Yearning for water front? Yes, in some cases you will pay more; but for some people water front property is THE dream of a life time. Set your destination for the Mississippi Gulf Coast for some outstanding water front selections. Following is some recent information from the Gulf Coast MLS:
Ocean Springs:4bed/3ba/2 absolutely stunning 4,435 sf--Appraised for 1million, sold for $650,000 in only 51 days! Ironically, this property originally listed at $600,000 and was later raised to $700,000.
Ocean Springs:4bed/4ba/4735 Sf/18 stunning years--sold for $760,000 after being on the market 99 days.
Both of the above were conventional loans and took slightly less than a month from pend to close.
Beachfront Condos: 230 on Market, Many brand new, some pre-construction. Listings just short of a million down to less than $100 depending on your taste and location of choice.
Using 90 days back Gulf Coast MLS reported condo sales: We have 3 sales in Biloxi, 6 in South East Gulfport, 1 in Pass Christian. Recuced list prices ranged from: $79K to $290K. Closing prices ranged from $79K to $285K.
There are currently 48 water front homes listed ranging from $3million to $139, 000, two of these are listed as possible short sales. Prices tend to decrease as soon as you lose site of water:-)
Just a reminder that studying the Gulf Coast MLS is only part of the story. Still, it is the best tool we have and a tool that many entities other than REALTORS utilize to get a handle on the market. FSBO's will still be effected by the MLS data.
When you visit to scout your next home or business location, remember to enjoy yourself.
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