New Orleans Real Estate is Doing Very Well
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New Orleans real estate market is doing very well these days as speculators and optimists are buying up homes in the city and surroundings.
The market is not sizzling hot, at least by comparison to New York and San Francisco in recent years. Still, it is stronger than anyone might reasonably expect four months after Hurricane Katrina, with prices for houses in many areas at or above prestorm levels.
“Right after the storm, if I had heard myself talking like I am now, about setting records in some offices and posting three record-breaking months in a row, I would’ve wondered what Kool-Aid this guy was drinking,” said Arthur Sterbcow, the president of Latter & Blum, an 89-year-old New Orleans real estate firm that bills itself as the largest on the Gulf Coast. “But every day it gets crazier and crazier in a positive way.” The last few months of 2005, Mr. Sterbcow said, have proven to be “the best period in the history of our company.” via New York Times
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