Monday Market Update - It's Festival Season!!!!

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!

Arts Alive

March 23-24 - Features live demonstrations, hands-on activities, artist showcases/marketplace in downtown Bay St Louis.

Art in the Pass 

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.

Free Flowin' on the Riverfront

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.

Taste of Ocean Springs Food & Wine Festival

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

504-339-2093


Monday Market Update - Downtown Ocean Springs for Sale!

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Courtesy of Jennifer Jones: (504) 339-2093, jenniferjones@raindev.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

Courtesy of Rain Residential

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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

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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!

Monday Market Update: Mortgage Rates at 10 month low

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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.  

https://magazine.realtor/daily-news/2019/02/08/mortgage-rates-fall-to-10-month-low
https://www.cnbc.com/2019/02/07/americans-are-starting-to-feel-better-about-buying-homessort-of.html

Monday Market Update - Clydesdale here this coming weekend!

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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.

Monday Market Update - Importance of Credit Scorews

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

Market Update

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Monday Market Update for January 21, 2019: The Most Expensive Homes in Ocean Springs

Provided by Jennifer Jones of Rain Residential:

Below is a list of the 10 Most Expensive Homes sold in Ocean Springs per the Multiple Listing Service (MLS).  Again, this is according to our MLS, so if you know of someone who would like to share their home that we have not mentioned, let us know as we would like to see it 

Working in downtown Ocean Springs it always seems that the closer to downtown you get the higher the prices for homes.  It is probably not a surprise that if you live on the coast, the closer you get to the water the better.  As you will see waterfront reigns supreme when it comes to home prices here:

#10.  At just a little over 2,000 square feet this house is not to be underestimated.  It sits on over 1.7 acres on the corner of Downtown Ocean Springs and faces beautiful Front Beach.  It only had 2 bedrooms and 2 bathrooms, but it's charm, gated pool, guest house, and riparian rights sold it for $915k in 2015.

(Courtesy of Coldwell Banker Alfonso Realty OS - B/O)

(Courtesy of Coldwell Banker Alfonso Realty OS - B/O)

#9. This East Beach home has over 4,000 square feet with a guest house larger than many people's primary residences at nearly 1,700 additional square feet. Glorious views of the beach and the Gulf of Mexico make this home a deal at just $932k.

(Courtesy of Coldwell Banker Alfonso Realty OS - B/O)

(Courtesy of Coldwell Banker Alfonso Realty OS - B/O)

#8. This waterfront home has it all including walkability to downtown Ocean Springs.  Deep water access, a boat slip, pool, pool enclosure, outdoor kitchen, elevator, media room, and a generator and a wet bar.  Some lucky owner scooped all of this up for just $983.5k in 2015. UPDATE per Owner Jan 22, 2019 - SOLD for $1.3 M

(Courtesy of Owen & Owen Co, LLC)

(Courtesy of Owen & Owen Co, LLC)

#7 This Bayou Sauvolle Beauty was sold in 2007 for $990k.  It features high ceilings, a huge gourmet kitchen, deep water access, a boat dock, and bulkhead.  It also has over 4,500 square feet of living space.  

Courtesy of Ellis Branch Realty)

Courtesy of Ellis Branch Realty)

#6 Located on East Beach, this Mid-Century modern, beachfront home sits on 3.65 acres.  The home features 6 bedrooms and 6 bathroom, a gourmet kitchen, and a private pier with a boatslip.    This property was sold in 2015 for a cool $1M.    

(Courtesy of Moran Realty)

(Courtesy of Moran Realty)

#5 This executive home was sold in 2014 for $1.75K.  It is over 6,000 feet and sits on Spanish Point right off of Lover's Lane.  It was built tough on concrete walls and has a stunning multi-level saltwater pool.

(Courtesy of Coldwell Banker Alfonso Realty - OS, B/O)

(Courtesy of Coldwell Banker Alfonso Realty - OS, B/O)

#4 This traditional Southern charmer is located at the tip of the Gulf Islands National Seashore and it is a waterfront dream. It has 8 fireplaces, a 15' wet bar, a gourmet kitchen, deluxe appliances, a pool, and 360' of bulhead with deep water access.  It was sold in 2014 for $1.25K.

(Courtesy of Coldwell Banker Alfonso Realty - BSL)

(Courtesy of Coldwell Banker Alfonso Realty - BSL)

#3 This home in Bayou Sauvolle  has high ceilings, a HUGE kitchen, a pool, a pool room, and a boat house over-looking the beautiful Bayou.  This 6,000+ square foot home sold in 2009 for $1.29M.

(Courtesy of Owen & Co, LLC)

(Courtesy of Owen & Co, LLC)

#2 This Lover's Lane beauty sold in 2017 for $1.3M.  With views of the Back Bay from a tropical oasis of a backyard, it seems like a steal!

