The last month I've been a busy bee with the housing market, but what can I attribute this to? Interest Rates, or Stimulus Package? Maybe and Maybe!
I've got a good idea though my sellers are helping me price their listings at fair market value and that my friend is what is moving this market!
And, as we know, price is king when buyers are looking for homes.
Remember, your results may vary depending on the home condition and the part of the country you are located in. But, the next time you’re ready to list a home, explore the option of pricing strategies. A listing price can be your most powerful marketing tool...
Closing March 20th!
Closing February 27th!
Short Sale Closing Pending!
If your looking to sell your home in the Metro Jackson Area be sure to call me before you do for your home selling consultation.
Alot of people that I have talked to in the past couple of weeks have been confused between the differences of FHA and Conventional loans. So, I hope this simple explanation helps with all of your questions dealing with mortgage loans.
FHA requires less money down - 3.5%. Conventional (Fannie Mae and Freddie Mac) loans require at least 5% down.
FHA’s monthly mortgage insurance is much cheaper than conventional loans, usually about half and much more in many cases.
FHA’s interest rate is not tied to credit score. If you have a 620 or better you are eligible for the best FHA rate. For conventional loans you need at least a 720 score for the best rate and scores less than 720 have higher rates. Or you pay more points to get best rate.
FHA loans can only be used to buy your primary residence, not second homes or rental houses. Conventional loans can be used for principal residences, second homes and investment property.
FHA loan limits are approximately $271,000 and conventional loan limits are $417,000.
FHA loans are assumable. Conventional loans are not.
FHA loans have an upfront funding fee (1.75%), which is financed into the loan amount, not paid at closing. Conventional loans do not have a funding fee.
FHA loan qualifications are governed and set by the federal agency, Federal Housing Administration, a division of the Housing and Urban Development (HUD). Underwriting guidelines and parameters for conventional loans are set forth by Fannie Mae and Freddie Mac, government sponsored entities (GSE's).
I usually recommend FHA when a buyer puts down less than 5%. I usually recommend a conventional loan when someone puts down more than 10%. Each case is different. Credit scores and down payment money play a bigger part on the type of loan chosen in today’s mortgage market.
This article was written by Richard Martin with Residential Mortgage for the sole purpose for www.jeffreydillonsells.com. You can contact Richard with any mortgage questions at...
Richard E. Martin "When You Think Mortgage, Think Residential Mortgage."
Residential Mortgage Corp. 5888 Ridgewood Rd, Suite B Jackson MS 39211
One would think after reading the newspapers and watching the news media, that very few can get mortgage loans these days, like only the Warren Buffett types. Not true. But admittedly it is tougher to qualify compared to a year ago.
Lenders have increased their requirements as a result of the housing market slump and sub-prime mortgage bust. Loans without down payments are no longer available.Only Veterans Administration and Rural Housing offer such. Also, many down payment programs (e.g. Ameridream) have ceased to operate due to regulatory rulings and tightened policies.
Fannie Mae and Freddie Mac (a.k.a. conventional loans) require money down and scores at least in the 600s. And they impose rate increases if scores fall below 740, unlike a short year ago which allowed the best rate regardless of score (albeit, one had to get an approval from the FNMA automated underwriting system). I have explained to many of my clients that Fannie Mae is giving you less and making you pay more.
Since they, being Fannie Mae, are making us pay more, it is seen as their way of playing catch up.They made poor credit and risk decisions which costs them dearly, so now they are getting back to sound risk and credit assessment and pricing it accordingly.
Considering all the credit and financial market turmoil in the past several months, mortgage rates have remained constant and steady. In fact they have dropped in December - below 6% for the national average.
The bottom line is your credit scores and down payment money rule these days. Each is telling in the risk a lender has with you. And loan risk is today is like the Black Plague in the 14th century. And that is not an overstatement.
This article was written by Richard Martin with Residential Mortgage for the sole purpose for www.jeffreydillonsells.com. You can contact Richard with any mortgage questions at...
Richard E. Martin "When You Think Mortgage, Think Residential Mortgage."
Residential Mortgage Corp. 5888 Ridgewood Rd, Suite B Jackson MS 39211
Don't you just love this time of the season where you can snuggle up by the fireplace with a good book or your significat other and enjoy the holiday's! It's not just the events, hustle, or bustle that affects me. What really is so great about this time is how everyone else is in good spirits. The people talk, drive, and act nicer than any other time of the year! The reflection is not upon themselve but others and that's whats so wonderful about it.
I hope you are able to take time during this season and slow down. Reflect about how good life is and how blessed we are!
Jeffrey Dillon
Herrington Realty Co.
Jeffreydillonsells.com
My wife and I put our first Christmas tree this evening and it was alot of fun!
Hey everyone when your looking at homes this Sunday please stop by and see me at one of my open houses in Ashbrooke subdivision in Madison, Ms. I will be open from 2-4 at 129 Sycamore Ridge and 109 Hemlock Lane. Please don't hesitate to call me at 601.502.4693!
