01.24.11
Posted in Madison MS Homes for Sale tagged Madison MS home buyers at 7:00 am by Mississippi Real Estate Agent
If the thought of buying a Madison MS home for sale in 2011 has even so much as flitted through your mind, here are six New Year’s Resolutions you should consider making:
1. Review your credit reports. To determine the interest rate and terms of your mortgage, lenders pull credit scores from each of the three credit reporting bureaus: Equifax, Experian and Trans-Union. You need to go through all three credit reports and dispute any credit report errors.
2. Establish a good credit rating. To take advantage of today’s low interest rates, your credit score needs to be above 760. The higher, the better. To improve your credit rating, fix all errors in your credit reports and practice good credit behavior by paying your bills on time and in full each month.
3. Find out how much Madison MS home for sale you can afford to buy. To determine this, you need to know how much you have for a down payment and how much you can borrow. The best way to know how much you can borrow is to get pre-approved for a loan.
4. Shop around for a mortgage. Talk with 4 or 5 lenders before signing an application. Include a wide variety of mortgage providers such as a small local bank, a credit union, a mortgage broker, an online lender and a traditionally “big” lender such as Bank of America or Wells Fargo. Learn from each lender and then negotiate to get the best deal.
5. Research the neighborhood before you buy a home there. Find out about the schools, the crime rate and the foreclosure rate. Visit the neighborhood during the day and again at night to learn what’s really going on there. Take a walk and talk with the neighbors. They’ll give you the real scoop. Hire a real estate agent who lives and works in that neighborhood.
6. Read and understand all documents before signing them. I know they’re long, boring and complicated. But you’ll be spending the next 15 to 30 years of your life paying this loan. It’s worth the effort to read and understand everything before signing. If you don’t understand something, ask before you sign.
If buying one of the Madison MS homes for sale is on your list of things to do in 2011, let me help. Give me a call today 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
Call Direct: 601-942-3392
Office: 601-956-8533
www.PaulaRicks.com
Paula@PaulaRicks.com
Tags:
Madison MS home buyers
Permalink
11.05.10
Posted in Madison MS real estate tagged Madison MS home buyers at 7:00 am by Mississippi Real Estate Agent
Purchasing land to build a home on is very different from buying a home within a Madison MS real estate development. In fact, vacant land can be downright scary to someone who’s never dealt with it. Don’t let this fear keep you from buying land.
Do your research and separate the truths from the myths. To get you started, here are 4 common land myths debunked:
1. It takes too long to build on. The truth is that you can build on your vacant land as soon as you’re ready. What can take time is getting the right building permits and fitting into your builder’s schedule. However, none of this has anything to do with the land itself. You can run into these delays if you build in a planned community.
2. It has no value. You’re most likely not going to be able to flip a piece of vacant land like you could a home. Yet, like any other type of Madison MS real estate, land generally goes up in value over time. If you add improvements to land, like septic and water systems or even a home, its value will go up even more.
3. I have to pay cash for it. Although it may not be as easy for just anyone to get a bank loan for vacant land, it is possible. Even if you can’t get a bank loan for land, many land owners are more willing to offer owner financing or a lease to own arrangement so you can purchase it.
4. It’s just too risky. Of course there’s a risk involved in buying vacant land, but it’s no different than any other real estate investment. There’s always a chance the Madison MS real estate market will shift and make it more difficult to sell. However, as long as you do your homework and buy land in a desirable area, it’s still a rather safe investment.
If you’re interested in buying land or learning more about it, give me a call 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
Tags:
Madison MS home buyers
Permalink
10.04.10
Posted in Madison MS Homes for Sale tagged Madison MS home buyers at 7:00 am by Mississippi Real Estate Agent
Buyers are becoming more concerned about their personal environment, from eco-friendly carpeting to energy efficient appliances. If you’re looking for an eco-friendly Madison MS home for sale, but aren’t sure how to find it, here are a few tips on what to look for:
1. Indoor Air Quality (IAQ) – Although the number is growing, only a few builders are employing eco-friendly practices during construction. However, those that do can qualify for the EPA Indoor airPlus designation. These homes are designed for better IAQ, which means a healthier home for you. Rest assured, if a builder meets this designation they’ll tell you about it. However, just in case – ask!
