Real Estate Information

Fresh from our Blog

Blog

Displaying blog entries 1-10 of 98

Make it a red, white, & blue summer!

by Adam Watkins

      I'm not sure about you and your family, but May is a month filled with so many tremendous annual milestones for our team and our families.  From birthdays, to weddings, anniversaries, and graduations, it's hard to believe that so much can occur inside of 31 days.  DeLois celebrated another birthday on the same day that Amelia and I marked an anniversary.  One of our dedicated team members, Lauren Lott, completed her undergrad degree in education at the University of Southern Mississippi (congrats, Lauren!); and DeLois' grandson, Robert, celebrated nuptials as well as his new bride's graduation in a single event they termed a "graduwedding."  They simply killed two birds with one stone! How's that for efficiency?  Anyone who knows Robert is not surprised by this creativity!  Perhaps he learned some of that from his grandmother?

      For me, May also included an annual pilgrimage to Washington, D.C., on behalf of the Mississippi REALTORS.  Many of you are aware of the additional work that the team allows me the opportunity to do in service to REALTORS and the real estate industry on the local, state, and national levels.  This journey of service is one that began in 2005 with my first serious efforts in association work on the local level, and it continues to this day in various capacities within our local, state, and national associations.  One of the most impactful efforts REALTORS make is our annual visit to the office of every Congressman/woman and Senator each May in D.C.  During our meetings we discuss the impacts of policy proposals and regulatory changes on the real estate industry and property owners in general.  This year, we focused on maintaining the availability of affordable flood insurance, protecting the tax advantages of owning a home, and preserving the integrity and liquidity of the secondary mortgage market through FannieMae and FreddieMac. Since housing and real estate comprises such a large percentage of the nation's economy, the overarching message to lawmakers was, "Do no harm to housing!"  As the nation's largest trade association, as well as the single entity dedicated to advocating on behalf of property owners, the message was delivered loud and clear once more as nearly 10,000 REALTORS filed into the Senate and House office buildings over the week of May 14 - 20. The effort continues on a daily basis through our Governmental Affairs teams at all levels of government.  The neat thing is, anyone can join our party - even you!  We call it the REALTOR Party because there is no political party affiliation - only the desire to support candidates who support and protect housing and property ownership rights.  I've included a few photos of events throughout the week, including meetings with Senators Cochran and Wicker as well as Congressman Palazzo.

      As you can see, being a REALTOR is far more than marketing and managing the sales of property.  On a larger level, it's becoming a caretaker of the American Dream and property ownership rights for millions of property owners nationwide. It's a role that we are honored to serve and proudly fill, and an opportunity to contribute to a high and worthy purpose.

      Speaking of American Dreams...let us not forget that if it weren't for the divinely inspired efforts of some very brave men and women some 241 years ago, the freedom of property ownership as we know it would not  exist.  It's part of the reason our team sets aside each July 4th to celebrate the birth of our country with all of our friends and past clients. This July 4th will be no different!  Go ahead and mark your calendars for our annual July 4th festivites being hosted at Canebrake Clubhouse between 11:00 and 1:00.  We invite each of you to RSVP and join us (more event info to follow in coming days).  The program is changing this year to feature the performance of  "Victory Belles" of the National WWII Museum in New Orleans.  We're excited to have secured them as special guests.  You won't want to miss it!

      As we stand on the precipice of Summer 2017, I can't help but be a little excited about the possibilities and celebrations of the season.  Our team stands ready to become part of those with you whether it be the purchase of sale of a new piece of property or simply joining together at our annual July 4th reunion.  Regardless, we are here and we are ready to deliver the power of a team to you and those you care about!

Make it a red, white, and blue summer!

Adam & Team

Father Figures

by Alisa Sewell, Buyer Specialist

     Human nature causes us to have a tendency to reflect on our lives and on the people who have impacted us in a positive way.  In the month of June, we honor fathers for the crucial role that they play in shaping their families. For many people, however, fathers are absent in the home, and other people step up to fill that role.  As I celebrate Father’s Day this year, it is not hard for me to remember the three important men who have encouraged, supported, and loved me unconditionally throughout my life:  Terry, Pete, and Ken.

