If you are looking to buy a home in Gulfport MS, or anywhere else on the coast, and the MLS and print magazines are your only research, you are doing yourself a great disservice. Good news, is that you obviously are taking the next step and looking at more detailed community information and searching online. This site has a LOT of information on various subdivisions/communities across the Gulf Coast and I strive to maintain accurate information on as much as possible.

The Gulfport MS homes market consists of numerous older communities and many new homes subdivisions. Do to high competition, many buyers are looking at newer homes (less than 10 years old), and some are choosing to buy new, never lived in homes in many of the upcoming communities in the area.

Areas such as Belvedere and Owen Place offer homes starting in the $130k range and up, or you may want to look at homes at Windance or maybe Roxbury Estates, where very nice homes can be found in the low $200k range and up. Swan Lake and The Overlook at Swan Lake are always popular choices, just outside the city limits with amenities such as pool, park, and clubhouse, or you may choose to get a little closer in to everything and look at one of the many fine subdivisions there.

If you do not want to look at subdivisions, and want to get something with a little more privacy, or built on your existing lot, I have an excellent builder who is very reasonable. Contact me today and let me help you find your perfect home. You have options – don’t settle.

Over the past few years, new homes have dominated the market in Gulfport and Biloxi MS. This is partially from unknown issues with “pre-Katrina” homes and the relatively low pricepoint of new homes. New homes in desirable subdivisions are starting in the $130k range with many nice amenities such as granite counters and tile floors. Obviously, prices go up from there, but we are not talking about a crappy little vinyl-wrap box for that and other builders are following suit.

It is feasible to even get a nice, waterfront home starting at this pricepoint. I have a builder that has averaged around $80/ft and really pays attention to the details of a home. He is able to keep his costs low because he has been using many of the same subcontractors for years and he keeps them busy (the philosophy of steady work at a steady pay is better than sporadic work at high pay).

Whether you are looking to buy a new home in a new subdivision or build a new home, contact me to assist with the process. I am typically paid by the seller or builder giving you my expertise without having to come out of pocket.

With tax advantages (Go Zone) and other incentives (SRAP, MDA), many investors fell prey to unscrupulous or unknowledgeable agents and brokers pushing properties just to take advantage of these incentives. It is unfortunate that this happened, but in some ways it has made it a great market place for serious investors who work with a broker who truly helps minimize risk and secure the investors objectives.

There are so many ways to make money in real estate investing. I am familiar with many, but my specialties lie in the analysis of residential (single family and multi-family) properties. This includes developing raw land for residential use as well. I will touch on just a few here that offer exceptional opportunities.

Go Zone
Go Zone has been extended through the end of this year. It is expected that this will be the last extension so if you are looking to take advantage of this, NOW is the time to do so. Go Zone offers the ability to depreciate 50% of the improvements on a property in the first year. The property has to have not been put into service (see more info on Go Zone). This depreciation can be carried back to recoup taxes as well as forward to help mitigate future tax liability. Just because it sounds good though – don’t always jump just because it looks good on paper!

Go Zone is an excellent incentive when used as a part of your overall real estate investment plan. Some agents have no problem selling you an overpriced property that will never cash flow, just so you can get go zone depreciation. Stay away from multi-family right now. The market is inundated with duplexes and fourplexes from people buying overpriced for Go Zone. Unless you have something really special – stay away. It simply makes no sense to spend $80k-$100k a door when you can buy foreclosed units for $40k-$50k a door, sometimes less. Single family homes are the best way to go. Their are a handful of communities where you can pick up existing inventory that will cash flow and offer a high chance of good appreciation. Single family homes give you the best exit strategy as well – much easier to sell a home than a duplex.

Foreclosures
Due to many investors being taken advantage of over the past few years, there are numerous foreclosure and really great deals in the multi-family market, specifically in duplex units. It is not uncommon to find fairly new duplexes in the $80k-$100k range that will reach rents around $1500/month (both sides). Many of these deals reflect double-digit CAP rates which are almost unheard of in the residential market.

There are also opportunities in “flipping” properties. The best deals are for those that have cash and a stomach to sit on something for several months. The properties that have the most potential for return on investment also require the most work and may take a few months to complete if you are working to adhere to a stricter budget. If you have the stomach for it, and the cash to put up, deals can be found with 30% or more cash on cash. I have personally assisted investors with deals that provided over 100% cash on cash in all cash transactions. Rehab loans are harder to come by in the investment arena. An owner-occupant (someone looking to live in the property) can look at FHA 203k programs (I have a great lender for this), but investors are finding it harder to get loans to rehab and hard money is so tight right now that when you can find a hard money lender willing to fund a project, the rates and points will eat away a large portion of your profits.

