by Middleton O’Malley

What’s driving the demand for Uptown real estate? 

• The growth in real estate value in greater New Orleans has been fueled by tech business, tourism, manufacturing, hospitals, building trades, shipping, and, importantly, by the people streaming into the city who simply want to live here. New Orleans, after the shattering experience of Hurricane Katrina and subsequent city-wide redemption, is a very cool place to hang your hat.  The people coming here to support various industries is causing a steady escalation of rents and home prices in all demand neighborhoods, but nowhere more profoundly than in Uptown.

Why is this happening 

• Among affluent younger (sub 50) buyers, especially those with families, Uptown has attained a status that exceeds the Garden District.
• Why? There’s more going on because it offers a village-like atmosphere with max amenities.
• According to one recent report about Bywater, the ratio of adults to kids is very low, causing a shorter neighborhood life span. By contrast, Uptown New Orleans has many families with kids which gives it greater stability and a longer growth curve. This means an investment in Uptown has a longer future.
• Living in any city demands good street smarts, but statistically, Uptown is relatively safe and most Uptown neighborhoods have neighborhood funded security patrols.
• Uptown offers top-shelf restaurants, Audubon Park, banks, stores of all kinds, surface transportation, and easy access to hospitals and good schools.
• Many areas in Uptown have favorable flood zones to reduce insurance costs.

* The value area that offers almost all of what Uptown has to offer but at a lower price, is the University Carrollton section of Uptown.  

Buying A Home In Uptown?   What buyers in demand areas need to do to be competitive 

• For well located, good quality homes in the 500K-800K range, expect to pay 97-98% of list price, minimum.  Our negotiating skills will help you.
• Similar homes in premium locations in excellent condition command list price, and more.
• Many buyers are willing to do almost anything for a great home in a first class location, so unless it’s absolutely necessary, avoid any demands or requests that might be challenging to a seller. We will help you write a clean and uncomplicated contract.
• Unless the house you need to sell first is going to an act of sale soon, avoid any kind of contingency offer, because sellers will probably not give it good, if any, consideration.
• If you really want a great house in a highly competitive sections of Uptown, (after careful consideration of comps and other factors), offering more than list price is not out of the question.  Buyers who make an all cash full price offer, and those who, if possible, waive an appraisal, have an advantage. (Waiving inspections is not advised but that does happen as well).  Our experience will help you make the plan that works best for you
• If not able to pay cash, offer a quick close, a limit on inspection requests, always have a copy of your mortgage pre-approval letter, and a copy of your deposit check to include with the offer.
• Avoid getting too demanding with your inspection response or asking the seller to pay for a home warranty, pre-paids, or closing costs.There’s been a modest softening of Uptown prices, and the number of homes that have had price reductions has increased.  But those price reductions are due to some sellers ardent hope that the nearly vertical, price growth curve from 2013 to mid 2015 is still there. That luxury has diminished, and artificially high asking prices in a market that has stabilized causes price reductions.  While this is a statistical fact, well staged, well located homes in excellent condition still sell in record time, and for all the money.

Tip: Overpricing a home generally results in getting less at sale than if it had been priced correctly in the first place.

A final comment…Over a dinner with a prominent New Orleans real estate agent, we discussed the increase in Uptown real estate prices.  His prediction… “Uptown price escalation will see no immediate end and ultimately, prices will approach NYC-like numbers”. Another prominent broker for one of the largest agencies in the city shares his opinion. While it is true that price escalation has tapered off to a duller roar compared to prior meteoric increases, high demand continues, prices are stable, and inventory remains relatively low.

Along with our associates, we are able to help you get the best deal, and make every effort to insure that you get the house you want in any section of the city.  If you lose a house, it means someone else has won. We are here to help you win.

Mary Margaret Kean, Realtor

504-330-0374

mmknola@gmail.com

Middleton O’Malley, Realtor

504-579-4717

SRES (55+ Specialist), GREEN (Sustainable Building Practices),

ABR (Accredited Buyers Rep), GRI (Graduate Realtor Institute)

middleton@amnola.com

Coldwell Banker, TEC Realtors

​​504-899-4040

4500 Magazine St., Suite 2

New Orleans, LA  70115 USA

Re/Max Jaret & Cohn

207-596-0352

25 Park St.

Rockland, ME 04841 USA

licensed in Louisiana & Maine

by Middleton O’Malley

Uptown University/Carrollton

As bounded by Claiborne Ave., St. Charles Avenue, Broadway, and Carrollton Ave.

