Find Your Home in Picayune, MS

I've Moved My Blog!

2009-11-02T19:40:00.000-06:00

Please go to http://www.picayunehomefinder.com for updated posts on the Picayune and Pearl River County, MS, area.

Why Live In Pearl River County Mississippi?

2009-10-13T14:12:00.004-05:00

There are many factors that make living in the Picayune/Pearl River County are more desirable than living in the Metropolitan area of New Orleans, Louisiana (which is only 50 miles South of Picayune). The most important factor to many people who are considering moving to our County is the fact that most of Pearl River County, MS, is not in a flood zone. There are areas along the Pearl River, Boley Creek, and other waterways that are considered a flood zone, but the majority of the County is not. The elevation, starting at the South end of Picayune, in an area called Nicholson, starts at about 40 feet above sea level. The Carriere area hits between 120-180', and the Poplarville, MS, area has elevations in areas that go above 200'. Our population more than doubled after Hurricane Katrina in 2005, due to the fact that Picayune was the higher ground from the areas that flooded.

Another factor that appeals to many is the retirement aspects of Picayune, MS. Picayune has been certified as a Retirement Community. There is no State Income Tax for residents over 65, and there is a Homestead Exemption Credit for Seniors in Pearl River County. Picayune offers a Senior Center, off of Frontage Road, behind WalMart at I-59 Exit 4. You can find out more information about Senior Retirement perks by contacting Carol Fitzwilliam.

There are over thirty churches representing all major denominations, in the Picayune area. Churches and church related activities are an important aspect of life in our community, and in large part contribute to the friendly atmosphere and hometown values.

Commuters enjoy the peaceful surroundings of the Pearl River County area, while still being able to be within distance of jobs, and recreation. Many residents work in New Orleans and Slidell, Louisiana, or at the John C Stennis Space Center off of Exit 1, near Nicholson. Pearl River County is also a central location for commuting to the Mississippi Gulf Coast, or to Hattiesburg, MS.

Downtown Picayune offers quaint antique and gift shops, and a warm hometown atmosphere. The Picayune Street Fair, in April and November, bring people from miles around.

Come see what Pearl River County, Mississippi, has to offer you and your family!

Traditional Print Ads Won't Sell Your Home

2009-09-28T11:54:00.000-05:00

Gone are the days when you put an ad in a newspaper or magazine, and a flood of calls came in response to that ad. Unfortunately, most Realtors are still stuck in the past decade, spending a lot of money on print ads that just don't generate leads for their properties.
Consider this . . . if you are a buyer who is wanting to see what is available in the town you are looking in, where do you start? Do you drive to that town and pick up a local newspaper or home magazine, or do you fire up your computer from the comfort of your own home, and start searching?
Buyers are very updated on the market, and want to see pictures of the property. They are not going to be intrigued by a text description and single outside photo. Inside pictures are a must, to generate an interest for your Picayune area home.
I feel that it is very important to take several photos of the properties I list in the Picayune, MS, area. Panoramic Views give the buyer a tremendous look at what the rooms and property have to offer. A Visual Tour is a great tool for advertising a home. This is something that you just cannot put in traditional print ads. Buyers are interested in the look and features of your property. They just aren't going to be interested if they can't get a glimpse at what the property has. Sure, the words can be flowery and descriptive, but how many times have you seen a property advertised, and when you have gone out to see the house, it's NOTHING like you imagined it would be? The Realtor's job is to make the advertisement as appealing as possible. Pictures are worth a thousand words!
Here are a few examples of photos that I have taken of properties here in the Picayune, MS area (please click on the photo for a larger view):

In this photo you can get a wide look at the beautiful sitting area behind this home at 23158 Whitfield Road in Picayune, MS

In this photo you can see just how large this master bedroom of this North Hill Home I sold in Carriere, MS, really is. A traditional photo would never had been able to incorporate all of this room.

Using stiching software, I was able to create a panormic view of the main rooms of this Hidden Hills home that I just sold in Picayune, MS. When this photo is run through the Visual Tour software, it gives you the feel of standing right inside the house.

Here are a couple of examples of homes I have listed that have a Visual Tour. Check out the Visual Tour of this wonderful home in the country in Carriere, MS:

And get a look at the panoramic views of the private 23 acre lake in this fabulous estate in Henleyfield, in Carriere, MS (click this link and you will also see the blog for this property):

As you can see, these properties have the advantage over properties that are listed and advertised in newspapers and such.

If you are interested in selling your home, give me a call and let me show you how your home can be given the Strategic Marketing advantage!

Stinky House = No Sale

2009-09-14T16:51:00.000-05:00

A buyer's first impression of a home is absolutely one of the most important things to consider when it comes to selling your home, especially in a difficult market where there is a lot of competition. Many people worry about curb appeal, how the lawn looks, how the front door looks . . . and those things are very important. BUT there is one thing that many sellers fail to consider when putting their house on the market. . . HOW DOES THE HOUSE SMELL?

I attended a Realtor Open House this afternoon, where a local Picayune Realtor was showcasing the house to all Realtors in the area giving them the opportunity to know the house and possibly match it with one of their buyers. When I opened the door and started to walk in, the overpowering smell of cigarette smoke hit me like a ton of bricks. My lungs seized up, and my eyes started to water. And the problem wasn't that a Realtor was smoking in the house - the problem was that the Sellers smoke in the house on a regular basis and the house oozes the smell out of every pore.

Buyers are very sensitive to the sights, sounds, and smells of a house they are considering buying. I can tell you from experience that if a house smells, the buyer isn't going to spend much time looking at it not matter how beautiful it is, or how perfect it might be for them. Their thought is "How am I ever going to get that smell out?"

Problem is that sellers don't always realize that their house smells. If you are around a smell long enough, your nose will adjust and it's not so noticeable anymore. If you smoke, you don't realize how the smell clings to your clothing, your carpeting, your walls. Pets can also emit odors (especially overloaded cat boxes, or wet dog bedding). And if the house sits empty, without any air conditioning circulating the air, or with moisture trapped in, it can smell like mildew, which is another smell that grabs my lungs like a vice grip.

When you put your home on the market, you have to start thinking about it as a marketable item, and not your home (after all, you're not going to be living there once it sells). You have to look at your home from the eyes of a Buyer, and the nose of a Buyer too! If you smoke, air out the house, Febreeze the furniture, set up some air fresheners (the ones that plug in the wall work pretty well - and I recommend a cinnamon smell), and for Heaven's sake - - - go outside to smoke every time until the house sells!

Now, if you have pets, be sure to keep cat boxes cleaned regularly (right before a house is shown is the best because chances are Fifi just came out of there and left a present for you), remove the dog bedding, and take the pets with you when you leave for the showing.

Happy homes appeal to Buyers, and a happy home is one that smells good, and invites you in.

Time for Tax Credit Running Out!

2009-09-07T10:19:00.001-05:00

The First-Time Homebuyer Tax Credit, made available through the American Recovery and Reinvestment Act, is coming close to expiring. In order to take advantage of the $8,000 tax credit, you must close on a house on or before November 30, 2009.

This tax credit is available to "first time home buyers" (anyone who has not owned a home over the past 3 years). There are a few other stipulations to receiving this credit.

The tax credit is 10% of the purchase price of the house, up to $8,000. Therefore, if you use this credit to purchase a $30,000 home, you will only receive a $3,000 credit.
It must be your primary residence where you live more than 50% of the time and you will have to do so for three years or the government will take back the credit when you sell the home.
To get the full credit, your modified adjusted gross income must be under $75,000 for singles and less than $150,000 for married joint filers.

If you are interested in taking advantage of this Federal Tax Credit, you must find a home and enter into contract before the end of September due to the time frame that it takes to get your offer accepted, completing inspections, and processing a loan. This process is now taking up to two months, depending on the lender you choose. Keep in mind that if you do not close the sale on the property on or before November 30th, you will not be eligible to receive this tax credit.

It's a great time to find that home you are looking for, and receive the great credit on your taxes next year! If you are ready to take advantage of this tax credit, give me a call. We'll find that perfect home for you!

