Vincent Giordano

"If you're a buyer, it depends on the area, of course," says Vince Giordano, owner of Metairie-based Exit Crescent Realty.
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Even though land is cheap in Lakeview and its surrounding neighborhoods, Giordano warns potential buyers of damaged homes about putting too much money into rehabilitating properties.He says buying a house in a Katrina-affected neighborhood might not be the best investment."It's a risky proposition," he says."We don't know if these areas are going to stabilize."The city is always changing, and no one knows if the most flooded areas will ever be completely restored, he adds.
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"I'm sure every agent would tell you the primary thing you have to do is make sure your price is appropriate," Giordano says.
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Giordano says he has seen big investment groups make offers on houses, sit under contract, then, at the last minute, walk away from the deal claiming their loan wasn't approved.He says this has happened more than once.

"There's not a whole lot you can do in Louisiana," Giordano says."The contracts really benefit the buyer.It's difficult to prove buyers are breaching contracts.It's easy for them to get a lending company to say a loan wasn't approved."

If a deal falls through at the last minute, sellers have to wait even longer for their homes to be bought.To prevent something like this from happening, Giordano advises sellers not to jump into contracts too quickly.

"Have patience," he says.

Vince Giordano, Owner/Broker

Vincent Giordano -- Exit Crescent Realty -- Metairie

Vincent Giordano --Exit Crescent Realty-- Metairie

Vincent Giordano -- Exit Crescent Realty-- Metairie

Vince Giordano

Vince (1st black, August 2006) is owner/broker of Exit Crescent Realty.