Benefits of Tree Coverage for a Home

 What will shade from tree coverage do for your home?

Increase home value
Keep things cool
Decrease utility bills
Reduce UV exposure
Cut carbon emission

Professionals in the industry will agree that trees and shrubs are not just great for a home's curb appeal but also for social, communal, environmental, and economic benefits. It is said that tree coverage makes for a healthy and happy living environment. Here are some benefits of having tree coverage around your home. 

Increase Home Value

Planting trees and shrubs around your home can increase your home's value. Homes with mature trees are more alluring to prospective buyers. In fact, HGTV reported that the home value increases 7 - 19% if there are mature trees surrounding it. The Arborist News did a study that showed there is a 3 - 5% price increase in homes with trees in the front yard, a 6 - 9% price increase when there are a lot of trees in a neighborhood and a 10 - 15% price increase if there are mature trees in a high-income neighborhood. A Michigan University study reports that landscaping will give you a 109% return on your investment!

Keep Things Cool

Summer heat is not only uncomfortable but is also heavy on utility consumption. Trees are a perfect solution. They are not only beautiful to look at but also an effective cooling measure. Urban areas are usually hotter than the surrounding suburban areas. This is due to the lack of trees, grass, and shrubs in the city. Landscaped areas with trees and turf can be 25 degrees cooler than the asphalt area in the same location. The USDA's Forest Service did a study revealing that  a young tree is equivalent to ten room-size air conditioners operating 20 hours a day.

Decrease Utility Bills

This is good for our wallets and the environment. Trees can reduce the temperatures by 6% through shade and adding moisture to the air.  The Center for Urban Forest Research claims that trees planted on the west side of your home can reduce your energy bill costs by 3% over 5 years and 12% within 15 years. Over time, these results can greatly help you make your home more eco-friendly.

Reducing UV Exposure

Shade is your skin's best friend when it comes to reducing bad UV exposure. Skin cancer is the most common form of cancer in the US according to the American Cancer Society. Trees are a natural sunblock that provides a physical barrier between your skin and the sun. A neighborhood that is covered in trees reduces UV exposure in half!

Cut Carbon Emission

The whole world has seen an increase in global CO2. Trees are extremely important when it comes to the earth's carbon emissions. Trees can store over 708 million tons of carbon, in urban areas trees can store an additional 28.2 million tons of carbon and 100 million mature trees around homes can equal up to $2 billion annually in reduced energy costs.

Remember in order for trees to flourish and help the environment, homeowners need to care for trees and the landscaping around their homes. Experts can give trees a checkup to keep them healthy and keep them going from the roots up.

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Rising Home Prices Are Clashing With the Slowdown in Economic Growth

 Are rising home prices a wild card for the Federal Reserve?

According to an article posted by Bloomberg, the high home prices are a hitch in the Federal Reserve's plans for the nation's slowing economy. Many say that this is the worst inflation the country has seen in forty years. The Federal Reserve wants to put a stop to the inflation that is currently hurting our economy.

The change is planned to come around September of this year. The goal is to have its policy rate at a level it considers to be restrictive, putting further downward pressure on prices.

In order for this to happen there are several factors that have to align. The three biggest are the country needs to pay three months of declining core inflation, measured month-over-month, the rate of home price appreciation needs to slow down in market price gauges and energy prices need to stay contained. If this does happen, the Fed will be able to slow the rise in interest rates.

The reason the change will not happen until September or later is that Colin Powell wants to witness a slow down in inflation via several reports. The one thing that will stall this is the housing market. Why? Because housing inflation falls behind market prices by several months.

This means that when market prices slow down, the housing market will continue to rise for several months extending into 2023. The housing market is still going strong because of low invetnory.

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Steps To Take When Buying A House

They say buying a house is part of the American dream. Buying a house is one of life's biggest events. When you are ready to take the leap, here are some steps you need to take.

What to Consider Beforehand

Make sure you are ready to become a homeowner because it is not always the best decision for everyone, renting might be the best way to go for some. There are a ton of responsibilities that come along with owning a home such as regular maintenance, inspections, taxes, and more.

Another thing to consider is the timing factor. Look at the mortgage rates and home prices are they rising or staying the same? If the rates are starting to take a leap, then you might want to move quickly. Also, the time of the season can also determine the best time for you to start your search. Spring is typically when listings hit the market. This means that there will be more options for you to choose from. On the downside, it is the most competitive season for buyers.

The last and most important thing is are your finances in good shape. Only set out to purchase a home if you are financially stable. Remember you will need to set aside savings for a down payment and closing costs. If your credit score could be higher, pay off some of your debt to boost your score.

How to Plan Your Budget

Budgeting is essential when it comes to buying a home. Set a time frame of how long it will take you to build up a good down payment. Once you have this timeframe, research Realtors in your area and find the best fit for you. Keep in mind that it takes around a couple of days to a couple of months to find your ideal home, then around 30 - 60 days to complete the transaction from contract to close.

