Pros

1. Financial Investment: Given the gloomy news on foreclosure rates across the country, it is easy to forget that buying Brandon MS real estate is also a means of saving and investing.  The money you pay in rent to your landlord goes to your landlord; the money you put toward a mortgage goes toward building equity in your home.
2. Pride of Ownership: By buying a home, you will be able to paint the interior walls any color, renovate to your heart’s content, put nails in the walls and know that it is truly your territory. As a homeowner, you have a level of control over your environment that renters lack.
3. Putting Down Roots: Purchasing Brandon MS real estate is a commitment to a community,  akin to staking a flag in the ground.  You’re not just passing through, if you own your own home.  Most mortgages are 15 to 30 years.  Certainly, you can sell before that time is up, but with closing and moving costs and an uncertain market, the era of flipping houses for fun and profit is at a close. Buying your first home may involve considerations on other long-term decisions such as where you want to raise your children.

Cons

1. Additional Expenses: Even if the mortgage you secure on your home is less than your current rent, home ownership comes with a lot of extra bills.  You may not have considered the cost of yearly real estate taxes, insurance, repairs, and maintenance.  If your water heater dies as a renter, your landlord is required to replace it.  As a homeowner, you’re looking at the time and expense of getting it replaced yourself.
2. Less Flexibility: Rental leases often include provisions for leaving before the termination of the lease.  So, if you’ve decided to accept a job offer in Paris, while you might lose some money in security deposits, you can sever your connection relatively easily. That’s not the case with a mortgage.  You are responsible for the payment on the mortgage whether you live in your home, rent it out while you’re in Paris or leave it vacant. Buying Brandon MS real estate is a serious, long-term commitment.
3. Less Time: With most apartments, someone else is raking the leaves, shoveling the snow, mowing the lawn, and replacing that broken water heater.  As a homeowner, those duties would fall to you or someone you hire to tend to those issues.

Whether you’re ready to stop renting and buy a home or you need more information before taking the plunge, I can help. Give me a call today at 601-942-3392 or email me at Paula@KeyTrustProperties.com.

Paula Ricks Broker/Owner, REALTOR®
220 W Jackson St, Suite 200, Ridgeland MS 39157
601-942-3392
www.PaulaRicks.com

Follow these five tips to get the Brandon MS home of your dreams with less hassle and at a great price:

1. List your home before looking for another home. Contracts contingent on selling your existing home complicate the buying process and reduce your chance of getting a great bargain. Sellers are often unwilling to give any concessions if they have to wait for you to sell your home.
2. Get pre-approved for a loan.  Sellers prefer to negotiate with buyers who are pre-approved for a loan large enough to purchase their home.  The pre-approval may save you money because you’ll have more leverage to negotiate a lower price.  Additionally, you’ll save time by looking exclusively at homes within your price range.
3. Ignore easy-to-change design issues. If the shag carpeting isn’t your style, you can easily change it after purchasing the home. Don’t like wallpaper? Remove it after you own the home. Envision what the home can look like with your personal touch.
4. Get a professional home inspection. Buying a home is one of the biggest purchases you will ever make, so be sure the structure is in good condition. During a home inspection, a qualified inspector takes a thorough, unbiased look at the property. The home inspection contingency is one you do want in your contract.
5. Make a serious offer. Listen to the price guidance your real estate agent provides and make an offer that won’t offend the seller. Most sellers expect an offer lower than the asking price, but they don’t want to feel insulted. You’ll get much closer to what you want to pay for the house if you treat the seller like you want to be treated – with respect and courtesy.

If you’re ready to buy one of the Brandon MS homes for sale, let me help you get it at the best price and with as little hassle as possible.  Give me a call today at 601-942-3392 or email me at Paula@KeyTrustProperties.com to get started.