     There was a picture of me as a preschooler standing next to a newlywed couple on the steps of a church.  I was supposed to be with my mom decorating the newlyweds’ car, but somehow I was drawn to the excitement happening in the front of the church.  The bride was my mother’s sister, Trish, and the groom was Terry, who became my uncle that day.  Early on, I felt compelled to hang out with him.  I loved to watch him work on cars, and he could fix most anything.  When I went off to college, he promised to look after my mother, who was recently divorced.  He kept my Volkswagon Beetle running, even putting new tires on it when I could not afford to purchase them.  When I asked how I could repay him, Terry assured me that making good grades in college was sufficient.  When I bought my first car after college, he was the one who helped me with my decision and negotiated with the car salesman.  Since Uncle Terry had kept my VW Beetle running all of those years, it was an easy decision to give him the car.  Being a great listener, Terry helped to fill a void in my life.  Whenever I was having troubles, he was sympathetic and encouraging.  He shared his personal stories helping me to view things from a male’s perspective.  When my big day came to walk down the aisle, I asked Uncle Terry to do me the honor of giving me away.  I cherish the fact that he filled in the gaps throughout my childhood and treated me like the daughter he never had.

     Another important man in my life was Pete, my father-in-law.  I began dating his son my junior year of high school.  Pete was a fun-loving person who always had a great story to tell.  He traveled extensively with his job as a furniture representative for the state of Georgia.  He never met a stranger and could relate to every person he encountered.  He was generous to a fault.  When I was driving back to college one weekend, he asked if I had any money.  He was not trying to embarrass me, but he was aware of my family’s tight financial situation.  He gave me twenty dollars with the stipulation that I did not have to pay it back if I ever had to use it, which is not standard procedure when a person receives a loan.  Of course, I used the money at some point, but, when I had a summer job, I stuck a twenty dollar bill in his shirt pocket while his hands were in a sink of dishes because I knew he would protest.  Possessing a sensitive side, Pete was the one to cry as his son drove off for college as a freshman, and he was the only one of our parents who shed a tear at our wedding.  Pete loved to laugh and to make others laugh.  He would never admit it, but he was the culprit who hired the entertainment who interrupted our wedding rehearsal dinner.  It was a PG-rated performance since the minister and his wife were in attendance.  The minister later was heard saying that he had never had more fun at a wedding rehearsal.  Pete loved his family dearly and showed it with his many acts of kindness.  His five grandchildren were the apple of his eye.  I cherish all of the fond memories that I have of him, and his legacy lives on in the hearts of his family and friends.

     It is hard to put into words how much this last man has impacted my life.  My husband, Ken, has been my biggest role model of unconditional love and support.  He possesses so many great qualities that won my heart in adolescence.  Ken and I attended school together from third grade through college.  When we began dating in high school, we discovered that Ken’s family had lived in the same neighborhood as my Uncle Terry and Aunt Trish when he was younger.  We vaguely remembered playing together in the neighborhood when I would visit my uncle and aunt.  It seemed our paths had crossed sooner than elementary school, and we were meant to share our lives.  Ken and I will celebrate twenty-seven years of marriage in July, and we are blessed to have our three children.  From changing diapers to teaching life-long skills, Ken has been a devoted father who has always been involved in all aspects of raising our children.  He has been faithful to be present at games, dance recitals, school programs, emergency room visits, but also he has made himself available when our children have needed him, such as speaking words of comfort and truth to mend our daughter’s first broken heart to accompanying our son out of state for his first job interview.  Ken has encouraged our children to follow their dreams and has instilled in them a strong work ethic by his example.  Following the role model set by his father, Ken loves his family dearly, possesses a great sense of humor, and believes the best of others. 

     I cannot imagine how my life would have been altered had I not had these three individuals in my life.  I am forever grateful for their positive influence.  I wish a Happy Father’s Day to all of the fathers and father figures who have made a difference in the lives of their families and of others.

Again… You Do Not Need 20% Down to Buy NOW!

by The KCM Crew

survey by Ipsos found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. There are two major misconceptions that we want to address today.