2. Energy Efficient – If it qualifies for the EPA Indoor airPlus designation, the Madison MS home for sale will also be energy efficient. However, if you’re not looking at a newly built home, look for those homes that are Energy Star efficient. According to the Energy Star website, “These homes are at least 15% more energy efficient than homes built to the 2004 International Residential Code (IRC), and include additional energy-saving features that typically make them 20–30% more efficient than standard homes.”
3. Eco-friendly – Energy Star and EPA qualifications aside, you can also find homes in which the seller has made eco-friendly changes that will help you even though they may not meet the guidelines for qualifications. For instance, solar paneling, wind turbines and geothermal heating aren’t covered by the EPA or Energy Star qualifications by themselves, but they’re eco-friendly and can lower your utilities.
An eco-friendly Madison MS home for sale may be hard to find, but the numbers are growing. If you’re looking for an environmentally friendly home, I can help. 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
Office: 601-956-8533
Call Direct: 601-942-3392
www.PaulaRicks.com
Paula@PaulaRicks.com
Tags:
Madison MS home buyers
Permalink
07.22.10
Posted in Madison MS Homes for Sale tagged Madison MS home buyers at 7:00 am by Mississippi Real Estate Agent
Rejection is a hard thing to face in life, whether it’s from a potential client, a potential boss or a potential home seller. As a buyer of one of the Madison MS homes for sale, your stress level might be reduced if you’re aware of some of the reasons a seller may reject your offer.
Before I give you the list of reasons, I’d like to mention that even if you and your buyer’s agent do everything right, the seller may still reject your offer. It frequently has nothing to do with you.
With that said, here are 5 common reasons sellers reject offers on their homes:
1. The offer wasn’t enough for them to pay off their mortgage. For most sellers, the bottom line is paying off their mortgage. If your offer won’t cover the mortgage, they cannot accept it.
2. They may have just been testing the waters to see what they can get for their home.
3. Their plans may have changed. People add their home to the list of Madison MS homes for sale because they need to move, they want to upgrade their home, or they can no longer afford their home. If the circumstances change, they may not need to sell their home.
4. Their deal may have fallen through. Perhaps your seller was buying another house contingent on the sale of their property. If something went wrong with that deal, they may not be able to sell their Madison home to you.
5. You may be asking too much of them. The seller may not have the time or money to make any repairs they think are insignificant. Perhaps you want to close too soon or would like to move in to the home before closing.
Don’t get depressed when a seller rejects your offer on a Madison MS home for sale. There may be many reasons for their refusal. Help your real estate agent develop a counter offer, or move on to a new opportunity. There are a lot of homes on the market. You may be pleasantly surprised when you start looking again and find a home that fits your lifestyle even better.
When you’re ready to buy a home, I can help you find a great home and negotiate to a successful “Yes, we’ll accept your offer.” Call me today at 601-942-3392 or email me at Paula@PaulaRicks.com to get started.
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
Tags:
Madison MS home buyers
Permalink
07.05.10
Posted in Madison MS Homes for Sale tagged Madison MS home buyers at 7:00 am by Mississippi Real Estate Agent
On June 16, the Senate approved a plan to give homebuyers an extra three months to finish qualifying for federal tax incentives. If the plan passes, it means you’ll have until September 30, 2010, to close on the Madison MS home for sale you’re purchasing to qualify for tax credits of up to $8,000. (First-time buyers were eligible for a tax credit of up to $8,000. Current owners who bought and moved into another home could qualify for a credit of up to $6,500.)
Who Qualifies?
Originally, you had to sign a contract to purchase a home by April 30, 2010, and close no later than June 30, 2010. With this extension, anyone who had a signed purchase agreement by April 30 would have until September 30 to close on the sale of that home.
Why the Extension?
Mortgage lenders have been swamped with borrowers trying to get their Madison MS home purchases approved by June 30. Many potential borrowers are having difficulty meeting that deadline.
