Common Reasons To Sell Your Home

 “No matter what interest rates and home prices do next, sometimes homeowners just have to move—due to a new job, new baby, divorce, death, or some other major life change,” from Realtor.com. A life change is a big reason for you to sell your home. It is not the ideal time or market but sometimes that just doesn’t matter. Here are several reasons why now would be a good time to sell your home.

Relocation

There are many different things to cause you to have to relocate. They include a job change, needing to be closer to loved ones, or just needing a change of scenery.

Upgrading

You have an addition to your family, or you might just want a larger home. During the pandemic, stay-at-home orders made outdoor living spaces, home offices and home gyms more important spaces. An upgrade could be a move to another home so you have one or all of these features.

Downsizing

If you are soon to become an empty nester, then you might need to downsize. If you have too much space and not all of it is being used, then it probably would be a good move.

Change in Relationship Status

This is not a fun event but it does happen. Divorce, separation or on the brighter side marriage can push someone to sell their home.

Health Concerns

If something changes such as a homeowner that is now immobile, might need to change their living space to accommodate.

Remember selling your home and figuring out the right time to sell your home is a personal choice. “Deciding whether it’s the right time to sell your home is a very personal choice. There are numerous important questions to consider, both financial and lifestyle-based, before putting your home on the market,” says Bankrate.

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LNG's Plaquemines Site Phase Two Approved

 The decision to proceed with the second phase of the Plaquemines LNG export plant comes after the parent company, Venture Global LNG, now has $7.8 billion for the project. This is part of the $21 billion funding for the Plaquemines project.

The Plaquemines project is located on the Gulf of Mexico off the coast of Louisiana. The actual building will be built on the west bank of the Mississippi River. The project also includes the Gator Express pipeline. This is a two-pipeline project that is connected to the existing natural gas pipeline that delivers natural gas to the site.

The facility will house a liquefaction plant with 18 integrated single-mixed refrigerant (SMR) blocks, four 200,000m³ LNG storage tanks, three LNG loading docks, and air-cooled power generation facilities. It will comprise six pre-treatment facilities, with three in each phase.  Again this project will also be built in two phases. Each phase will take up nine blocks that will include liquefaction units and support facilities.

The plan is to open phase one in 2024 and phase two in 2025. The total project will create 250 new direct jobs, 728 indirect jobs and 2,200 construction jobs (during the project’s building). Phase two customers will include Exxon Mobil (XOM.N), Chevron (CVX.N), EnBW Energie Baden Wuerttemberg (EBKG.DE), New Fortress Energy (NFE.O), PETRONAS, China Gas Holdings (0384.HK) and Excelerate Energy (EE.N).

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The Ins and Outs of a Home Appraisal

 A home appraisal is a big part of the home-buying process. Having a better understanding will allow you to better negotiate and avoid the stumbling blocks. A home purchase is a financial obligation but it also is a very emotional decision. When it comes to the appraisal of your home, this is what the mortgage lenders will be most concerned about.

A home appraiser is a middle man literally speaking. An appraiser will always be your neutral opinion. In order for you to obtain a mortgage, your home must pass an appraisal. An appraisal is an assessment of the property’s value by an unbiased third party.

The unbiased third party is known as the appraiser who is state-licensed or certified. They will look at the home as a neutral party taking into consideration the home’s location, age, condition, additions or renovations and recent sales of comparable homes.

When you are in the midst of your home purchase, you the buyer will be the one who is responsible for paying for the appraisal. The appraisal fee is usually bundled in with your closing costs. A typical fee would be anywhere from $330 and $440. The cost will depend on the home’s square footage and if it has an unusual floor plan.

Once the appraiser completes the appraisal, they will present you with a report. The report will give an analysis of the property and data on comparable homes. Once your appraisal goes to you and your lender. If the appraisal matches the value of the price you and the seller agreed upon, then your loan will go to process. If the appraisal comes in higher, then you gain immediate equity. If the appraisal comes in lower, you will have to come up with the difference between what the lender will lend you and the amount you agreed upon with the seller.

Remember going at this alone is very stressful. Go with a local sales agent who can help you with the homebuying process from start to finish. A local agent will also be a great source for the perfect lender for your needs.

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Shell Corporation Moving to the River District

Shell’s corporate, along with the 800 employees, will be moving to the River District. The headquarters is currently located on Poydras Street. The project should be completed by late 2024 or early 2025.

Employees are overjoyed with the decision due to the fact that many energy companies have been moving to Texas. “This is an exciting announcement that further solidifies the long-standing and successful relationship between Louisiana and Shell. This is a significant investment in the city and our state, and I’m grateful to everyone involved in turning this concept into reality,” said Governor John Bel Edwards.

“We have been an integral part of the community and the working coast….and we are committing to stay here with a new building,” said Colette Hirstius, Senior VP of Shell’s Gulf of Mexico location.

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Secrets to Finding a Home in Any Type of Housing Market

 The ever-changing housing market will always keep the buyer and seller guessing. If you are a buyer, it is always nice if the market is a buyer’s market. Even when the market is up, down, or somewhere in between, professionals in the industry have some tips on how to buy a home in any market.

1. Help Your Offer Stand Out

In a seller’s market, there will almost always be multiple offers on the home you are making an offer on. To get ahead of the game, it is a good idea to get pre-qualified for a mortgage. This will give you a rough estimate of how much you can afford. To ensure that you are able to purchase the home you want to make an offer on, get a verified approval letter from your lender. This will let a seller know that you are a serious contender and you can go through with the offer.

2. Partner With an Experienced Agent

A local real estate agent will be able to battle for you in any kind of market. They have extensive knowledge in the local market and can also refer you to a local lender. You can go into a home showing with the knowledge of the comparable property selling prices in the area and an agent can get you into pocket listings. Pocket listings are usually sold privately and are not listed on MLS. Agents also keep up with one another, so your agent can get the scoop and help you make an informed decision on which way to go.

3. Check Out Affordable Alternatives

Your budget might not be in line with your dream home, so you may want to shift your focus. Focus on your must haves and share these with your real estate agent. If you can move into another area that is cheaper, that can also be a way to get the home of your dreams. To check out other areas, use a cost-of-living calculator which can help you compare housing costs, and other factors in different areas.

4. Sweeten Your Offer

You want to get your offer a second glance, so you want it to stand out. You don’t just have to work with the purchase price on a counter offer, you can also negotiate other factors. An example would be if a seller is still shopping for a home, you can rent back their home after you purchase it. This will make your offer more attractive over others.

Remember purchasing a home is a big deal no matter what kind of housing market we are in. Be sure to choose a lender and a real estate agent who will help you with the home buying process from start to finish.

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Jefferson Parish West Bank Might Get A New Movie Production Studio

 The old Celotex building in Marrero might have a new purpose in Jefferson Parish. There are talks that the old eye sore will be revitalized into a movie production studio. The building on Fourth Street has been purchased by Maple Marrero LLC.

The site includes 67 acres with around 400,000 square feet of warehouse space. “We could have one of the biggest movie studios in Louisiana and still have over 200,000 square feet of vacant warehouse space, said partner Andrew Duncan.

Celotex’s Marrero plant opened its doors in the 1920’s and employed over 1,000 workers. The plant remained open until it was damaged by Hurricane Katrina and closed its doors in 2009.

Coincidentally the property has been a set for several films and television projects throughout the years. The Hollywood writers and actors strike has set the plans back.
“As soon as the film and TV industry activates again, the place will become active as a filming location. We can start that in 30 seconds,” replies Duncan.

For the next couple of months, the new owners are going to spruce the landscape on the site. “Like many industrial sites along the river, the Celotex site has fallen into disrepair and been underutilized for a number of years,” Duncan said.

“I’m hopeful that in the next couple of years, that eyesore will no longer be an eyesore and instead will be something that contributes to the economy of Jefferson Parish, ” said Jerry Bologna of JEDCO.

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U.S. Home Builders Beat Expectations for July

 According to data from the Census Bureau home building increased 3.9% in July from June. This stems from the buyers’ interest in new homes since the market is so low on existing home inventory. New home starts bumped up to a seasonally adjusted annual rate of 1.452 million which beat out the expectation from the Census Bureau of 1.448 million.

Single-family homes rose 6.7% in July with a seasonally adjusted annual rate of 983,000. This makes the number of units started up to 5.9% from July of last year.

“Buyers embraced new homes in the first half of this year as a welcome alternative to the massive shortage of existing homes. Homebuilders responded to the rebound in demand by ramping up production in the first five months of 2023 and rolling out incentives. The latest readings show activity skewing noticeably toward the single-family space,” said George Ratiu.

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