1. Down Payment

The survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, 40% of consumers think a 20% down payment is always required. In actuality, there are many loans written with a down payment of 3% or less.

Many renters may actually be able to enter the housing market sooner than they ever imagined with new programs that have emerged allowing less cash out of pocket.

2. FICO® Scores 

The survey also revealed that 62% of respondents believe they need excellent credit to buy a home, with 43% thinking a “good credit score” is over 780. In actuality, the average FICO® scores of approved conventional and FHA mortgages are much lower.

The average conventional loan closed in February had a credit score of 752, while FHA mortgages closed with a score of 686. The average across all loans closed in February was 720. The chart below shows the distribution of FICO® Scores for all loans approved in February.

Bottom Line

If you are a prospective buyer who is ‘ready’ and ‘willing’ to act now, but are not sure if you are ‘able’ to, call The All-Star Team, REALTORS, will over 300 years experience and over 5,000 properties bought or sold, we can help you every step of the way.

 

Spring Update with DeLois

by DeLois Smith

Celebrating the merry month of May still lifts my spirits after celebrating more that “just a few” of them! May marks so many milestones; and it is one of our most beautiful months of the year.  For our team and families there are graduations, bridal and baby showers, Mother’s Day, wedding, special birthdays and anniversaries.  Also, team member, Alisa Sewell, will be earning her ‘Accredited Buyer’s Representative’ designation.  Vickie Iverson, accredited professional stager for the past 8 years will be completing MRI courses for becoming a licensed real estate agent.  This process will enable our sellers to benefit from Vickie’s unique skills all the way through the selling and closing process.  Upcoming significant events for our community will bring “Camelot” to our local stage, Mayor’s Prayer Breakfast, City elections, numerous local high school and college graduation ceremonies, and ticket sales for our amazing Festival South June 1st – 17th.

Governor Phil Bryant’s recent announcement of Regions Bank’s plans to build an operations facility in Lamar County at Lincoln Road and Lamar Boulevard is a win for Lamar County and downtown Hattiesburg.  The move is expected to bring about 90 new jobs and to locate about 400 employees to the new facility. Local developers, Rob and Craig Tatum, will be redeveloping the historic buildings which Regions now occupies with the incorporation of a full-service Regions Bank on the first floor of the current Bank Building.

Steve Floyd, Team Commercial Realtor, is the skilled professional who successfully brought these parties together to close these transactions a few weeks ago.  Greg Garraway, South Mississippi President for Regions Bank stated: “Steve has assisted Regions Bank in securing branch sites through the years.  He was very helpful in locating several potential sites for the new operations facility and coordinating with all of the potential sellers involved as well as Regions Facility Group.  This chosen site is just ideal because it will not only serve Regions Bank and employees well, it will expedite further growth for the entire Hattiesburg Area.” 

More accolades came to Steve from fellow Realtor and All Star Team past client, Sherry Underwood.  Sherry represented the estate of David M. Cox, in the sale of the Regions chosen site.  Sherry stated: “This transaction could not have been accomplished without Steve Floyd’s involvement.  He was very instrumental from the beginning in bringing this transaction through to its fruition with the highest degree of professionalism.”

Congratulations to Adam Watkins for his continued advancement and commitment to serve in a demanding leadership role for Mississippi Association of Realtors.  He is currently serving as a Vice President and will be serving as President of MAR in 2019.  Adam will be participating this month in National Association of Realtors (NAR) Legislative meetings in Washington.  He was recently involved in the promotion of HB 1601, The First-Time Home Buyers Savings Plan which made Mississippi the fourth state to have a First-Time Home Buyers Savings Account.

Couples filing jointly can deduct up to $5000 annually for their state adjusted income to create a monetary savings account for a first-time home purchase.  A single first-time home buyer can deduct $2500; these tax credit deductions begin in tax year 2018.

Our local market has become much more competitive in price ranges $70,000 – $299,000.  In 2016, our local MLS reported 272 sales closed in the $70,000 to $299,000 range first quarter; in 2017 closed sales were 353 which is an increase of 29.7%.  Contrasting the $300,000 + range, the 2016 sales closed first quarter were 34 versus 22 in 2017.  Of course, more $300,000 + sales occur during the second and third quarters than during the first quarter.  Over-all our active listings are down by 2.8% and all solds are up by 17.6% at the end of the first quarter!