The National Association of REALTORS® (NAR) estimates that 180,000 buyers are likely to miss the June 30 deadline “because of delays in the process.” That’s particularly true of short sales, the NAR noted.
Is it Approved?
Unfortunately, an extension of the deadline for the federal homebuyer tax credit remains tied to Senate legislation that would extend unemployment benefits, complicating efforts to get the deadline extended before the expiration date of June 30.
But don’t give up hope. If lawmakers extend the deadline after June 30, the language in both the House and Senate bills will apply retroactively.
Have questions about the federal tax credits? Or any other questions about Madison MS homes for sale? Give me a call today at 601-942-3392 or email me at Paula@PaulaRicks.com. I’ll respond promptly and personally.
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
Tags:
Madison MS home buyers
Permalink
03.15.10
Posted in Madison MS Homes for Sale tagged Madison MS home buyers at 7:00 am by Mississippi Real Estate Agent
As you are looking for the ideal home for you and your family, you may find yourself trying to decide between two similar homes. You could have worse problems than this on your Madison MS homes for sale search, but how do you decide which home is better for you and your family?
Here are primary points to consider:
1. Location. This is where you are going to live. You need to consider how far away it is from work, schools, and shopping. You probably want to do as little driving as possible. A Madison MS home for sale close to where you will be spending your time away from home may be the better choice for you.
2. Home repairs. What will you need to do to the home once you move in? Think about the time and money you will have to invest in the home before making your decision. A home in slightly better shape may be the better option for you so you can concentrate on getting settled in your new home after moving in.
3. Age of appliances. This can make a big difference in your choice. Do you really want to have to replace the appliances soon after you move in? Your might be better choosing a home with newer appliances.
4. Hobbies. Is there a car lover or avid crafter in your family? Look at which home has the most to offer these people. Perhaps one garage has been expanded or has built-in work benches. Maybe a closet already has a space to organize craft supplies.
Let me help you find the Madison MS home for sale that best fits your lifestyle. 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
Tags:
Madison MS home buyers
Permalink
02.08.10
Posted in Madison MS Homes for Sale tagged Madison MS home buyers at 7:00 am by Mississippi Real Estate Agent
Last November, when Congress approved an extension on the first-time homebuyer tax credit, potential homebuyers who missed the original deadline were excited. It was another chance to buy Madison MS homes for sale and receive an often badly needed $8,000 on their tax return.
Real estate agents were excited as well, because the tax credit extension expanded to include “upgrade” buyers – those who wanted to replace their current home with a bigger one. The possibility of selling a home was higher than it’d been in a while. However, expansion to include upgrade buyers wasn’t the only change.
If you’re hoping to buy one of the Madison MS homes for sale and take advantage of the tax credit before the new 2010 deadlines, here are a few things to keep in mind:
- Two dates are crucial. You must sign a contract before April 30. The closings must be complete by June 30. One of the best ways to make sure things go smoothly is to get pre-approved for a mortgage before you go home shopping. Pre-approval tells you, as well as the seller, exactly how much home you can afford. This way, you don’t waste your time or the seller’s.
- Negotiate without emotion. Potential buyers have lost the home of their dreams because they became competitive. If you’re negotiating for closing costs, housing price or anything else, make sure that your requests are reasonable. Don’t change something “just because.”
- Taxes must be mailed in. Due to people trying to scam the system, you won’t be able to file your taxes electronically; you’ll have to mail them in. Make sure you’re using the right forms, and, if you need your tax refund by a specific time, you might want to file early.
- Documentation is truly priceless. Again, thanks to scammers, buyers will have to include a signed mortgage statement, proof of residency and a driver’s license with their taxes.
You still have until April 30 to sign a contract on one of the Madison MS homes for sale to get the tax credit. Today’s real estate market is beneficial for buyers. Put it to work for you!
If you’d like to take advantage of the homebuyer tax credit, I can help. Call me right away at 601-942-3392 or email me at Paula@PaulaRicks.com so we can beat the deadlines.
Paula Ricks
Coldwell Banker Nell Wyatt, Inc.
