November 2017 Hattiesburg Real Estate News YOU Can Use

 Hattiesburg Zip Code 39401*

Through October of 2017, 261 Homes Were Sold. Through October of 2016, 255 Homes Were Sold. This represents a 2% increase.

Through October of 2017, the Average Number of Days on the Market for a home was 80. Through October of 2016, the Average Number of Days on the Market for a home was 105. This represents a 24% decrease.

Through October of 2017 the Average Sales Price of a Home was $114K. Through October of 2016, the Average Sales Price of a Home was $111K. This represents a 3% increase.

Oak Grove Zip Code 39402 *

Through October of 2017, 1044 Homes Were Sold. Through October of 2016, 1150 Homes Were Sold. This represents a 9% decrease.

Through October of 2017, the Average Number of Days on the Market for a home was 73. Through October of 2016, the Average Number of Days on the Market for a home was 86. This represents a 15% decrease.

Through October of 2017 the Average Sales Price of a Home was $216K. Through October of 2016, the Average Sales Price of a Home was $208K. This represents a 4% increase.

Petal 39465*

Through October of 2017, 249 Homes Were Sold. Through October of 2016, 211 Homes Were Sold. This represents a 18% increase.

Through October of 2017, the Average Number of Days on the Market for a home was 59. Through October of 2016, the Average Number of Days on the Market for a home was 82. This represents a 28% decrease.

Through October of 2017 the Average Sales Price of a Home was $160K. Through October of 2016, the Average Sales Price of a Home was $150K. This represents a 8% increase.

* All statistics are year-to-date.

Your referrals are VERY MUCH appreciated. Please contact me if you know anyone who needs to buy or sell a home. Thank you in advance!

All the best,

DEN

Dennis “DEN” Baum

All Star Team Realtors

Dennis@AllStarTeam.com

601-402-1993

 

 

 

 

October 2017 Hattiesburg Real Estate News You Can Use

Hattiesburg Zip Code 39401*

Through September of 2017, 250 Homes Were Sold. Through September of 2016, 233 Homes Were Sold. This represents a 7% increase.

Through September of 2017, the Average Number of Days on the Market for a home was 83. Through September of 2016, the Average Number of Days on the Market for a home was 104. This represents a 20% decrease.

Through September of 2017 the Average Sales Price of a Home was $115K. Through July of 2016, the Average Sales Price of a Home was $111K. This represents a 4% increase.

Oak Grove Zip Code 39402 *

Through September of 2017, 490 Homes Were Sold. Through September of 2016, 536 Homes Were Sold. This represents a 8% decrease.

Through September of 2017, the Average Number of Days on the Market for a home was 72. Through September of 2016, the Average Number of Days on the Market for a home was 87. This represents a 17% decrease.

Through September of 2017 the Average Sales Price of a Home was $218K. Through September of 2016, the Average Sales Price of a Home was $210K. This represents a 4% increase.

Petal 39465*

Through September of 2017, 228 Homes Were Sold. Through Through September of 2016, 186 Homes Were Sold. This represents a 23% increase.

Through September of 2017, the Average Number of Days on the Market for a home was 61. Through September of 2016, the Average Number of Days on the Market for a home was 8683. This represents a 27% decrease.

Through September of 2017 the Average Sales Price of a Home was $161K. Through September of 2016, the Average Sales Price of a Home was $149K. This represents a 8% increase.

* All statistics are year-to-date.

Your referrals are VERY MUCH appreciated. Please contact me if you know anyone who needs to buy or sell a home. Thank you in advance!

All the best,

DEN

Dennis “DEN” Baum

All Star Team Realtors

Dennis@AllStarTeam.com

601-402-1993

 

 

 

 

I Took a Trip to Detroit

I​ ​know​ ​what​ ​you’re​ ​thinking.​ ​Why​ ​in​ ​the​ ​world​ ​did​ ​I decide to visit Detroit?​ ​​That​ ​is​ ​a​ ​perfectly​ ​natural question.​ ​After​ ​all​ ​the​ ​terrible​ ​stereotypes​ ​one​ ​hears​ ​about​ ​motor​ ​city,​ ​why​ ​would​ ​DEN​ ​Baum​ ​want to​ ​make​ ​that​ ​trip?

