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   <title>New Orleans Kenner Metairie River Ridge Real Estate Ormond Destrehan</title>
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   <updated>2007-07-16T23:18:22Z</updated>
   
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<entry>
   <title>Donna’s Dozen Real Estate Tips to Get Best Price,Terms &amp; Conditions In New Orleans Area</title>
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   <published>2007-07-11T16:55:31Z</published>
   <updated>2007-07-16T23:18:22Z</updated>
   
   <summary>In order to purchase real estate at the best possible price certain fundamentals should be followed. I will outline those fundamentals in this article, however, not all of these recommendations work all of the time.These ideas have been developed over...</summary>
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      In order to purchase real estate at the best possible price certain fundamentals should be followed. I will outline those fundamentals in this article, however, not all of these recommendations work all of the time.These ideas have been developed over my 24 year career in real estate and some have been learned from those who have in excess of 4 decades of real estate brokerage. They work !

There are exceptions to every thing outlined here, however, most of these ideas are of value most of the time. Nothing works all of the time.

      1. If at all possible have your offer prepared on a word processor or at the very least  have it typed. Handwritten offers are at times difficult to read and may easily be misconstrued or misunderstood. Clear, concise purchase agreements prepared on a word processor convey a business like impression and are definitely more well received by the listing broker. He or she may have to convey your offer via fax and  it will be vastly easier to read and far more easily understood.

2. If at all possible, insist that your agreement to purchase be delivered to the listing broker in the original, not by fax. It will be more easily read, easy to convey and all parties will find it much easier to respond to. Minor changes can be entered on the original, initialed by appropriate parties and again the agreement should be clear to all parties. When possible avoid counter offer forms as they add to the number of documents in a transaction which must be monitored,

 3. As a general rule make your offer binding and irrevocable for no more than 24 hours. I have found that on occasion the public feels that more time should be  given, in order to make the seller not feel rushed. Bad idea ! The more time a seller has the more time he will take in responding. As an aside, please understand that if you allow a week for a response on your offer, the seller may receive and consider other offers and in fact would be free to accept one of those offers –even though your offer was submitted first. Remember that there is no order of priority on offers and that all offers written, all, must be submitted to the seller for his or her consideration. And if you allow several days, a week or a month, in the interim that seller may be entertaining other offers and you may lose the property !

4. Avoid entering language in the purchase agreement which is unnecessary, repetitious, ambiguous, subjective - such as repairs are to be purchaser’s satisfaction- instead of repairs are to be done in a workmanlike manner. If the number of days for inspections, loan application or any other reference to number of  days is changed from the those which are in the purchase agreement do not permit the substitution of “business” days or “working days” for calendar days. 

Simply change the number of calendar days from 10 days to 14 days or whatever is desired. The point here is that everyone counts calendar days precisely the same way but business days and working days have different interpretations with  various agents, brokers and the public  Calendar days are the same to all.

5. There is no place in a purchase agreement for “hip” language such as “done”  when entered where the number of days to make loan application should be  entered. Where the date for obtaining loan approval is to be entered, avoid entering pre approved –enter the date by which the loan must be approved. The use of  “maximum” where the loan amount is to be entered or the word “minimum”  where down payment is to be entered is totally inadvisable. The word “required”  should not be substituted when an area is to be quantified. Simplicity, brevity 
 and conciseness are in and “hip” and “cute” are out when it comes to offers. 

 Always remain aware that purchase agreements are subject to review by attorneys, lenders, title companies, appraisers, Louisiana Real Estate Commission  and courts. Therefore do your best to prepare and submit well worded, objecttive , easily understood offers at all times.

6. When submitting an offer to purchase which is predicated on the sale or completion of an act of sale of another property, provide the listing broker with a copy of  the purchase agreement, on said other property, when at all possible. You will enhance your chances for acceptance of your offer, as the listing agent will not be lead to believe that you are concealing something by refusing to provide a copy of  such documentation.

7. Never use the word “ clear” when referring to a termite inspection – if you do you may well be implying far more than the Wood Destroying Insect report(W.D.I.R)  which basically limits the inspection to the accessible areas of the property-not the property in its entirety.

8. When imposing conditions in a purchase agreement, make them concise and as a general rule there should be a date by which the condition should be satisfied. An example of such a condition would be as follows. This agreement to purchase is  subject to verification that zoning on subject property is C-1 Commercial, within 10 calendar days from acceptance hereof. Another example would be as follows. This agreement to purchase is subject to purchaser’s ability to obtain an occupational license to operate a children’s day nursery within 21 days of 
acceptance, hereof. 

9. There are several factors to consider when determining price to be offered on a  property. Comparable sales are of the utmost importance. Recent sales of similar properties are referred to as “comps’ and you or your agent should locate several in order to shed some light on what buyers have been paying for such properties, within the past 6 to 12 months (preferably 6 months or less). This should prepare you to submit an informed offer. Another factor which can be determined is time on the market, price adjustments, how many brokers have had the property listed and if it has been under contract recently. Knowing why the owner is selling
may help you to determine the seller’s urgency and motivation. A seller who is highly motivated or urgent is generally more receptive to lesser offers than one  who has no compelling reason to sell. It is wise to look for areas where you might be able to accommodate the owner in such  areas as occupancy, act of sale date, a quick sale or one which is slower as a means of having a lower price accepted as a result of such accommodation. Remember, purchasing real estate is a two way street-if you strive to get every thing in your favor and ignore the seller’s needs, you will more than likely wind up with a rejected agreement to purchase. 

10.  Try to remove the emotion from your purchase of real estate and substitute intellect and logic when possible (easier said than done at times). You will wind up with better buys and with better terms. If the seller reacts emotionally to your offer and  becomes inflexible, hostile or simply uncooperative, this may indicate that you back off and move on to another property, giving the seller  time to cool down and reflect on the negotiations to determine whether he or she was unreasonable. After a period of time the owner may be willing to reconsider your offer. When this is done you must be ultimately prepared to lose the property if another offer develops. Negotiating price and terms is not  necessarily an easy task and can become unpleasant and time consuming. The use of an experienced, expert agent in negotiating price and terms is highly  recommended and will inevitably get you the best results possible.

                    
11.   Never assume that because a non real estate item, for example a refrigerator, washer, dryer or free standing stove is in a house that it is included with the sale, nor should you take verbal representations of non real estate items or  MLS printouts or flyers to determine what non real estate items are included.  Always enumerate such non realty items in the purchase agreement, spelling out specifically what is to be included as precisely as possible. In the event of a  dispute the written purchase agreement will almost invariably prevail.

 12.  The deposit outlined in an offer is most important. Sellers are impressed with  larger deposits  as is the listing agent-it looks business like-it is business like.  Stear clear of promissory notes. When and if you are in competition do not  hesitate to submit your deposit with the offer (even though it is not due until acceptance). Try always to submit deposits larger than the norm. Your offers will get more consideration and will stand out from those with lightweight deposits. 

       In summary in order to negotiate the best price and terms make your purchase  agreement, simple, uncluttered, prepared on a word processor or typewriter,  with crystal clear terms and conditions. Leave no room for interpretation. Your agreement should be straight forward, well worded and if at all possible, delivered  in the original. (agents who are only 1 or 2 miles from each other at times, fax offers, instead of delivering the original). Always have your agent determine that the listing agent has received the offer, whether it has been delivered in the original or faxed. This is extremely important for it is the listing agent’s responsibility to convey, immediately all offers to the owner in a timely fashion, for the owner’s consideration. Allow, normally 24 hours for consideration of your offer-extend only if circumstances warrant it. Avoid “hip” or “cute” language in agreements for there is no place for such things in an offer to purchase. Seek out, study and act on comparables sales for they tell you what is being paid for similar properties. Attempt to eliminate emotion in your decision  process, when purchasing real estate. You will wind up with a better buy and one which makes more sense ! Endeavor, when possible, to accommodate the seller. I trust that you will find the preceding informative and useful.


