As REALTORS® we strongly believe in the American Dream of homeownership. We also believe in investing in our community with new construction and property development. Our Association office was devastated during the hurricane. We turned this disaster into an opportunity. We are investing $3,000,000 in Jefferson parish by acquiring additional land for parking and building a 12,000 square foot, elevated, energy efficient facility built to the new stronger, safer building codes. This facility will allow us the capacity to serve our 5500 and growing membership. A state of the art conference facility will allow us to provide REALTORS® additional educational offerings so that they can continue to assist their clients with the complicated challenges they face today in the home buying and selling process. As a qualified professional, a REALTOR® can take you through the challenges you will incur in the process and help you avoid the pitfalls. One of the greatest challenges is insurance. REALTORS® are working with our elected officials in an attempt to develop a solution to this on-going problem.

After a booming real estate market in 2006, activity slowed down a little during the holidays. Now real estate activity has started to pick up and we expect 2007 to show a great increase in activity as the year goes on. Interest rates remain low.

Currently there are two markets for housing

Ø buyers who are willing to pay premiums for ready "to move in" non-flooded minimal damage houses, and

Ø buyers who accept the challenge of rebuilding with the hope of achieving windfall profits.

Non flooded and repaired houses are showing an increase in value. Prices of minimally damaged or undamaged property are up 10% to 16% in most parishes and a huge 25% in Orleans since Hurricane Katrina. Throughout the metro area existing housing unit sales volume has soared by 20% to 30% above the already high volumes of 2005 before Katrina