(Courtesy of Owen & Co, LLC)

(Courtesy of Owen & Co, LLC)

#1 This custom, French-Country home sold for $1.75M in 2016 and has just about everything a person could ask for including a private beach!  It also has 12 foot cypress doors, a walk-in wine cellar, outdoor living space, an infinity pool that looks out over uninterrupted views of the Gulf of Mexico and the barrier islands.  

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Our conclusion is that waterfront = $$$ but waterfront + downtown = $$$$.  That said, it looks like it is worth it!!!!


Monday Market Update: Government Shutdown impact

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Courtesy of Allen Stanfield at Rain Residential

For today's Monday Market update I wanted to take a look back over the first two weeks of January's market performance to see if we can find the impact of the continuing government shutdown and prediction of increase in interest rates.    

For this, I take a look at the first two weeks of 2017, 18 and 2019 and the sales completed in the Ocean Springs School District.  Historically January isn't one of the higher volume months but it sets the tone for the entire year.  With a constant modification of where interest rates will be in 2019, and the government shutdown continuing I take a look to see if this has negatively impacted the market. Should we expect a lull during this period of continued government ineptitude?  

Well, based on the stats, yes, yes we should.

In 2017, there were a of 11 sales, with a volume of $1,949,900 and average sales price of $177,226.  In first two weeks of 2018 there were a total of 14 sales, with a volume of $2,423,750 for an average sales price of $173,125.  The average was higher in 2017 over this time period mainly due to the highest individual sales price being 30% more than its 2018 counterpart.

In 2019, we currently only have 2 sales listed for this same time period.  The volume is less than a tenth of a year ago at $243,000 and an average sales price of $121,500.  Now these numbers could still increase as any closings late last week or today may not yet have been reported, but regardless, the numbers appear to be well behind those of the last few years.  

In both 2017 and 2018 the first two weeks of January proved to be some of the slowest times of the year,with less than 50% of the average over a two week period for the year, so it's not a telltale sign, but they did correlate with one another. In 2017 the average number of transactions over a two week period was 26.8, and in 2018 it was 28.3.  

So where is the good new in this?  First of all, this is a very small bit of information I'm using to make predictions.  Also, despite the fact there are only two closings, there are currently 70 homes listed as pending/pending contingent in the district.  That substantial amount would represent more than 10% of the entire 2018 transactions, and far more in total volume of sales with nearly 40% off those under contract being new construction builds. 

Second, if this trend is widespread in the national market, it could prove to inhibit any increase in interest rates, which could prove hugely beneficial to the market over the course of the year.

My prediction - government reaches a compromise, buyers anxieties are relieved.  Interest rates and inflation are held in check by a slow start to 2019 (albeit artificially inflated due to government shutdown) and savings at the pump.  Which leads us to and through an incredibly strong spring and summer for the market!

Monday Market Update - Homestead Exemption

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Happy New Year!

If you have not already done so, now is a good time to file for homestead exemption.  You only have to file once, but if you have never filed, or you purchased a your home in 2018, be aware of the deadlines to file (see links below).  Homestead exemption only applies to primary residences.

What exactly is Homestead Exemption?

In Mississippi, homeowners can take advantage of what's called a homestead exemption. Basically, a homestead exemption allows a homeowner to protect the value of her principal residence from creditors and property taxes. A homestead exemption also protects a surviving spouse when the other homeowner spouse dies. State homestead exemptions often have four features, including the well-known property-tax exemption on a portion of a home's assessed value.

Property Taxes

A homeowner's understanding when it comes to homesteading her property most often has to do with the property-tax exemption. Generally, this advantage of homesteading pertains to shielding a portion of a home's value from property taxes. Often, a typical homesteading advantage is that it'll exempt the first $25,000 to $75,000 of a home's assessed value from all property taxes. With a $50,000 homesteading exemption, you'll only owe property taxes on the home's remaining assessed value.

Forced Sale Immunity

With a homestead exemption, your home is shielded from a forced sale to satisfy creditors. For example, the lender financing your automobile can't force the sale of your home if you default on your auto loan. Before homestead exemptions, creditors could and often did try to seize a homeowner's property to satisfy all kinds of debts. Homestead exemptions, however, don't normally shield your home from forced sale in mortgage foreclosures or from defaulted property taxes.

Homestead Requirements
In order to declare a homestead on your home, it must be your principal residence. In Mississippi, homestead exemptions apply only to real property. You won't be able to declare your house boat or motor home a homestead under certain state's homesteading laws. Your homestead exemption and its advantages last until you effectively abandon the homestead, too. Commonly, you abandon an old homestead when you declare another home your new homestead.