Along with finding a real estate agent, you will need to find a mortgage lender. The best bet is to shop around for the best rates and offers. This will also depend on your credit score. Having an established credit history and a high credit score can allow you to get a better rate on a mortgage.

To check your score, obtain a credit report from Experian, TransUnion, and Equifax. These three credit bureaus allow a free report every 12 months. Lenders typically require a credit score of 620 or higher to be able to obtain a mortgage. If your score is a little iffy, raise it before you apply for a loan.

In order to raise your credit score you will need to pay your bills on time, pay off debt and keep a low balance on your credit cards, and check for any mistakes on your credit report. Lenders want to know they can depend on you to pay you mortgage payment on time.

If you are not able to raise your score or get it over 620, then there are other financing options available. The Federal Housing Administration (FHA) only requires a score of 500 with a 10% down payment or 580 with a 3.5% down payment.

How Much House Can I Afford

When buying a home, you are not just paying the listing price, there are hidden costs. When budgeting, allow for a down payment, closing costs, moving and maintenance costs, as well as an emergency fund for any unplanned maintenance.

You will need to set aside at least 20% of the price of the home for a downpayment on a conventional mortgage. Closing costs are another thing you will need to pay out of pocket which can be between 2% and 5% of the home's purchase price. Remember to always factor in closing costs to your budget! You will also need to pay to move and make any necessary repairs before moving in.

Along with your monthly mortgage payment, you will also have monthly expenses such as utilities, transportation, groceries, entertainment, childcare, credit card debt, savings, etc. A good rule of thumb is for your mortgage payment to be below 28% of your monthly income.

Shopping Around for the Right Everything

When purchasing a house, you not only have to shop around for the right home, but also for a Realtor and a mortgage lender. Doing your due diligence on both can save you time, money, and heartache.

There are many lenders out there who offer different rates and terms. Shop around for the best lender who offers better products. There are several different types of loans with different qualifications. A lender can help you choose the right one for you and also get you pre-approved.

A pre-approval letter can sometimes be the golden ticket for the seller. This tells the seller that you are a serious buyer and you have the finances to back it up. In order to get a pre-approval letter, your lender will need to verify your finances and check your credit score.

A Realtor is your saving grace through the entire process. When choosing a Realtor, it is always good to get referrals. You want to make sure the agent your are considering has a good reputation and experience. It is a good idea to interview several agents to see if they are a match and would work well with you.

Once you have a lender and a Realtor you need to find your home. An agent can help narrow your search by finding a home that fits most of your needs and wants. Your agent should have an extensive amount of knowledge about the neighborhoods you are interested in.

Reaching the Finish Line

Once you have found your home, it is time to make an offer. Your Realtor will advise you on the best approach and will negotiate your contract. Once everything is settled such as contingencies, a home inspection, and disclosures, you are ready to close. Remember your Realtor will help you along the way and make sure you get the best deal.

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A Dozen Must Haves For Today's Buyers

By now everyone has reshaped the way they see a home. The COVID pandemic pushed city dwellers to the suburbs and prices took a sharp turn up with the supply and demand. One thing that has not changed is location. Zillow reports that buyers look for a safe neighborhood, walkable neighborhood, close to shopping, short commute to school and work, sense of community, close to friends and family and preferred school district. Here are the top 12 amenities buyers are still looking for.

1. Updated Kitchens and Baths

These two areas of a home are where homeowners spend a lot of time. In a survey conducted by the Metropolitan Regional Information Systems Inc., 81% of those who were surveyed said that updated kitchens and bathrooms were the most important feature in a home. That means that the majority of buyers who are looking for a home will make a decision based on the kitchen and bathroom conditions.

2. Open Floor Plans

Especially after the stay-at-home orders, an open floor plan is a must-have feature. Open floor plans are less confining and are more versatile. Now that we can all get together again, an open floorplan is great for entertaining because it allows for mingling and a great party flow. If a homeowner is still working from home, an open floor plan can allow for a great space to create a temporary workspace.

3. Air Conditioning

Every region in the county has some sort of change of season whether you live in a warm climate or cold climate. Central systems are a great way to keep your home at a comfortable temperature. Air conditioning is a great way to maintain humidity in your home's environment.

4. Energy Efficiency

Over the last several years this has become a very important feature in a home. As they say,  the green movement is here to stay. Buyers are looking for homes with energy-efficient windows, insulation, heating systems or solar panels. These are a few features that can help with not only your energy cost but with the planet as well.

5. Low Maintenance Features

Low maintenance and energy efficiency complement one another. These features keep the cost down on a home, especially for a first-time home buyer who is having a hard enough time coming up with a down payment. Every penny counts!