Overall “Short” Analysis (Summary)
If you need tax incentives, make sure you can cash flow. Properties in select areas can cash flow easily with 25-30% (most lenders requirement now) and the single family market is an easier exit strategy. Look for indicators of higher potential appreciation areas. If you are just looking for straight positive cash flow (passive income), and are not as concerned about the exit, look more at duplexes because now is the time to buy right.

Contact Me with any questions or to assist in putting together a more detailed investment strategy. I look forward to working with you.

Gulfport MS is divided into 3 sections by our local MLS system and is comprised of:

• Gulfport North, also known as Orange Grove, which is roughly the area of Gulfport which is north of I-10
• Southwest Gulfport, which is the area of Gulfport west of Hwy 49 and south of I-10
• Southeast Gulfport, which is the area of Gulfport east of Hwy 49 and south of I-10

Southwest Gulfport is the slower moving area. It is comprised of mostly older homes and rentals near the SeaBee base and down to the port of Gulfport. These homes average less than $100k with a few exceptions (highrise condos, etc). There are currently 105 active listings ranging from $15k to $1.5M (penthouse condo). Over the last 30 days, there have been 4 closed homes from $10k-$100k and there are 4 pending sales in the MLS.

Southeast Gulfport is more desirable for most and encompasses the Bayou View area, which is known well for its schools as well as community involvement. There are many waterfront homes in this area as well. There are currently 346 active listings in southeast Gulfport ranging from $14,800 (downtown) to $2.6M for a waterfront estate. The average home in this area is typically between $150k and $250k. There were 20 closed transactions over the last 30 days ranging from $16k to $615k. There are currently 28 pending sales in the MLS.

North Gulfport has become the major growth area for Gulfport. With Gulfport bordered to the east by Biloxi and Long Beach to the west, the only place to grow is north – unless some more land magically appears to our south
With cheaper insurance rates north of I-10, plenty of shopping and dining, it is no wonder that it has seen a lot of growth over the past few years. North Gulfport has 432 active homes on the MLS ranging from $19,500 to $1,350,000. There have been 27 closed transactions in the past 30 days and there are currently 55 pending sales in MLS.

Contact Me for more information on Gulfport or any other real estate needs on the MS Coast. I enjoy working with buyers and sellers.

The Gulfport MS real estate market has had its ups and downs but steadily performs high coast-wide. This month was a little slow with only 47 transactions closing in the past 30 days (54 the prior month), but things are looking better.

Out of the 47 closed units, it still looks like real estate investors are a driving force as a large portion of the sales (just over 40%) were under $50k, but what is interesting is that the $150k-$225k range performed decently at over 20% of closed transactions. The highest dollar home that closed was a waterfront home fronting Bernard Bayou for $615k.

For more information on real estate in Gulfport, MS, homes for sale, or new construction in Gulfport or anywhere else on the Mississippi Coast, please contact me. I strive to put as much information out as possible and appreciate your business when you are ready to buy or sell a home.

Belvedere Place, Gulfport MS is still a prime spot for new construction homes with new homes starting in the $130k range and going up. Centrally located near Old 49 and Hwy 53, it offers easy access to Shopping at Crossroads, the Prime Factory Outlets, and the Walmart shopping center on Hwy 49 as well all the rest the North Gulfport area has to offer. With quick access to Canal Rd, it is a straight shot to the SeaBee (NCBC) base, making it a prime subdivision for military personnel.

Being north of I-10, insurance rates are more favorable, and being just out of the city limits, means that you are just outside of city taxes. All things combined, this is an excellent opportunity for residential home buyers or even investors wanting a prime rental location for single family homes.

I have another post on Belvedere Place in Gulfport, MS which was written on August 10, 2009, just over a year ago, which showcased the property for investment potential being a high-quality, appreciable subdivision with close access to pretty much everything. Let’s face it, your home is an investment whether you look at it as one or not. This subdivision has great prices on a top quality built home in a good area.

There are currently 4 active listings in Belvedere Place ranging from $134,300 to $145,500 with 1335-1644 square feet. Over the past year, there have been 16 closed transactions from $125,000 to $157,200 with 1254-1683 square feet. The homes in this subdivision sell almost as fast as the builder can get them built.

What more could you want? Contact me for more information on this community or others across the MS Coast. I enjoy working with buyers and sellers and look forward to working with you.

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