We’ve heard a lot of whining from agents lately when they get beat out in a multiple offer situation. “But you didn’t tell me to submit highest and best. You have to tell us when there are multiple offers on the table.” Nope. Home sellers don’t have any obligation to buyers or their agents to disclose multiple offers. When it comes to multiple offers, there are advantages and disadvantages to a seller disclosing this information. It’s an advantage to call for the highest and best, with the knowledge that buyers generally increase their offers when they know they are directly competing again ..read more

Home inspection conversations I’m part of an online group of real estate professionals from around the country, so it always interests me when the conversation turns to “how we do it” in different states. Recently, there was a discussion about the pros and cons of agents attending home inspections with or on behalf of their buyers and sellers.  Amazingly enough (to me anyway), there were a large number of agents who choose to not attend the inspections EVER. There are even some who don’t encourage the buyers to be present as well. Some of the reasons I heard were things like “I don’t want ..read more

Now that everyone is in the clean-up phase after Hurricane Ida, buyers who were already under contract on a New Orleans home before the storm hit should be doing another property inspection. In the city, the most typical damages were to roofs and fences. That doesn’t mean that it’s the only thing you should be reinspecting though. New Orleans property inspections part deux The first step is to have your agent contact the listing agent to determine if there were damages that the seller is making an insurance claim for and/or if they have a timeline for when repairs will be compl ..read more

It’s been an exhausting couple of weeks in New Orleans, for sure, and we didn’t get the damage that our neighbors south of us received. But that doesn’t mean there aren’t still some post hurricane tips that newer residents, and maybe even a native, might need to know about. Make that claim One of the best pieces of information we got after the storm came from Insurance Commissioner Jim Donelon. Did you know that your named storm deductible applies to the entire hurricane season? We didn’t! Even if you received only minor damages that won’t exceed your deductible, it’s important to make that c ..read more

When it comes to how REALTORS get paid, there seems to be some confusion among consumers. Sellers typically have a good grasp on it, since their listing agreement spells out exactly how much using an agent will cost them. But buyers are often unaware of exactly how their agent makes money. Let’s break it down. Don’t REALTORS get paid a salary? Nope. There are a couple of brokerages out there that have agents as employees, but the average REALTOR gets paid only when they close a sale. We don’t receive any compensation for showing houses, so loyalty is important to us. Just as we are loyal to o ..read more

Everyone knows that it’s a hot real estate market out there. Low inventory, short marketing times, and a ton of buyers on the hunt mean that preparing to sell your New Orleans home is easier than it’s ever been. BUT, and that’s a big but, preparing is still just as important as it’s ever been. Buyers may have limited choices right now, but that doesn’t mean they won’t pass you by if your house is in poor condition. Where to spend money when preparing to sell your New Orleans home Professional photos are a must, even in this market. Showing your home in the best light online remains ..read more

When it comes to buying a New Orleans home, you’ll need to be able to save for a down payment. This can be a challenge for lots of people, especially single home buyers. But no worries, we’ve got some saving tips that will take you from tenant to homeowner before you know it. Set up a save for down payment fund As you start saving, consider putting your down payment money into a savings account or money market account so that it earns interest every month. While interest rates may be low, every little bit helps. PRO TIP: Keep your down payment money in a separate bank from the one y ..read more

With the marriage rate dropping in the U.S., it’s no surprise that we’re seeing more and more single home buyers enter the real estate market in New Orleans. Because buying a home on your own presents its own set of challenges, we thought we’d give you a few tips on making the process a little smoother. Financing for single home buyers Income is the main obstacle for single home buyer mortgage approval, so the more money you have saved for a down payment the better. Don’t take on a mortgage payment that stretches you to your limit, because as a single home buyer, you’re all you’ve got. Leave ..read more

It used to be that FHA financing was the #1 form of mortgage loan in the New Orleans area for homes that fell within the loan limits. But over the last couple of years, buyer competition has been fierce and as of January 2021, FHA loans were used in only 13% of homes purchased in the last 6 months. If you’re a New Orleans home buyer using FHA financing, here are some things you should know that the appraiser will be noting and that could throw a wrench into a closing. Looking for these items when house hunting will allow you to either choose to pass on a house that you know won’t meet the guid ..read more

Before you move into that New Orleans rental, it’s important to do a walk-through of the property and document the condition. That’s why we’ve put together this rental move in checklist for you. What goes on your rental move in checklist? HVAC system Test the air conditioner and/or heater before moving in. There’s no worse time than a July move to find out that the HVAC system isn’t working properly. You would need an ac repair service like Control Techs NW to get it working properly. Smoke detectors Check for smoke detectors. Since 2011 Louisiana has required that all single family homes or d ..read more