Did you hear? New Grocery store in Ocean Springs

Did you hear the news? A new grocery store is coming to Ocean Springs. This will be good for competition, variety and jobs. I went to an Aldi in Ireland. I loved it. Had good prices….if they could just bring Ireland’s chocolate with them!

OCEAN SPRINGS, Mississippi -- Ocean Springs residents will soon have another option when doing their grocery shopping, as national grocery chain ALDI has announced its intention to build a store in the city -- the second in Mississippi.

"I am very excited about it," said Ocean Springs Mayor Shea Dobson in confirming ALDI's pending arrival. "I've known about them coming  for a couple of months, but have been keeping quiet about it."

The new store will be constructed on currently vacant property east of Grace Baptist Church and across U.S. 90 from the Ocean Springs Civic Center. Although no set date has been announced, it is scheduled to open sometime next year, alderman Rob Blackman said Friday night.

"This is a product of our new retail coach," Dobson said. "They did some legwork, recruited (ALDI) and we're thankful they're choosing to locate in Ocean Springs. We're also thankful for our retail coach bringing them to the table."

Founded in 1961 in Germany, ALDI US is headquartered in Batavia, Ill., and has more than 1,600 stores in 35 states, employing over 25,000 people. The first U.S. store opened in Iowa in 1976.

Internationally, ALDI has stores in 18 other countries.

According to the ALDI website, the company intends to have nearly 2,000 locations opened by the end of 2018. Tupelo was the first Mississippi city to have an ALDI's open.

ALDI says it focuses on the most commonly-purchased grocery items, and by purchasing those items in bulk it allows for sizeable discounts passed on to customers. More than 90 percent of goods found in ALDI stores are the company's exclusive brand products.

Monday Market Update

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Happy Monday - hope you all enjoyed @Crusinthecoast as much as we did, but today the cool cars have all gone and it is back to houses!!!

When to buy, when to sell??  People always ask us when the best time to buy and sell is, so we have the answer.  We looked at the last year's numbers in Ocean Springs.  

With the highest average sale price at $217k, 275 Active Listings, 96 homes Sold, and an average consecutive days on market of 79 days it appears that JULY is the winner when it comes to when to SELLING your home.

The slowest month for sales was January with an average sale price at $178k, 294 Active Listings, and only 44 homes Sold.  That said, the average days on market for January was actually the lowest at only 54, so things are still moving!


Noteworthy, the month with the lowest sale prices are February when the average sale price was only $175k!.

This proves to us that Spring is king when it comes to home sales, but the coast is growing and moving!!!! 

Courtesy of

Jennifer Jones

504-339-2093

Monday Market Update

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For this weeks Monday Market update we reflect on the last 24 months by focusing on a point in time and comparing.  Taking a look at the month of August from 2016, 2017 and 2018 we get a good idea of how things are looking!

Using this data, we see that the Ocean Springs District continues to perform well with an increase in the sales price for August of 2018 being 27.5% higher than it was just 24 months ago.  If we look just twelve months back, 2018 shows an average sales price 12% higher than that of August 17'.  That shows us that will the increase was slightly stronger from 16' to 17' the gains are nearly equivalent from 17' to 18' showing a consistent and upward trend over the last few years.

It's not just the average sales price that's risen, the total volume of sales in the district has been buoyed by the increase in prices as well.  In August of 16' there was 10 million in total volume.  That number jumped up to 13 million in 17' and was over 16 million this year.    

All of this indicates that it will remain to be a good time to sell.  That coupled with the fact that a majority of experts believe that mortgage rates will go down in the short term (Rate Trends).  This belies the fact that the market historically slows down from September-November, and gives me confidence in predicting that a similar comparison of the upcoming months with their past counterparts would show an even greater growth pattern!  

For sellers and landlords, now is a great time to talk to a Realtor and get a true value of your property!

For buyers, get pre-approved, talk to a Realtor who can help you develop a plan of action.  Develop an offer strategy, and understand what makes a Buyer more attractive to Sellers. 

Give us a call at Rain Residential and allow us to help guide you of the ins and outs of Buying and Selling in today's market! 

Article courtesy of

Allen Stanfield

28-383-5661

Rain Residentail

With home prices in Ocean Springs on the rise, now is the time to buy!  

In August of 2017, the median sales price of a home in Ocean Springs was $168,000, and last month the median sales price was $187,000.  So what are you waiting for?

