The housing slump in the real estate market is being felt across the nation, and especially in our area since the storm, but one South Mississippi businessman has come up with a way to sweeten the deal when it comes to home buying.
“Basically, we came in and gutted the house, treated it for mold, and redid everything – all new doors, cabinets, appliances, fixtures,” said Robert Eyer.
The home on Mockingbird Drive in Long Beach is one of many that remains for sale in South Mississippi. Robert Eyer, the owner of the home and also head of Gulf Coast Home Buyers, says he’s asking fair market value for the house, but there haven’t been many people interested.
“Since Katrina, the market values have increased, but I don’t think the wages have increased to substantiate the market prices. That’s got to hurt a little bit,” Eyer said.
The increased cost of insurance since Katrina has also been a hurdle for many potential home-buyers and has kept a number of open houses in our area empty.
“That has definitely affected everybody on the coast, and it doesn’t matter if you’re north of the interstate or south of the interstate. It’s still fairly high,” Eyer said.
While state lawmakers are taking some measures to help relieve the high cost of insurance, Eyer has come up with a new way to draw in potential home buyers. He’s throwing a new car into the deal.
“We’re just trying something a little more dramatic. Let’s just give to the owner of this house a brand new 2007 Ford Focus,” he said.
Eyer hopes this package deal will suit some family and help offset the financial obstacles people are facing when it comes to buying a home.
According to Forbes Magazine, Mississippi is the fifth most expensive state to live in when it comes to home insurance. The average annual premium in the state is 907 dollars.
By Toni Miles