All About Mississippi Real Estate

By Pat Starnes-Front Gate Realty, 601-991-2900 Office; 601-278-4513 Cell
(Front Gate Real Estate)
August and September 2021 have been a whirlwind of real estate activity. Many of you enjoy Central Mississippi's weekly report, so I am sharing the stats so you can tell at a glance how the month of August shaped up. The graph shows the number of listings taken each week per county, the number of closings, median sales price, and list to sale ratios.Also shown is the supply of homes on the market for sale, the "inventory", and if no other homes came on the market, the "supply" of homes before we are completely sold out. Inventory changes constantly. Realtors check the hotsheet daily to see what new listings are available. It isn't unusual for a home to sell the first day with multiple offers. If a buyer says they can only look on the weekend, but a new listing hits the market on Tuesday...
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By Pat Starnes-Front Gate Realty, 601-991-2900 Office; 601-278-4513 Cell
(Front Gate Real Estate)
What a busy week it has been in real estate! Listings, closings, negotiations, and more of the same this weekend. So while the weekly market update is late getting to you, here it is. The graphic above shows  the closings for Hinds, Madison, and Rankin counties in Central MS for the week of July 30 - August 5. The number of closings appear on the left; median sales price, current inventory, list to sale price ratio, and supply of homes are shown on the right. Keep in mind this is a snapshot of one weeks performance. You would want to look back at previous weeks to see the trends, and some of the prior weekly reports are shown below. It is important to note that inventory has ticked up ever so slightly, with a supply between 1 to 1 1/2 months. This remains a strong sellers market. I'd li...
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By Pat Starnes-Front Gate Realty, 601-991-2900 Office; 601-278-4513 Cell
(Front Gate Real Estate)
In the heart of Flowood, a row of quiet, unassuming townhomes sit tucked away from the hustle and bustle of city life. You might have driven past this community numerous times but never noticed the gated entrance. Behind the gate are 16 townhomes built in 2008. The units feature 2 bedrooms, 2.5 bathrooms, a single car garage, laundry room, family room with fireplace, and a fully equipped, stainless and granite kitchen. Each unit has a private fenced patio and small yard.The HOA maintains the front yards and pays for neighborhood lighting and gate maintenance. The setting is secluded and peaceful, yet minutes from shopping, dining, schools, and churches. You'll find Braeburn Court on Luckney Road, directly across the street from The Ivy Venue. A unit is currently for sale at Braeburn Cou...
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By Pat Starnes-Front Gate Realty, 601-991-2900 Office; 601-278-4513 Cell
(Front Gate Real Estate)
Looking for a home with a golf course view? This 5 Bedroom, 3.5 Bath home is located on the 14th green of Castlewoods in NW Rankin County. With over 3100 square feet, this home has room to spread out. The family room is spacious and features a brick fireplace with gas logs, and has lots of built-in cabinetry for storage. You'll notice quality, solid wood cabinets in the kitchen with granite countertops, stainless appliances, and a built-in computer desk.Along with the main bedroom and bath, new tiled shower, whirlpool tub, double sinks, and walk-in closets, there are 4 additional bedrooms, and a total of 3.5 baths. The 2-year old roof has a transferrable warranty! The feature you may love the most could be the multi-purpose game room. If you are an outdoor person, you're sure to love th...
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By Pat Starnes-Front Gate Realty, 601-991-2900 Office; 601-278-4513 Cell
(Front Gate Real Estate)
Central MS Realtors has published the closing information for the last week of July 2021. The report runs a week behind so the last two days of the month will be picked up on next weeks report. The volume of closings is up as expected the last week of the month. Many home buyers choose to close as late in the month as possible so you'll notice a sharp increase toward the end of any given month. Inventory in all three Central MS counties remains low, and homes are selling at an average of 100% of list price.  Look at the supply of homes. There is less than one months inventory. This equates to a strong sellers market with low inventory, homes that sell fast with multiple offers, at list price or above. I must stress the importance of hiring a Realtor to represent you in a sellers market....