Whether you are a first time buyer, or just need a refresher on what you should be doing now to get ready, these tips will help you secure funding for that dream home you have been wishing for.

How to Prepare to Finance a Home

Develop a budget.

Instead of telling yourself what you’d like to spend, use receipts to create a budget that reflects your actual habits over the last several months. This approach will better factor in unexpected expenses alongside more predictable costs such as utility bills and groceries. You’ll probably spot some ways to save, whether it’s cutting out that morning trip to Starbucks or eating dinner at home more often.

Reduce debt.

Lenders generally look for a debt load of no more than 36 percent of income. This figure includes your mortgage, which typically ranges between 25 and 28 percent of your net household income. So you need to get monthly payments on the rest of your installment debt—car loans, student loans, and revolving balances on credit cards — down to between 8 and 10 percent of your net monthly income.

Increase your income.

Now’s the time to ask for a raise! If that’s not an option, you may want to consider taking on a second job to get your income at a level high enough to qualify for the home you want.

Save for a down payment.

Designate a certain amount of money each month to put away in your savings account. Although it’s possible to get a mortgage with 5 percent down or less, you can usually get a better rate if you put down a larger percentage of the total purchase. Aim for a 20 percent down payment.

Keep your job.

While you don’t need to be in the same job forever to qualify for a home loan, having a job for less than two years may mean you have to pay a higher interest rate.

Establish a good credit history.

Get a credit card and make payments by the due date. Do the same for all your other bills, too. Pay off entire balances as promptly as possible.

Start saving.

Do you have enough money saved to qualify for a mortgage and cover your down payment? Ideally, you should have 20 percent of the purchase price saved as a down payment. Also, don’t forget to factor in closing costs, which can average between 2 and 7 percent of the home price.

Obtain a copy of your credit report.

Make sure it is accurate and correct any errors immediately. A credit report provides a history of your credit, bad debts, and any late payments.

Decide what kind of mortgage you can afford.

Generally, you want to look for homes valued between two and three times your gross income, but a financing professional can help determine the size of loan for which you’ll qualify. Find out what kind of mortgage (30-year or 15-year? Fixed or adjustable rate?) is best for you. Also, gather the documentation a lender will need to preapprove you for a loan, such as W-2s, pay stub copies, account numbers, and copies of two to four months of bank or credit union statements. Don’t forget property taxes, insurance, maintenance, utilities, and association fees, if applicable.

Seek down payment help.

Check with your state and local government to find out whether you qualify for special mortgage or down payment assistance programs. If you have an IRA account, you can use the money you’ve saved to buy your first home without paying a penalty for early withdrawal.

Do you need recommendations on who to call for your mortgage lending questions?  Our licensed Realtors can help!

By Kati Viola, Rain Residential Realtor

Buying or Selling? Let our team of experts assist you!  Contact Rain Residential (228)875-4499

Monday Market Update: 2 great events this week in Ocean Springs!

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It’s hard to believe these 2 great events fall on the same day! The Gathering is at the Roost  Saturday - George McConnell from Widespread Panic doing a mini concert plus Cathead Vodka decided to bring in a master mixologist! It’s a benefit so all proceeds go charity and tickets are $50/person. Open bar, EDL and Government street Grocery are doing food. Even though it is the same day as Mary C Octoberfest since that starts at 11:00 so you can take your kids then get a babysitter for the evening and come wind down at The Roost.

We shall GATHER at the The Roost for "WAMA warm up" on Saturday night September 22nd. Cathead Distillery lends us their Master Mixologist and Distiller, Phillip Ladner, as your guest bartender for the evening. Phillip will be serving up Cathead cocktails as George McConnell from Widespread Panic plays us some tunes beginning at 8:00 pm.

Jonathan Miles--novelist, former columnist for the New York Times, and contributing editor to several national magazines including Garden and Gun--will be signing books, before and during, so come early and enjoy complimentary tastings and lite bites with us. You’ll also have the chance to be the first to bid on some rad pieces of our not-so-silent auction.

Tickets are $50 per person OR all VIP Ticket holders for the Luther Dickinson Walter Anderson Museum of Art event get in FREE. All proceeds go to our cancer Warrior, Sir Elliot James Henson (8), who continues to defeat his disease and HOSA: the Historic Ocean Springs Association.

