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Real Estate & Construction

Home sales in central Mississippi down 4.5 percent

By JACK WEATHERLY House sales in the 10-county  Central Mississippi Multiple Listing System were down 4.5 percent in June from the previous year, primarily because of tight inventory, according to Central Mississippi Realtors. Consequently, the average sales price increased 2.1 percent, creating a market that slightly favors sellers. “Inventory remains extremely tight, but patience may pay off in coming months ...

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COMMERCIAL FINANCE 701: The Passing of LIBOR

The death knell for LIBOR officially sounded on July 27, 2017, when the UK’s Financial Conduct Authority broadcast it would cease maintenance of the internationally-used interest rate benchmark beyond December 31, 2021.  The surprise announcement was surprising only as to the timing of the press release and the sunset date.  The Wall Street Journal dissed the rate back in 2008 ...

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Former Ridgeland Kroger building to get new occupants

By JACK WEATHERLY The former Kroger store at 2000 E. County Line Road in Ridgeland, vacant for nearly four years, will soon have new occupants. Sky Zone, a trampoline-based franchise, and Crunch Fitness, a gym, will divide the space. Dean & Dean Architects of Jackson is doing the basic design work and construction. Jason Vanhaelen, project manager, said Dean & ...

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Contractor wins Firestone award

E. Cornell Malone Corp. has been named one of the winners of Firestone Building Products’ 2017 Gold Master Contractor award. The Jackson firm is in the top 2 percent of Firestone Building Products Red Shield Licensed Roofing Contractors. This is the 30th year for the program that honors Firestone Building Products licensed roofing firms in the U.S., Canada and Mexico ...

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IRR merger expands market expertise across Mid-South

Integra Realty Resources of Jackson and Gulfport, and Integra Realty Resources of Memphis have recently merged and made staffing changes. IRR offices in Jackson, Gulfport and Memphis are commercial real estate consultation services. The team now includes seven MAI-designated appraisal professionals, a mark of excellence in the field, and eight additional appraisal analysts on staff, along with experienced administrative support ...

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Dylan Whitt joins Crye-Leike in Tupelo

Dylan Whitt of Tupelo has become affiliated with Crye-­Leike’s Tupelo branch office. Whitt works with buyers and sellers in Lee, Itawamba and Prentiss counties. He specializes in residential real estate. Prior to joining Crye-Leike, Whitt served in the armed forces. He recently served in the Mississippi Army National Guard, including a deployment to Iraq in 2009 with the 155th Combat ...

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New center lands Hobby Lobby, Academy Sports

Work has begun on a $21 million shopping center called Crawford Farms in Madison. Hobby Lobby and Academy Sports will be in the first phase of the 38-acre development at the intersection of Highway 463 and Welch Farms Road, east of Interstate 55. Those two stores will make up 120,000 square feet. “Preleasing for the second phase is underway and ...

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Pickering Firm, Inc. has added Metro to its Biloxi office.

Jared Metro recently joined the Pickering Firm as a Construction Inspector in the Biloxi office. Metro has an Associate in Construction Engineering degree from Mississippi Gulf Coast Community College and 10 years of experience. Pickering is headquartered in Memphis with offices in Hernando, Flowood, Jackson, Pearl, and Biloxi, and Jonesboro, Arkansas.

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Mississippi Realtors invest in First-Time Homebuyers Savings Account program

By ALEX JACKS For the first-time homebuyer, the real estate market can be a bit overwhelming. There are numerous financial considerations new buyers must contemplate, which in the past have prevented many from buying a first home. In an effort to encourage Mississippians to take the plunge, Gov. Phil Bryant signed the First-time Homebuyer Savings Accounts, a new tax-advantaged savings ...

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Fewer homes for sale favor sellers

By BECKY GILLETTE Nationwide, existing home sales dropped 2.3 percent in April, according to the National Association of Realtors (NAR). That was pegged to lower availability rather than lack of demand. NAR said the total number of homes for sale has dropped 9 percent in the past year. “Nationally, low inventory is a hot topic,” said David M. Griffith, 2017 ...

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