House Hunting Tips when searching for a home in Picayune Mississippi.  What you should know when you are wanting to buy a home in Pearl River County, MS.

The dirt work is in progress on Picayune’s new Highland Community Hospital, that will be located off of Hwy 11 North in Picayune, MS. The 31 Acre parcel will house the new facility, which has been long awaited by residents of Pearl River County.

Click here to see the conceptual drawings and layout for the new Highland Community Hospital

Home sellers have one goal—to sell their home as quickly as possible near or at the listing price. A home in move-in condition makes meeting this ideal easier.

Many of today’s prospective homebuyers have busy lifestyles and are looking for properties that don’t require a lot of work. Homeowners should be proactive by making needed repairs before putting their homes on the market.

Inspect both inside and outside the home. Take inventory of practical and aesthetic repairs. You may want to apply a fresh coat of paint on the walls, doors, and shutters. Clean the carpet and buff and polish wooden floors. Tighten and polish hardware. Repair cracks in sidewalks and driveways, and clean any stains on them. Replace missing or warped roofing. Clean or re-grout kitchen and bathrooms. Repair dripping faucets and drains or plumbing fixtures that aren’t operating.

Fix sticking doors and replace old locks and doorknobs. Replace burned-out bulbs and broken electrical sockets. Replace cracked windows and torn screens. Repair broken fencing and reseal the deck. Clean up stains on the tiles and countertops.

Some experts also recommend hiring a certified home inspector to thoroughly and impartially evaluate the property. (For a list of inspectors in your area, visit the American Society of Home Inspectors website, www.ashi.com, or ask your real estate professional for recommendations.) A standard report will review the condition of the home’s heating system, central air conditioning, plumbing and electrical systems, the roof, attic, walls, ceilings, floors, windows and doors, the foundation, basement and visible structure.

If the pre-inspection results in a checklist, have a real estate professional look over the report with you to help you prioritize the list of repairs.

Depending on your goals and budget, you may want to repair only items that could cause significant deterioration to the home, such as a leak. In addition, your local market conditions may dictate how extensive your repairs need to be. Let your budget and your real estate professional guide you.

However, be careful about fixing up too much. Sellers rarely recoup money on major remodeling projects, and you may want to save funds for your new home. Also, obtaining home improvement loans can adversely affect your ability to qualify for your next mortgage.

A home in good condition demonstrates pride of ownership. Taking the time to make small repairs to your home can go a long way in making sure that your home is presented to potential buyers in its best possible light. They also just might make the sale.

If you are in the market to purchase a home, or if you are locked into a high interest rate on your present mortgage, NOW is the time to act!  Luann Watkins at The First Bank in Picayune, MS, says that rates are the lowest she has ever seen them (and she’s been in the mortgage business for a LONG time!).

Currently, the interest rate on a Conventional Loan is hanging at 4.35% on a 30 year term, and 4.75% for a 15 year term.  FHA and RD (Rural Development) is at 4.25% with 95% LTV (Loan-to-Value).   If your current mortage is at 5.3% or higher, this might possibly be the best time to do a re-finance!

If you are interested in knowing more about current interest rates (in relation to your credit score**), give Luann Watkins a call at 601-798-2987.  And if you’re pre-approved and ready to find your next home, call Michelle Fradella at 601-569-0075!

All rates are subject to change.  All rates quoted are for purchase loans only with 1% origination.  *Conventional rates are based on a loan with a credit score of 700 at a 95% loan-to-value.  **FHA, VA, and RD rates are based on a purchase price of $120,000 with a credit score of 700 at maximum LTV.

Buying a home is a major decision for anyone whether they are a first-time homebuyer or someone who has purchased 10 homes before.

A Realtor spends many hours researching financing information, keeping abreast of the current market and market trends, and they also spend time in continuing education studies. This enables them to give you the best service to assure that you are investing your money wisely.

Your Realtor stands ready to help you locate and purchase the home best suited for your family’s needs and financial picture. They know the market and they know the many options of home financing.

You only need ONE Realtor to help you find the home that is right for you.  So, if you meet another Realtor at an Open House or Showing, you can avoid confusion if you indicate that you’re already working with an Realtor.  All Realtor have access to the same information via the MLS (Multiple Listing Service).

While searching for your new home, your Agent will:

• Keep you informed.
• Run frequent computer checks for new listings that meet your criteria.
• Stay up-to-the-minute on changing financial conditions that may affect the housing market.
• Be available to answer your questions or to offer assistance at any time.
• Discuss market trends and values relating to properties which may be of interest to you.
• Show you new homes as well as pre-owned homes, if you desire, including those listed with other companies.
• Introduce you to reliable lenders who can take care of your financial needs.