Your ticket includes: 
Cathead Distillery signature drinks, Chandeleur Island Brewing Company signature brews, and lite bites from Eat Drink Love Catering and The Government Street Grocery

TO BUY TICKETS:
THE GATHERING EVENT: www.paypal.me/roostoceansprings

OR to purchase VIP tickets for WAMA's Luther Dickinson Concert: 
https://www.walterandersonmuseum.org/shop/luther-dickinson-member-only-vip-pre-sale/

Sponsors: 
The Roost Boutique Hotel
Cathead Distillery 
Eat Drink Love Catering 
The Government Street Grocery 
Chandeleur Island Brewing Company

Silent Auction Items provided by Craig Brumfield Art and others.

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Octoberfest - Join us for a FUN DAY at The Mary C!

Day Activities: Under 21 admitted free!

The activities start at 11:00 AM with children’s art activities, unicorn rides, face painting, wiener dog contest and more and ends at 4:00 PM.

While the kids are having a blast, mom and dad can taste free beer samples from over 20 craft beer vendors with Crooked Letter Brewery being our Lead Sponsor.

There will be fabulous German food, Music by Blues Musician, Kenny Brown as well as Jazz, Swing, Hill Country and Oompah Music ALL DAY!

The Event will close between 4:00 PM - 6:00 PM

We will end the day with a VIP Dinner and Art Gallery Silent Auction

from 6:00 PM – 9:30 PM.

Evening Event: No one under 21

Age Requirement: (ID required at entry)
 

Adult Day Event Tickets: (21 and up – ID required) $25 Prepay/$30 at door day of event.  (includes daytime access, 4-oz sample mug for all craft beers)

Adult All-Day or/and Evening Only Pass: (21 and up – ID required) $40 prepay/$50 at the door day of event. (includes access day and evening, 4-oz mug for samples, Dessert, Silent Auction Access)

VIP Dinner: (21 and up – ID required) $90 prepay/$100 at the door day of event. (includes All-Day Pass, Commemorative 1-pint Beer Glass, German dinner/appetizers, craft beer samples, and one liquor/wine ticket)

Monday Market Update

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Happy Monday!  Taking a look at today's Monday Market update, we look back at the Ocean Springs Market for August and do a year over year comparison to August 2017.  

First off, we take a look at the absorption rate of the market.  In August of 2017 the market had 4.4 months worth of inventory actively available, and last month that was down to  3.42. (July 18' was 3.8).  This trend is one of many signs that prices will continue to rise and demand hasn't slowed down.  Following the absorption rate, we look at the median list and sales price year over year.  In August of 2017, the median list price was 210,000.  This year, that number jumped by 8% to $226,825.  The median sale price for August 2017 was $168,250 while this year that number jumped up a whopping 12.63% to $189,500.  While these numbers just provide us a snapshot of August vs. August, the year-to-date trends follow suit.  This year continues to show higher average sales prices, less days on the market, and shorter absorption rate.  

With all of this said, I'm not sure there has ever been a better time to sell a home in the Ocean Springs market. 

If you're thinking of selling, follow these Home-Selling tips to get started!

Find a great Real Estate Agent - Let us take care of you!  We happen to know a few great agents! http://www.raindev.com

Consider your curb appeal

Adding just a few things to make your house stand out can make all the difference in getting people in the door.

What is curb Appeal? & curb appeal that pays off

Declutter living areas

A clean and organized home makes a buyer see the possibilities. what to remove

Depersonalize

When viewing a home, buyer's need to imagine themselves living there, and having uniquely personal items makes that difficult. 10 tips to prepare for a showing

Repaint walls to neutral tones

While you may love that purple accent wall, chances are it won't appeal to the most amount of buyer prospects.

The colors that sell

Clean!

And then clean some more. You want your property to look spotless. Take special care with the bathroom, making sure the tile, counters, shower, and floors shine.

For where these tips came from and more info check out Realtor.com's Home Selling Checklist

Monday Market Update: Low inventory

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In Ocean Springs, residential real estate is low. How low? Well, put it this way, in July the absorption rate was 3.83 when calculated by months. What does that mean? It means that if no other homes were to go on the market, it is estimated to take less than 4 months to sell every home available. Of course, we do have new listings coming on the market every day, just not quite enough to satisfy buyers.

Here are the stats for July 2018:
Total active listings were 299, with 112 of those being new on the market, 91 of them sold, and 94 went under contract. The median list price was $213.300, and the median sold price was $195,000. The median cumulative days on the market was 24.  If you have been considering selling your home, wouldn’t it make sense to put your home on the market when inventory is low? Of course it does! 