U/C is home to some of the best values in Uptown real estate, bar none. Much like the more expensive sections of Uptown, for example, inside of Magazine, Tchoupitoulas, Jefferson, and the Audubon zoo, University/Carrollton has very pretty homes, tree lined streets, proximity to Audubon Park, numerable amenities and restaurants, good schools, and if you’re close enough to Carrollton Ave., you have quick access to the streetcar that glides down a lovely tree lined street with substantial residences. Very nice indeed.

For those looking for a high quality house priced at something less than what might be paid for the same home in higher demand sections of Uptown, University Carrollton is perfect.

We are very high on this area, and have sold numerous homes for our clients, and helped others buy a great value.

Buying or selling…We highly recommend that you contact us about University/Carrollton, an exceptional section of the city.

PS: (The west side of Carrollton Avenue, from the River Bend to Claiborne, has been improving greatly and buyers looking for even greater value do not want to neglect looking at this area.)

Mary Margaret Kean, Realtor

504-330-0374

mmknola@gmail.com

Middleton O’Malley, Realtor

504-579-4717

SRES (55+ Specialist), GREEN (Sustainable Building Practices),

ABR (Accredited Buyers Rep), GRI (Graduate Realtor Institute)

middleton@amnola.com

Coldwell Banker, TEC Realtors

​​504-899-4040

4500 Magazine St., Suite 2

New Orleans, LA  70115 USA

Re/Max Jaret & Cohn

207-596-0352

25 Park St.

Rockland, ME 04841 USA

licensed in Louisiana & Maine

There are many reasons that prevent people from achieving goal #1 on the hierarchy of human needs, safe shelter. In addition to the challenges of finance, and finding the right home, determining the relative safety of a neighborhood is seriously important, yet not frequently enough addressed. 

How would you feel, after spending a lot of money to buy or rent a home, if you discovered that you had to look both right and left, and then listen for the sounds of danger before you stepped outside your door, at night, just to put out the trash? That question doesn’t frequently enter the minds of younger buyers, but to anyone with a family, or a greater sense of self-preservation, its position on their list of wants and needs holds a much greater importance. But this is a personal decision.

Real estate agents are prohibited from answering specific questions about the relative safety, or social makeup of any neighborhood. But it’s also one of the questions that get swept under the carpet in too many real estate transactions. Point of fact: it is up to the buyer or renter to determine what constitutes an acceptable level of safety. That information can be found in on-line police crime reports, and on a more personal level, and sometimes just as effective, from conversations with potential neighbors who know the local community. It is also recommended that you take a drive through the neighborhood during both the day and night time.

Personal safety, and the effectiveness of local police in the greater New Orleans area differs dramatically from parish to parish, town to town, and neighborhood to neighborhood. It affects the quality of life, one’s sense of well being, and the value of any property. Before you buy or rent, consider looking into the relative safety of any neighborhood in which you’d like to reside, and then make your decision.

by Middleton O’Malley

The New Orleans Levee Board, in a project that began in the 1920’s, and was completed in the 1930’s, created Lake Vista, Lakeview, Lake Oaks, and Lake Terrace, all from landfill dredged from Lake Pontchartrain. The protective sea wall that guards all four locations was built at the same time. This area is also known as Lakefront, and was once home to a military installation, now the UNO campus, the famous Higgins Boat works that made landing craft (LST’s), and PT Boats during WW2, and a well loved recreational area, the Pontchartrain Beach Park Amusement Park that closed in the 1980’s.

Large scale building of homes did not start until after WW2 but once completed the collective result was to have created an amazing array of good looking mid century modern homes, some of which have been used in movies. Like most major cities of the era, New Orleans was spreading out, becoming less urban and more suburban. Along with this significant architectural achievement, the migration of families to the Lakefront, and other areas like Kenner, and Metairie, drastically impacted neighborhoods within the city.  This condition is only now being reversed by the increasing desire of Americans of all ages, all across the USA, to live in a city.