Save Money with a Home Inspection

2009-09-03T22:47:00.002-05:00

Short Sale Possible on this 4 Bedroom Carriere Home

2009-09-03T14:25:00.002-05:00

4 Bedrooms, 2 Full Baths, Built in 2005 on 3.75 Acres!

Facing Foreclosure

2009-09-02T18:36:00.003-05:00

A record 5.4 million American homes were in or approaching foreclosure at the end of 2008. Chances are good that someone you know — the family down the street, a colleague in your office, a cousin, a college friend — is in foreclosure trouble. Or maybe it’s you. If so, you’re wondering where to get assistance. Amid the spiraling crisis in U.S. housing markets, Cyberhomes offers informative articles and expert resources to help homeowners (and even home buyers) make sense of foreclosure. . . . See this special report - Cyberhomes - Facing Foreclosure.

Home Sales for Picayune and Pearl River County. MS

2009-08-31T15:54:00.008-05:00

The chart above shows the Residential Home Sale activity for Pearl River County Board of Realtors, over the past 3 years. Since we are at the end of the 3rd Quarter, I wanted to give everyone an idea of what the market is doing in our area.

I have created this chart to compare the past three years of home sales. The blue bar represents 2007, red represents 2008, and green represents 2009. As you can see, our sales over the past two years have been significantly lower than 2007. What's interesting to see is that there has been a drop in the number of house sales between 2008 and 2009, so far this year. Using the existing numbers for 2009, and calculating if we did the same amount of sales this next quarter as we did during the last quarter of 2008, we are at a 7% decline in home sales.

The good news is that new listings in 2009 declined from the 2008 numbers with 734 homes being listed in 2008 and 695 listed in 2008. Unfortunately it hasn't been a significant difference, and there is still an over-supply of listings this year, maintaining a buyer's market.

Some of the issues that we have faced this year that have impacted the ability for buyers to purchase homes has been the hike in credit score requirements for FHA loans, and lower appraisals due to the new HVCC (Home Vaulation Cope of Ethics).

It's important to remember that Real Estate is "local", meaning that each area is affected by a variety of factors and may not be at the same level of growth or decline that other areas are experiencing. While there is news of some areas starting to move in a positive direction, we have not seen that in our local market. It is my hope that the last quarter of this year will change that perspective.

If you have any questions about this information, please contact me via my website at www.prchomes.com.

Searching for A Home in Picayune, MS

2009-08-26T11:52:00.003-05:00

Find your new home in the Picayune, MS, area at Pearl River County Homes

How will Buyers find YOUR home?

2009-08-08T13:14:00.002-05:00

With so many homes on the market today, a new property listing can get lost in the sea of listings, even in a small town. When you are a seller needing to sell your home, you don't need just a sign in your yard, and a hope and prayer that the realtor you have chosen will miraculously find a buyer. That may have worked in the past, but I'm sorry to tell you that it doesn't work in this market, today.

With Strategic Marketing, Pinnacle Real Estate Services markets your home in a variety of ways to put it out in front of more buyers. Your home can't be the best kept secret. Let's face it - You've picked up a real estate magazine that "showcases" the houses for sale in any given area. What do you notice about those pages? Are there many differences between one ad and another, or are they a sea of house pictures and a picture of the listing agent tell you how great they are and all the awards or designations they have received? Is it easy to really spot which ones are in your price range, and have the features that you are looking for?

Now let's talk, for a minute, about where the buyers are. Now, if the buyer lives in the town your home is in, then it's possible that they will see that real estate magazine ad. But what about the enormous amount of buyers that are relocating to your area? Do they drive in to town just to pick up all the magazines and newspapers to see what houses are for sale? Where would they likely start their home search?

Pinnacle's Strategic Marketing advertises your home, not only in print, but on over 30 individual websites across the internet, with emphasis on the unique features that your home provides. To see an example of one of the many ways a property is marketed using Pinnacle's Strategic Marketing, go to 23158 Whitfield Road.

Your home needs a great amount of exposure in today's market to catch the eyes of the buyers who are actively in the market right now. Shouldn't you get the best marketing available for the commission you will be paying?

For more information about Strategic Marketing by Pinnacle, call Michelle Fradella, Broker, at Pinnacle Real Estate Services in Picayune, Mississippi. 601-799-1848 or 601-569-0075

http://www.PRCHomes.com

What is the $8,000 Tax Credit?

2009-08-05T11:40:00.003-05:00

You've heard a lot about the First Time Home Buyer's Tax Credit, but what do you need to know about it, and who really is eligible for it?

Buy and close on a home by November 30th, 2009, and you may qualify for up to $8,000 in a federal tax credit that does not have to be re-paid. Keep in mind, however, that this is not money that is given to you at the closing table. You have to claim it on your taxes the following year, in order to get the credit.

Anyone who has not owned a home for the past three (3) years can qualify for this tax credit, therefore you don't have to actually be purchasing your "first home". The actual amount of the credit is 10% of the purchase price of the home, with a maximum of $8,000. So, if you purchase a house that is less than $80,000, you will receive a smaller credit.

To get more details about this credit, check out the PDF file from the Mississippi Association of Realtors here: http://www.msrealtors.org/PDF/BuyNow/flyer_hi_res.pdf

Pride of Ownership

2009-07-17T11:04:00.010-05:00

Volunteers from the North Hill Property Owners Association helped out with the maintenance and clean up of the entrance of the subdivision this past Saturday, July 11th. It was an extremely hot morning, but residents who care about their subdivision showed up to assist in weeding, pressure washing, trimming, and clean up to spruce up the main entrance of North Hill.

Looking for a Home in Picayune or Pearl River County, MS?

2009-07-11T00:14:00.003-05:00

Forget looking through all the print advertising out there to find a home. Most of the publications can be a month old, and the listing you might be interested in could be long gone.

Get up-to-the-minute access to ALL listings in the Pearl River County area, including Picayune, Carriere, McNeill, and Poplarville (and adjacent counties), by logging in to my website at Pearl River County Homes.

With your name and email address you can create an account and have access to search ALL property for sale in our area. This database is linked to our MLS, and you can search by area, school district, square footage, price, etc. Be sure to input a valid email address, though, because the system will email you a password to get in. You will need to pay special attention to the Captcha box, though (that irriating box that wants to make sure you are a real human by asking you a question and asking you to type something in). Normal Captcha boxes ask you to type the letters in the image, but this one MAY ask you to type the COLOR of one of the letters, instead. Just a word of warning, if you find it isn't working for you.

You can also click the "Auto Home Finder" option, and set the system up to email you when listings come up with your certain criteria. This will notify you as soon as a new listing is posted in the Multiple Listing Service (MLS).

Take a look what we have available in your price range, and be sure to call me if you have any questions about a particular listing, or if you are ready to start the home search process!

School Registration Starts

2009-07-06T12:05:00.004-05:00

Pearl River Central School System is starting their student registration today. Here is their schedule:

07/06/2009 02:00 PM - 07:00 PM
Registration - Last Names A thru C

07/07/2009 02:00 PM - 07:00 PM
Registration - Last Names D - I

07/08/2009 02:00 PM - 07:00 PM
Registration - Last Names J - M

07/09/2009 02:00 PM - 07:00 PM
Registration - Last Names N - Sm

07/10/2009 02:00 PM - 07:00 PM
Registration - Last Names Sn - Z

Access more about the Pearl River Central, MS School District (including elemetary school supplies lists) at PRC Link

The Picayune School District will be holding their student registration on:

July 28th - 11am - 6pm
July 29th - 8am - 3pm

Access more about the Picayune School District at Picayune, MS School District Link

Great News for Mississippi Home Owners!

2009-07-01T15:01:00.003-05:00

According to Derek Easley, Governmental Affairs Director for the Mississippi Association of Realtors, Mississippi Legislature recently passed a bill infusing an additional $20 Million into the State Wind Pool, and it's headed to Gov. Haley Barbour's desk. The appropriation for the Mississippi Insurance Department for this next fiscal year contains a total of $40 Million for reinsurance programs aimed at offsetting premium increases in the wind pool.