Just wanted to write and let you know that I've just listed a beautiful home in Windsor Hills, Madison, Ms! Windsor Hills is located right off Madison Exit 108, a mile off 463 right past Hilton Garden Hotel, Bonefish, and St. Joseph Catholic School. This gorgeous home was built in 1996 and has been totally updated with heart of pine flooring, granite counter tops, and ceramic tile. Gorgeous arched columns frame the formal dining room and create a unique elegant touch to the look of the home.
Space is plenty available in the large master bedroom and master bath. It's great that you have a split plan with three other bedrooms on the other side with one nice bathroom to share. Also, you have a nice laundry room corridor that houses a half bath for coming in out of the garage and kitchen area.
Entertaining would suit this home given the amount of open space that is available in the living/family room witch opens to both kitchen and formal dining. Let the party or family cook out spill out on the large expansive back yard and nice patio.
Come check this beautiful 2300 sq. ft. home out as soon as possible because it will not last long, given that it's priced to sell at $249,900!
Beautiful home in Windsor Hills!
Huge living room with lots of space!
Fabulous dining room!
Gorgeous columns in the living dining room!
Eat in kitchen nook!
Beautiful updated kitchen!
Great spacious master bath with double sinks and new tile!
Mistletoe Marketplace 2008 DON'T MISS THIS SHOPPING EVENT OF THE YEAR
November 6-8, 2008
It's that time of year again andThe Junior League of Jackson, MS is looking forward to Mistletoe Marketplace 2008!! Mark your calendars for November 6-8, 2008. The three-day marketplace includes an array of special events, dining opportunities, live entertainment and cooking demonstrations from the Junior League's nationally recognized cookbooks. Over 35,000 shoppers from across the Southeast enjoy more than 165 merchants from across the United States offering unique gifts and holiday trends in a festive, family-friendly atmosphere. Proceeds from Mistletoe Marketplace support the Junior League's many community projects. Mistletoe Marketplace has been chosen by the American Bus Association as one of the 2007 Top 100 Events.
Mistletoe Marketplace is the largest fundraiser in Mississippi! You'll enjoy the excitement of this three-day holiday shopping extravagana featuring more than 100 merchants from across the nation. Each day is filled with special events designed to fuel the excitement of the approaching holiday season. This festive events is being held at the Mississippi Trade Mart on the fair grounds in Jackson, MS. Mistletoe Marketplace tickets are on sale now. Call 1-888-324-0027 to purchase your tickets.
Mistletoe Marketplace Live Auction items are available now. Click here to see the items available for purchase prior to Mistletoe.
The Junior League of Jackson, MS is an organization of women committed to promoting voluntarism, developing the potential of women and improving communities through the effective action and leadership of trained volunteers. Its purpose is exclusively educational and charitable. For more information about the Junior League of Jackson, MSclick here.
The Junior League of Jackson, MS is a member organization of the Association of Junior Leagues International. To learn more about AJLI, visit their website at www.ajli.com
Ready to make your next move? We have severalHomes for Salein Madison MS, Brandon MS, and Ridgeland MS. Search the local MLS for 1000's of homes in the Jackson, MS Metro area.
I have so many fond memories as a child dressing up and going from home to home saying the infamous statement "Trick or Treat"! Kids look forward to dressing up in cool costumes and getting free candy. Be careful though of the intake of candy because to much at one time can cause a serious stomach ache. That is not the least of my worries for our kids though. Here are some safety tips for your kids to have a happy halloween eve!
Pick out a safe and bright costume! Reflective would be great.
Plan a safe route that is well lit and a time to return home.
Stop only at familiar houses in your neighborhood and small children shouldn't go alone. Always have an adult accompany them!
Instruct your children not to eat any treats until you can inspect them.
Instruct your children never to get a car or walk into a home of a stranger.
Always stay in a group!
Carry a flashlight!
Walk don't run, stay on sidewalks, and obey traffic signals
Approach only houses that are lit!
Wear clothes with reflective tape or bright colors!
Everyone wants to have a safe and happy halloween for themselves, their guests and children. Using these safety tips and common sense can help you make the most of your halloween season and make it as enjoyable for your kids as it is for you.
Jeffrey Dillon
To see listed properties in the Metro Jackson Area just click here!
Wow! Almost 2600 square feet in this beautiful 4B 2.5B home in the heart of Madison. Best price per square foot! Great open plan with updated kitchen, formal dining, living, and eat in kitchen nook. Retreat away in the spacious master bedroom and bath! Large upstairs for the kids or guests with plenty of space in the bonus room for a playroom, media, or office. Have a nice dinner on the covered patio or to entertain guest inside or out! Convenient to schools and shopping call your realtor today!
I'm attending a special class Monday through Thursday to finalize my Broker's License here at the MS realtor institute! So, I'm now considered a broker associate! I feel so empowered because my knowledge is expanding as I educate myself in the real estate world... LOL! I know it sounds funny but I'm actually glad that I'm working in a slower real estate cycle. Even though I've been somewhat busy, it's given me more time to educate, research, and position myself for when the market turns around! I hope everyone has a great week!
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
tally updated with heart of pine flooring, granite counter tops, and ceramic tile. Gorgeous arched columns frame the formal dining room and create a unique elegant touch to the look of the home.
Central heat
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