Why House Hunters Will Be Ready To Buy In The Next Six Months

 According to a survey done by Realtor.com, 46% of potential house buyers said they were planning on purchasing a home within the next six months. This study looked at those who accessed listings and search results of homes on the site. The survey justifies that although we look like we are in a recession and the 30-year fixed mortgage rate is close to 6%, this is not detouring buyers in the market. This share of buyers reported is actually higher than reported in 2019 even with mortgage rates reaching the highest level since 2008 and home prices increasing.

Many potential home buyers are looking at the market as an advantage. Rising inventory levels are bringing more options for buyers to find a home within their budget. It is reported that two in five buyers feel that the U.S. economy is already in a recession but it will have no effect on their decision to purchase a home in the near future. Close to 27% of home buyers are more likely to purchase while the economy is in a recession. This figure is up 24% from what was reported in 2021 although there are many potential home buyers that are scared of the current market. In fact, the share of buyers who say they are more than likely not going to purchase a home during a recession rose from 5% to 6.5% this year.

The housing market is definitely tipping the scale from a sellers’ market over to a buyers’ market. Those in the industry said there are fewer buyers who are being outbid going from 12.6% to 9.4% from this spring to summer. The share of buyers who report being overbid on a home has decreased as the market has begun to correct itself

Even though there are home buyers who are willing to purchase in an uncertain economic time, it is still a sellers’ market. Twelve percent of first-time homebuyers are still being outbid in today’s market. Two in five first-time home buyers are also having a hard time finding a home within their budget. Currently, the median price of homes in the U.S. was $435,0000 according to Reatlor.com. This summer was at an all-time high of $450,000! Twenty percent of first-time homebuyers also said they are having a hard time buying because of their credit score.

If you are a first-time homebuyer or in the market to purchase a home, you will want to work with a local real estate agent who can help you navigate these uncertain waters. A local agent can help you find a home in your price range in your desired area.

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Gentilly Festival Will Be Held At Pontchartrain Park

 The Gentilly Festival is a three-day event full of music, art and food with  three stages located in Pontchartrain Park.   The festival is a free event that will run on Friday from 6pm – 9pm and on Saturday and Sunday from noon – 8pm.  The festival will be located at the playground at Press and Prentiss Drives.

This fall-filled New Orleans festival will also raise funds to support first responders and nonprofits that serve the Gentilly community.  “It’s going to be really exciting. We’re keeping our flavor, our flair of the community. We’re trying to unify and reunite the neighbors post-pandemic,” says chair and organizer of the festival Gretchen Bradford.

This year there will be over 25 food vendors and an eclectic range of entertainment.  There will be restaurants, caterers and food vendors from the area serving up their dishes at this year’s festival.  Many local caterers that are starting a business will introduce themselves through the festival. There will also  be veteran Gentilly food fest vendors that will also provide delicious assortments.  “We’ve got a little Latin, a little hip hop, brass, funk……….We got a little bit of that New Orleans bounce. We can touch many different audiences,” says Bradford.

The festival is a great event for the whole family.  This year there will be a Kids’ Village which will include pony rides, an entertainment stage, pottery making, face painting and more crafts.  For the adults, there will be tons of local organizations which will provide services and tell about what they have to offer for Gentilly residents, and for an additional charge a VIP Champagne Experience.

The Gentilly Festival is not just for locals, as the festival also attracts tourists and those who used to live in Gentilly and are back to visit for the event.  The festival will kick off with “Jazz Under the Stars” with live music and DJ’s.  Performers include Brian Quezergue Quartet, Indys Blu, Quiana Lynell and DJ Juane Jordan.

This is a fun time for Gentilly and all of New Orleans.  “We promote happiness,” says Bradford.

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The Battle of the Bike Lane

 The bike lanes along Newton Street between Elmira and Behrman in Algiers are the battleground for many cyclists and residents. Several months ago District C Council member Freddie King wanted the city to reevaluate their position on the protected bike lanes in Algier due to neighborhood disagreements regarding the lanes.

Since the situation was brought to the city’s attention, minimum changes have occurred. The city has removed dozens of the flex posts and the ones that remain have been shifted closer to the bike lane. They said this should help with parking on the street and alleviate residents’ concerns that the flex posts could obstruct emergency vehicles from getting by.

Residents are still up in arms about the protected lanes while cycling advocates are afraid of what might happen if the lanes are removed. King suggested the city remove over 2 miles of protected bike lanes located on MacArthur Boulevard and Newton Street. If this passes and goes through, this will be a downfall for the citywide bike plan created by Mayor LaToya Contrell.

West bank residents voted for King over Kristin Gisleson Palmer when he said he would advocate the removal of the paths. Residents wanted to be heard and felt that the city did not survey enough residents regarding the installation of the bike lanes in Algiers. The city has defended its actions but does admit that it did not do enough outreach to the residents of Algiers.

“We did have a number of meetings in Algiers. Obviously we needed to have more,” said Sarah Porteuos, a city infrastructure spokesperson.

As of now, the cyclists’ lanes on MacArthur and Newton include plastic posts guarding the separate lanes and parking spaces closer to the main travel lane than the curb. Automobiles will be the second line of defense for cyclists. Those who are for the lanes say that the protected lanes not only increase the safety of cyclists but motorists as well.

Research has shown that cyclists’ lanes reduce accidents for drivers, pedestrians, and cyclists. Around the city, around 30 of the 75 planned miles already have cyclists’ lanes installed. According to city officials, there were 327 crashes involving cyclists between 2014 and 2018 on MacArthur Blvd before the cyclist’s lanes were installed.

“Please do not remove protected bike lanes, said Corinna Chaney, a resident who wrote to the City Council. ” This critical infrastructure is saving lives, drivers included. We should be slowing down traffic not tearing up what little safety we have here.”

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A Rise In The Number of Women In Construction

 In 2020 the Bureau of Labor Statistics reported 10.9% of the construction workforce were women. The number has since risen to 11% reported last year by the Bureau but only 4% of these workers are involved in skilled trades. Most of the women in the industry are in office and administrative positions.

The National Association of Home Builders’ Professional Women in Building (PWB) Week is coming up. This is an annual event that celebrates women in the residential construction industry. This is a time when the work done in the industry is highlighted as well as the good-paying careers that are available. There is a shortage overall of skilled trade workers in the industry and Tradeswoman Tuesday is the perfect time to reflect on this.

September 13, 2022, there will be an online webinar that can be joined for free. Leading tradeswomen will discuss how women can successfully be a part of the construction industry. They will discuss women in the industry and ideas on how to attract more women to the industry. Kristi Allen, UTAH PWB member and owner of Woodcastle Homes will be the moderator. Joining Allen will be Merideth Balmforth, a master electrician and Katy Higgins an experienced HVAC professional.

There will also be a PWB Week Toolkit which will have other activities to do throughout the day. One of these activities is reading The House that She Built book to children. This book was written and based on real-life tradeswomen that are featured in the webinar. The home she built is in Utah and is the home the book is based on.

“Now is the perfect time for women to explore the construction industry. There is a need for the unique talents and dedication that women bring to any field – including strategies for working smarter, not harder, and for giving their all to whatever they set their minds to. The demand for women in residential construction and service has also never been greater, and the opportunities are there to enter a career that promises great quality of life, earning a good living, having value in the work you do and pride in being a builder and contributor, ” said Balmforth.

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