The Mississippi State Wind Pool is the insurer of last resort for homeowners who are unable to obtain or afford wind and hail insurance through other sources. This bill should reduce wind pool rates. Subsidizing the wind pool is a short term plan, but one that will hopefully stimulate the economy along the Mississippi Gulf Coast for 2 to 3 years, giving private insurance additional time to return.

The hope is that the recovery efforts along the Mississippi Gulf Coast can progress quicker and give the overall economy in Mississippi a boost.

FloodSmart.gov Improvements to Website

2009-06-26T16:29:00.003-05:00

FloodSmart.gov has recently made some valuable improvements to better serve you and illustrate your need for flood insurance!

Mapping Changes

With the large amount of areas in the U.S. undergoing significant map changes, the NFIP has added content addressing topics such as:
- What is a map change?
- What does that mean for you?
- How does this change affect your flood insurance policy premium?
You can also find information on living near a levee and all of the different map change scenarios.

Toolkits

The Levee, Map Change and Flood Outreach toolkits are now available on FloodSmart.gov. With the new easy-to-use functionality you have all the tools and resources in each toolkit at your finger tips. These toolkits are also a useful asset in sharing information in your community to increase awareness.

Be sure to check to see if this affects your area of Picayune, or the Pearl River County, MS, area.

Visit www.FloodSmart.gov to asses your risk and contact an agent today.

Prepare for Hurricanes by Safeguarding Tax Records

2009-06-23T15:34:00.002-05:00

Great tip from the IRS:

WASHINGTON — With the 2009 hurricane season now underway, the Internal Revenue Service encourages individuals and businesses to safeguard themselves by taking a few simple steps.

Create a Backup Set of Records Electronically

Taxpayers should keep a set of backup records in a safe place. The backup should be stored away from the original set.

Keeping a backup set of records –– including, for example, bank statements, tax returns, insurance policies home, etc. –– is easier now that many financial institutions provide statements and documents electronically, and much financial information is available on the Internet. Even if the original records are provided only on paper, they can be scanned into an electronic format. With documents in electronic form, taxpayers can download them to a backup storage device, like an external hard drive, or burn them to a CD or DVD.

Document Valuables

Another step a taxpayer can take to prepare for disaster is to photograph or videotape the contents of his or her home, especially items of higher value. The IRS has a disaster loss workbook, Publication 584, which can help taxpayers compile a room-by-room list of belongings.

A photographic record can help an individual prove the market value of items for insurance and casualty loss claims. Photos should be stored with a friend or family member who lives outside the area.

Update Emergency Plans

Emergency plans should be reviewed annually. Personal and business situations change over time as do preparedness needs. When employers hire new employees or when a company or organization changes functions, plans should be updated accordingly and employees should be informed of the changes.

Check on Fiduciary Bonds

Employers who use payroll service providers should ask the provider if it has a fiduciary bond in place. The bond could protect the employer in the event of default by the payroll service provider.

IRS Ready to Help

If disaster strikes, an affected taxpayer can call 1-866-562-5227 to speak with an IRS specialist trained to handle disaster-related issues.

Back copies of tax returns and all attachments, including Forms W-2, can be requested by filing Form 4506, Request for Copy of Tax Return. Likewise, transcripts can be ordered using Form 4506-T, Request for Transcript of Tax Return. Returns or transcripts can also be ordered by calling 1-800-829-1040.

There is no fee for a transcript or tax return copy for a taxpayer located in a federal disaster area qualifying for individual assistance. Taxpayers should put the assigned Disaster Designation in red ink at the top of the request form.

Listen to the postcast here.

Strategic Marketing

2009-06-08T16:05:00.001-05:00

Hurricane Season Is Upon Us

2009-05-29T09:54:00.003-05:00

June 1st marks the beginning of Hurricane Season, and it's just around the corner. The Federal Emergency Management Agency and Mississippi Emergency Management Agency encourage Mississippians to consider protecting their homes, businesses and valuables with a flood insurance policy.

Sooner is better than later, because there is a 30-day waiting period once the policy is written, and if you wait until a tropical storm breaches the Gulf of Mexico, insurance companies will not write new policies.

If you are unsure if your property is located in a flood zone, you can go to FEMA's Map Service Center www.msc.fema.gov and view the latest flood map for your community. Just type in your street address, and the correct map will be displayed.

Those who are not in a certified flood zone really should still consider having the additional flood coverage in their insurance portfolio. The policy is a lot cheaper if you are not in a flood zone, and it's extra peace of mind that if your home is damaged by water, you can be covered.

To purchase flood insurance, residents should contact their insurance agents. To locate an agent who sells flood insurance in your area, go to www.floodsmart.gov and enter your home address into the One-Step Flood Risk Profile. This online tool will also estimate your level of risk as well as your premium.

What is a Home Warranty?

2009-05-27T08:47:00.002-05:00

Call me to have an HWA Home Warranty set up on your house!
Michelle Fradella - Pinnacle Real Estate Services
601-799-1848
Pearl River County Homes

Want To Improve Your Credit Score?

2009-05-16T23:44:00.000-05:00

Back To The Basics

2009-05-08T22:49:00.004-05:00

Many people are concerned about the lending requirements and assume that banks and mortgage companies are not lending money. The truth is, they are just reverting back to the traditional lending practices of the late 90's, before the sub-prime lenders took hold and the guidelines became so loose, which is what put us in the current market predicament.

Now that we are back to a more traditional lending keel, you will most likely see the following adjustments:

1. Income: Banks may begin again to use qualifying ratios, income and debt ratios. The borrower’s income is multiplied by a percentage. The resulting number is the maximum that the bank will allow a borrower for PITI (Principal, Interest, Taxes, Insurance), a higher percentage is used for PITI plus installment debt.

Installment debt refers to monthly payments on car loans, student loans, minimum payment on credit cards, child support etc.

Gross Income X % = PITI (Principal, Interest, Taxes, Insurance)

Gross Income Y % = PITI plus installment debt.

Prior to 1997 Conventional ratios were 28% for PITI and 36% including debt. FHA and VA were 29% and 41%.

2. Money – For conventional financing, the banks require that the borrower have anywhere from five percent (5%) to 20 percent (20%) of the purchase price of their own money available and accountable. This amount will likely depend on the credit score of the buyer. Lenders require a verification of this and the money has to be "seasoned" (in the borrower’s account for at least six months). This money can not be gifted from another source.

3. Employment – Lenders required written verification that the borrower was in same profession or line of work for a minimum of two years.

4. Credit – In addition to looking the credit scores the lenders scrutinize the entire report itself. They want explanations of late payments and defaults. They do not like to see a borrower with a lot of active but unused credit cards because of the potential for over borrowing after closing.

If you have any questions, call me, Michelle Fradella, at 601-569-0075 or email me at michelle@prchomes.com.

Executive Home on over 5 Acres with Pool

2009-05-06T08:28:00.002-05:00

Just North of Picayune, in the North Hill Subdivision.

Are Mortgage Companies Still Lending?

2009-03-31T15:35:00.007-05:00

There is so much speculation in the media today about whether or not banks and mortgage companies are lending. The media blows a lot of things out of proportion, so I wanted to give you the information you need as a buyer in today's market.

I have interviewed Jessica Tebo at Well's Fargo Home Mortgage, to get all the information you need about loans to be an informed buyer in today's market. Click below to listen in to this pre-recorded call:

Understanding "Agency" In Mississippi

2009-03-24T16:10:00.006-05:00

What is "agency"? What do I need to know as a Buyer?

Get more information at www.prchomes.com/buyer.html

New Buyer Tax Credit

2009-03-04T08:52:00.002-06:00

With the new stimulus package comes an increase in the New Home Buyer Tax Credit. The old credit was actually a loan, to be re-paid over a 15 year period. The new tax credit is $500 more, and is NOT a loan. But there are some stipulations, so it's important to get as much information as possible.