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By Pat Starnes-Front Gate Realty, 601-991-2900 Office; 601-278-4513 Cell
(Front Gate Real Estate)
I hosted an Open House today (Sunday) in my neighborhood. You might wonder why I'd have an open house, since the market is hot and homes sell quickly. Here's why:1. The house is in my neighborhood. I am one of several Realtors in my neighborhood, all of whom have good reputations, but I want to be recognized as one of the TOP Realtors in my neighborhood.  If an opportunity presents itself, it gives me the chance to be visible, active, and be seen as the neighborhood professional.2. Open Houses are a good way to attract buyers. I posted in advance on the neighborhood Facebook page, and invited neighbors and prospective clients. I put my Open House signs out the day before to get extra exposure, and gathered marketing materials, flyers, disclosures, etc to be ready for Open House day.3. F...
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By Pat Starnes-Front Gate Realty, 601-991-2900 Office; 601-278-4513 Cell
(Front Gate Real Estate)
The statistics are in for the 3rd week of July, 2021. You may wonder how this data affects you if you are looking to buy or sell a home in Central MS. Let's see what the numbers mean.Our primary market area is Hinds, Rankin, and Madison County. You can review the stats for the particular area you are interested in. While I'm not a math wiz (and you may not be either), the numbers are revealing.Compare the number of closings vs the number of new listings. In each case, the weekly closings exceed the number of new listings. This tells me homes are selling as fast as they hit the market.Look at the supply of homes. There is less than one months inventory. This equates to a strong sellers market with low inventory, homes that sell fast with multiple offers, at list price or above.I must str...
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By Pat Starnes-Front Gate Realty, 601-991-2900 Office; 601-278-4513 Cell
(Front Gate Real Estate)
Closings have been reported for the second week of July for the three primary counties in Central MS. Here's a look at the numbers:You can tell by the chart above that Hinds County (Jackson, Clinton, Byram, and Terry) had the most closings, coming in with 60 closed sales for the week, followed closely by Rankin County (Brandon, Flowood, and Pearl) with 54 closed sales. Madison County had 27 closed sales. Although Madison County had the fewest number of closings, they led with the highest median price range, $276,000.All three counties had an average list to sales price ratio of 100%, and each county has less than a one month supply of inventory.Not all closings are published through the Multiple Listing Service of Central MS. Some new construction closings were never registered through ...
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By Pat Starnes-Front Gate Realty, 601-991-2900 Office; 601-278-4513 Cell
(Front Gate Real Estate)
Here's a glance at Central MS real estate statistics for last week. Inventory remains low as the sellers market continues. Sales prices ticked up from last week and homes are selling at 98-100% of list price.Inventory (overall supply) is up slightly but we are a long way from reaching a neutral market.What constitutes a sellers market? A sellers market is defined as a shortage of available homes, thus prices remain high and homes sell quickly. You'll see a buyers market when homes are plentiful. It's the basic law of supply and demand.WHAT DOES IT ALL MEAN?If you are a seller, it means more buyers are competing for your home, which can drive the price up through multiple offers and a shorter time on the market.If you are a buyer, interest rates are phenominally low, but you'll need a sa...
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By Pat Starnes-Front Gate Realty, 601-991-2900 Office; 601-278-4513 Cell
(Front Gate Real Estate)
The statistics are in for the last week of June, 2021. You'll notice a higher number of closings in Central MS for the end of June compared to the previous weeks statistics.  More homes close at the end of the month so it makes sense the numbers reflect that data.This snapshot is provided by Central MS Realtors and reflects the closings from June 25 - July 1.In this graphic, Hinds County (Jackson, Byram, Terry, Clinton) had 67 closed sales with a median sales price of $178,500 (up from 47 closings last week). Madison County (Madison, Ridgeland, Canton, etc) had 55 closings (up from 39 last week) with a median sales price of $288,000. Rankin County, which includes Pearl, Brandon, Flowood, Florence, and others, came in strong with 84 closed sales (vs 57 the week before) and a median sales...