Ridgeland, Mississippi
www.PaulaRicks.com
Paula@PaulaRicks.com
Call direct: 601-942-3392
Tags:
Madison MS home buyers
Permalink
11.16.09
Posted in Madison MS real estate tagged Madison MS home buyers at 7:00 am by Mississippi Real Estate Agent
Some people who are supposedly “in the know” believe the American dream of owning a home has died. They spout “facts” that say home ownership – not just for Madison MS real estate homes, but also across the nation – is no longer on the minds of the majority of Americans.
Additionally, according to some of these individuals, suburban sprawl is the reason for:
- the housing bubble burst,
- the break down of social mores,
- global warming (due to commutes, of course)
- and more.
It’s amazing that the nation’s suburbs can cause so many problems, isn’t it?
Is the American dream of home ownership really dead? The number of people buying Madison MS real estate homes and condos versus renting them points to a definitive… maybe. However, in newspapers and on the Internet, we’re seeing tons of “if you can’t sell your home, rent it out” information. We’re seeing potential homebuyers being told that renting may be the best option. Why?
The economy, of course. While there are plenty of want-to-be homeowners, those same people choose to rent rather than own for a wide variety of reasons. The main reason, however, is that they think it will be cheaper.
When you first think of buying a home, it sounds like an overwhelming prospect with lots of money involved. However, while the down payment is much more than it would be for a rental property, it’s time to really look at the cost. Instead of example numbers, let me point you to Money-Zine.com’s Rent vs. Buy a Home calculator.
Now, before you start plugging in numbers, remember that the national average for a 30-year fixed rate mortgage is around 4.5% – 5%. The national averages for mortgage rates in general range from 3% to 5.5%. Of course, every situation is different, but think about it and really do your research before you decide whether to rent or buy one of our Madison MS real estate homes or condos. Don’t just assume it’s better to rent; renting may not be the cheap option you think it is.
If you’d like to find your piece of the American dream, I can help. Call me 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:
Madison MS home buyers
Permalink
11.04.09
Posted in Madison MS Homes for Sale tagged Madison MS home buyers at 7:00 am by Mississippi Real Estate Agent
If you’re looking at Madison MS homes for sale, want to buy a home and are waiting around for better prices, you might want to rethink your strategy.
If you’re a market watcher, soaking up the information overload across news media and Internet websites, you’re probably overwhelmed with confusion by now. Is the housing market getting better? Is it getting worse? Was there really, when it gets down to it, a housing bubble collapse? And, if so, who popped it?
First, the quick answers. Yes, the housing bubble collapsed, and everybody had a hand in popping it: the government, the lenders, the investors and the general public. Now the hard answers: it’s getting better – and worse.
The truth is that market predictors are all on the fence. With the ARRA (American Recovery and Reinvestment Act) giving first time homeowners some incentive to buy Madison MS homes for sale and elsewhere, there has been a steady increase of sales. However, once the tax credit deadline hits at the end of this month, the numbers are once again expected to drop.
Again, though, it’s better and worse. While the housing market is still dropping in some areas, such as the southeast in Mississippi, Alabama and so forth, there are definitely some strong markets in the country.
For instance, Boulder, Colorado holds 60% of the share of increasing home values. The average value is about $350,000, but there’s a limit in place on the amount of homes allowed in the area. In Binghamton, New York, the average value of a home is around $112,000. They also have a housing limit, which means a small supply, so prices probably aren’t going to plummet.
Just because this is a buyer’s market, doesn’t mean you’ll get the exact price you’re looking for. If you want to buy a home and you’re waiting around for the prices of homes to plummet into a “sweet deal,” make sure you don’t wait yourself into an expensive mistake.
Instead of checking market forecasts, potential homebuyers need to look at things the way we always should have. Do I want to buy a house? Can I afford one of the Madison MS homes for sale the way things are now? By researching, crunching numbers and answering the important questions, you’ll find the sweetest deal you could ever have: a wonderful house you can afford.
If you’re looking for a place to call your own, 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:
Madison MS home buyers
Permalink
« Previous Page « Previous Page Next entries »
