Friday, December 31, 2021

St. Tammany Parish School District's Tax Renewed

 St. Tammany Parish voters approved the St. Tammany Parish school district tax to be renewed. The tax renewal will bring $102 million to the school district. Voters were in favor of the four property taxes that total 42.72 mills.

The school district's current budget is close to $453 million. The renewal of the property taxes will cover a big part of the district's budget. The money will be spread between general school operations, employee salaries and student educational programs.

According to St. Tammany schools Superintendent Frank Jabbia, the taxes will go into effect starting in 2023 and will be collected for 10 years. The communities votes were as follows. For the first property tax, 54% of the residents voted yes for the 4.42 mills that would bring in around $10.52 million per year. The second property tax vote was yes for 55% of the residents. This tax is for 32.41 mills and would collect around $77.1 million annually. The third property tax would be at 3.14 mills and would collected around $7.4 million a year which 54% voted yes. The fourth property tax got 53% of the voters approved and will bring in around $6.5 million per year at 2.75 mills.

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Monday, December 27, 2021

2021 Third Quarter Sees A Strong Boost In the Vacation Home Market

 


The NAHB Home Building Geography Index (HBGI) released in December 2021 shows an increase in permits for second homes. The counties in the country with a high ratio of vacation homes have seen a big spike.

“Over the last year, second-home markets have increased their market shares, due to increases in hybrid work arrangements, early retirements and wealth gains in housing and stocks,” said NAHB Chief Economist Robert Dietz.

New construction growth has taken off in the second home market. The growth rate for single-family homes in the second home market was 36.1%, this is a rise compared to the non-second home market average of 23.2%.


In the past year, the housing market for single-family homes has been booming in suburban areas. The report shows that the higher density markets are coming back. This is not the case in the multifamily construction sector. Permits for multifamily projects were higher in smaller cities and rural areas than in larger metropolitan areas.

“As more workers transitioned back to the workplace, there was a rebound for housing production in urban core markets, as well as ongoing growth in exurban areas,” said NAHB Chairman Chuck Fowke. “And while builders are still grappling with affordability headwinds in both small and large markets, this rebound in housing production in some higher density markets where building is more costly highlights the need for policymakers to reduce housing supply barriers that are driving up home prices.”

“Although all geographies are showing construction growth, the suburban shift is less pronounced than we’ve seen in prior quarters as some higher-density markets see a rebound even as exurbs continue to expand,” said NAHB Chief Economist Robert Dietz.

Single-family permit growth data for the third quarter of 2019 and 2020 was 5.6% in large metro communities while it was 12.3% in the suburbs. The current report for the fourth quarter of 2020 and 2021 shows an increase of 21.1% in large metro markets and a 30.8% increase in the suburbs.

For multifamily permits, the 2020 and 2021 data show they fell from 40.5% to 37.9% in higher density markets while they rose from 24.9% to 37.2% in the smaller communities. This is a large shift in this market. Historically, year-to-year changes in multifamily market share are usually slow to develop and rarely move more than one percentage point higher or lower. This makes these latest year-over-year numbers noteworthy.

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Wednesday, December 22, 2021

2022 Kitchen Trends For Your Home

 


The kitchen is the heart of the home and is a very important space. This has become even more prominent since the pandemic. Here are the 2022 kitchen trends the industry is sharing.

1. Sunny Celebration

Bright and open spaces have become very important, especially since homeowners have had to stay indoors during the stay-at-home orders. The new year brings joy and brightness. The color trends for our kitchen are nice yellows, burnt oranges that are set against cool blues and light whites. The contrast will make a room pop.

2. Two-Tone Upgrade

This look was seen at the end of 2021 and seems to be hot in 2022. Two-toned kitchens are in! Even though they contrast in color, the look is streamlined and complementary shards are used.

3. Natural Pink

Nice pastels such as pink have become a trend for the color of the 2022 kitchen. Th pastel shades give a neutral and refreshing look to your space.

4. Sands of Time

This dune-colored palette is sure to make your kitchen look serene. This design is popular for 2022 and is said to be a Minimalism and Scandinavian design combined.

5. Matte Grey

Is it grey or gray either-or, this color is a great stylish design for your kitchen. Touch-to-open cabinets in a matte grey gives a simple and sleek design.

6. Natural-Inspired Green & Oak

They say that green is a calming color. Bringing green into your kitchen is a trend you will see this year. Expect to see kitchen cabinets in colors inspired by wood-land hues such as brown and greens.

7. All that Glitters

Another trend you will see this year is a metallic accent in your kitchen. A new trend will be dark cabinets with a metallic backsplash.

8. Countertop Continued

A nice countertop in the kitchen can boost your kitchen's look. A trend to see this year is waterfall kitchen island tops. These countertops look seamless and simple in design.

9. Backsplash & Beyond

Kitchen backsplashes have been a trend for a while now. There are many to choose from and countless designs. The 2022 trend for backsplashes will be a wrap-around backsplash. This means the backsplash will go from behind the stovetop to the ceiling and down onto the floor.

10. Practical Alternatives

Wooden beams or steel poles are being incorporated into the design of the 2022 kitchen. Also, steel countertops are the rage, they are easy to clean and durable.

11. Fully Integrated Smart Kitchens

Smart homes are becoming the norm now. Smart technology allows for smaller, more conveniently shaped appliances in the kitchen.  These appliances are energy efficient and can make your life easier. A smart fridge can actually let you know when you are running low on a particular grocery item!

Remember that the kitchen is the heart of the home and can bring family and friends together. Make sure to spruce up your kitchen for the New Year.

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Thursday, December 16, 2021

Experts Predict Record Increase in 2022 for Conforming Loans


 The housing market has had some price increases in homes in the past year. The spike has not only hit the home buyer's pockets but has pushed the limits of conforming loans to what experts anticipate may be record increases in 2022.

The Wall Street Journal reported that the maximum loan limit will be close to $1 million for high-cost areas for Fannie Mae and Freddie Mac. Those loans that are over the loan limits will be considered non-conforming or jumbo loans and will also be charged higher interest rates.

Many home buyers are excited about the increase. Those in high-cost areas will now not be considered jumbo loans. "There are so many benefits to having a conforming loan, increasing the loan limits will be huge," said Melissa Cohn, Regional Vice President at William Raveis Mortgage.

Freddie Mac and Fannie Mae are not lenders but they buy loans back from lenders and turn around and sell them to investors. In turn, loans are cheaper for lenders and they can offer better rates to their consumers.

Now with the higher limit for conforming loans, more homebuyers will qualify. The consumer will spend less on their down payments and can have a lower credit score to be approved.

This change comes as the home prices have increased around 7.42% between the third quarter of 2019 and 2020. Due to the rise, the baseline maximum conforming loan limit will increase.