Links for requirements and deadlines to file for Homestead Exemption:

From Kati Viola

Jackson County
https://www.co.jackson.ms.us/427/Homestead-Exemption-- 

Harrison Countyhttp://co.harrison.ms.us/downloads/Departmental%20Downloads/tax%20assessor/Pre-Application%20Form%20For%20Filing%20Homestead%20Exemption.pdf

Here are the top businesses that opened on the Coast in 2018, plus what’s still to come

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By Mary Perez

Family attractions — something residents have craved since Hurricane Katrina — finally came flooding back to the Coast in 2018.

A bountiful selection of new restaurants and coffee shops opened. New hotels are under construction and Biloxi got its first new movie theater in years.

Here are the big openings and closings on the Coast in 2018:

New attractions

▪ The $15 million Ocean Adventures debuted in Gulfport and lets visitors discover what it’s like to swim with a shark.

▪ Infinity Science Center virtually takes visitors to explore the bottom of the sea in the Deep Ocean Explorer, which is part of a $10 million expansion.

▪ Biloxi got high-speed Finishline go-karts and its first new movie theater in decades when Premiere Cinema opened at Edgewater Mall.

▪ Ship Island Excursions began sailing from East Biloxi as well as Gulfport. The Betsy Ann riverboat cruised along the Biloxi shoreline.

▪ A $16 million Marine Education Center and Gulf Coast Research at Cedar Point in Oceans Springs has an amazing swinging suspension bridge as one of its attractions.

New restaurants & bars

▪ Bayview Cafe opened at IP Casino with self-serve wine tasting machine

Chicken Salad Chick at The Promenade in D’Iberville is something new for the Coast

▪ New coffee shops are Jacked Up in Biloxi, Bright Eyed Brew Co. in Ocean Springs and PJ’s Coffee in Bay St. Louis

Saltgrass Steak House in Biloxi, across from Golden Nugget Casino, has been packed since it opened during Cruisin’ The Coast.

▪ Central Station Bistro on Central Ave. in Bay St. Louis

▪ New Mexican restaurants are La Rumba Mexican Grill in Diamondhead and El Gallo Mexican Restaurant in Kiln

▪ Godfather’s Pizza at Loves Travel Stop in Biloxi

Jimmy John’s, already operating in Biloxi, opens another sandwich shop in Gulfport

▪ Singing River Hospital Cafe reopens after makeover. Many fast food restaurants also got a total makeover.

▪ The opening of a non-smoking casino at Island View Casino in Gulfport also brings new restaurants with great views of the water.

▪ The restored Lovelace Drugstore and Soda Fountain in Ocean Springs has its grand opening.

Marco’s Pizza in Biloxi

▪ Thomas Genin, who owns The Blind Tiger and its five locations, opens The Harbor Bar and RAW Oyster Bar in Bay St. Louis.

▪ Mugshots restaurant moved to downtown Gulfport, and El Saltillo moved a few spaces down to its former location in Edgewater Village.

▪ Brackish Waters restaurant in Moss Point opened in June.

▪ A speakeasy, The Wilbur at The Roost Boutique Hotel in Ocean Springs, comes with an entrance hidden behind a bookcase.

▪ Miami rapper Pitbull comes to Biloxi to open his first iLOV305 bar at Hard Rock Casino Biloxi

Live Oak Lounge opens amid the trees in downtown Biloxi

New retail

▪ Old Navy opens at The Promenade in D’Iberville.

▪ Three major national outlets open at Gulfport Factory Outlets — H&M Clothing Store, Kate Spade and Vera Bradley

Pav & Broome reveals a $2 million expansion and renovation

Roses Express discount store opens next to Rouses Market in Gulfport

▪ Negrotto’s new gallery opens on Carl Legett Road, Gulfport

▪ Goodwill Super Store are opening across the Coast in Long Beach and Biloxi and coming to Ocean Springs

Closings

It wasn’t just openings that made the news in 2018. Several businesses closed, among them:

Tulane University and Virginia College, both in Biloxi and both with dropping enrollments

▪ Winn-Dixie on Pass Road in Biloxi

▪ O’Neals Seafood Restaurant on East Pass Road in Gulfport

▪ Alston’s Antiques and Gifts on U.S. 49 in Gulfport, which had been in business about 37 years

▪ Backyard Burger on U.S. 49 in Gulfport

▪ Dapper Pig men’s boutique in Long Beach

▪ The Dock restaurant in Gulfport was changed from a restaurant to a catering and event venue

Coast Nightclub at Beau Rivage Casino closed and became a dueling piano bar until it was remodeled into a sports book and bar.

Coming to the Coast

More big projects are on the way. Here’s the list of the major development:

▪ Land is being cleared in D’Iberville in the area where Gulf Coast Galleria shopping center is proposed.

