New Orleans Real Estate News

Jan. 3, 2020

Robyn Bruno Awarded RISMedia's 2020 Newsmakers Inspirations Award

Robyn Bruno has been selected amongst a small group of real estate professionals by RISMedia, a real estate industry news outlet, as one of their 2020 Newsmakers in the Inspirations category. This is an incredible and high honor, as Robyn has been selected amongst real estate professionals on a national level.

Robyn was selected from thousands of nominations for this award. She, along with the rest of 2020 Class of Newsmakers, were selected for their influential contributions to the industry of Real Estate. Members of the 2020 Newsmakers class were selected based on their influence in advancing the Real Estate industry, their impacting change on the industry, their technological achievements, their diversity and humanitarian efforts, and for making headlines throughout their career. 

The 2020 Class of Newsmakers were divided into several categories. Robyn was selected as a member of the Inspirations category, being honored for her successes and achievement in the real estate industry and her perseverance throughout her career.

The RISMedia's 2020 Class of Newsmakers are considered the leaders and icons within the industry. They are considered to be the ones breaking the molds within the industry and making a difference.

Robyn Bruno can be seen as a member of this years class on both the RISMedia website and in their January 2020 print issue. This is truly an illustrious class for Robyn Bruno to join. Congratulations to Robyn Bruno, RISMedia 2020 Newsmakers Inspirations.

See Online Award Announcement: RISMedia

Posted in In the News, News
Dec. 30, 2019

2020 Real Estate Predictions

Welcome to the Roarin' 20s! Hard to believe another year and decade are coming to a close, but as we tie up the little bow and move on from from 2019, let's take a moment to see what 2020 is looking to have in store for the real estate industry.

Throughout the last few years interest rates have been getting lower and lower. In 2020 it is expected that mortgage rates are likely to hover around 3.8%, a great low rate. This will energize the buyer's markets. However, because the housing market is still seeing a shortage problem and the housing tenure length is still rising; this will ramp up competition for buyers out there. 

While the growth in competition will make for some frustration for the buyers the return of bidding wars will result in good outcomes for home sellers. The real estate website, Redfin, predicts that one in four offers will face a bidding war in 2020, up from one in ten in 2019.

As 2020 progresses the ramped up competition will encourage more homeowners and builders to sell homes, which will each the supply and demand relationship by the end of the year. As the supply and demand balance out the year will end with a likely national average of 3% price growth in the housing market.

Also, with the drop in rate the surge in home mortgage refinancing is likely to be a continued trend through 2020. Some forecasters are even predicting that rates could drop as low as 3.4% in 2020, which will really ramp up not just the housing market but also the mortgage refinancing market.

Millennials accounted for 46% of the home buying power in 2019 and their representation of the market will only continue to grow in 2020. The growing number of this generation who are eager to obtain homeownership are making a push towards the suburbs as home prices in the cities continues to increase. This wave to the city outskirts is changing the shape of suburbs, creating a new wave of "hipsturbia" communities, which are live-work-play neighborhoods. This is breathing new life into smaller towns.

With the growing share of the market being taken over by the younger generations the industry will see a further shift into digitization. In 2020 expect to see the various e-signature, digital mortgage application, income verification, and e-notary companies begin to partner up to streamline their service. This will shift the real estate and mortgage industries further into the digital world.

With all these prediction it is no doubt that 2020 will be a thrilling year in the real estate industry!

*Sources:

Housing Wire

Forbes

Posted in In the News, News
Dec. 23, 2019

Taking The Time To Reflect

As the end of the year comes rushing towards a close, it may be easy to get caught up in the whirlwind of the holiday season. However, it's important to take a moment to stop and think about all the moments, the highs and the lows, from the last year. Reflecting back is especially important this year as we are nearing the end of another decade.

Here at Mirambell Realty we have so much to be thankful for from the last year and even more so from the last decade. Over the last ten years I have been blessed to watch my company grow from the small idea I had of simply making a different type of brokerage to an incredible family of agents and office personnel. When I began this company a little before the start of this decade I couldn't imagine all of the wonderful agents that would join in with me on the idea of "ReThinking Real Estate". I didn't imagine all the ways that we could put technology into our homes sales to better serve our clients. I didn't imagine all the buyers and sellers me and my wonderful team would help through the journey of homeownership and the friendships that would come from those transactions. It's truly been a humbling and incredible journey.