$8,000 Home Buyer Tax Credit at a Glance:

* The tax credit is for first-time home buyers only (if you have owned a home over the past 3 years, you are not eligible).
* The tax credit does not have to be repaid.
* The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
* The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
* Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

To find out more about this tax credit, visit the Federal Housing Tax Credit Site.

Market Update for Pearl River County

2009-02-26T18:01:00.005-06:00

The market in Pearl River County saw a little flurry of activity during the month of January. There were 26 Residential Homes sold, 5 of them being in the $60,000-$69,000 range, and 5 of them in the $120,000-$139,000 ranges. The top price bracket for January was $300,000-$399,000 price range, in which one house was sold.

For a list of the houses sold during January, go to: http://www.navica2.net/displays/?n=349&i=273898&k=8nmb

Currently, there are 415 Houses and 25 Mobile Homes for sale. 76 of those houses were listed for sale within the past 30 days. At the current rate of absorption, we have over 16 months of residential inventory.

The interest rate, as quoted by The First Bank, as of today, is 5%. If you are currently in the market to purchase a home, now is the time! Spring is on its way and the buying season is upon us. Now is the time that you will find the best deals. There are great properties with great prices out there! If you're interested in seeing what's available in the Pearl River County area, go to www.pearlrivercountyhomefinder.com.

Important Points for When Your Home Is Shown

2009-02-14T15:28:00.006-06:00

When your home is on the market, it's important to make it readily available to be shown to prospective buyers. Here are some tips to help you get ready:

• Increase your chances. The more people who see your home, the more likely you are to sell it quickly. Yes, it’s inconvenient to show your home at dinnertime, but if the people buy your home, isn’t it worth it?

• There shouldn’t be any major housecleaning at this point. The kinds of tasks you ought to be concerned with now are simple ones: making the beds, stuffing last night’s dirty pans in the dishwasher, picking up loose newspapers, etc. Even young children can participate by “cleaning” their rooms.

• If the season is appropriate, open the windows in each room and let in some fresh air. Stale air isn’t appealing. And if you smoke . . . do it outside while your house is listed. Non-smokers are very sensitive to stagnate smoke smell, and nothing is more of a turnoff.

• Keep your thermostat at a comfortable setting. If it’s too cold or too hot, a buyer won’t stick around very long to really see what your home has to offer.

• Turn on all the lights for every showing before prospective buyers arrive. This also gives you an opportunity to select the lighting effects you want for each room. No area of your home should be dark.

• Turn off the television and turn on light, background music.

• Arrange for pets and children to be at a neighbors. Perhaps it’s unfair to lump children with pets, but young children can distract buyers from their purpose. Keep pets away from buyers.

• “De-personalize” the house as much as possible. Take down any extra family pictures that are hanging on the walls or displayed on the shelves. They will often distract the buyer’s attention from what is most important ... the house!

• Most importantly, please leave the home during all showings. It is uncomfortable and difficult for buyers to view the home when owners are present. Oftentimes, they will rush through the home and not give it the proper attention your home deserves. It is also hard for the buyers to “picture themselves” living in the home when the sellers are present.

For more tips when selling your home, see my Seller's section at Pearl River County Homes.

Ready for a For Sale Sign?

2009-02-10T14:14:00.006-06:00

When thinking of selling your home, there are many things to do before calling a Realtor and having a sign put in the yard. Many people assume that they should first have the house put on the market, and THEN start to fix the things that need repair.

First things first, you should Think like a Buyer! If you were out looking for a new home, would you be impressed with one that the seller “promises to repair”, or one that is freshly painted, clean, and ready to move into?

Start Making a List! Put yourself in the buyer’s shoes. Walk out your front door, go right out to the street, and then turn around. Now take off your owner’s goggles (you know, those rose-colored glasses you wear when looking at your home), and look that house in front of you. What do you see? When you look at your house from a buyer’s perspective, you will be amazed at what pops out at you. That gutter that is hanging a little, the shutters that are weather-beaten and in need of paint, the tarnished door knob . . . all those little things that you have been meaning to get to, but just haven’t found the time. How impressed would YOU be if you were a buyer coming to see this house for the first time?

Do Everything Before Putting Your Home on the Market! Of all the things homeowners control when selling their home, the condition of the property is one of the most important. If the carpets need to be cleaned, then call a professional. Believe it or not, dirty or worn carpets could cost you $10,000 on your asking price. And don’t forget that leaky faucet, or loose toilet. Buyers are going to scrutinize every aspect of the house. Don’t give them any ammunition when it comes time to negotiate.

I highly recommend for a seller to have a licensed Home Inspection, to see if there are any issues that need to be addressed. This puts you in a better position in your pricing when you already have made repairs, and can present to a buyer a home free of defects. Nothing is worse than having a buyer who wants your home, and then when they have a home inspection completed, problems arise and they have the opportunity to back out of the deal. I have seen many deals lost because something was discovered, after the contract, and it spooked the buyers. Even if you offer to take care of things, the buyer may have that nagging feeling in the back of their mind that they should have seen it and now they’ve lost that warm fuzzy feeling about buying the home.

The moral of the story is that you should remove all worries ahead of time in order to be in a better position to get more money for your home.

For more information about selling your home, go to www.prchomes.com.

Interest Rates hold steady

2009-02-09T16:08:00.004-06:00

Over the past week, interest rates have held firm at about 5% for Conventional and FHA/VA financing. If you have an existing mortgage that is currently at 6% or over (and you've been in that mortgage for over 6 months), now might be the right time to refinance and save money each month on a lower payment.

If you have any questions on doing that, give me a call. I'd love to help you in the right direction. There is no charge for this service, and I don't get paid any type of referral. I just enjoy helping people make their lives a bit easier. It's one of the many things that we do at Pinnacle Real Estate Services. For a list of other services, give me a call.

Upcoming Events at the Crosby Arboretum in Picayune

2009-01-07T23:03:00.003-06:00

PINE NEEDLE BASKET WORKSHOP
Saturday, January 24
9:00 a.m. – Noon

Join Judy Breland, Stone County Extension Agent, for this adult workshop to learn the art of pine needle basket-making. Participants can complete a small basket by the end of this workshop, and will learn the methods for continuing with future projects. Wear old clothes. All materials will be provided. Admission is $4 for members and $6 for non-members. Please register by January 22.

FORGE DAY:
BLACKSMITHING & METALWORKING WORKSHOP

Saturday, January 31
9:00 a.m. - 4:00 p.m.

A fun day of demonstrations and a great learning opportunity for those interested in getting started in metalworking! Terrell Pickett, the blacksmith who exhibited at November’s Piney Woods Heritage Festival, will return with Mississippi Forge Council members to showcase various metalsmithing techniques. All are welcome to try their hand at the forge, including children from age 8 and up (with parent or guardian). Safety equipment for participants will be provided. Bring the family! Free for Arboretum members; $4 for non-members. We would appreciate those planning to attend, to please call to sign up by January 29.

Please call the Arboretum office at (601) 799-2311 to sign up for these workshops. The Crosby Arboretum is located in Picayune, MS on Ridge Road (between Wal-Mart and Interstate 59) at Exit 4. Please park in the Visitors Lot and take the main trail 450 feet to the Visitors Center.

2008 In Review

2009-01-03T11:07:00.005-06:00

Well, 2008 is finally over, and there are many Realtors, Loan Officers, and other business owners that are not sorry to see it leave. The real estate market in Pearl River County saw its fair share of disappointment. The numbers are in, and it's time to analyze where we've been.

Pearl River County realtors closed $54,716,889 in residential sales volume during 2008. That may sound like a great number, but compared to the $74,927,811 that was closed in 2007, a difference of $20,210,922, the number is bleak. The average residential sales price came out at $148,687, down from $160,102 in 2007.

Currently, there are 432 houses or mobile homes, and 734 parcels of land for sale in Pearl River County, MS. It is certainly a buyer's market.

