House Purchase/Rent Prices

[TheStereoGuy]

Do any of you think that house prices in or around Hattiesburg will start to fall soon with the all the lending problems that are going on? And do you think that the asking prices for rentals will also go down?

I had found me a place in Hattiesburg in May of 2005, 3br 2 bath 1650 sq ft house that was $750 a month with a $500 deposit. I was trying at the time to get a job in H'burg and was looking to move. I didn't get a job and therefore it didn't happen.

After Katrina and I lost my job here in Laurel, I found one in Hattiesburg, but figured I would wait to find a place after all the evacuee's were gone. About November of 06 I saw that same house, with $1000 deposit and $1200 a month rent. Apartments that before Katrina were $500-$550 a month were $750-$800. The only apartment complex that I didn't see the prices go up at least $125 a month were Twin Oaks ( they stayed at $735 for a 2 br. ). They were the most expensive in the area before Katrina, to being middle of the pack best deal in the area ever since.

So now with the home problems and such. Should these prices start to fall back to pre-Katrina levels? I am curious as I need to find a place in the Burg now as spending $80-$100 a week in gas isn't cutting it any more.

Anyone know of any decent rentals available?

[58ford]

How long are you going to be in the area? Because if you are gonna be here more than 5 yrs you are better off buying something than renting. Remember, if you rent your money's gone, but if you buy you get some or most of our equity back, & if the market is right, you can make a profit.

[TheStereoGuy]

I can't buy. I have the credit, but not the income to pay a $1000 house note. I will be able to rent cause I have a roomate to help split that $1000.

Not only that but I think if I were to buy I would rather stay in Jones County. Taxes are cheaper ( of course there is the $100 a week in gas for driving ) here as well.

[thrillseeker]

Stereo I have been having the same problem. I couldnt afford an apartment Pre Katrina because my income. Now I would like to be able to and cant afford one now with the lowest I have seen being $500 but that was in the HOOD.

[TheStereoGuy]

Exactly. My pay pre-Katrina was $400 a month less than I make now. Problem is, rent has gone up $600 a month since then.

I know its cheaper to buy. But I just cannot see myself doing that unless I am married and completely content my job will keep me here. If an opportunity for more money within the company doing what I am now opens istelf up then I am gone.

[thrillseeker]

Me too. I totally dont want to buy a small house and in 2 years get married and wind up loosing my shirt and pants on the house. So I guess til then I will stay with mom and keep saving what I can, which isnt much.

[TheStereoGuy]

Ironically, staying next to my parents is what is killing me fincancially. I am paying most of their bills.

[Hermione]

In that case, TSG, I hope you've looked into the possibility of claiming one or both of them as a dependent. That could save you major bucks on your taxes.

[faithram521]

TSG, have you looked in the classified section of the Hattiesburg American under houses for rent. I know I have seen a few lately that seem to be a good deal. I know there is one down the street from me that was in your price range and I believe it was two bedrooms.

[jill1179]

Have you tried Hillendale apts on Lincoln Road?

I would also suggest purchasing a mobile home.....that is what I did. I don't want to live in one forever-- we'll probably build a house in the next few years-- but financially it was the better thing to do b/c the note was lower than renting plus I own it so it isn't exactly throwing money away. When I use to have to pay lot rent, it was still lower with the note and lot rent than if I had rented. Like half the price. Even if I sell it at much lower price than buying it (b/c they depreciate) I still saved money from paying rent.

[dollfus46]

I spent 5 days in H'burg last May looking for a place to live. Nothing I'd either be caught dead in or way out of my price range. You can live what appears to be wealth up here for $700-$800 month. Gated community. Because there is so much competition with two universities and so many international companies here. So I decided to stay in Greenville and here I'll stay until I move back onto my paid for plot in Highland Cemetery.

[Imapepper]

Have you tried Hillendale apts on Lincoln Road?

I would also suggest purchasing a mobile home.....that is what I did. I don't want to live in one forever-- we'll probably build a house in the next few years-- but financially it was the better thing to do b/c the note was lower than renting plus I own it so it isn't exactly throwing money away. When I use to have to pay lot rent, it was still lower with the note and lot rent than if I had rented. Like half the price. Even if I sell it at much lower price than buying it (b/c they depreciate) I still saved money from paying rent.

