For the month of August, Rain Residential found the brightest, most colorful exteriors in the vibrant city of Ocean Springs.
As part of a coastal community, it would only make sense for homes in the area to reflect the vibrant and artistic energy that flows through the quaint city of Ocean Springs. While not everyone decides to go for that bold shade of periwinkle, we can all appreciate those who do.
During our search for those pops of color throughout Ocean Springs, we have found everything from peach to turquoise to a sunset mural. We have enjoyed connecting with the community and discovering the reasoning behind some of the homeowner’s choices.
Blocks from downtown and the water, a bright blue house is nestled along a quaint side street. Impossible to miss its brilliant cerulean blue, it stands out from the houses around it. We had the pleasure of meeting the owner- a delightful woman that was born and raised in Ocean Springs and has recently moved back to her hometown. The home, built in the late 1800’s, was the original residence of the von Rosambeau family. Constructed as a Greek revival cottage, the Clesi-Brooks House (as it was previously known) survives today with many modifications and updates- including the color. Mrs. Arrington is drawn to vivid colors, and she wanted her home to be a reflection of herself. She chose blue in order to capture the feeling of the beach on a sunny day. Being two blocks from the water, it is very reminiscent of a seaside cottage. The interior of her home, filled with natural sunlight, contains warmer tones due to the exposed brick walls and wooden ceilings. She told us she has gotten lots of compliments from friends and neighbors, so we might be seeing other houses don brighter shades of color in the future!
Color can be a powerful thing. Certain shades and hues can affect how we are feeling or how we perceive and even buy certain things. Marketing and branding experts try to pick colors to appeal to their target audience in order to sell more of their products. Schools are starting to implement brighter colors in an effort to make students more energetic and lively throughout the day. Reds can signify passion, energy, and boldness, but can also communicate danger; greens bring forth senses of stability and growth; blues give a sense of calm and openness; yellow is an optimistic and happy color - the list can go on and on.
Whether the reasoning is based on the psychology of color or picked for more sentimental and aesthetic reasons, we have thoroughly appreciated these eye-catching homes!
Stay tuned for our upcoming September showcase! We will even give you a hint: it serves as both an entrance, and an exit, a threshold for welcome or a way to close off the rest of the world. What do you think it will be?
If you have any other ideas for showcases in the community, comment below!
We’ve historically had a market that reacted well to spring, and trended upwards beginning in March of every year. That has continued to be the case in 2019, and the fact that the market has been so high performing over the past few years is cause for excitement. The market continues to perform well, and both buyers and sellers can feel comfortable with what we are currently experiencing. Even though a slowing of home prices is predicted, with an increase in interest rates predicted, buyers can still save money by purchasing now rather than waiting. And based on what we are seeing in the market, they are! The absorption rate of single family properties continues to decline, new listing volume is again starting to increase, and sold volume is trending upward as well. The small decline monthly in absorption has lead us from 5.42 months in March of 2018 to 4.94 this year, meaning the market is ready to handle new listings. So what’s keeping you from making a move!
39564 Jackson County USA
Median Estimated Home Value $166K $157K $242K
Estimated Home Value 12-Month Change +4.2% +4.5% +5.9%
Median List Price $205K $160K $105K
List Price 1-Month Change -4% - +5%
List Price 12-Month Change +5.4% +6.7% +8.1%
Median Home Age 31 37 40
Own 72% 70% 64%
Rent 28% 30% 36%
A few bullet points that emphasize where we are and where we are going: https://www.daveramsey.com/blog/real-estate-trends
Mortgage interest rates are on the rise after years of being at a standstill. Interest rates are projected to increase to an average of 5% for a 30-year mortgage and 4.4% for a 15-year mortgage.
With most housing markets at low risk for a downturn, the 2018 Housing and Mortgage Market Review estimates home prices will continue to rise for the next couple of years, with annual increases of 2–6%.(7) Who-hoo for sellers! If you sell your house before 2020, you’ll likely still make a great profit.
