10.07.11
Posted in Madison MS real estate tagged Madison MS real estate buyers at 7:00 am by Mississippi Real Estate Agent
Today’s home buyers have a big advantage over buyers from a decade ago: the internet. You can search for homes for sale online, find pricing data and instructions on how to buy a home. So, why would you possibly want to hire a Madison MS real estate agent to help you buy a home?
Here are four surprising and not-so-surprising reasons why hiring a Madison MS real estate agent will maximize your time and money when buying a home:
- Paperwork – Today’s real estate contracts run 10 pages or more, and will take you hours to read, comprehend, process and file. One miniscule mistake or omission could land you in court or cost you thousands. Experienced agents handle the paperwork and legal issues for you, minimizing your hassles, headaches and anxiety.
- House Hunting – It’s a jungle out there! Navigating through the short sales, foreclosures and thousands of homes for sale can be overwhelming. Your agent can streamline that process for you by sorting through the trash and finding the gem that meets all your needs and budget.
- Goal Achievement – When you have an expert working on your team and looking out for your best interest, you won’t have to settle for less. A professional agent is by your side every step of the way helping you achieve your goal.
- Price Advice – Your agent can help you determine if a property you’re interested in is worth the asking price and give you advice on how much to offer for the home. She or he will also negotiate the price and terms for you to get you the best deal possible. Experienced agents have honed their negotiating skills through years of practice in many types of real estate markets and with a wide variety of personalities.
Want to hire a professional, skilled and experienced Madison MS real estate agent? Give me a call today at 601-942-3392 or email me at Paula@KeyTrustProperties.com to learn more about how I can help you achieve all your real estate goals.
Paula Ricks Broker/Owner, REALTOR®
220 W Jackson St, Suite 200, Ridgeland MS 39157
601-942-3392
www.PaulaRicks.com
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Madison MS real estate buyers
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06.22.11
Posted in Madison MS real estate tagged Madison MS real estate buyers at 7:00 am by Mississippi Real Estate Agent
Buying a home is a business transaction, but it’s hard to keep emotions completely out of the process. Most sellers in today’s market already know that they need to avoid unnecessarily angering their buyers. And buyers shouldn’t make the mistake of thinking that just because the Madison MS real estate market is down they can get away with annoying sellers. Keep your cool this summer and avoid upsetting sellers so that your home purchase goes smoothly and for a fair price.
- Don’t put down their home. By pointing out everything that is wrong with a house, you could force the sellers to take less money, but this strategy hardly ever works. You’re more likely to anger the seller to the point that they won’t continue negotiations. That doesn’t mean you can’t fight for the best deal possible, but be careful not to shoot yourself in the foot.
- Don’t present an absurdly low offer. In today’s market, there’s often room to negotiate on Madison MS real estate, but offering something WAY to low will often insult the seller. You’re better off coming in with what you think is a fair or a slightly low offer — and negotiating from there.
- Don’t put off getting a pre-approved loan. There’s nothing that will frustrate a seller more than getting almost all the way through the purchasing process only to find out you can’t get financing. With your pre-approval, you’ll know exactly what you can afford so you won’t waste your or the seller’s time.
- Don’t renegotiate at the end. Never offer over what you want to pay and then attempt to ask for a massive price reduction to fix every minor repair. Of course, if a major repair needs to be completed, you can certainly expect that to be reflected in the price. Just don’t attempt to lure the seller in with a price you know you’re unwilling to pay.
If you’d like to work with a real estate agent who can help you find the best buys and stay cool while purchasing Madison MS real estate this summer, call me at 601-942-3392 or email me at Paula@PaulaRicks.com for more information.
KeyTrust Properties Paula Ricks
Paula Ricks Broker/Owner, REALTOR®
220 W Jackson St, Suite 200, Ridgeland MS 39157
601-942-3392
www.PaulaRicks.com
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Madison MS real estate buyers
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04.13.11
Posted in Madison MS Homes for Sale tagged Madison MS real estate buyers at 7:00 am by Mississippi Real Estate Agent
Buying a Madison MS home for sale is one of the few occasions in which some form of negotiation is the rule rather than the exception. Just because it is the norm, however, does not mean that most people are good at it.
Here are a few tips to help you negotiate the best deal when buying your next Madison MS home:
1. Know your bottom line. Determine your bottom line and stick to it. This sometimes means you have to be willing to walk away from a deal. It also means being realistic about what you’re asking from the seller. Many sellers are faced with the fact that their home may not be worth what they paid for it. This puts limits on the concessions a seller can offer.