Three main factors seem to be guiding these changes in our market: 1. The tornado of January has and will continue to be a big influence. 2. The limited new construction influenced by limited new home sites and the appraisals often not matching the higher construction costs. 3. An increase in the first-time homebuyer pool. (Nationwide, 32% of homebuyers were first time in March.)

Our team is looking for properties to serve needs of current buyers.  If you are thinking of selling or know a friend or family member who may need or want to sell, our team is in a position to serve those needs now!!

Happy celebrations to you and your family as you enjoy this wonderful month of May!!  Celebrations bring deep renewal as we recognize and value the achievements of our graduates and other major milestones of our lives!  On that note, I want to thank you for the joy you bring to our team with your referrals of friends and family, kindness, trust, and friendships.

With much gratitude,

Delois

 

Home Mortgages: Rates Up, Requirements Easing

by simplifyingthemarket.com

The media has extensively covered the rise in mortgage interest rates since last fall (from 3.42% last September to the current 4.1% according to Freddie Mac). However, a less covered aspect of the mortgage market is that requirements to get a mortgage have eased while rates have risen.

The Mortgage Bankers Association (MBA) quantifies the availability of mortgage credit each month with their Mortgage Credit Availability Index (MCAI). According to the MBA, the MCAI is:

“A summary measure which indicates the availability of mortgage credit at a point in time.”

The higher the index, the easier it is to get a mortgage. Here is a chart showing the MCAI over the last several months as rates have increased.

Have requirements for attaining a mortgage actually eased?

Yes. Here are two examples:

  1. FICO® Score – the credit score which helps determine a buyer’s eligibility. The score required to attain a mortgage has been falling over the last five months:

  1. Down Payment Requirement – the percentage of the purchase price necessary to place as a down payment on a home. To make this point, let’s look at the percentage of first-time buyers who have put less than 5% down over the last several years as compared to the 1st quarter of 2017:

Bottom Line

Whether you are a current homeowner looking to move to a home that will better serve your family’s current needs, or a first-time buyer looking for a starter home, it is easier to get a mortgage today than it has been at any other time in the last ten years.

 

1,500 Properties Later...

by Adam Watkins

       Although, I've been a part of The All-Star Team since late 1999 (almost 18 years), this past month marked a milestone in my real estate career as I completed my 15th year as a real estate licensee and REALTOR (I write it that way because those two are not one in the same)!  A lot has changed in our market, on our team, and in our lives during these years.  There's also a lot to be thankful for in those 15 years - most of all, those of you who took the chance on a young 22-year-old guy in those early days who had a big dream and a desire to be an ambassador for the community he loves.  Now, close to 1,500 properties later, I can say that I've not only gained experience, but most importantly friendships that continue to bless my career as well as my life.  I'm also grateful for those members of our team who've been a part of the journey - those who are currently serving along side of me, and those who've served alongside me on this journey.  Thank you to DeLois and our team of agents and staff - both past and present who have supported me along the way.  Thanks of course to my wife, Amelia, who has been able to work alongside me daily in this business for the last 10 years and who will celebrate 14 years of marriage with me in May.  Most importantly, thank you to God for blessing my life with the ministry of this career.

       I've always been a little bit of a statistics junkie.  When I first started in the business, I would truly get lost in them.  In fact, for years before I was licensed, I did the research for our team's monthly market updates (like the ones we provide with this newsletter each month).  Calculating the supply and demand for each price range was something I looked forward to doing.  One time I created a chart showing the change in supply and demand over a period of several years!  Add a couple of kiddos and managing a real estate team, and it gets a little more challenging to devote the time it takes for me to produce these things manually these days.  Plus, technology and our MLS systems are more robust to do these things automatically now, which helps.  It always intrigued me how quickly our market levels could change, though.  That's why when folks ask me how the market is, it's important to realize how complex markets are and how quickly they change in order to answer such a question.  For instance, a major disaster, sudden economic downturn, or other factors can quickly impact a market.  Many of you recall the days after Hurricane Katrina and how our market became under supplied for a period of time. Nearly 2 years later in August of 2007, the exact opposite was true as the supply of new construction homes that were listed in the MLS system increased by approximately 400% in only 30 days time (end of July to end of August 2007). Suffice it to say that real estate markets can be compared to the weather in Mississippi.  They can change quickly and vary from location to location!