With such fast-rising mortgage interest rates, some folks are wondering if the housing market could collapse again. Well, it’s impossible to know for sure, but a number of factors indicate a housing crash is not in the foreseeable future and the economy is still strong. Here are some indicators:
People are spending money.
There’s a low unemployment rate and new career opportunities.
All-cash real estate buyers (our kind of people!) are becoming more common.
Fewer buyers are using interest-only home loans (aka the worst loans possible) that allow you to pay just the interest each month and not the principal.
Millennials want to buy.
Taxes are lower.
If you are considering selling, or are on the fence about selling, here's why you should put your home on the market this spring.
In looking through MLS at year to date 2019 market trends in the Ocean Springs, MS market, I see that overall active listings are down by 4%, but new listings are up 6%. Pending listings are down 12% and sold listings are down 33%. Median cumulative days on the market are down 56%. This made me wonder what was going on across the country. Here is a great article I found on USNews.com that I want to share with you.
And, of course, if you or someone you know is looking to buy or sell, give us a call!
Article by Devon Thorsby, Editor, Real Estate |March 7, 2019
Few people are predicting that 2019 will be a record-breaking year for home prices.
But relatively speaking, 2019 might be the best time for you to put your house on the market. Especially if you’re on the fence about selling this year or next, Nick Ron, CEO of House Buyers of America, recommends going with the devil you know rather than the devil you don’t.
“I think it’ll be better than 2020 and 2021 – who knows what’s going to happen in those years,” Ron says.
Home price growth slowed in the second half of 2018, with fewer buyers entering the market, at least partially due to rising interest rates issued by the Federal Reserve. In 2019, consumers shouldn’t expect homebuyers to flood the market again and drive prices through the roof, but it’s also unlikely to be a crisis for home sellers.
If you bought your house in the last year or two, still love it and don’t want to part with it, go ahead and wait another five years before revisiting the thought of selling. But if you’re weighing your options to sell, considering selling this year or maybe the year after, don’t play the waiting game.
Here are four reasons to sell your house in 2019:
New buyers are still entering the market.
Interest rates are still on the lower end.
You have high equity.
Selling now will be better than waiting till 2020.
New Buyers Are Still Entering the Market
As interest rates rise, some buyers will hesitate to make an offer on a home or apply for a mortgage, so be ready to see occasional drops in buyer activity. And if your house is at the higher end of the price range in your market, you should expect less buyer interest than before. Ron notes the combination of rising mortgage rates and home prices exceeding buyers' budgets are what has caused the slowing of homebuyer activity in recent months.
But with available housing inventory remaining low, even with rising interest rates, buyers who are ready to make a purchase will still shop for homes. The biggest wave of new homebuyers will be among millennials, who are mostly first-time buyers. In a Harris Poll survey of 2,000 U.S. adults commissioned by real estate information company Trulia, more than one-fifth of Americans between ages 18 and 34 said they plan to buy a home within the next 12 months. Already, millennials make up the largest share of homebuyers at 36 percent, according to the National Association of Realtors, which released the number in March 2018.
The bottom line: While houses may sit on the market for a few more days on average compared with 2017 when the market was white-hot, buyers remain active and it’s still possible to profit from your home sale.
Interest Rates Are Still Low-ish
Mortgage interest rates have been on a bit of a bumpy road over the last few months. Interest rates for a 30-year, fixed-rate mortgage reached their highest level in over seven years in November 2018, when they hit 4.94 percent, according to Freddie Mac. As of the end of February 2019, however, interest rates are down slightly to 4.35 percent, according to the mortgage loan company. While it’s reasonable to expect mortgage rates to continue to climb gradually throughout the next year, they’ll remain much lower than the historic high of more than 18 percent in 1981.
It’s important to keep in mind that while mortgage rates tend to mirror the Fed’s interest rate activity, mortgage rates are based on the market in that moment, your financial status and the property you’re looking to purchase.