So where have the buyers been? What factors have played a role in the drop in numbers? I think the biggest thing that we have all dealt with this past year is the enormous hike that took place in gas prices during most of the year. It affected every aspect of our society because of the huge jump in cost to transport products across the country. Granted, the prices have plummeted recently, but there is a great mistrust in the petroleum companies, and many people just aren't comfortable jumping out and spending again. The media has also played a great role in sparking fear in the hearts of all who will listen.

There's also a misconception that banks aren't lending. It's been my professional experience that people with less-than-perfect credit scores (620 and above) have still been able to obtain financing. The interest rates, as quoted by Luann Watkins at The First Bank of Picayune (601-798-2897), ended off the year between 4.8%-5%. Of course, credit scores determine the interest rate offered each individual case.

Many buyers are not aware that there is a government grant program for buyers to assist them with their down payment. It's a bond program in conjunction with the GOZone money grants. Jessica Tebo at Chase Bank in Picayune (601-337-0141) has a wealth of information on that program.

So where do we go from here? 2009 has every opportunity to be a great year. It's all in what we each make of it. Home ownership is still the best investment - the stock market has proven that.

How will you start 2009? Will you let the media's gloom and doom keep you down, or will you look for the blessings that we as Americans benefit from each and every day and move forward to be positive and look for the good in all things? There are opportunities out there; we just need to look for them.

I know that I, personally, am starting 2009 on a positive track. Pinnacle Real Estate Services has a lot to offer buyers and sellers in real estate assistance. Why don't you call me and find out what we can do for your specific real estate needs?

Interest Rates Today

2008-12-12T12:15:00.003-06:00

I wanted to give you an update of what the interest rates are doing at this time. As you can see, they are very low, and have been fluctuating between 5% and 5.25% for the past two months. There are many programs out there that work for people with credit scores who are not perfect. Don't believe everything you hear on the news. If you are interested in purchasing at this time of year, the best thing to do is contact a loan originator, and find out what will work for YOUR situation! Keep in mind that there are many ways to get "100%" financing (or close to it), which include asking the seller to pay closing costs, and other methods.

Rates from The First Bank, as of December 12, 2008

Conventional*	30 Year	15 Year
$175,000 - $417,000	*4.875*	*4.750*
$100,000 - $174,999	*5.000*	*4.875*
$ 75,000 - $ 99,999	*5.000*	*4.875*
$ 50,000 - $ 74,999	*5.125*	*5.00*
$ 49,999 and below	*5.250*	*5.125*

FHA Loans	*5.250*	*5.000*
VA Loans	*5.250*	*5.000*
Rural Dev. Loans	*5.000*	*n/a*

The first step in looking for a home is getting your financing established. This will give you a competitive edge when we find you a home and you are ready to make an offer.

If you would like more information on obtaining financing, call Luann Watkins at The First (601-798-2987) and see what she can do for you!

Come Home to Picayune

2008-11-19T10:09:00.004-06:00

For more information about retiring in Picayune, go to http://www.visitmississippi.org/retire/picayune.htm

Warning - Out of State Tags

2008-10-21T23:14:00.002-05:00

There was an article in the Picayune Item this week that many new residents should read:

http://www.picayuneitem.com/homepage/local_story_292191001.html

If you move to Mississippi, you have 30 days from the date of residency to change your license plates to Mississippi tags, or you can be given a ticket - and it will be more costly than you can imagine!

Be sure to read the entire article, because this doesn't just involve those who file for Homestead Exemption.

Why Sellers Don’t Save Money by Selling on Their Own

2008-09-13T09:47:00.001-05:00

“Why should I use a Realtor?” I know this is a question that many sellers ask themselves. After all, can’t you just do it yourself and “save the commission”?

You could. But let me ask you something . . . How much training do you have in negotiations? You have to put yourself in a buyer’s shoes. A buyer who calls on a For Sale By Owner (FSBO) is expecting to save some money, so they take the commission off the asking price – I mean of course you as a buyer don’t want the seller to keep that fee if there isn’t an agent involved! Now the buyer feels that there is some room for negotiating off of the discounted price, so they make an “offer” on that - Usually another 3-5% off the net price.

Now subtract the cost of all the advertising you will need to do in order to get the word out about your property. You will need to put classified ads in the newspaper (not a cheap venture), and run ads on the internet on “FSBO” websites that make you pay $1500 or more UP FRONT, even if the property doesn’t sell. You’ll need to buy signs for your yard, and try to find as many other ways as possible to let people know your property is for sale.

We are currently in a buyer’s market, which means that buyers now have a huge amount of homes to look at and consider when making a purchase. What makes yours stand out more than all those listed? Who will actually know that your home is for sale? How is your home going to be in front of all of those people who are working with a realtor, looking for a property like yours? The only way you are going to get it to stand out is to ask for less than market value, so your property is a “better deal” to the buyer.

Now take into consideration all of the relocation buyers, and first-time homebuyers that are either not going to even know your property exists, or are not wanting to deal directly with the seller without having someone there to help them make the right decisions and help them get financing? A relocation buyer doesn’t get the local newspaper, and they certainly don’t have much time when they are here to drive all over creation and happen upon your sign. If you are looking to purchase property in a new area, where would you start to look? . . . www.Realtor.com. Then their relocation coordinator sets them up with a broker in the area they are moving to, and they are off to see properties.

If you have a mortgage on your property, every month that it doesn’t sell takes the money you are paying in interest payments away from your profit. Say your interest each month is $600 (and that is usually on the low side). When you wait 8 months, you have lost another $4,800.

So, if you started out asking $200,000 for your property (hoping that it is priced at market value so you can sell it or it at least attracts some attention), you then subtract the commission, advertising expenses, and interest payments, not to mention the amount the buyer haggles out of you negotiating the price. How much profit do you have left? And who is there to consult you if something goes wrong with the sale, or the buyer can’t get financing? Do you know what financing opportunities there are for a property like yours? Do you have a plan B for the buyers if they can’t get the loan?

Selling your property on your own might save you paying a commission, but it will also keep you from walking away with as much as you would have if you’d had an experienced, licensed, full-time professional do it for you.

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Tax Increases for City of Picayune

2008-09-12T09:53:00.001-05:00

Millage in the city is expected to increase by about 3 percent when the City Council votes on a tax increase proposal on Monday, Sept. 15.

According to the documentation, the increase will mean the owner of a home valued at $100,000 can expect an increase of about $14 per year with homestead exemption. If that homeowner was paying $699.70 in annual city property taxes, then it will increase to $714.10. Without homestead exemption, the tax rate will be five percent higher.

See the entire story here

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Picayune Down Town Events

2008-09-12T09:05:00.003-05:00

Picayune Main Street, Inc. is an organization comprised of a group of volunteers, who participate in and work to advance a new vision for the Picayune community.

Here is a schedule of upcoming events that Picayune Main Street will be holding:

2008 Picayune Main Street Events

October October 3 & 4 Fall Sidewalk

November 1 & 2 Picayune Street Fair- Colgate Country Showdown

Nov.22 Christmas Open House

December 5 Shop By Candlelight- Carriage Rides, Live Nativity, Carolers

December 9 Christmas Luncheon with City

December 14 Community Christmas In The Park

December 19 Late Nite Shopping

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Announcing "RealTouch" by Pinnacle Real Estate

2008-09-09T22:29:00.003-05:00

Many people assume that Realtors only market and sell properties. I can assure you that Pinnacle Real Estate Services offers you so much more.

Let's face it . . . your days are stressful enough as it is. The last thing you need to worry about is obtaining reliable information when you are in need of assistance. That's where we come in. Our Real Estate Consultants are trained to assist you in all aspects of Real Estate, from the true market value of your home, to retirement planning, and everything in between.

Even if you're not thinking about buying or selling a home right now, there are services you may need in other aspects of your life - for example, all of us have to purchase car insurance, file taxes, etc. You know there's just a lot of things in life, like it or not, that we have to go to professional people for. You'll save yourself an incredible amount of time and money, so even if you're not in the housing market right now, you'll find this package of services beneficial to you and your family.