The prcedeing article is subjective in nature and represents the opinion of the author/ real estate agent –Donna Rothwell Bergeron


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<entry>
   <title>Harahan,Louisiana- A Small City With Big Ambition</title>
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   <published>2007-04-04T16:25:43Z</published>
   <updated>2007-04-04T16:29:34Z</updated>
   
   <summary>Harahan is a relatively small municipality whose notoriety is totally disproportionate to its size. That is to say that it is in the news more than any comparable size city for its politics and a variety of other issues. In...</summary>
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      Harahan is a relatively small municipality whose notoriety is totally disproportionate to its size. That is to say that it is in the news more than any comparable size city for its politics and a variety of other issues. In my opinion, this speaks well of the civic involvement of those who reside there as they take pride in this small city. In many instances you will find two or three generations of the same family living within the city limits. 
      <![CDATA[<p>Harahan is basically bounded by Old Jefferson on the east, Metairie on the north, River Ridge on the west and the Mississippi River on the south. There was a time when Harahan was considered relatively remote and natives considered it simply too far away. This was true when proximity to the Orleans Parish line was the yardstick by which the Eastbank of Jefferson was measured. Initially, real estate in order to be desirable had to be below Causeway (east of Causeway Blvd.). That gave way to above Causeway( west of Causeway) as being acceptable &ndash;as long as it was not as distant as Harahan, River Ridge or Kenner. Those sentiments are no longer true ! Today, all of these communities are embraced as wholesome and readily acceptable areas to reside in. Times have changed as the population of East Jefferson has grown and the demand for variety of housing has increased and become more sophisticated. Harahan as a residential community offers a friendly atmosphere for relaxed suburban living but with most city conveniences. Shopping is acceptable but not quite on a par with most other areas heretofore mentioned. Elmwood is the nearest major shopping area just to the east of Harahan. There are a variety of schools and churches within the city limits which would be best described as reasonably convenient. The crown jewel of the city is Colonial Club Gulf Course situated between Jefferson Highway and the Mississippi River Levee. It has a certain ambience which is not easily duplicated, but it has experienced financial difficulties in recent years. This difficulty has led to a spirited debate between those who wish to preserve the club as it is, and those who would like to ease the financial burden of the club by a condominium development near the levee. As in all civic debates controversy swirls around increased traffic, congestion, drainage and flooding issues, yet, inevitably, economics may eventually be the prevailing factor. Recently a major developer has appeared on the scene offering some potential solutions, giving rise to some optimism.</p><p>Housing in Harahan ranges from about $120,000 to the high six figures. The most appealing subdivision in my opinion is Imperial Woods, where prices range from $250,000 up to $750,000 with an occasional exception. Lot sizes for the most part are generally modest in this area. Harahan Oaks is another subdivision located off Colonial Club Drive with more reasonably priced home &ndash;but certainly not inexpensive. Abutting this subdivision is Royland subdivision which is an area of smaller and less expensive homes. This subdivision, however, has begun to change as more and more teardowns are occurring and more lavish homes are replacing the small cottages-similar in many respects to the situation in Old Metairie. Two other subdivisions of note are River Oaks and Colonial Estates which range from around $190,000 to $400,000. These are two very nice areas of homes with mature landscaping, tall trees , limited traffic, most having been built within the last 50 years. Harahan is basically single family residential with a limited supply of multi family and condominiums. </p><p>Jefferson Highway is the major east - west thoroughfare through the city with Hickory being the major north south artery. Over the last 10-15 years attempts have been underway to develop Hickory into an area of antique shops, but success has been at best, limited. Hickory becomes David Drive north of Airline and David Drive becomes Power Blvd north of Veterans (Same street running nearly from the lake to the river but with three different name changes) </p><p>Harahan has its own recreational department with a well equipped playground &ndash;Harahan Playground-which has a gym, horseshoe pits, tennis courts and a softball/football field. Another pleasant recreational area is the Mississippi River Levee which is an enjoyable area for jogging, bike riding or leisurely walks. Harahan, as a city, is compact, well maintained, well governed and a totally pleasant place to live with interesting nooks and crannies-and for some reason &ndash; usually in the news for its politics. </p><p>The preceding article is subjective in nature and represents the opinion of author/ real estate agent, Shirley Eason </p>]]>
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<entry>
   <title>Larry Trunk - President / Broker</title>
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   <published>2007-03-29T17:38:47Z</published>
   <updated>2007-03-29T19:20:17Z</updated>
   
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<img src="http://www.larrytrunk.com/images/larry_trunk.bmp" width ="150"></center>]]>
      <![CDATA[<li>President / Master Broker /Developer <br /></li><li>Loyola University Graduate <br /></li><li>40 years of real estate brokerage <br /></li><li>athletic honors high school/ college <br /></li><li>occasional academic honors <br /></li><li>best Loyola student athlete award <br /></li><li>sold or managed real estate sales now estimated in the hundreds of millions of dollars <br /></li><li>creative financing expert <br /></li><li>skilled negotiator <br /></li><li>available and accessible always <br /></li><li>the buck stops here <br /></li><li>office : 504-885-9544 residence : 504-833-2465 <br /></li><li>toll free- 1-800-371-9544 e mail-ltrunksr@larry trunk.com <br /></li><li>after hours or holidays 504-833-2465 Fax: 504 �885-9549 <br /></li>]]>
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<entry>
   <title>Discount vs. Full Service Real Estate Brokerage-the Lowdown, the Illusion in Metairie,Kenner,River Ridge,Jefferson &amp; New Orleans</title>
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   <published>2007-03-19T00:15:05Z</published>
   <updated>2007-03-19T01:17:00Z</updated>
   
