Over the past year, we have seen more home sales slip through because of what used to be minor issues but now the banks simply do not budge on their requirements. Even with these issues, we have seen a steady stream of home buyers who have contacted us to assist in buying a home and we continue to work with them daily. Over the past few months, we have continuously seen more requests for information through this website and our other sites and have noticed that more of these contacts are ready to start looking for their new home where many of the requests several months ago were more “information gathering”.

We leave this site open and report as much data as possible on our area and the housing market and leave all doors open to our readers to gather as much information from this site as possible. We are available for questions or to assist you in your home search when you are ready and will have as little or as much contact with you as you want. Make no mistake – the Mississippi Coast Housing Market is moving and we are here to assist you in your needs. Check out our Buyer’s Page or Contact Us for more information on general real estate inquiries or when you are ready to put us to work for you!

Who is eligible?

• A person/family who is not a current homeowner in the 6 eligible counties
• A renter who wishes to own a home and has not owned a home in the past 6 months
• A person displaced by Hurricane Katrina who wishes to buy a home in the 6 eligible counties
• A new resident to the 6 eligible counties
• An individual whose income is not more than 120% of median income as defined by HUD (see Chart)

What about participant support?
As part of the My Home My Coast program, participants will go through a class on home ownership, and counseling both before and after the purchase of their home. The My Home My Coast program is designed in a manner to help people own homes long term and provide counseling to help mitigate the possibilities of foreclosure.  This counseling is also designed to help participants with credit repair and is individually catered to each person to achieve the highest possible results.

How much money can you get?
The program is determined by each participants needs but offers up to a 40/60 value loan program. Local approved lending institutions fund as little as 40% of the loan while  the remaining (up to) 60% is provided through block grants as a 0% loan. Closing costs and downpayment assistance is also provided. Down payment assistance is determined based on participant’s income to the Average Median Income (AMI) – See Chart.

Are there any other requirements?
The My Home My Coast program does require that you use specified lending institutions and closing agents when you buy your home. This list of “acceptable” suppliers is used to create a more seamless transaction as these suppliers are familiar with the unique way the program is handled.

Where do I go from here?
If you have already received My Home My Coast approval, contact us to help you find your new home. If you still need to apply, you can view the My Home My Coast website at MSGCRC.com. At the time of this writing, the My Home My Coast program is not taking additional applicants. I am in contact with the MSGCRC staff to get updated when this occurs. You can also call 1-888-49-Coast (888.492.6278).

Home lighting is an easy and relatively inexpensive way to showcase your space in the most flattering way possible. Here are some illuminating home lighting tips to help get your space in tip top shape before going on the market.

Foyer & Entry Way Lighting: Speaking of first impressions, start things off right with an impressive ceiling fixture in your foyer. A mini chandelier or sculptural pendant light would be a welcome visual treat for anyone who walks through the front door.

Living Room Lighting: The living room is made for entertaining so you need warm and inviting lighting. Nothing too bright or unnatural. Table lamps and floor lamps with dimming bulbs work wonders for creating a nice, comfortable atmosphere. You’ll also want to take down any heavy curtains and let in some natural light.

Dining Room Lighting: Also used for the entertaining, the dining room is often considered the focal point in a home. A lovely chandelier or pendant centered over your dining room table would really pop in your space, in addition to providing more than adequate light for dining.

Kitchen Lighting: Under cabinet lighting is necessary if you have cabinets that hang over your counter space. The added benefit of under cabinet lighting is that it brilliantly showcases granite countertops. Consider installing some pendant lights over a kitchen island or bar as well as over your kitchen table. Kitchen lighting needs to be comfortable yet functional.

Bathroom Lighting: The bathroom should be the brightest room in your house. Vanity mirror lights on the sides or over your mirror is generally the way to go. You’ll also need an overhead light of some kind – nothing fancy. If your bathroom doesn’t have a ventilation fan you might want to invest in one of those now. You can buy ventilation fans with built in lights.

Chances are you probably already have light fixtures up in your home if you’re currently living there, but if any of them are broken or dated you might want to consider updating them with something a bit more contemporary. It’s also OK to add more fixtures than you might normally have just to show your space in the best possible light. Also, make sure that you are fully utilizing your home’s natural light. Open up your blinds, take down those curtains. Let the sunshine in!

The tax credit was enacted to help get rid of existing inventory in the housing market and is a change to the existing $7500 tax credit. The previous tax credit was in the form of a forgivable loan – the new $8,000 credit does not have to be paid back.

In order to qualify for the credit, you simply have to buy a “first” home in 2008, make less than $75,000 (or $150,000 married filing jointly), and talk to your tax preparer. If you have special circumstance which apply to you or are subject to withholding, you may want to talk with your accountant on how this tax credit can benefit you.

In order to fully qualify and avoid recapturing the tax credit, you must move into the property (and own it) prior to December 1, 2009 and must maintain it as your primary residence for at least 3 years. Special circumstances are allowed for the 3 year occupancy but it is best to plan for 3 years of occupancy.

Table Below provided from information by the National Association of Realtors®

The new bill will create many more opportunities for our area, both in recreation, jobs, and real estate. The Tourism Bill, House Bill 1467, will provide tax incentives to gaming institutions who build non-gaming establishments with a minimum investment of $10 million or hotels with a minimum investment of $40 million.

My predictions are that this bill will help stimulate casinos to build other attractions which would help the overall desirability of the area and produce numerous entry level jobs as well as a good portion of management level positions. Things that many residents miss from our area are things such as go-cart tracks, putt-putt golf, and similar smaller attractions which can now be done on a larger scale – I still miss Fun Time USA, which I can remember spending all day when I was a kid on the beach in Gulfport.

The easy access of the new Hwy 605 corridor that stretches from Gulfport through Tradition as well the Hwy 67 which creates a direct commute from Saucier (Hwy 49) to D’Iberville are my predictions for some projects. While some of the northern portions of these roads may see further growth times, you should expect to see something happening around the interchanges closer to I-10 and potentially in the Tradition area, where Hwy 605 and Hwy 67 meet, especially now that Mason Trendsetters is building in Tradition and bringing an affordable house plan to the community at a great value.

Investors:
Not only is our area the top-forecasted market for appreciation over the coming years, but with incentives like these, it makes it an even smarter investment. We are currently looking to investors who have a vision of the future on the Mississippi Gulf Coast, and want to get great properties in one of the strongest markets – which just so happens to contain some of the most under-valued real estate in the country.

Whether you are looking for immediate cash flow properties or are a little more financially able and looking to land-bank properties for future return – give us a call!

Casino Operators:
If you are looking for some great ideas to capture some of these incentives – I am open for discussion

CALL OR EMAIL US TODAY for more information on investing on the Mississippi Coast!