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Thinking of Buying a Home in Ocean Springs Mississippi? Heres Five First Time Buyer Mistakes and How to Avoid them. | Print |

Buying a home in Ocean Springs Mississippi for the first time is an exciting process. At the same time, it is one that is filled with steps and details. Deciding which home to purchase and which mortgage to borrow are decisions that have lasting consequences. As you embark upon your home buying excursion, keep in mind these common mistakes of first time home buyers.

Purchasing a home too fast. Perhaps it's the excitement of purchasing the first time. Or maybe it's a fear that the "perfect" home in Ocean Springs Mississippi will be purchased by another borrower. Whatever the reason, many first time home buyers make the mistake of rushing through the home purchasing process. They tend to spend too little time searching for the right home in Ocean Springs Mississippi. Often first time homebuyers end up dissatisfied with the home they've purchased.

 

Buying too much home. Another mistake made by first time home buyers is purchasing a home that's right at, or even a little beyond, their limits. Many times this leaves the new homeowner with little or no disposable income. What good is a large home if you are unable to furnish it? None at all. Purchasing a smaller home and leaving yourself some wiggle room is much better than eating up your monthly income with mortgage payment.

 

Holding out for the dream home. First time home buyers might pass up several houses they like because they believe that there is a better house out there for them - one that is complete with everything they want and need. In the meantime, houses that have most of the items they are looking for are being taken off the market by other buyers. If a significant period of time passes, market prices could go up and the first time home buyer ends up paying more for a home than expected. Even worse, the buyer ends up so worn out from house shopping that he, or she, ends up settling.

 

Not getting mortgage pre-approval. A pre-approval will do wonders for the first time home buyer's shopping experience. Being pre-approved for a mortgage gives you an idea of what you will be able to pay for a home. Some first time home buyers, not realizing the value, forgo pre-approval to get a head start on home shopping. What's the worst that could happen? You could find a home you absolutely love and fail to obtain financing for it.

 

Not comparing mortgages. Shopping around for a mortgage is just as important as shopping around for the home. Many first time home buyers do not realize that mortgages from different lenders have different costs and different terms. There are so many cost factors of a mortgage that can vary from one lender to the next. It only makes sense to shop around for the best deal.

 

Be informed of the steps that you must take and the decisions you must make as a first time home buyer in [Profilr.market]. Information and education are the best tools to equip you in the process of purchasing your first home in [Profile,market].

There is a lot of free information available to you about buying, selling or investing in Ocean Springs Mississippi real estate. For complete information about the Ocean Springs Mississippi real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything RoKaproperty.com" mce_href="RoKaproperty.com">Ocean Springs Mississippi real estate.

 
 
Coast job market may be one of best in nation | Print |

Coast job market may be one of best in nation

SUN HERALD

The Gulfport-Biloxi area is expected to be one of the best places in the country to keep or find a job during the first quarter of 2010.

The new Manpower Employment Outlook Survey ranked the Gulfport-Biloxi Metropolitan Statistical Area tied for the ninth-strongest employment outlook in the country. The MSA consists of Harrison, Hancock and Stone counties.

The survey showed 11 percent of area companies interviewed plan to hire more employees from January to March 2010. Two percent expect to reduce their payrolls, 83 percent expect to maintain their current staff levels and 4 percent are uncertain of their hiring plans.

“Compared with the previous quarter when 12 percent of companies interviewed intended to add employees, and 9 percent planned to reduce staff levels, area hiring levels appear to be stronger,” said Manpower representative Leslie Dean. Nationwide 12 percent expect to increase staff in the first quarter and 12 percent expect to reduce staff.

The the results are encouraging, but employers are slightly less optimistic about hiring than a year ago.

The third-quarter survey by the Gulf Coast Business Council reflected an increase in Coast employers expecting to hire, said GCBC President Brian Sanderson. The national figures show South Mississippi’s economy is stronger than many areas of the country, and he said future construction contracts are up in Harrison and Hancock counties and jobs are being added in retail.

Manpower said job prospects in the Gulfport-Biloxi area appear best in the categories of durable-goods manufacturing, transportation and utilities, wholesale and retail trade, information, professional and business services, education and health services, leisure and hospitality and other services. Employers in financial activities plan to reduce staffing levels.

 
Great news For MS, $40 million for State Wind Pool | Print |

Great News for Mississippi.  The Mississippi House of Representatives passed (HB1697) which would place an additional $20 million into the State Wind Pool.    This bill now goes to conference were House and Senate negotiators will finalize the legislation and MAR will continue to lobby for its passage. 

In the wake of Katrina, private insurance market left the Mississippi Gulf Coast leaving tens of thousands of households forced to rely on the wind pool for insurance.
 
By funding the Wind Pool with a minimum of $20 million, the wind pool rates will be reduced which will afford long term solutions to be employed.  Subsidizing the wind pool is only a short term plan that will hopefully stimulate the economy along the Mississippi Gulf Coast for two to three years while long term solutions are cultivated and the private market is given additional time to return.  If this occurs, the recovery efforts along the Mississippi Gulf Coast can progress more quickly and the Gulf Coast will continue to generate revenues that help drive the overall Mississippi economy.
 
Great news For MS, $40 million for State Wind Pool | Print |

Great News for Mississippi.  The Mississippi House of Representatives passed (HB1697) which would place an additional $20 million into the State Wind Pool.    This bill now goes to conference were House and Senate negotiators will finalize the legislation and MAR will continue to lobby for its passage. 

In the wake of Katrina, private insurance market left the Mississippi Gulf Coast leaving tens of thousands of households forced to rely on the wind pool for insurance.
 
By funding the Wind Pool with a minimum of $20 million, the wind pool rates will be reduced which will afford long term solutions to be employed.  Subsidizing the wind pool is only a short term plan that will hopefully stimulate the economy along the Mississippi Gulf Coast for two to three years while long term solutions are cultivated and the private market is given additional time to return.  If this occurs, the recovery efforts along the Mississippi Gulf Coast can progress more quickly and the Gulf Coast will continue to generate revenues that help drive the overall Mississippi economy.
 
Real Estate Market Review | Print |

One of the many dire predictions done these past few months by many Ocean Springs, Mississippi  ‘bubbleologists’ out there -


that is all those who indulge in the contemplation of bubbles in the Ocean Springs, Mississippi real estate market of all sizes and colors, whether real or imaginary, coming our way - was that by now real estate markets everywhere would be inundated and swept away by a tsunami of foreclosures of apocalyptic proportions.

The general rationale among those specializing in the fine art of staring at crystal balls (or perhaps at several empty bottles of rum) was that the steady increase in interest rates, the consequence of a tightening monetary policy implemented by the Fed since mid-2004, would have led by now to a collapse of the adjustable-rate mortgages (ARMs) market, since consumers could not possibly cope with the increased monthly payments. This, in turn, would dramatically increase mortgage defaults and foreclosures, with the end result that real estate markets everywhere would be flooded with excess inventory at deflated prices, thus causing markets to crash - the tsunami I was talking about.

Last Updated ( Wednesday, 06 August 2008 )
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