   <summary><![CDATA[Discount vs. Full Service Real Estate Brokerage-the Lowdown, the Illusion in Metairie,Kenner,River Ridge,Jefferson &amp; New Orleans As an experienced broker of over 43 years I find the discussions swirling around full service real estate brokerage verses discount brokerage to be...]]></summary>
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      <![CDATA[<p align="center"><strong><em><u>Discount vs. Full Service Real Estate Brokerage-the Lowdown, the Illusion in Metairie,Kenner,River Ridge,Jefferson &amp; New Orleans</u></em></strong> </p><p><strong>As an experienced broker of over 43 years I find the discussions swirling around full service real estate brokerage verses discount brokerage to be interesting but in many instances to be deceitful to the general public. Indeed, advocates and proponents of full service brokerage attempt to paint a picture that really does not exist in the real world of real estate brokerage. When asked to explain the difference between them they have great difficulty drawing distinctions. </strong></p><!-- END MAIN APPLICATION CONTENT -->]]>
      <![CDATA[<strong>For example, many mega brokers are condescending with brokers who do not adhere to rigid commission schedules. This is done by intimating that if you as a broker charge less than your mega broker competitor that you have to be leaving out important aspects of marketing and that you can not possibly do what they do because of their higher commissions. Let us analyze that for a moment. In the New Orleans and Jefferson Parish area many mega brokers have resorted to classified advertising only on Sundays, because they save money that way. Monday, Tuesday, Wednesday, Thursday, Friday and Saturday are days where they usually do not advertise. Not because the public does not read classified advertising on those days and not because the public does not look for real estate on those days, but simply because they save money that way. If you charge a lesser commission (negotiated) and you advertise 6 days a week are you to be dismissed as a discount broker by those self serving mega brokers ? If your office is open for business 7 days a week and the mega broker chooses to close on Sundays are you providing a higher level of service at perhaps a lower cost to the public ?&nbsp;</strong> <p><strong>Economics works in real estate brokerage just the same way that it functions in retailing, purchasing automobiles or&nbsp;any high end product or&nbsp;service. If my firm can deliver a high level of professional brokerage service and get your property SOLD at a lower net cost in terms of commission, why should you pay mega brokers more for service which at times is worth less ? Mega brokers want you to believe that the extra 1, 1 &frac12;&nbsp;or 2 % that you are charged in terms of commission is worth while and that a broker who does not adhere to rigid commission schedules is categorized as a discount broker and therefore is stigmatized&nbsp; as being less competent and less efficient&nbsp;simply because you are being charged a lesser commission. If you are selling a $300,000 house and you are asked to pay several thousand dollars more you have a right to know what those several thousand additional dollars buys in terms of marketing. More than likely, you will ascertain that the additional cost of commission is not commensurate with whatever the additional marketing( if any) is supposed to deliver. At least you will then be able to make a rational decision and determine whether the perceived additional services are worth thousands of dollars more. The rationale behind higher commissions buying superior service is a self serving illusion and a distortion concocted by mega brokers in order to justify their desire for higher commissions &ndash; not necessarily a higher level of service ! Some mega brokers urge their associates to prevail upon sellers to purchase advertising contracts in order that their property receives adequate advertising exposure. At Larry Trunk,Inc. sellers are not asked to buy advertising contracts as all advertising is paid by the company and is considered a normal business expense and we make no effort to pass that expense off on our sellers. The controversy and discussion of full service verses discount brokerage promoted in some publications is once again in my opinion very misleading. How do you draw the line between one and the other ? The simple truth of the matter is that you can not. Some proponents of higher commissions are, interestingly enough, the first ones to haggle for better prices and bigger discounts when purchasing goods and services, particularly high end items. If it is economically desirable, honorable and wise to shop for the best prices for such things as automobiles then why does that same logic not apply to selection of a real estate brokerage based upon, among other considerations, commission rates ? If you negotiated the purchase price of a new car at a 24 % discount off list price would you be stigmatized and labeled as a discount shopper/consumer ? If you purchased real estate at a 14 % discount off the list price would you be cast condescendingly as a bargain hunter ?&nbsp;No-in both instances you would be admired and applauded&nbsp;for your business acumen and your negotiating skills.</strong> </p><p></p><p><strong>What is truly remarkable is that in the realm of brokerage services, often, both superior service is received at a lesser commission and that higher commissions do not necessarily equate to a higher level or a more professional level of service. You, however, may very well be led to believe that such is the case. Analyze for yourself and determine whether higher commissions will get your property sold faster or will put more net dollars in your pocket at closing. Some mega brokers make an argument supporting that but I personally believe that labels such as full service means simply that you, the public, oftentimes pay more-for less ! The decision is yours and there are many options available in marketing real estate and the fact that competition( a basic principle of free enterprise) functions between brokers is </strong></p><p><strong>most invaluable for you the property owner. </strong></p><p><strong>In conclusion, it is my opinion, that classifying brokers as full service or discount brokers is an exercise in futility. I&nbsp;categorically reject any effort to label brokerages as either full service or discount based solely upon the amount of commission charged. There are many factors which enter into the efficiency and&nbsp;professionalism of a brokerage the least of which may well be amount of commission charged. We negotiate commissions and we do render a consistently high level of professionalism in brokerage and our effort is neither increased nor decreased by commission amounts. We have been doing it the right way for over 33 years and will continue to do so, not contingent upon higher or lower commissions, but because you the public deserve the highest level of professional service which we can render !</strong> </p><p><strong><em>The preceding article is subjective in nature and represents the opinion of author/ real </em></strong></p><p><strong><em>estate broker, Larry Trunk</em></strong></p>]]>
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</entry>
<entry>
   <title>Kenner Real Estate Broker</title>
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   <published>2007-03-05T05:49:13Z</published>
   <updated>2007-03-05T05:56:05Z</updated>
   
   <summary>Larry Trunk is a top notch real estate broker in the Kenner, La area. Larry has been a broker for decades. This is the experience you can trust when looking for a broker to complete your real estate transactions. Larry...</summary>
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      Larry Trunk is a top notch real estate broker in the Kenner, La area. Larry has been a broker for decades. This is the experience you can trust when looking for a broker to complete your real estate transactions. Larry has dozens of trained and aggressive sales people to help move your property to the S-O-L-D category.
      <![CDATA[<p>Larry Trunk is located on David Dr.&nbsp; right near Kenner. As a real estate broker that services the Kenner Market, Larry and his sales people are very familiar with the ins and outs of the Kenner real estate market.</p><p>Larry Trunk is famous for honest negotiable commissions. He debunks the myth that you get no service for reduced commissions.&nbsp;Knowing Larry, he is a man that likes to get the job done. He wants to sell your house as badly as you do. I have never seen a real estate broker work harder on every property in his office.</p><p>Stop by almost any day, and you will find this Kenner Real Estate broker sitting in his office working the phones advising sales people and customers on their upcoming real estate sales.</p>]]>
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</entry>
<entry>
   <title>The Larry Trunk Realtor Commission Compensation Plan</title>
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   <published>2006-12-06T14:45:19Z</published>
   <updated>2006-12-06T14:55:08Z</updated>
   
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      <![CDATA[<p align="center"><strong>The Larry Trunk Commission/Compensation Plan</strong> ************************************************</p><p align="center">I personally believe that there is no commission plan which compares to this one! Take the time to read and understand and compare it with your present plan. Invariably you will find that you will make substantially more money under this plan than any mega broker plan. Our commission plan functions on a calendar year basis and has an ever increasing commission percentage until you have earned $30,000 and you then receive 100 % of the commission ! How does that compare with the plan you are presently working under! In real estate, sales are referred to as either &ldquo;in house&rdquo; or cooperative.&rdquo; An in house transaction is one in which an agent has either sold a listing within his or her company, or had his or her listing sold by another agent within the same company. A cooperative transaction is one in which an agent has sold another broker&rsquo;s listing, or another broker has sold the agent&rsquo;s listing. Our percentage of commissions are outlined below as both in house and cooperative transactions. </p><p align="center">Compare it with your plan </p><p align="left"><strong>Annual Earnings&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;In House&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cooperative </strong></p><p align="left"><strong>0 to $9,000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; &nbsp; 30 %&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 % </strong></p><p align="left"><strong>9,001 to $12,000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 %&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 % </strong></p><p align="left"><strong>12,001 to $15,000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 %&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53 % </strong></p><p align="left"><strong>15,001 to $18,000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;33 %&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55 % </strong></p><p align="left"><strong>18,001 to $21,000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34 %&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57 % </strong></p><p align="left"><strong>21,001 to $24,000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 %&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58 % </strong></p><p align="left"><strong>24,001 to $27,000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 %&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 % </strong></p><p align="left"><strong>27,001 to $30,000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 %&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62 % </strong></p><p align="left"><strong>30,001 - and above&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 %&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 %</strong></p><p align="center">&nbsp;__________________________________________________ </p><p align="center">Example: You have annual earnings of $18,200 and your listing sells in house, by one of our agents, and a 6 % commission on $160,000 sale is paid, or a total of $9,600. In the $18,001-$21,000 bracket you as listing agent would receive 34 % of the $9,600 commission or a total of $3,264. If you were both the listing and selling agent you would receive 68 % of the $9,600 or a commission of $6,528. And the $6,528 would be added to your annual earnings ($18,200 + $6,528= $24,728) so that your next commission would be figured on the percentage shown in the 24,001-27,000 bracket. Example: You have annual earnings of $27,200 and you sell another company&rsquo;s listing (cooperative) and a 3 % commission on $190,000 is paid , or a total of $5,700. In the $27,001-$30,000 bracket you as the selling agent would receive 62 % of the $5,700 commission, or a total of $3.534. Now the $3,534 would be added to your annual earnings ($27,200 + $3,534= $30,734) and you would have reached the 100 % commission bracket ! Example: You have annual earnings of $30,734 and you sell your own listing and a 6 % commission is paid on $250,000 or a total of $15,000. In the 100 % bracket you would receive $14,250 ( $15,000 - $750 administrative fee= $14,250) ! The entire $14,250 is yours as the listing/selling agent ! The company would receive just $750 and you would receive the balance without deductions for expenses of any type. In addition to the above commission splits the following bonuses are paid. Upon earning $9,001 a bonus of $150 is paid. At $12,001 another bonus of $150 is paid. At $15,001 a $200 bonus is paid and $250 at $18,001. At $21,001 a bonus of $300 is paid and at $24,001 a bonus of $350 is paid. Finally at $27,001 in earning you would receive an additional $400 bonus.That is a total of $1,800 in bonuses upon reaching $27,001 in earnings in a calendar year. Once you reach $30,000 in commissions earned then you receive 100 % of the commission. All 100 % commissions are subject to a nominal administrative fee. It is important to note that you pay nothing for advertising, long distance calls or faxes, nothing for copies, nothing for stationary. This is remarkable when many mega brokers charge for copies, faxes long distance, and everything else they can in order to cover their overhead by reducing your commissions. </p><p align="center">Larry Trunk agents keep all that they earn, and have no charge backs for long distance ,faxes ,copies, signs desk fees or franchise fee. .Our agents&rsquo; commissions are not diminished by trivial charges... Mega brokers tend to keep their commission schedules out of the spotlight. They do not want their competitors to have access as their commissions may be non competitive, as compared to some other plans now in use. I have decided to make our commission schedule public so that real estate agents may see that they are often getting the short end of the stick, and are not receiving commissions commensurate with their value to the company. In other words you may not be being paid what you are worth. If you are grossing $55,000 to $60,000 and are earning any thing less than $30,000, you are being paid less than what you are worth ! If you should have any questions on our commission plan please feel free to contact me as I would be happy to discuss any of the foregoing with you. </p><p align="center">If you are to be paid what you are worth, you should be familiar with and understand the compensation plans now in effect with your competitors. Ask yourself if you ever receive 100 % of the commission with your present affiliation , most agents with mega brokers do not. If you would like to know how much more you would earn under our commission plan substitute the gross commissions which you have earned and utilize the commission percentage as outlined,under the Larry Trunk,Inc. schedule You may find that your income would be at least 20-25 % higher under our plan, perhaps higher ! If your income was well in excess of $30,000, but your broker did not pay 100 % above $30,000, calculate how much more you would have earned on those transactions, alone, at 100 %, verses what you did receive under your present plan. Again, you will find significant differences between our plan and your present plan. The message is loud and clear-you will earn substantially more under our plan. Finally, do not be led to believe that the ability to negotiate commissions ( strongly discouraged, or prohibited by mega brokers ) will make you less money. Having the ability to negotiate commissions will close more deals for you, make you more productive, more profitable and vastly more successful ! Amen ! </p><p align="center">&nbsp;</p><p align="center">The preceding article is subjective in nature and represents the opinion of author/real estate broker, Larry Trunk </p>]]>
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</entry>
<entry>
   <title>Ormond Destrehan Real Estate</title>
   <link rel="alternate" type="text/html" href="http://www.larrytrunk.com/market_info/ormond_destrehan_real_estate.html" />
   <id>tag:www.larrytrunk.com,2006://1.53</id>
   