Just because the Fed raises rates at one meeting doesn’t mean mortgage rates will follow that exact pattern. “Not every Fed increase is passing on (to) a mortgage rate,” says John Pataky, executive vice president and chief consumer and commercial banking executive at TIAA Bank.
A sudden leap in mortgage interest rates is unlikely in 2019, though Pataky notes that you should be ready to see rates continue to climb. “We do expect over the next 12 months that mortgage rates will continue to drift higher,” he says.
If you’re looking to get the lowest interest rate possible on your next house, try to make a deal sooner rather than later.
You Have High Equity
Homeowners who bought during the recession or shortly after benefitted from historically low interest rates and, up until around 2015, lower home prices that were still in recovery mode. If you fall into that category, your home equity has risen with nearly every mortgage payment, each renovation you made to the house and all the other houses on the block that sold for a higher price.
The higher your equity in your home, the more you net from the sale, which can easily go toward the down payment on your next house. The larger your down payment, the better you look to lenders and the lower your interest rate will be, and the less likely you'll need to increase monthly payments with private mortgage insurance.
Selling in 2019 vs. 2020
If not selling your home in 2019 means putting your house on the market in 2020, the sooner option is the best one. In a survey of 100 U.S. real estate experts and economistsby real estate information company Zillow, released in May, almost half expect the next recession to occur in 2020. Another 14 percent believe the recession will hold out until 2021, while 24 percent of panelists expect the recession earlier – sometime in 2019.
Whether you believe the recession is imminent or a long way off, current real estate patterns indicate a sudden upswing in activity or prices is unlikely in the near future. Real estate markets tend to operate on a cycle of their own, the length of which varies by market but can be between 10 and 16 years total and flow from a seller’s market to a buyer’s market with a period of balance in between.
“It doesn’t look like there’s anything on the horizon that’s going to cause a big spike in home prices or increase demand dramatically,” Ron says.
Check out all the new growth coming to the Coast! It's amazing to see the impact on our growing housing marked based on the economic growth going on in our communities! This type of growth is why Ocean Springs did so well this past year and will continue to improve. Give us a call if we can assist you with your home sales or purchase. April Cook at Rain Residential.
Ingalls expansion, new Rouses, aquarium tram bridge part of $89M in Coast development
$68 million for 3 new fabrication shops at Ingalls Shipbuilding in Pascagoula
$13 million for site and infrastructure support buildings
$4 million for renovation of Rouses Supermarket at 1444 E. Pass Road, Gulfport
$935,000 for Piercon project at 19000 28th St., Long Beach
$670,000 for new commercial at 100 Railroad St. East, Long Beach
$375,000 for renovation for Security Financial Services, 2596 Bienville Blvd., Ocean Springs
$350,000 for mini self storage at former Walmart building, 238 Pass Road, Biloxi
$300,000 for renovation of Four Mile Creek Baptist Church, 3801 Coventry Drive, Moss Point
$250,000 for maintenance building at 10397 Express Drive, Gulfport
$200,000 for renovation at Seashore Plaza, 2957 Bienville Blvd., Ocean Springs
$197,000 for new commercial for CJT at 4006 Bienville Blvd., Ocean Springs
$150,000 for interior and exterior renovation at 796 Vieux Marche, Biloxi
$119,000 for building and restroom at McLeod Waterpark, 8100 Texas Flat Road, Kiln
$68,000 for renovation at 189 Main St., Biloxi
$59,000 for renovation and addition for John Rey at 14489 Dedeaux Road, Gulfport
$50,000 for Subway restaurant at 12258 Shriners Blvd., Biloxi
