MISSISSIPPI GULF COAST — Mississippi Gulf Coast home sales finished 2011 on an upswing, with average sales prices up $8,000 in December and more homes sold than at the end of 2010. The Mississippi Gulf Multiple Listing Service report showed the average sales price of a home in South Mississippi was $124,694 in December. That [...] [...]
ACROSS MISSISSIPPI — LendingTree.com has released data highlighting the average loan amount on residential real estate purchases for all 50 states and Washington D.C. for the year. Hawaii, by far, leads the nation with an average home loan amount of $677,299, followed by Washington, D.C., at $393,453, New Jersey at $344,240 and New York at [...] [...]
by Associated Press Published: January 11,2012
Tags: county government, disaster, disaster preparedness, disaster recovery, flooding, floods, homeowners, homes, houses, real estate, residences
JACKSON COUNTY — Jackson County supervisors have approved a payment of $500,949 to Island Winds Title Co. to close on seven homes. The Mississippi Press reports the action brings the county closer finishing its role in a federal buyout program meant to help give relief to residents in repeatedly flooded homes. Planning director Michele Coats [...] [...]
by Associated Press Published: January 11,2012
Tags: construction, contractors, courts, drywall, homebuilders, homebuilding, homeowners, homes, houses, lawsuit, residences
NEW ORLEANS — A Chinese drywall manufacturer would pay hundreds of millions of dollars to resolve court claims by thousands of Gulf Coast property owners who say the product wrecked their homes, under a deal that won preliminary approval yesterday from a federal judge. In his order, U.S. District Judge Eldon Fallon said he believes [...] [...]
by Associated Press Published: January 10,2012
Tags: builders, construction, contractors, courts, embezzlement, homebuilders, homeowners, homes, houses, housing authority, kickbacks, law, plea, residences, residents
OXFORD — A building contractor pleaded guilty yesterday to participating in a kickback scheme involving the South Delta Regional Housing Authority, which promotes affordable housing for the poor in the impoverished Mississippi Delta. Court records show Jimmy Johnson pleaded guilty in U.S. District Court in Oxford to aiding and abetting embezzlement. Johnson and housing agency [...] [...]
by Associated Press Published: January 9,2012
Tags: federal government, grants, homeowners, homes, houses, housing, municipal government, real estate, reimbursement, residences, residential real estate, residents
JACKSON — Mississippi’s capital city may have to reimburse more than $300,000 to the U.S. Department of Housing and Urban Development over lax oversight that led to the misuse of more than $1 million in federal grants over several years. The reimbursement may be necessary for Jackson to get $1.15 million in housing funding restored. [...] [...]
OXFORD — FNC Inc.’s latest Residential Price Index (RPI) indicates that October U.S. home prices continued to weaken at a modest pace despite recent positive home-sales data. The trend is a reminder that the housing market remains constrained by weak economic fundamentals and the overhang of distressed properties, FNC reports. October marks the third month [...] [...]
by Associated Press Published: December 27,2011
Tags: businesses, disaster, disaster preparedness, federal government, flood insurance, flooding, floodplain, floodplain codes, floods, homeowners, homes, municipal government, natural disaster, rains, severe weather, state law, Weather
PASCAGOULA — Pascagoula officials are asking lawmakers to amend a state law and allow local governments to enforce federal floodplain codes at hunting and fishing camps so they can qualify for the National Flood Insurance Program. City attorney Eddie Williams tells the Mississippi Press the change is required because the state’s exemption on such properties [...] [...]
by Associated Press Published: December 27,2011
Tags: courts, flood insurance, homeowners, homeowners insurance, homes, hurricanes, insurance, severe weather, tropical weather, Weather
PASCAGOULA — The Mississippi Supreme Court has overturned a judgment for an insurance company in a wind vs. water case involving a Pascagoula home hit by 6.3 feet of storm surge during Hurricane Katrina in 2005. The National Flood Insurance Program paid Michael Robichaux and his wife, Mary, who has since died, policy limits for [...] [...]
JACKSON — The Home Builders Association of Mississippi (HBAM) has created a Fraud Hotline targeted at unlicensed builders. HBAM has established a toll-free number, 1-800-898-4226, and complaints can also be logged online at www.hbam.com. Complaints will be filed directly with the Mississippi Board of Contractors by HBAM, and the person making the complaint can remain [...] [...]
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