Here are some things to think about when getting ready to sell.
If you're a homeowner, you already know that keeping your property in tiptop shape requires dedication and patience for ongoing maintenance. But what if you've put your home on the market, or even accepted an offer? Perhaps you're thinking: Not my problem anymore.

Sorry, folks, we've got news for you: Just because you’re selling doesn't mean you're off the hook from routine maintenance tasks—and that's especially true if you’ve already vacated the house. Sure, a well-cared-for house shows better: Small things like broken doorbells and leaky faucets make buyers wonder if your property also has bigger issues elsewhere. But more important, a little routine maintenance can help you avoid a catastrophic problem down the line (e.g., burst pipes, roof leaks, critters moving into your attic) that could devalue your property and derail that sale. 

To prevent minor issues from escalating into full-blown, money-sucking, sale-killing problems, focus on these six important areas you can’t afford to neglect. 
1. Keep up the yard and walkways  Whether you're still living at the home or not, you'll want to
make sure to keep your landscaping tidy—remove dead tree limbs, rake leaves, and clean out flowerbeds. If your home is already vacant, have someone tend to the yard regularly so that grass and weeds don’t detract from your home’s appearance.

If your home does not have a well-maintained exterior, potential buyers will cross it off their list. Consider having lights on timers so the house doesn’t look dark all the time. And do not let mail pile up in the mailbox.
2. Clean the gutters and check the roof This one's easy to forget about, even when you don't plan on going anywhere. But when it comes to gutter and roof issues, neglect can cause a dangerous domino effect. Overflowing gutters can damage your foundation, and also
lead to drainage issues. And, of course, you don’t want buyers seeing puddling water as they approach your house. And then there's the roof. Of course, it'll be examined during the home inspection, but it would behoove you to do it before putting your home on the market. Small roof cracks can remain undetected for years, causing water to slowly infiltrate your home and damage ceilings and walls. 
3. Service your HVAC systems
It’s not sexy, but the hidden guts of your home need regular attention, whether you’re still living there or not. That means having your HVAC systems professionally serviced. First up, your furnace: If you get it addressed before you list your home, it won't smell like dust when you crank up the heat during a showing on a chilly day. While you're at it, have the duct work and filters cleaned as well. Have a chimney? Be sure to have it inspected and cleaned.
4. Keep the critters out If you don’t want to add "family of raccoons included" to your listing (and pay the hefty tab for getting them out), inspect the inside and outside of your home for any areas that need to plugged up. Take care of holes from damaged siding or fascia under the roofline—and do it promptly. Stove and dryer vents, for example, should be covered with wire mesh to deter pests.
5. Wash your windows - Most people associate sparkling windows with spring-cleaning. If your house is on the market, it doesn't matter what time of year it is—you need to get those windows squeaky clean. If buyers walk through your home and all they see are dirty windows, that’ll really hinder the showing process. Make sure to wipe them down after a bad storm, when they're especially likely to show muck and grime buildup.
6. Check the calendar - Depending on what time of year you put your house on the market, pay attention to any details that scream, "We don’t live here or care anymore.” That means tackling seasonal tasks such as clearing away branches after a storm, or removing Christmas lights when Christmas is over.

Staying on top of these regular tasks will make it easier to sell your home with fewer  headaches. Plus, it'll preserve the value of your property, and potentially, the thickness of
your wallet, too. If you are ready to talk about selling, call us!

For a no obligations, free market analysis of what we think your home could list for, contact one of our experienced REALTORS at (228) 875-4499.

Portions of this article are from Realtor.com

By: Kati Viola, Realtor Rain Residential

Ocean Springs officials in negotiations with developer to bring old Allman's property to life

Wanted to share with you this interesting article from the Mississippi Press.  Porter Avenue keeps growing! 

By Warren Kulo

Updated Aug 24, 12:37 PM; Posted Aug 24, 12:21 PM

This property near the foot of the Biloxi-Ocean Springs Bridge, known to many as the "Allman's property," may soon be the site of a new development if negotiations between the City of Ocean Springs, the owner and a potential developer are successful. (Warren Kulo/The Mississippi Press)

OCEAN SPRINGS, Mississippi -- It's been sitting vacant for 18 years and virtually unused for decades, but if negotiations between Ocean Springs city officials, the property owner and a developer are successful, the old Allman's restaurant property near the foot of the Biloxi-Ocean Springs Bridge may become the site of a new development.

