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Real Estate

With low inventory, many homes selling in a week or less

Homes for sale sat on the market for an average of only one week before going under contract from July 2020 through June 2021, a record low, according to newly released results of a National Association of Realtors survey.

US home equity rises during third quarter as market prices continue surge

Nearly 40% of mortgaged residential properties in the U.S. were considered equity-rich in the third quarter, according to ATTOM’s third-quarter 2021 U.S. Home Equity...

Developers turning abandoned office buildings into apartments  

Abandoned office buildings all over the country are being converted into apartments, similar to developer Mike Wampold’s plans for the former Chase Towers, Axios reports.

Work underway on mixed-use section of Harveston

Work is underway on the mixed-use portion of Harveston, the traditional neighborhood development at Nicholson Drive and Bluebonnet Boulevard, developer Mike Wampold says.

Ohio company buys Airline property for $4.8M

An Ohio-based business development company bought property housing Conn’s HomePlus at 8888 Airline Highway in a $4.8 million deal on Friday.

Serop’s Express on College Drive closes 

The College Drive location of Serop’s Express has closed, and owner Vasken Kaltakdijian is looking to lease the 2,600-square-foot building, according to Mark Hebert of Kurz & Hebert Commercial Real Estate. 

Florida Boulevard shopping center sold to local investors for $3.8M

A Baton Rouge-based LLC bought a shopping center at the corner of North Ardenwood Drive and Florida Boulevard for $3.8 million in a deal that closed Monday.
commercial office space

Commercial concerns

Office occupancy rates, already soft, have held fairly steady throughout the pandemic but some fear that will end when long-term leases come up for renewal.

Addressing a problem…or creating havoc?

New federal flood insurance rules and pricing are meant to curtail development in high-risk areas, but so far they’re only generating controversy.

Apartments sold to nonprofit that creates affordable housing for vets

Patriot Services Group, a nonprofit that creates affordable housing for veterans, recently purchased Kingston Point Apartments on Boulevard De Province for $7.3 million in a deal that closed Friday.