2. Stay flexible. For example, what if the Madison MS home for sale that you’d like to buy needs a new heating system. The seller is unwilling to replace the unit but is willing to put $3,000 toward your closing costs. The $3,000 you’re saving in closing costs will cover the cost of a new heating system. If all you focus on is the seller replacing the heating system, you miss the chance to achieve your overall goal, which is purchasing a home without paying for a new heating system.
3. Find out how long the home has been for sale. If the home is newly listed, the seller is less likely to lower the price significantly or offer other concessions. However, if the home has been for sale for 12 months or longer, the homeowner is more motivated to sell, and you’re more likely to get a great deal.
4. Work with a pro. No one is better at knowing what sellers want and how to negotiate great real estate deals than professional real estate agents. Unless you are an experienced, savvy negotiator, leave it to the pros.
Thinking of buying one of the Madison MS homes for sale? I would be pleased to represent you in your next real estate purchase. You can reach me by phone 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
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Madison MS real estate buyers
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08.12.10
Posted in Madison MS Homes for Sale tagged Madison MS real estate buyers at 7:00 am by Mississippi Real Estate Agent
When you look for a mortgage to finance one of the Madison MS homes for sale, you want to find one that allows you to buy the biggest house possible for a monthly payment you can afford. This seems simple enough. All you need to do is a little division to determine your monthly payment.
Unfortunately, this isn’t the entire picture of your monthly mortgage payment, and lenders don’t always explain this to you when you’re buying a Madison MS homes for sale. Here are three things you need to know about your monthly mortgage payment for your new home:
1. Interest and Principal. Only part of your monthly mortgage payment actually pays down your loan. A portion of your mortgage payment goes toward your loan principal and part of it pays the interest. The longer you have your loan, the more money goes toward your principal. Be aware that at the beginning of your loan term, most of your payment goes toward interest and does little to reduce the amount of money you owe on your home.
2. Homeowner’s Insurance and PMI. Typically, your lender collects money to pay your homeowner’s insurance premium. This increases the amount of your monthly payment and can change if your insurance company raises or lowers premiums. Depending on your loan amount and property value, you may also have to pay private mortgage insurance (PMI) which protects a lender against loss if you default on your loan.
3. Property Taxes. In most cases, your annual property taxes will be paid through your lender. The lender collects extra money each month that they pay to your local government at the end of the year. When local taxes increase or decrease, so does your payment.
Call me today at 601-942-3392 or email me at Paula@PaulaRicks.com to help you find the home (and mortgage provider) of your dreams.
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
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Madison MS real estate buyers
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01.07.10
Posted in Madison MS Homes for Sale tagged Madison MS real estate buyers at 7:00 am by Mississippi Real Estate Agent
Once again, the clock is ticking for first-time home buyers to buy Madison MS homes for sale before the tax credit runs out. Extended in November, 2009, the first-time buyers’ tax credit is set to expire in April, 2010, and there are no plans for another extension.
What does this mean for you? If you’re a home seller, it’s time to look over your Madison MS home for sale, make sure all your t’s are crossed, i’s are dotted and that you’ve done everything you can to put your home at the front of the buying line. If you’re a first-time or repeat buyer hoping to take advantage of the credit, it’s time to start looking for your new home; the binding sales contract has to be signed by April 30, 2010.
Making the Buying Process Easier
Many times, the buying process can take forever. Red tape, failing negotiations and more has caused several possible sales to fall through. So, what can you do to make the buying process easier? Here are a few tips:
- Find out if you qualify for the first-time or repeat buyer tax credit. The home buyer requirements are many. If you can’t afford to buy a home without the tax credit, make sure you qualify.
- Shop for lenders before hand. Choosing a mortgage lender can be a lengthy process, so finding one you want to use before you start looking for a home will cut down on the time it takes to buy the house.
- Get pre-approved. Getting pre-qualified is the first step in the loan process, but it’s based on an estimate, not verified facts. By getting pre-approved for a mortgage, you know exactly how much you qualify for, and how much house you can afford. Because this is a large part of the buying process, once you’re pre-approved, the lender can expedite the rest of the deal for a quicker closing.
- Negotiate wisely. Remember that you’re on a time-line and try not to let negotiations with the seller turn into a contest of wills. Yes, negotiate, but make sure your counteroffer on the home is realistic.
Buying a great Madison MS home for sale before the tax credit expires is definitely possible, even with only four months to go. Following the tips outlined above can make the sale go as smoothly and quickly as possible.
Have questions about the home buyer tax credit? I can help. Call me now 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
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Madison MS real estate buyers
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12.21.09
Posted in Madison MS Homes for Sale tagged Madison MS real estate buyers at 7:00 am by Mississippi Real Estate Agent
Have you heard of the first-time homebuyer’s tax credit extension? Last month, President Obama signed the extension to help first-time homebuyers (who didn’t get their sales in by November 30th) buy a house that meets their needs. What about those who already own one of the Madison MS homes, are doing well and want a larger home?