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Monday, December 6, 2021

A New Steakhouse In Slidell


 St. Tammany Parish could see a new steakhouse at the proposed Camellia Bay Casino in Slidell. The restaurant will be opened by New Orleans Saints quarterback Drew Brees and renowned chef John Folse.

Brees is confident in his partnership with chef John Folse who Brees describes as a "Louisiana culinary icon." Folse not only is a chef but also does TV & radio work, a restaurant developer and the founder of the John Folse Culinary Institute.

Brees, who just retired from the Saints the past year supports the casino project. Not only will there be a casino resort but also a $35 million youth sports complex that will be funded by P2E the company that will bring the casino to Slidell. Peninsula Pacific Entertainment (P2E) is a development company based out of Los Angeles, California. The company will build the casino and operate it.

The Camellia Bay Casino plans to have a total of seven restaurants on site. The casino will be located in East St. Tammany Parish just outside of the city of Slidell. The $325 million project is described as a luxury resort and will also feature an Outdoor Amphitheater, resort-style pool & lazy river, a new dock & Marina, and a convention center.

The revenue and jobs from the casino would be an advantage for St. Tammany. The project is on hold until residents will vote on whether to reverse the 1996 vote to pan casinos in St. Tammany.

“I know that winning is about building the right team. Chef John Folse is a Louisiana culinary icon. And P2E has a proven track record of successfully building first-class resorts like I know Camellia Bay will be. That's why I'm so excited to announce our collaboration on our first signature steakhouse. We want everyone to come and experience the exceptionally high standard we have for our food here in Southeast Louisiana, with an added touch of my personal history playing for a region I love so much,” said Drew Brees.

“In Louisiana, you can’t have a good time without great food. I am proud to be a part of this tremendous opportunity for St. Tammany Parish,” said Folse. “Together with the team at Camellia Bay, we will build a first class-restaurant that is worthy of the association with one of Louisiana’s Greatest of All-Time - Drew Brees. We hope voters in St. Tammany will vote yes so we can make this a reality.”

Click Here For the Source of the Information.

Saturday, December 4, 2021

Tips To Spruce Up A Home's Curb Appeal

 


When selling a home or purchasing a home one of the terms often used is curb appeal. The first impression of a home is the exterior and the home's landscaping. Keeping the exterior of your home and its surroundings updated and fresh sets your home apart from others on the street. Here are five exterior updates that can boost your home's curb appeal.

1. Show Your Style With Siding

Siding has become very popular, especially durable siding that has little upkeep. A new trend is using steel siding. Steel siding is strong and durable with a sustainable finish that offers tons of options to mix and match paint colors and other exterior materials.

“Using a combination of siding materials can help with the overall visual interest of a house,” says Mike Bouman, P.E., Vice President of Design and Engineering at Pioneer Construction in Grand Rapids, Michigan. “But make sure you look at how much maintenance your chosen material will need. Steel siding, for example, is really good in terms of durability and upkeep.”

“If you keep to one color for your siding, you may want to add interest by combining horizontal and vertical boards,” Bouman says. “Or, if you do introduce more than one siding material, try and use just two types or colors, and possibly either masonry or brick.”

2. Use Color to Add Personality

A house can look so much different with a new exterior color. Keep with your home's style when selecting colors for paint, siding, trim, shutters, doors and other exterior details.

If you want a contrasting look from your landscape, go with a dark tone on your exterior. This will make the greens of the landscaping pop.

“We’re seeing darker colors such as dark brown and dark wood tones as a trend,” Bouman says, “which is where real wood, or siding that looks like wood, can really come into its own.”

A more fresh and sleek look would be to use white on your exterior with black accents. “The combination of white siding, white trim and black-framed windows is still a clean look which people want,” Bouman says.

3. Choose Your Trim

Trim not only protects the edges of your home's roof, porch and other overhangs and windows but also gives the exterior a completed look. When choosing trim, make sure the style complements your home's architecture.

“We see homeowners choosing trims and siding in a similar color or the same color,” Bouman says.

4. Invest in Your Outdoor Space

Make sure your porch, patio and outdoor living spaces are all up to date. An outdated living space or bland yard does not give off good curb appeal. Adding evergreen plants, ornamental grass and flowering perennials adds ambiance and color to your yard.

Add a maintenance-free ceiling that is constructed of durable aluminum to your outdoor porch or covered patio. The ceilings come in many colors and even a wood finish.

“It really makes a difference,” Bouman says of the aluminum under-porch and soffit products offered by Quality Edge. “Whether it’s a solid color that looks painted or a wood finish, the style really makes it look authentic without the maintenance.”

5. Go for New Gutters

A home can have new trim, a new roof, new exterior painting and great landscaping but if the gutters are dingy your curb appeal is ruined. Not only do you want your gutters to look nice, but you also want to make sure they are intact and standing up to the outdoor elements correctly.

“Matching it with your home’s trim color means that the gutter doesn’t have to stand out,” Bouman says. “There are lots of different options to choose from, so choose one that works with the architecture of your home. If you’re going for a more historical look, for example, you might want to select a specific profile or material to suit that style of house.”

Click Here For the Source of the Information.

Tuesday, November 30, 2021

The Future Looks Bright for Camellia Bay, a New Casino Project Planned for St. Tammany

 


P2E, also known as Peninsula Pacific Entertainment, has developed a plan to build a $329 million casino resort called Camellia Bay in St. Tammany on the vacant land close to Interstate 10 twin spans. Developers have been working on the proposal for months now and are ready for the vote by St. Tammany voters this December.

The project can have a great impact on St. Tammany's economy. The casino would bring tourists to the area and draw them to other events and attractions that are helped along the Lake Pontchartrain waterfront in Slidell. Many locals are worried that the project could also have negative impacts on their community.

Some St. Tammany Community residents are concerned that the casino would bring crime and decline to property values. This is not necessarily the case according to the Convergence Strategy Group.

"Through the research we see moderately positive impacts from similar developments across the country all the way down to just no impact, but we have not been able to uncover the negative impacts that many communities have feared," said Suzanne Leckert, an author of the study.

CSG is a research firm that is based out of New Orleans. They have over 40 years of experience in studying the leisure and gaming industry. According to their study, they found that a casino in the Slidell area would likely have a "moderately positive to negligible impact on surrounding businesses."

The study included an intense look into the proposed development's impact on the community. This includes a range of impacts from small businesses and tourism to crime and marriage or divorce rates. They looked at data that has been collected from the Bureau of Labor Statistics, the U.S. Census, municipal governments and interviews with local leaders.

Property values will not drop according to the study. CSG cited that after MGM Springfield opened in Springfield, Massachusetts property values saw a 21.4% increase compared to the smaller growth increase of 2.3% - 14.3% in surrounding areas. Another casino close to home in Baton Rouge, L’Auberge Casino, saw a higher property value increase close to the casino.

"The community impact study provides an abundance of data and information for St. Tammany residents to take into consideration to help them make an informed decision about this project," Masingill said. "This project ... has really been reviewed, has been scrutinized from every single angle. We know that there's a significant campaign of misinformation and distortions and, look, we want people to have all of the information."

Click Here For the Source of the Information.

Friday, November 26, 2021

The New Tunnel in Tammany Trace Will Be Opening Soon


The Tammany Trace Tunnel broke ground in June 2019 and is about to be completed. The $3.5 million project is being built by Hard Rock Construction. The project will solve the dangerous impediment for bicyclists, joggers and those who enjoy a walk along the Tammany Trace.

Tammany Trace is an asphalt trail that runs from Slidell to Covington, with trailheads near Slidell and in Lacombe, Mandeville, Abita Springs and Covington. It is mainly used for hiking, jogging and cycling. It was funded by federal money and opened its first part in 1994. It was included in the Rails-to-Trail's Conservatory's Hall of Fame in 2017.

The location where the trace crosses over La. 59 has been a dangerous intersection for cyclists and joggers. Located close to a mile north of I-12 there is a high volume of traffic there along with an S-curve that limits visibility.

The tunnel was slated to be completed in December says Chris Welty, public information officer for the state Department of Transportation and Development, but the weather will have to cooperate.

Hurricane Ida put a halt to the project when the trace was closed due to fallen debris. Workers have been working diligently to clear fallen trees and miscellaneous debris that fell on the 31-mile asphalt pathway during Ida. St. Tammany Parish government has still not announced a reopening date.

The project will take bicyclists and joggers through the tunnel under La. 59 and will also make the S-curve a little straighter for motorists. Those using the trace will now be able to move beneath La.59 at Emile Strain Road seamlessly. This marks the second tunnel on the trace. The first tunnel opened in 2002 and goes under Florida Street in Mandeville.

As far as the S-curve, it will be realigned and slightly shifted east. Motor traffic has already been routed along the new alignment on the slight curve making it safer for motorists.

As of right now, the tunnel and north approach slab is completed and the south approach slab is currently being constructed. New drainage and driveways are being installed for those that have been affected by the realignment.

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Monday, November 22, 2021

Third Quarter 2021 Reaches a 13-Year High for Conventional Loan Share of New Home Sales

 


The National Association of Home Builders shared that 75.5% of new home sales that were recorded in the 2021 third quarter was the largest share seen since the first of the 2008 Great Recession. The data comes from the U.S. Census Bureau's Quarterly Sales by Price and Financing.

The Quarterly Sales by Price and Financing reports are surveys of New Residential Sales that are done every March, June, September and December. These are tables that are published through the U.S. Census Bureau.

This record share saw an increase of 1.7 percentage points over 2021 2nd Quarter and has kept rising for the last three quarters. This has shown an increase of 6.9 percentage points since Q4 2021.

As for sales backed by conventional loans, the share increased quarter-over-quarter 74% from Q3 2020 to Q3 2021. The data shows a 4.9 percentage points gain over Q2 2021. FHA-backed sales came in at 11.9% in Q3 2021 which was a decline of 1.1 percentage points over Q2 2021. As for year-over-year, it was a decline of 6.6 percentage points.

VA-backed sales also came in with a decline of 1.7 percentage points from Q3 2020. The data shows a 4.9% decline which is the exact opposite of cash purchases.

Cash purchases rose 7.6% making this a rise for the past two quarters. It is now 4.4% which is the largest we have seen since Q4 2014. For Q3 2021 there was a 7.7% climb with 1,000 sales and a 4,000 increase year-over-year.

The 30-year fixed rate for both conventional and government-backed mortgages also declined quarter-over-quarter. Conventional-backed mortgages reported a 93 basis points decline while government-backed mortgages came in 72 basis points lower than seen in Q4 2019.

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Friday, November 19, 2021

Holiday Spending Will Be Backed by the Rising Consumer Confidence This Year

 


The COVID-19 vaccines are helping to get Americans back out into the physical consumer world. Even with the supply chain problems and rocket high inflation, consumers are still planning on spending the bucks this holiday season.

The Consumer Confidence Index saw a rise in the third quarter of 2021 to 113.8 points. The level seen this October was the highest level seen since July 2021. American's mindset also rose for future consumer spending. Many see purchasing a house car and major appliances before the year-end.

Close to 50% of those surveyed are planning on taking a vacation in the next six months. This is the highest level we have seen before the pandemic.

"While short-term inflation concerns rose to a 13-year high, the impact on confidence was muted," said Lynn Franco, The Conference Board's senior director of economic indicators.

In a nutshell, Americans are not fazed by price inflation. Luckily this is pushing the labor market to recover. It will be a while before consumers get fed up with the price inflations.

"And most of that is due to the job market," said Jennifer Lee, senior economist at BMO. "And though the share of those respondents finding that jobs are plentiful slipped a bit this month, the share of those who find that jobs are hard to get fell even more."

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Friday, November 5, 2021

2021 Third Quarter Up From Third Quarter of 2020 For the NAHB/Royal Building Products Remodeling Market Index (RMI)

 


The remodeling industry confidence has seen an improvement year over year when it comes to home remodeling. The National Association of Home Builders just put out its NAHB/Royal Building Products Remodeling Market Index (RMI) for the third quarter which saw a reading of 87. This is five points above the reading of the third quarter in 2020.

“Demand for remodeling remains strong, and remodelers are doing quite well as long as they can adequately deal with material and labor shortages,” said NAHB Remodelers Chair Steve Cunningham, CAPS, CGP, a remodeler from Williamsburg, Va. “So far, a substantial share of their customers have been willing and able to tolerate the extra cost and delays of requested remodeling projects.”

The RMI was changed in 2020 in response to a need to "improve its ability to interpret and track industry trends." Seasonally adjust quarter to quarter data cannot be compared due to the redesign. The quarterly data is gathered now by asking remodelers to compare the market conditions during the survey quarter as better, about the same or worse. Interestingly enough, 78% of those who answered the survey rated the current market about the same.

The Current Conditions Index also came up with an increase from 2020. The third quarter of 2021 averaged 90 which is a four-point increase from the third quarter of 2020. Each component compared had an increase. These components include large remodeling projects ($50,000 or more) rose six points to 86, moderately-sized remodeling projects (at least $20,000 but less than $50,000) increased five points to 91 and small remodeling projects (under $20,000) inched up one point to 91.

The Future Indicator Index was up seven points from the third quarter of 2020 at an average of 84 in the third quarter of 2021. The components measured in this index are the current rate at which leads and inquiries are coming and the backlog of remodeling jobs. The leads and inquiries rose to 83 points and the backlog rose to 85 points.