Paula Ricks Broker/Owner, REALTOR®
220 W Jackson St, Suite 200, Ridgeland MS 39157
601-942-3392
www.PaulaRicks.com

Here are three areas of the Brandon MS real estate market that generally offer the best prices:

1. Homes that have been on the market for several weeks (or months!) -  Have your real estate agent send you homes that have been on the market for several weeks or months.  These property owners are more motivated to sell than the owners of newly listed homes.  They’re more willing to negotiate for lower prices or even give you extras such as home warranties or paying a portion of your closing costs.
2. Bank owned properties.  Bank owned properties (also known as Real Estate Owned or REOs) are homes that go back to the mortgage company after an unsuccessful foreclosure auction.  Like foreclosures, these properties can take longer to close, but the savings can be well worth the extra time.  Your Brandon MS real estate agent can help you understand the pro’s and con’s with this type of purchase.
3. “As is” properties. A property listed “as is” means the seller is not willing to fix anything and will not negotiate a price reduction based on needed repairs.  However, if you’re willing to put some money and elbow grease into the property, this could be your opportunity to get more home, in a better location and at a price you can afford.  Renovations can be done over time.  The lower mortgage payment could save you more over the years than the renovations will cost.  Your Brandon MS real estate agent can help you indentify the renovations that will have the best return for your investment.

If you’d like help to reduce the stress of finding the best buys in today’s Brandon MS real estate market, give me a call today at 601-942-3392 or email me at Paula@PaulaRicks.com.

Paula Ricks
Coldwell Banker Nell Wyatt, Inc.
REALTOR® and Broker Associate
443A Northpark Dr, Ridgeland, MS 39157
601-942-3392
Paula@PaulaRicks.com
www.PaulaRicks.com

Here are 4 steps you can take to narrow your search for Brandon MS homes for sale.

Step 1:  Decide on your top priority.  Is it location, price, number of bedrooms or something else?  Once you’ve decided on the most important feature, concentrate your search there.

Step 2:  Search for homes.  Most people start their search online.  There are many real estate web sites you can browse through.  Unfortunately, there are two big challenges to searching online:

1. Home listings quickly become out of date and may have incomplete or inaccurate information.  Overcome this challenge by enlisting the help of a real estate agent.  Your agent can quickly get all the current details on Brandon MS homes for sale.
2. You can spend hours searching online without finding what you’re looking for.  Overcome this challenge by setting a limit on the amount of time you spend searching online.  Use a timer to remind you when your time is up, then walk away from the computer.

Step 3:  Get comparables.  After you‘ve narrowed the list to your favorite neighborhoods, get a few sales price comparisons that include homes that have sold in the last six months as well as those with contracts pending.  Make sure you are comparing apples to apples, which means to compare homes that are the same size, same style and in the same neighborhood.  Your real estate agent is the best resource for this type of information.

Step 4:  Double check availability.  Once you’ve made your top picks of Brandon MS homes for sale to view, have your agent make sure the properties are still available and don’t have pending offers.  You don’t want to waste your time going to see a property that is no longer for sale.

Let me do the work for you.  Give me a call today at 601-942-3392 or email me at Paula@PaulaRicks.com to find out how I can streamline the search process for you.

Paula Ricks
Coldwell Banker Nell Wyatt, Inc.
REALTOR® and Broker Associate
443A Northpark Dr, Ridgeland, MS 39157
601-942-3392
Paula@PaulaRicks.com
www.PaulaRicks.com

1. Homes are in tip-top condition. Instead of selling and moving into a more expensive home, many owners have invested their money in home maintenance, repair and updates, so says the Harvard University’s Joint Center for Housing Studies. 

2. Outstanding homes are coming on the market. Many homeowners who have been waiting for the real estate market to take an upturn are now putting their homes on the market.  And, those homes are in great shape (see #1).

3. Appraisals reflect reality. We can all be thankful that Fannie Mae adjusted its guidelines so that home appraisals can be more in alignment with today’s real estate market. That means more deals will make it all the way through to closing.

4. Housing programs. There are still programs to help people buy homes:

• Workforce Housing Programs encourage middle-class families to buy houses. Buyers who qualify can get a big boost by combining one of these programs with today’s low mortgage rates.
• American Dream Downpayment Initiative (ADDI) provides low-income first-time earners (single family: $44,400; family of four: $63,450) with a city loan equal to 6% of the purchase price or up to $10,000, whichever is greater. Each state receives ADDI funds proportionate to the percentage of the national total of low-income households residing in rental housing in the state, as determined by the most recent available U.S. Census data.
• Mortgage Credit Certificate Program is a federal tax credit (15% or 20% of the mortgage interest, depending on property location) that helps low and moderate earners qualify for a higher first mortgage and reduced federal income tax.

Talk with a mortgage specialist or Brandon MS real estate professional to find out which programs your state has funded.

Now isn’t just a good time to buy, it’s one of the best times ever.  If you’re ready to buy a home, I can help.   Give me a call at 601-942-3392 or email me today at Paula@PaulaRicks.com.