   <published>2006-10-28T03:58:19Z</published>
   <updated>2006-10-28T04:04:43Z</updated>
   
   <summary>Ormond Destrehan Real EstateOrmond Destrehan is a wonderful area in St. Charles Parish. The Ormond Destrehan area is located south of Airline Highway and North of the Mississippi River....</summary>
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      <![CDATA[<h1>Ormond Destrehan Real Estate</h1><p>Ormond Destrehan is a wonderful area in St. Charles Parish. The Ormond Destrehan area is located south of Airline Highway and North of the Mississippi River.</p>]]>
      <![CDATA[<p>There are many local schools and business located within 20 minutes of the main residential areas. St. Charles Parish has the Luling Bridge which crosses the Mississippi River. There are also a few interstate exits in the area that provide easy access to the Greater New Orleans Area. Ormond also has a country club which features an 18 Hole Golf Course. There are several restaurants in the area. Ormond also has movie stores, grocery stores, and a post office.</p><p>Larry Trunk has a satellite office located on Ormond Blvd.</p><p>&nbsp;</p>]]>
   </content>
</entry>
<entry>
   <title>Metairie Real Estate Market</title>
   <link rel="alternate" type="text/html" href="http://www.larrytrunk.com/information/metairie_real_estate_market.html" />
   <id>tag:www.larrytrunk.com,2006://1.52</id>
   
   <published>2006-10-28T03:52:22Z</published>
   <updated>2006-10-30T21:54:46Z</updated>
   
