The DeLois Smith All Star Team

Petal at a Glance: May 2007

Well, it's been a very eventful Spring to say the least. By the time you read this, Amelia and I will have returned from our annual mission trip to Nicaragua, Central America. We began making these trips the first year we were married. I'd been once before and wanted Amelia to share the experience. After the first year, I didn't know if she'd ever want to return. Now, four years later, she's made the trip every year.

Carterville Baptist Church, where we are active members, sponsors trips almost annually through the Baptist Medical and Dental Mission International and have done so for some 30 years. Our pastor, Leland Hogan, has led these trips and, because of his experience, the trips usually go smoothly. It's a very humbling experience to say the least. As a blessed people, we often forget that not all cultures provide the same "material" opportunities. However, we are provided with similar spiritual opportunities. The spirit of the Nicaraguan people is a sweet one, and we anticipate that this experience will remind us of this. We hope our service is one that is amplified in the village of Le'Libertad, where we will serve.

Market wise, we are definitely settling into a pace that's more normal and less affected by Hurricane Katrina. Largely, this Katrina effect has dissipated. There will obviously be long-term effects, but they'll likely be more subtle. In the past several weeks, buyer traffic has increased. We're experiencing strong activity under $200K and moderately strong activity over $300/$350K. An area where we're experiencing oversupply has been in the $200K to $300K range. The next four to six months should provide buyers to consume a fair amount of this product.

In Petal, things are performing above average compared to some of our other market pockets, but areas of oversupply also occur as noted in the market update. The important thing to note is that on the whole a lot of long-term projects are in place to provide for the demand into the next decade. Three projects that will affect the market in Petal: (1) Richton Salt Dome; (2) Howard Technology Park in Ellisville; and (3) USM commercialization (Van Hook Golf Course off I-59). If you use a map, you'll notice that these three sites form a triangle; Petal is situated in the middle of that triangle. What a wonderful place to own property!

Many of you have already been reading our team blog that we began in January. As part of this effort, I began a blog as well. I chronicle real estate happenings as well as items of interest to me both personally and professionally. You're invited to take part in the conversation. You can log onto DeLoisSmith.com and hit "Online Blog" and locate the link to my site. I look forward to hearing from you.

All the best,

Adam

Petal at a Glance: March 2007

A little taste of Spring is in the air...and I'm excited! Winter has typically been my least favorite season; except for the time between Thanksgiving and New Years, I generally prefer warmer weather. Having some days of sunshine and temps in the 70s have been good for my soul. How about you?

Time continues to fly. So many projects and endeavors are on the drawing board for our company and for me. As my responsibilities grow with the team here, so do other items that you might be interested to know. This spring I plan to begin the clearing of roads on 34 acres that Amelia and I purchased on Hillcrest Loop in Petal. This residential development will be called Selah Falls. "Selah" means to pause, rest, or ponder. It is a term used throughout the book of Psalms, and it communicates the type of environment we aim to create at Selah Falls.

The location of the property on Hillcrest Loop, just up the hill from the Petal Family YMCA, gives excellent access to the Evelyn Gandy Parkway (within two minutes) as well as the revampled Petal City Park (which is under construction). The neighborhood will be geared toward working professionals, empty nesters, and/or retirees and will feature high styled homes on 1/4 acre lots. Lawn maintenance will be handled for residents, and a landscaped waterfall entrance is planned.

Curbed and guttered streets, underground utilities and sidewalks are other neighborhood amenities. We are very close to finalizing plans and I will keep you posted. I anticipate lot prices to be somewhere in the mid-$20s to mid-$30s and homes to fall in the $155K to $245K range. If you would like to be placed on an e-mail list for details, email me at adamwatkins@comcast.net. As information is available, I will let you know.

You may have heard of the addition of my bride, Amelia, to the team. Amelia is settling in just fine and is handling a multitude of details for all of us here. In addition to orchestrating our monthly closing calendar, she is also hard at work with me on the development as well as long-term planning for the team. I've been uniquely blessed with an ability to have a working relationship with my spouse; this works for some couples better than others. For me, it's great!

Buyer traffic is increasing as spring approaches. Thankfully we have more product available now than we did this time last year. This does, however, mean that the marketing time will likely extend. On the whole our inventories are back up to pre-Katrina levels, but buyer traffic is still strong. As insurance claims finally become settled for our Coastal residents, I belive we can anticipate a "Katrina echo" in the next eight to 12 months. View our website www.DeLoisSmith.com where you can search the entire Greater Hattiesburg Multiple Listing System.

Thank you for your trust and loyalty. Our team is truly blessed to serve some of the finest people in our community.

All the best - Adam