Fixer-Uppers Ripe on the Housing Market

Trends among many home buyers these days appear to be with fixer-uppers.  Instead of looking for the traditional perfect home, some buyers are actually choosing homes that need a little work.

Buying a fixer-upper allows you to purchase it well below market value and add your own personal stamp to it.  However, in some markets, fixer-uppers can be hard to find.  With huge price declines, house flippers quickly grab these homes up, renovate them and turn them around for a profitable sale.

With thorough research or the help of a professional real estate agent, you can find fixer-uppers priced several thousands to hundreds of thousands of dollars below market value.  Your goal is to find a $300,000 property and only pay $150,000 for it or buy a $150,000 property and only pay $75,000 for it.  You get the picture here.

You will then be able to renovate the home to your liking, adding your personal touch, which can save you thousands of dollars.  And saving money on real estate is great these days.

Growing Trends for Aging Mississippi Home Buyers

As the first month of 2010 has already come and gone, it seems that a growing trend with aging Mississippi home buyers has already begun.  The most current trend shows that aging Mississippi buyers want comfortable, easy maintenance homes with the master bedroom on the first-floor.

It’s looking as though the baby boomer generation is now hitting their 50+ years.  And these baby boomers make up around 28% of the population with very interesting statistics.  BabyBoomerMagazine.com says this group is wealthier than any other in the nation, accounts for 40% of consumer demand and controls almost 70% of the total net worth of American households.

When MetLife Mature Market Institute did a survey on people between ages 55 – 64, they found some interesting data and strong similarities.  According to the survey, the primary interest of aging home buyers is in finding single-story floor plans or a home with a master bedroom on the main floor.  They are also interested in finding communities that offer on-site health care or transportation to nearby heath care centers and reasonable cost housekeeping services. 

It looks as though easy living is a big attraction for aging home buyers in Mississippi.  Another common interest all those surveyed had was the need for low maintenance inside and outside the home.  Other survey findings include the importance of top-rated features in the home such as easy-to-use climate controls, washers and dryers, easy to open windows and storage space.

As far as location goes, 28% prefer to live in rural communities, while 9% prefer to live in a central city like Jackson, Mississippi.

Five Secrets for Buying the Best House for Your Money

Everyone wants to know how to buy the best house for their money.  And, there are several ways to go about doing just that.  Therefore, we would like to share five secrets for buying the best house for your money. 

1. Get Pre-Approved – Don’t just get pre-qualified if you want to get the best property for the least amount of money.  If you get pre-approved for a home loan, you have a better chance of being in a stronger negotiating position.  Just remember that price is not always the most important element in negotiations. 

When you are pre-approved for a loan, you are able to make the strongest offer since you already know exactly what you are approved for.  It is a powerful tool to have in your corner when buying a home.

2. Sell Your Property First, Then Buy a Home – If you are currently living in a home, sell it before buying a new home.  Contingency sales are not as strong as ones that come in with a ready and able buyer.

3. Rating Each Home – Before you begin your house-hunting, make a list of things you want in your new home and make a list of things you don’t want.  This is a good way to rate each property you see along the way.  It will also help you avoid confusion when you’re comparing several houses. 

4. Don’t Be Pushed into Any Home – Your real estate agent should only show you what’s available that meets your requirements.  Therefore, don’t make any hasty decisions until you feel that you have seen enough properties to choose the best one.

5. Stop Calling Ads – Ads are only created to make the phone ring.  Many homes in an ad will have drawbacks that are not mentioned, such as a bad community, power lines on property, traffic noise or litigation.  Therefore, it is best to have your own agent search homes for you.  Your agent will critique the property with a trained eye towards how well it meets your needs.

We hope this advice helps you and your family buy the best home for your money.

How to Choose from the Top Siding Options

Are you ready to make a dramatic change to your home’s outward appearance?  Well, that can easily be done by changing your home’s siding.  Now, there’s a siding style to fit everyone’s lifestyle; from the low-maintenance dependability of vinyl siding to the rustic appeal of cedar shakes.

We have some tips and advice for choosing the top siding options for your home.

Vinyl Siding – Vinyl siding is less expensive to purchase and have installed than most other siding materials, as it is made from a PVC plastic.  Unlike cedar or wood, it won’t flake or rot.  However, even the best vinyl siding can split, crack or even begin to look dull over the years.  And when burned, vinyl releases toxic chemicals into the air. 

Cedar Shingle Siding – Cedar shingles add a classic look to any home.  It blends beautifully with wooded landscapes and waterfronts.  They are made of natural cedar that have usually been stained brown, gray or other earthen colors.  Cedar shingles offer a beautiful, natural look of real wood, but require less maintenance than wood clapboard siding. 

Wood Clapboard Siding - Even though we now have access to several synthetic wood products, solid wood siding continues to remain a top choice for fine homes.  Solid woods such as cedar, pine, spruce, redwood and cypress are easily stained or painted and can outlast vinyl and other pretenders.  Homes that were built centuries ago with wood clapboard siding still look beautiful today.