$48,000 for renovation for Project Cheeseburger’s Shaggy’s Gulfport Beach, 1724 E. Beach Blvd., Gulfport
$35,000 to enlarge parking lot at Wheeler Family Dentistry, 14120 Dedeaux Road, Gulfport
$28,000 for renovation for Mamie St. Properties at 8950 Lorraine Road, Gulfport
$28,000 for renovation for Edgerly Enterprises, 1909 E. Pass Road, Gulfport
$28,000 for warehouse addition for 4228 Main St. Properties at 13061 Road D, Bay St. Louis
$26,000 for renovation of hair salon for Mamie St. Properties at 8950 Lorraine Road, Gulfport
High Proof Fine Wine and Spirits, 1888 Beach Blvd., Biloxi
Just 1 More Bar and Grill, 1512 U.S. 90, Gautier
Vibe 1, 2909 26th Ave. Gulfport
Lucy’s Retired Surfers Bar and Restaurant, 1775 Beach Blvd., Biloxi
Ton 80 Bar & Grill, 1512 U.S. 90, Gautier
March 8 — NextHome HomeFront, 6616 N. Washington Ave., Ocean Springs
March 12 — Domino’s RPM Pizza Store, 1681 Pass Road, Biloxi
March 13 — Floor Trader of Ocean Springs (new location), 6217 N. Washington Ave., Ocean Springs
March 19 — Coastal Roots Salon and Cologne & Cotton Boutique, 782 Water St., Biloxi
March 19 — Jackson County Industrial Trade Show, Jackson County Civic Center, 2902 Shortcut Road, Pascagoula
March 19 — Le’s Place Asian cuisine restaurant, 1614 Bienville Blvd., Ocean Springs
March 20 — Gulfeagle Supply, 3737 25th Ave., Gulfport
March 21 — Renaissance Community Loan Fund, 8917 Lorraine Road, Gulfport
March 21 — New location of Jackson County Literacy Council, 2804 Martin St., Pascagoula
March 22 — Starvision Technology, 13420 U.S. 49, Gulfport
March 28 — Walmart online grocery pickup, 2681 CT Switzer Drive, Biloxi
March 28 — Cajun Planters, 2730 Pass Road., Biloxi
March 28 — Encore Rehab, 3179 Mallett Road, D’Iberville
March 28 — Floor Trader of Ocean Springs new location, 6217 N. Washington Ave., Ocean Springs
March 28 — Connect Fellowship Church, 15521 Oaklane, Gulfport
March 29 — Rivers Psychotherapy, 411 Security Square, Gulfport
ReDo Vendor Mall, 2394 Pass Road, Biloxi
About Time Antiques and Finds, 615 Pass Road, Gulfport
Now that Mardi Gras is behind us and St. Patrick's Day a mere blur, we can now take a breath and look forward to Spring. More specifically, we can look forward to (hopefully) sunnier weather, flowers in bloom, returning to the beach, and FESTIVALS!!!
Your first opportunity to relax outdoors and take in some of the most talented artists in the region is this weekend at the Spring Arts Festival: Herb, Garden & Art in Downtown Ocean Springs. Now in its 26th year the Annual Spring Arts Festival showcases artists and growers featuring pieces in various media including paintings, pottery, jewelry, plants, and herbs. Festival activities include artist demonstrations, live entertainment, engaging seminars and more. This year’s event will be held on Saturday, March 23 from 9 a.m. to 5 p.m. and Sunday, March 24 from 9 a.m. to 4 p.m. Take the whole family as the festival is FREE!
Below is a list of just a few more of the many upcoming events on the Mississippi Gulf Coast - enjoy!
March 23-24 - Features live demonstrations, hands-on activities, artist showcases/marketplace in downtown Bay St Louis.
April 6-7 - features fine arts, crafts, live music, food vendors and more in Pass Christian overlooking the sparkling waters of the Mississippi Gulf Coast.
April 13 - music festival celebrating the beauty of the Pascagoula River. Featuring live music, food/art vendors, Pascagoula Run Kayak Race, Paddlepalooza and a fireworks show.
May 9, 6-9:00 pm - The Taste of Ocean Springs Food & Wine Festival is an elegant evening for guests to sip and savor an array of food & beverages served up by a selection of our more than 100 restaurants and nightlife venues of Ocean Springs.Tickets are required to attend the event and must be purchased in advance. Tickets for the event can be purchased at the Ocean Springs Chamber of Commerce, 1000 Washington Avenue, beginning on April 1st
Hope to see you all there!
