Welcome to The Level Up Podcast with GNO Realty, your ultimate destination for all things real estate in the Greater New Orleans area!
Join us as we dive into the latest stats, news, forecasts, and entertaining interviews with industry professionals.
While homeowners have been at the forefront of Louisiana’s ongoing insurance crisis, landlords might face an even tougher battle.
As property insurance rates skyrocket across the state, landlords are increasingly feeling the squeeze, which in turn is pushing up rent prices for tenants.
Skyrocketing property insurance costs force landlords to raise rents, squeezing tenants
👀🎙️🎧New episode fresh out the studio... 👇
In this episode of The Level Up Podcast with GNO Realty, Braden L Smith - REALTOR and Ryan Curtis Rogers, Realtor provide a mid-year market update and dive into the local real estate market stats.
The New Orleans real estate market is a bit different than many other markets around the country. The national real estate stats don't apply to our local market and we give you the scoop on why things are different here in the New Orleans area and what exactly is going on in our market.
In this episode of The Level Up Podcast with GNO Realty, -realtor and provide a mid-year market update and dive in...
As a home seller, you have a wide range of choices when it comes to listing your home. Agents who are REALTORS® are a trusted source of advice and stand ready to help you navigate this complex process and make the choices that work best for you. NAR’s recent settlement has led to several changes related to broker commissions that benefit sellers, and we wanted to clearly lay them out for you.
Here is what the settlement means for home sellers:
- You still have the choice of offering compensation to buyer brokers. You may consider doing this as a way of marketing your home or making your listing more attractive to buyers.
- Your agent must conspicuously disclose to you and obtain your approval for any payment or offer of payment that a listing broker will make to another broker acting for buyers.
- This disclosure must be made to you in writing in advance of any payment or agreement to pay another broker acting for buyers, and must specify the amount or rate of such payment.
- If you choose to approve an offer of compensation, there are changes to how this can happen.
- You as the seller can still make an offer compensation, but your agent cannot include it on a Multiple Listing Service (MLS)—MLSs are local marketplaces used by both buyer brokers and listing brokers to share information about properties for sale.
- Your agent can advertise your listing via off-MLS platforms such as social media, flyers and websites.
- You as the seller can still offer buyer concessions on an MLS (for example, concessions for buyer closing costs).
These settlement practice changes will go into effect August 17.
NAR’s recent settlement has led to several changes related to broker commissions that benefit sellers. Agents who are REALTORS® are a trusted source of advice and stand ready to help you navigate this complex process and make the choices that work best for you.
Buying a home is one of the largest financial transactions most people will ever undertake. Agents who are REALTORS® are a trusted source of advice and stand ready to help you navigate your homebuying journey and make the choices that work best for you. NAR’s recent settlement has led to several changes that benefit homebuyers, and we wanted to clearly lay them out for you.
Here is what the settlement means for homebuyers:
- You will sign a written agreement with your agent before touring a home.
- Before signing this agreement, you should ensure it reflects the terms you have negotiated with your agent and that you understand exactly what services and value will be provided, and for how much.
- The buyer agreement must include four components concerning compensation:
1. A specific and conspicuous disclosure of the amount or rate of compensation the real estate agent will receive or how this amount will be determined.
2. Compensation that is objective (e.g., $0, X flat fee, X percent, X hourly rate)—and not open-ended (e.g., cannot be “buyer broker compensation shall be whatever the amount the seller is offering to the buyer”).
3. A term that prohibits the agent from receiving compensation for brokerage services from any source that exceeds the amount or rate agreed to in the agreement with the buyer; and,
4. A conspicuous statement that broker fees and commissions are fully negotiable and not set by law.
- Written agreements apply to both in-person and live virtual home tours.
- You do not need a written agreement if you are just speaking to an agent at an open house or asking them about their services.
- The seller may agree to offer compensation to your agent. This practice is permitted but the offer cannot be shared on a Multiple Listing Service (MLS)— MLSs are local marketplaces used by both buyer brokers and listing brokers to share information about properties for sale.
- You can still accept concessions from the seller, such as offers to pay your closing costs.
These practice changes will go into effect August 17.
NAR’s recent settlement has led to several changes that benefit homebuyers. Agents who are REALTORS® are a trusted source of advice and stand ready to help you navigate your homebuying journey and make the choices that work best for you.