   <summary><![CDATA[Metairie Real Estate MarketMetairie is an unincorporated area located on&nbsp; the east bank &nbsp;of Jefferson Parish. It is at once, dynamic, impressive, progressive, affluent and vibrant. It is bounded on the north by Lake Ponchartrain, on the south by Old...]]></summary>
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      <![CDATA[<p><strong><em><u>Metairie Real Estate Market</u></em></strong>Metairie is an unincorporated area located on&nbsp; the east bank &nbsp;of Jefferson Parish. It is at once, dynamic, impressive, progressive, affluent and vibrant. It is bounded on the north by Lake Ponchartrain, on the south by Old Jefferson,Harahan and&nbsp; River Ridge, on the&nbsp; west by Kenner &nbsp;and on the east by the now famous &nbsp;17<sup>th</sup> Street Canal</p><p class="MsoNormal" style="margin: 0in 0in 0pt">(the canal whose levee was breached &nbsp;by Hurricane Katrina in 2005 causing unprecedented &nbsp;flooding and devastation in parts of Orleans Parish). </p>]]>
      <![CDATA[It is governed by a parish council and a parish president. The word parish in Louisiana is synonymous with county in all other states. Metairie is the crown jewel of Jefferson Parish and it is close to being the tail that wags the dog with respect to New Orleans. Close ! <p>The two main east- west thoroughfares are Veterans Memorial Blvd. and Airline Drive. Jefferson Highway also carries much east-west traffic, although it is slightly south of Metairie. Major north south arteries are Causeway Blvd, Clearview and David Drive.</p><p class="MsoNormal" style="margin: 0in 0in 0pt">Perhaps the most successful shopping mall in Louisiana and one of the top malls in the United States is located at the intersection of Veterans and Causeway and is known as Lakeside.</p><p class="MsoNormal" style="margin: 0in 0in 0pt">&nbsp;</p><p class="MsoNormal" style="margin: 0in 0in 0pt">Metairie real estate ranges from moderately priced homes &nbsp;from $125,000 to&nbsp; expensive homes in the $2,000,000 and up range. There are many subdivisions in Metairie as subdivision development began about 50 years ago. In the&nbsp; Below Causeway area (east of Causeway, from I-10 to Lake Ponchartrain) there is Whitney Heights and Wilshire Heights with homes ranging from $225,000 to $600,000.Also in the below causeway area(east of Causeway and south of i-10) is the area known as Old Metairie with the &nbsp;expensive and notable &nbsp;Metairie Club Gardens Subdivision.&nbsp; Above Causeway (west of Causeway) there are a large number of subdivisions. Those which are worthy of note are Ponchartrain Shores, Ponchartrain Gardens. Bridgedale, Airline Park, Willowdale, Elmwood, Bissonet, Lynn Park, Westgate, Palm Vista, Lake Vista of Jefferson, &nbsp;and a host of others. The lakeside of Veterans was developed in an orderly fashion and generally speaking the homes get more expensive as one moves in the direction of the lake, although there are notable exceptions to this.. </p><p class="MsoNormal" style="margin: 0in 0in 0pt">&nbsp;</p><p class="MsoNormal" style="margin: 0in 0in 0pt">Recreational facilities abound with&nbsp; Lafreniere Park being the largest.It has a a 2 mile jogging path, a lake , picnic facilities, swings and slides for children&nbsp; plus several roofed&nbsp; areas for relaxing and barbequing. The levee bordering Lake Ponchartrain also is a pleasant area for a stroll or watching boaters. Metairie has at least seven playgrounds operated by Jefferson Parish with a variety of sporting activities&nbsp; for all</p><p class="MsoNormal" style="margin: 0in 0in 0pt">ages-from toddlers to adults Most of the Playgrounds have gyms, softball diamonds,</p><p class="MsoNormal" style="margin: 0in 0in 0pt">swings, sliding boards and several have tennis courts. LaSalle Park, on Airline Drive, near the Saints training, camp. has jogging paths, softball fields, trees and benches to relax on&nbsp; and pass time.</p><p class="MsoNormal" style="margin: 0in 0in 0pt">Access to medical facilities is excellent in Metairie with East Jefferson General Hospital and several smaller hospitals. Veterans Blvd is the primary commercial artery in Metairie with two major shopping malls and many smaller strip centers ,restaurants and boutiques. The area known as &ldquo;Fat City&rdquo;&nbsp; renowned for bars, clubs ,and restaurants&nbsp; is about as close as Metairie gets to being offbeat. It is located just west of Causeway Blvd between Veterans and W. Esplanade. &nbsp;Metairie, today, has matured into a sophisticated metropolis, replete with shopping. housing, apartments, recreation, entertainment,&nbsp; services of all types, restaurants -totally self sufficient. About the only thing that it lacks is the French Quarter and the Superdome and those of us who reside in Metairie have been considering annexation of the Quarter and the Dome !</p><p class="MsoNormal" style="margin: 0in 0in 0pt">&nbsp;</p><p class="MsoNormal" style="margin: 0in 0in 0pt">The public school system in Metairie is well thought of and is supplemented by a network of private and parochial schools. Archbishop Rummel and Archbishop Chapelle are the preeminent Catholic High schools., while St. Martins , Country Day, Ridgewood &nbsp;and Ecole Classique are the notable private schools among others. Churches of all denominations are literally spread &nbsp;throughout &nbsp;Metairie. Public transportation is available but definitely leaves something to be desired by comparison with areas of similar size..</p><p class="MsoNormal" style="margin: 0in 0in 0pt">&nbsp;</p><p class="MsoNormal" style="margin: 0in 0in 0pt">Metairie real estate has traditionally held its value even when some neighboring parishes have had difficult times when high interest rates have had a dampening &nbsp;effect on values and that speaks well of the regard that most have for the area. Vacant residential real estate is scarce and at a premium&nbsp; as, lots (small by comparison to other areas ) in the range of&nbsp; 50&rsquo; or 60&rsquo; front by a depth of 100&rsquo; to 110&rsquo; can easily exceed $125,000 ! Metairie is definitely&nbsp; regarded as a high cost area in terms of both vacant&nbsp; residential and commercial land. New construction is limited as the supply of available land continues to dwindle. However, Metairie is beginning to experience a &ldquo;Teardown&rdquo; phase in certain areas, such as Old Metairie and the area generally bounded by Airline., W. Metairie, Causeway and Clearview, where smaller cottages are being razed and replaced with both single and fee simple title townhomes. The condo market is fairly vibrant as natives continue to find condominiums &nbsp;an acceptable alternative to single family homes.</p><p class="MsoNormal" style="margin: 0in 0in 0pt"><span /></p><p class="MsoNormal" style="margin: 0in 0in 0pt">In summary ,Metairie is no longer a bedroom community of &nbsp;New Orleans which it once was. It has become of age and compares most favorably in all respects with New Orleans. I have resided in Metairie for over&nbsp; five decades and I have been active in the Metairie real estate market for 16 &nbsp;years. I know the ins and outs, the plusses and minuses, the desirable from the less desirable-I know the heartbeat of Metairie ! I am professional, responsible and highly competent at what I do best- marketing Metairie real estate quickly and&nbsp; efficiently at top dollar ! I am also prepared to locate exactly what you are looking for as a result of my extensive knowledge of the area, values, financing and negotiating skills. Try me- trust me-I will get the job done !</p><p class="MsoNormal" style="margin: 0in 0in 0pt">&nbsp;</p><p class="MsoNormal" style="margin: 0in 0in 0pt">The preceding&nbsp; article is subjective in nature and represents the professional opinion of author/ real estate agent Anna Crane Leggio.</p>]]>
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</entry>
<entry>
   <title>River Ridge Real Estate</title>
   <link rel="alternate" type="text/html" href="http://www.larrytrunk.com/information/river_ridge_real_estate.html" />
   <id>tag:www.larrytrunk.com,2006://1.51</id>
   
   <published>2006-10-19T20:16:06Z</published>
   <updated>2007-03-05T05:48:44Z</updated>
   
   <summary>RIVER RIDGE REAL ESTATE The area which now comprises River Ridge was once known as “Little Farms” or by the zip code 70123. It was not especially well known for real estate or anything else- other than being way out...</summary>
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      RIVER RIDGE REAL ESTATE

The area which now comprises River Ridge was once known as “Little Farms” or by the zip code 70123. It was not especially well known for real estate or anything else- other than being way out there. How times have changed, since the name River Ridge was  adopted, it has become well known and prominent in real estate circles.!
        It is now a sophisticated residential area with many affluent residents and expensive homes, well  known to  residents of New Orleans and Jefferson Parish , and regarded as most desirable. River Ridge is bounded on the east by the city of Harahan, on the west by the city of Kenner, on the south by the Mississippi River and on  the north by Metairie and Kenner. Jefferson Highway is the primary east –west corridor, with Little Farms Avenue , Citrus and Sauve Road as   major north- south thoroughfares. In that River Ridge is near the Mississippi River it tends to be higher ground with less subsidence and fewer structural problems than  the surrounding areas. Flooding is generally less (although it does pose an occasional prob lem)
and flood insurance rates tend to be somewhat lower.

One of the primary appeals of  the area from a real estate viewpoint is that it has a more rustic, rural feel to it as it has more towering  trees, tasteful landscaping and larger lots than the surrounding real estate communities. River Ridge residents love the serenity of the area and appreciate the subtle differences which distinguish it from surrounding
neighborhoods.Some streets which are particularly noted for larger lots include Citrus, Midway, Garden Road, Sauve Rd,Tudor, Orchard, Walter Rd. and several streets just west of Tudor. Although there are subdivisions such as Cherokee Court, Paradise Manor, and others, the area is unusual  in that there is a complete mixture of luxury homes and modest homes on the same streets, unlike the more orderly residential  developments north of Veterans Blvd in Metairie. This is what makes up the ambience and character that is enjoyed by River Ridge residents and perhaps may not be as desirable to those more accustomed to a more uniform, subdivision type  look.

An area which is enjoyed greatly by residents is the Mississippi River Levee which abuts the river and has a jogging and bicycle path which winds along the woods of the batture and provides a respite from noise and traffic. Recently Jefferson Parish agreed to purchase the batture in order to provide recreational facilities and this should make it even more appealing. There is Colonial Golf and Country Club just to the east on Jefferson Hwy and several small community clubs with swimming pools and tennis courts. Little Farms Playground is a Jefferson Parish facility complete with a baseball field, gymnasium, tennis courts and other recreational facilities for adults and children. Churches of nearly all denominations abound throughout River Ridge.

Although many think of River Ridge real estate  as  expensive, home prices begin around $130,000 and run as high as $2,000,000. There are many architectural styles available to choose from as most of the area has been developed by individuals rather than developers. Vacant land is scarce and hard to come by if you wish to build. Generally speaking River Ridge is a high cost area for vacant real estate and prices will usually begin at $100,000 and up for modest size lots-in the range of 60’ x 100’ in areas of less expensive homes. More exclusive lots will command a much higher price, beginning about $200,000 and above and they are scarce !

I have lived in the Harahan- River Ridge area for over 24  years and have become intimately familiar with it over that period of time.. Literally,  I have sold hundreds of properties throughout the Jefferson Highway corridor, comprised of Old Jefferson, Harahan, River Ridge and South Kenner I know what makes the area tick, I know what people like and I know how to market the unique amenities of the area. Invariably ,if my advice is followed, my listings get  S-O-L-D not O-L-D !  I am an expert and a master marketer of River Ridge, Harahan and Old Jefferson real estate Try me, trust me, list with me for I know whereof I speak! I also have the real estate expertise and connections  to locate available  properties in this  area and to ensure that you pay a fair price. Knowledge and experience garnered in over two decades of real estate brokerage, and hundreds of sales and listings sold along the entire length of Jefferson Hwy, enables me to provide comprehensive and expert representation of both  sellers and buyers. References are available  upon request.