Throughout the years I have seen agents come and go, it's a part of this business that never gets easy. Some leave from other ventures, some take their talents elsewhere. It's a hard and difficult side of the business to accept, but I have been lucky to have had some wonderful and amazing agents stay with me throughout this whole journey. It has been such an honor as their broker to watch them grow and have them help shape this company into what it is today. I have also been so fortunate to see this company grow to about forty agents now! This team is really the MBell family and they make this job so rewarding. They are the reason we have seen so much success including the award bestowed upon this office this year from Build Magazine, Leading Specialist in Real Estate Transactions for New Orleans.

Awards such as the one from Build Magazine have really been the peaks of this year and the past decade. My team and I have been graciously blessed with several honors. Including having Michelle Rousse and Robyn Bruno as part of the top leading producers in the New Orleans Metro recognized by New Orleans Real Producers Magazine. Also, I was so humbled to receive the City Business award for Excellence in Residential Real Estate award this year. As well as the national award from RISMedia as a 2019 Newsmaker Achiever Award. While the awards and honors are shining moments in anyone's career, they pale in comparison to friendships that have blossomed from this past decade.

Working with countless clients over the last decade as brought so much joy and fulfillment into mine and my company's lives. Helping first time home buyers close on their first home and help past clients move on to their next home, it's all a sublime part of being in this industry. I am eager to see what the next decade has in store for the MBell Team. We will be kicking off 2020 by moving into our beautiful new office on Metairie Road early in the year and I know that will bring a great deal of new excitement to the team and to our clients that come into the office.

So, as this year and decade comes to a close I just wanted to take a moment to say thank you. Thank you to the agents who are here in the office making this MBell family run so smoothly and wonderful. Thank you for the friendships that have blossomed from years of working hard as team, it makes it all not even feel like work. Thank you to clients who have trusted us with one of the biggest moments of their lives and thank you for the solidarity that has come from that. Now let's bring on 2020 and see where this journey heads next!

 

Graciously,

Craig Mirambell, Owner and Broker of Mirambell Realty

 

Posted in In the News, News
Dec. 4, 2019

Tis' The Season To Sparkle

It's that time of year again, the streets are beginning to twinkle and sparkle at night. The weather has turned a little cooler (occasionally anyways). The people along the levees are preparing the annual bonfires to be ready for Christmas Eve. Yup, that little magic you feel, that's Christmas in the air.

We live in a fun and exciting city and there's lots to do to enjoy this holiday season. Here is a list of some fun Christmas joy to join in on with family and friends this year!

  • Celebration in the Oaks: (Open November 29 to January 1st) This year for the first time since before Katrina, the park will top one million lights displayed through the park. Learn More Here

  • Audubon Zoo Lights: (Open Select Nights November 29 to December 30) Bring the family to wild, glowing wonderland! Learn More Here

  • Miracle on Fulton Streat: (Open November 29 to December 21) Harrah's transforms Fulton Street into a winter wonderland. Enjoy the hourly "snowfall", twinkling lights, and larger than life tree and gingerbread display. Learn More Here

  • Waldorf Wonderland at the Roosevelt Hotel: (Open December 3 to January 4) There's nothing better for a New Orleans Christmas than taking a stroll through the Roosevelt hotel lobby to see the stunning holiday display. Learn More Here

  • Christmas in the Park: (Open December 6 to December 30) The annual holiday exhibit at Lafreniere Park lights up of the holiday nights with thousands of twinkling lights. Learn More Here

  • Kenner Christmas Village: (Open Friday and Saturdays, December 6 to December 28) The Kenner Christmas Village illuminates this holiday season with lights and animated scenery. Learn More Here

  • Christmas under the Stars: (Open December 6 & 7, and December 13 & 14) Slidell's annual holiday celebration sparks the holiday spirit in anyone with it's life size Christmas cottages, the parade of trees, and the nativity. Learn More Here