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By Pat Starnes-Front Gate Realty, 601-991-2900 Office; 601-278-4513 Cell
(Front Gate Real Estate)
Most of you know we are in a strong sellers market. You hear it on the news and from your friends, but what does it mean if you are a homebuyer or seller in the Central MS marketplace?Let's talk numbers.The statistics are provided by Central MS Realtors on a weekly basis. We will discuss the sales, active listings, etc., for June 18-24, 2021. In this graphic, Hinds County (Jackson, Byram, Terry, Clinton) had 47 closed sales with a median sales price of $215,000. Madison County (Madison, Ridgeland, Canton, etc) had 39 closings with a median sales price of $285,000. Rankin County, which includes Pearl, Brandon, Flowood, Florence, and others, came in strong with 57 closed sales and a median sales price of $217,500.Now look at the list to sales price ratios. Hinds County homes sold at a 99....
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By Pat Starnes-Front Gate Realty, 601-991-2900 Office; 601-278-4513 Cell
(Front Gate Real Estate)
The 2021 real estate market has been HOT across the country, and Central Mississippi is no exception. This 3 Bedroom, 2 Bath home located in Castlewoods Subdivision surely won't last long.Welcome to 850 Willow Grande Circle. This home has been lovingly maintained by the original owners since 2007. The home has many custom features, including high ceilings, corner fireplace with gas logs, crown molding, and side entry garage. The primary bathroom has double sinks, a separate tiled shower, whirlpool tub, and glass block window. Engineered hardwood runs throughout the family room, kitchen, breakfast area and master bedroom.You will love the large fenced yard with a covered patio, extended brick pavers, and swing with arbor.Castlewoods is a golf course community. Separate membership is avai...
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By Pat Starnes-Front Gate Realty, 601-991-2900 Office; 601-278-4513 Cell
(Front Gate Real Estate)
WATERFRONT! Fabulous waterfront living and a fisherman's dream located on a picturesque 3.51 acres in Madison County. Custom built for a multi-generational household. The main home has 3 bedroom, 2 1/2 bath, the attached in-law suite contains 2 bedrooms and one bath, plus full kitchen and beautiful hardwood flooring. There are two screened porches and water views from throughout the home. This property was built with TONS of storage, includes a huge laundry room with lots of cabinetry, a pantry that doubles as a safe room, and additional storage throughout the home. One bay of the three car garage is oversized, long enough to hold a generous sized boat of your choice. There is plenty of paved parking for your guests, plus a circular driveway. Lakefront property in Madison County 3.51 ac...
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By Pat Starnes-Front Gate Realty, 601-991-2900 Office; 601-278-4513 Cell
(Front Gate Real Estate)
Hello friends! The first half of 2020 is almost behind us. Part of the year is a blur due to COVID-19. Despite the blur, my digital calendar reminds me of what I've been up to: The year started off with a bang. January and February were filled with buyers, sellers, inspections, and closings. I stayed busy with volunteer activities, networking meetings, and seminars. Plus, I completed my Seniors Real Estate Specialist designation at the end of February.   March, as the expression goes, came in like a lion. Surrounding states were experiencing coronavirus outbreaks. Spring break was in full force in the south, and many residents were vacationing on the beaches and mountains. Mississippi's first case was diagnosed March 12. Our governor declared a state of emergency March 14. Everything fr...
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By Pat Starnes-Front Gate Realty, 601-991-2900 Office; 601-278-4513 Cell
(Front Gate Real Estate)
When a client writes a recommendation for your business, it is both personally and professionally rewarding. The seller had moved out of state when he contacted me, so we met over Thanksgiving weekend. He needed to make repairs that he wasn't thrilled with having to make, but it made the difference between sitting on the market stagnant, or receiving multiple offers. He did everything I asked of him. Here's what my client said:  Pat was the second agent I worked with after attempting to sell my property for six months with another agent came to frustrating results.To summarize, Pat sold the property in less than two months and I couldn't be happier to have selected her! Here is what you can expect from Pat: • Proactive, go-getter o Within first two weeks of signing with her, she staged ...
