New Orleans is putting more than 140 vacant properties up for auction, with bidding starting at just $4,000. But cheap land doesn't necessarily mean a good Real Estate deal. In this episode of Louisiana Real Estate Talks, Courtney Fricke and Stephen Keighery break down the 2026 New Orleans Redevelopment Authority (NORA) property auction and what buyers need to know before placing a bid. The auction includes more than 100 residential lots throughout New Orleans, along with approximately 40 properties designated for non-housing development options. We discuss how to evaluate these properties before bidding, why a $4,000 starting bid can be misleading, and why buyers need to understand the economics of developing the property before getting caught up in the excitement of an auction. Courtney and Steve also break down how a developer should work backward from the finished value of a property by considering construction costs, soft costs, holding costs, insurance, potential resale value, required profit, and ultimately the maximum amount that makes sense to pay for the land. The NORA auction is scheduled for September 29–30, 2026. If you're considering bidding, review the official auction documents, property-specific requirements, and NORA information before making a decision. NORA INFORMATION: https://www.noraworks.org/news/287-nora-to-auction-more-than-140-properties-citywide AUCTION / PROPERTY LIST: https://www.tranzon.com/key5200 ATTENTION: The information shared in this episode is for educational and informational purposes only and reflects personal experiences and opinions. It is not intended as legal, tax, financial, Real Estate, or investment advice. Auction terms, development requirements, zoning, title, financing, construction costs, and property conditions can vary by property and situation. Buyers should conduct their own due diligence, review the official auction documents, and consult qualified attorneys, title professionals, contractors, lenders, insurance professionals, and other appropriate experts before purchasing or developing Real Estate. Connect with Stephen Keighery:YouTube: https://www.youtube.com/@UCBFQ_43MCI9tJ8tB6m9q92g Instagram: https://www.instagram.com/stephenkeighery/ TikTok: https://www.tiktok.com/@stephenkeighery LinkedIn: https://www.linkedin.com/in/stephenkeighery/ Facebook: https://www.facebook.com/stephen.keighery X: https://x.com/stephenkeighery Website: https://homebuyerlouisiana.com/about-us/stephen-keighery/ Connect with Courtney Fricke: Instagram: https://instagram.com/courtneyfricke TikTok: https://tiktok.com/@courtney.fricke Facebook: https://www.facebook.com/courtneyfricke19/ X: https://x.com/courtneyfricke YouTube: https://www.youtube.com/@courtneyfricke LinkedIn: https://www.linkedin.com/in/courtney-fricke-705700149/ Website: www.CourtneyFricke.com Join Curative Title Investing Facebook Group: https://www.facebook.com/groups/curativetitle If you care about what's happening in Louisiana Real Estate, subscribe to Louisiana Real Estate Talks. We break down the projects, policies, market changes, economic developments, and opportunities shaping Real Estate across Louisiana, and more importantly, what they actually mean for the people buying, selling, investing, developing, and doing business here. If you found this episode helpful, like the video, leave a comment, subscribe to Louisiana Real Estate Talks, and share this episode with someone considering bidding in the NORA auction. Every like, comment, subscription, and share helps us get these conversations in front of more people who care about the future of Louisiana Real Estate.