Services We Can Offer You:

- Competitive Market Analysis
- Home Equity Analysis
- Sale Preparation
- Local Real Estate Report
- First-Time Homebuyer Assistance
- Auto-Search of Listings
- Ask An Advocate - Consulting Services
- Quality Referral Network
- Relocation Assistance
- Rent Potential Analysis
- Free Notary Services
- Free Fax and Copy Services

These services are being offered to you at no cost or obligation. We all know how hectic life can be. Let Pinnacle Real Estate Services be of service to you in all your real estate needs. Visit our website at www.PinnacleService4U.com, or call our office at 601-799-1848.

Flooding - Insurance and Information

2008-09-04T22:01:00.003-05:00

Pearl River County fared very well through Hurricane Gustav, with many Louisiana residents coming to our area to evacuate for the storm. Fortunately for Pearl River County, flooding is not usually a problem (except for areas around the Pearl River and Boley Creek). Some of our visitors, though, may not be so lucky. Many have traveled back to their homes in Louisiana and the MS Gulf Coast to see what Gustav left for them.

If you are facing issues from flooding, FloodSmart.gov has some very useful information to get you on the right track with your flood insurance claims:

After the Flood Fact Sheet: Helpful information for residents as they return home

Filing Your Flood Insurance Claim: A checklist for policyholders as they navigate the claims process

NFIP Summary of Coverage: An explanation to help policyholders understand their flood insurance policy

NFIP Flood Insurance Claims Handbook: A step-by-step guide to filing a claim

For more information about the Picayune and Pearl River County areas, go to www.prchomes.com or www.pinnacleservice4u.com

2008-08-28T22:10:00.005-05:00

With Hurricane Gustav and Tropical Storm Hanna threatening Mississippi and Louisiana, re-evaluating our preparedness here in Pearl River County is extremely important.

If you don't have a Disaster Supply Kit ready, here are items that you need to be collecting (as quoted from the Mississippi Association of Realtors):

- Water - at least 1 gallon daily per person for 3 to 7 days

- Food - at least enough for 3 to 7 days

- non-perishable packaged or canned food / juices
- foods for infants or the elderly
- snack foods
- non-electric can opener
- cooking tools / fuel
- paper plates / plastic utensils
- Blankets / Pillows, etc.

- Clothing - seasonal / rain gear/ sturdy shoes

- First Aid Kit / Medicines / Prescription Drugs

- Special Items - for babies and the elderly

- Toiletries / Hygiene items / Moisture wipes

- Flashlight / Batteries

- Radio - Battery operated and NOAA weather radio

- Telephones - Fully charged cell phone with extra battery and a traditional (not cordless) telephone set

- Cash (with some small bills) and Credit Cards - Banks and ATMs may not be available for extended periods

- Keys

- Toys, Books and Games

- Important documents - in a waterproof container or watertight resalable plastic bag including insurance, medical records, bank account numbers, Social Security card, etc.

- Tools - keep a set with you during the storm

- Vehicle fuel tanks filled

And don't forget your Pet care items:

- proper identification / immunization records / medications
- ample supply of food and water
- a carrier or cage
- muzzle and leash

For more information on Hurricane and Disaster Preparedness, see the Mississippi Association of Realtor's Preparedness website at http://hurricaneguide.msrealtors.org/

For information about properties in Pearl River County, go to www.prchomes.com

Update on interest rates

2008-08-19T14:15:00.008-05:00

Here is an updated chart of what the interest rates have been doing over the past 3 1/2 months:

If you are interested in seeing what properties are available in the Pearl River County area, click the title above to do a property search.

You May Have Already Missed the Boat

2008-07-19T08:56:00.003-05:00

Are you one of those buyers that keeps waiting for interest rates to drop and housing prices to plumbit? Do you keep listening to the media's "gloom and doom" about the real estate market, and think that this is the truth in ALL markets?

I'm sorry to tell you that you may have already missed the boat. In reality, interest rates, for our area, hit their lowest back in January, and have been climbing progressively every since. If you take a look at the chart to the left (provided by Bankrate.com), you can see the progress rates have made in the past year.

Last week, it was announced that FreddieMac and FannieMae (the two largest lenders in the U.S. secondary mortgage market, which help to replenish the supply money for mortgages and enable money to be available for housing purchases) are in financial trouble. What does this mean for the average home buyer? It means that in order to balance out the weight of the sub-prime lending fiasco and years of historicly low interest rates, the rates are going to have to go up.

To show you a good example, on Monday (July 14th) the interest rate for a local lender here in Picayune, MS, on a $200,000 loan was 6.00%. On Tuesday it went up to 6.125%, and by Friday (July 18th) it was 6.375%. That may not sound like much, but the difference of these rates means almost $50 more per month in a mortgage payment.

Now how does that affect our market? Buyers are going to be more active because of the fear of higher rates, and will make a move on the houses that meet their needs and fit their budget. More houses will be sold, and the available inventory will start to dwindle.

There are many buyers in the market that have been slow to make decisions because they felt they could get a better deal, or wait for house prices to drop further. If you are one of those buyers, you might want to reconsider this stance and look for the right home in your price range now, before that home is either gone or the price increases because of demand.

Avoid Foreclosure - There are Alternatives

2008-07-12T22:51:00.002-05:00

Realtors build communities in part by expanding homeownership opportunities and getting people into homes of their own. Those are noble goals, but helping Homeowners stay in their homes is also important to sustain those communities.

In this marketplace of rising mortgage delinquencies and foreclosures, that goal can be challenging, to say the least.

Over the past few years, lenders invented new types of mortgages to help families buy their first home and refinance their existing mortgage. Many of those mortgages helped families without cash for a down payment, or with less-than-perfect credit, qualify for loans known as "subprime" loans.

Subprime loans have a higher interest rate and higher costs, such as pre-payment penalties (which means that you will be penalized if you pay off or refinance within a certain term). In recent years, a very popular, widely available mortgage product was the hybrid adjustable-rate mortgage (ARM). Hybrid ARMs have an initial period with a lower interest rate ("teaser rate") followed by significant increases over the remainder of the loan.

A growing number of borrowers with hybrid ARMs and other nontraditional forms of loans are seeing monthly payments jump beyond their means. With overall credit markets tightening, refinancing can be difficult but there is hope.

When monthly payments become too much, the first thing to do is to speak up. You need to seek the help of professionals, whether they are financial counselors, often available through local non-profit counseling center, or your lender.

While many people believe that telling a lender about financial difficulties will only hasten a move to foreclosure, borrowers should remember that lenders do not like to foreclose on mortgages. Taking possession of your house, maintaining it and then attempting to sell it, will always be a losing financial proposition for your lender. Talk with your lender sooner rather than later to try to arrange new repayment terms.

If your lender is not willing to restructure your loan, a Realtor can refer you to other responsible lenders in your area. Some elderly borrowers have even found solutions to their mortgage difficulties through reverse mortgages and other creative, but responsible, tools.

Project HOPE NOW is a voluntary alliance of major lenders who have agreed in principle to assist qualified homeowners who are on the verge of default due to resetting adjustable-rate mortgages. The national toll free number is 888-995-HOPE to reach a counselor for advice and further referral.

The National Association of Realtors (NAR) website also has several important consumer brochures that can be downloaded free of charge. In addition to information specifically aimed at borrowers facing trouble in making repayments, other brochures offer advice on avoiding predatory loans and obtaining traditional mortgages. All the brochures are available at www.realtor.org/subprime.

Remember, the worst thing you can do if you are having trouble making your monthly payment is to remain silent. Help may be available; you just have to ask for it. If you have any questions, please call:

Michelle Fradella, Broker - Pinnacle Real Estate Services

601-799-1848 or 601-569-0075

Click here for more information on Real Estate Services

Click here to find out what your home is worth in today's market

Hide-A-Way Lake

2008-06-22T08:08:00.003-05:00

Located just 2 miles North of downtown Picayune is a development called Hide-A-Way Lake. This is the only true gated community in Pearl River County and it has a security guard posted 24 hours a day, 7 days a week. You can only get into the development if you have a pass, and the only ones who have a pass are property owners, realtors and contractors who have acquired a pass from the lodge.

