| Don't worry too much about the doom and gloom | | | | Orleans area. The most talked, sung and written about |
| predictions you hear about the nation's real estate | | | | city in the Western World, New Orleans is so steeped |
| market: home value prices are dropping, the bubble is | | | | in French and Spanish culture that some still consider it |
| bursting, housing's not selling, etc. Looked at on a | | | | a European City. In Cajun Country you can enjoy the |
| national level, the market is simply leveling out from the | | | | Creole and Cajun spice of life and spirit - while taking in |
| boom experienced the past few years. Besides, | | | | the culture and a few wildlife adventures in the heart |
| knowing how things are nationally and what the | | | | of the swamps and bayous. The Gulf of Mexico is |
| median home value for the nation is (221,900) isn't | | | | also accessible from this area. |
| going to help you when you decide to relocate. | | | | Plantation Country is full of old time plantations, turned |
| Real estate is an investment and must be looked at as | | | | into testaments of history and culture of a time when |
| such. You want to invest somewhere your home | | | | cotton was still king, as well as the capital city of Baton |
| value is sure to appreciate. By examining past home | | | | Rouge. At the Crossroads region (the center of |
| value and sales trends in a specific area, as well as | | | | Louisiana) you can enjoy outdoor adventure: hiking the |
| that area's economy, unemployments rates, job | | | | National Forests, canoing, fishing, birding and hunting as |
| opportunities and tourist attractions, you can get a idea | | | | well as the Native American culture that still lingers. |
| of whether home value prices are likely to rise or fall in | | | | Finally, there's the norther region or the Sportsman's |
| that area. Areas with strong economies, low | | | | Paradise, where woods, hills and lakes combine to |
| unemployment, plenty of jobs and lots of tourist | | | | provide any outdoor activity you could hope for. |
| attractions are more likely to have sharply increase | | | | There's also great nightlife, casino, gaming and |
| home value appreciation. | | | | entertainment venues for everyone in the area. |
| That being said, there is one area in the U.S. that's real | | | | Regardless of what you're looking to do, you're bound |
| estate market is still a bit of a mystery: Louisiana. With | | | | to find it somewhere in Louisiana. |
| Hurricane Katrina driving so many people out of their | | | | Because of the disaster of Hurricane Katrina, |
| homes and destroying still more homes (and | | | | Louisiana's real estate market is still recovering. Their |
| consequently, home value), Louisiana has been | | | | unemployment rate is relatively high at 4.8%, though |
| focused on rebuilding itself and the New Orleans area | | | | the state is working on that. The median household |
| in particular. Unlike any other state, Louisiana actually | | | | income is still fairly low at about $36,729 in 2005, much |
| lost population in the past few years, with the 2006 | | | | lower than the national median. According to |
| census listing a population of 4,287,768 - several | | | | RealtyTrac, the median home value sales price in |
| hundred thousand less people than in 2004, before | | | | Louisiana in 2006 was about $172,510. You can expect |
| Katrina. The state has been building back it's economy | | | | the state to be a huge area of growth over the next |
| and agricultural products such as seafood, cotton, | | | | few years as they build back what was lost to the |
| soybeans, cattle, sugarcane, poultry and eggs, dairy | | | | hurricane. |
| and rice are being churned out as fast as possible. | | | | The value of a home is different in every area of |
| Also, industrial sectors are back in full swing of | | | | Louisiana, but it looks like undamaged homes are selling |
| production, including chemical products, petroleum and | | | | quickly to those who want to get back in the area. |
| coal, food processing, transportation equipment, paper | | | | Since only undamaged homes are selling, and are in |
| products and tourism. | | | | high demand, sellers have the ability to raise prices, |
| Even with the Katrina tragedy, Louisiana is still a center | | | | unlike the rest of the U.S. at this point. As the state is |
| for tourism. Even a flooded, destroyed New Orleans | | | | built back up and past residents continue to move |
| brings in more tourists than many other areas in the | | | | back, it seems likely that eventually Louisiana will |
| U.S. The state can be broken down into 5 regions. | | | | recover, the market will become more balanced and |
| Enjoy the world-famous New Orleans culture, music, | | | | stable, and home value will begin to appreciate again. |
| food, architecture and love of life in the Greater New | | | | |