That is what we did also. We purchased a used mobile home and have lived in it for little over a year and now are building a house. We will sell it and recoup our money that we paid for it, therefore we essentially saved a years worth of rent.

[dollfus46]

That is what we did also. We purchased a used mobile home and have lived in it for little over a year and now are building a house. We will sell it and recoup our money that we paid for it, therefore we essentially saved a years worth of rent.
That never occurred to me. Dayum. I don't want to buy a house at my age. And I surely don't want the mortgage payment. I have no debt. But I can buy a mobile home and live in the burg. Put it on some land away from college kids. Then Michael could rent it to college kids after I'm gone. Hmmmmmm. Somebody help me think this through. I buy a 30' trailer. I could spend time touring the U.S. Then I could live in the sucker back in Hattiesburg. Kinda camp out. Just Ian and me. Park that sucker on the lake. Fish and let Ian swim. Is that a good idea or not?:smt102

[onlyme]

Prices are ridiculous here. We are paying $1,600.00 rent for a three bedroom house ( maybe 1400 square feet but seems a lot smaller ) and the quality is extremely poor. For that kind of money you can rent a brandnew, big, top quality house with basement and/or attic just about anywhere else in the US. I have no clue why housing and food is so expensive here but I sure won't miss that once we leave.

[jkspatty]

That never occurred to me. Dayum. I don't want to buy a house at my age. And I surely don't want the mortgage payment. I have no debt. But I can buy a mobile home and live in the burg. Put it on some land away from college kids. Then Michael could rent it to college kids after I'm gone. Hmmmmmm. Somebody help me think this through. I buy a 30' trailer. I could spend time touring the U.S. Then I could live in the sucker back in Hattiesburg. Kinda camp out. Just Ian and me. Park that sucker on the lake. Fish and let Ian swim. Is that a good idea or not?:smt102


That is an excellent idea, and I can babysit Ian for you.:-D

[wilebill]

That never occurred to me. Dayum. I don't want to buy a house at my age. And I surely don't want the mortgage payment. I have no debt. But I can buy a mobile home and live in the burg. Put it on some land away from college kids. Then Michael could rent it to college kids after I'm gone. Hmmmmmm. Somebody help me think this through. I buy a 30' trailer. I could spend time touring the U.S. Then I could live in the sucker back in Hattiesburg. Kinda camp out. Just Ian and me. Park that sucker on the lake. Fish and let Ian swim. Is that a good idea or not?:smt102I've seen a lot of people who do that. Sell everything you've got, buy a motor home and tour. Park it in one of those campsites when you want to stay put for awhile, then when the urge hits you, hit the road. There are whole communities of people like that who all bond together because they all have the same lifestyle.

[dollfus46]

That is an excellent idea, and I can babysit Ian for you.:-D
I know your type. You only pretend to love me to get next to Ian.;) Oh Lordy. Nothing gay about Ian. He LOVES the ladies.

[dollfus46]

Prices are ridiculous here. We are paying $1,600.00 rent for a three bedroom house ( maybe 1400 square feet but seems a lot smaller ) and the quality is extremely poor. For that kind of money you can rent a brandnew, big, top quality house with basement and/or attic just about anywhere else in the US. I have no clue why housing and food is so expensive here but I sure won't miss that once we leave.

Of course you realize the culprit is/was Katrina. McMahans or some other old H'burg money should start building nice apartment complexes. Make a killing now. Do you realize, Onlyme, that here in Greenville I can get 1200 sq ft. Luxury apt, gated community, fireplace, moldings, w/d connections, cable, internet connections, your own garage, two swimming pools, tennis courts, fitness gym, you name it, three bedroom, probably $950 tops.

[onlyme]

Of course you realize the culprit is/was Katrina. McMahans or some other old H'burg money should start building nice apartment complexes. Make a killing now. Do you realize, Onlyme, that here in Greenville I can get 1200 sq ft. Luxury apt, gated community, fireplace, moldings, w/d connections, cable, internet connections, your own garage, two swimming pools, tennis courts, fitness gym, you name it, three bedroom, probably $950 tops.

Sadist ! :cry: