  |  Online Menu

 

TSUNAMI*

Corner of St. Charles & Poydras (Downtown)

The team at Tsunami claims to serve marvelous edible art, and they’re not lying. Stop by to pick up your nigiri, sushi, or sashimi fix, or take home one of their incredibly delicious and fun home sushi kits.

504.608.3474  |  Online Menu

Larry Gruber »
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