Hide-A-Way Lake has been in existence since the early 70's and there is a variety of homes in this community. It features a 200+ acre lake and there are 1500+ lots total in this large community. Currently there are over 900 homes.

This is a popular area for young families and senor citizens alike. Many buyers like the security feature of this development and the lots are typically 100 x 150, so people like the fact that there isn't a whole lot of grass to keep up with.

During the summer (from Memorial Day to Labor Day) the inground pool at the Lodge is open for all members. This is a popular place for the kids, and parents can lounge and enjoy the beautiful view of the lake. There are many social clubs that are held at the Lodge, which gives property owners a chance to socialize. There is also a full-service restaurant in the Lodge that is open most of the year, where you can sit and enjoy a gorgeous view of the lake while you dine. It is also possible to rent this facility for weddings and other events.

I've sold a lot of homes in Hide-A-Way Lake. There is a wide range of people living there, from young families to retirees, those from New Orleans, the MS Gulf Coast, and all areas of the USA. Many who commute to the New Orleans CBD, or to Stennis Space Center live in Hide-A-Way Lake, and I find it a welcomingly diverse community.

I have created a Visual Tour with panoramic views from the Lodge. You can view it by clicking the picture below:

If you would like more information about Hide-A-Way Lake, email me at michelle@prchomes.com

226 Acres of Rolling Hills and Panoramic Views

2008-06-13T18:12:00.003-05:00

Located between Poplarville and Bogalusa, in the White Sands Community, this 4200 sq. ft. home is situated on 226 +/- beautiful acres. One of the most beautiful properties in Pearl River County, Mississippi.
The home features a huge great room with cathedral ceiling and massive stone fireplace, original hardwood floors, 6 bedrooms, 4 full baths, a library, and sweeping covered patio that could be screened. The pool offers a pool house and kitchen area, great for entertaining big crowds or intimate gatherings.
There is a large pond and an area of the property that would make a beautiful location for a large lake.
This property can be sub-divided into smaller parcels.
See a Visual Tour of the property:

Panoramic Country Views

2008-06-04T22:51:00.003-05:00

Looking for a beautiful spot to call home, where country living is the norm and panoramic views relax your senses? Wolf Ridge, located between Poplarville and Stone County, MS, just 20 minutes North of Picayune, offers 5+ acre tracts of land where all this could be yours. Some properties offer ponds.

The seller is offering Owner Financing, with no credit checks.

If this sounds like a piece of heaven for your family, call me today to get more information and pricing.

Realtors Do More

2008-04-18T18:01:00.006-05:00

Many consumers think that all Realtors® do is market and sell properties, but very few understand the significant measures that Realtors take to help consumers in all areas that affect real estate ownership.

Here are a few things that MAR (Mississippi Association of Realtors) made happen during this past legislative session:

Employer down payment/closing cost assistance signed by Governor:

MAR Supported legislation designed to allow employers and employees a tax
incentive for down payment assistance and/or closing cost assistance in
the purchase of a home. The bill has passed the Senate 52-0 and the House
121-0 and has been signed by the Governor.

Mississippi REALTORS® believe in supporting employers who help their
employees pursue the dream of homeownership. This legislation will allow
an employer to establish an employer-assisted housing program to provide
funds to eligible employees. Funds under this program may be utilized by
an eligible employee for rental security deposits, rental subsidies, down
payments, closing costs or any other fees or costs associated with the
rental or purchase of a home. The housing assistance may be in the form of
a grant, forgivable loan or repayable loan. Such support builds company
loyalty which leads to greater job retention. Greater job retention leads
to a better workforce which helps build better communities. HB 1482 also
excludes from gross income under the income tax law amounts received by an
individual from an employer or nonprofit housing organization that are
benefits associated with an employer assisted housing program.

Requiring Lawyers to close all residential mortgages defeated:

MAR was opposed to House Bill 384 (making it mandatory for everyone to use
an attorney in all residential real estate closings.) I am happy to report
that because of our lobbying efforts and because of a very successful
"REALTOR Day at the Capitol,” those pushing the legislation decided not to
bring it before the House for a vote. This issue was clearly about a
consumer's right to choose whether to have an attorney conduct a real
estate closing. It would have meant that title companies could have been
put out of the business of closings real estate transactions. These
companies are not only reputable; they have been providing quality
services, in a cost efficient manner for years. It is this very
competition that has helped keep the costs of closings steady over the
years.
Impact Fees dead:

We were successful in killing SB 2711 introduced by Sen. Debbie Dawkins
(D- Pass Christian), which would have created impact fees. MAR will
continue to oppose impact fees in any form, under any condition
whatsoever, and strongly encourages government at all levels to refuse to
enact impact fees where they do not currently exist and to discontinue
their use in areas where they are currently assessed.

Insurance Rates on Coast Lowered as a result of MAR Backed Legislation:

In 2007 MAR was instrumental in the sweeping changes made to the states
windpool program. The wind pool is state-sponsored insurance sold to
homeowners who can't get private insurance companies to sell them a policy
in Harrison, Hancock, Jackson, Stone, Pearl River and George counties. As
a result these changes made to the program, $25 million in state tax
dollars were recently put into the pool and could save some South
Mississippi homeowners an average of about 11 percent this year on wind
pool premiums. Some commercial rates will be reduced up to 37.6 percent.

Realtors® care about their communities and the impact of government on their clients, neighbors, and family. The National Association of Realtors® (NAR) is one of the largest lobbying groups in government, looking out and speaking up for your best interests.

What Can I Do To Make My Home Desirable In A Buyer's Market?

2008-01-28T08:27:00.000-06:00

Selling a home quickly, and for more money, in today's market is going to take some effort. There are many things that you can do to make your home really stand out in a buyer's mind when they have so many homes to look at.

First thing to do is get a Home Inspection. These typically cost between $260-$350, but the money that you will gain in the long run will more than cover this cost. A Licensed Home Inspector will inspect your home for all mechanical, electrical, and physical issues that may affect the sale of your property. To see an example of a Home Inspection, go to www.prchomes.com/homeinspect.htm. By having this inspection completed, and correcting the deficiencies that are discovered, you can eliminate problems that will arise when a buyer makes an offer on your home.

A good Buyer's agent will suggest that the buyers have a home inspection performed so they will not be surprised with problems after the sale. Many of these deficiencies can become a negotiation tool for buyers, getting you to reduce your price because of their changed perception of the value of your home when the problems are discovered. Eliminating any possible problems can really support your price, and get you the most amount of money for your home.

Secondly, you will do your pocketbook a world of good if you freshly paint each room of the home, have carpeting cleaned or replaced, and freshen the paint on all baseboards and trim. When a house is in "move-in condition" it sells for a higher price. If a buyer feels that they have to do all of these improvements in order to move in, they start deducting the perceived cost in their minds when making an offer. Something as simple as re-painting your home can net you $5,000 or more in value.

If you are considering updating or adding amenities to your home, be sure to check with a Realtor before making those changes. An improvement that YOU think will add value to your home, may actually be a draw-back to a buyer. For example, adding a swimming pool to your home is going to cost you fortune, but unless pools are common in your neighborhood, and the typical buyer looking at homes in your neighborhood is looking for a pool (and doesn't have small children), you will not be able to re-coop the cost of this upgrade. The same goes for granite countertops in a "rental" neighborhood. You could end up over-improving your home and pricing yourself out of the neighborhood.

Other changes that are easy to take care of, and don't cost a lot of money, are fresh landscaping, removing any wallpaper, and deodorizing the home (cigarette smoke is a BIG turn-off to buyers and their agents).

Another item that can add perceived value to your home is a Home Warranty. Most Home Warranties cover the buyer for 12-13 months after the sale of the property, and are a wonderful tool to use to market your home. Should something go wrong with the plumbing, electrical, or mechanical elements of the home, the buyer is covered by this warranty, and saves you and your agent the hassle of calls after the sale.

Keep in mind that anything you can do to make your home sparkle and feel like new will add the most value and make it stand out in a buyer's mind when they have so many homes to see.

