The Home Buyer's Korner

Information presented should be used for educational purposes only.

June 22nd, 2016

Guy looking up in color

GREATER NEW ORLEANS, LOUISIANA

East New Orleans

Dwyer Rd/Mayo Blvd 70126 Neighborhood

The Home Buyer’s Korner

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Mortgage Lender

General Contractor G+

BUILDING THE DREAM OF HOME OWNERSHIP

Farwood Dr New Orleans LA 70126

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The median real estate price in the Dwyer Rd/Mayo Blvd (Michoud – Norwood Court – West Lake Forest – Westlake) neighborhood of New Orleans, Louisiana is $144,900, which is more expensive than over 55 percent of the neighborhoods in the state and more than 39 percent of the neighborhoods in the country.

The average rental price in Dwyer Rd/Mayo Blvd is currently $975 a month, and the average rental cost in this neighborhood is higher than over 62 percent of the neighborhoods in the state. Most of the residential real estate is occupied by a mixture of owners and renters

Dwyer Rd/Mayo Blvd area is a suburban neighborhood located in New Orleans, Louisiana, and primarily made up of small studios to two bedroom to medium sized three or four bedroom single-family homes and other multi-family housing options like condominiums, town homes, duplexes and apartments. Many of the residences in the Dwyer Rd/Mayo Blvd neighborhood are established, but not old, having been built between 1970 and 1999, while a number of residences were built between 1940 and 1969. 

Most neighborhoods are composed of a mixture of ages of homes, but the Dwyer Rd/Mayo Blvd neighborhood stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999. What you’ll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same architecture and similar in age. In fact, nearly 92 percent of the residential real estate here was built in this one time period.

Despite all of the residential real estate here in the Dwyer Rd/Mayo Blvd neighborhood, much of it is vacant. Vacant homes and apartments are a fact of life in the Dwyer Rd/Mayo Blvd neighborhood, and the current real estate vacancy rate here is 34 percent. One reason could me  that the area has a large number of second-homes, and in such cases, high vacancy rates naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. To understand more about this neighborhoods vacancy rate and its effects on your home buying or selling options, consult your real estate agent.

Single parenting is hard. But you don’t have to tell the Dwyer Rd/Mayo Blvd neighborhood about it; they already know with nearly 31 percent of this neighborhood’s households run by single mothers. For those moms looking to get ahead, consider home ownership with the FNMA My Community MortgageFHAFHA 203K or FNMA HomeStyle Renovation loan programs. These home financing tools could be one of the best things you could do for your family.

Your future neighbors in the Dwyer Rd/Mayo Blvd neighborhood of New Orleans earn modest incomes, and this neighborhood has an income lower than 93 percent of neighborhoods nationwide. 

In the Dwyer Rd/Mayo Blvd neighborhood, 36 percent of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with nearly 28 percent of the residents employed. Other residents here are employed in executive, management, and professional occupations at over 19 percent, and more than 17 percent in clerical, assistant, and tech support occupations.

Each has its own culture derived primarily from the ancestries, and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture, some more unique than others, based on lifestyle, occupations, the types of households, and importantly on the ethnicity and ancestry of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Dwyer Rd/Mayo Blvd neighborhood in New Orleans, LA, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African at five percent, while over two percent has French roots.

The most common language spoken in the Dwyer Rd/Mayo Blvd neighborhood is English, spoken by nearly 96 percent of households, while almost four percent speak Spanish.

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LOUISIANA HOME OWNERSHIP TOOLS

Your Home Purchasing or Refinancing & Renovation Tools,

Home Improvements, Home Renovations,

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase.

Here are just a few of the home improvements

you might consider with any Home Renovation loan

Repair or replace a roof

Install, replace or repair gutters and downspouts

Replace, repair or upgrade your HVAC system

Repair or replace plumbing

Install, repair or replace electrical systems

Kitchen remodeling (including the purchase and installation of appliances)

Bathroom remodeling, Full interior painting, Total exterior painting

Repair or replace a septic system and/or well

Disability access (wheelchair ramp, elevator, widen doorways)

Build, repair or replace deck, patio or porch

Basement waterproofing and finishing

Abatement/Stabilization of lead-based paint hazards

Replace old windows, Room additions, Finish an attic

Add a second story to your home

Replace a termite damaged sill plate (a water-damaged sill plate also)

Possible landscaping items such as correction of grading & drainage problems,

tree removal, repair a driveway and sidewalks

FHA 203K

Your Home Purchasing or Refinancing & Renovation Tool

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

FANNIE MAE HOMESTYLE

The Conventional Alternative to FHA 203K

Great for Real Estate Investors and Second Home Renovations

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

FANNIE MAE HOMEPATH RENOVATIONS

Rebuilding the Dream of Home Ownership

Fannie Mae HomePath has No Mortgage Insurance up to 95% LTV

Up to $35K for Home Improvements, Renovations or a Simple Remodel

Mortgage Loan Officers, Real Estate Agents & General Contractors are ready to assist you with your home purchase

USDA RURAL DEVELOPMENT

Up to $10K for Home Improvements, Renovations or a Simple Remodel

Mortgage Loan Officers, Real Estate Agents & General Contractors are ready to assist you with your home purchase

A SIMPLE HOME SHOPPING INSPECTION TOOL

Organizing your home shopping experience affords a wise decision-making process.

This simple home inspection tool makes your ultimate buying decision a smart one.

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70126 Michoud – Norwood Court – West Lake Forest – Westlake

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