Posts Tagged ‘Tangipahoa Real Estate’

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Cypress Reserve in Ponchatoula, LA

July 12, 2017

Cypress Reserve

Cypress Reserve is a new DR Horton Development happening in Ponchatoula, LA.  

New Homes Now Selling Now!!

Welcome Home to Cypress Reserve!

D.R. Horton’s Cypress Reserve is our newest community in Ponchatoula, Louisiana. Conveniently located to I-12, St. Tammany, Hammond and New Orleans. Ponchatoula was recently voted one of the “Best Places to Live”. This charming town is the epitome of southern living with names such as Antique City and Strawberry Capital. Ponchatoula is also host to the annual Strawberry Festival; the second-largest festival in Louisiana.

Cypress Reserve is a beautiful community with homes starting in the $160’s. Our plans range from approx. 1,320 – 3,173 sq ft. With over 30 floorplans to choose from, each one offers unmatched efficiencies, functional design innovation and superior craftsmanship all at affordable prices.

There is a good chance you will find the perfect home for you and your family.

Give me a call if you are interested in one of these beautiful properties and all the amenities of a top notch Subdivision Development.

Contact us Below for a List of All of the Floor Plans and Amenities

 

 

 

Craig Martin, Next Home Real Estate Professionals, Martin Team, Hammond, LA, Each office independently owned and operated. Licensed in LA, Cell:  985-507-9359, Office:  985-429-0777

www.tangiproperties.com

 

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Demand for New Basic Homes is Up in Hammond

March 3, 2010

The demand for new basic homes is up in Hammond and Ponchatoula.  Since first time homebuyers usually are limited in their budgets, many are opting out of a custom home and looking at purchasing basic homes with basic amenities in a reasonable price range, with plans of upgrading the home at a later time.  Four home builders in Tangipahoa Parish are gearing up to meet this demand: DSLD, DR Horton, Sunrise Homes and Southern Homes.  The builders can build a home anywhere from 45-100 days within a low to upper $100,000 price range and varying in size from 1100 to 2100 square feet.  This allows first time homebuyers to get their feet wet in the Hammond real estate pool without drowning and utilizing the tax credits available until the end of April 2010.

DR Horton is currently constructing homes in Wellington Estates (off Bankston Rd), Whispering Willows (Albany), the almost sold out Cabo Cove (off Firetower Rd) and Martinsville Estates (Natalbany).  They’re also looking at purchasing more land to build in Ponchatoula.

DSLD currently has five subdivisions under construction in Tangipahoa Parish: Arlington Place (South Range Rd, Ponchatoula), Villages at Bocage (Hwy 22 East, Tangipahoa/St. Tammany Parish line), Bedico Meadows (Hwy 22 East), Madison Trace (Hwy 22 W, Ponchatoula), Blythewood Estates (Brown Rd, Ponchatoula) and The Parc (Hammond).

Southern Homes is building a 230 home development called Pine Island in the Ponchatoula community.  They have five different plans to choose from and allow homes to be customized so that they don’t all look the same.

A new company to the area, Sunrise Homes is currently building Strawberry Fields Estates in Ponchatoula.  They plan on building a total of 82 homes in their subdivision.

It’s a good indicator that the demand for new basic homes is up in Hammond and the surrounding Tangipahoa Parish area.  You need to act fast, though, if you want to take advantage of the $8000 first time homebuyer tax credit before it is gone for good on April 30, 2010.

Yvonne Martin, the Martin Team, your Hammond real estate specialists

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What Tangipahoa Buyers and Sellers Should Know About Mortgage Points

August 19, 2009

Whether you are a buyer or seller, it is important to understand what mortgage points are and why or why not you should pay them.  Mortgage points are finance charges paid by the borrower.  However, sellers can pay the buyer’s discount points.

Two Types of Mortgage Points:

Origination points

  • Are a lender’s fee for the cost of giving the borrower a loan.
  • May be tax deductible if they are noted as a percentage on your closing statement.  A fee amount is not tax deductible.
  • Not all lenders charge origination points (fees) – always shop for the best mortgage terms available.
  • Typically, an origination point is 1% of the loan amount.  If you pay more than 1%, you may be overpaying for your loan.

Discount Points

  • A type of pre-paid interest or finance charge.
  • One point is equal to 1% of the loan amount.
  • Discount points are tax deductible.
  • One discount point should reduce your interest rate by .25%.
  • If your interest rate is not discounted, you are paying an additional lender fee.

Why do sellers need to know about discount points?

