Real Estate Information Archive

Blog

Displaying blog entries 1-4 of 4

Ringing in a New Year!

by DeLois Smith

Dear Friends,

     New Year’s Greetings! 2019 will lead us to begin a new era- ending the 2000 teen years right into the 2020s, a new decade of Change! Change! Change! AND new opportunities!

     According to a very recent Kiplinger Letter, we will soon see new jobs that barely exist now. Small commercial drones will soar to 500,000 by 2022. Drones will inspect buildings and pipelines, monitor farms for disease and crops, help police spot crime and help firefighters conduct search and rescue missions. Of course, we have been using drone photography for 2-3 years to better market certain properties.

     The satellite industry is expanding by leaps and bounds. New satellites will beam fast internet to hard to reach regions. Driverless cars will make progress in the next five years. By early 2020s, you will be able to buy a car that can drive itself for long intervals. Resulting jobs will be drone pilots and drone fleet managers, driverless vehicle repair, traffic monitors, and home-delivered groceries.

     Noting that Greater Hattiesburg is #1 in net job growth among metros in Mississippi, and Hattiesburg ranking in the Top 10 places to live on a six-figure salary (as per our local Area Development Partnership), we will be seeing more and more evidence of these new industries expanding into our area in the coming months.

     Our team average sale for 2018 was $258,000, about $100,000 above our local MLS average. We are grateful to have served clients at the very top of our residential market at $1.3 million for 2018 as well as all other price ranges.

      A big change is the new trend toward smaller homes. The soaring number of millennials who have been delayed by heavy education debt and the growing number of seniors who are served best by the 1600-1800 square foot size range has caused a severe shortage of available properties. By 2030, one in every five Americans will be over the age of 65. These special needs include:

  • Single floor living                                                                    
  • Extra-wide doorways and hallways                                   
  • Lever-style handles                                                                 
  • No step entryways                                                                  
  • Two main entrances- front & side
  • Low landscape
  • Accessible outlets and lights
  • Low cost energy

     A first-of-its-kind home adhering to the standards of “ageless design” was unveiled recently in Memphis, TN. The home is part of a ground-breaking effort by AARP Home Matters and Wells Fargo Housing Foundation, which challenged architects nationwide to create new standards in housing design that allows adults to stay in their homes throughout their lives.

     Hats off to the talented and skilled leaders of our area who have made Midtown happen. This past year has been encouraging, as we have watched this pivotal project unfold into the upscale creative venues serving USM students, faculty, guests, and our community at large.

     In early 2019, the attractively designed Regions Complex at Lamar and Lincoln Extension will be completed and 420 Regions employees and management will move from the downtown location to the new site. New creative design for a downtown condo development will begin where Regions is vacating.

     As the new year begins my 46th year as a Hattiesburg Realtor, I want to share with you how very much I love my role as a listing agent with The All-Star Team, Realtors. First, I love the support and working relationship with my positive, trained, talented, and focused teammates. Secondly, I love the rich life experiences of serving memorable, kind, and gracious clients. Several times this past month I was brought to tears by some of those very special clients. One such family came from out of state a day before their closing to insure that every detail was taken care of in regard to leaving the home in perfect condition for the new buyers. They brought their four young daughters and a tiny puppy dog to closing. Even though the sale represented a financial loss to them, they expressed sincere love and gratitude toward everyone involved.

     Another touching experience came with an estate sale in Glendale where a 90 year-old grandmother had lived until she passed recently. The neighbors had delighted in supporting the family and helping to care for the grandmother in order that she could remain in her home. Her daughter and granddaughter who had grown up there lived out of state. One special neighbor had done the maintenance of the home and lawn as well as helping the 90 year-old lady personally. As I drove away from this neatly kept “home sweet home” to the closing, I was grateful that we still have such wonderful neighborhoods where both black and white families live together safely, peacefully, and lovingly.

     Thank you again and again for your continual 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 2019 calendars, please call our office at 601-545-3900 to request yours.

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

With much gratitude,

DeLois & Team

No bubble here....

by keepingcurrentmatters.com

Real estate is shifting to a more normal market; the days of national home appreciation topping 6% annually are over and inventories are increasing which is causing bidding wars to almost disappear. Some see these as signs that the market will soon come tumbling down as it did in 2008.

As it becomes easier for buyers to obtain mortgages, many are suggesting that this is definite proof that banks are repeating the same mistakes they made a decade ago. Today, we want to assure everyone that we are not heading to another housing “bubble & bust.”

Each month, the Mortgage Bankers’ Association (MBA) releases a measurement which indicates the availability of mortgage credit known as the Mortgage Credit Availability Index (MCAI). According to the MBA:

“The MCAI provides the only standardized quantitative index that is solely focused on mortgage credit. The MCAI is calculated using several factors related to borrower eligibility (credit score, loan type, loan-to-value ratio, etc.).” *

The higher the measurement, the easier it is to get a mortgage. During the buildup to the last housing bubble, the measurement sat at around 400. In 2005 and 2006, the measurement more than doubled to over 800 and was still at almost 600 in 2007. When the market crashed in 2008, the index fell to just over 100.

Over the last decade, as credit began to ease, the index increased to where it is today at 186.7 – still less than half of what it was prior to the buildup of last decade and less than one-quarter of where it was during the bubble.

Here is a graph depicting this information (remember, the higher the index, the easier it was to get a mortgage):

Bottom Line

Though mortgage standards have loosened somewhat during the last few years, we are nowhere near the standards that helped create the housing crisis ten years ago.

     Wow, what an exciting year it has been!  2018 was brimming with anticipation as our own Adam Watkins served as President-Elect for the MS REALTORS.  Amidst visits to local boards of REALTORS around our state and a full slate of committee meetings with the state leadership, Adam received the 2018 REALTOR of the Year award from the Hattiesburg Area Association of REALTORS in August, which was followed up by the 2018 REALTOR of the Year award from the MS REALTORS in October.  Beyond these two meaningful accolades, Adam was chosen by the 2018 MS REALTORS President, Karen Glass, as recipient of her President's Award for the year.  The President's Award is given annually to recognize outstanding contribution by a member of the association for that year, and Adam has been blessed to receive it twice - first in 2008, and now in 2018. 

     On October 10th, Adam was officially installed as 2019 President of the MS REALTORS at our annual convention, which was held this year at The Grand Hotel in Point Clear, AL.  We celebrated the coming year of service, and then Adam got down to business, planning board visits, executive committee meetings, and leadership retreat, among other action items for 2019.  The theme of Adam's presidency is "Take the L.E.A.D.," which represents four key areas of emphasis for our membership - Leadership, Education, Advocacy, and Dedication.  More can be found about these points of distinction at www.facebook.com/MARPresidentAdamWatkins or msrealtors.org.

     2019 promises to be a fun and full year of service, and we look forward to serving you, your friends, and your relatives with any real estate needs you may have!  Remember the REALTOR who remembers you, and give us a call, shoot us a text, or send us an e-mail.  We are never too busy for your family's needs, whether you are looking to expand your space or downsize; move across the country or across the county; add to your real estate portfolio or tweak your investments.  We appreciate and value the opportunity to bring you home...again and again. 

From 1964 and it's Still True <3

by

Displaying blog entries 1-4 of 4

Syndication

Categories

Archives

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.