Harbor Landing Condos in Ocean Springs, MS is one of my favorite developments in the area currently for investment potential and positive appreciation potential over the coming years. When Harbor Landing Condos was originally developed, the units were pitched strongly to investors under Go Zone and other real estate investor benefits for the area. The problem at the onset was that with so many investors, it was hard to gain positive cash flow for the units. Compound that with the fact that many of these investors had very similar exit strategies, and it was a recipe for disaster.

The good news is that it is turning around at Harbor Landing Condos. While there are still foreclosures that are popping up here and there, and several short sales in the development, the prices are starting to edge upwards slightly. It is my professional opinion, that once these short sale and foreclosure units are done (probably another year, maybe two), this development will increase in appreciation very quickly.

Now is the time to buy whether you are looking for a primary home, a second home, or an investment property capable of producing a good return on investment over 3-5 years. Over the past 6 months (October 2010 to date), there have been 9 sold units at Harbor Landing ranging from $35k to $86k (breakdown below, organized by closing price):
B13 listed on 10/11/10, sold 12/29/10 for $35k, pictures depict reasonable condition
F13 listed on 10/18/10, sold 12/16/10 for $35k, pictures depict reasonable condition
B5 listed on 6/8/10, sold 10/13/10 for $39,500, no photos, no description. This unit most likely set the precedence for the above two.
F8 listed on 11/9/10, sold 12/20/10 for $44,900, pictures depict reasonable condition
B11 listed on 4/2/10, sold 10/6/10 for $51,975, pictures depict reasonable condition, view of parking lot and Elk’s Lodge
F4 listed on 7/19/10, sold 3/16/11 for $52k, no photos, limited description
F10 listed on 7/23/10, sold 10/27/10 for $52,500, pictures depict reasonable condition
A21 listed on 11/4/10, sold 12/15/10 for $60,500, pictures depict reasonable condition
C3 listed on 2/15/11, sold 3/3/11 for $85,995, pictures depict reasonable condition

Another unit (foreclosure) was recently listed at $42,900 and put under contract within 5 days. While the listing agent could not comment on price, she was able to say it was “a great offer”. It is obvious that this development is seeing some increased prices over the past 6 months. While the occasional foreclosure will spring up, units are selling for more.  There are a few properties on the market now, starting at just under $53k that are subject to bank approval of a short sale. One in particular (that I have personally seen) at $52, 712 which is doubtful to be on the market much longer. It is my opinion that prices under $50k will be very few moving forward unless they are units with extremely poor views or are in need of repair.

Contact me if you have questions about Harbor Landing Condos or any other area on the Mississippi Coast. I diligently research the market to help my clients get the best deals and make sure they are as protected as possible when buying!

UPDATE (21 April 2011)

It seems Real Estate Agents are having an increasingly difficult time doing their job. When contacting two different agents that control 5 of the 7 units that were listed under $100k to gain access and preview for clients, I was told that all 5 of them are under contract – they just have not done their job and removed them from Active status in the MLS. That being said, there is one unit available at Harbor Landing and one that may be coming available in the next few days. One is listed at $52,712 and has a view of the bayou and small “doggie park”, the other is expected to come back on the market at $56,900 and is a marina facing unit that overlooks the marina.  The market is picking up VERY quickly out at Harbor Landing so let me know if you are ready to seriously look at either of these units. Both of these units are short sales and would be subject to final approval by lender. Cash offers will show much stronger and will typically be viewed as more favorable than financing, especially on the unit that is supposed to be coming back on the market soon.

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Bienville Place truly is one of Ocean Springs’ most active communities for real estate sales. Even in a slightly slower market, there are only 6 active sales at this time, only two of which have been on the market for more than 4 months. Bienville Place has consistently ranked well because it was an originally well-planned community, there is a high pride of ownership (people maintain homes and property well), and it is very easy access to shopping, dining, and entertainment while still enjoying the comforts of one of the best school districts on the coast. Of course, it is also a very short drive to historic downtown Ocean Springs.

Bienville Place has numerous homes on the south side of the subdivision with waterfront access to the extremely well-maintained lake and fishing on the lake is strongly maintained to residents only.

It is apparent when you drive into the Bienville Place subdivision that you are coming into an area where people care about their community. It is not uncommon to see people out maintaining their lawn or landscaping, people walking and enjoying the company of neighbors, kids playing, and plenty of people around to let you know if your vehicle is moving a bit to fast

If you are considering buying a home in Bienville Place, there is not typically a lot of negotiation room if the home is priced well as agents and owners know that another offer will come along so it is best to come in with a strong offer that is in line with market value, or at least not much shy of it. If you are considering selling a home, with limited active listings, now would be a good time. Contact me to assist either way and let me put my expertise to work for you!

