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Tag Archives: homeowners

FNC index: Home prices continue to fall

OXFORD — FNC’s latest Residential Price Index (RPI) indicates that U.S. home prices continued to decline despite recent signs of job recovery and rising home sales and new residential construction. The continued price retreat is no surprise as the housing market remains constrained by high volumes of delinquent mortgages and foreclosures. November marks the fourth consecutive month-to-month declines in residential ...

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Home sales, prices up on Coast compared to 2010

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 was $2,000 below the average ...

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Report: Mississippi has lowest average home loan

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 $340,124. The states with the ...

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Supervisors close on more flood-prone homes

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 says once the seven homes ...

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Judge approves Chinese drywall settlement

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 the proposed class-action settlement is ...

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Contractor admits guilt to aiding, abetting embezzlement

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 director Ann Jefferson were indicted ...

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City may have to reimburse $300K to HUD

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. The Clarion-Ledger obtained a HUD ...

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FNC: U.S. home prices continue to weaken

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 of continued price declines and ...

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City officials lobbying for change in flood codes

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 from meeting flood code conflicts ...

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Court overturns judgment in wind-versus-water case lawsuit

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 the loss of their home ...

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