To those who already own a home, Merry Christmas! The Workers, Homeownership and Business Assistance Act of 2009 didn’t just come with an extension; it came with improvements. Those in governmental positions of authority reasoned that if someone wanted to get a bigger home, they should get some kind of help too, thus further helping the overall real estate market.
If you own a home, you can now receive up to $6,500 in tax credits for buying one of the Madison MS homes for sale. The actual wording is “$6,500 or 10%.” Here are a few of the important points you need to know:
- Income Qualifications – Your modified adjusted gross income (MAGI) as a single taxpayer must be less than $125,000 ($225,000 if you file jointly). Partial credit may be received by those with a MAGI of less than $145,000 (single) and $245,000 (jointly).
- Home Ownership Qualifications – You must have lived in the home you own for five consecutive years out of the past eight to qualify. You do not, however, have to currently own the home you’re using to qualify. The key terms are “five consecutive years” and “in the past eight years.” If you lived in your home for five years straight, but sold it two years ago, you are still eligible for the tax credit. If you’re filing jointly with a spouse, both you and the spouse have to qualify.
- Cost Qualifications – The cost of the home doesn’t have to be more than the home you already own, but it does have to cost less than $800,000. As a side note, the government has put a definitive cap on the housing costs. If the home you’re looking at is a solid, non-negotiable $801,000, it isn’t eligible for the credit.
- Purchase Date – The final date for the purchases to be secured is April 30, 2010. The actual closing date must be finalized before June 30, 2010.
Most couples move into a home thinking they will “eventually” get a bigger home once they have a family. Then the family comes along, the house is full and they can’t buy a larger home due to financial issues. The tax credit is a perfect opportunity for families to find Madison MS homes for sale that fit their expansion needs. Take a chance and look around; your dream home may be only a city block and $6,500 away!
If you’re looking to expand and take advantage of the tax credit, 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
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Madison MS real estate buyers
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10.31.09
Posted in Madison MS Homes for Sale tagged Madison MS real estate buyers at 8:00 pm by Mississippi Real Estate Agent
Potential first time homebuyers are racing the clock to find the perfect Madison MS homes for sale. Who’s going to reach the finish line first? And… why are they racing?
Many of you have probably heard of the American Recovery and Reinvestment Act of 2009 (ARRA) by now. For those looking for Madison MS homes for sale that haven’t heard of the ARRA, first time homebuyers can receive up to $8,000 back in tax credits from the U.S. government. Singles and those married but filing jointly, have an $8,000 threshold, while married individuals filing separately have a $4,000 threshold.
Sounds wonderful, doesn’t it? With the tax credit, your taxes are matched dollar-for dollar. This means, if you owe $9,000 in taxes for 2009 and get the full $8,000 tax credit, you’ll only owe $1,000 in taxes. That’s quite a bit of money to save, especially now. Better yet, if you don’t owe anything, that tax credit may become a tax refund – $8,000 of refund, to be exact.
With all the homes available, why are first time buyers racing? Aren’t there enough homes to go around? Of course there are – in fact, millions of homes in the U.S. are waiting for a buyer. However, first timers want to take advantage of the tax credit, and it only goes until November 30, 2009.
You may think that’s still plenty of time, but it’s not, really. To qualify for the tax credit, you have to have the keys to your new house in hand and the sale finished by the ARRA ending date.
Should you be racing, too? Well, that depends. If you want to buy one of the Madison MS homes for sale, can realistically afford it and have been waiting for the best time, that time is here and almost past. However, if you want to buy a home, but can’t afford it yet, don’t let the tax credit push you into a tight monetary situation you can’t get out of. Take the time to build up equity and savings until you can buy a home you can afford!
If you’re a first time buyer wanting to take advantage of the tax credits, I can help. Call me now 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
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Madison MS real estate buyers
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09.14.09
Posted in Madison MS Homes for Sale tagged Madison MS real estate buyers at 7:00 am by Mississippi Real Estate Agent
There’s a group of individuals constantly overlooked when someone has one of the Madison MS homes for sale. It’s not just newlyweds, families and women looking for homes. Men are on the look out, too. So what are they looking for? Here are a few points on the list:
1) Location, location, location – Most men want a place close to their job. No long commutes, no hours on the highway. In fact, it’s one of their biggest considerations when choosing a home.
2) The Man Cave – Is your Madison MS home for sale set up with a man cave? Many men dream of having an extra room that can be converted into a place for recreation and entertainment. If you already have a man cave, you’re ahead of the competition!