Comments 13
By Pat Starnes-Front Gate Realty, 601-991-2900 Office; 601-278-4513 Cell
(Front Gate Real Estate)
Gathered around the dinner table, my family started a lively discussion about the names of each generation. I'm a proud Baby Boomer, and my son is a Millenial (although he would argue he's a Gen X) and the kids around the table tried to decide where they fit in, whether it was Millenial (Gen Y), Gen Z, or Generation Alpha.So, as I began studying for my SRES Designation (Seniors Real Estate Specialist), I was fascinated to review the dates of birth and characteristics of each generation, and how these groups relate to buying or selling real estate. The GI Generation, also known as the Greatest Generation, were those born between 1901-1924. These were the teenagers during the Great Depression and they served during WWII. Their numbers are dwindling as this age group is over the age of 95....
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By FELICIA MCDONALD, IRS Tax Specialist Serving Memphis, TN Metro Area
(McDonald Tax Consulting)
It’s August in Memphis, TN, which means it’s HOT, it’s back-to-school for the students, and it’s time for some football! The Lake Cormorant High School Varsity Football Team (Gators) kicks off the season with a Jamboree against Christian Brothers High School (Purple Wave) tonight, August 16th at 7pm, in Memphis, TN.  My son, Randy McDonald, Jr. (#74), begins his senior year with the LCHS Gators playing offensive right tackle. He has been playing football since he was 5. I was not a fan of football until he began playing, but I quickly became the epitome of a “football mom.” I love the game now, and I am excited as he begins his last year of high school playing the sport that he loves. McDonald Tax Consulting and the LCHS Football Boosters proudly supports “dem Gators!!”  If you are in t...
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By Joseph Damiens, Tax Law Firm
(Damiens Law Firm, PLLC)
As a tax attorney in Ridgeland, Mississippi, we work with Mississippi residents to resolve both civil and criminal tax debt cases. I’m just going to give you an overview of what a typical collections case might look like and the process I use to resolve a tax debt case with the IRS.    Our first step is to figure out what the IRS already knows about you.  We want to know what the IRS knows; we’re going to investigate your tax transcripts.  We will check past W2s, 1099s, notices from the IRS, statute of limitations issues, bankruptcy options, and several other timelines, the whole gamut.   What we can find in this initial investigation is going to drive the rest of your case, so it is essential to get as much info on the front end as we possibly can.  Step 2 is to make sure you are in co...
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By Joseph Damiens, Tax Law Firm
(Damiens Law Firm, PLLC)
Since I am a Mississippi tax attorney and my firm deals in civil and criminal taxpayer representation before the IRS and Mississippi Department of Revenue, a state or federal tax lien is something we deal with routinely. In fact, the majority of our clients do not find us until an IRS tax lien has been filed. Unfortunately, this means a large number of our clients are trying to sell the property to resolve their tax issues. Many also find the process may not be as simple as they first believe. But, the reality is, the IRS and/or Mississippi Department of Revenue will be more than happy to allow the house or property to be sold. The catch, the IRS or DOR wants to walk away with the money from the sale to apply against your tax debt, which was secured by the tax lien.   So, assume the ta...
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By Joseph Damiens, Tax Law Firm
(Damiens Law Firm, PLLC)
If you find yourself on the receiving end of an IRS tax lien, you’ll soon find the IRS takes a very firm stance, which can cause issues for the taxpayers. In general, the IRS will not remove an IRS tax lien without prompt action for the taxpayer, and in the meantime, the taxpayer's credit score and other economic factors will feel the brunt of the lien. An IRS tax lien can be removed under certain circumstances, but most will revolve around whether the IRS has a likelihood of collection tax revenue. The IRS has done its research, and the IRS knows that a tax lien is one of the best options for the IRS to collect a tax debt.  If you find yourself in this situation, then you should consider consulting a Mississippi tax attorney.   One way in which to deal with an IRS tax lien is to explo...
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