“We are seeing strong demand and continued optimism in the residential remodeling market, despite the fact that supply constraints are severe and widespread,” said NAHB Chief Economist Robert Dietz. “For example, well over 90% of remodelers in the third quarter RMI survey reported a shortage of carpenters. And 57% of remodelers reported having slightly raised prices for projects over the last six months, with another 28% indicating a significant increase in price, due in part to higher material costs and ongoing strong demand. Half of these remodelers reported some pricing out of demand due to higher prices for remodeling projects.”

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Mile Branch Has Help Cleaning Up With New Abatement Project

 


Mile Branch is located in Covington and is one of the town's major streams that go into the Tchefuncte River. The Healthy Communities Grant has been given to Keep Covington Beautiful to help control some of the litter that ends up in and around the stream.

Keep Covington Beautiful is part of the Keep America Beautiful campaign and is designed to keep Covington clean and beautiful. The organization focuses on four major aspects which are beautification, litter prevention, recycling and education. This non-profit 501 c 3 organization strives to enhance and preserve the city of Covington with the help of its citizens. Projects include biannual planting of downtown's streetside planters, litter prevention, recycling activities and environmental education.

The $7,592 Healthy Communities Grant was provided to Keep Covington Beautiful by Keep Louisiana Beautiful. The goal of the Waterway Litter Abatement Project is to focus on litter clean-up and prevention by adding a litter boom.

The litter boom will be located in Mile Branch close to Pine View Middle School. It will catch floating debris while allowing wildlife, canoes and kayaks through by going over or under it. Once the litter is collected, the vegetative debris will be separated. Then the trash and recyclables will be separated and categorized by type, brand and age.

The Waterway Litter Abatement Project is not only funded by the Keep Covington Beautiful but is also partnered with Osprey Initiative. They want to stop the trash source before it enters in the larger local bodies of water.

Click Here For the Source of the Information.

Saturday, October 30, 2021

August Sees A Rise In New Home Sales


 Inventory has been extremely low and buyers are in high demand and some prospective home buyers have been frustrated with the current market. This is not the case with the new home sales statistics. According to the Census Bureau, new home sales rose 1.5% in August 2021.

August saw a solid improvement in new home sales. The median home price was up 20.1% from August 2020 and is now $390,900. In fact, new home sales rose for the second consecutive month in August, the latest sign that homebuilders are recovering from problems that plagued them earlier in the year. The increase also reflects homebuilder sentiment that is on the rise as housing demand remains robust and the cost of lumber continues to ease.

New home builders still have the problem with building materials, the supply chain and labor shortages. These factors are also causing home prices to soar across the United States. This coupled with low inventory is not a good issue for both the builders and home buyers. It is reported that total for-sale inventory which includes new and existing homes has dropped over 20% from August 2020.

If you are in the market for a new home or want to sell your current home now is a great time. Even with the shortage of inventory, a professional sales agent can help you find the right home for the right price.

Click Here For the Source of the Information.

Friday, October 29, 2021

Summer Saw an Increase in Private Residential Spending


The strong housing market and an uptick in the US economy are encouraging homeowners to spend money. According to NAHB analysis of Census Construction Spending, there was a 0.4% increase in the month of August in private residential construction spending. This took the seasonally adjusted annual rate to $786.6 billion. The data reported shows a 24.3% increase in total private residential construction spending over a year ago.

There was a dip in spending on single-family and multifamily improvements in July but it jumped back up 2.5% in August. This might have been due to such issues with building material supply chains and labor challenges. Material prices such as lumber are also skyrocketing.

The National Association of Home Builders construction spending index saw solid growth in single-family construction and home improvement. The data also reports a rebound in new multifamily construction spending. Private nonresidential construction spending was reported at a seasonally adjusted annual rate of $455.6 billion in August.

Click Here For the Source of the Information.

Monday, October 11, 2021

If Your Considering Refinancing Your Home Here Are Six Important Things You Need To Know

  

There are several reasons a home may want to refinance. Homeowners can use the new loans to lower their interest rates, pay off mortgages at a faster pace or turn their home equity into cash. Before choosing this path, you need to makes sure that refinancing is right for you. Here are six things to consider to help you with the answer.

1. Refinancing is a process

Refinancing typically takes 30 to 45 days from start to finish. Once you choose a lender they will need to assess your income, assets and credit history. You will need to gather all your documents such as pay stubs and bank statements. An appraisal will also be done for the new mortgage. Make sure to clean your home and make sure your landscaping is in top shape.

2. Time is of the essence

Currently, we are at historic lows and this is a perfect time to refinance. This may not always be the case. It is smart to lock in a low monthly payment as well as a low rate. Once rates go up, the savings might not be there.

3. There are many reasons to refinance


A low interest rate is a big reason to refinance, however, it is not the only reason. The term of the loan is another factor, if you’re looking for a lower monthly outlay, a long-term loan will likely work best. This is not the case if you want to repay as soon as possible because you might get locked into a higher rate. Terms are important but other reasons also include changing your loan type, cashing out your equity or removing a name (in cases such as divorce).

4. You're not tied to your existing lender

You can always go with a new lender when refinancing. Once you have paid your original mortgage off with your lender you are free from obligation to them. This gives you an opportunity to shop around for the best terms and rates.

5. You can reinvest in your existing property

Many homeowners take the cash out equity and turn around and make improvements, renovations or additions to their home. These changes not only benefit your living situation but also can add more value to your home.

6. The decision is yours alone - so make it an educated one

Everyone has different goals and personal interests in life. This is also true with home purchases and refinancing. Refinancing is a personal decision and all options should be explored. If you are thinking of refinancing, contacting a lender who can help you with all aspects of home refinancing is the first smart choice of the process.

Click Here For the Source of the Information.

The Second Quarter of 2021 Sees a Rise in Real Estate Market Values


According to the "Flow of Funds" from the current Federal Reserve Z.1 Financial Accounts of the United States the aggregate market value of all owner-occupied real estate in the United States saw the largest increase in one quarter in the last 21 years. $33.8 trillion was reported in the first quarter of 2021 and rose by $1.1 trillion in the second quarter.

The Federal Reserve Z.1 Financial Accounts used to be known as the Flow of Funds accounts. This is a collection of financial accounts where the data is taken from them to see what funds are being used by whom. Basically, it is a way to track the net money going in and money coming out from several sectors of the US economy.

Due to lack of housing inventory, home prices are the highest we have seen in a while. Home mortgages also have jumped to $11.3 trillion which was a rise of $220 billion. Real estate assets are increasing faster than real estate liabilities. The Mortgage Bankers Association (MBA) reported as of September 12, indicates a forbearance rate of 3%.