3) Surrounding area – In a fun survey, Sperling’s BestPlaces examined America’s cities and marketing trends to find the “Top 50 Manliest Cities” in the U.S. Believe it or not, Nashville took the top place as the Mecca of manliness. Why? A few reasons:
o High number of NASCAR fans
o High number of BBQ restaurants
o Popularity of hunting and fishing
What other things did Sperling’s look at to decide “manliness?”
- Major league sports teams in a city, nearby NASCAR events, monster truck events and local drag racing strips, among other sports venues
- Memberships in motorcycle owner groups, bowling, hunting, woodworking, DIY home improvement
- Number of manly retail stores, such as steak houses, sports bars, general hardware stores, sportsman stores, etc.
- Percentage of houses subscribing to manly magazines
So what does all this mean to you? If you have one of the Madison MS homes for sale with manly decor as well as surrounding attractions, you have a match made in heaven for the busy bachelor. Okay, so women like monster truck events, motorcycles and DIY, too. And, okay, so the survey is a little silly. However, if you’re trying to sell that house and are having no luck, it’s definitely something to think about.
If you’re trying to sell your 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.
Ridgeland, Mississippi
www.PaulaRicks.com
Paula@PaulaRicks.com
Call direct: 601-942-3392
Tags:
Madison MS real estate buyers
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09.07.09
Posted in Madison MS Homes for Sale tagged Madison MS real estate buyers at 8:02 am by Mississippi Real Estate Agent
July saw the largest increase in home sales in at least ten years, which brings hope for all the Madison MS homes for sale. What’s the culprit for this more-than-expected rise? The first-time buyers tax credit!
The $8,000 tax credit for first time buyers who are eligible expires November 30, 2009. Buyers that otherwise may have stood on the side lines are rushing to find the home of their dreams in time for the closing to happen before the deadline. Thanks to that deadline, one out of three homes for sale are getting that coveted “Sold” sign.
So why should buyers beware?
If you’re holding off for a better time to buy one of the Madison MS homes for sale, you might never see it! Mortgage interest rates are at a historical low; housing prices are also much lower than they have been.
The tax credit is another excellent reason. If you’re a first-time buyer and close the deal before November 30, you get a 10% credit on the purchase price. That percentage caps out at $8,000. What can you do in a new house with $8,000?
Many buyers are looking at foreclosures, due to lower costs. While the foreclosures may not be in the best condition, the tax credit has helped them make repairs without taking a huge bite out of their wallet. You may have a foreclosure with $15,000 off the initial price and $7,000 in needed repairs. If you receive the full $8,000 tax credit, you actually end up saving $16,000!
So, if you’re honestly looking for a home to buy, go ahead. Take your time; make sure it’s a home you want. However, don’t take too long, because the Madison MS homes for sale are rapidly disappearing. Take advantage of the tax credit and the number of possibilities!
If you’re looking for a great 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.
Ridgeland, Mississippi
www.PaulaRicks.com
Paula@PaulaRicks.com
Call direct: 601-942-3392
Tags:
Madison MS real estate buyers
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08.21.09
Posted in Madison MS real estate tagged Madison MS real estate buyers at 11:22 am by Mississippi Real Estate Agent
Don’t wait to grab your $8,000 first-time homebuyer stimulus tax credit! Purchase your Madison MS real estate home or condo before the tax credit for first-time homebuyers expires on December 1, 2009.
The national housing market has continued to improve this year as first-time homebuyers take advantage of the stimulus tax credit. July 2009 home sales rose 7.2% to an adjusted annual rate of 5.24 million which is higher than the 5.0 million economists expected. Home foreclosures continue to make up a good part of home sales. As more foreclosures hit the market, there will be lots of great deals and more homes to choose from.
The local Madison County real estate market is improving and home sales were up 21% in July with 150 closings compared to 118 closings in June. The first-time homebuyer tax credit is helping to turn our local market around.
If you’re thinking about purchasing Madison MS real estate, you need to act now. Unless congress extends the first-time homebuyer tax credit, you’ll need to purchase and close your escrow by November 30, 2009. Get involved: Call your Senators and Congressmen and tell them to extend the homebuyer tax credit!
Besides the Federal Tax Credit, there are Madison County homes, condos and properties that are 100% financing eligible for Rural Development money. Or, you may be able to get up to 3% for your down payment from the Mississippi Home Corporation. NOW is a great time to buy a home!
Are you ready to look for a new home? I would love to talk with you and find out what type of home or condo you’re looking for. There are many homes for sale on the Madison MS real estate market and I can help you find one that fits your needs and price range.
To get your tax credit, call me today at 601-942-3392 or email 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 real estate buyers
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