The DeLois Smith All Star Team

The Market: May 2007

How exciting to celebrate yet another "biggest ever" birthday on May 3rd! As long as our families, friends, and co-workers make us feel appreciated, birthdays are wonderful. Past client, Loretta Tullis from Alabama, whose Hattiesburg home I sold ten years ago, literally blew me away by remembering my birthday AND remembering that my mother was born in 1908 AND that I would appreciate a 1908 Sears Roebuck Catalog in perfect condition! How amazing!

The team surprised me with a "high tec" digital photo frame and pampered me all day! My granddaughters, Heather and Sarah, treated me to my first ever facial - how relaxing! The calls and cards were all so wonderful! Already, I'm looking forward to a 2008 "biggest ever" birthday!

The Hattiesburg area market "good news" is that the number of homes sold (576 versus 573) is keeping pace with our highest ever year in 2006. Our team has closed 107 year-to-date versus 100 at this date last year. Currently, our team has been involved with 29% of sales over $250,000 in Oak Grove; 35% of sales of $200,000 in Petal; 45% of sales over $250,000 in Petal; and 57% of sales over $350,000 in Oak Grove.

The most challenging aspect of the current market is the 43% more active properties on the market than 12 months ago. Factors influencing the changes are: (1) An abundance of new home products available. There are 75 homes on the market in Oak Grove from $235-285K. Fifty-one are new constructions; (2) Softer demand from post-Katrina buyers. Some of those who bought in our area are now selling; (3) Foreclosures and sub-prime lending. According to the National Home Builders survey in March, one-third of builders said tightening lending standards have taken a toll on their home sales; (4) Increases in homeowners insurance and property taxes. On most closings, I see a 40% or more increase on the total monthly escrow for taxes and insurances; and (5) Greater caution by appraisers and underwriters.

As you and your family enjoy Mother's Day, graduations, weddings, memorial services, Father's Day, and other special events, make sure you are celebrating the "biggest and best ever!"

With much gratitude,

DeLois

The Market: February 2007

Can you believe it is already February? Even now 2007 has presented new opportunities to: (1) Expand our geographical marketing areas; (2) Add REALTOR® Associate Sharon Rome as a full-time Buyer Specialist; (3) Add multi-talented REALTOR® Associate Amelia Watkins to our team as Closing Coordinator/Business Administrator; (4) Include the specialized marketing talents of our Communication Specialist, Dana Grubb, to focus on corporate marketing; and (5) Expand the role of team personnel managment to our Gen-Xer, "top performer" Adam Watkins, who became a Broker Associate in 2005.

Here are some current facts which we would like you, our past clients and friends, to know. According to David Lereah, National Association of REALTORS® chief economist: "The current interest rate environment and housing inventory levels present a window of opportunity for potential buyers."

The chart below demonstrates our Hattiesburg area average price against the average for the total U.S. and the South as a region.

Year	U.S.	South	Hattiesburg
2003	$222,200	$195,800	$121,595
2004	$244,400	$215,600	$125,577
2005	$266,600	$231,700	$138,271
2006	$268,900	$230,500	$156,201

A major factor is the remaining open window of historically low, low interest rates (which is becoming shorter). A second even greater factor is our long-term modest appreciation of approximately 3% annually until teh Katrina-boost of approximately 10%.

The total number of homes sold in the Hattiesburg area actually decreased the past year, from 2,020 in 2005 to 1,794 in 2006. My prediction for the Hattiesburg area is the second highest year ever for 2007 with closer to the 2005 number. Nationally, home sales are predicted to be the third highest year in 2007.

Now is the time to make your move if your primary home does not meet your current family needs. Our mission still remains clear as we forge ahead into 2007 - to bring added value to you, our past, present, and future clients. Again, we say Thanks! Thanks! Thanks! for allowing us to serve you.

With every good wish,

DeLois Smith

2006 in Review

Our 2006 year has been a year of our nation’s greatest emphasis on the significance of housing; so much that our recent Nardi Gras REALTORS® Convention attracted our nation’s 41st and 42nd presidents. The nation’s largest trade show was billed as REnewing, REconnecting, and REenergizing.

President George H.W. Bush congratulated REALTORS® for adding value to our communities, raising $18 million through the Bush-Clinton Katrina Fund, building 54 homes for Katrina victims through Habitat for Humanity, and providing housing services to our nation and beyond. The former president also shared that his and Barbara’s first of their thirty homes was a duplex purchased in West Texas during the 1950’s for $10,000. President Bill Clinton shared that his and Hilary’s first home was a yellow cottage in Arkansas bought during the 1960’s for $20,500.

Both presidents acknowledged that real estate is an undervalued investment in the South, even though about half of the nation is experiencing some devaluing to balance much of the double digit appreciation of recent years. The Hattiesburg area has experienced on average a solid 10% gain over 2006. There is some seasonal and some general market cooling occuring during the current 4th quarter.

As we reflect on our blessings of 2006, we are honored to have had a major role in meeting the housing needs of over 300 area families. We are grateful to hundreds of you who have supported our efforts with your warm and kind words of encouragement. We wish each of you a blessed, beautiful, healthy, an d joyous Christmas.

Bringing You Home,

DeLois and Team