Am I Ready to Buy?

Financial responsibility is all-important in this economy. No one wants to get in over his/her head and yet the excitement and possibilities of home ownership can sometimes cloud our vision! Here's a simple guide to put your mind at ease provided by the Federal Housing Administration.

Ask yourself these questions:

1. Do I have a steady source of income (usually a job)?
2. Have I been employed on a regular basis for the last two to three years?
3. Is my current income reliable?
4. Do I have a good record of paying my bills?
5. Do I have few outstanding long-term debts, like car payments?
6. Do I have money saved for a down payment?
7. Do I have the ability to pay a mortgage every month, plus additional costs?

 If you can answer “yes” to these questions, you are probably ready to buy your own home. Call your Mortgage Banker or Banker, then your REALTOR!

 
Su Morris, REALTOR®
MS License # B- 15728
Graduate Realtor Institute (GRI)
Accredited Buyer Representative ( ABR)
Seller Representation Specialist (SRS)
Accredited Staging Professional (ASP)
e-PRO®
Broker Associate

18 Timeless Decorating Moments From Elizabeth Taylor's Illustrious Career

by Tori Heard, REALTOR

Elizabeth Taylor's name is synonymous with beauty -- usually referring to herself rather than interior decorating. But yesterday, I ran across this article after finding out about her death and it makes perfect sense. This beautiful woman was always surrounded by beautiful things!


18 Timeless Decorating Moments From Elizabeth Taylor's Illustrious Career

Why Now Really is the Best Time to Buy Your Next Home

By Reid Guy

If you and your family have been struggling with the decision on whether or not to buy a new home, now might be a better time than ever before. On March 18, Freddie Mac released the results of its Primary Mortgage Market Survey, a weekly report of mortgage interest rates.

The results showed “the 30-year fixed-rate dropping to 4.76 percent while the 15-year fixed-rate hit its lowest rate at 3.97 percent since December 2010.” Last year at this time the 30 year fixed mortgage rate averaged 4.96 percent, while the 15-year FRM was at 4.33 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, reports, "With the crisis in Japan, investors rushed to buy the security of U.S. Treasury bonds, which lowered its yields and other interest rates as well. This allowed fixed mortgage rates to drift lower this week."

Another reason now is a good time to buy your new home is the number of choices available. Most markets have more homes for sale than it does buyers, so there might be a lot to choose from in your area. This type of market also gives the buyer leverage in negotiations.

There are also a large number of foreclosed homes available in many areas. Most foreclosures are homes owned by banks or asset management companies, and they want to sell their inventory, fast. This might allow a potential buyer to get a great deal on what could possibly be the home of their dreams.

You might be in a situation where you need to sell your house before you can consider buying another. If this is the case, remember you can always sell your home for a little less now, because you might get a much better deal on the one you are buying. In the long-term, you and your family might come out financially better by making the investment now.

If you do decide it is time to make a move, call Prudential Gateway at 601-853-0414. Learn more about Prudential Gateway's Reid Guy and pick up more great information on his blog.

Spring Forward!

DST: March 13

With spring just around the corner, now is a good time to make a game plan of how to have your home ready for the upcoming beautiful weather.

The past few months have been filled with holidays and winter weather which make it difficult to maintain the exterior and sometimes interior of our homes. With warmer weather nearing, now is the perfect time to address any maintenance concerns or simple spring cleaning tasks around your house. Addressing these issues now, is sure to get you ahead of the game, especially if you plan on putting your home on the market. Buyers are more likely to make an offer on a home that has been well maintained over the years and requires little to no repairs.

These helpful early-bird spring cleaning tips will have you ready to relax and enjoy the weather!

 And one more thought:
“I don't mind going back to daylight saving time. With inflation, the hour will be the only thing I've saved all year.” –Victor Borge

Katie Nelson is a REALTOR with Prudential Gateway Real Estate. She also hosts her own blog: Bungalow Jax: Real Estate, Design, and Southern Charm!

Buyer's Market: Deal of the Year!

It's nobody's secret that it's currently a buyer's market in real estate but before you jump in to snatch up a great deal, you need to do your research. A CMA (Comparative Market Analysis) is usually prepared by a REALTOR when helping sellers decide on a price for their property. Simply put, it's a report that lists recently sold properties that are similar to theirs in the same neighborhood. This ensures your home is not grossly over- or under-priced right from the get-go.

However, buyers need to know this information as well and that's when an informed REALTOR is indispensable! That being said, I have a listing that is easily the best buy in Reunion: 212 Ivy Brook Court. One can rarely use the words "elegance" and "value" in the same sentence yet here is the perfect opportunity! In my humble opinion, the buyer who gets this one will be getting the Deal of the Year!



Open House: Sunday 03/06/2011 2:00 p.m. - 4:00 p.m. 

Rosemary Stovall is owner/broker of Prudential Gateway Real Estate.