Some positive news for the real estate industry! 🙌
🌟 New Podcast Episode Alert! 🎙️
In this episode of The Level Up Podcast with GNO Realty, your hosts Braden L Smith - REALTOR, and Ryan Curtis Rogers, Realtor discuss home values, list prices, and the state of the local real estate market in the Greater New Orleans area.
In this episode of The Level Up Podcast with GNO Realty, your hosts Braden L Smith and Ryan Curtis Rogers discuss home values, list prices, and the state...
The buying and selling of homes usually involve a lot of people. So, when home sales drop by more than 24 percent, which they have in the last year in the New Orleans metro market, the impact is deep.
Business connected to Nola real estate market feel impact of slumping sales
The New Orleans housing market stretches well beyond the city’s limits. It covers 10 parishes, and what’s happening within the market has realtors concerned.
According to the latest statistics from the New Orleans Metropolitan Association of Realtors, closed sales of homes have dropped 24.3% from June 2023 to June of this year.
The decline is a bit deeper in Jefferson Parish, where the sale of homes fell 26.2% year-over-year.
On the North Shore, home sales are down 20.9% in St. Tammany Parish.
The ever-increasing cost of property insurance in Louisiana is the biggest factor in the dramatic dip in sales.
Deep decline in homes sales in New Orleans metro housing market
There is a major gap between buyers’ expectations and home prices, according to recent surveys from NAHB and the U.S. Census Bureau.
While 38% of buyers expect to pay less than $250,000 for their next home, only 5% of homes that started construction in 2023 are actually priced under $250,000.
In contrast, the share of new homes being built that sell for above $250,000 is often far greater than the share of buyers seeking homes in that price range.
There is a major gap between buyers’ expectations and home prices, according to recent surveys from NAHB and the U.S. Census Bureau.
May’s pending home sales fell 2.1% from last month and decreased 6.6% from a year ago.
More homes are for sale, yet home buyers don’t appear to be in a rush. Pending home sales fell 2.1% in May, and are down nearly 7% from a year ago when home inventory was much smaller. https://www.nar.realtor/magazine/real-estate-news/home-buyer-opportunities-appear-to-be-opening-up
“It’s, basically, making living in a house that I own -- and I own outright -- impossible to stay here,” she said. “And I’m not the only one in New Orleans experiencing that. You can drive around this neighborhood and others and see a ton of ‘For Sale’ signs.”
It’s hard to pinpoint how many people in the New Orleans metro area are selling their homes because of rising insurance, but it’s something the local real estate market is noticing.
Cheron Brylski and her late husband bought home in 1995
“Our inventory conditions are, for the most part, improving across the U.S.,” says Hannah Jones, a senior economic analyst at Realtor.com.
The laws of supply and demand could kick in, Jones says, leading to slowing price growth, or even falling prices in some places.
“This summer and fall could be better in terms of more inventory, which could take some pressure off of prices, or at the very least, it could dampen price growth,” says Jones.
The number of homes for sale has scraped bottom for nearly five years—but in 14 U.S. markets, inventory is rising to pre-pandemic levels.
🏡 New Orleans, LA
👉 Median Home Price = $275,000
👉 Annual Income Required to Afford Median Priced Home = $75,003
👉 Median Monthly Mortgage Payment = $1,875
👉 Year Over Year Change = 15.1%
2024 Week 22 - What Home Buyers Must Earn to Afford a Home in the US Watch Me Viz - https://youtube.com/live/3YHenguEwP4?feature=share
Pending home sales decreased 7.7% in April, according to NAR. All four U.S. regions registered month-over-month and year-over-year decreases.
Learn more: https://bit.ly/3yByzqa
🌟 New Podcast Episode Alert! 🎙️
Hey everyone! We're thrilled to announce the release of our latest podcast episode. Dive into a fascinating discussion on insurance in Louisiana with our special guest, E.J. Giusti from Goosehead Insurance - E.J. Giusti III.
Braden L Smith - REALTOR, Ryan Curtis Rogers, Realtor, and E.J. Giusti discuss the following in this episode:
- What in the world is going on with insurance in Louisiana?
- What is causing the increases we are seeing?
- What is reinsurance?
- What are replacement costs?
- What are you seeing as ways to lower your premium while still having good coverage?
- What are the red flags?
- Are insurance carriers sending someone out to inspect homes?
- What about roofs? From what I know, no carriers in Louisiana will issue a policy on a property with a roof 15 years old or older. Is that still true?