Paula Ricks
REALTOR® and Broker Associate
Coldwell Banker Nell Wyatt, Inc.
443A Northpark Dr, Ridgeland, MS 39157
Call Direct:  601-942-3392
Office:  601-956-8533
Email: Paula@PaulaRicks.com
Web: www.PaulaRicks.com

Sellers aren’t Serious

Some buyers think that the seller isn’t serious about selling the house, that they’re just testing the market.  While this is true in some cases, most sellers are serious and will accept an offer that is close to the asking price.

There’s Something Wrong with the Home

Sometimes Brandon MS real estate for sale by owner sits on the market for a while.  Generally, it isn’t because there’s something terribly wrong with the house. 

It may be because the owner isn’t open to negotiations on the sale price.  More often, it’s because the owner doesn’t have the experience marketing and showing homes to potential buyers that a real estate agent does.  A typical owner isn’t likely to have the time to properly market the house.   

If there aren’t enough buyers looking at the house, it’s going to be harder to get a good purchase offer.

Real Estate Agents can’t Help

Some buyers believe that real estate agents can’t help them negotiate the purchase of a FSBO.  That’s not true.  If you find a FSBO you’re interested in, whether you find it because you drive by it or see it in an advertisement, let your Brandon MS real estate agent know.  Real estate agents can represent your best interests when purchasing FSBOs, just like they do when purchasing homes listed with a real estate agency.

If you’re interested in buying a home, whether or not it’s a FSBO, I’d like to help you.  Call me today at 601-942-3392 or email me at Paula@PaulaRicks.com. 

Paula Ricks
Coldwell Banker Nell Wyatt, Inc.
443-A Northpark Dr, Ridgeland, MS 39157
Call Direct:  601-942-3392
Office:  601-956-8533
www.PaulaRicks.com  
Paula@PaulaRicks.com

Yet, the problem with the news from the home buying standpoint is that it focuses on profit. The media says, “You can’t make a profit from buying a home.” They talk about prices dropping and more homes hitting the market, among other things. What they miss, however, are the real reasons most people buy a Brandon MS home for sale.

It’s your home. Period.
You can do what you want with it. You don’t have to worry about whether painting a mural on the wall will get you an increase in rent. You don’t have to deal with the noisy people who just moved into the apartment above you, who obviously brought a zoo because something’s pounding on your ceiling all the time. You can paint the walls black and nobody can say “Boo” about it, because it’s your home.

Fixed-rate mortgages stay put.
Unlike rent, which can go up and up and up, fixed-rate mortgage loans stay the same. They work exactly like they sound; the rate you start at when you buy your Brandon MS home for sale is the rate you end at when you finish paying off your mortgage.

You can eventually stop paying out.
Rent will always be owed. At no time in the future will your landlord say, “You’ve paid enough rent. You don’t have to pay anymore.” Mortgages, however, will eventually be paid off. Therefore, while renters pay for 15 years and then must continue to pay, homeowners, who have a 15-year mortgage, can pay for 15 years and then stop.

It’s your castle.
Nobody owns it but you. There’s a certain pride to owning a home that far outweighs profit. The excitement from making a profit, however small or large, is a fleeting, momentary thing. When you buy one of the Brandon MS homes for sale, you’re buying a castle – a safe haven where you can get away from the world; a place where you can relax and be comfortable.

If you’re ready to find your castle, I can help. Call me at 601-942-3392 or email me at Paula@PaulaRicks.com for more information.

Paula Ricks
Coldwell Banker Nell Wyatt, Inc.
443-A Northpark Dr, Ridgeland, MS 39157
Office:  601-956-8533
Call Direct:  601-942-3392
www.PaulaRicks.com 
Paula@PaulaRicks.com

According to this report, the prices for over 72% of the homes purchased in the first quarter of  2010 were affordable for families making an annual income of $63,800 (the median national income).  One of the main reasons for this is because of the national median price: just $175,000. Adding to that is the still historically low interest and mortgage rates, as well as companies once again beginning to hire new employees.  These “affordability” numbers are based on 28% or less of a family’s take-home pay.

Many new homeowners agree. The National Association of REALTORS® released the statistics for existing home sales on May 24.  April saw a 7% increase in sales from March, and Freddie Mac reports that 30-year, conventional, fixed-rate mortgage commitment rates rose to 5.10% in the same month.

