A client called me today looking for a two bedroom in the New Orleans Warehouse District between 240k where they generally start to the low to mid 300k price range.  I told her I would send her a list for the better units.  There were 16 units for sale but only three worth really mentioning that would be considered premium condos.

    I am seeing this more and more as less condos are put one the market and the better condos have been selling.  The inventory is not as deep as a buyers market would suggest in the sweet parts of the market.  I told her she would want parking, decent views and light, high ceilings, updated kitchen and baths, and in complexes that have the better locations.  I added people do not like first floor units in the Warehouse District. 

     Once you take the overpriced units out you were down to the two best units fairly quickly.   This is quite a change in the market over the last 3 months.  I did the same search type of search in the 150-170k in Metairie and came out with about the same results.  There are many more condos for sale in Metairie but getting down to the 5-6 better condos was not that hard.  

     I do have the advantage of seeing a lot and knowing the pitfalls of many of the condo associations.  The negatives may be high condo fees, hard to finance associations, and units that will have poor resale values.  The resale value is one of the most important factors buyers should be looking for when they buy.

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