Lakeview was the most damaged Lakefront neighborhood during 2005’s Hurricane Katrina. Much of the other areas, built on elevated landfill, remained remarkably unscathed. Now, with greatly improved levees, drainage systems, and pumping stations, this area’s flood risk has been significantly reduced.

As time goes on, many of these particularly attractive mid-century homes have been renovated or remodeled, and they are delightful. In some cases they’ve been torn down and replaced by homes of a more modern design and usually larger size. Lakefront is not designated, (at this time), as an historic area, but it might be something to consider.

Living in any of these Lakefront locations offers a real sense of open space, good looking walkable neighborhoods with tree lined streets and well cared for homes, perceived safety, parks and immediate access to outdoor activities, good restaurants, as well as stores and small businesses of all kinds. In short, it’s a very pleasant and relaxed place to live. And, it’s only minutes from downtown New Orleans.

Middleton O’Malley, Realtor

504-579-4717

SRES (55+ Specialist), GREEN (Sustainable Building Practices),

ABR (Accredited Buyers Rep), GRI (Graduate Realtor Institute)

middie@nolamiddie.com

Coldwell Banker, TEC Realtors

​​504-899-4040

4500 Magazine St., Suite 2

New Orleans, LA  70115 USA

licensed in Louisiana & Maine

by Middleton O’Malley

New Orleans is a city of neighborhoods, each with a distinct flavor and character. They’re like art, a totally subjective experience that appeals to what you know about yourself, what you like, and how you visualize life.

The name Bywater may have come from the old “Bywater” telephone exchange coincidental to the area also known as the Upper 9^th Ward. Others say it came from a High School student who won a late 1940’s contest to name the area. Bywater has boundaries that run roughly from the railroad tracks next to Press Street, to Poland Avenue, and then from the Mississippi, to St. Claude Avenue.  As The French Quarter became too expensive for the creative types, hipsters, and fans of alternative lifestyles, the next push was into the Marigny Triangle, followed by further expansion across Esplanade Avenue and into the Marigny itself.  Once those areas became too expensive, it was Forward, Ho! into the adjoining Bywater where cheap rents and low cost home ownership were exactly what the doctor ordered.

Both the Marigny and Bywater were once home to a thriving blue-collar community with roots in Germany, France, and Italy. One has only to look at the number of paved over streetcar tracks, (including Desire), beautiful architecture, and substantial churches, to understand just how thriving and prosperous it was. As with many city neighborhoods, that prosperity was followed by an exodus to the suburbs and a period of decline. To say that things have once again changed in the Marigny, and Bywater, is an understatement.

On a rainy Saturday afternoon in the winter of 2007 I found myself with nothing to do. Instead of wasting time watching the tube, I took a ride down yonder to see what all the fuss was about. A real estate friend of mine was kind enough to “show me around” and we looked at  about six homes.  This experience revealed that Bywater was my true vision of New Orleans; artsy, funky, edgy, and a pleasantly imaginative contrast to where I lived. My creative side was magnetized and I have long admired this exceptionally interesting neighborhood.

Fast forward to late 2009, and early 2010. I was representing a delightful young professional couple; who expressed a big interest in The Marigny Triangle, The Marigny, and Bywater. At that time, there were numerous homes to choose from, and after looking at a good number of them they bought a lovely home in the Marigny Triangle. But in the process of showing them homes in all three areas I reconfirmed my affection for Bywater.

Roll the tape ahead to 2015. Much to the very understandable consternation of some Bywater inhabitants, especially those who experienced big rent increases; Bywater had gone through a full tilt gentrification. There are far fewer homes available for sale, and when they come on the market, they don’t last long.  To others, the changes are most welcome and seen as an improvement in over-all living conditions. Bywater remains, above all, a genuine neighborhood. People know one another; they talk to one another on the sidewalks, in restaurants and café’s; on their door stoops, and in some of the very finest dive bars in the city.

