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Tag Archives: real estate

Nearly 100 affordable homes planned for Mississippi city

OXFORD — A combination of nearly 100 “lease to own” townhomes, duplexes, and single-family detached homes has been planned to help house a Mississippi city’s area workforce. Oxford Eagle reported on Monday a public-private partnership’s recent $15 million awarding in competitive funding is the result of efforts over the years by Oxford and Lafayette County officials to address the difficulty of creating ...

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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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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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Colonial Highlands manager breaks silence, says plan just taking longer

By JACK WEATHERLY It’s taken longer for the Colonial Highlands traditional neighborhood project to gain traction than anticipated, Bo Lockard said in an interview last week. Lockard, managing partner of Colonial Jackson LLC, sought to clear the air on the project in northeast Jackson expected to cost $250 million. In recent months, Lockard, other partners and local brokers had not ...

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House buyers, sellers getting what they want in central Mississippi

By JACK WEATHERLY Both sides in the residential real estate market in central Mississippi are getting what they want. First, the seller’s side. Pending sales were up 53.9 percent last month, compared with a year earlier, according to the Central Mississippi Realtors Association. And sellers got 95.4 percent of their listed price, with the average stay on the market of ...

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Watching the House and the Senate — For 2017 session, Realtors advocating passage of bill to help first-time buyers save

By BECKY GILLETTE About 200 members of the Mississippi Association of Realtors attended the annual Realtor Day at the Capitol Feb. 2, hearing from their elected officials, and discussing the Mississippi Realtors 2017 legislative priorities. Clarke Wise, governmental affairs director for Mississippi Realtors, said members heard from Gov. Phil Bryant, Lt. Gov. Tate Reeves, Secretary of State Delbert Hosemann, Treasurer ...

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

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

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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