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Texaco Building on Canal Street Renovation Financing Approved
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Texaco Building on Canal Street Renovation Financing Approved
In New Orleans, the city is still recovering from Hurricane Katrina by not only rebuilding buildings that were flooded but by also renovating buildings that experienced damage during the storm - damage that was not worth fixing back to the original building usage. The Texaco Building in New Orleans is an example of one of the noted renovation transformations in the Greater New Orleans area. Not only will the building be renovated and brought back to life in a city that is still struggling to overcome blight, but this building will also provide housing for residents in town. The housing will be in the form of renovated condos and will sell for around $297,000/unit average price.
Nation's Top Site-Selection Consultants Rank Louisiana One Of The Top States for Business In The U.S.
St. Tammany Parish Residents to See Reduced Flood Insurance Costs Due to New Rating
A savings of $1.9 dollars will be coming to St. Tammany Parish homeowners on their flood insurance costs. The Community Rating System classification for St. Tammany Parish went from a Class 9 to a Class 7. This is good news for buyers that are just purchasing new homes for sale as well in St. Tammany Parish. Builders will also be able to tell their buyers about this break in insurance costs in order to incentivize some buyers that may still be debating on whether or not to buy a new home from a builder in St. Tammany Parish. All-in-all, this is good news for the housing market in Mandeville, Covington, Madisonville, and Abita Springs, Louisiana.
Attention, Lawmakers: Taxpayers Oppose Ditching Mortgage Interest Deduction
Most homeowners are strongly opposed to legislation that is being debated in Congress right now about losing their homeowner's interest deductions on the home that they purchased and have owned for some time. To think that most homeowners don't itemize their taxes and make use of the mortgage interest deduction is just plain foolishness. A USA Today/Gallup poll shows that out of 60 - 61 percent of people that would like to reduce the federal deficit, losing their mortgage interest deduction is NOT the way to do it.
Mortgage Interest Deduction Vital to Housing Market
What is the reason to own a home besides stability and having a place to live that you can call your own - that you can take pride in? The facts are clear. One of the reasons to own your own home is the deduction that you can take on mortgage interest. Now Congress is trying to take away one of the one things that helps reduce the self-employed and even payroll employed employees taxes - the mortgage interest deduction. One of the main "sellers" for builders is the fact that when you own your own home, you can 1) build equity and 2) get a big tax break from the interest. There are many reasons NOT to throw your money away in rent and buy a home instead, but losing the mortgage interest deduction would have a huge impact on those other reasons and slow down what is already a crawling housing market.
St. Tammany Parish Considering Plan to Give Credits to the Owners of Land It Wants to Keep Out of Commerce
Insurance Commissioner Jim Donelon Says Insurance Market is Competitive Again
Donelon, Louisiana's Insurance Commissioner has come out with some really good news - homeowner's insurance is starting to be affordable again. Now, you will have to do your homework, but to find a reasonable rate for your home is doable if you have the time and patience to shop around. After Katrina, insurance prices skyrocketed, but it seems that the homeowner's insurance market has started to stabilize, which is good news for builders - just one more way that home buyers can afford to buy a new home in Louisiana.
LSU Researchers to Gather Data About Flood Insurance Maps in Slidell, Mandeville
St. Tammany Parish is questioning whether or not the flood insurance survey maps, which ultimately determine what flood insurance rates will be be for all areas of St. Tammany Parish are accurate. In 2009, St. Tammany Parish rejected a proposed flood insurance map, and they are now polling random resident homeowners in St. Tammany Parish, specifically Mandeville and Slidell, as to whether or not the rates/values of their flood insurance plans are up to par. Also, the survey is trying to determine the cultural and economic impacts of the flood insurance policies and if the rates and structures of the policies are working for current homeowners in Mandeville, Louisiana and Slidell, LA. Results will determine how the insurance rate structure will be in the future of St. Tammany Parish.
New Orleans One of Top 10 Metros for Corporate Facility Location
The Greater New Orleans area has been ranked in the top 10 metro areas in the United States that has the most new corporate facility locations. Also, Louisiana national economic development projects was ranked third best in the U.S. behind TX and OH. This rankings are part of the Governor's Cup project rankings which rank the amount of business development projects in a calendar year. New Orleans, Louisiana is building back after Hurricane Katrina and is now receiving recognition for its growth. Now is a great time to relocate and buy a new home in the Greater New Orleans area.
Building Permits, Unemployment All Solid Economic Indicators For St. Tammany
St. Tammany Parish is maintaining a competitive edge for businesses looking to relocate to another location. Their numbers of employment vs. unemployment, new business starts, housing starts, building permits, and retail financial stability have given them a reliable status for people looking to relocate their business or their families to the Greater New Orleans Area. The Economic Development Foundation's quarterly Trends Report was released at the end of January, 2011, and confirms that St. Tammany Parish is "in the black" status-wise and should continue to show strong stability during these uncertain economic times.
St. Tammany Parish to Institute Paperless Permitting System
St. Tammany Parish now has a computerized system for filing building permits for St. Tammany Parish. Under the new system, new home builders in St. Tammany Parish will be able to avoid the long and arduous process of getting their building permits for building new homes in the parish. St. Tammany Parish includes the cities of Mandeville, Covington, Madisonville, Abita Springs, Lacombe, Slidell, and Pearl River. These builders in these cities will now have an easier time of permitting their new homes that they build as well as completing and selling their new homes on the northshore of Lake Pontchartrain in the Greater New Orleans area.
Eliminating Mortgage Interest Deduction Would Raise Taxes for the Middle Class
The middle class will suffer if measures are taken by Congress in legislature to eliminate the tax-deduction for interest on owning a home. This article enumerates points from the NAHB's (National Association of Home Builders) study about eliminating the mortgage interest and the tax deductions associated with this elimination.