The​ ​reason​ ​is​ ​that​ ​it’s​ ​there​ ​and​ ​I’ve​ ​always​ ​had​ ​a​ ​hankering​ ​to​ ​see​ ​it.​ ​It’s​ ​one​ ​thing​ ​to​ ​hear about​ ​black/white​ ​race​ ​relations​ ​gone​ ​terribly​ ​bad​ ​since​ ​the​ ​end​ ​of​ ​WWII,​ ​the​ ​1967​ ​riots,​ ​corrupt municipal​ ​governance​ ​run​ ​a muck,​ ​urban​ ​rot,​ ​blight,​ ​and​ ​decay,​ ​huge​ ​crumbling​ ​factories,​ ​and total​ ​economic​ ​collapse;​ ​and​ then ​juxtapose​ ​all​ ​of​ ​that​ ​with​ ​a​ ​Phoenix​ ​rising​ ​from​ ​the​ ​ashes​ ​which​ ​is what​ ​the​ ​NEW​ ​Detroit​ ​stands​ ​for​ ​today.​ ​Detroit​ ​is​ ​still​ ​struggling​ ​mightily with​ ​its​ ​past;​ ​but​ ​working​ ​hard​ ​to turn​ ​the​ ​page.

A house in the Heidelberg Arts Project area.
Dan Gilbert of Quicken Loans fame has spent MILLIONS on murals in downtown Detroit.
A pile of shoes and a clock in the Heidelberg Arts Project area.
A boat in the Heidelberg Arts Project area.
One of the many commercial, derelict buildings in downtown Detroit being re-purposed into tourist hotels.

 

 

 

 

 

 

 

 

 

 

 

In the early 1900’s, Detroit had the highest per capita income in the US.Today​ ​the​ ​burb’s​ ​of​ ​Detroit​ ​are​ ​in​ ​an​ ​arrested​ ​state​ ​of​ ​decline.​ ​Tate,​ ​the​ ​hostess​ ​and​ ​owner​ ​of the​ ​AirB&B​ ​where​ ​I​ ​stayed​ ​informs​ ​me​ ​that​ ​the​ ​opportunity​ ​to​ ​purchase​ ​abandoned​ ​homes​ ​at bargain​ ​basement​ ​prices​ ​has​ ​passed​ ​Sellers​ ​sense​ ​that​ ​the​ ​beginnings​ ​of​ ​a​ ​recovery,​ ​feeble​ ​as that​ ​recovery​ ​might​ ​be,​ ​is​ ​at​ ​hand.​ ​They’re​ ​trying​ ​to​ ​hold​ ​on​ ​for​ ​better​ ​days​ ​and​ ​higher​ ​prices.

This is where I stayed. I estimate $300K in remodeling costs would bring it up to custom home minimums.
A view from the landing. Lots of deteriorated wood paneling. Previous tenants used much of it for kindling!
My “elegant” bedroom!
The dining room. My hostess provided the most fabulous breakfasts!

The​ ​new​ ​owners​ ​of​ ​1920’s​ ​vintage​ ​properties​ ​purchased​ ​at​ ​bargain​ ​basement​ ​prices,​ ​with​ ​an eye​ ​towards​ ​rehabbing​ ​their​ ​dilapidated​ ​mansions,​ ​are​ ​faced​ ​with​ ​astronomical​ ​costs​ ​in​ ​just keeping​ ​their​ ​utilities​ ​on​ ​and​ ​paying​ ​their​ ​property​ ​taxes,​ ​much​ ​less​ ​making​ ​meaningful​ ​repairs. The​100+​ ​year​ ​old​ ​property​ ​you​ ​now​ ​own​ ​is​ ​literally​ ​falling​ ​down​ ​around​ ​your​ ​head.​ ​It’s​ ​triage. What​ ​do​ ​you​ ​fix,​ ​and​ ​what​ ​do​ ​you​ ​allow​ ​to​ ​die?​ ​Most​ ​owners​ ​repair​ ​the​ ​roofs​ ​and​ ​walls,​ ​maintain the​ ​yard,​ ​and​ ​hope​ ​for​ ​better​ ​days.

