Real Estate Investors from all over the United States are flocking to the Mississippi Gulf Coast, especially areas like Gulfport, Biloxi, Ocean Springs, Pass Christian, and Long Beach, MS.
After the impact of Hurricane Katrina, there is an overwhelming amount of homes available for purchase at pennies on the dollar compared to their estimated market value. An investor with about $20,000 and a little spare time could easily make a $40k - $50k profit in matter of months.
The Mississippi Gulf Coast is an area that will be growing considerably over the coming years. With Coast restructuring and the "Go-Zone" act, property values will skyrocket over the next few years, much in the same way they did in the early 90's after the casinos started setting anchor on the Mississippi Gulf Coast.
Gulfport and Biloxi will be the greatest impact areas, and while Ocean Springs has been on the rise for years, this town will consider to see growth and increased property values. Pass Christian, Long Beach, and Bay St. Louis Mississippi will be close behind as well.
As much as the storm (Katrina) hurt a lot of people, and our hearts go out to all of them, it did provide one good detail. It allowed MS Coast officials to see "the light at the end of the tunnel" and with a major coastal restructuring being innevitable, the future of the Mississippi Gulf Coast is looking better all the time.
The real estate market in areas like Gulfport, Biloxi, as well as Pass Christian and Long Beach, have already seen a signiifcant positive impact. While there are many homes that are being sold for pennies on the dollar (those that need work), the homes that received minimal damage or htose that have been repaired already are selling for as much as 20% more than their "pre-storm value" and continue to escalate in price.
About the Author:
Damion Flynn:
Damion is the Broker/Owner of Viking Realty in Gulfport, MS. Damion is a Realtor, GRI, & e-PRO designated broker and deals in all aspects of real estate including both buyer and seller representation, commercial, land & development, and property management.
If you have any real estate business on the Mississippi Gulf Coast including areas such as Gulfport, Biloxi, Ocean Springs, Long Beach, and Pass Christian, please check out the Viking Realty Website at Viking Realty
Investor Explosion - Real Estate Market Boom
