2023 Will Be a Big Year for St. Tammany When It Comes to Road Construction

 St. Tammany residents are very familiar with traffic congestion in the parish. There is faster growth in St. Tammany Parish than the road capacity can handle, especially at major corridors like Interstate 12. In fact, residents have gone to social media about such issues.

“Treat yourself like I-12 and never stop working on yourself, no matter how inconvenient it is to everyone else,” a poster quipped on one Facebook page devoted to the topic.

According to the state Department of Transportation and Development, they are in the second phase of the $187 million project of widening I-12. This includes 3 miles from Lousiana 21 to US 190 and along with that stretch, they will widen the bridge over the Tchefuncte River. The third phase will include from Louisiana 21 to Louisiana 1077 which will be bid on in July 2023. Sec. Shawn Wilson noted that it is taking a long time because the interstate work must be done in phases.

Along with the I-12 project, there are several other road construction projects happening in St. Tammany. One to note is the new 20-mile four-lane highway that will stretch between Lacombe to Bush. Another one is the new Bridge on US 190 over the Bogue Falaya River in Covington.

“These are very impactful projects to ease traffic and make it safer,” St. Tammany Parish President Mike Cooper said.

Over the next year, the DOTD will spend around $172 million on 22 projects in St. Tammany Parish. Another one to note is Louisiana 3241 which is funded by the 4-cent-per-gallon gasoline tax.

“It should have been here 30 years ago,” Wilson said of the highway that will run from the juncture of I-12 and Louisiana 434 in Lacombe north to Bush.

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How the Mandeville Children’s Museum Rang in the New Year

 The Children’s Museum of St. Tammany Parish in Mandeville came up with a unique way for a family fun event to ring in the New Year. Children and their families can to the museum early on New Year’s Eve to celebrate ringing in 2023.

There were tons of games and activities for everyone and they celebrated by having a noon balloon drop. Kid-friendly music was performed live by the Imagination Movers.

The museum has also recently celebrated and welcomed Christy Myers as its first executive director. She has worked closely with the museum since it opened.

“I’m really looking forward to thinking in the long term now,” Myers said, expressing thanks for a board that envisions the museum as a place “where play is encouraged, creativity is nurtured and learning is enjoyed on the north shore. Our board members are very hands-on ” Myers said.

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Unusual Events Covered by Homeowners Insurance

 When you think of events covered by homeowners insurance, you think of fires, break-ins, tornadoes etc. just to name a few common losses. Most homeowners know the general things that it does cover.

The top property damage is by fire or weather according to the Insurance Information Institute III. There are other top claims which made the list. These include wind and hail damage, freezing pipes, and lightning.

Homeowners may not know everything that an insurance claim will cover and many are damages are surprising. Your insurance agent will know these things and can educate all policyholders on uncommon losses. They can also educate policyholders on what is not covered in a typical homeowners insurance policy such as earthquakes and flood damage.

Things that fall from the sky are covered. This can be damage from meteors or airplane parts. Homeowners surprisingly do not need a separate policy for damage from volcanic eruptions. Spoiled food, if rotted due to a power outage is covered by your homeowner’s insurance. Pet bites or attacks are also covered under a homeowner’s insurance policy. If you need to relocate during repairs after an event such as a fire, your hotel expenses can be covered.

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The Mortgage Rates of 2022

 The end of 2022 saw a dip in mortgage rates with the 30-year fixed-rate mortgage at an average of 6.49% even though this is down from the week prior at 6.58% it is still way up from the same time last year which averaged 3.11%.

The Federal Reserve has been boosting the interest rates due to easing the rising inflation but they are falling because inflation has “reached its peak.” According to Jerome Powell, Fed Chairman, they started to cool off on the spike in rates December 2022. Although the rates were dipping and home prices were easing up, homebuyer demand was still slowing down at the end of 2022.

“Mortgage rates continued to drop this week as optimism grows around the prospect that the Federal Reserve will slow its pace of rate hikes. Despite some promising developments, we have a long way to go,” said Sam Khater, Freddi Mac’s chief economist.

“The Fed is indicating that the aggressive rate hikes this year have been enough to start slowing inflation,” according to George Ratiu, Realtor.com’s manager of economic research.

He also goes on to explain that the falling away from 7% rates is a relief to homebuyers. Due to the dip, homebuyers have been more positive and welcome the slow down. Mortgage applications have been rising according to the Mortgage Bankers Association.

“The silver lining is that inventory of homes for sale continues ramping up, even with sellers taking a step back from the market this fall. Buyers who are ready can expect more properties to choose from, and a better negotiating position,” says Ratiu.

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A Unique Siding For a Home

 Board and batten style siding is coming back in style and is a great way to add visual interest to the walls of your home. This style of siding can also boost the curb appeal of your home. This style of siding is constructed of thin strips of wood molding (battens) fixed on top of the vertical seams of panel or vertical siding. This timeless look is both rustic and trendy and can go on most any home design. Board and batten style siding can provide a clean, modern texture to your home, providing character and cozy warmth to the exterior.

Board and batten has been used ever since the conception of the U.S. It was first used on barns and sheds which is why many people refer to it as barn siding. It was not just for looks but served a very important purpose. The batten strips were used on siding to stop any outside elements from seeping into the joints. The animals in the barns would stay warm because of the batten siding.

Today’s modern board and batten style has many different design looks. The batten can be installed using panel siding, vertical siding, or lap installed vertically. This can be done with thin battens or wider battens and can have varying thin and wide battens. Many homes install board and batten style siding on the whole exterior of their home or just to accent a wall or a feature of the home. Other examples of using this style on the exterior are adding board and batten to the second story, mixing board and batten with brick veneer or mixing it with metal roofing.

When determining the cost of board and batten, you need to look at the size of your home, the design of your home, the overall project and the quality of the materials. Usually board and batten is made out of wood, but can be made from other materials such as vinyl, fiber cement or steel. Professionals in the industry say the most durable is engineered wood siding. It has the look of cedar texture but is more durable and easiest to maintain.

Re-siding your home can give it a completely different look and can boost your curb appeal. If you are in the market to sell your home, talk to a Realtor about how board and batten can enhance the curb appeal and look for your home.

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Details That Separate a Primary Suite From a Five-Star Retreat Primary Suite

 The primary suite can be called a master suite, owners suite or whatever you like, but no matter what you call the space, there are many distinct differences you will find from a regular bedroom and ensuite bath. An owner’s suite should be decorated and designed with the owner in mind. Here are five distinct features that when added to a master suite makes the space a five-star retreat.

1. A Sitting Room Where You Can Relax

A dedicated sitting room is an added bonus to your owner’s retreat. You can make the space both elegant yet cozy. When decorated your sitting room, choose richly hued colors that will keep the space close and cozy. A sitting area should have its own decor apart from the rest of the master suite. A good way to link the areas is to use the same window treatments such as nice draperies throughout the master suite.

2. Closets with Advanced-Tech Appliances, so You’re Always Impeccably Dressed

Just like location is important to real estate, the closet is important to the bedroom. In fact, most people would agree that you can never have too many closets. A master bedroom must have a nice walk-in closet and a good bit of the space’s square footage is dedicated to it. To make it even better, many master closets now have high tech clothing care appliances. These include an all in one washtower that can both wash and dry clothes. Since it is a single unit it takes up very little space.

3. A Private Courtyard for Peace and Quiet

A private courtyard is a great way to add outdoor space to your master retreat. This can be a space that is only accessed by the owner’s suite. A great example would be to add accordion style glass panel doors to the sitting room. These doors can open up into a nice private courtyard area. This can be a great place to sunbathe, do yoga, or play with your pet.

4. A Personal Coffee Bar to Make Mornings Brighter

Being able to have coffee at your fingertips right when you get out of bed would be a great feature for the master suite. A built-in coffee bar in the primary suite is the perfect touch. A nice little area with a counter and an under-counter refrigerator will complete the space. That way you have a place to put your cream, cold brew, water or cocktail ingredients.

5. A Mini Art Gallery to Showcase Cherished Pieces

A great way to show off a homeowner’s personality is through their art collection. A perfect spot to do this in a primary suite is in a hallway that connects the primary suite to the rest of the home. The hallway can be treated as a gallery to display the homeowner’s treasured pieces. This is the perfect space because this is a place that homeowner’s truly spend the majority of their time.

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How Much of Your Net Worth Should Be in Real Estate?

 Ever since the first settlers came to America, real estate has been a worthy investment. Even with the volatile economy we currently are living in, real estate is still a pretty safe way to invest and grow your net worth. The home prices are high currently, but those that have recently invested in a new home will still see a good return. There are some homeowners who have too little or too much of their net worth invested in real estate which can result in problems. So what is the magic number when it comes to investing your net worth into real estate?

According to professionals in the industry, you should use anywhere from 25% to 40% of your net worth for real estate. This will include your home that you live in and other real estate investments. By doing this, it allows you to capitalize on the advantages of real estate ownership while giving you plenty of flexibility to pursue other avenues of investment and wealth development. This is a broad percentage range but your age, risk tolerance and other various factors will play a part in determining how much you should go with.

Investors will tell you that adding real estate to a portfolio is very beneficial. You can enjoy predictable cash flow, excellent returns, tax advantages and diversification. Remember there are several pros to real estate investments. Real estate can appreciate over time, bring you tax incentives, provide a large chunk of income, allows you to use leverage and build equity, and allows the investor to have direct control over the investment.

Investors will need to know first hand how to calculate how much real estate should go into their net worth. This can be calculated with a net worth formula which is net worth = total assets – total liabilities. There are net worth calculators online that will provide you with the figure. An investor should always know the information needed to calculate.

To make it easier, an investor will need to divide their assets into four categories. These include tangible assets (furniture, cars, collectables, physical properties, etc.), equity assets (ownership in stocks, investments in partnerships and businesses, retirement accounts, life insurance cash value, etc.), cash and cash equivalents (cash, money market accounts, checking accounts, savings, etc.) and fixed income (bonds, etc.).

Once you have this total, then you will need to add up your liabilities. This can be divided into two categories which are secured debts (car loans, home equity loans, mortgages, etc.) and unsecured debts (credit card debt, student loans, personal loans, taxes, medical bills, etc.). Once you have your total for your assets and liabilities you will apply the net worth formula.

Remember, it is very important to understand how your net worth is calculated and what information you will need to do this. If you are in the market for a home or a real estate investment, talk to a local realtor who can help you with a real estate transaction.

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