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Ocean Springs is a thriving historic city located in a great position with open beach to the south and the Biloxi Bay to the west. There are few places that compare to it in the country and a definite “must-see” area on the Mississippi Coast. Ocean Springs boasts beautiful up-scale New Orleans style street shopping with boutique & antique shops, arts & crafts stores, and cafes with several ethnic and fine dining restaurants. Located within minutes of Biloxi’s casino row and sprawled with ancient oas – there truly is no place that compares.

If you enjoy a round of golf, Gulf Hills or St Andrews are excellent courses and provide a great real estate living experience if you are in the market for a home.

Many people who enjoy photography can spend days, potentially weeks taking photographs in the area and still not see everything. Whether you prefer landscape photography, water shots, bridges, or chartering a  boat to take wildlife shots on the protected National Seashore, there is more to take in around Ocean Springs than many people find across entire states.

Ocean Springs is also a wonderful place to call home.With 5 star schools, a low crime rate, and median incomes that are well above the national average, the city has become a hot spot for retirees and makes a wonderful getaway for “snow birds”. Homes in Ocean Springs are still well below the national average and  offer easy access to gaming, tourism, and major employers.

I enjoy working the Ocean Springs area as a professional real estate broker, but more importantly, I really enjoy spending time in the area. If you are considering buying or selling a home in Ocean Springs – please contact me and let me put my expertise to work for you.

See all listings of homes for sale in the gorgeous-coastal city of Ocean Springs MS here on this site.

In Ocean Springs, there are currently 470 Active residential listings on the market which breaks down to 425 single family homes and 45 condos/townhomes. Out of this total, there are 49 potential short sales, meaning that just over 10% of the homes on the market are listed for less than what is owed on them. This is great news compared to other areas of the country where half or more of the homes are selling for less than what is owed.

Ocean Springs closed transactions for the past 90 days  shows 87 residential units, 5 of which were condos. Over half of these sales were over $100k, with 12 that were over $250k (2 over $500k).

The Ocean Springs MS real estate market is looking better since my last update and is showing signs of more higher dollar buyers coming in. Two of the major draws to Ocean Springs is its rich culture and great schools.

For more information on specific market trends, IE: waterfront, condos, golf course frontage, etc. contact me today. You can also see all Ocean Springs listings for sale here on this site by clicking on the Buyer Homepage.

There is just something about living on the water that nothing else seems to match in terms of quality of life. Sitting on your deck in the early evening, looking over the open water or bayous, sipping an evening cocktail while enjoying the company of a loved one or close friend, or even sitting out in your back yard, fishing pole in hand, chatting with your kids. There is simply so much to enjoy from waterfront living and there is a reason the waterfront properties sell at a premium.

I spend a lot of time researching and viewing waterfront properties, and even more-so on the Biloxi Bay and the navigable waterways in the area. Due to Katrina, an anomaly by any standard, there are a lot of great deals still to be found on waterfront properties on and around the Biloxi Bay. Whether you are looking for the convenience and low maintenance of a condo at Anatole Bay or Bay Cove, or you are looking to build an upscale home at Langley Point – I can help if you contact me.

There are currently numerous lots on the Biloxi Bay, starting around the $100k+/- range, and there are more protected waterfront communities within minutes by boat to the bay starting in the $60k+/- range. May of these communities have many like-minded individuals that will share your enthusiasm for the water and fun and some have community use items such as pools and clubhouses.

Contact me to help you sell, buy or build your home on or around the water!

Harbor Landing Condos in Ocean Springs, MS originally sold to a lot of investors because of the great location and potential for high-dollar rentals. Unfortunately, things are not always like they are pitched and while the condo units had an excellent value, they were not great as investment units because rent demands would not create a positive cash flow with the 10-15% down that many investors bought with. This created issues with the HOA and foreclosures ensued shortly after.

Fortunately, many of the foreclosures are past and the development seems to be making headway again and moving higher in prices. The HOA seems to be on a bit more solid ground and it makes this community a viable one for those who want to live in a waterfront development with great views and great fishing.

Located in Gulf Park Estates, it is close to shopping and easy access to everything Ocean Springs has to offer in the way of shops and culture. A vibrant culture maintains Ocean Springs and the schools are among some of the best on the coast.

If you are considering living in a great waterfront community such as Harbor Landing or selling your existing unit, contact me and let me put my experience to work for you.

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