The second quarter of 2021 saw a 12% year over year of appreciation of the market value of all real estate assets. Aggregate owners' equity also jumped to $23.6 trillion which was 68% of all household real estate, making it the highest seen since 1989.

Click Here For the Source of the Information.

Saturday, October 2, 2021

This Summer Saw a Gain in Single-Family Permit Gains

 


This summer saw a booming housing market. The year-over-year increase in single-family permits was 29.7% over July 2020. In July 2020 there were 525,623 single-family permits issued and in July 2021 there were 681,959 issued.

The uptick was also seen across the country in all four regions year-to-date in July 2021. The Northeast had the highest increase in single-family permits with 32.2%, followed by the south with a 30.4% increase, the West had a 29.8% and the Midwest came in the lowest bust till strong at 25.8%. AS for multifamily permits issued the West was the strongest at 29.8%, Northeast had a 25.6% increase, the South 18% and the Midwest with a 15.7%.

All 50 states and the District of Columbia had growth from July 2020 YTD and July 2021 YTD in single-family permits issued. The highest growth was in the District of Columbia with a 226.1% increase from 65 to 225. The highest 10 states made up 62.4% of the countries total.

Multifamily permits also saw an increase from 270,338 in July 2020 to 328,483 issued in July 2021 which was reported as a 21.5% increase. Thirty-eight states saw growth in multifamily permits while 12 states and the District of Columbia had a decline. New Mexico was the highest with a 295.8% increase from 427 to 1,690. Connecticut had the worst decline from 1,708 to 927 which was a 45.7% decrease. The top ten states totaled 63.2% of the multifamily permits issued.

Top Ten Metro Areas Issued Highest Number of  Single-Family Permits

Metropolitan Statistical AreaSingle-family Permits: Jan (Units #YTD, NSA)
Houston-The Woodlands-Sugar Land, TX32,134
Dallas-Fort Worth-Arlington, TX32,017
Phoenix-Mesa-Scottsdale, AZ22,420
Atlanta-Sandy Springs-Roswell, GA20,352
Tampa-St. Petersburg-Clearwater, FL1,954
Austin-Round Rock, TX15,427
Charlotte-Concord-Gastonia, NC-SC11,493
Orland-Kissimmee-Sanford, FL10,314
Jacksonville, FL9,949
Nashville-Davidson–Murfreesboro–Franklin, TN9,993
 

 

Top Ten Metro Areas Issued Highest Number of  Multifamily Permits
 
Metropolitan Statistical AreaMultifamily Permits: Jan (Units #YTD, NSA)
New York-Newark-Jersey City, NY-NJ-PA24.685
Dallas-Fort Worth-Arlington, TX16,796
Austin-Round Rock, TX16,170
Los Angeles-Long Beach-Anaheim, CA12,565
Seattle-Tacoma-Bellevue, WA10,573
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD10,307
Miami-Fort Lauderdale-West Palm Beach, FL9,090
Phoenix-Mesa-Scottsdale, AZ9,055
Nashville-Davidson–Murfreesboro–Franklin, TN8,412
Houston-TheWoodlands-Sugar Land, TX8,348
 

Friday, October 1, 2021

What Are the Costs of Home Ownership?

 


Purchasing a home is one of life's major events. Many believe it is out of reach financially because of the competitive market and high cost of homes. If you are up for the challenge, homeownership can be both personally rewarding and financially rewarding. There are several long-term financial benefits of owning a home.

There are many concerns when purchasing a home, in fact, a study showed that over half of millennial homeowners have at least one regret about purchasing their home. These regrets included not being happy with their rate, not being prepared for maintenance costs, high monthly payments and high home prices.

This should not detour you from taking on the financial responsibility of homeownership. In order for it to be a confident decision, get the aid of professionals in the industry who can help you fully understand the process and what surprising costs you may occur.

There are a lot of reasons why renting is best for some such as short-term living arrangements, others trying to improve their credit scores, and some people are just not in the financial position to take the plunge into buying a home.

If you can take the plunge then it is wise to do so. When you have to renew a lease, the rent usually increases around 3 - 5% per year. Also, the money you pay for rent goes into someone else's pocket. If you own a home, you are paying into a mortgage on a home and will obtain equity.

Remember even if there are maintenance costs, every dollar you put into your home adds value. In the long run, homeownership is usually less expensive than renting. If you are in the market for a home, contact your local agent who can help you with getting a home for your needs at a great value.

Click Here For the Source of the Information.

Thursday, September 23, 2021

Inventory Is Rising As of July 2021's Report


According to the National Association of Realtors (NAR) housing inventory is starting to improve. Industry leaders predict that home prices will begin to level off as the inventory starts to increase.

As of July 2021 on a year-over-year basis sales were up by 1.5% over this time last year. Existing home sales including single-family homes, townhomes, condominiums and co-ops also increased. Total existing-home sales jumped 2.0% to a seasonally adjusted annual rate of 5.99 million.

July also reported the current sales rates of unsold inventory sits at a 2.6 month supply. This is up from June 2021 but is still behind from this time last year. New construction will benefit from the low level of existing homes on the market.

Homes were on the market an average of 17 days in July which is an all-time low. This time last year homes stayed on the market for an average of 22 days. This summer homes 89% of homes that were sold stayed on the market for under a month.

Low inventory is still pushing home prices up. July reported a 17.8% increase in the median sales price of existing homes to $359,900. This is the 113th consecutive month of year-over-year increase according to the NAR. Multifamily existing homes were up 14.1% from a year ago to a median price of $307,100.

If you are in the market for a home, contact a local Realtor. Working with a local sales professional will help you save money and time. Realtors know the community the best.

Click Here For the Source of the Information.

Highway To Link St. Tammany Parish to Bogalusa Will Be Funded


Talk of a highway being built to connect St. Tammany Parish to Bogalusa has been discussed for years. The four-lane road has been on Louisiana's state project list for over thirty years. Finally, funding has come through for the project.

"My age group thought the older people were crazy," Bogalusa Mayor Wendy Perrette, who is 45, said. "They were holding on to a hope we didn't ever see coming."

"A lot of people weren't even born when we started talking about this," Washington Parish Sen. Beth Mizell said.

The highway named La. 3241 will be funded by money from Louisiana's 4-cents-a-gallon gasoline tax. The highway which will run through St. Tammany, from Bush to I-12, will be a "vital artery for Bogalusa. The $240 million project will run from the junction of La. 40 and La. 41 in Bush south through the central part of St. Tammany Parish to connect
with I-12 and will be completed by the end of 2024.

Many sections throughout the area will benefit such as the paper mill in Bogalusa and the economic development of St. Tammany Parish. The new highway will not only allow easier access to these areas but will also create jobs. It will improve St. Tammany businesses' logistics, distribution and transportation.