- I’ve heard the carriers inspect roofs just 5 years old. Is that true?
- What are fortified roofs doing to premiums? How much discount are people getting after putting a fortified roof on their home?
- What about a wind mitigation survey? What kind of discounts can they provide?
Does the new governor and insurance commissioner have any plans in place to help with this situation?
Do you see any relief on the horizon?
Whether you're commuting, working out, or just relaxing at home, this is an episode you won't want to miss!
👉 Watch it now on YouTube: https://youtu.be/brTIVUSAso8?si=n_PqlhNz5Ah34Ar_
Don't forget to like, share, and subscribe to stay updated with our latest content. Let us know your thoughts in the comments!
Happy listening! 🎧✨
Website: In this episode of The Level Up Podcast with GNO Realty, your hosts Braden L Smith and Ryan Curtis Rogers review the current market stats as usual...
The median U.S. home sale price rose 6.2% year over year in April to $433,558—the highest level on record.
The median home sale price rose 6% year over year to $434,000 as a lack of new listings buoyed housing costs.
🏡👀🤔
ATTOM, a leading curator of land, property, and real estate data, today released its annual analysis of the best days of the year to sell a home, which shows that based on home sales over the past 13 years, the months of May, February and April offer the highest seller premiums – making this month the time to sell your home.
Maximize your home's value! New data reveals May as prime selling month with a 13.1% premium. Find the best days & months to sell your home.
The Level Up Podcast with GNO Realty - Episode 21: Is there a surplus of available rentals in New Orleans and the surrounding area?
Tune in to The Level Up Podcast with GNO Realty with GNO Realty, your trusted source for expert insights into the Greater New Orleans real estate market. Join Braden L Smith - REALTOR, co-owner of GNO Realty and owner of REvitalize Property Solutions, a local investment and development firm, and Ryan Curtis Rogers, Realtor, a licensed REALTOR® with extensive knowledge of the New Orleans area.
This month's episode dives into the rental market in New Orleans and the surrounding areas. It seems like there may be a surplus of available rentals in the area so Braden L Smith and Ryan Curtis Rogers dig into the data to see if this is true or not, and discuss what they are seeing out there in the real world each and every day. They discuss rental availability, rental pricing, some potential factors affecting the rental market, and more. Tune in to get all the details on the local rental market!
Find us on the web:
GNO Realty - https://gnorealty.com/
REvitalize Property Solutions- https://www.revitalizepropertysolutions.com/
🎧 Tune in to The Level Up Podcast 🎙️ with , your trusted source for expert insights into the Greater New Orleans real estate market. Join ...
Mitch Roschelle, managing director at Madison Ventures+, said "it couldn’t be a worse time of year" as mortgage rates hit their highest level since November.
"The timing is awful," Roschelle stressed during his appearance on "Varney & Co." Thursday. "There is a little bit of supply on the market. So, I really feel for those first-time buyers who are hitting the streets right now looking for homes."
While the average 30-year-fixed rate mortgage sits at 7.375%, Roschelle predicts that rates will "likely" increase.
Hidden homeownership costs are also being subjected to the wrath of inflation.
"Insurance is a huge issue. Property taxes are going up all over the place. So, these are real costs," Roschelle stressed.
The real estate expert told host Stuart Varney that homebuyers are not beside themselves as landlords are feeling the heat of rising costs.
Madison Ventures+ managing director Mitch Roschelle sees no signs of mortgage rates dropping as he urges homebuyers to change perspective on how to buy.
🐰 Hoppy Easter! 🐣 Whether you're hunting for eggs or simply indulging in sweet treats, may your day be filled with happiness and sunshine! 🌞🍬
Tune in to The Level Up Podcast with GNO Realty, your trusted source for expert insights into the Greater New Orleans real estate market. Join Braden L Smith - REALTOR, Co-Owner | Associate Broker | REALTOR® at GNO Realty and owner of REvitalize Property Solutions, a local investment and development firm, and Ryan Curtis Rogers, Realtor, a licensed REALTOR® with GNO Realty who has extensive knowledge of the New Orleans area.
This month's episode tackles a hot-button topic: the National Association of REALTORS® proposed settlement and its potential impact on the future of real estate. Braden and Ryan offer a nuanced analysis, exploring the implications for agents, buyers, sellers, and the industry at large. Whether you're contemplating a future real estate transaction or simply curious about market trends, this episode provides valuable information to help you navigate the ever-evolving landscape. Level Up your understanding of the New Orleans real estate market with GNO Realty and The Level Up Podcast!
