The Home Buyer's Korner

Information presented should be used for educational purposes only.

July 1st, 2016

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GREATER NEW ORLEANS, LOUISIANA

Little Woods

Morrison Rd/Lake Willow Dr 70126 Neighborhood

The Home Buyer’s Korner

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BUILDING THE DREAM OF HOME OWNERSHIP

Neptune Ct New Orleans LA 70126

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The median real estate price in the Morrison Rd/Lake Willow Dr (Little Woods – Springlake – Lake Willow) neighborhood is $169,225, which is more expensive than over 70 percent of the neighborhoods in the state and more than 48 percent of the neighborhoods in the country.

The average rental price in the Morrison Rd/Lake Willow Dr neighborhood is currently $1000 a month, and the average rental cost in this neighborhood is higher than nearly 65 percent of the neighborhoods in Louisiana.

Morrison Rd/Lake Willow Dr area is an urban neighborhood located in New Orleans, Louisiana, and the real estate is primarily made up of small studios and two bedroom to medium sized three or four bedroom single-family homes and other multi-family options like condominiums, town homes, duplexes, and apartments.  Many of the residences in the Morrison Rd/Lake Willow Dr 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 Morrison Rd/Lake Willow Dr 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 are of the same architecture and is similar in age. In fact, 90 percent of the residential real estate here was built in this one time period.

Vacant homes and apartments are a fact of life in the Morrison Rd/Lake Willow Dr neighborhood of New Orleans and the current real estate vacancy rate here is nearly 26 percent.  To understand this neighborhood’s vacancy rate and its effects on your home buying or selling options, consult your real estate agent.

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its flair. Some places look the same, but they only reveal their true character after living in them for a while, and why it’s so important to learn all you can before calling a neighborhood home. 

Single parenting is hard and you don’t have to tell the residents of the Morrison Rd/Lake Willow Dr neighborhood about that; they already know with over 21 percent of this neighborhood’s households are 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.

Would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. The Morrison Rd/Lake Willow Dr neighborhood is a fantastic option for bicycle commuters, as over three percent of commuters here do ride their bikes to and from work on a daily basis.

Your future neighbors in the Morrison Rd/Lake Willow Dr neighborhood of New Orleans earn modest incomes, and this neighborhood has an income lower than over 97 percent of all other neighborhood in America.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Morrison Rd/Lake Willow Dr neighborhood, over 51 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 clerical, assistant, and tech support occupations, with at nearly 20 percent of the residents employed. Other residents here are employed in executive, management, and professional occupations at over 19 percent, and almost 10 percent in manufacturing and laborer occupations.

Culture is shared learning behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture, our learned behavior, comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand. Places with concentrations of people of one or more ancestry often express those shared learned behaviors and this gives each neighborhood its own culture.

In the Morrison Rd/Lake Willow Dr neighborhood in New Orleans, LA, residents most commonly identify their ethnicity or ancestry as Scots-Irish at one percent. The most common language spoken in the Morrison Rd/Lake Willow Dr neighborhood is English, spoken by nearly all households.

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Little Woods – Springlake – Lake Willow

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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 Little Woods – Springlake – Lake Willow

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