This project comes at a great time for the city of Bogalusa which is starting to see growth in retirees and young families who are looking for lower housing costs.

"A young family can live here for a little bit of nothing," Perrette said of the area. "Property taxes are low, it's affordable. It's beneficial even if you had to commute."

Click Here For the Source of the Information.

Sunday, September 12, 2021

The Northshore, the River Parishes and Jefferson Parish Will Now Be Connected Through Cultural Tours


The New Orleans area has a vast amount of great historical and cultural tours that both visitors and residents can enjoy. The St. Tammany Parish Tourist Commission, the River Parishes Tourist Commission and Jefferson CVB have come together to offer a unique tour that will begin on the Northshore, going to River Parishes and ending in Jefferson Parish. The tour will highlight the Native, Creole and African American people, heritage, culture and way of life in the triparish region and will be updated on a daily basis to cover different parts of history and culture.

The tour will start at the Northshore where patrons will visit places such as the Bayou Lacombe Museum highlighting the history of natives and a Three Sisters and Medicine Wheel Garden and the Fontainebleau State Park where 153 enslaved people who worked at Bernard de Marigny de Mandeville's sugar plantation have a historical marker. Other stops along the way will be at the Madisonville Historic Museum, Jean Baptiste Lang Creole House, the Dew Drop Jazz and Benevolent Hall, and the nine Native and African American markers on the Historic Mandeville Marker Tour.

The next stop will be in the Louisiana River Parishes. Patrons will tour Whitney Plantation and learn about the cruel labor slaves went through on sugar plantations. There is also a memorial to the 1811 Slave Revolt that is located at the plantation. The Destrehan Plantation will also be toured where an exhibit is housed honoring the 1811 Slave Revolt procession and the Rost Home Colony. On a lighter note, the tour will also go to the 1811 Kid Ory History House and the Historic Riverlands Soul River Musical Journey where life after slavery is represented.

The tour will end in Jefferson Parish where patrons will visit the Marsalis Mansion Motel Marker, Camp Parapet and learn about this safe haven for slaves that were housed here during the Civil War's Union's occupation. Local gospel artist Mahalia Jackson’s gravesite is also located onsite. Other destinations on the tour will include True Vine Baptist Church, the oldest and longest-running African American Church on the West Bank of Jefferson Parish and famous pirate Jean Lafitte's smuggling route which is now the Barataria Preserve of Jean Lafitte National Historical Park and Preserve.

The tour is a five-day tour and can be customized. The tour is ideal for groups of around 10 - 25 but can have up to 50 people. Martha Martinez of YAYA Louisiana Tours and Travel is a certified tour guide and will accompany and lead groups if desired.

Click Here For the Source of the Information.

Sunday, September 5, 2021

St. Tammany Parish Libraries Are the Place To Go


The pandemic closed most public places for a good part of the last two years. Places are slowly starting to open back up with new procedures in place to help stop the spread of the virus. The St. Tammany Parish Library is one of them and is now open for residents to enjoy.

This fall the library will be pack with things for patrons to be involved in. The only difference, many events will be virtual programming or in-person outdoor events. Each library will maintain the rule of social distancing and the libraries have been redesigned to incorporate safety standards and features to keep patrons and library staff safe.

Masks will be required for everyone visiting the library ages five and older. Under Governor John Bel Edwards' indoor mask mandate masks must be worn by both vaccinated and unvaccinated patrons and workers. Computers will be open but only every other computer may be used and sanitizing supplies will be provided by the library.

If patrons are still leery of visiting the library, the libraries wills still offer curbside service and free wi-fi will be available in the parking lots of each library. The small libraries Abita Springs, Lacombe, Pearl River, Lee Road, Folsom, and Bush will now have evening hours on Wednesday nights.

Click Here For the Source of the Information.

Thursday, September 2, 2021

Another Drop in Mortgage Rates

 


Mortgage interest rates have been rising from the record low rates that were seen at the beginning of 2021.  Good news for those that missed out, rates are showing a dip back towards record lows. Freddie Mac reported the 30 year fixed rates have dropped to 2.88% and the 15 year fixed rates have dropped to 2.22%. These are the lowest levels seen since the middle of February 2021.

"Since their peak at 3.18% in April, mortgage rates have declined by thirty basis points," said Sam Khater, Freddie Mac's chief economist. "While this decline is not large, it provides modest relief to borrowers who are purchasing in a market with strong home appreciation and scant inventory."

The rising house prices coupled with rising rates pushed some buyers back from purchasing. Now that the rates are dropping these buyers hopefully will start actively looking again.  George Ratiu of Realtor.com believes the rates will offset the higher home prices.

"For buyers seeking predictable monthly payments, the continuation of low rates will enable them to keep searching for a desirable home with the peace of mind that their housing costs will remain steady for years to come with a low fixed-rate mortgage," he said.

Another positive outcome in the home market is the home inventory is up 5%.  Sellers are encouraged by the rising home prices and are now putting their homes on the market.

"The influx of fresh listings is helping moderate record-breaking price growth, presenting more opportunities for buyers. However, affordability will remain a challenge for many first-time buyers, as the monthly payment for the typical home is still $116 higher this week than it was a year ago."

Refinancing dropped in June 2021 due to the rising rates.  June 2021 saw refinancing 30% lower than in March of 2021 and 60% down from January 2021.  Now since the rates are dipping again, now is a good time for homeowners to revisit refinancing.

If you are in the market for a new home, contact a Realtor who can help with the process from start to finish.  This is a great time for potential homebuyers to take advantage of the low mortgage rates.

Click Here For the Source of the Information.

Wednesday, September 1, 2021

Will the Fall Bring a Cooler Housing Market?


The National Association of Realtors says the housing market is hinting at cooling off this fall. This doesn't mean the market still will not be viable, it just will not be as hot as we have seen in the first half of 2021.

"There has been a turn in the market from superheated to still very strong," said Lawrence Yun, NAR's chief economist.

High home prices have detoured many from purchasing but this scenario is improving a little according to Yun. Unsold homes increased 7.3% from June 2021 to July 2021 and unsold inventory is up at a 2.6 month supply at the current sales pace. There is a balanced market currently at around a 6 month supply of homes.

"We see inventory beginning to tick up, which will lessen the intensity of multiple offers," said Yun. "Much of the home sales growth is still occurring in the upper-end markets, while the mid-to lower-tier areas aren't seeing as much growth because there are still too few starter homes available."

As of July 2021, the median home price for existing homes was up 17.8% from a year ago to $359,900. The year-over-year gains have increased for the past 113 months in a row. Cash purchases have remained strong with all-cash sales making up 23% of home sale transactions in July. This was up 16% from July 2020. Low mortgage rates are still helping the current market and homebuyers.

