Industry News

New Orleans real estate company rebuilds, adapts

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

NEW ORLEANS -- Arthur Sterbcow has dealt with a lot of flat tires in the past year -- 17 at last count. It's not surprising given the countless roofing nails, broken bits of glass and other debris that still litter the streets around the flood-ravaged neighborhoods of New Orleans. Curb appeal is not a high priority in the area's real estate market these days. There are bigger worries, like when and if the insurance proceeds are going to come through, how much insurance will cost, when and if residents will choose to return to the city or sell off their homes, and what types of repairs are necessary to make the homes livable again while complying with building codes. Real estate companies have reinvented themselves in the wake of Hurricane Katrina. Historic market statistics became meaningless, and the tangle of government programs and insurance headaches facing home buyers and sellers brought new challenges for real estate agents. "All real estate is local -- now it's even more lo...