  • St. Tammany Annual Holiday of Lights: (Open Weekends, December 6 to December 14) Enjoy the holiday cheer of the annual light display of Koop Drive in Mandeville. Learn More Here

  • Pontchatoula Christmas Lighting: (December 6) Join in on the holiday fun when the mayor of Ponchatoula flips the switch to light up the town with Christmas cheer! Learn More Here

  • Luna Fete: (Open December 12 to December 15) New Orlean's free festival of light, art and technology brings its interactive holiday lights back again this year. Learn More Here

  • Deck the Rails at Covington Trailhead: (December 14) Come see the lighting of the Covington Trailhead and stay to enjoy an outdoor movie and craft activities! Learn More Here

  • Lights on the Lake Celebration & Boat Parade: (December 14) Come see the stunning boat lit up in their holiday flare at the New Canal Lighthouse. Learn More Here

  • Slidell's Bayou Christmas: (December 18 to December 23) Featuring more than 80,000 dazzling lights animated to holiday music in Slidell's Heritage Park. Learn More Here

  • NOLA Christmas Fest: (Open December 20 to December 31) The family-friendly indoor Christmas festival returns to the Ernest N. Morial Convention Center this year. Come enjoy the decorated trees, carnival rides, and indoor ice skating. Learn More Here

  • Eden Isles Christmas Boat Parade: (December 21) It's a Louisiana Christmas on the water! Head on out to Marina Drive to watch the lit up boats sail by! Learn More Here

  • Festival of the Bonfires: (December 24) Join in as the bonfires are lit across the levees to lead Papa Noel into Louisiana for Christmas Eve. Learn More Here

Posted in In the News, News
Dec. 3, 2019

The MBell Team Grows Again!

Welcome to the team Mike Medof! We are excited to have you as part of the MBell Team!

Mike Medof's Profile

Posted in In the News, News
Nov. 21, 2019

Mirambell Realty Awarded by BUILD Magazine

BUILD Magazine is a quarterly digital international publication dedicated to the construction and property markets. The publication each quarter provides readers with news and updates from around on the world on constructions, properties, real estate markets, architecture and design.

Each year the magazine recognizes the world's best in construction, design, and real estate experts. Mirambell Realty is proud to announce that we have been selected as a Leading Specialists in Real Estate Transactions. We are honored to receive this prestigious award and to be included amongst the other great recipients of the BUILD Real Estate and Property Award winners of 2019.

Award recipients were selected based on the company's dedication to their clients and their expertise of their field. We are humble by such a great award and this honor would not have been possible without the amazing team of agents, associate brokers, and staff that we have here at Mirambell Realty. Even more so, it truly is our incredible clients that have entrusted us with helping them find and sell homes across the New Orleans metro that has made this honor possible.

Thank you to the incredible clients that have supported Mirambell Realty agents over the last 12 years and the wonderful people that make up this MBell Team.

BUILD Magazine Press Release

MIrambell Realty BUILD Award

Posted in In the News, News
Nov. 19, 2019

Technology Trends in Real Estate

Craig Mirambell, owner and broker of Mirambell Realty was quoted in a recent City Business article discussing the growing trend of technology use in the real estate industry. Craig explained how here at Mirambell Realty we moved ahead of the trend by implementing three-dimensional virtual tours into all of our home sales years ago.

Utilizing technology is a growing trend in all industry, but is providing to be especially helpful in the real estate industry as it provide home buyers a chance to see the home in a unique way prior to physically coming out to the home and it helps differentiate the home seller in the market.

Mirambell Realty also moved toward showcasing homes in their best light and quality by using professional photography for all listings and training agents to avoid using cellphones to take home photos. This use of technology not only makes the home look better, it helps it sell quicker and helps it stand out in the market.

Mirambell Realty has also begun to utilize drone videos of large and luxury homes to truly capture the quality of the high end listings and larger home sites.

The use of new trends in technology support the other forms of marketing and staging to help the homes that Mirambell Realty list to sell and helps to showcase them in their best form.