But imagine what it looked like in a previous era!
One will encounter blocks and blocks of these homes waiting for the wrecking ball; or maybe it will just take a strong gust of wind!

As​ ​you​ ​travel​ ​the​ ​city,​ ​you​ ​come​ ​to​ ​understand​ ​what​ ​happened​ ​to​ ​a​ ​city​ ​of​ ​1.85M​ ​people​ ​in​ ​the​ ​‘50’s when​ ​1.2M​ ​people​ ​left​ ​after​ ​the​ ​riots​ ​of​ ​1967.​ Factor in the ​ ​economic​ ​collapse​ ​and​ ​a​ ​sea​ ​change​ ​in manufacturing which resulted.​ ​Abandonment,​ ​plain​ ​and​ ​simple.​ ​The​ ​white​ ​people​ ​left​ ​for​ ​the​ ​far​ ​away​ ​suburbs, and​ ​others​ ​just​ simply ​left.​ ​What​ ​they​ ​left​ ​behind​ ​were​ ​their​ ​homes, possessions, and dreams.

I was assured, that despite all the derelict homes and buildings that I observed, Detroit is in WAY better condition and appearance than it was even two years ago. Many derelict homes had been removed.

Detroit​ ​is​ ​tearing​ ​down​ ​whole​ ​neighborhoods​ ​of​ ​abandoned​ ​buildings,​ ​but​ ​at​ ​a​ ​measured pace because it’s​ ​an​ ​expensive, slow​ ​process​ ​that ​ ​needs​ ​to​ ​be​ ​done​ ​correctly.​

​Some​ ​neighborhoods​ ​become huge​ ​cooperative​ ​vegetable​ ​gardens,​ ​others​ ​become​ ​art​ ​projects​ ​like​ ​Heidelberg.
Downtown​ ​Detroit​ ​is​ ​also​ ​a​ ​work​ ​in​ ​progress.​ ​I​ ​took​ ​an​ ​interesting​ ​and​ ​informative​ ​2​ ​hour walking​ ​tour​ ​which​ ​highlighted​ ​all​ ​the​ ​blocks​ ​and​ ​blocks​ ​of​ ​real​ ​estate​ ​now​ ​owned​ ​by​ ​Mr. Dan Gilbert ​of​ ​Quicken​ ​Loans.​ ​With​ ​the​ ​exception​ ​of​ ​a​ ​few​ ​others,​ ​it’s​ ​as​ ​if​ ​he​ ​is​ ​single​ ​handedly rebuilding​ ​Detroit.​ ​There​ ​is​ ​much​ ​re purposing​ ​of​ ​abandoned​ ​skyscrapers​ ​taking​ ​place,​ ​but slowly.

I enjoyed my trip and found every adventure interesting; particularly the Detroit Institute of Art and the Detroit History Museum. However, it’s a trip for the adventurous and for those who want to experience the unusual.

Trash and Treasure in Lamar County, MS

The first time I visited Oak Grove after my son and daughter-in-law established residency here, I was struck by the vast dichotomy between neighborhoods and available housing. Most neighborhoods are lovely, with “pride of ownership” being evident. Oak Grove is a beautiful community west of Hattiesburg. I hesitate to call Oak Grove a suburb, because there are only county agencies in authority, and no municipal government. There are no building codes in Lamar County, either. Oak Grove is in Lamar County, but only parts of it are within the city limits of the Hattiesburg.  Those residing in Oak Grove consider themselves part of Hattiesburg in as much as their mailing addresses reflect the same.There are more ordinances than there used to be, but the rules and regulations are looser than in the city, and they are unevenly enforced. For the most part, residents out in the county, live by the lyrics of  the Merle Haggard song Okie from Muskogee,  “we like living right and being free”; they don’t particularly appreciate county government interfering in their business, with a few exceptions.  