And once you have chosen a home and have made an accepted offer, your Realtor is there to make sure the loan process runs smoothly, the proper inspections are being done on the home, and that the closing takes place with as little effort from you as possible.  There is no need for that “nightmare” process when buying your home.

If you are looking for a Realtor to assist you, contact Michelle Fradella at Pinnacle Real Estate Services to find out what properties are available that meet your family and financial needs and to get started in the home-buying process.

#1 Mistake: Not listing your property with a Full-Time Realtor©

When selling your home there are no guarantees that the ultimate buyer of your home will have simply walked through the front door. In many cases you may have to bring your home to the buyer. Effective marketing will help ensure that your property receives maximum exposure to attract a ready, willing and able buyer in the shortest period of time. When you list your property, you need to ask some specific questions about how it will be marketed.
In this extremely competitive market, if the Realtor© you are talking to does not run their Real Estate business as a FULL TIME business, then you need to be looking elsewhere. And if their idea of running a real estate business is putting a sign in your yard, entering it in the local MLS, and then running an ad in the local home buyer magazine . . . . well, then they are not seriously up to date in technology, and are not going to get your property exposed to the largest number of buyers possible.
Ask your Realtor© to list for you all of the ways he/she intends to market your home and on what time-line. Also, be sure to ask about the home being advertised on the Internet, and how MANY sites your property will be listed on. At Pinnacle Real Estate Services, we take the marketing of a property very seriously. Our “Strategic Marketing” puts your home in front of more buyers than any other company in Pearl River County, MS.

#2 Mistake: Not Pricing Your Property Right for the Current Market

Perhaps the most challenging aspect of selling a home is listing it at the correct price. It’s one of several areas where the assistance of a skilled, Full-Time Realtor© can more than pay for itself. Listing the home too high can be as bad as too low. If the listing price is too high, you’ll miss out on a percentage of buyers looking in the price range where your home should be. This is the flaw in thinking that you’ll always have the opportunity to accept a lower offer. Chances are the offers won’t even come in, because the buyers who would be most interested in your home have been scared off by the price and aren’t even taking the time to look. By the time the price is corrected, you’ve already lost exposure to a large group of potential buyers.
Your over-priced listing will actually also be helping to sell other properties that are in direct competition with you. Since your price is higher, the lower-priced house will be a better buy for the consumer.
The listing price becomes even trickier to set when prices are quickly rising or falling. It’s critical to be aware of where and how fast the market is moving – both when setting the price and when negotiating an offer. Again, an experienced, well-trained Realtor© is always in touch with market trends – often even to a greater extent than appraisers, who typically focus on what a property is worth if sold as-is, right now.

#3 Mistake: Thinking you need to be in the home to explain things to a prospective buyer.

You will be better served if you allow your Realtor© to do their job without you there. Most potential buyers usually feel more comfortable if they can speak freely to the real estate professional without the owners being present.
Also, if people unaccompanied by an agent request to see your property, you should refer them to your Realtor© for an appointment. Don’t expose yourself, your family, and your property to non-qualified buyers. If they are serious about viewing your home, they will call your Realtor©.

#4 Mistake: Forgetting what you would want to see if you were the buyer of your home.

Remember that although people can be different in personality, they tend to be the same when it comes to expectations at someone else’s expense. In other words, a prospective buyer would probably like to see a perfect home from top to bottom, inside and out. They can envision themselves living in your home, if it’s clean, and problems are already taken care of. Try to do as many of the following items as possible to improve the likelihood of your home selling quickly.
On the outside
• Sweep front walkway.
• Remove newspapers, bikes and toys.
• Park extra cars away from the property.
• Trim back the shrubs.
• Apply fresh, clean paint throughout.
• Clean windows and window coverings throughout.
• Keep plumbing and all appliances in working order.
• Maintain all sealant (window, tub, shower, sink, etc.) in good condition.
• Make sure roof and gutters are clean and in good condition.
• Mow the lawn frequently and plant flowers.
• Keep pet areas clean.

On the inside
• The kitchen and bathroom should shine.
• Quick once-over with the vacuum; carpets should be clean.
• Place fresh flowers in the main rooms.
• Put dishes away, unless setting a formal display for decoration.
• Make all beds and put all clothes away.
• Open drapes and turn on lights for a brighter feel.
• Straighten closets.
• Put toys away.
• Turn off television.
• Play soft music on the radio/stereo.
• Keep pets out of the way and pet areas clean and odor-free.
• Secure jewelry, cash, prescription medication and other valuables.
• Enhance the spaciousness of each room.