  • Because your buyer may ask you to pay for points when negotiating their offer.
  • The most important factor for sellers is not what a discount point is but how much it will cost you.
  • A discount point should not exceed 1% of the buyer’s loan, not the selling price of your home.

Why would a seller want to pay a buyer’s discount points?  Well, truthfully, no seller does.  However, today’s real estate market is in the buyer’s favor and this could be a “lose-the-sale” item. S o, the real question is: are you willing to lose the sale over the amount of money the buyer is asking you to pay?

Why do buyers need to know about discount points?

  • Buyers need to know if they are buying a discount on their interest rate or paying a lender fee.
  • Points add to the total funds needed by the buyer to close the sale of the property they are buying.

Why do buyers pay discount points?

  • To make qualifying easier by compensating for a credit score less than 740.
  • To obtain a lower interest rate.
  • A lower interest rate will decrease your payment about $20 (based on a loan amount of $165,000 at 5.25% vs. 5.5%).
  • A .25% lower interest rate will save you about $10,000 (based on a loan amount of $165,000 at 5.25% vs 5.5%).

Buying discount points may or may not be a good financial decision for the buyer.  This depends on your particular situation.  In the long run, a lower interest rate is beneficial.  To help you determine if paying points is a good financial move for you, use this handy calculator.  If you decide that paying points is best for your financial situation, remember that discount points are tax deductible even when they are paid by the seller.

Yvonne Martin, The Martin Team – Let My Family Bring Your Family Home to Tangipahoa Real Estate

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Tangipahoa Real Estate on the Rise

July 8, 2009

The real estate market is on the rise both here in Tangipahoa Parish and across the nation.  In Tangipahoa Parish, sales prices and activity are on the upswing and inventory is decreasing.  It looks like the bottom of the market has been reached and the Tangipahoa real estate market is on the road to a healthy recovery.

Financing is still a major factor which will influence our recovering market.  Loans are harder to get these days and large down payments are difficult for most.  FHA offers a 3.5% minimum down payment.  More realistically, the total funds need to purchase a home through FHA would be about 8-0% of the selling price.  Do keep in mind that the First-time Buyers Credit can be monetized when using FHA financing.  The Tax Credit can be used as an additional down payment and/or applied to closing costs.

USDA Rural Development still has 100% financing available to first-time buyers.  Buyers and property must meet certain guidelines, but this loan program is certainly one you will want to check out.

The Tax Credit, which will expire in a few months, is a real boon to first time buyers (anyone who has not owned a home in the past three years).  The tax credit does not have to be paid back and can be applied to 2008 or 2009 taxes.  In addition, if the first-time buyer does not monetized the full amount of the tax credit, the remaining balance can be applied when they file taxes.

To learn more about the First-time Tax Credit and new homeowners (no first-time buyer requirement) read my blog post:

First-Time Buyers Rejoice-Tax Credit and Tax Deductions Await

Yvonne Martin, The Martin Team, Let My Family Bring Your Family Home

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Rising Interest Rates are Good News for Everyone

June 17, 2009

Rising interest rates can affect both buyers and sellers.  Although you wouldn’t think it, rising interest rates can be good news for everyone in Tangipahoa Parish.

Rising Interest Rates – Good News For Sellers

    * When mortgage interest rates rise, buyers get motivated to buy (Citigroup).
    * When buyers get motivated to buy, home values stabilize.
    * When home values stabilize, home prices increase with activity.

Rising Interest Rates  – Good News For Buyers

    * When interest rates rise, buyers hear the wake up call: Now is the time to buy to get the most house for the money.  Higher interest rates affect buying power.
    * When interest rates rise, buyers hear the wake-up call: Now is the time to buy to avoid a higher mortgage payment later.  Higher interest rates increase the required mortgage payment for the same loan amount.
    * When interest rates rise, buyers hear the wake-up call: Now is the time to buy so that qualifying for a loan will be easier.  Higher interest rates affect income ratios.

Rising Interest Rates – Good News For Everyone

    * Rising interest rates are an indication that the credit crisis is easing (Times.com).
    * Rising interest rates are an indication that better economic times are ahead.
    * Rising interest rates are an indication that the recession is easy and things are improving (Economic Cycle Research Institute).

Rising interest rates never make consumers happy.  But after all the gloomy recent economic news, maybe it’s time to accentuate the positive.  Corporate America and the banks are faring better, as indicated by the improvement of the yield curve between Treasury Bills and Bonds.  This curve is what causes interest rates to rise and fall.  If rising interest rates are an indication that our economy is improving, then it is good news for everyone.

Yvonne Martin, The Martin Team, your Hammond real estate specialists