There are many good restaurants, long time favorites like The Country Club, Jack Dempsey’s, Bacchanal, and Bar B Que Valhala, The Joint, come to mind. And new eateries are popping up all the time.  Bywater is on the radar of foodies from all across the city, and the absolutely sublime dive bars are too numerous to mention. I will say that Markey’s and BJ’s have their place in my heart.  But each has its own funky character, and they offer true testimony to why people gather in bars to drink and chat. There’s live music at Bacchanal, and at many other locations, and the Music Box Village, an artist driven non-profit organization, features a wide range of critically acclaimed artistic projects.

If you are trying to avoid boredom, think about buying a cool home in Bywater, a neighborhood that is to New Orleans what portions of Greenwich Village is to NYC.  You can reap the rewards of living in one of New Orleans’ most interesting and entertaining neighborhoods, while enjoying your escalating property value in this desirable area.

We love Bywater, and The Marigny too.  Need an agent who really knows these areas to help you buy or sell?  We are at your service.

O’Malley & Associates

Middleton & Wanda O’Malley

504-579-4717

SRES (55+ Specialist), GREEN (Sustainable Building Practices),

ABR (Accredited Buyers Rep), GRI (Graduate Realtor Institute)

middie@nolamiddie.com

Coldwell Banker TEC 

​​504-899-4040

4500 Magazine St., Suite 2

New Orleans, LA  70115 USA

licensed in Louisiana & Maine

Greater New Orleans has numerous smallish sections that have big amenities.  Some are more expensive than others, but all are excellent places to live.

Uptown New Orleans. Sold $765,000 Sept. 2019

#1. A certain section of Uptown New Orleans. The perfectly located area from the river side of Magazine St. to Tchoupitoulas, and Jefferson to Broadway is where you will find a great small town with every amenity.   Could be best in the city limits.  Architecturally gorgeous and prestigious, it has social and gastronomic advantages.  Walk to Audubon Park, several of the best restaurants in town, and Magazine St. with all of its shops, stores, and watering holes. A village within the city with everything at your fingertips.

Harahan, LA. Sold $326,000 Feb. 2020

#2. Harahan, between Jefferson Highway and the levee, and Hickory to the River Ridge border, is an area that many people know nothing about.  But it’s one of the most pleasant environments in greater New Orleans. There’s a very high percentage of home ownership, and it’s an easy 25 min. to downtown N’Awlins. (20 minutes to Clancy’s). Why move to the North Shore? This section of Harahan, located in Jefferson Parish, has real advantages. Lower over-all costs, lower crime, great location, and amazing property values, (if you can find one for sale).  In the next few years there will be a serious turnover in property because of its older demographic. Being only steps to the levee and its bike path gives this area a park like feeling.  Once people get the drift that a home in a safe neighborhood, right next to the bike path, on a nice lot, can be bought for $275K – $375K, and that it’s only two minutes from all of your daily needs, and some good, old timey restaurants to boot, means thing$ are going to happen. Think about what happened in Old Metairie.

Mid City. Sold  $799,000 Sept. 2020

#3. Mid-City, all around City Park,  the Triangle, down either side of Esplanade, and either side of Bayou St. John,  is one of the best locations in the city, and demand is expanding the borders of its more expensive areas. Charming, gorgeous architecture, and increasing in price, it has a real New Orleans feel, and lots of interesting people. It’s prices rival Uptown. It’s a delightful part of the city, and it’s a straight shot down Esplanade, through Treme, and into the Quarter.  There’s restaurants, grocery stores, the Museum of Art & Sculpture Garden, City Park, great architecture, a fabulous cemetery, Bayou St. John, and some serious characters who live there, all making it a highly desirable location..

Holy Cross. Sold $273,000 Nov. 2020

#4. Holy Cross. Cool and a younger social mix, interesting history, lots of cute architecture, an arts theater, an arts center, eclectic citizenry , a new Canseco’s grocery store, more trees and bigger lots than Bywater & Marigny, a quick trip to downtown, and, it has affordable housing. Nice homes can be bought between $200-300K.  A very funky and cool mix makes you feel its easy vibe, and very much at home.

Looking for a home in greater New Orleans?  Give me a call and we’ll locate the right home, in the right location…and, at the right price.

Middleton O’Malley

ABR, GRI, GREEN, SRES

504-579-4717