The preceding article is subjective and represents the professional opinion of the author/Real Estate agent, Becky Weber
   </content>
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<entry>
   <title>Louisiana Real Estate Sales and Waiver of Redhibition</title>
   <link rel="alternate" type="text/html" href="http://www.larrytrunk.com/information/louisiana_real_estate_sales_an.html" />
   <id>tag:www.larrytrunk.com,2006://1.50</id>
   
   <published>2006-10-19T20:13:03Z</published>
   <updated>2006-10-27T22:53:41Z</updated>
   
   <summary>REAL ESTATE SALES AND WAIVER OF REDHIBITION By George A. Mueller III, JD, CPA, MST In Louisiana, sales of real estate may be made with varying degrees of warranties relating to, among other things, merchantability of title of the real...</summary>
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      REAL ESTATE SALES AND WAIVER OF REDHIBITION 

By George A. Mueller III, JD, CPA, MST 

      In Louisiana, sales of real estate may be made with varying degrees of warranties relating to, among other things, merchantability of title of the real estate, peaceful possession of the real estate and the condition of the real estate. One issue that almost uniformly arises in Louisiana real estate sales is the limitation by the seller of what warranties are made in the sale documents with respect to the condition of the real estate, and specifically, the existence of and warranty against redhibitory defects in the real estate.
      
      A redhibitory defect is a condition or characteristic of the real estate sold that existed at the time of delivery of the real estate (“at the time” includes defects that appear within three days of the date of sale). A defect is a redhibitory defect when it renders the real estate useless or its use so inconvenient that it is presumed that the buyer would not have bought the real estate had he known of the defect, or when it diminishes its usefulness or value so that it is presumed that a buyer would still have purchased the real estate but at a lesser price. Examples of redhibitory defects include cracked slabs, an improperly installed roof, certain chronic, recurring odors, and certain repairs not in compliance with local ordinances, to name a few. Generally, no warranty is owed to a buyer if the defects in the real estate are known or made known to the buyer at the time of the sale or when the defects should have been discovered by a reasonably prudent buyer. What constitutes a redhibitory defect and what a buyer knows or reasonably should know will vary with the facts surrounding each real estate sale, including the buyer’s knowledge and expertise, the opportunity to inspect the real estate and any assurances or representations made by the seller of the real estate. 

      One method frequently used by sellers of real estate to limit or negate the warranties provided for under Louisiana law is the waiver of redhibition clause. In Louisiana, a seller of real estate who is in good faith is allowed to limit the warranties made in regard to redhibitory defects. Louisiana law provides that the parties to a real estate sale may agree to an exclusion or limitation of the warranty against redhibitory defects. The terms of the exclusion or limitation must be clear and unambiguous and must be brought to the attention of the buyer or adequately explained to the buyer. This exclusion or limitation is not effective when the seller of the real estate is in bad faith, that is, when the seller has represented that the real estate has a quality that the seller knew it did not have. The real estate purchase agreement should indicate that the sale will take place with waiver of redhibition, and the act of sale for the real estate must contain a valid waiver of redhibition clause in order to be effective. 

      Waiver of redhibition clauses generally contain language that indicates that the property is being sold “AS IS, WHERE IS”. Waiver of redhibition language is construed strictly against the seller of real estate, and inclusion of “AS IS, WHERE IS” language alone does not waive the warranty against redhibitory defects. An effective wavier of redhibition clause must, at a minimum, meet the following requirements: (1) It must be written in clear and unambiguous; (2) It must be contained in the act of sale or other document transferring the real estate; (3) It must be brought to the attention of the buyer or adequately explained to the buyer (usually also requiring the initials of the buyer to be placed at the end of the last paragraph of the waiver of redhibition clause). 

      An effective waiver of redhibition clause will also confirm that no representations of any kind have been made to the buyer of the real estate with respect to any specific characteristic of the real estate, and it will also contain a specific waiver of any warranties whatsoever, including fitness for any specific purpose, any specific characteristics of the real estate, or any zoning characteristics. They are usually three to four paragraphs long and written in complex, legal prose. 

      Generally, in the absence of an effective waiver of redhibition, a seller of real estate who does not know of the redhibitory defect (in good faith) is only obligated to repair, remedy or correct the defect. If the redhibitory defect cannot be corrected or the seller of the real estate fails to remedy the redhibitory defect, then the seller must return the price with interest from the date paid, reimburse for reasonable expenses resulting from the sale of the real estate as well as costs of maintaining or preserving the real estate. The seller of the real estate may be entitled to a credit for the use of the real estate by the buyer during the period of ownership. With a properly written and acknowledged waiver of redhibition clause, the buyer also waives any rights it may have in redhibition for rescission of the sale or to a reduction of the purchase price. The use of a waiver of redhibition clause in the act of sale of the real estate shifts the burden to the buyer to engage in all appropriate inspections of the real estate. 

      Conversely, a seller who knows of a redhibitory defect in the real estate sold but fails to disclose it or who represents that the real estate sold has a quality or characteristic that he knows the real estate does not have (in bad faith or fraud) must return the purchase price plus interest from the date of the sale of the real estate as well as costs of preserving and maintaining the real estate, and for damages and reasonable attorney’s fees incurred related to the matter. The seller of the real estate may be entitled to a credit for the use of the real estate by the buyer during the period of ownership. In cases of bad faith, the buyer may alternatively have the option to seek a reduction in the purchase price. The burden of estimating the damages and seeking the availability of the purchase price reduction in lieu of rescission of the sale is on the buyer. In the event that a buyer seeks to reduce the purchase price, the appropriate measure between the actual sales price and the price a reasonable buyer and seller would agreed to if the buyer was apprised of the defect at the time of purchase. Actual costs of said repairs is a key factor in this analysis. 

      In some instances, buyers who seek a rescission of the sale may be limited to a reduction in the purchase price, depending on the facts and circumstances surrounding the sale of the real estate. Note that when a buyer seeks to reduce the purchase price rather than rescind the sale, he is not required to provide the bad faith seller with an opportunity to remedy the redhibitory defect. 

      Understanding redhibitory defects, the use of the waiver of redhibition clauses and the availability of remedies related to these issues requires a fact specific analysis of the buyer and seller’s actions, the transactional documents and the condition of the real estate at the time of the sale. Understanding time limits for seeking an action in redhibition against a seller of real estate is also a fact specific question that is largely based on three questions: does a redhibitory defect exist, when did it exist, and, if it existed at the time of the sale, did the seller know of the redhibitory defect. Opportunities to inspect, buyer and seller behavior and other matter specific factors all play into the analysis of the redhibitory defect in sales of Louisiana real estate. 

      This article is a summary discussion of selected portions of the applicable law and jurisprudence concerning redhibitory defects in Louisiana real estate transactions, and should not be taken as an exhaustive treatment of the issue or relied upon by the reader as legal advice or a legal opinion. For questions concerning this article, please contact the author at (504) 596-2808 or gmueller@mcglinchey.com.
   </content>
</entry>
<entry>
   <title>Real Estate Market Value New Orleans Area –What buyers &amp; Sellers Should Know</title>
   <link rel="alternate" type="text/html" href="http://www.larrytrunk.com/information/real_estate_market_value_new_o.html" />
   <id>tag:www.larrytrunk.com,2006://1.49</id>
   
   <published>2006-09-22T15:31:07Z</published>
   <updated>2006-10-27T22:53:41Z</updated>
   
   <summary>Real Estate Market Value New Orleans Area –What buyers &amp; Sellers Should Know I believe the definition of market value is very important in the understanding of how appraisers arrive at an estimated market value. Numerous definitions of market value...</summary>
   <author>
      <name></name>
      
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         <category term="Information" scheme="http://www.sixapart.com/ns/types#category" />
   
   
   <content type="html" xml:lang="en" xml:base="http://www.larrytrunk.com/">
      Real Estate Market Value New Orleans Area –What buyers &amp; Sellers Should Know

I believe the definition of market value is very important in the understanding of how appraisers arrive at an estimated market value. Numerous definitions of market value have been devised over the years by professional organizations,
government bodies and the courts. A widely accepted definition of market value required  for federally related appraisals by FIRREA is as follows.
      