       So what about now?  Well in general, and for many of our locations (Petal and Oak Grove in particular), we've been experiencing low supply levels in the price ranges between $100k and $200k in our market.  This is partially due to the reduction in inventory in these price ranges following the January 21st tornado.  Several homes that would have been in this price range were removed from the market, and the need to replace those homes increased.  As we migrate to the $200k to $250k ranges, the inventory is abundant in the City of Hattiesburg, but in the 4 to 5 month range in Oak Grove, Petal, and Sumrall, again underscoring the principle that markets are local in nature and driven by specific factors within each market.  Where there is agreement in our market is once you go over $300k, where our supply levels are quite high and our selections are abundant.  We began noting the oversupply in these price ranges particularly in the $300K to $500K range in the first and second quarters of 2016.  For a while we were trying to determine why this was. The fact is that purchases in this price range are driven by strong employment in job sectors where income levels are high relative to the median incomes in our market.  After reviewing previous years sales activity, we were able to pinpoint the oil and gas industry as one job sector that produces jobs meeting this criteria which has experienced difficulty over the last 18 to 24 months.  And, as a result, the number of buyers entering this price range has been reduced when compared to the years prior to 2015.  

       Perhaps some of your eyes are glazed over by the discussion of statistics, but I thank you for sticking with me (assuming you have).  For those who are curious, hopefully your understanding of our market at this moment has been increased.  Either way, I hope what you will see in our team a desire to understand and study our market in such a way that when you hire us, you're hiring a group who values understanding these factors and how they impact your property investments.  When you're recommending REALTORS to others, or choose to hire us to serve you, please know that we make it our business to understand our markets so that we can best counsel and advise.  Our mission is to serve you again...and again with the best service and knowledge in our marketplace.  Have questions about our market update?  Feel free to e-mail me at adam@allstarteam.com.  I'll be happy to discuss it with you. It's just one of the ways in which we strive to be your Greater Hattiesburg Market Experts.

 

Looking to move up to a luxury home? Now's the time!

by The KCM Crew

If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! We recently shared data from Trulia’s Market Mismatch Study which showed that in today’s premium home market, buyers are in control.

The inventory of homes for sale in the luxury market far exceeds those searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer, or can be found at a discount.

Those who have a starter or trade-up home to sell will find buyers competing, and often entering bidding wars, to be able to call your house their new home.

The sale of your starter or trade-up house will aid in coming up with a larger down payment for your new luxury home. Even a 5% down payment on a million-dollar home is $50,000.

But not all who are buying luxury properties have a home to sell first.

In a recent Washington post article, Daryl Judy, an associate broker with Washington Fine Properties, gave some insight into what many millennials are choosing to do:

“Some high-earning millennials save money until they are in their early 30s to buy a place and just skip over that starter-home phase. They’ll stay in an apartment until they can afford to pay for the place they want.”

Bottom Line

The best time to sell anything is when demand is high and supply is low. If you are currently in a starter or trade-up house that no longer fits your needs, and are looking to step into a luxury home… Now’s the time to list your house for sale and make your dreams come true.

 

US Housing Market is Moving Into 'Buy Territory'!

by keepingcurrentmatters.com

According to the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across the country remain a sound investment.

The BH&J Index is a quarterly report that attempts to answer the question:

In today’s housing market, is it better to rent or buy a home?

The index examines the entire US housing market and then isolates 23 major cities for comparison. The researchers “measure the relationship between purchasing property and building wealth through a buildup in equity versus renting a comparable property and investing in a portfolio of stocks and bonds.” 