"Despite the ongoing challenges of today's housing market, including limited inventory, lightning-fast home sales and competition from investors with deep pockets, many buyers are finding ways to persist until they find and close on a home," said Danielle Hale, Realtor.com chief economist.

Click Here for the Source of the Information.

Thursday, August 26, 2021

An Uptick in Home Building Construction Times During 2020


The 2020 Survey of Construction (SOC) revealed that it took 10 days less to finish a home from authorization to completion in 2020 than in 2019. The survey also shows that the average completion time of a single-family house is around 7.8 months, which usually includes a little over a month from authorization to start and another 6.8 months to finish the construction.  Good news for the housing market as inventory has been very low the past year.

Depending on the function of the new construction single-family homes the time it takes to complete varies. For a house built for sale, it took the shortest amount of time which was 6.9 months from permits to completion. A new construction home built by owners took around 13 months and a home built for rent took around 10.6 months. New construction homes built by a hired contractor only took 9.7 months from permits to completion.

Time also varies by region. The region with the longest time tied with Middle Atlantic and New England at 11.6 months while the shortest was the South Atlantic division with an average of 7.8 months. The remaining regions include the Pacific at 10 months and East South Central at 9.1 months.

Hopefully, with the shorter construction times, there will be more inventory for homebuyers. If you are in the market for a new home, choose a Realtor to help you with the process.

Click Here For the Source of the Information.

Wednesday, August 25, 2021

Buyers’ Must-Haves When It Comes to Kitchen and Bath Features


The National Association of Home Builders' publication What Home Buyers Really Want, 2021 Edition, gave us the top features buyers want in a kitchen and a bathroom. In the kitchen, four out of every ten buyers feel that a double sink is essential and expressed they would probably not purchase a home without this feature. For bathrooms, most buyers said it was essential for a separate shower and tub in the primary bathroom.

The kitchen top 10 kitchen features that rated essential or desirable were a double sink (side-by-side) 81%, walk-in pantry 81%, table space for eating 78%, a central island 77%, drinking water filtration 76%, granite/natural stone countertops 73%, recessed lighting 69%, customized backsplash 69%, pull-out shelves 68% and a breakfast bar 64%.

Broken out by buyers who say it is essential and buyers who say a feature is desirable were surprising. For the top 10 features that were essential 42% of buyers said a double sink, 35% table space for eating, 34% chose a walk-in pantry, 32% said a central island, 32% drinking water filtration, 26% granite/natural stone countertops, 26% recessed lighting, 23% customized backsplash, 22% pull-out shelves and 19% breakfast bar.

Bathrooms are deemed very important to today's buyers, especially the primary bathroom. The top ten on the list for the home's primary bathroom were a linen closet 76%, both shower stall & tub 74%, double vanity 69%, private toilet compartment 67%, toilet, tub & sink-white 65%, granite vanity 65%, ceramic tile walls, multiple shower heads 59%, whirlpool tub 56% and body spray panel 56%.

Buyers who said that the bath shower stall & tub were essential ranked the highest at 36% while the linen closet ranked the highest in desirable at 49%. The lowest-ranked feature for both essential and desirable were dual toilets.

If you are in the market for a new home, now is the time to purchase one due to historically low interest rates. Remember to use a Realtor who can help you with the process from choosing a home to closing.

Click Here For the Source of the Information.

Monday, August 23, 2021

Home Buyers Will Need Patience When Purchasing a Home in 2021


The current housing market is booming which is good news but is it for buyers? Homebuyers are facing many obstacles in this seller's market. In fact, it is one of the most competitive markets we have seen for homebuyers recently. According to the National Association of Realtors (NAR), homes that are for sale are getting around 4.8 offers per sale! This is due to the lack of inventory in the current housing market.

“The housing market is still relatively under-supplied, and buyers can’t buy what’s not for sale. Relative to what we saw in 2017 to 2019, March 2021 was still roughly 117,000 new listings lower, adding to the pre-existing early-year gap of more than 200,000 fresh listings that would typically have come to market in January or February. Despite this week’s gain from a year ago, we’re 19 percent below the new seller activity that we saw in the same week in 2019,” says Danielle Hale, Chief Economist at realtor.com.

Many are blaming the pandemic for lack of inventory because sellers are scared to have potential buyers in their homes but this is not the case. The main cause is the shortage of new construction of single-family homes. A chart which shows the completed single-family homes per decade shows a dramatic decrease from 2000-2009 to 2010-2019. From 2000 - 2009 12.6 million single-family homes were constructed and from 2010 - 2019 only 6.5 million single-family homes were constructed.

“Even before the COVID-19 pandemic and current recession, the housing market was facing a substantial supply shortage and that deficit has grown. In 2018, we estimated that there was a housing supply shortage of approximately 2.5 million units, meaning that the U.S. economy was about 2.5 million units below what was needed to match long-term demand. Using the same methodology, we estimate that the housing shortage increased to 3.8 million units by the end of 2020. A continued increase in a housing shortage is extremely unusual; typically in a recession, housing demand declines and supply rises, causing inventory to rise above the long-term trend,” says am Khater, Vice President and Chief Economist at Freddie Mac, Economic Housing and Research Division.

Freddie Mac estimates that close to four million homes will need to be built to meet the current demand. NAR reports that as of March 2021, there were 1.74 million housing starts which is the highest they have been in 14 years. This is an increase in both single-family and multifamily units. It will take around 4-8 months from start to completion on new construction so patience is needed.

If you are considering purchasing a home this year, you will definitely need some patience. A good idea is to contact your local real estate professional to help you navigate this demanding housing market.

Click Here For the Source of the Information.

Tuesday, August 10, 2021

Motivations for Buyers To Move During the Current Housing Market


The current housing market is flooded with buyers with low-interest rates and slim inventory making it hard to compete. So what motivates these buyers to make the decision to move during the current market? Buyers across the country blame it on the health crisis. Your living space has become one of the most valuable assets during these uncertain times.

“For customers who cited COVID-19 as an influence on their move in 2020, the top reasons associated with COVID-19 were concerns for personal and family health and wellbeing (60%); desires to be closer to family (59%); 57% moved due to changes in employment status or work arrangement (including the ability to work remotely); and 53% desired a lifestyle change or improvement of quality of life,” according to the 2020 Annual National Movers Study.

These different perspectives have shaped homebuyers' new view on homeownership. Here are some reasons why buyers are considering now the time to buy.

1. Working from Home

This has become the norm in the working community. After the stay-at-home orders were mandated last year, the workforce had to change their perspective on working from home. Nowadays your work commute is not as important as it was in the past. There has been a residential migration because of remote working. Fifty-three percent expressed that they would be more likely to move.