The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting  prudently, and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale  as of a specific date and the passing of the title from seller to buyer under the following conditions.
  1. Buyer and seller are typically motivated.
  2. Both parties are well informed, or well advised &amp; acting in their best interest.
  3. A reasonable time is allowed for exposure in the open market.
  4. Payment is made in terms of cash in U. S. Dollars or in terms of financial  
      arrangements comparable thereto.    
  5. The price represents the normal consideration for the property sold unaffected 
       by special or creative financing or sales concessions granted by anyone associ-
       ated with the sale. 
 
Market value or value in exchange, is the purpose of most valuations. A market value estimate reflects the appraiser’s interpretation of the action of buyers and sellers in the market place.
 
In appraisal valuation process the most frequently used process for estimating value is the Sales Comparison Approach to value. The Sales Comparison Approach is based on comparing and contrasting  pertinent data on comparables which have actually sold. In this process the appraiser takes historical data gathered from many different sources and makes comparisons of similar properties and makes plus or minus adjustments for any differences. 

When carefully collected, analyzed, verified and reconciled, market data usually provides the best indication of the market value for a property. The price that a typical buyer pays is often the result of a shopping process in which many properties are examined and evaluated. Buyers often base their value conclusions primarily on properties that are being offered for sale.

The principle of substitution states that when several commodities or services with substantially the same utility are available, the one with the lowest price attracts the greatest demand and the widest distribution. It is important to understand how this principle specifically applies to the theoretical framework of the market data approach. In single family residential markets , this means that when a residence is replaceable in the market (which it usually is)  its value tends to be set by the cost of acquiring an equally desirable substitute residence. Experienced real estate brokers know   that most buyers will accept more than one house in the market in which they are shopping and will accept only a short delay in negotiating the purchase of any specific house.

A popular myth is that one can sell a house at almost any price if one is willing to wait long enough for the one buyer who wants only that particular house and will pay substantially above its market value to obtain it. Houses that are listed substantially above market value generally remain unsold no matter how long they are offered for sale. The principle of substitution provides the basis for this premise that the market for comparable houses offering a similar quality of shelter, amenities and other considerations characteristic of that market.

Market values are already set by the buyers and sellers in the market place. Appraisers just take this information, analyze it into the appraisal valuation process to obtain an estimate of value.

The preceding article may be subjective in nature and represents the professional opinion of the author/ appraiser ,Nick Leggio.
   </content>
</entry>
<entry>
   <title>Real Estate Purchase Agreement Precision in Metairie &amp; Kenner Markets</title>
   <link rel="alternate" type="text/html" href="http://www.larrytrunk.com/information/real_estate_purchase_agreement.html" />
   <id>tag:www.larrytrunk.com,2006://1.48</id>
   
   <published>2006-09-22T15:29:19Z</published>
   <updated>2006-10-27T22:53:41Z</updated>
   
   <summary> Real Estate Purchase Agreement Precision- in Metairie &amp; Kenner The purchase agreement used in a real estate transaction may well be the most important document of all. This article is not intended, necessarily, to be from a legal perspective,...</summary>
   <author>
      <name></name>
      
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         <category term="Information" scheme="http://www.sixapart.com/ns/types#category" />
   
   
   <content type="html" xml:lang="en" xml:base="http://www.larrytrunk.com/">
       Real Estate Purchase Agreement Precision- in Metairie &amp; Kenner

The purchase agreement used in a real estate transaction may well be the most important document of all. This article is not intended, necessarily, to be from a legal perspective, but rather from a practical brokerage standpoint. At the heart of all purchases of real estate is the written agreement to purchase. If it is carefully drafted initially, confusion and uncertainty are eliminated. Purchase agreements address the vast majority of issues within an agreement-such as price type of financing, occupancy, deposit, etc.- within neatly arranged blanks which are designed to be filled in by the preparer (agent or broker)of the agreement. There is also a provision to customize the agreement by adding conditions  under a section generally referred to as “Additional Terms and Conditions,” when necessary to clarify the agreement, or incorporate terms and conditions not addressed within the agreement.
      
When a blank is not filled in, the abbreviation for not applicable (N/A) should be inserted as this states that this blank does not apply in the transaction. It is a mistake to simply leave the blank with nothing filled in as this would prompt an assumption that the blank has been overlooked. When you are entering into a purchase agreement make certain that all the blanks are filled in correctly or N/A
is inserted. This will lead to a more accurate agreement, with little room for misinterpretation.

Most purchase agreements originate with the purchaser submitting an offer to purchase a property according to certain terms and conditions which are or should be carefully spelled out and the agreement being submitted to the seller for consideration. When received by the seller usually one of three things will result-an
acceptance, a rejection, or a counter offer. If the offer has been refused it should be signed and dated by the seller and the purchaser should be provided with a copy of same. If the offer is accepted the seller should have signed and dated same and provided the purchaser with a copy. Originals of all documents remain with the listing broker. If the offer is countered this may occur in several ways. The changes or conditions which the seller wants may be written in on the agreement, initialed by the seller and conveyed to the purchaser for his consideration. If the purchaser is in agreement he or she will initial the changes indicating agreement. Another way to achieve agreement when there are changes is the use of a separate counter offer form which lists the changes desired, references the subject agreement and is signed by the seller and submitted to the purchaser for consideration. If there are a substantial number of changes I personally prefer to prepare an agreement to sell wherein the seller offers to sell the subject property to the purchaser under certain terms and conditions, all of which are spelled out. The agreement to sell is then conveyed to the purchaser for consideration and acceptance if purchaser is in agreement. These are basically the three ways that counter proposals are made.

When changes to a purchase agreement are made, subsequent, to acceptance, an addendum or an amendment to the purchase agreement is prepared. This document will be dated, outlining the departures or changes from the original agreement and will be signed and dated by both the seller and the purchaser. This then has the full force and effect of modifying the original agreement. Bear in mind that in addition to the purchase agreement you may have property disclosure,  lead based paint addendum,  waiver of redhibition , applicable addendums or amendments, among other items. Each of these documents should be carefully executed as they may have a significant impact on the transaction and all parties to the transaction should have copies of same. Again, I remind you that all originals remain with the listing broker in a transaction as well as the deposit which must be deposited in the listing broker’s sales escrow account, unless all parties agree otherwise. Please also note that the listing broker will deposit checks into sales escrow account as opposed to simply holding the check in a file or a drawer, as some purchasers are inclined to believe. 
 
Occasionally, there are conflicting items within a purchase agreement which must be eliminated. One such item would be allowing a loan approval date of 40 days from acceptance of the agreement and requiring an act of sale within 30 days of acceptance. Another area which is a source of confusion is the substitution of working or business days for calendar days. A calendar day is the same for everyone, whereas a business or working day may vary depending upon one’s culture , religion or country of origin. Additionally, the addition of words such as “done or approved” where loan application is to be made within a certain time frame do little to clarify the purchaser’s obligation with respect to loan application.
And words such as “minimum” substituted for the amount of the down payment or “maximum” substituted for the loan amount are inadvisable if not unacceptable to lenders even though some agents will use such language. Another word which is utterly inadvisable is “required” when substituted for down payment or loan amount. Do not enter into purchase agreements as a seller or purchaser when these terms are sprinkled throughout the agreement. They may sound hip, but they are nothing more than the inability of the person drafting the agreement to prepare a straight forward, easily understood agreement, which will stand up to scrutiny from
lenders, title companies, appraisers , lawyers and possibly courts. A good test of the accuracy and quality of a purchase agreement is to let several knowledgeable brokers or agents read the agreement and see if they all agree on the meaning of the agreement. If each has a different interpretation of the terms and condition ,then you almost certainly have a poorly drafted agreement, one that will cause problems and misunderstandings. Amend it to accurately reflect the precise terms and conditions and you will avoid potential multiple difficulties down the road. Shoddy, carelessly drafted agreements which are subject to many different interpretations have no place in professional real estate brokerage and must be avoided. For additional information on agreements to purchase or sell go to “Essentials of an agreement to purchase or sell in New Orleans market” listed on our web site under information.

