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Each month AR runs numerous contests as a way for our members to engage in activities
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Your Homepage will alert you of new questions in your state
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These state pages or hyper-local pages provide content directly related to a specific geographical location.
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Here's the Assignment: The assignment is open to the public at large as well as to Active Rain members. Please find a positive way to interpret any of the data, no sarcasm, and no backwards negativism disguised as positivism (I.e., Its a good thing you don't have a 3000-5000 sf home in West Harrison County). True Positives. We can do it!
(By the way, West Harrison County tends to have acreages, well and septic.)
Sometimes as Real Estate Professionals we are asked questions that requires a bit of REsearch. Well, it just so happens I am a REsearch fiend. As I was REsearching for a specific party I REalized that the REsearch could help others as well. The Gulf Coast MLS is my source of information which also means I am a due paying member of NAR, MAR, GCAR as well as the Gulf Coast MLS. (The MLS is not Free to REALTORS:-)
A very important consideration in evaluating this data is: Condos are not included. I would be happy to do a separate study if interest is indicated, or perhaps one of our other Mississippi REALTORS will do a condo REport... Condos are indeed a lucrative market on the Gulf Coast. This data does not include farms/ranches, land, or commercial, only MLS listed SF homes. Note also that the majority of this data is focused on single family homes in the 3,000-5,000 HC/SF range.
*It is extremely important to understand that the Gulf Coast has a huge inventory of FSBO properties on the market. I have not found a way to include FSBOs in REports. The simplest thing of course would be for all FSBOs to list with a REALTOR, then we would all have access to their data as well. Buyers, please understand that none of us would intentionally withhold information of for sale by owner properties (at least no one I know), but we could miss one, because we too have to be aware of FSBOs. Can you imagine each REALTOR trying to maintain an up to date, comprehensive list of FSBO property???
There is SO much inventory on the MLS it would be hard to imagine that a FSBO property could end up being the one property that a buyer would find satisfactory. However, if a Buyer is able to define an area and property criteria I will certainly endeavor to contact every FSBO as well. FSBO + MLS shopping definitely requires a defined relationship with the potential buyer (for me).
Here's my positive outlook: Homes are still selling. There is a lot of choice. The market is not stagnant. Understanding that there is a large inventory and a ballpark selling period will help you prepare. Still these figures are general. If you are a seller, you need to be ready for a quick sell--as well as your market possibly being on the market as long or longer than the data indicates. So, the positive in that is that you can prepare yourself. Positive REality is good, False expectation is not. Your REALTOR can help you understand the competing properties as well as the recently sold properties.
For example, it does no good to list your home according to the sell price a few properties, (even from the last few months) if you find the comparable homes on the market are priced lower.
The following Information is gained solely from Gulf Coast MLS statistics. This data does not include a huge inventory of condos and for sale by owner properties, nor are the differences between properties considered.
(Not inc Condos)
Current Active Listings
/# Sold in Prior 12 Months
X 12= Months Inventory
Gulf Coast MLS not including out of area
WoolMarket/E Harrison County
$1, 300, 000
$1, 100, 000
Please keep in mind that all data including and after MLS Homes 3000-5000 h/c SF only includes homes listed between that square footage.
Are you excited? If you found me, you are most likely thinking of moving to the Mississippi Gulf Coast and/or starting a business. I remember the excitement, anticipation and concerns about relocating. Therefore, I try to convey "slice of life" moments with photo-blogs and single photo uploads to assist you in getting a "real feel".
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.