While most of the metropolitan markets examined moved further into buy territory (16 of the 23), markets like Dallas, Denver, and Houston are currently deep into rent territory. In these three markets, it is estimated that renting will top homeownership 7 out of 10 times.

Due to a lack of inventory, the home prices in the Dallas, Denver, and Houston areas have increased by 11.6%8.3%, and 6.6% respectively. Home prices in these areas will begin to return to more normal levels once residents realize that renting is not the best option, therefore bringing home affordability back as well.

Bottom Line

The majority of the country is strongly in buy territory. Buying a home makes sense socially and financially, as rents are predicted to increase substantially in the next year. Protect yourself from rising rents by locking in your housing cost with a mortgage payment now.

Surviving the Storm

by Adam Watkins

The last time I recall this feeling was over a decade ago - August 29, 2005.  That date of infamy certainly has not been replaced, but Friday, January 20, 2017, will be added to 8/29/05 as a date I will never forget.  Where were you that Friday evening and early Saturday morning?  On Friday afternoon, I was on my way back to Petal from Tupelo and Corinth, MS, after having visited their respective Boards of REALTORS on behalf of our state association.  Following a busy week, my awareness of impending weather was extremely limited, I must admit.  I arrived home that evening excited to see my girls and somewhat exhausted from a busy week.  By Saturday morning, so much had changed.  An EF-3 tornado had traveled from just north of Purvis through Hattiesburg, devastating my beloved William Carey University, and beyond into Petal.  Over 1,000 homes impacted and 4 lives lost, not counting the businesses destroyed.  So much quickly changed for our community, and so much was simultaneously placed into a proper perspective.

The past couple of weeks have been consumed with recovery and clean up.  And though this is a new experience, and one I confess that I never want to relive, it's a familiar one.  Hurricane Katrina, the 2013 tornado, and now 4 years later - a larger tornado, have developed a resiliency in our area that inspires pride and confidence in our community.  We don't wish for these challenges, but let's face it.  We've been here before.  We know how to rise from the devastation, and in the process, we grow closer and stronger as a community.  It's inspiring to witness and be a part of it, and it's a reminder of the beauty and quality of South Mississippians.  If you're new to our area, I hope you'll take note of this special quality amongst our people and seize the opportunity to embrace it for yourself.  

By late Saturday and Sunday, thousands of volunteers were working to help those devastated by the events of January 20th.  Amelia and our girls gathered with our Carterville Baptist Church family that Sunday morning to worship and pray.  We were also greeted with the news that Samaritan's Purse would be basing their operations from our church campus.  Mississippi Baptists were setting up operations at Petal First Baptist, and hundreds (if not thousands) in our Hattiesburg/Petal community were rolling up their sleeves, opening up their hearts, and giving of their resources to help.  It truly has been a beautiful picture to witness and take part in.

The recovery will take months and years, but it's reassuring to know that we are a part of a community that cares, gives, and loves.  There are dozens of organizations contributing to the rebuilding of our beautiful Hattiesburg Metro.  If you're interested in serving but don't know where, teams are currently setting out daily to Hattiesburg and Petal at 7:30 a.m. and 12:30 p.m. from Carterville Baptist Church in Petal (1115 Carterville Road in Petal).  Regardless of your experience and skill, you can be used.  Won't you join us?  All you have to do is show up!  Together, we will bring Hattiesburg, Petal, and the Pine Belt home again....post 1/20, and along the way, your real estate team is ready to do its part!

Your REALTORS for life...

Adam & Team

Welcome 2017!

by DeLois Smith

       Change! Change! New Opportunities! New Optimism!  Looking around here in Hattiesburg, we see great opportunities in excellent housing values and commercial investments.  New listings are coming in regularly as the New Year is beginning.

       Investors are moving more aggressively toward new projects.  The Indigo Hotel is one of those pivotal new developments in the recently renamed area called “Midtown.”  With more than fifteen spaces available, downtown is becoming a popular place to hold events.  The Bottling Company can accommodate up to 1,000 guests.  Cloverleaf Mall has an entirely new group of tenants.  Our Team Commercial Realtor, Steve Floyd, has been the manager there for 22 years.  Steve has some office and retail spaces with interested new tenants, but with some openings currently not committed.  The Western Corridor has numerous new construction sites and new business locations springing up from Turtle Creek Mall to Bellevue.  Our team has several of these locations listed for sale out west as well as downtown, up and down 49 North and South and some new locations in Petal too.      