The preceding article is subjective and represents the professional opinion of the author/ real estate broker, Larry Trunk.
   </content>
</entry>
<entry>
   <title>Old Jefferson Real Estate</title>
   <link rel="alternate" type="text/html" href="http://www.larrytrunk.com/market_info/old_jefferson_real_estate.html" />
   <id>tag:www.larrytrunk.com,2006://1.47</id>
   
   <published>2006-09-12T00:17:26Z</published>
   <updated>2007-03-05T05:48:10Z</updated>
   
   <summary>Old Jefferson Real Estate Larry Trunk, Inc. has many real estate agents that sell and list real estate in the Old Jefferson, Louisiana area. Old Jefferson is an unincorporated section of Jefferson Parish. It is located south of Metairie and...</summary>
   <author>
      <name></name>
      
   </author>
         <category term="Market Info" scheme="http://www.sixapart.com/ns/types#category" />
         <category term="Parish - Jefferson" scheme="http://www.sixapart.com/ns/types#category" />
         <category term="Real Estate - Old Jefferson" scheme="http://www.sixapart.com/ns/types#category" />
   
   
   <content type="html" xml:lang="en" xml:base="http://www.larrytrunk.com/">
      <![CDATA[<h1>Old Jefferson Real Estate</h1>

Larry Trunk, Inc. has many real estate agents that sell and list real estate in the Old Jefferson, Louisiana area. Old Jefferson is an unincorporated section of Jefferson Parish. It is located south of Metairie and on the East Bank of the Mississippi River. It has many cottages and older homes. Its main corridors are Clearview Parkway and Jefferson highway.]]>
      <![CDATA[Old Jefferson had little flooding during Hurricane Katrina. It is located near many restaurants and shopping areas. It is close to many medical facilities.

Old Jefferson has plenty of tree-lined streets and is a rapidly growing real estate market.

We have several real estate professionals that target Old Jefferson Real Estate listings. There is great demand for this area since Hurricane Katrina. 

Old Jefferson is in the 70121 zip code.

Old Jefferson has a wide variety of residential properties. Old Jefferson real estate has every thing from single-family homes to income producing properties. Old Jefferson is a short commute to the CBD and Metairie.

When you have to buy or sell real estate in Old Jefferson, Think Larry Trunk!

 <h3>Call Larry Trunk at 504-885-9544 for Old Jefferson Real Estate</h3>

<h4>Other Real Estate areas near Old Jefferson, Louisiana<h4>

New Orleans Real Estate

Harahan Real Estate

Kenner Real Estate]]>
   </content>
</entry>
<entry>
   <title>Metairie Real Estate</title>
   <link rel="alternate" type="text/html" href="http://www.larrytrunk.com/market_info/metairie_real_estate.html" />
   <id>tag:www.larrytrunk.com,2006://1.46</id>
   
   <published>2006-09-11T23:57:26Z</published>
   <updated>2007-03-05T05:46:59Z</updated>
   
   <summary>Metairie Real Estate Larry Trunk, Inc. is located in Metairie, Louisiana and is the area’s best Real Estate brokerage firm. Larry Trunk’s Metairie based real estate agents work really hard to sell properties....</summary>
   <author>
      <name></name>
      
   </author>
         <category term="Market Info" scheme="http://www.sixapart.com/ns/types#category" />
         <category term="Parish - Jefferson" scheme="http://www.sixapart.com/ns/types#category" />
         <category term="Real Estate - Metairie" scheme="http://www.sixapart.com/ns/types#category" />
   
   
   <content type="html" xml:lang="en" xml:base="http://www.larrytrunk.com/">
      <![CDATA[<h1>Metairie Real Estate</h1>

Larry Trunk, Inc. is located in Metairie, Louisiana and is the area’s best Real Estate brokerage firm. Larry Trunk’s Metairie based real estate agents work really hard to sell properties.]]>
      <![CDATA[ We try to find the best property for the potential buyer. We also work hard to get Metairie area real estate listings. Metairie is a diverse area of unincorporated Jefferson Parish. Metairie contains just about any type of real estate you might look for. Metairie has commercial real estate, single-family homes, Retail real estate, and income producing real estate. Metairie is sandwiched between Kenner and New Orleans and Old Jefferson and Lake Pontchatrain. Metairie area homeowners often refer friends and neighbors to Larry Trunk agents when the need to get their Metairie property sold. 

Metairie is the most economically thriving area of Jefferson Parish. It has a wonderful mall and is known for many popular restaurants on Veterans Memorial.

Causeway, Clearview Pkwy, and David Drive are three of Metairie’s North South Corridors. Its East West Corridors include Airline Highway, West Metairie, West Napoleon, West Esplanade, and I10.

Need to buy or sell real estate in Metairie, we can help!

 <h3>Call Larry Trunk at 504-885-9544 for Metairie Real Estate</h3>

<h4>Other Real Estate areas near Metairie, Louisiana</h4>

New Orleans Real Estate

Harahan Real Estate

Old Jefferson Real Estate]]>
   </content>
</entry>
<entry>
   <title>Kenner Real Estate</title>
   <link rel="alternate" type="text/html" href="http://www.larrytrunk.com/market_info/kenner_real_estate.html" />
   <id>tag:www.larrytrunk.com,2006://1.45</id>
   
   <published>2006-09-11T23:46:00Z</published>
   <updated>2007-03-05T05:47:30Z</updated>
   
   <summary>Kenner Real Estate Larry Trunk, Inc. serves the Kenner, Louisiana area as the best Real Estate brokerage firm. Larry Trunk’s agents work really hard to sell properties. Kenner homeowners often turn to Larry Trunk agents to get their property sold....</summary>
   <author>
      <name></name>
      
   </author>
         <category term="Market Info" scheme="http://www.sixapart.com/ns/types#category" />
         <category term="Parish - Jefferson" scheme="http://www.sixapart.com/ns/types#category" />
         <category term="Real Estate - Kenner" scheme="http://www.sixapart.com/ns/types#category" />
   
   
   <content type="html" xml:lang="en" xml:base="http://www.larrytrunk.com/">
      <![CDATA[<h1>Kenner Real Estate</h1><br>

Larry Trunk, Inc. serves the Kenner, Louisiana area as the best Real Estate brokerage firm. Larry Trunk’s agents work really hard to sell properties. Kenner homeowners often turn to Larry Trunk agents to get their property sold. This is why people often refer their friends to Larry Trunk agents when selling their Kenner area real estate.]]>
      <![CDATA[Kenner is a diverse area encompassing land between Lake Pontchatrain an the Mississippi River. Kenner goes from the edge of Metairie to the edge of St. Charles Parish.

The Kenner real estate market offers many types of properties. From single-family homes to rental income units, Kenner Real Estate has it all.

Kenner is located in Jefferson Parish. Kenner is an incorporated area, so Kenner Real Estate may be subject to additional city taxes.

 Kenner has some very interesting real estate in Rivertown. This area has great museums and restaurants. There are many festivals held during the year in Kenner’s Rivertown. There is a Casino near the lake that really brings in the tourist. Kenner is also home to the Pontchatrain Center, a full service convention center located near the lake.

Kenner did suffer damages during Katrina, but they are clearly in the recovery phase.

Our real estate professionals can help you sell or buy Kenner Real Estate.

<h2>Call Larry Trunk at 504-885-9544 for Kenner Real Estate</h2>

<h2>Other Real Estate areas near Kenner, Louisiana<h2>
New Orleans Real Estate
Harahan Real Estate
River Ridge Real Estate]]>
   </content>
</entry>

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