Seamless Steel Siding – Seamless steel siding is super strong, resists shrinking and resists bulging with changing temperatures.  It can also recreate a wood-like texture.  Some homeowners are using the industrial look of corrugated steel for a more modern design.

Fiber Cement Home Siding – Fiber cement can have several appearances such as wood, masonry or stucco.  It is a durable, natural material that is a lower-cost alternative to wood siding.  Fiber cement house siding is also very strong, termite-proof and fireproof.  It also usually comes with a warranty up to 50 years.

We hope this information helps you choose the perfect siding for your home.

Home Maintenance Rules You Should Know

Buying a home can be a huge financial expense and the expense doesn’t stop there.  However, ongoing home maintenance doesn’t have to be a huge expense when you do it on a regular basis.  We have some home maintenance rules for homeowners to follow regularly that will help them keep the cost of home maintenance down.

A good rule to follow for normal home maintenance is the 1% rule.  The 1% normal home maintenance rule suggests that you should spend around 1% of the value of the home per year.  For example, a $150,000 home would need $1,500 per year in maintenance. 

There is also the 3% rule, which experts use for home buyers.  This rule suggests that home buyers should plan on spending around 3% of the value of their home within the first year of homeownership.  This rule covers household items such as blinds, drapes, stove, refrigerator, etc.  And, many new homeowners like to customize their new home to their taste.  So that goes in the 3% rule, too.  However, be sure to budget for repairs and other maintenance.

In addition to annual home maintenance and repairs, homeowners must remember that some home components have a limited life cycle.  Although furnaces and water heaters last several years, they will eventually have to be replaced.

Always have a home inspected before buying.  A home inspector will be able to tell you whether the components are still in good condition or if they will need to be replaced soon. 

Sticking to a good home maintenance plan will help you be prepared for large repairs and other big home maintenance items that can be costly.

New Resolutions to Manage Your Mortgage Better

As we come into the New Year, everyone is making new resolutions.  Most of these resolutions are about losing weight.  But what many homeowners should do is make a new resolution to manage their mortgage better.  What many homeowners don’t realize is that poorly managing your mortgage can affect your credit.

Your credit score should be at least 760 or above in order to get great interest rates.  Therefore, mortgage lenders and other creditors look at this score when you want to refinance your home, borrow against your home or buy a new home.

As a financially struggling homeowner, you may be considering other ways to make your mortgage more affordable.  However, beware.  You have to look beyond the savings and carefully consider how they will affect your credit score.

Here are some examples of what to expect when you modify your loan:

* When getting a mortgage modification or short sale, you must expect some negative impact on your credit.  Several things can happen here, such as how the lender reports the deal, what’s already on your credit and more.  However, a short sale or loan modification is less harmful to your credit than bankruptcy.  Before seeking a mortgage modification or short sale, be sure to ask the lender how they will report it to the credit bureaus so you can weigh your options.  And remember, negatives on your credit file are removed after seven years.

* If you’re turned down for a loan several times or, better yet, have too many inquiries in a short period of time, it can harm your credit.  Too many rejections may indicate risky behavior. If you are shopping for a loan, do so within a 14 to 30 day period.  All mortgage inquiries are counted by FICO within that period as one inquiry.  Another great way to keep inquiries off your credit is to apply for credit in person.  You can ask the lender their requirements and what your chances for approval are.  This way, if the lender’s underwriting standards are too high, you can seek a more lenient lender.

* When you have an adjustable or subprime mortgage on your credit report, you can expect a zero impact.  You just have to keep making your payments on time to keep your score or boost it over time.

* When getting debt relief from a credit counselor, you should definitely expect a ding.  This is because you are not living up to the terms of your original credit agreement.  Only get the help if you absolutely need it.

We hope when you set your New Year’s resolutions that managing your mortgage and credit will definitely be a big part of it.

Your Jackson Mississippi Real Estate Proffessionals Mary & Bill Watkins

Welcome Your New Year in Jackson, Mississippi

With so many New Year’s Eve events going on around Jackson, Mississippi, where will you welcome your New Year’s in?  We have compiled a list of venues that are having New Year’s Eve events, so you don’t miss out on all the fun.

The First Baptist Church Jackson is having a ballroom dancing event from 8:00pm to midnight.  The Raphael Semmes Band will be the big entertainment of the night in the church’s Christian Life Center.  Tickets are $75 for couples or $40 for individuals in advance and $85 for couples and $45 for individuals at the door.  This event also includes dinner.  Formal to semi-formal attire is required.  And they are asking that no one wear spike or stiletto heels.  For more information, call (601) 949-1949.

The Mississippi Museum of Art in Jackson is having a swanky black tie event complete with dinner and a cocktail party.  They will be having a sit-down dinner at 7:00pm and a cocktail party at 9:00pm.  There will be a classical guitarist playing at both events.  The dinner is $150.00 for museum members, $100 for general admission and $125 for VIP admission.  For more information, visit the museum website at www.msmuseumart.org.  Tickets cannot be bought at the door.

