02.01.12
Posted in Jackson MS real estate tagged Jackson MS homebuyers at 7:00 am by Mississippi Real Estate Agent
Appraisals are final when it comes to securing money from a bank, so don’t let a poor one ruin your metro Jackson MS real estate plans. Be proactive to ensure your appraiser is competent and has all the information he or she needs, because your purchase, sale or refinancing goals could be wrecked with a low-ball appraisal.
Minimize the risk of receiving an inaccurate appraisal by …
- Meeting the appraiser at the house. Show them around your metro Jackson MS real estate, just like you’d show a potential buyer. That way you can highlight some of your home’s unique features that they might otherwise overlook. Also, if they have any questions about when things were updated or replaced, you’ll be there to share all relevant information — instead of them just taking a guess.
- Establishing that he or she is geographically competent. Appraisers that don’t know the area can misquote, so be sure to ask them questions, such as how far their office is from the property and if they have access to local MLS data. If you feel the appraiser doesn’t meet geographic competency standards, then you can raise the issue with your lender.
- Providing him or her with comparables. You probably know the neighborhood better than the appraiser, so supply information on recently sold homes that you think are similar to yours. He or she might not use them, but it can’t hurt.
- Record any mistakes. Always ask for a copy of the appraisal to review, because appraisers make slip-ups all the time. Especially if the value is low, be sure to look over the details of the appraisal and call out any discrepancies. If this is the case, you won’t be able to change the designated value, but you can file a complaint against the appraiser. If the mistakes are big, ensure you get a second appraisal.
Don’t let an inaccurate home appraisal ruin your future financial goals. Take metro Jackson MS real estate appraisals seriously, be proactive, do your homework and definitely review the final version.
If you’re getting ready to sell your home or purchase a new one and have questions about appraisals, please call me at 601-942-3392 or email me at Paula@KeyTrustProperties.com for more information.
Paula Ricks Broker/Owner, REALTOR®
220 W Jackson St, Suite 200, Ridgeland MS 39157
601-942-3392
www.PaulaRicks.com
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Jackson MS homebuyers
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07.26.10
Posted in Jackson MS real estate tagged Jackson MS homebuyers at 7:00 am by Mississippi Real Estate Agent
Owners of metro Jackson MS homes for sale are wondering, “What are buyers looking for?” This is especially true if the home has been on the market for a while. Well, homeowners aren’t the only ones. Several companies, including Better Homes and Gardens and Avid Ratings, the exclusive research provider for the National Association of Home Builders, have researched this question.
So, what are buyers looking for in national and metro Jackson MS homes for sale? In a 2010 Avid Ratings homebuyer’s study, over 22,000 homeowners, who bought their homes in the past nine years, provide some clues. In short, the study says practicality beats out extras any day.
The days of formal dining rooms, oversized backyard patios and community clubhouses are gone. Swimming pools aren’t that big a deal, but neither are upstairs laundry rooms or home theaters. These extras have been replaced by practicalities such as:
- Children’s playground
- Walking paths
- Large kitchens (with island if possible)
- Home office or study
- Main-floor master bedroom
- Two-car garages
- Oversize showers with seating
As well, although buyers are willing to have less space, they’re big on “green” features such as high-efficiency windows, insulation and appliances.
The home survey by Better Homes and Gardens reveals much the same information. Homeowners and potential buyers pointed towards downsizing into smaller, greener homes. Again, high-efficiency appliances topped the interest levels, with a lean towards Energy Star appliances.
The home office is still a priority, although it doesn’t have to be dedicated space; many would be perfectly happy with a multi-purpose space, instead. The real key, however, is no wasted space, along with ample storage.
If you’re considering doing any amount of remodeling to excite potential buyers, the information contained in these surveys are priceless. If you’re one of the owners of metro Jackson MS homes for sale thinking your house is too small, it’s great news. If you thought you might upgrade to more energy-efficient appliances, you’re on the right track. Consider what you can do to make your home more “future buyer” friendly!
If you’d like to sell your home or are looking for a more energy-efficient home, I can help. Call me now 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
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Jackson MS homebuyers
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03.27.10
Posted in Jackson MS real estate tagged Jackson MS homebuyers at 1:10 pm by Mississippi Real Estate Agent
The federal tax credits are expiring April 30, 2010 for first-time and repeat home buyers. If you’ve been thinking about purchasing one of the Metro Jackson MS homes for sale now is the time to buy. Interest rates are still historically low and you’ll need to act soon to take advantage of a sizeable amount of money from Uncle Sam.
