For New Orleans real estate investors (BTW, that includes homeowners
and soon-to-be homeowners of all stripes), there’s some long wished-for news: the
solid reputation of real estate as an investment is back! After years of falling
off, the latest Gallup poll on the economy and personal finance finds that
Americans are now convinced that their best long term investment is in the
housing market. Real estate won out against all other alternatives: bonds,
gold, stocks, mutual funds and CDs.
For the past few years, gold had been investment #1—but see-sawing
gold price movements have whiplashed public sentiment. Just as takes place
everywhere in the nation, whenever New Orleans’s real estate market improves, so
does its reception by potential buyers who view their home as a savings vehicle
as well as a place to hang their hat. As Gallup Economy’s headline put it, Americans Sold on Real Estate as Best
Long-Term Investment.
Public sentiment by itself is, of course, not reason enough
to change long-term investment strategies. But when any investment class is on
the rise in public’s estimation, the effect is to create competition among
buyers—and further price improvement often follows. It can make a difference
when it comes to New Orleans real estate.
One possibility for those selling real estate in New
Orleans this summer might be to consider
capitalizing on the investment trend by including a marketing approach: one
that targets investors. You can have your agent or a local property manager
provide a rental evaluation for the property, along with approximate leasing
fees and property management fees. Having such an evaluation at the ready lets
investment-minded prospects evaluate the potential cash flow and return. It’s
even possible to post the information on your sales website, and to display it along
with other marketing materials at showings and open houses.
In many neighborhoods, New Orleans real estate prices have
a lot further to go to near their previous high water marks; if you look at
neighborhoods individually, you can find some plum opportunities to make a
sound investment. If you are thinking of buying or selling in New Orleans this summer, contact
me to discuss your ideas—and how you will make the most of America’s new Number
One investment opportunity!
Terez Harris NOLA Real Estate Group
(504)297-2619
Harris.Terez@gmail.com
Keller Williams Realty New Orleans 8601 Leake Ave. New Orleans, LA 70118 504-862-0100
Each office independently owned and operated. All brokers licensed in the state of Louisiana.
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