06.24.11
Posted in Jackson MS real estate tagged Jackson MS real estate buyers at 7:00 am by Mississippi Real Estate Agent
The process of buying a new home is daunting enough without having to track down all the various paperwork necessary at the last minute. Don’t endure extra stress! Get your paperwork together early, so that you can feel piece of mind when purchasing metro Jackson MS real estate.
You should have the list of documents below in hand before you make an offer on a home. This will ensure the purchase process is as quick as possible. Every mortgage lender’s requirements can be different, so double-check with yours for a comprehensive list.
- ID – This might seem like a no-brainer to most people, but just make sure you have official identification.
- Pay stubs – Your lender will want proof that you’re still earning an income, so inquire about how many months worth they’ll want you to provide.
- Gift letter – If someone else is helping you with your down payment, the mortgage lender will want to know if you’re receiving a gift or a loan. If someone else is loaning you money, your lender will want to take that debt into account before approving your mortgage.
- Tax returns – Your lender is going to want almost any financial document you can think of. Bring at least the last two years of tax records to be on the safe side.
- Bank account statements – Bring at least the statements from the most recent two months, especially if the bank where your accounts are is not your mortgage provider. Also bring any other financially-related paperwork — that includes proof of child-support or alimony payments.
- Divorce decree – Especially if it’s recent, you’ll want to be able to prove that you’re no longer responsible for your ex’s debts.
In short, if you receive anything at all in the mail regarding your personal finances, make copies and bring them with you when you’re seeking mortgage approval. You never know what the bank will ask for, so try to have everything.
If you want to learn more about how to negotiate the best deal and how to prepare metro Jackson MS real estate purchasing paperwork, I can help. Call me today at 601-942-3392 or email me at Paula@PaulaRicks.com.
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 real estate buyers
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02.25.11
Posted in Jackson MS real estate tagged Jackson MS real estate buyers at 7:00 am by Mississippi Real Estate Agent
Considering deflated real estate values, you might wonder if buying national and metro Jackson MS real estate still makes good financial sense. According to the National Association of REALTORS® eighth annual Housing Opportunity Pulse Survey, nearly 8 out of 10 respondents believe buying a home does make good financial sense.
Surprised? Let’s examine three reasons Americans believe buying national and metro Jackson MS real estate remains a good financial choice:
1. Lower home prices and low mortgage interest rates are making homes more affordable.
2. Almost 7 out of 10 believe that home values have stabilized in their area; the same number expects home sales to remain about the same through the end of the year.
3. The rate of foreclosures is also seen as stabilizing; 51 percent say the rate is about the same as last year.
Another big advantage for you may be the tax benefits of home ownership. You will still, as always, be able to deduct the interest you pay, as well as other real estate related items on your income tax return. For most people that deduction equates to a sizeable chunk of money. It can mean the difference between owing the government more money at the end of the year, and getting a refund.
If you would like more information on how owning metro Jackson MS real estate can make sense for you, give me a call today at 601-942-3392 or email me 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
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Jackson MS real estate buyers
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12.20.10
Posted in Jackson MS real estate tagged Jackson MS real estate buyers at 7:00 am by Mississippi Real Estate Agent
Buying a home used to be celebrated. It was a sign of growing up and “getting somewhere.” Yet, tell someone you bought metro Jackson MS real estate now days and you might just get wide eyes and a gasped, “You did WHAT?”
If you’re still trying to decide if buying metro Jackson MS real estate is for you, consider all the reasons why people are still buying homes.
Well, first, you have the reasons that have stood the test of time:
- Once you buy a house, it’s yours until you decide to sell it.
- You experience pride of ownership.
- There’s also a sense of security in owning your own home, which is something missing in renting.
While those traditional reasons are tried, tested and true, there are others:
- Mortgage rates hit an all-time low, which became a big incentive for some buyers. Potential buyers looked at the interest rates and figured they could never get a better deal on a mortgage.
- Home prices are lower too. Yes, the media says home prices may decline more, but the key word is “may.” The experts can predict all they want, but you don’t know for sure until it happens. Some first-time buyers looked at the prices, weighed their decision on “what if the prices start rising again” and signed the deal.
