The Home Buyer's Korner

Information presented should be used for educational purposes only.

July 4th, 2016

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GREATER NEW ORLEANS, LOUISIANA

Gentilly

Press Drive/France Rd 70126 Neighborhood

The Home Buyer’s Korner

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BUILDING THE DREAM OF HOME OWNERSHIP

Congress Dr New Orleans Louisiana 70126

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The median real estate price in the Press Drive/France Rd (Gentilly – Pontchartrain Park) neighborhood of New Orleans, Louisiana is $163,300, which is more expensive than over 66 percent of the neighborhoods in the state and more than 46 percent of the neighborhoods in the country.

The average rental price in the Press Drive/France Rd (Gentilly – Pontchartrain Park) neighborhood is currently $1,155 a month, and the average rental cost in this neighborhood is higher than nearly 81 percent of the neighborhoods in Louisiana. Most of the residential real estate is owner occupied.

Press Drive/France Rd (Gentilly – Pontchartrain Park) area is a suburban neighborhood located in New Orleans, Louisiana is primarily made up of medium sized three or four bedroom to large four, five or more bedroom single-family homes and other multi-family housing options like condominiums, town homes, duplexes, and apartments.

Pontchartrain Park was conceived during a time of racial segregation. The neighborhood, which was originally surrounded by lakefront developments that had exclusively served white resident became a symbol of expanding residential opportunity for African Americans. The subdivision broke ground in 1955, and known as one of the earliest African American suburbs in America.

Pontchartrain Park was designed for middle and upper-class African Americans who were attracted to its modern suburban homes, as well as a professional residential community, and many black Creoles left the older city neighborhoods to settle in the area.

Designed by the W.H. Crawford Corporation on what had previously been a cypress swamp, this neighborhood features single-family homes, mostly in the California Ranch style on standard suburban lots. The houses were built on low-lying, reclaimed land with at-grade concrete slabs, making them vulnerable to flooding, so flood insurance is something to be considered and will most likely be required by your lender.

At the center of the neighborhood is the Pontchartrain Park, covering approximately 183 acres.

Southern University, a historically black college, opened a campus in the northwest corner of Pontchartrain Park in 1959.

Many of the residences in the Press Drive/France Rd (Gentilly – Pontchartrain Park) neighborhood are older, well-established, built between 1940 and 1969, while a number of residences were built between 2000 and the present.

Vacant homes and apartments are a fact of life in the Press Drive/France Rd (Gentilly – Pontchartrain Park) neighborhood, and the current real estate vacancy rate here is over 21 percent. To learn more about this neighborhood’s vacancy rate and its effects on your home buying and selling options, consult your real estate agents.

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flair, can make all the difference when choosing a neighborhood to call home. 

Your future neighbors in the Press Drive/France Rd (Gentilly – Pontchartrain Park) neighborhood in New Orleans earn  modest incomes, and this neighborhood has an income lower than in over 88 percent of all the neighborhoods in the country. 

In the Press Drive/France Rd (Gentilly – Pontchartrain Park) neighborhood, nearly 32 percent of the working population is employed in clerical, assistant, and tech support occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with almost 24 percent of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants over 23 percent, and just over 21 percent in executive, management, and professional 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 other ancestry often express those shared learned behaviors and this gives each neighborhood its own culture. 

In the Press Drive/France Rd (Gentilly – Pontchartrain Park) neighborhood of New Orleans, Louisiana, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African at over 10 percent, and residents who report Jamaican roots at more than five percent, and some of the residents are also of English or Italian ancestry at nearly two percent, among others.

The most common language spoken in the Press Drive/France Rd (Gentilly – Pontchartrain Park) neighborhood is English, spoken by nearly 97 percent of households.

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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 Gentilly – Pontchartrain Park

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