Yo Joe! The state of New Orleans real estate today

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I’m Joe Gerrity, local businessman, investor and Real Estate Broker. For my Yo Joe! column, I’ll be answering your real estate questions and providing market information special to New Orleans.

I believe the main responsibilities of a Realtor are to add value and facilitate mutually beneficial transactions. Now more than ever, I hope to help our community make the most informed decisions for planning their housing futures.

Yo Joe! Are sellers still listing their homes during this time?

Let me begin by stressing how unprecedented this situation is. People are going to react differently in times of uncertainty, depending on their individual circumstances, both personally and financially. For many, plans were already set in motion to move for school, work, or a number of other reasons. This is true for both sellers and buyers. Ultimately, life must go on, and moving is still a very real necessity for a lot of people.

Our ultimate goal is to help the New Orleans community make more informed decisions about their housing future. We created the following graphic to provide a 30-day snapshot of how the local real estate market is faring.

 

Yo Joe! When showing a property to a client, what precautions are your real estate brokerage Satsuma Realtors taking to abide by social distancing mandates and sanitation maintenance?

Like so many others, we have closed our office and asked our team to work remotely. Additionally, we have heeded the advice of medical professionals and government mandates to take all the necessary steps of social distancing standards. If you have concerns about meeting an agent in person or entering an occupied property, we are happy to do video meetings or conduct virtual tours on your behalf and send them digitally.

We encourage anyone who wants to view a property to get in touch with us and tell us if they have any concerns so that we can make proper arrangements ahead of time. Our team is working through the unique challenges that we’re all facing, and we’re ready to work together to make the process as seamless as possible!

Yo Joe! I have savings. Should I consider buying while the mortgage rates are good?

It’s always better to buy a house when the mortgage rates are good, as long as you’re aware that these are uncharted waters and the market is unpredictable. If you’re fortunate enough to have job security, and finances aren’t an issue, there are opportunities out there that others may miss out on with a less competitive market.

I’d encourage anyone to talk with their financial advisers first, and if they are confident in their position, reach out to a Realtor to see what is on the market. Keep an open mind about your options and consider how they can ultimately influence your future.

You Know Joe?

Joe Gerrity is the Broker and managing partner of Satsuma Realtors, a full service New Orleans real estate brokerage located at 4505 Magazine St. He is also the managing partner of Big Easy Buyers, and a founding partner of both Crescent City Vape and Simply CBD.

In a past life, Joe was a contributing sportswriter to ESPN. Learn more at wesellnola.com or email Joe a question at joe@wesellnola.com.

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