What about you? If you’re looking at the possibility of buying metro Jackson MS real estate, what would get you to sign on the dotted line? Put your requirements and goals in writing, and make them realistic. When all the cards are right, there’s nothing left to do but play your hand.
If you’re looking for a great property to own, I can help. Call me 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
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Jackson MS real estate buyers
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02.25.10
Posted in Jackson MS real estate tagged Jackson MS real estate buyers at 7:00 am by Mississippi Real Estate Agent
You probably will not be surprised to hear that in 2009, on the average, new-home buyers that purchased Metro Jackson MS real estate bought smaller homes.
To be exact, the National Association of Home Builders (NAHB) released information showing that the average size of a new home decreased by 40 square feet, from 2,520 square feet in 2008 to 2,480 square feet in 2009. While 40 square feet may not sound like a lot, it is significant because it’s been 27 years since the average home size fell by that much.
Are You Missing a Bathroom?
This decline in square footage is also noteworthy because 40 square feet is about the size of an average bathroom. Interestingly, NAHB’s statistics revealed that the number of homes with 3 or more bathrooms fell in 2009, for the first time since 1992.
What’s Fueling this Shrinkage?
There are 4 primary reasons Metro Jackson MS real estate buyers are purchasing smaller new homes:
- The recession. People are reconsidering how much home they really need and are looking for ways to save money. Results of a 2009 survey by Better Homes and Gardens magazine, showed that downsizing is a bigger priority. Thirty-six percent of homeowners surveyed said they expected their next home to be “somewhat smaller” or “much smaller” than their current home.
- The small-house movement. This movement has been gaining steam in the United States for a number of years. The recession accelerated it and home builders responded by building smaller homes.
- The prominence of first-time buyers in the housing market. This is being stimulated by the $8,000 first-time homebuyer tax credit.
- The increasing number of households with members 55 and older who are buying homes. Folks over 55 prefer to purchase single-story homes, which tend to be smaller than two-story homes.
Considering buying Metro Jackson MS real estate and want one of the smaller homes?
If you’re thinking of downsizing, 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.
Ridgeland, Mississippi
www.PaulaRicks.com
Paula@PaulaRicks.com
Call direct: 601-942-3392
Tags:
Jackson MS real estate buyers
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09.10.09
Posted in Jackson MS real estate tagged Jackson MS real estate buyers at 7:00 am by Mississippi Real Estate Agent
Metropolitan Jackson MS real estate is one of the biggest purchases anyone will make, whether male or female. And, while it’s been scientifically proven that men and women have different approaches to life, one would think that purchasing a home is pretty much the same across genders. We each have our own concerns and important issues, but they basically all add up to, “This is what I want in my home.”
Therefore, the results of a recent survey caused quite a bit of surprise. The survey pointed out places where inherent differences were clear, as well as places where there weren’t any differences at all. So, when it comes to a match in the Metro Jackson MS real estate boxing ring, who comes out on top?
Who is fastest at making up their minds on a home to buy?
Believe it or not, women grabbed the top mark at 70%. A full 8% more women made up their minds on whether to buy a house the day they walked into it. Of those that needed another visit or two, 32% were men, versus 23% of the women. Although women have a stereotype of being wishy-washy, this stereotype doesn’t hold true in the real estate market.
How close is the extended family?
If you had a choice between living closer to your extended family or closer to your job, which would you choose? According to the survey, 55% of the women would rather be closer to family, while only 37% of the men would.
What about home security?
When it came to security concerns, men and women both agree. It may be the home of your dreams, but if it’s not safe, it’s “no thank you.” What was the percentage? Women grabbed 64%, while 51% of the men said the same. Security is something we appear to agree on.
How would you use a spare room?
If you had an extra 12 x 12 room, how would you use it? With men and women both, we’d rather have a spare bedroom (25%), an office or study (15%), or a family room/den (11%).