6. Technology

New York City is a place that is very technically savvy but when it comes to living there, people are moving out because of the poor Wi-Fi connections and good cell service. Buyers are looking for more tech-friendly homes nowadays. A strong dependable Wi-Fi connection and good cell service are a must.

7. Curb Appeal

A buyer's first impression is when they drive up to a home. The wow factor has to be there to catch their attention. A good way to accentuate the curb appeal of your home is to add plants, a new front door, new stonework, a new portico or outdoor lighting. You want to do everything you can to enhance your home from the view of the street.

8. Bringing the Outdoors In

Buyers want to be able to enjoy nature and have outdoor spaces. During the pandemic being stuck at home meant you had to have a space outdoors to be able to get outside every once in a while. Buyers are looking for porches where they can sit and eat or have a cocktail party. Stone patios with outdoor kitchens and outdoor furniture have become very popular.

9. Laundry Rooms

Laundry is always piling up, especially with busy lives. A laundry room is a great addition because you can close the door and hide your dirty laundry so to speak. In this day in age, it is very rare anyone has time to do the laundry every day so a place to store it is a must. A laundry room closer to the bedrooms is a plus.

10. Garage Area That Can Work as Storage

Buyers are always looking for storage space. If you have storage space in the garage, this is a bonus. Houses can get cluttered very quickly so having a place in the garage to store items is a very handy must-have.

11. Walk-In Pantry

Most families buy in bulk at stores such as Bj's or Costco, so they need a place to store the large quantities. Buyers want a walk-in pantry. Even if buyers do not shop in bulk, most do not shop on a weekly basis, so they need a place to stock up.

12. General Suitability

A buyer does not want to walk into a house that has bright pink walls in the bedroom or ugly bold colors in the kitchen. Buyers tend to be attracted to homes with neutral coloring, high ceilings for airflow and lots of natural light.

Every home will not fit all a buyer's wants so you will want to prioritize what is most important. A realtor can help you prioritize and negotiate for you when purchasing a home.

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Colonial Country Club In Harahan Might Turn Into A Residential Development

 A revised agreement will go in front of the Harahan city officials and City Council to redevelop Colonial Country Club into a residential development. In last month's meeting which lasted six and a half hours the revised agreement was drafted from the many amendments.

The golf course has been abandoned since it closed in 2012. The 88-acre site that sits between Jefferson Highway and the river in Harahan, is a nice green space according to many local residents. The redevelopment is not what many neighbors want.

The plan the current developers, Danny McKearan and Wayne Ducote have in mind is to build houses along with a 40-acre internal parcel along Colonial Club Drive, close to the river and on 15-acres along Jefferson Highway. Neighbors are concerned about the construction traffic and drainage problems caused by the construction. Another issue is what will happen to the mature oak trees.

To meet those concerns, a plan was devised to build a street exiting on Jefferson Highway, rather than traffic being routed along Colonial Club Drive.  Construction traffic will also be routed down the new road. A retention pond will be added so there will be no drainage concerns. The lots will be laid out to preserve as many of the mature oak trees as possible.

"That property is a whole lot more interesting to what I envision with every tree," McKearan said.

"I think we've got a better agreement than before the meeting started," Councilman Tommy Budde said. "More than likely this project is going to move forward.

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Algiers Point Sees Plans For A Multi-Use Development

 David Fuselier, a real estate developer, wants to put a multi-use development that will include a grocery store, single-family houses and condominiums on 10 acres in Algiers Point. The property was once home to a local steam locomotives manufacturer.

The 10-acre site, located at 1200 Opelousas Ave, is the biggest undeveloped piece of land on Algiers Point. Unfortunately, contaminants were found on the land from decades of diesel fuel spills but in December 2020 after the issue had been rectified, Louisiana issued a certificate of completion.

In January 2020 Fuselier and his partners his sister, Megan Fuselier Spiehler; Stuart Coleman; and Andrew
Coleman, purchased the land for close to $3.9 million. They plan to begin construction in the Fall of 2021 and is slated to complete in two years. The partners hired architecture firm Concordia and will hold a meeting with the architect firm and the public for input.

If approved by the New Orleans Planning Commission and the City Council, they plan to build a 22,000-square-foot grocery store with a rooftop restaurant and bar. Although they have not signed with any grocery store tenant, they feel optimistic.

“We’ll have one soon,” Fuselier said. “We’re going to be talking to every local and national grocery tenant we can think of. There’s gonna be a lot of effort put into attracting the best that we can find.”

Plans show there will be 24 lots for single-family housing, 24 units for military veterans and 204 condo units for “workforce” housing priced at 60% to 120% of area median income.

“It’s really targeting people who do not qualify for other subsidy programs … but still need housing,” Fuselier said. “A lot of people are priced out of the market, and  we’re looking to bring opportunities for homeownership at affordable price.”

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