Traveling through the “Grove”, a variety of different neighborhood settings can be observed. Subdivisions are generally very well maintained. Their physical appearance and how well they are maintained, sometimes depends on whether or not an active HOA (Home Owners Association) with binding and enforceable bylaws are in place. Regardless of whether or not a set of bylaws exists, homeowners often band together by consensus to maintain a minimum level of order and decorum in their subdivision or neighborhood. No one wants cars on blocks sitting in the front yard. If an uncaring neighbor is inclined to flaunt such action in the face of his neighbors, they’re going to get an earful or worse!

Then there’s the trailer trash. It’s obvious to even the casual observer, that in between the numerous manicured subdivisions, or on any given stretch of road or highway in Oak Grove or throughout Lamar County, it’s possible to encounter stretches of trashy looking mobile homes or trailers. Take Slade Road or Nobles Road as just two examples. There is very little separating the “trash” from the “treasure” in terms of property.

When I mention trash, I mean it, and you’ve seen it in photos many times before. Picture a broken down trailer home surrounded by barking dogs on chains, next to discarded washers, dryers, and assorted derelict automobiles, mounds of household discards, etc. Down the road a spell are the custom iron gates of a 60+ acre horse farm and residence with stables, swimming pool, gorgeous green pastures, and many more amenities valued at several million dollars.

Naturally, as I work with buyers and travel over the streets and highways of Lamar County I get the following question from those I’m working with; “Dennis, how is it possible that a piece of trash like that can occupy the same relative proximity as a mega estate? What is going to keep some hillbilly from buying the property next to mine, parking a trailer on it, and turning it into a pile of trash?”

The facts are these. Many mobile home sites are “grandfathered”, as are any number of mobile home parks. Most likely these properties have been there for many years. Should anyone wish to open a new mobile home park or place a trailer on a lot in Lamar County, the Lamar County Board planning  and zoning departments are going to take a long, hard look at the effect such a development would have on the value of surrounding properties. There are going to be hearings, and based on the findings, a decision is going to be made as to whether or not a mobile home park development or home can move forward.

Mobile homes, trailer parks, and the like are generally not looked upon favorably where they might impact negatively on conventional homes or subdivisions.  By the same token, it is not possible to mandate the removal of mobile homes or trailer parks where they are already in existence. The chances of a trailer home or a trailer park being allowed to establish itself in an area where it doesn’t conform with the existing surrounding are nill. No permits for power, water, or sewer installation would be issued.

 

August 2017 Hattiesburg Real Estate News YOU Can Use

 Hattiesburg Zip Code 39401*

In July of 2017, 203 Homes Were Sold. In July of 2016, 187 Homes Were Sold. This represents a 9% increase.

In July of 2017, the Average Number of Days on the Market for a home was 88. In July of 2016, the Average Number of Days on the Market for a home was 108. This represents a 19% decrease.

In July of 2017 the Average Sales Price of a Home was $118K. In July of 2016, the Average Sales Price of a Home was $107K. This represents a 9% increase.

Hattiesburg Analysis: There is a bit of a paradox in home sales this month in Hattiesburg. Although homes are selling at a 9% premium over the same time last year; they are taking 19% more days on  market (DOM) to do so.

Oak Grove Zip Code 39402 *

In July of 2017, 400 Homes Were Sold. In July of 2016, 414 Homes Were Sold. This represents a 3% decrease.

In July of 2017, the Average Number of Days on the Market for a home was 75. In July of 2016, the Average Number of Days on the Market for a home was 90. This represents a 17% decrease.

In July of 2017 the Average Sales Price of a Home was $218K. In July of 2016, the Average Sales Price of a Home was $210K. This represents a 4% increase.

