Home > Blogs > Patti Crosby > Patti Crosby's (biloxiresortcondos) Blog

Investing In An Emerging Real Estate Market

By Patti Crosby

Real Estate Agent with Coldwell Banker Alfonso Realty, Inc

August 27, 2007 09:27 AM

Looking over all the media this week in magazines, newspapers and TV, there is one resounding message that's clear................Mississippi Gulf Coast is on its way back. Sure it's going to take some time, but baby let me tell you, Biloxi is on the fast track to appreciate in value. Why? Because there is a certain set of market indicators that are working together to cause the market to grow. Hurricane Katrina leveled the waterfront community creating opportunities for development, one of the market indicators. The casino market is another, with over 20 casinos slated to be built (12 existing now), Billions of dollars and big brand name companies are moving in for a market share of this valuable emerging market.

Another strong indicator came in the form of a gift from IRS;Tax incentives extended along the Gulf coast from the federal government called the Gulf Opportunity Act better known around these parts as "the GO ZONE", this allows qualified buyers to take a 50% accelerated depreciation on property in the first year of ownership. Consult your tax accountant to verify if you can qualify for this incentive.

With all the people and new jobs coming to this area, affordable housing is the next indicator, the housing commission recently announced that over 100,000 new homes are going to be needed in the market over the next 5 years. Right now there is a shortage of supply but demand is growing.

Airport expansion is another indicator. There is a $51 million dollar airport expansion in Gulfport happening right now, history proves that airport expansions grow a real estate market. Take Ft. Myers for example:in the early 80's that area was a vacant Florida territory, then in 1983, Ft. Myers opened an international airport which caused Ft. Myers to undergo record levels of growth and appreciation. Gulfport expansion will be completed this year. Case in point, look at Panama City Beach, with their new airport expansion, just wait and see the explosion of growth in that city.

Now investors pride themselves in looking for new areas of Real Estate that will appreciate. With all these indicators pointing to the south and Biloxi, its time to get in front of it, its just starting and this market is outstanding one to invest in.

Comments(2)

Comment

Show All Comments

Sort:

Suburban Chicago Illinois Real Estate

Suburban Village Realty - Barrington, IL

Patti,

We've been waiting for somebody to bring this up.... let's not forget all of the brand new master planned communities being built. It's a beautiful area with an incredible amount of potential.

Aug 27, 2007 09:38 AM

Patti Crosby

Coldwell Banker Alfonso Realty, Inc - Ocean Springs, MS

This whole southern portion of the state is racing towards another explosion of growth, it has happened many times. For instance; we have seen it back in the early 90's when casino gaming was first approved. It was a classic example of supply and demand. Homeowners were asking and getting whatever price they wanted. Builders were buying parcels of land and just putting subdivisions in where ever they could close to "town". Many people wanted the convenience of shopping, schools, and recreation space in a small community. That is one of the reasons Ocean Springs is so popular with families, singles, retirees and especially the military personal that are stationed at KAFB for 3 or more years. The schools are Level 5, red ribbon, top rated schools with high test scores. But all that is fixin to change, developers have listened to what people want and they love the "planned communities" that offer all the conveniences of a small town including that personal touch of southern hospitality. Bike paths and open spaces along with playgrounds that offer kids the chance to play the day away and not be scheduled for activities. That is what first attracted me to this area, the chance to slow down and enjoy life. Visitors from other areas are always amazed at the pace here, they don't need permission to relax, just a place to do it. Our waterfront communities offer so much in the way of family activities with boating, fishing, and trips to the barrier islands, while parents can spend some time in the gaming or entertainment industry here, like the Mississippi Coast Coliseum & Convention Center located in Biloxi on HWY 90, they have many events, concerts, festivals, during the course of a year,in fact most find they have to choose between events because there is so much to do. It all comes back to an area racing towards a Tier One tourist destination resort. Another market indicator for savvy investors. Opportunity comes in many forms. If you have any clients that wish to invest, please let them know about southern Mississippi, they will think you are a genius. The GO ZONE Act will expire on December 31, 2010, plenty of time left to get involved.

Aug 28, 2007 09:40 AM

Comments(2)

Patti Crosby

Recent Posts