Tune in to The Level Up Podcast with GNO Realty, your trusted source for expert insights into the Greater New Orleans real estate market. Join Braden L Smit...
The residential real estate market trends in New Orleans Metro have remained the same through the second month of 2024 with sales prices holding strong, inventory increasing, days on the market climbing, and the number of closed sales remaining sluggish to begin the year.
Data is compiled from Orleans, Jefferson, St. Tammany and St. Charles Parishes.
CHANGE IN COUNTY-LEVEL HOME PRICES SINCE EACH COUNTY'S RESPECTIVE PEAK IN 2022
Pulled from the Lance Lambert House Price Tracker
Orleans Parish: -13.2%
Jefferson Parish: -15.7%
St Tammany Parish: -6.5%
St Bernard Parish: -10.7%
Plaquemines Parish: -5.4%
St Charles Parish: -8.0%
Tangipahoa Parish: -10.0%
Almost every parish in Louisiana is down... 😕
Interactive Map:
Pulled from the Lance Lambert House Price Tracker
Interesting data from The Data Center... 🤔
💰 The 2022 median household income of for the metro was $61,602, for Jefferson Parish $61,397, and for the city of New Orleans, $52,322.
These incomes are all significantly lower than the U.S. median of $74,755.
Read the full report at https://i.mtr.cool/flfnhfbjad
🤩 Hey everyone out there in listener land... we just dropped another episode! 🙌
🎙️ In this episode of The Level Up Podcast with GNO Realty, your hosts Braden L Smith - REALTOR, and Ryan Curtis Rogers, Realtor dig into the current market stats in a new way that is more accurate and provides better insight into what is actually going on in the Greater New Orleans Real Estate Market.
🎧 This episode also features a special guest, Courtney Fricke, Your Local Real Estate Solution, who is a local real estate investor who specializes in solutions-based real estate investing and creative deals. Braden and Ryan discuss what Courtney is seeing in the local market from her unique viewpoint and we go over some proactive ways that homeowners and investors can combat some of the challenges in the local market.
🧐 Topics discussed with Courtney:
👉 Insurance is our area's biggest issue.
- Call your insurance agent and ask what adjustments can be made to get the premium down
- Shop around for a cheaper policy
- Raise deductible
- Reduce coverage(s)
- Wind mitigation survey
- Let them know of any improvements such as a new roof, new windows, etc
👉 Seeing more people in pre-foreclosure
- Be proactive and reach out for help
👉 Rental property owners seeing cash flow decimated
- Raise rents
- Shop insurance for cheaper options
- Adjust insurance coverage(s) and/or increase deductible
- Reach out for help
👉 2024 reassessment for property taxes
- You can contest it
- Each parish has a different process
📇 Contact information for Courtney Fricke:
🛜 Website - www.CourtneyFricke.com
📧 Email - [email protected]
📇 Contact information for Braden Smith:
📲 Mobile: 504-621-1729
📧 Email: [email protected]
📇 Contact information for Ryan Curtis Rogers:
📲 Mobile: 504-430-0324
📧 Email: [email protected]
In this episode of The Level Up Podcast with GNO Realty, your hosts Braden Smith and Ryan Curtis Rogers dig into the current market stats in a new way that i...
The state's new insurance commissioner painted a rough picture today about Louisiana's high rates for policies.
"Move to our state, and your auto insurance doubles. Move to our state, and your homeowner's insurance will triple," Tim Temple told the Louisiana Association of Business and Industry.
In his address, he said there is no state with more expensive insurance.
"Louisiana is the most unaffordable state in America for insurance... we spend more of our hard-earned dollars on insurance than any other state."
He pledged that his department would work diligently to turn things around.
“Move to our state, and your auto insurance doubles. Move to our state, and your homeowner’s insurance is going to triple,” Tim Temple told the Louisiana Association of Business and Industry.
Hey guys! Braden L Smith - REALTOR here... We are back at it after a bit of a hiatus and we have a new co-host, Ryan Curtis Rogers, Realtor… who just so happens to be another bald bearded guy like myself! 🧑🏼🦲😂
🙌 Here is our first episode of 2024, "New Orleans Housing Market 2023 Recap & 2024 Expectations”.