Ocean Springs alderman Rickey Authement, who represents that area of the city, confirmed to The Mississippi Press Friday that the City is in the very early stages of negotiations regarding the property.

Recently, there has been work done to clear the property, leading to widespread speculation that something may be in the works.

If fruitful, the negotiations could result in a public-private partnership which would involve a mixed use development on the site and a public boat launch along the waterfront portion of the property, just north of the bridge.

"We're still very early in the process," Authement said. "The man who owns the property wanted the City to buy it and do something with it. Of course, we didn't have the money and didn't want to borrow money to buy it."

The property is known to many longtime residents as the "Allman's property" because of the Allman's Restaurant which was located there for many years. After the restaurant shut its doors in the 1980s, the building remained vacant until the mid-1990s, when realtor Loris Bridge acquired the property in hopes of developing a marina complex on the site.

Those plans never materialized however, and in 2004 the old restaurant building was demolished.

Authement said he does not know who the owner of the property is or the name of the developer, but has been communicating with a local realtor who is representing the owner.

"We have a meeting next week and I think we'll have more details then," he said. "What it comes down to and we can make it work with the boat launch, they'd like to make it a public-private venture.

"I think it would be good for the city. Having a boat launch there would relieve some of the problems with larger boats trying to get down into the (Ocean Springs) harbor."

Authement said the City's involvement would be in the form of acquiring a long-term lease for the waterfront portion of the property for construction of the boat launch -- something he noted former Mayor Connie Moran had tried to do during her tenure.

One possibility floated for the property -- a hotel.

"That's true. That idea has been discussed," Authement acknowledged. "But there are some concerns about it being located right next to the railroad tracks. Again, it's still in the early stages. In order for us to make some decisions, they're going to have to bring us some clear details on paper.

"We're still a ways off as far as having some solid commitments."

Monday Market Update: Keeping you in the KNOW!

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Drone Footage of Aquarium Site

Happy Monday!  For today's MONDAY MARKET UPDATE we will be focusing on some new projects in the works and a few that will be coming down the pipes!  We want to keep you in the know of what's happening on the Coast so keep reading to find out more...

In a recent Sunherald article, building permits for family fun attractions were the focus and an astounding $135 million in new attractions are currently underway!  "It's already been a big year for new attractions in South Mississippi and lots more fun is on the way.

More than $135 million in building permits were issued for the first 6 months of 2018 and the largest project are all family attractions.

Leading the way is a $51 million construction permit for the Mississippi Aquarium in Gulfport... Among the indoor and outdoor exhibits will be the "Gulf Tunnel," a 30-foot long tube that will surround visitors with sea life. The aquarium is expected to open in late 2019 or early 2020, according to the attraction's website."

Also worth mentioning are the new laws passed that will allow for our Casino to offer sports betting as of July.  Chief Executive officer of Visit MS Gulf Coast, Milton Segarra was quoted regarding this offering as "Proving we're a very diverse and welcoming destination."

One other big announcement was from the Margaritaville Resort in Biloxi with their $140 million investment to build an amusement park and a second hotel tower in East Biloxi.

All of this is in addition to many new business such as Water's Edge Swimwear in downtown Ocean Springs, restaurants, and improvement to our local schools.

Great growth like this in industry we feel will certainly continue to drive the housing market,  leading to homes selling more quickly in our community.  

Please keep us in mind for your real estate needs!

Source: April Cook, Realtor - Rain Residential

 

 

Market update: Does the Real Estate Market Slow Down When School Starts Up???

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Does the Real Estate Market Slow Down When School Starts Up??? 

We are often asked when a good time to buy or sell might be.  Historically, spring is king when it comes to home sales.  This is when listings increase as do buyers looking for a new home.  The reason for this?  People may have more time to get out during the spring and summer months.  In our area, we find that parents often want to get established in a new school district.   Sellers may use the opportunity to present their homes when the feeling of "spring cleaning" is in the air - the grass is green and the flowers are in bloom!

But what do the numbers tell us??  In the past month versus May, 2018, active listings are down 3%, new listings are down 7% and sales are down by almost 4%.  The average days on market was 66 for homes sold over the past month and 67 for homes sold in May, 2018.  BUT, prices are UP!  In May, 2018 the average sale price was $153k while in the past month, the average sale was $170k!

So what does this tell us?  Could we have a sellers market on the coast one day??  Only time will tell, but it seems that Spring is not the only time the market is HOT.  Maybe we can thank our lengthy warm weather season down here on the coast!  ️