Below are seven tips to help you take advantage of the $8,000 first-time buyer and $6,500 repeat buyer tax credit:
1. Decide where you want to live. About 80 percent of home buyers search for homes online to learn more about the homes in the area and narrow their home search. A good resource to research communities is to look at CNN Money Magazine’s “2009 Best Places to Live.” Brandon, Mississippi was ranked 54th last year and is a wonderful place to live and raise a family.
2. Get pre-approved for a home mortgage. You have more leverage with sellers if you’re already pre-approved through your lender for a specific amount of money. Save valuable time by keeping your home search within your price range.
3. Establish criteria for how much home you can afford. With only a month left to sign a valid real estate contract, find a real estate agent who is experienced and knows the area well. Your agent will find out exactly where you wish to live, price range and the type of home you’re looking for. This will save time and limit your visits to those Metro Jackson MS homes for sale that meet your criteria.
4. Decide which features are ‘must have’ and affordable. Do you need a four bedroom home or can you live with a three bedroom home? Your real estate agent will be more effective when they know the size of home and which features will meet your needs and your mortgage budget.
5. Invest wisely. If you don’t have extra money to repair a home, stay away from fixer-uppers.
6. Short Sales can take much longer to close escrow. Don’t get hung up on a real estate transaction that has to go back and forth between the seller and their mortgage lender for approval.
7. Plan for contingencies and extra time. Purchasing a home requires home inspections and other issues that can take time. And, if you’re a repeat home buyer you may have to sell your home before you can purchase a new one.
To qualify for the tax credit you’ll need to be under contract by April 30, 2010 and close by June 30, 2010. The purchase price needs to be $800,000 or less and you must be 18 years of age.
If you’re ready to look at Metro Jackson MS homes for sale, contact Paula Ricks at 601-942-3392 or email me at Paula@PaulaRicks.com today! Visit my website www.PaulaRicks.com for more information.
Paula Ricks
Coldwell Banker Nell Wyatt, Inc.
Ridgeland, Mississippi
www.PaulaRicks.com
Paula@PaulaRicks.com
Call direct: 601-942-3392
Tags:
Jackson MS homebuyers
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12.10.09
Posted in Jackson MS real estate tagged Jackson MS homebuyers at 7:00 am by Mississippi Real Estate Agent
Real estate aficionados who follow the upswings and dips in the Metro Jackson MS real estate market were worried that the end of the first-time homebuyer’s credit would mean an end to housing sales. Sales were up, prices were down and the market seemed to be stabilizing – thanks, in large part, to the tax credit. The tax credit motivated potential homebuyers to become actual homebuyers, which kept home sales stable.
Fortunately, those worries were groundless. President Obama signed a five-month extension on the first-time buyer tax credit November 6th. The Worker, Homeownership and Business Assistance Act of 2009 covers quite a few new bits of housing legislation:
- Extends the first-time tax credit until April 30, 2010
- Expands to include those homebuyers that haven’t owned a home in three or more years
- Allows first-time buyers that are overseas military personnel to take advantage of the credit until May 2011
- Requires documented proof that the buyer actually bought a home
- Changes the credit amount from $8,000 to “$8,000 or 10% of the home’s value”, whichever is less
- Sets the qualification guidelines at $125,000 a year or less for individuals and $225,000 or less for couples (credit amount becomes a scaled decrease above these income levels)
- Requires a minimum age of 18 for those applying for the tax credit
- Adds $6,500 tax credit for those that have lived in a home for at least five years, but want to buy a larger house
I think a lot of people want to own a home, and the extension of the tax credit can only help. As a result of the extension, buyers may take a little longer, peruse the Metro Jackson MS real estate market and make sure they’ll enjoy the home they buy. While I don’t see a long line of buyers standing in line, I do see the potential for long-term market stabilization.
If you want to take advantage of the new tax credit extension, I can help. Call me today at 601-942-3392 or email me at Paula@PaulaRicks.com now for more information.
Paula Ricks
Coldwell Banker Nell Wyatt, Inc.
Ridgeland, Mississippi
www.PaulaRicks.com
Paula@PaulaRicks.com
Call direct: 601-942-3392
Tags:
Jackson MS homebuyers
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