For other articles on how to improve your home for sale, see www.prchomes.com/seller.html

How Will YOUR Home Stand Out In Today’s Market?

2008-01-15T21:40:00.000-06:00

You hear what the news is telling everyone – “It’s a down market”. Buyers have more choices in new homes today than ever before in the history of Pearl River County. The market is saturated with new construction, and it seems like buyers are taking their sweet time to choose.

How do you know that yours will be one that makes them take notice? You need a marketing specialist who uses today's technology to put your home out in front of all other houses on the market today.

It just isn’t enough for a Realtor to put a sign in the yard, enter it into the Pearl River Board MLS system, maybe run an ad or two in the local Homefinder, and pray for it to sell. Today’s home buyers are sophisticated, and they depend on technology to help them find the home of their dreams.

Over 80% of today’s home buyers start their search on the internet, long before they look at home buyer magazines, or read classified ads. They know they can get more detailed information online when searching for a home, and not waste their time calling on every ad they see. If your home isn’t marketed using the right mediums, it may never get the exposure it needs to attract the perfect buyer.

If you have a home that you are looking to sell, and want to find out what can be done to make it stand out in today’s rough market, give me a call. I’d love to discuss what I can do to give your house the buyer attention that it needs to get it sold.

“SERVICE”, “RESULTS” – What do these really mean??

2008-01-07T22:26:00.000-06:00

Seriously, folks, don’t you expect to get “service” and “results” when you hire a “professional”? The real question you should ask any real estate agent is “What do you do to assure me great service and results?”

When someone boasts that they give good service, or that they provide results for you, you really need to look at what KIND of service and results you will be receiving. Some real estate agents think that putting a sign in the yard, and placing the listing in the MLS is providing good “service”. This may really be all you will be getting. “Results” could be defined as a sale for your property, or just activity (calls, etc) on your listing. There are many stages of service in the real estate industry, and you as a consumer should ask the questions needed to be certain that your agent’s definition of these terms are equal to your own expectations.

Don’t ever assume that the realtor that you bought a house from in the past is the best agent to sell your home now. Listing agents and selling agents can be very different, and you need to ask questions about the service you will receive BEFORE you sign a listing. How and where will they advertise your home to make it stand out in today’s market, and what can you expect during the process?

Ask for a plan. When interviewing agents – and this goes for both sellers and buyers – you should ask the agent to give you a plan of what they do to provide you with the best service. They need to know what you expect during the process, how often you want to be contacted, and they need to be able to answer all your questions in the interim.

Buying or selling property is already stressful enough. When you are talking about one of the largest investments you have or will ever make, don’t just entrust it to just ANY real estate agent.

Bad Market Or Realistic Market?

2008-01-02T22:35:00.000-06:00

The numbers are in, and the report for Pearl River County doesn't look as dismal as a lot of people think. According to the NAR Residential Sold Report generated from the Pearl River Board of Realtors MLS system, during 2007 there were 466 residential properties sold for a total volume of $74,755,811 and an average sales price of $160,420.

Many people (including Realtors) are basing their opinion of the market on their experience during the "Katrina Market", and you really can't base it on such an inflated market. When looking at the numbers that were done the year before Katrina hit Pearl River County (2004), you can see that our current market is just a NORMAL market.

In 2004, there were 490 properties sold for a total volume of $61,953,237 and an average sales price of $126,435. Our sales volume and average sales price have improved substantially.

2008 is already giving signs of being a more possitive year for our County, considering the influx of military families being transferred to the Stennis Space Center, and other factors that are moving in to the test site and to the Michaud facility in New Orleans.

My personal predictions are that this is going to be a better year, and that the "market slump" will be improving. This is good news for sellers, but if you are a buyer it means that the choices out there are going to get smaller, and interest rates are going to start moving up. NOW is the time to buy, if you are in the market for a home.

Where are all the Buyers??

2007-12-19T07:49:00.000-06:00

With interest rates so low, and the market full of homes to choose from, it amazes me that buyers are so hard to find. Look around the Pearl River County area and you can find a house to meet just about anyone’s needs.

Maybe buyers are overwhelmed with all this hype about a “bad market”. The only ones this market is “bad” for are sellers! Never before have there been so many homes to choose from at one given time, which gives a buyer more opportunity to find a special home and negotiate a good price.

I think many people are in the dark when it comes to what the media is touting and what they can actually do in this market. It’s a fantastic time to BUY a house. This is the best “Buyer’s Market” in the past 10 years.

This is also a perfect opportunity for renters to break out of financial slavery to their landlords, and step up to the American Dream of homeownership. Many people don’t realize that they could be owning their own home instead of throwing hard-earned money away each month. It is possible to have a mortgage payment for just about the same cost per month as your rent. And think of the tax benefits of owning your own home. You’ll be getting more money back from Uncle Sam in the long run!

Did you know that there are loan programs for first-time homebuyers that can get you into your own home with little or NO money down? And did you know that it’s possible to ask the seller to pay all of the closing costs involved with getting a loan for your new home so you don’t have to come up with a lot of money out of pocket at the closing table?

Pearl River County also has some of the lowest homeowner's insurance rates in the region - compared to the Gulf Coast and New Orleans.

This IS a bad market . . . . if your are on the selling side. Don’t be fooled into thinking that this isn’t the most opportune time to BUY a home. To see what is available on the market today, go to www.prchomes.com.

Why Sellers Don’t Save Money by Selling on Their Own

2007-12-18T07:54:00.000-06:00

“Why should I use a Realtor?” I know this is a question that many sellers ask themselves. After all, can’t you just do it yourself and “save the commission”? You could. But let me ask you something . . . How much training do you have in negotiations?

You have to put yourself in a buyer’s shoes. A buyer who calls on a For Sale By Owner (FSBO) is expecting to save some money, so they take the commission off the asking price – I mean of course you as a buyer don’t want the seller to keep that fee if there isn’t an agent involved! Now the buyer feels that there is some room for negotiating off of the discounted price, so they make an “offer” on that - Usually another 3-5% off the net price.

Now subtract the cost of all the advertising you will need to do in order to get the word out about your property. You will need to put classified ads in the newspaper (not a cheap venture), and run ads on the internet on “FSBO” websites that make you pay $1500 or more UP FRONT, even if the property doesn’t sell. You’ll need to buy signs for your yard, and try to find as many other ways as possible to let people know your property is for sale.

We are currently in a buyer’s market, which means that buyers now have a huge amount of homes to look at and consider when making a purchase. What makes yours stand out more than all those listed with real estate brokers? How is your home going to be in front of all of those people who are working with a realtor, looking for a property like yours? The only way you are going to get it to stand out is to ask for less than market value, so your property is a “better deal” to the buyer.

Now take into consideration all of the relocation buyers, and first-time homebuyers that are either not going to even know your property exists, or are not wanting to deal directly with the seller without having someone there to help them make the right decisions and help them get financing? A relocation buyer doesn’t get the local newspaper, and they certainly don’t have much time when they are here to drive all over creation and happen upon your sign. If you are looking to purchase property in a new area, where would you start to look? . . . www.Realtor.com. Then their relocation coordinator sets them up with a broker in the area they are moving to, and they are off to see properties.

If you have a mortgage on your property, every month that it doesn’t sell takes the money you are paying in interest payments away from your profit. Say your interest each month is $600 (and that is usually on the low side). When you wait 8 months, you have lost another $4,800.

So, if you started out asking $200,000 for your property (hoping that it is priced at market value so you can sell it at least attracts some attention), you then subtract the commission, advertising expenses, and interest payments, not to mention the amount the buyer haggles out of you negotiating the price. How much profit do you have left? And who is there to consult you if something goes wrong with the sale, or the buyer can’t get financing? Do you know what financing opportunities there are for a property like yours? Do you have a plan B for the buyers if they can’t get the loan?

Selling your property on your own might save you paying a commission, but it will also keep you from walking away with as much as you would have if you’d had an experienced, licensed, full-time professional do it for you.

For more articles like this, visit www.prchomes.com