The top 10 ways a seller can practically guarantee that their home listing will expire:

1. Not serious about selling. Actions speak louder than words in this market.  If you are not motivated to sell your home, then you should wait for a less competitive time to sell.  Not being willing to price your home where it needs to be to actually sell in this market tells Realtors and Buyers alike that you really are not motivated, and they really shouldn’t bother.
2. Improper pricing. A properly priced home is half sold.  It won’t matter how many open houses, realtor lunches, glossy flyers, home magazine ads, Goodyear Blimps, or Saint Joseph statues are used, the fact of the matter is that if your home is not priced competitively, it WILL NOT sell.
3. Not listening to your agent. A good full-time, seasoned Realtor is trained to know their market, know how to market homes, and how to motivate buyers.  If you question the ability of your agent to represent you, then you obviously have the wrong agent.  Don’t self-diagnose (your Doctor wouldn’t) – listen to the Professional!
4. Micro-manage the marketing. Having former “sales experience” yourself, doesn’t give you the license to second-guess your Realtor.  If you had a real estate license years ago – good for you, but I have to tell you times have changed, and what worked back in the old days WON’T work today!  Share your concerns and timelines, but leave the marketing details to the expert.
5. Don’t Stage the property. Oh sure, that brown variegated shag carpeting might be considered “retro” by some, or the whitewashed cabinets, Navajo white walls, and Southwest Décor might appeal to a small percentage of others – but if you really want to sell your home, you are going to have to make it appealing and competitive with newer homes on the market today.
6. Let Fido run free. Nothing is worse than going in to show a home, and you’re met at the door by frisky, overly enthusiastic dogs.  Worse yet, you’re barked to death by an aggressive one, and are not really sure if you should go in.  The other day I showed a house and the dog was inside.  He was quiet and reserved, but then proceeded to piddle on the floor because he was scared.  Not the way I want a buyer to remember a home!
7. Talk to the buyers. Being at home when a house is shown is certain death to a possible contract!  Sure, you think that you need to tell them all there is to tell about YOUR home, just in case the Realtor doesn’t.  Problem is that the buyers feel uncomfortable while you are there, so they can’t envision themselves “moving in” to the home.  9 times out of 10, the things that you tell them will give you a disadvantage when negotiating the price (if they do make an offer).  DON’T be at home when your house is shown!
8. Sell personal items. Buyers are looking to buy a home – they’re not thrift shopping at Hudson’s Treasure Chest!  Don’t try to push your used furniture on them.  If they want something, they will ask for it in the contract.
9. What’s that Smell? Oh sure, your house doesn’t smell of pet odors, baby diapers, cat litter boxes, fried fish, a dairy farm, or low tide.
10. Ignore Feedback. What do buyers know, anyway?  You can’t imagine why they don’t care for the groovy blue counter tops, the large scary snake in the aquarium, or the Elvis mural on the wall.  Why should these things make your home less than desirable?  Every comment from a buyer should be considered.  These may be things that are also turning other buyers off, and they just didn’t want to say.

If you are a serious Seller in the Pearl River County, MS, area and want your home to sell – take these words of advice.  Also, call Michelle Fradella at Pinnacle Real Estate Services to get your home on the fast track to a closing!

601-569-0075- www.prchomes.com

The U.S. Senate and House of Representatives passed a bill, this past Thursday, that includes an extension and expansion of the current home buyer tax credit.  The bill would extend the present $8,000 tax credit for first-time home buyers through April 30, 2010. Current homeowners are eligible for a $6,500 tax credit through April 30, provided they have lived in the home they are selling, or have sold, as principal residence for five consecutive years in the past eight years. If potential home buyers have a binding contract on or before that date, they will have until July 1 to close the transaction.

Income limits for eligible home buyers are expanded to $125,000 for single buyers and $225,000 for couples. The purchase price of the home cannot exceed $800,000. To help guard against fraud, buyers are required to attach documentation of purchase to their tax return.

This is a great boost for the Real Estate Market, giving buyers a great incentive to purchase their next home by Spring 2010.

If you are interested in taking advantage of this great tax credit, and want to see what properties are available in the Picayune and Pearl River County areas, please go to www.prchomes.com to search the database for what’s available on the market today!