▪ The $93 million Mississippi Aquarium is going up along U.S. 90 in Gulfport and is scheduled to open in late 2019 or early 2020.

▪ Margaritaville Resort Biloxi is getting a $200 million expansion, with an amusement park, waterpark and two hotels on the way.

▪ Barrington Development, the same company operating Margaritaville, is building a Holiday Inn that will open next year at Centennial Plaza in Gulfport and is restoring the Markham Hotel in downtown Gulfport and the former Santa Maria tower into the Watermark suites hotel in downtown Biloxi.

▪ Fun Times USA was washed away by Katrina but the amusement park is making a comeback, this time in Biloxi

▪ Rouses Market will move down the street in Gulfport to a remodeled store

▪ A more modern Waffle House is under construction in East Biloxi

▪ Hard Rock Biloxi is bringing to the Coast the 24th Sugar Factory American Brasserie eatery in the world.

▪ The ugly old Federal Building in downtown Biloxi was demolished to make way for new Community Bank

▪ The third Taco Sombrero Mexican restaurant on the Coast is under construction near Ocean Springs.

▪ Also coming to Ocean Springs is a new Aldi supermarket, Inlet mixed-use development, a new and improved Woody’s Roadhouse that is going up behind the current restaurant and a sprawling assisted living facility on Ocean Springs Road

▪ Sky Zone Trampoline Park will be opening next year at Edgewater Mall, and a Brick & Spoon restaurant outside the mall.

▪ New Orleans Saints great Deuce McAllister is partnering with Ballard Brands to open Ole Saint at Boomtown Casino Biloxi.

▪ Three performing arts centers are on the way — a $15 million, high-tech center theater under construction in Pascagoula, a 900-seat performance center at Biloxi High School and a 1,200 seat facility at the Jeff Davis campus of Mississippi Gulf Coast Community College.

Top building permits for 2018

The Treen Report shows that more than $186 million in building permits were issued for commercial projects on the Coast this year. The largest are:

  • $51 million for Mississippi Aquarium in Gulfport

  • $15.5 million for the Blake assisted living center in Biloxi

  • $14.7 million for performing arts center in Pascagoula

  • $6.5 million for Premier Cinema at Edgewater Mall

  • $5.5 million for Race Trac service station on Washington Avenue, Ocean Springs

  • $4.3 million for four-story hotel at Anchor Plaza on Daniel Boulevard in Gulfport

Monday Market Update - Can your front door increase your house price by $6000? Yep!

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If You Paint Your Front Door This Color, Your House Could Sell for $6,000 More

Thinking about starting—or finishing—some projects around the home this winter? Good call: It’s always a good idea to make some updates to increase your home’s value, but be sure you’re making the right updates to get the most bang for your buck (and time and hard work, if you’re going the DIY route).

It’s no secret that some home updates don’t increase your home’s resale value as much as others, and some—like an ornate painted mural of your whole family, for example—hold more emotional value than actual value and may even decrease the value of your home in the eyes of potential buyers. Even if you’re just looking for a simple painting project, a few coats of a new hue can give your home a major boost—a $6,000 boost, even, according to real estate search site Zillow’s 2018 Paint Color Analysis.

The 2018 Analysis looked at more than 135,000 photos from homes sold around the country to get an idea of how certain paint colors can impact homes’ sale prices (as compared to comparable homes with white walls). The biggest boost came from a black or charcoal gray front door—Zillow found that homes with a front door in one of these colors could sell for $6,271 more than expected. That’s a huge increase in potential sale price for the simple, one-day task of painting your front door.

In kitchens—arguably the most important room in the house, in terms of upgrades—two-toned cabinets (Zillow calls them “tuxedo kitchens”) are the way to go, this year: Incorporating cabinetry of two different colors can increase sale price by $1,547. Zillow found that white cabinets paired with a dark blue or black island are most commonly seen in top-performing home listings.

“While cool, neutral wall colors like tan and light blue are still popular, we’re seeing a notable shift in home design where pops of color—particularly in darker hues of blue and gray to even black—are becoming increasingly popular,” Zillow home design expert Kerrie Kelly said in a press release. “Contrasting colors, especially in kitchens and home exteriors, add interest and dimension to a room that plays very well in listing photos and videos.”

And as for what doesn’t play well, colors specific to a particular homeowner’s style, like a red kitchen, actually decreased the sale price of homes by a whopping $2,310. (Surprisingly, homes with yellow exteriors also sold for less, according to Zillow.) It just goes to show—if you’re planning to sell your home in the near future, consider staying away from overly bold design choices.

This article originally appeared on Real Simple.

For guidance on which colors to select for your home to get it ready to sell, contact any of our experienced Realtors at Rain Residential. Provided by Kati Viola, Rain Residential Realtor - (228) 273-5757 or Kati@RainDev.com