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The French Quarter, also known as Vieux Carré, is the oldest and most famous neighborhood in the city of New Orleans, Louisiana. When La Nouvelle Orléans ("New Orleans" in French) was founded in 1718 by Jean-Baptiste Le Moyne de Bienville, the city was originally centered on the French Quarter, or the Vieux Carré ("Old Square" in French) as it was known then. While the area is still referred to as the Vieux Carré by some, it is more commonly known as the French Quarter today, or simply "The Quarter." The district as a whole is a National Historic Landmark, and contains numerous individual historic buildings.

When valuing properties in the French Quarter the historic charter and significance of the property cannot be understated. The appraiser cannot simply look at square footage and condition and make sense of this market. The market for historic properties in the French Quarter is the buying public carefully attuned to properties of historic distinction willing to pay a premium for interesting, historic properties regardless of condition. In fact, properties those have not been renovated and are in original condition with original details often command more than properties where those details have been removed in the course of a renovation.

In my opinion, one of the worst things a prospective seller could do in the French Quarter is embark on a standard "home-depot" renovation with no high-end finishes. Standard renovations of kitchens and the baths often have finishing that many buyers wanting something uniquely "French Quarter" would want to remove. Worse still is removing any historic finishing, such as fireplace mantles, heart pine flooring, plaster medallions, pocket and/or cypress doors. And unlike most of the market, vinyl windows will only depreciate your property unless they are custom. The final result of any renovation must look like a home that speaks of “French Quarter” history.

A look at a home I recently appraised in the French Quarter reinforces this argument. The subject was a fairly typical Creole double that has been converted into a single family residence. Other than its facade however the subject is a standard "renovated" home that is typical of renovated homes anywhere. The result was the home was one year on the market and sold at the low end of the market.

Often time’s unrenovated properties will sell at a higher price per square foot. And example is a recent sale of a rare and well preserved masonry Creole/Greek Revival townhouse with an iron work balcony, dormered third floor and slate roof. This property also has 15/16 foot ceilings and marble fireplaces with original plaster work, crown moldings and ceiling medallions. Upon entering this home, I was presented with an exquisite original winding staircase to the second floor, Cypress pocket doors and wide plank flooring. All of these features worked to sell this property to an interested buyer at a premium per square foot despite the fact that the home needed complete renovation.