Take a look at the article below:

Link to the article: New Orleans City Business

Posted in In the News, News
Nov. 1, 2019

Mirambell Realty Is An Official Toys for Tots Collection Site

Mirambell Realty is proud to announce that our office at 500 Clearview Parkway, Metairie, LA 70001 is an official collection site for the Toys for Tots program.

We will be collecting toys from today through December 13, 2019 at our office. We will be here to receive the toys Monday through Friday from 9am to 5pm. However, should you come after hours or if we have stepped away from the office during normal working hours will have a container placed outside for you to leave your toys.

Please donate new, unwrapped toys only. All toys donate will go to help children in need enjoy the magic of the holiday season.

We are excited and proud to be working with great organization.

Please contact our office manager, Christine Sim, at (504) 427-4294 if you have any questions regarding your toy donation.

Posted in In the News, News
Oct. 29, 2019

Specialty Loans for Professionals

Did you know that certain professions are eligible for low or no down payment home loans? 

The following professions qualify for the specialty loans:

  • Medical Resident (Educational License)
  • Medical Doctor (MD)
  • Doctor of Dental surgery (DDS)
  • Doctor of Dental Medicine (DMD)
  • Doctor of Optometry (OD)
  • Doctor of Ophthalmology (MD)
  • Doctor of Pediatric Medicine (DPM)
  • Doctor of Osteopathy (DO)
  • Certified Public Accountant
  • Attorney
  • Nurser Anesthetist
  • Nurse Practitioner
  • Clinical Nurse Specialist
  • ATP Pilots
  • Veterinarian
  • Registered Nurse

The professional loan program with Flagstar Bank offers 0% down up to $850,000 and 5% down up to $1,000,000 and 10% down up to $1,500,000. The program also offers no mortgage insurance requirement. For the professional home loan program the home purchased must be a owner occupied single family residence or a Fannie Mae Warrantable Condo. The program also allows for seller paid closing costs to cover part of the closing costs and prepaid items (this allows for you to bring almost nothing to closing!). To qualify for the program the borrower must open a checking account with Flagstar Bank, but no money is required to be deposited. At least one of the borrowers on the loan must be a first time home buyer (meaning that they have not owned a home in the last 3 years) and there is no minimum income limits on the program.

To learn more about this professional loan program from Flagstar Bank please contact Ryan Rouhana, loan advisor, at (504) 214-8925 or at rrouhana@flagstarretail.com

Posted in In the News, News
Oct. 28, 2019

10 Year New Orleans Metro Housing Market Forecast

We have officially entered into the last quarter of the year. Not only is it the last quarter of the year it is also the last quarter of this decade. This revelation has prompted us to take the time to look back over this past decade and see how the housing market of the New Orleans Metro has grown and changed from 2010 to now.

 

When this decade began as a nation we were crawling out of the greatest recession of our time, and here in Louisiana we were still rebuilding from the devastation of Katrina. Throughout this last decade there has been talk of the rising home prices and booming real estate market. But let's take a deep look at how this market has changed and where it is likely to go.

 

Economically speaking the nation has seen the longest period of GDP expansion in recent history. From June 2009 to September of 2019 the GDP has grown continually, however it should be noted that growth is not continuing to grow as rapidly, it peaked in 2018 with 2.9% growth rate. Consumer confidence in the markets remains high and is continuing to grow. Job growth as well , has continued to increase, adding 21 million jobs since 2010. Also, it should be noted, unemployment is reaching all time lows at 3.7%. In Louisiana we have seen a 3% job growth over this past two decades, while it is significantly lower than the national average of 13% it is still positive growth and statewide we have seen a continual increase in average weekly earnings since 2000. The positive economic growth coupled with the mortgage rates hitting all time lows has created for a strongly positive housing market throughout Louisiana. Specially for the regions and areas represented by New Orleans Metropolitan Association of Realtors (NOMAR) agents.