Oak Grove Analysis: So far this year, homes in “the Grove” were selling 17% faster than last year, and at a price that is 4% higher.

Petal 39465*

In July of 2017, 173 Homes Were Sold. In July of 2016, 140 Homes Were Sold. This represents a 24% increase.

In July of 2017, the Average Number of Days on the Market for a home was 67. In July of 2016, the Average Number of Days on the Market for a home was 86. This represents a 35% decrease.

In July of 2017 the Average Sales Price of a Home was $162K. In July of 2016, the Average Sales Price of a Home was $147K. This represents a 10% increase.

Petal Analysis: WOW! Petal out performed Hattiesburg and Oak Grove in the month of July. Petal checked all the boxes and touched all the bases! 24% more homes have sold so far this year; and they sold in 35% fewer days on the market than last year for 10% more money!

* All statistics are year-to-date.

 

 

 

 

 

A Street Light for Greenwood Place Subdivision

It’s a fact. Neighbors these days don’t know each other like they used to. How well do you know your neighbors? Do they play an important role in your life or in your family’s social network? Do you say hello to them in the driveway or as you walk down the sidewalk? Or do you really have no interaction whatsoever with the people who live nearby?

According to 2015 General Social Survey data, only about 20 percent of Americans say they spend time with their neighbors, and nearly a third of the population reports no interaction whatsoever with the people who live nearby. That’s a flip-flop of the way things were back in the 1970s, when nearly 30 percent of Americans reported hanging out with their neighbors at least twice a week.

I recently decided that Greenwood Place Subdivision needs a streetlight on the corner of Grand Blvd and Cameron Road, It’s a treacherous turn to navigate in pitch darkness and studies show that illumination discourages the criminal element!

In the course of polling my neighbors regarding their thoughts on the subject, it became obvious that neighbors don’t know neighbors like they did in the past. Hopefully, the installation of this street light will give us more of a sense of community and bring us all closer together. It certainly can’t hurt!

July 2017 Hattiesburg Real Estate News YOU Can Use

Hattiesburg Zip Code 39401*

In June of 2017, 167 Homes Were Sold. In June of 2016, 158 Homes Were Sold. This represents a 9% increase.

In June of 2017, the Average Number of Days on the Market for a home was 86. In June of 2016, the Average Number of Days on the Market for a home was 108. This represents a 20% decrease.

In June of 2017 the Average Sales Price of a Home was $119K. In June of 2016, the Average Sales Price of a Home was $105K. This represents a 14% increase.

Hattiesburg Analysis: There are two bright spots in the Hattiesburg real estate area so far this year! Homes have sold at a 20% faster clip, and they’re doing so at a price that is 14% higher than last year.

Oak Grove Zip Code 39402 *

In June of 2017, 323 Homes Were Sold. In June of 2016, 335 Homes Were Sold. This represents a 4% decrease.

In June of 2017, the Average Number of Days on the Market for a home was 78. In June of 2016, the Average Number of Days on the Market for a home was 94. This represents a 17% decrease.

In June of 2017 the Average Sales Price of a Home was $210K. In June of 2016, the Average Sales Price of a Home was $210K. This represents a 0% increase/decrease.

Oak Grove Analysis: So far this year, homes in “the Grove” were selling 17% faster than last year.

Petal 39465*

In June of 2017, 144 Homes Were Sold. In June of 2016, 115 Homes Were Sold. This represents a 25% increase.

In June of 2017, the Average Number of Days on the Market for a home was 69. In June of 2016, the Average Number of Days on the Market for a home was 91. This represents a 24% decrease.

In June of 2017 the Average Sales Price of a Home was $158K. In June of 2016, the Average Sales Price of a Home was $146K. This represents a 8% decrease.

Petal Analysis: Business is picking up! 25% more homes have been sold in Petal through the month of June this year, than during the same period last year, but prices are lagging.

* All statistics are year-to-date.