Conclusion: Couples, if you’re looking to buy Metro Jackson MS real estate, sit down with your partner and lay out the rules. Find that fine line between what you each want, and no fighting, biting, kicking or scratching!
If you’re looking for the perfect home to fit what you both want, 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.
Ridgeland, Mississippi
www.PaulaRicks.com
Paula@PaulaRicks.com
Call direct: 601-942-3392
Tags:
Jackson MS real estate buyers
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07.02.09
Posted in Mississippi Foreclosures tagged Jackson MS real estate agents, Jackson MS real estate buyers at 5:49 am by Mississippi Real Estate Agent
These days, homes are going into foreclosure like never before. Many factors have contributed to this trend, and as a result, banks have numerous Metro Jackson Mississippi foreclosures that need to be sold as quickly as possible. Explore a few reasons why buying foreclosures now could be a great opportunity.
1. Price – Since there’s an over abundance of foreclosed homes that need to be sold, many are priced way below market value, which creates a good opportunity for real estate investors to buy.
2. Quick sales – Sellers want to get Metro Jackson Mississippi foreclosures off their hands as soon as possible and they tend to be extremely motivated sellers. Therefore, you could be the owner of a new home in record time. Also, most bank owned deals, which were taking anywhere from 3 to 18 months, can now often be closed in less than 45 days.
3. Easier to obtain loans – With the help of the stimulus plan, buyers of foreclosures are now finding it easier to get loans.
4. Less competition – Many times, foreclosures aren’t advertised like regular homes. Also, because of the sheer amount of Mississippi foreclosures, many bank owned homes go unnoticed by most people. This means you probably won’t have to compete heavily with other buyers for foreclosed properties.
Although times are still tough for some, if you’re a real estate investor, right now could be the ideal time to purchase Metro Jackson MS real estate foreclosures. It may be a while before deals like these come around again, so take advantage of the rock-bottom home prices now before they’re gone.
Want to work with a real estate agent who can expertly guide you through the process of purchasing foreclosures? 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
Tags:
Jackson MS real estate agents,
Jackson MS real estate buyers
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06.01.09
Posted in Jackson MS real estate tagged Jackson MS real estate agents, Jackson MS real estate buyers at 7:58 am by Mississippi Real Estate Agent
Buying a home can be a life-changing experience. Whether it’s your first piece of Metro Jackson MS real estate or your third, take some time to assess all the ups and downs that are part of such an expensive purchase. Here are a few tips to help prevent negative emotions such as buyer’s remorse from getting your down:
- Do Your Research. One of the best ways to prevent home buyer’s remorse is to conduct thorough research in the beginning. Know how much house you can afford. Consult a real estate professional and visit different neighborhoods. Check out school districts. Bottom line — go over as many details as possible before putting down your hard-earned cash.
- Be Honest With Yourself. Although you may love that charming 1920s Metro Jackson MS real estate fix-upper located in a great neighborhood, do some soul searching and be honest with yourself. If you know in your heart that to make yourself happy you’d need to do a complete remodel project, maybe you should keep searching. The reality is that you could wind up taking on more than you really want to.
- Don’t Look at Other Homes. Just like fashions, home designs can change over time. There will always be something newer, bigger, more contemporary – you name it! So if you continue to look at other homes long after you’ve made your purchase, you may never feel satisfied with your property.
- Stop Asking for Opinions. Everyone’s situation is different, especially when it comes to homes and decorating styles. And remember, you didn’t buy the home to please everyone else. You bought it to please yourself. So if you’re happy with your purchase, don’t concern yourself with everyone else’s opinions. They will just make you doubt your choice.
Before you start feeling remorseful and questioning your home buying decision, remember to focus on your original list of wants and needs. Remind yourself that you met the majority of your criteria when purchasing your Metro Jackson MS real estate. Be content. You’re living in your dream home.
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Paula Ricks
Coldwell Banker Nell Wyatt, Inc.
Ridgeland, Mississippi
www.PaulaRicks.com
Paula@PaulaRicks.com
Call direct: 601-942-3392
Tags:
Jackson MS real estate agents,
Jackson MS real estate buyers
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