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Tag Archives: real estate

Post-election uncertainty, market activity result in mortgage spike for potential homebuyers

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By LYNN LOFTON  The election has turned the mortgage industry upside down with very quick movement to higher interest rates – an increase of at least .5 percent in just a week’s period of time, said Joe W. McNeese III, president of the mortgage division, Community Bank, Brandon. McNeese said mortgage rates tend to follow what the bond market is ...

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New law uncovers secrets: 10 to 15 percent of real estate applicants have criminal convictions

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By BECKY GILLETTE  Starting July 1, regulations went into effect that were passed by the Mississippi Legislature to provide more protections for consumers by requiring real estate agents in Mississippi to have fingerprinting and a background check before being licensed. Mississippi Real Estate Commission Administrator Robert Praytor said background checks are showing about ten to 15 percent of applicants have some ...

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COMMERCIAL FINANCE 701: Zoning – trust, but verify, authenticate & insure

Zoning plays a critical role throughout the life of a commercial development.  In terms of reviewing zoning status, the Reagan-adopted “trust, but verify” adage should come to mind.  Zoning, however, can be quite complex and the more appropriate proverb might be “trust, but verify, authenticate and insure.” As the term is generally used, “zoning” refers to the approved usage of ...

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HUD deal will force Ridgeland to reverse course on affordable housing

The Van Mark Apartments in Ridgeland.

By TED CARTER Ridgeland’s strategy to significantly cut the number of multi-family rental units has backfired to now require city officials to promote more of the housing they sought to eliminate. An agreement that lets Ridgeland avoid Fair Housing Act violation penalties from the U.S. Department of Housing and Urban Development gives the City 180 days to give HUD an ...

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Lawyers for or apartment complexes, residents not ready to back off suits

The Van Mark Apartments in Ridgeland.

» Lingering questions after HUD’s Ridgeland settlement could keep litigation alive By TED CARTER Ridgeland’s Fair Housing Act settlement with the U.S. Department of Housing and Urban Development does not end private litigation that arose in the past 18 months over the City’s effort to displace thousands of residents from multi-family rental complexes. A lawyer for several Ridgeland rental complexes says ...

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Continuing education another key for Mississippi real estate agents

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By LYNN LOFTON  State realtors find it’s important to continue learning to remain viable in a changing industry and world. Much of that education is obtained through the Mississippi Association of Realtors. Lisa W. Hollister, president of MAR, explains why real estate professionals invest in continuing education. “The relationship that a realtor shares with his/her client is based on trust ...

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Housing market in Central Mississippi having solid 2016

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A six-month streak of sales gains through June capped off a solid first half of 2016 for the 10-county Central Mississippi housing market, according to a news release from Central Mississippi MLS. The average gain for the first six months was 11.83 percent, kick-started by a 15.6 percent increase in January. Closed sales in Rankin County appear to be the ...

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Jackson’s Colonial Highlands moves into business phase

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By JACK WEATHERLY  The at-times stormy effort to redevelop the former Colonial Country Club in Jackson has settled into the business phase. Bo Lockard, manager of Colonial Jackson LLC, which owns the property and is overseeing the development, said Tuesday that the Neel-Schaffer engineering firm has been hired and that conversations with potential developers are underway. “We are working toward ...

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Jackson to get $1.2M to remediate lead-based paint

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The City of Jackson is getting $1.2 million in funding to help remediate lead-based paint in 86 eligible low-income housing units in the county. The U.S. Department of Housing and Urban Development on Wednesday announced the award through its Lead Based Paint Hazard Control grant program. The city’s also getting $150,000 in Healthy Homes supplemental funding. The City of Jackson ...

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