Each month at Mirambell Realty we release via our social media outlets the monthly statistics from the housing market’s data from the past month. These statistics are gathered from public record data supplied by the Gulf South Real Estate Information Network (GSREIN). We present the average number of days a home was on the market (DOM), the average sold price of homes, and the number of homes sold. This information is complied of data from the ten parishes which agents in the New Orleans Metropolitan Association of Realtors (NOMAR) represent, which includes Jefferson Parish, Orleans Parish, St. Charles Parish, St. Bernard Parish, St. Tammany Parish, Plaquemines Parish, Tangipahoa Parish, St. James Parish, St. John Parish, and Washington Parish. We have taken this information and complied the data of the last ten years to present a detailed look at the past decade’s changes to the housing markets. 

 

Looking at the ten parishes as a whole we can see that there was a steady increase in average price over the decade. Currently this year is projected to end with that increase continuing and it is projected to continue going into the foreseeable future. Adjusting for inflation, at a 1.82% average inflation rate, the average price of homes sold rose just over $30,000 in ten years. The number of homes sold has seen a large increase in the early part of the decade and steading out of the number of homes sold in the latter half of the decade. This year is projected to be on par with last years number of homes sold, if not just slightly under it. The average DOM has decreased by half in the last decade. The early part of the decade held strong around 90+ range for average DOM but began a steady decline in 2013/2014. This year is projected to have a very minimal drop in average DOM from the previous year.

 

In Jefferson Parish the average DOM has been cut in half since 2010 and adjusting for inflation the average price homes have sold for has risen over $35,000 in the last ten years and is projected to continue to rise. In Orleans Parish the average DOM has had a more steady decline currently averaging at 61 days on the market, but is projected to take a further decline in the foreseeable future. The average price that homes sold for has had the most significant increase, when adjusted for inflation the average price homes sold for has risen just short of $70,000 since 2010 and is projected to continue to grow but not as rapidly. St. Charles Parish has seen the most dramatic decrease in average DOM, the current average days on the market is running at only 34 days which is only 1/3 of the average DOM in 2010. Also, to be noted is that given an adjustment for inflation, the average sale price only rose $7,000 in 10 years, with that modest increase in average sale price only being during this most recent year. If you combine that with the recent rapid decline in DOM and the previous year’s spike in number of homes sold it shows a market ripe for expansion.

 

St. Bernard Parish has also seen a large decrease in average DOM, cutting almost in half since 2010 and when adjusted for inflation the average sale price has increased just short of $60,000. The average home sale price is also significantly lower than the surrounding parishes making this a great market for first time home buyers. St. Tammany Parish has had only a small decrease in average DOM since 2010 and home prices have only risen $12,000, given inflation, since 2010. The number of homes sold has risen significantly over the last ten years but peaked in 2018 and will level out going forward. 

Taking inflation into account the average sale price in Plaquemines Parish has increased $28,000 in the last ten years, it is expected to only show minimal increases in sale price going forward. In Tangipahoa Parish, the quantity of homes sold is rapidly increasing, but the average price has held extremely steadily over the last decade, only rising, if inflation is taken into account, a modest $6,000 since 2010.  In St. James Parish the average sold price of homes has only risen just shy of $8,000, given inflation, since 2010. St. John Parish is the only parish that if taking inflation into account saw a loss in average sold prices. During the last decade St. John Parish’s average sold prices fell around $8,000, but the average DOM is showing signs of a strong decline, currently at almost half of the average DOM in 2010 and the number of homes sold has risen greatly. The number of homes sold peaked in 2015 but is still significantly higher than 2010. Lastly, in Washington Parish the average sold price of homes increased, given inflation, by almost $14,000 since 2010.

This positive trends of the housing market in our area coupled with the decreases in the foreclosures and delinquencies of mortgages, the decreases in mortgage rates, the increase in mortgage applications, and the rising wages shows that the New Orleans Metro housing market has been strong for the last ten years, it will continue to be strong going into the next decade.

 

 

*Data supplied by Gulf South Real Estate Information Network (GSREIN)

*Economic Data, Graphs, and Information form “Economic & Real Estate Market Outlook” by Lawrence Yun, Ph.D., 10/2/2019

*Analytic work done by Mirambell Realty Office Manger, Christine Sim; University of Louisiana, MBA Candidate 

Posted in In the News, News