This is a specific focus of a weekly MBJ edition.
As many as 100 Mississippi real estate pros giving up licenses each month The sustained slump in Mississippi’s real estate market is leading 100 licensed real estate professionals a month to quit the business, state licensing records show. Just making it by the day is the key, one broker said. “We only eat what we kill. [...] [...]
Planned communities are a growing trend all over Mississippi as they are elsewhere in the country. From Iuka to Pass Christian, residential developments offer a range of amenities and lifestyles, green spaces, various sized homes and mixed use. “The planning commissions of most of the jurisdictions in Northwest Mississippi prefer planned communities. DeSoto County approved [...] [...]
Mississippi’s 14.1 percent delinquent rate applies to loans by 30 days or more Mississippi mortgage bankers are awaiting third quarter tallies from the Mortgage Bankers Association to learn whether the state will continue to have the unfortunate distinction of having the nation’s highest rate of tardy home-loan payments. The 14.1 percent rate for the second quarter [...] [...]
The 25 acres that once made up the Rapids on the Reservoir water park have been designated for a new life as a commercial development, but the location is hardly a sure bet as a viable shopping destination, real estate professionals say. Too much commercial space is already going begging in the communities near the [...] [...]
CB Richard Ellis reports Memphis office market still seeing limited demand; large transactions help absorption on industrial space side. The third quarter brought Memphis its first up-tick in asking rental rates since 2008, going from $9.52 to $9.64, a survey by the Memphis office of national commercial real estate firm CB Richard Ellis showed. CB [...] [...]
Greenville attorney Bill Walker draws from real-life experience with fraudulent real estate scheme On a cold February night, with hunting season over and the weather too cold for fishing, Greenville attorney Bill Walker decided to write a book on a subject he knew all too well: mortgage fraud. Around 2001, Walker began taking on the [...] [...]
BancorpSouth’s Memphis borrowers stayed solvent longer, delaying in loan repairs Regional bank BancorpSouth attributes much of the earnings pain it is enduring today to high-quality big-money borrowers in metro Memphis who ran out of money later in the real estate bust than did others. “Because of borrowers we were dealing with, we dealt with issues in [...] [...]
Trustmark’s Richard Hickson isn’t quite sure what to make of Memphis. The chairman & CEO has wrestled more with real estate loan problems in Florida. But Tennessee, especially Memphis, occupied a lot of his attention in the last quarter. The past quarter impaired loans in Memphis and the rest of Tennessee forced the Jackson-based Trustmark [...] [...]
by Ted Carter Published: August 29,2010
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Overall, area is down, but Downtown Jackson and Lakeland area lead the way with positive commercial absorption numbers Jackson’s downtown office leasing rebounded from a 14,000 square-feet negative space absorption in the first quarter to end the second quarter with positive absorption of 5,000 square feet, data gathered by Parkway Properties show. The Central Business [...] [...]
by Amy McCullough Published: August 29,2010
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Poor home sales taking a beating as blame is placed on new regulations Should environmentalists be concerned about banks’ carbon footprints? “Trees are dying,” said a loan originator at a small Jackson bank while pointing to a stack of home loan applications, each three inches thick. They used to be one-fourth of an inch, she [...] [...]
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