Courtesy of Jennifer Jones
Courtesy of Jennifer Jones: (504) 339-2093, email@example.com
Since Rain Residential is born and raised in Downtown Ocean Springs, we get a TON of requests that go something like, "The city is SO adorable, we would LOVE to live here - can you let us know when something comes up?" We get it - we live in a gem of a city! A seaside town with beautiful homes, tons of restaurants, shopping, parks, events, great schools and wonderful people. Who would NOT want to live here? I tend to describe my clients as a wonderful mix of retirees and young families. This dynamic creates a sense of safety - an friendly and active community where everyone knows and takes care of one another.
So do you want to live in the heart of it all and walk (or take your golf cart) everywhere you go?? Well, we have something for everybody right now!
Here is a list of everything for sale in/near Downtown Ocean Springs with a few highlights below:
Charming AND Updated
615 Washington Ave: LOCATION, LOCATION, LOCATION and that is only the start of this charming home. What more can you ask for - oozing with character on the outside, it is beautifully updated and neat as a pin on the inside. Just across the street from the popular Little Children's Park, it sits on nearly a half acre with a huge backyard.
Subdivision Living Walking Distance to Downtown
Courtesy of Moran Realty
2 Mulberry Place: Beautiful family home in a quaint subdivision located blocks away from the action - the custom design such as use of reclaimed wood flooring make this spacious home feel cozy and ready for the love of its next owner.
Condo Living on Front Beach
Courtesy of Ellis Branch Realty
527 Front Beach, Unit # 26: We love Gulf Oaks Condominiums at Front Beach and so do our clients! Residents here enjoy tons of amenities including a clubhouse, a pool, tennis courts, a shared pier and a front row seat to Front Beach with a quick walk to the Harbor!
Updated and Affordable
Courtesy of Coastal Realty Group
407 Brumbaugh: This stylishly-renovated, brick home is located on the outskirts of Downtown Ocean Springs, but just a few blocks from quiet and beautiful East Beach where some of the most beautiful Ocean Springs properties are located.
Call, text, or e-mail us today for more information on these or any homes on the Mississippi Gulf Coast - we would love to show you these and tell you more about the different areas of the Mississippi Gulf Coast and what makes each so great!
Courtesy of Allen Standfield 228-383-5661
More great news for Mississippi Gulf Coast real estate. The slight dip in residential sales nationally this past December helped push the recent mortgage rates to a 10 month low. On the Mississippi Gulf Coast, the first few weeks of the new year seemed to follow that downward trend, but January ended on an incredible high with a total volume increase of 15% over January of 2018.
What does this mean? It means 2019 looks to be a great year for buyers (and sellers). While home prices have continued to sharply rise over the past few years, many national predictions see a more steady market in the near future. This isn't necessarily a bad thing as even very recent buyers values should put them in a place to capitalize on their investment.
For sellers this should encourage those who have been thinking about selling to go ahead as opposed to continuing to wait for an increase in value. For buyers, the prospective influx of inventory, combined with the lowered interest rates makes the time to buy now. Looking forward to a very active 2019.
These kinds of wonderful events show the growth and popularity of Ocean Springs and how others are seeing the wonderful things we have to offer here. I saw these majestic animals in a parade when I was a child so anytime they are close to an area I live I'm happy to go see them. If you are able make sure and attend the parade to see these wonderful horses. April Cook at Rain Residential. 435-496-0606.
By Warren Kulo
OCEAN SPRINGS, Mississippi -- Nearly 11 years after their first appearance in the city, the renowned Budweiser Clydesdales are returning to Ocean Springs for a parade and "meet-n-greet" in February.
City officials announced this week the famed horses will be in Ocean Springs on Feb. 10 for a 2 p.m. parade through the downtown area and activities at the Mary C. O'Keefe Cultural Arts Center.
The Clydesdales made their first appearance in Ocean Springs in 2011, participating in a St. Patrick's Day Parade through downtown.