👉 In this 2023 recap, we break down key market stats like price drops, inventory changes, and analysis for buyers and sellers. Also revealed - New Orleans home value predictions for 2024 and expert tips to navigate the current landscape of high mortgage rates and slowing sales. Whether you're looking to buy, sell or invest in the Big Easy, tune in to decode stats like months of supply, list to sale price ratios, median days on market, and more. Walk away with an information edge to make smart moves in NOLA's housing market this year.
🤩 We will be putting out one episode a month at minimum, so follow along as we dive into the world of real estate here in the Greater New Orleans area. Our goal is to provide you with all the information you need to navigate our local real estate market whether you are looking to buy, sell, or invest in real estate.
Get the inside scoop on New Orleans real estate with hosts Braden and Ryan. In this 2023 recap, we break down key market stats like price drops, inventory ch...
🌟 Exciting News Alert! 🌟 After a brief hiatus, we're thrilled to announce that new episodes of The Level Up Podcast with GNO Realty are coming soon! 🎙️🎉 But that's not all - we have a fantastic new co-host joining the team! Get ready to level up your real estate knowledge and insights with our dynamic new lineup. Stay tuned for more updates and get ready to Level Up with us!
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Metairie, LA
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Average Days on Market is increasing and that’s means a reprieve for buyers.
Low unemployment bodes well for our housing market. Today's conditions are much more favorable than the ones seen in 2008. Youtube Link:https://youtu.be/kWMcWGlC8XY Apple Podcasts: https://podcasts.apple.com/.../level-up-with.../id1552718199 Spotify: https://open.spotify.com/show/4hoHd26d2LHEoPTrvRkWqi Anchor: https://open.spotify.com/show/4hoHd26d2LHEoPTrvRkWqi
It's hard to foreclose on properties when homeowners have gained so much equity in the last few years. Make sure you're subscribed on YouTube or anywhere else you get your podcasts. Braden L Smith - Realtor Chuck Stall - REALTOR Youtube Link:https://youtu.be/kWMcWGlC8XY Apple Podcasts: https://podcasts.apple.com/us/podcast/level-up-with-gno-realty/id1552718199 Spotify: https://open.spotify.com/show/4hoHd26d2LHEoPTrvRkWqi Anchor: https://open.spotify.com/show/4hoHd26d2LHEoPTrvRkWqi
Lending regulations are a major layer of protection from another 2008 housing crisis. Braden L Smith - Realtor goes into detail with co-host Chuck Stall - REALTOR on what exactly has changed. GNO Realty #lending #mortgage #neworleans #neworleansrealestate #housingmarket
In Episode 12, Braden L Smith - Realtor and Chuck Stall - REALTOR discuss why low inventory is actually helpful when preventing a housing crisis like the one in 2008. #realtor #neworleans #neworleansrealestate #housingmarket #housinginventory
Check out this month's #marketstats 📈💰🏡 For the Full Episode check out our YouTube Page 🖥: https://youtu.be/kWMcWGlC8XY Listen on ⚓️ https://anchor.fm/gno-realty where you can also leave us a voicemail 📞 Apple Podcasts 📱 https://podcasts.apple.com/us/podcast/the-level-up-with-gno-realty-podcast/id1552718199 Spotify 🖥 https://open.spotify.com/show/4hoHd26d2LHEoPTrvRkWqi Braden L Smith - Realtor Chuck Stall - REALTOR
The latest installment of the podcast is available with special guest Chad Ravannack. Braden L Smith, GNO Real Estate Expert Chuck Stall - Realtor®
🏠📈💵 The latest episode is available on YouTube or anywhere you get your podcasts! On this installment Braden L Smith, GNO Real Estate Expert and Chuck Stall - Realtor discuss what home-improvement projects can yield the highest return on investment. As always they discuss the latest in market stats and trends in the New Orleans area. #LevelUp with us and be sure to go back and catch any episodes that you have missed. https://youtu.be/zDgqj8sbS0s
Episode 4 - Listing a Property in 2021
Braden Smith and Chuck Stall return for the third installment of The Level Up with Gno Reality Podcast. In this episode, the guys take buyers through the inspection period through closing.
Braden and Chuck take a look at what the first steps to owning a home, a look back on some of the trends of 2020, and a 2021 market forecast for buyers and sellers. Make sure to leave us a voice message with any questions via our anchor.fm page. You can email Braden [email protected] [email protected]
All Over The Road: New Orleans - Podcast
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