2. Room for Fitness & Activities

Health has become more prevalent during the COVID-19 pandemic. This has become a top priority for all of us. Fitness Trends 2021: New Trends in Fitness [Global Report] states the fastest growing fitness training areas are at-home fitness equipment rising up 50%, personal trainers/nutritionists up 48% and online fitness courses, classes and subscriptions are up 17%. This means having a place at home for workouts is a must.

3. Outdoor Space

Now more than ever a place to enjoy nature is important when it comes to a home. Better Homes & Gardens released outdoor living trends which included that 60% of homeowners want an outdoor kitchen, edible gardens are also high on the list as well as secluded outdoor spaces.

Moving up to a bigger home might be your best option when it comes to accomodating any of these features. Now is the time to make the move with historically low mortgage rates. Take the plunge and choose a Realtor who knows your neighborhood and the current housing market.

Click Here For the Source of the Information.

Sunday, August 1, 2021

Stucco and Vinyl Make the Top List for Exteriors on New Construction Homes


The Census Bureau released their Survey of Construction (SOC) and data shows that the most used exterior finished in 2020 for a new single-family home was stucco. The report revealed that 28% of new homes started in 2020 the principal exterior material was stucco, 26% used vinyl, 21% used Hardiplank or Hardiboard, 19% brick of veer brick, wood products 4% and rock or stone materials only 1%.

The Survey of Construction (SOC) is a great resource distributed by the United States Census Bureau. The purpose of the survey is to gather the data on the current statistics for both national and regional starts, completions and characteristics of new construction on single-family and multifamily housing units. The report also includes sales of new single-family houses.

Along the different regions in the county, there were big differences in what was mainly used on the exteriors of homes in certain regions. Vinyl siding was used most in 5 out of the 9 census divisions. The report shows that in Middle Atlantic and New England vinyl was used as the primary exterior on 76% of new homes started in 2020, in the East 68%, West North Central 53%, and in East South Central 45%. Stucco won out in the Pacific division with 63%, Mountain came in with 50% and South Atlantic used the material on 39% of new single-family homes started in 2020. Brick or brick veneer was used the most in South Central with 64% and the East with 39%.

If you are in the market for a home, now is a great time to buy. The historically low-interest rates are in the buyer's favor. Remember if you are considering purchasing a home, use a licensed sales agent who can help you through the process.

Click Here For the Source of the Information.

Tuesday, July 27, 2021

Coquille Parks and Recreations Is Growing Along With Its Community

 St. Tammany has seen a big growth spurt with the current housing market trends. The growth in the

area has also brought many new residents. Coquille Parks is expanding along with the community growth.

"This area has seen over 5% growth for the last five years," Richard Bentley-Smith, executive director at Coquille Parks and Recreation said. "We really are just trying to keep up with the growth of this area off La. 22 and U.S. 190 as much as possible, so we can offer a place for every kid to play. And not just baseball or football or volleyball, but we want as many kids in the area to come to our splashpad or playgrounds and not be overcrowded."

"The key to running a recreation department, no matter where you are, is listening to your community," Bentley-Smith said. "What Madisonville, Goodbee, Covington and the District 14 area wants may not be what Baton Rouge or even Slidell wants. So you have to really listen to your taxpayers and build to suit their needs."

This summer the center hosted a cheer camp for over 100 kids for the first time. In fact, organized program participation has grown 750% since 1999, when the recreation district was established. St. Tammany Recreation District 14 began with Little League ball fields in 1999  which consisted of 46 acres that were purchased by the Madisonville Youth Boosters. Currently, Coquille Park includes 130 acres fields, gyms, multipurpose facilities, tennis courts, playgrounds and outdoor exercise areas.

A bond that was passed at the beginning of 2021 will give the park the opportunity to focus on upgrades and maintenance. Bentley-Smith also hopes for additional funding in order to purchase additional land. The negotiations and funding are in the works for 35-acres of land next to the park.

A new baseball complex is slated to open next month. The park is also looking into purchasing outdoor fitness equipment and building a disk golf area as well as miniature golf courses. That's not all on the list of what is to come. A dog park is planned to open in the early spring of 2022, new trails are to be built through the wetlands area, and a campground with an accessible ball field will also be added.

"We listened to the public requests," Bentley-Smith said. "We build facilities based on what the public requests, and that includes the bond dollars. We heard the public, and we want to put those funds to the best use possible."

The new park will be for all residents from toddlers to senior citizens. Bentley-Smith gives the credit to the town of Madisonville where the two fields started out on Pine Street. The citizens and St. Tammany have come together to help the park continue to grow to meet the needs of the community.

Click Here For the Source of the Information.

Monday, July 26, 2021

A Successful 2021 A Taste of Covington


This year A Taste of Covington 2021 was a success. Each year, restaurants and drinking establishments in Covington take part in this annual food, wine, music and art festival.

Patrons were local and visitors to the area. The proceeds for this year's A Taste of Covington went to the Covington Business Association which in turn helped to advance the interests of local businesses in the city's historic district.  The annual celebration took place the whole month of June.

A Taste of Covington began in 2012 and was mainly just for locals. As it expanded and became nationally known, it now brings visitors from all around to the event. In the past before COVID, the event took place over 5 days. In 2020 COVID pushed the event back to October 2020 and went to a month-long event.

The month-long event includes all-inclusive four-course or more dinners paired with wines. These vintner's dinners are held at participating restaurants throughout Covington. Also, there is the "Festa Del Vino" which is a tasting with live music, the "Grand Tasting which is an evening with live music and wine and ends with the Sunday Champagne Jazz Brunch.

The Grand Tasting this year was the final big event on June 26th. It was at Bogue Falaya Park Pavilion and had over 150 patrons attend. The guest could taste wines and purchase those they loved. Déjà Vu Band ended the night with patrons dancing to their tunes as the day ended with a beautiful sunset over the Bogue Falaya River.

Click Here For the Source of the Information.

Thursday, July 22, 2021

Current Lumber Shortage Takes No Toll on the Housing Market

Even with the lumber shortage and rising prices homeowners are still investing in their homes. Home Depot reported in May that their stock surged 20% so far in 2021.


"We continue to build on the momentum from our strategic investments and effectively manage the unprecedented demand for home improvement projects," Home Depot chairman and CEO Craig Menear said in a press release.

Menear says that the housing industry is steady and strong and will only continue to strengthen since COVID-19 restrictions are being lifted. More buyers are getting out there and looking and more sellers are eager to list their homes.

"The current shortage of new housing clearly is helping to drive improvements in the home values, which is a good thing for spending in the home," he added.

According to many other reports released, data shows continued demand for housing. Buyer demand is up and mortgage rates still remain at historic lows. Even with the shortage of lumber and other things such as a bottleneck in shipping appliances, new homes are still being built. The demand still sharply outways the current housing inventory.

Click Here For the Source of the Information.