       New team events were planned recently for 2017 during a two-day session led by Adam Watkins.  We carefully looked back at 2016 to determine “our hits” – what we felt we did well.  We especially looked hard at “our misses” – areas we felt we can improve in 2017.  The exercise is in keeping with our long-term company goal “to build client relations based on honesty, loyalty, understanding, accountability, and to use our creativity and market expertise to help you, our clients, navigate the complex real estate market.” As a result, we are committed to create long-term benefits for you, our clients.

       Upcoming events in the first quarter are Real Estate Investment Seminars January 26th and March 23rd scheduled at the Canebrake Club House at 6 pm each evening.  March 17th will be a fun day trip to Fairhope Arts and Crafts show hosted by Brenda Blackwell, Linda Siefert, Paula Claret, Lauren Pace, and Alisa Sewell.  Stay tuned for more new upcoming events throughout the New Year!

       Rising interest rates is a hot topic, but for a move described as “lift off” our interest hike so far is awfully tame.  I believe it is realistic to expect at least a 1% over-all rise this new year.

NAR Chief Economic Advisor, Lawrence Yun, Expects These Changes in 2017:

  • There will be no doubt a short-term stimulus to the economy.
  • Changes to Dodd-Frank financial regulations will occur.  A clear position would be the lifting of compliance costs on small banks.  Around 10,000 local banks have traditionally been the source of funding for construction and land loans.  With less regulations, these banks can make more loans and will boost home building activity – something greatly needed in the current new construction shortage.
  • There could be a move away from stringent mortgage underwriting to more normal lending.  Credit is still tight for mortgages evidenced by very high credit scores among those who are getting approved.  One important reason for overly-conservative lending   is due to the exposure of random law suits by the government on lending institutions in recent years.
  • There could be less regulatory land-use and zoning burden for home construction, and thereby lower the cost of building.
  • Homeowners in flood zone and who suffer natural disasters may get less relief from the government.  Currently this federal program to assist in wild fires, hurricanes, earthquakes and other natural disasters is $24 billion in the hole.

       Mississippi is one of three states which has been lagging behind the gains being experienced throughout most of the country.  However, these and other changes related to the overall economy should help both the residential and commercial markets including our area in the upcoming year.

       In 2017, don’t wait for spring to sell your home!  Home sellers often wait until spring to put their properties on the market.  However, local weather and other market variations can shift the ideal listing time.  Right now, new inventory is getting more attention because there are fewer homes available  Also, the fact that rates will be rising puts more buyers in the market. Source:  Bottom Line.  We are prepared to focus on effective results for home buyers and sellers and investors for any of your friends or family. Jennifer Upton, our Marketing Director, just reported 490 unique buyers with over 3,000 page views on our website in one day, the last business day of 2016! Our team is excited about the new opportunities that await in 2017! 

      Thank you again and again for your continued support and encouragement.  Many of you have dropped by or received your new, user friendly calendars in the mail.  If somehow you have missed the 2017 calendars, please call our office at 601-545-3900.  

      May you and your family be blessed with good health and a very Happy New Year!

                                                                                                                        DeLois and Team

Displaying blog entries 1-10 of 98

Contact Information

The All-Star Team, REALTORS®
Bringing you home...again and again!
4 Willow Bend, Suite 2A
Hattiesburg MS 39402
601.545.3900
800.335.6477

The All-Star Team, REALTORS brings you over 200 years of accumulated experience along with the most innovative marketing strategies in the real estate industry. We specialize in the real estate properties located in Hattiesburg, Oak Grove, Petal, Sumrall, Purvis, Columbia, and the entire Pine Belt region. Put The All-Star Team, REALTORS® to work for you as you consider your next home sale or purchase. Experience the team approach to real estate and make us your REALTOR® for life! See how The All-Star Team, REALTORS® really is bringing the Pine Belt home again and again.