New Orleans Real Estate News

Oct. 19, 2017

Britney Theriot is Mirambell Realty's Newest Realtor

The Mirambell Realty family of agents grew again today, with the hiring of Britney Theriot as it's newest agent.  The team at MBell Realty is super excited to have Britney on board and we know she will fit in perfectly with the culture at Mirambell Realty. Welcome to Mirambell Realty, we are excited to partner with you and reach new heights in your career. Welcome Britney!

Posted in In the News
Oct. 12, 2017

Mirambell Realty Welcomes Lenée Crowley to the Team

Mirambell Realty has grown again by adding Lenée Crowley to our team of Realtors. Lenée looks forward to serving her clients with all of their real estate transactions. Welcome Lenée!

Posted in In the News, News
Oct. 11, 2017

First Time Homebuyer Assistance Program for New Orleans

 

One of the most daunting steps to take towards accessing home ownership is coming up with the down payment. I know as a millennial myself, the idea of having to pay those pesky student loan bills every month and a mortgage seem, well honestly impossible. But believe it or not but there are many opportunities available to overcome that hurdle in the home buying process. The dream of being a first time homebuyer isn't that far out of reach for those in a similar boat.

 

The city of New Orleans has created a down payment assistance program through the Finance Authority of New Orleans (FANO). FANO is a housing and development finance agency created to serve New Orleans. They help to provide mortgage financing for low to moderate income families and credit support for affordable rental and community development projects. Their mission is to improve the quality of life in New Orleans by investing in the creation of affordable housing and economic development projects, which in turn creates quality jobs and wealth for residents.


In order to be eligible for this program, potential homebuyers must attend a homebuyer counseling course prior to final loan approval. Information on approved homebuying education courses can be found on financeauthority.org. Only attendance at an approved course will count towards the requirements for the program. Along with attendance at an approved course, financing must be acquired through one of their participating lenders.


Successful completion of the requirements for the program will allow homebuyers to choose from two forms of down payment assistance. The first option will give homebuyers a second interest free loan that would cover 10% of their purchase price to use as a down payment. The second option will give homebuyers a grant that would cover either 3% or 5% of their purchase price. In order to qualify for the second option, the homebuyers must remain in that home for the next five years or will have to face repayment of the grant.

 

More information on the assistance program can be found at www.financeauthority.org. You can also reach out to any of our agents here at Mirambell and we can help you through the process.

Posted in In the News, News
Oct. 9, 2017

Zillow Trying to Get in the 3D Virtual Tour Game

Remember back to early 2015? I know it may be difficult to remember that far back, but let me jog your memory a bit. In February of 2015, here at Mirambell Realty we sent out a press release because we were the first in the New Orleans area to market with a unique 3D virtual tour.

 

The virtual tour changed the game on home buying, and I guess others have caught on since then because just last week Zillow announced that they will be rolling out their own 3D home tour service.

 

Zillow will be releasing a new app, which will only be available for the iPhone for the present time. The app, called "3D Home", will create an immersive experience all from the users phone. Users will be able to snap images from their phone in a similar method to using the phone’s own panoramic setting. Then the photographs will be uploaded through the app and stitched together automatically by Zillow to create a seamless tour from room to room. Zillow says a 3,000 sq. ft. home should be able to be photographed in about 30 minutes.

 

The app is currently in its early stages of development and won’t be available across the nation until late 2018. However, despite being the only mobile-based app that can offer 3D virtual tours at no cost, it seems like users could be waiting a while for all the kinks in development to be ironed out. Might just be best to stick with those, like us here at Mirambell Realty, that have been doing these tours for years now and have the technology to create truly immersive tours of your home listings.

Posted in In the News
Oct. 5, 2017

Louisiana Among the States with the Lowest Property Taxes

The 2016 American Community Survey data shows that New Jersey still leads the nation with the highest average annual real estate tax (RET) bill of $8,374—$7,707 more than RETs paid by Alabama’s homeowners. The difference between the highest-taxed state (New Jersey) and lowest (Alabama) grew by $481 in 2016.

The overall distribution remained roughly unchanged since 2015, as the composition of the top ten remained the same. The map below clearly illustrates that the highest property tax states are found in the Northeast while—with the exception of Texas—southern states boast the lowest RET bills for their resident homeowners.

As property values vary widely by state, controlling for this variable produces a more instructive state-by-state comparison. In keeping with prior analyses, NAHB calculates this—the effective property tax rate as measured by taxes paid per $1,000 of home value—by dividing aggregate real estate taxes paid by the aggregate value of owner-occupied housing units within a state. As shown below, New Jersey has the dubious distinction of imposing the highest effective property tax rate—2.14% or $21.40 per $1,000 of home value. Hawaii levies the lowest effective rate in the nation—0.29%, or $2.94 per $1,000 of value. Although the state imposes a low rate, it ranks 28th in real estate taxes paid per homeowner as the average home value is the highest in the country ($676,571).

Interstate differences among home values explain some, but not all, of the variance in real estate tax bills across the country. Texas is an illustrative example of a state in which home values hardly, if at all, explain real estate tax bills faced by homeowners. While Texas ranks only 30th in the country for average home values, it is 11th in average real estate taxes paid. Other factors are clearly at play, and state and local government financing turns out to be a major one.