"They contacted us," said City Events Coordinator Chic Cody. "They were already scheduled to appear in Biloxi a few days earlier. We had them here in 2011 and we treated them so nicely, they wanted to come back."
Cody said the horses will be "dressed" near the intersection of Jackson Avenue and Front Beach Drive that day and then will parade from the Ocean Springs Yacht Club to the Mary C., where there will be photo opportunities, along with activities for children.
As the Clydesdale "hitch" makes its way down Government Street, it will stop in front of bars and restaurants along the way to deliver beer, providing additional photo opportunities for the public.
The Budweiser Clydesdales were formed in April 1933, when August A. Busch Jr. and Adolphus Busch III presented their father, August A. Busch Sr., with a six-horse Clydesdale hitch to commemorate the repeal of Prohibition, according to the Anheuser-Busch website.
We all hear about the importance of having a good credit score, and we all pretty much know what we need to do to keep it as high as possible. So, how the heck do they come up with that number???
Here is a great explanation of how it works. And, as always, if you are looking to buy or sell, or you just have questions, we are here to help!
-Kati Viola/Realtor at Rain Residential (228)273-5757 Kati@RainDev.com
Your credit score has a big impact on your personal finances, with a good score translating into a better rate on everything from home mortgages to auto loans to credit cards. So how do credit scores work?
Your credit score can range from 350 to 850. The higher, the better. The five factors that determine that score, and the percent to which they count towards your score, are as follows.
Payment history: 35%
This is your record of making payments on time and in full. Timely mortgage payments are particularly important. A single late mortgage payment in the last 12 months can downgrade your score. Late payments on other debts such as credit cards and car loans are also bad for your credit score, as are judgments, charge-offs and collections accounts.
A single bankruptcy in the past seven years can damage your ability to get a new credit account or a loan. If you’re looking to get a loan, you’ll have to pay off any judgments or liens first, and possibly get a “satisfaction of judgment” from the court. Your credit score will also reflect the amount of time it takes you to make a late payment. The later the payment, the worse it will be for your score. Being in default of a debt is the worst situation.
To avoid damage to your score, pay bills on time, settle any delinquent accounts and check your credit report regularly to make sure you’re not being held responsible for disputed bills.
The balance you owe compared to your available credit limit: 30%
Ideally, you should keep your balance below 30 percent of your credit limit. At the very least, it should be below 50 percent. While it may seem like a good idea to close credit accounts you don’t use often, you’re actually better off leaving them open. Also, don’t concentrate large balances in a few accounts. It’s better to spread the balance across credit lines than to have one or two accounts with a balance constituting more than 50 percent of the limit. If your credit card company is willing to increase your credit line without pulling a new report, you should take advantage of that.
How long your accounts have been open: 15%
The longer your accounts have been open, the better it is for your credit score. Again, avoid closing credit accounts. But if you have to, close the newer instead of the older ones. And opening new accounts can lower your score initially, so keep that in mind if you’re tempted to open one just to get a 0 percent introductory rate or a discount at the store. That being said, opening a few extra accounts that you don’t intend to use may not be a bad idea if you intend to get a mortgage eventually. If you don’t have much of a credit history, those extra accounts can raise your score eventually if you keep them active and their balances low.
Type of credit: 10%
A mix of credit types is best, including mortgage, auto loan and not more than five credit cards. Having nothing but a lot of credit cards will hurt your score.
Number of recent inquiries by creditors: 10%
Checking your own credit report won’t affect your score. But when a potential creditor — such as a mortgage or auto loan lender, credit card company, or department store — performs an inquiry on your credit, that can have an impact on your score for up to a year. But you can reduce that impact by taking certain steps. When they’re done within 45 days of each other, multiple inquiries about mortgage or auto loans are treated as only one. However, if you already have a mortgage in the works, you might want to wait until the loan closes before applying for any new credit.
Please keep in mind that this is only for informational purposes, and that you should consult with appropriate professionals for tax, legal and financial planning advice.
Article courtesy of Jolie Wilding/Annie Mac Home Mortgage