Welcome in your 2010 and even meet your soul-mate at the Jackson Area Christian Single New Year’s Dance at the Lakeside Presbyterian Church in Brandon, MS from 7:30pm to 12:30am.  All singles are invited to come out and mingle with other singles and dance the night away as they celebrate the New Year.

We hope you welcome in your New Year in style whether it’s at one of these great events or anywhere in Jackson, Mississippi.  Just be safe and have a great time.

Realtors® Mary & Bill Watkins – Jackson, Mississippi Real Estate

Jackson MS Ranks High on Most Affordable Cities and Happiest Places to Live

When it comes to finding affordability and happiness, you can now look to Jackson, Mississippi for both.  Now that Americans are looking for affordable housing, solid real estate, stable employment, easy commutes and a place they can be happy, they aren’t flocking to the Sun Belt or coastal cities to find it anymore.

Forbes Magazine recently released its list of America’s most affordable cities to live and Jackson, Mississippi is third on that list.  Live Science released its list of the happiest states to live as well, with Mississippi ranking sixth on the list.

Forbes Magazine compiled their list of cities from a mixture of statistics such as unemployment rates, foreclosures, vacancies, median commute time, a three year home-price forecast and median real estate taxes.

Live Science compiled their list from two sets of data in each state across the nation.  One set of data was from participants that self-reported well-being.  The other set of data was from participants with an objective measure who took into account the state’s home prices, weather and other factor that are known reasons to make a person happy.  The two sets of data actually ended up matching and producing a clear and valid survey after three years. 

Forbes Magazine list of most affordable cities to live:

* Omaha, NE

* Little Rock-North Little Rock-Conway, AR

* Jackson, MS

* Des Moines- West Des Moines, IA

* August, GA

* Wichita, KS

* McAllen-Edinburg-Mission, TX

* Chattanooga, TN

* Colorado Springs, CO

* Ogden-Clearfield, UT

Here is the full list of all 100 cities.

Science Lives list of happiest states to live:

* Louisiana

* Hawaii

* Florida

* Tennessee

* Arizona

* Mississippi

* Montana

* South Carolina

* Alabama

* Maine

So, when you’re looking for a place to call home that has both affordability and happiness, look no further than Jackson, Mississippi. It has it all when it comes to real estate needs.

Realtors® Mary & Bill Watkins ~ Your Jackson, Mississippi Real Estate Professionals

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Loving Jackson , Mississippi

As the year comes to an end, we are suddenly feeling the need to express just how much we are loving Jackson, Mississippi in our blog.  There are many people around who like to focus on the negative things that happen in the city and are all too ready to take potshots when positive things happen.  However, there are many positive things happening around the City of Jackson that no one can deny as positive changes.

There is no denying that Jackson has its own issues of population, crime and infrastructure.  However, those are the same issues that all big cities across the country face. 

Jackson, Mississippi will soon be coming into new administration and power soon.  And many believe with a renewed focus to tackle these issues, bigger and better things are coming to the city.  Things that will help the city run the way it should.

There are still many good things to say about Jackson, Mississippi, too many to name.  And from time to time, Jackson may stumble just like any other big city.  We just have to stand behind the city we love and nurse it back to the healthy, vibrant city that it was meant to be.

Realtors® Mary & Bill Watkins ~ Jackson , Mississippi Real Estate

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The City with Soul’s New Hospitality Certified Program

Many people know Jackson, Mississippi as the City with Soul.  And to help ensure that visitors are happy while in town, the Jackson Convention & Visitors Bureau is launching a new program called the Hospitality Certified Program that is directed to ensure that all visitors have exceptional lodging while staying in the City with Soul.

Mississippi is actually the first state in the entire nation to adopt a program like this statewide.  The Jackson Convention & Visitors Bureau has now partnered with the Mississippi Hotel and Lodging Association to execute this new program in all lodging locations throughout the Jackson area.  The program is anticipated to be in full swing by January 2010.

Since Jackson is now bursting at the seams with developments that will only enhance the city, the initiative will help reassure guests from all around that the lodging they choose are perfect for their expectations.  With so many positive changes going on around the city, a visitor’s comfort is becoming top priority. 

Many Jackson hotels have already welcomed the new program and see it as an incentive for hotels to maintain greater standards so that they, too, may become certified.

Interested lodging properties can contact the Mississippi Hotel & Lodging Association to begin the process. The lodging facilities are then inspected and, once certified, the lodging facility will receive a Hospitality Certified Seal.

There are perks that visitors can expect from staying at these certified lodging facilities like being able to have any complaints resolved within 48-hours.  Proactive measures like this are being put in place to ensure repeat business to the City with Soul.

 Once again, it looks like Jackson, Mississippi is going above and beyond to keep their residents and visitors a top priority.

Our Clients Stay Our Clients Forever ~ Realtors® Mary & Bill Watkins

Jackson, Mississippi Real Estate