Property taxes account for 40% of state and local tax receipts, on average, but some state and local governments rely more heavily on property taxes as a source of revenue than others. Texas serves as an excellent example once again. Unlike most states, Texas does not impose a state income tax on its residents. Even though per capita government spending is tame compared with other states—11th lowestin the country—Texas and its localities must still find a way to fund government obligations. Local governments accomplish this by levying the 7th highest effective property tax rate (1.62%) in the country, on average. The state government partly makes up for foregone individual income tax revenue by imposing a tax on corporate revenue rather than income.

Of course, neither home values nor a state’s reliance on property tax revenue is fully responsible for the geographic variance of property tax rates and revenues. State spending per resident, the nature of this government spending, the prevalence of homeownership within a state, and demographics all affect tax policy and, thus, the type and magnitude of tax collections. These variables combine to explain the variance that the two factors discussed here do not fully capture.

 

---Article taken from eyeonhousing.org---

Posted in In the News
Sept. 28, 2017

Mirambell Realty Welcomes Jennifer Nice to the Team

Mirambell Realty is excited to welcome Jennifer Nice to the brokerage.  Jennifer is excited and looks to hit the ground running. Mirambell Realty is excited to have Jennifer be part of the culture at M Bell, and we know she will thrive in Real Estate. Welcome Jennifer!

Posted in In the News
Sept. 22, 2017

National Flood Insurance Program (NFIP) Extended

Statement From NAR President William E. Brown:

“Extending the National Flood Insurance Program was a must-do item, and Congress delivered. That’s good news for consumers, as well as an opportunity for proponents of meaningful reform. With a short extension on their side, leaders in the House and Senate should continue work on the 21st Century Flood Reform Act to strengthen the NFIP and ensure the long-term certainty that current and future homeowners demand.”

National Flood Insurance Program (NFIP) Extended

On Thursday, September 7, the Senate voted to pass a three-month extension of the National Flood Insurance Program (NFIP). The House of Representatives passed the legislation on Friday, September 8, 2017, and the President signed the bill into law later that day.

This legislation ensures that the NFIP will not lapse on September 30, 2017, and will be extended until December 8, 2017.

The NAR Call for Action concluded Friday, September 8, 2017 at 5:00 p.m. eastern time. NAR will continue our legislative advocacy efforts for the 21st Century Flood Reform Act until this long-term reauthorization and reform bill is enacted.

Posted in In the News
Aug. 17, 2017

Wayne Gretzky's For-Sale Home is More Like a Luxury Hotel Than a Residence

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Former professional ice hockey player Wayne Gretzky recently sold his plush Los Angeles Sherwood Country Club estate for $6 million. The Canadian hockey great designed the home’s interior to emulate his favorite boutique hotels, and the luxury both inside and outside the estate is endless.

Gretzky and his wife, Janet Jones, bought the property in 2009 for $2.765 million. It features five bedrooms, six bathrooms, and 7,600 square feet of living space. Drenched in finery, the estate’s amenities include a guesthouse, a gym overlooking the palatial pool, a sauna, an outdoor kitchen and an office with a roaring fireplace.

The property sold to Trixy Weiss, co-founder and co-chair of the Board of Directors of Genesis Capital.

Posted in In the News
Aug. 16, 2017

Lisa Kudrow's Recently Sold Gorgeous Ski Resort in Park City

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Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:

Located slope-side at the base of Deer Valley Resort, Lisa Kudrow’s Black Diamond Lodge offers a warm and inviting mountain ambiance. With the ease and comfort of its unique location, this gorgeous two-story ski-in/ski-out penthouse creates the ideal environment for friends and family.

Enjoy the views of the ski resort and lots of natural bright light with the floor to ceiling windows. The private deck off of the downstairs guest bedroom is suped-up with a hot tub overlooking the slope. On the second level there’s a private entrance for extra privacy. Another private balcony can be found just off of the master bedroom, ideal for viewing Deer Valley summer concerts and winter events.

The Black Diamond Lodge is a full-service complex with front desk, shuttle service, concierge, children’s play room, fitness room, steam room, and ski valet with prep room and individual lockers. Only one mile from Park City’s Historic Main Street, its new owners will find fine dining and boutique shopping just a hop away.

Sold by: Paul Benson, Engel & Völkers
Sold for: $3.6 million

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Photos: Engel & Völkers

For the latest real estate news and trends, bookmark RISMedia.com.

Posted in In the News
Aug. 15, 2017

You Can Own Ellen DeGeneres and Portia de Rossi's Santa Barbara Villa

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Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:

Do you want to live with Ellen DeGeneres and Portia de Rossi? Well you can’t, but you can live in their old villa. That is, if you have a spare $45 million roosting in the bank—the posh Santa Barbara pad just hit the market. Known simply as “The Villa,” the estate boasts a lap pool, sunken tennis courts, a super fancy indoor-outdoor entertaining pavilion for all of your fabulous future parties, and incredible views of the ocean, harbor, and mountains.

Originally built in the 1930s, the two-story, 10,500-square-foot spot was created by famed architect Wallace Frost who modeled the home after a traditional 17th century Italian villa. The six-bedroom, eight-bathroom space was featured in Ellen’s 2015 book “Home.”

The comedian/author/talk show host and her Australian actress wife bought the place in 2012, gobbling up the properties on either side to make the villa the expansive estate that it is today.

Listed for: $45 million
Listed by: Suzanne Perkins, Sotheby’s International Realty 

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Photos: TheVillaSB.com

Zoe Eisenberg is RISMedia’s senior content editor. Email her your real estate news ideas at zoe@rismedia.com.

For the latest real estate news and trends, bookmark RISMedia.com.

Posted in In the News