What Does This Mean for Buyers and Sellers?
While this still means slow going for those with a Brandon MS home for sale, this means an incredibly hot market for buyers.   With over 4 million homes available for sale, sellers are definitely competing with each other.  In many places across the country, homeowners have dropped their prices 10% to 50%, in an effort to attract attention.

Can You Afford a Home?
If you’re looking at the real estate market and wondering if you can finally afford the home of your dreams, it’s time to quit wondering. Start doing your research.

Before you begin shopping for a home, shop around for a lender. Finding a good lender with reasonable rates is one of the best first steps of buying a home.

Next, get pre-approved for a mortgage.  Pre-approval lets you know how much you really can afford and whether your credit is acceptable for a mortgage. As well, if you do find the home you’ve always wanted, being pre-approved gives you a strong standing in negotiations, because the seller knows you’re seriously looking for a home.

Finally, if you can afford one of the Brandon MS homes for sale and have been waiting for the best time, you’ve reached it. There’s never been a better, more affordable time for buyers in the last 50 years.

If you’re looking for your dream home, I can help. Call me at 601-942-3392 or email me at Paula@PaulaRicks.com for more information.

Paula Ricks
Coldwell Banker Nell Wyatt, Inc.
443-A Northpark Dr, Ridgeland, MS 39157
Office:  601-956-8533
Call Direct:  601-942-3392
Paula@PaulaRicks.com
www.PaulaRicks.com

Even in this buyers’ market, you need to be a strong buyer. Otherwise, you could crumble when faced with negotiating prices  or needed repairs.

Three ways to be a strong buyer of Brandon MS homes for sale:

1. Walk in to any home for sale with a set idea of the value of property in the area. This means taking a little time to do your homework.  When you know the prices of the area, you can’t be run over by a forceful seller who is determined to convince you his price is firm.  This knowledge also helps you deal with sellers who are emotionally attached to their homes and can’t price them according to true market value.

2. Walk into a home for sale with an experienced REALTOR®. When you have a professional REALTOR® by your side, you are not alone. You do not have to be self-conscious or even be the ‘strong one.’ Your agent will do all your negotiating for you. You will also benefit from their intimate knowledge of the area and what to look for in a Brandon MS home for sale.

3. Walk into any home for sale knowing your needs and price range. Going home shopping without a clear concept of what you want and can afford can lead to emotional decisions. That can be hazardous for your pocketbook too.

If you would like more tips on how to be a strong buyer of Brandon MS homes for sale, give me a call today at 601-942-3392 or email me at Paula@PaulaRicks.com.

Paula Ricks
Coldwell Banker Nell Wyatt, Inc.
Ridgeland, Mississippi
www.PaulaRicks.com 
Paula@PaulaRicks.com 
Call direct:  601-942-3392

Condition Counts

You can get great deals on amazing homes when they need a little repair. However, that is a big trap if you don’t take into consideration how adept you are with a hammer and nails. If home repair isn’t up your alley, that’s not a sin.  But, it is unwise to buy a fixer-upper if you’re not into fixing or not financially prepared to hire professionals to do the fixing.

Wide Open Spaces

Rural living or huge parcels of property can be very appealing. The desire to own a big spread with rolling lawns can make you feel like a real land baron—until you have to maintain it. There are other aspects to looking at property removed from the hustle and bustle of the big city. Lack of convenience that might seem like a good thing will soon become just inconvenient. Consider the trade-offs if your idea of a perfect Brandon MS home for sale isn’t exactly in the city.

Don’t Settle

While you need to be realistic if your budget isn’t unlimited, you should not settle for less than what you truly need. Take the time to determine exactly which features are most important to your family. Consider:

• Which rooms will be most used
• How many people will be living in the house
• How many bedrooms you need
• How many bathrooms are necessary

Don’t try to squeeze into something that won’t fit those needs. If you have to wait a little while until you can afford a home that is the right size, it will be worth it to avoid the frustration of being dissatisfied with something as important as your home.

If you would like more information on what to consider before buying one of the Brandon MS homes for sale, I can help. Call me today at 601-942-3392 or email me at Paula@PaulaRicks.com.

Paula Ricks
Coldwell Banker Nell Wyatt, Inc.
Ridgeland, Mississippi
www.PaulaRicks.com 
Paula@PaulaRicks.com 
Call direct:  601-942-3392