northwest mississippi: Northwest MS HUD Home in Golden Pond Neighborhood - 06/06/10 02:39 PM
Northwest MS HUD Home in Golden Pond Neighborhood
****SOLD****
This HUD home in Golden Pond subdivision in Coldwater MS was just placed on the market June 4, 2010.  
 
This 2400 square foot home on 3 acres has 3 bedrooms, 2.5 bathrooms, a playroom and bonus room.  The list price is $155,000.

     
 
Home needs TLC and is eligible for FHA financing with an escrow for repairs.  Possibility of $100 down payment with FHA loan. 
For questions about this home or the FHA loan program for HUD homes, contact Pam Simpson.
 
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^If you are looking for a Realtor® … (1 comments)

northwest mississippi: First Time Homebuyer Guide - Part 6 - 09/02/09 05:58 AM
First Time Homebuyer Guide - Part 6by Pam SimpsonThe Kudzu Vine

Part 6:  Signing...Signing...more Signing (we must be at the closing table).
 This is the last article in the First Time Homebuyer Guide Series.  To bring you up to speed, we covered:
Part 1  Finding the Agent
Part 2  Finding the Lender
Part 3  Finding the House
Part 4  Making the Offer
Part 5  Inspections
Yipee!  We found the Realtor, lender, and home.  We had it inspected, the loan has been processed and we are at the closing table. 
The process of "closing" is handled very differently in different parts … (0 comments)

northwest mississippi: Northwest MS Foreclosure Market Report - August 2009 - 08/21/09 03:17 AM
Northwest MS Foreclosure Market Report - August 2009by Pam SimpsonThe Kudzu Vine
I have been charting the foreclosure market in Northwest MS for a number of years now and keep up with the numbers on a weekly basis.  The week ending Friday, August 21, 2009 saw 19 new foreclosures hitting the market.  That same week, there were only 6 price reductions of foreclosures already on the market and 11 foreclosures went under contract.
Here is a chart that shows the Northwest MS foreclosure activity since January of 2009.  The blue line represents the new foreclosures added each week and the red … (3 comments)

northwest mississippi: Northwest MS Foreclosure Market Report - June 2009 - 06/09/09 02:31 AM
Northwest MS Foreclosure Market Report - June 2009by Pam SimpsonThe Kudzu Vine
The week ending June 5, 2009 saw 29 homes added to the foreclosure inventory in Northwest MS.  There were 13 price reductions during that week and 18 went under contract.
Here is a chart showing the Northwest MS Foreclosure Market Activity from May of 2008 to the present.  The blue line represents homes added to the foreclosure inventory each week and the red line represents foreclosures which have sold each week. 

At the time of this report, the foreclosure market consisted of approximately 6.1% of all active residential … (0 comments)

northwest mississippi: Free Automated Home Finder Service - 05/21/09 06:08 AM
Free Automated Home Finder Serviceby Pam SimpsonThe Kudzu Vine
If you have been using your weekends and burning tanks of gas driving around Northwest MS looking for homes with For Sale signs in the yard or flipping through Home magazines only to find that the homes advertised have already been sold - I have a better way.
 
 
 
I offer a Free Automated Home Finder Service.  Just fill out the simple form with basic information such as number of bedrooms and bathrooms desired, location, price range, and age of home range.  There is even a space where you can list … (0 comments)

northwest mississippi: HUD Homes In Northwest MS - 05/08/09 06:32 AM
HUD Homes In Northwest MSby Pam SimpsonDesoto-Tate County Real Estate
There are several great HUD homes on the market and available now.  Here is just a sample:

96 Armour Place in Byhalia, MS$109,800
This is a 3 bedroom, 2 bath home on 2 acres in Marshall County.  It has a formal dining room and was built in 2006.
 
 
 
 
 

 
6189 Magnolia Lakes in Olive Branch, MS$60,500
This is a 3 bedroom, 2 bath home with a split bedroom plan.  It was built in 2001.  It is close to the neighborhood lake and playground.
 
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northwest mississippi: Northwest Mississippi Foreclosure Market Report - March 2009 - 03/07/09 09:52 AM
Northwest Mississippi Foreclosure Market Reportby Pam SimpsonThe Kudzu Vine
Desoto County MSTate County MSPanola County MSMarshall County MS
For the week ending 3/6/2009, there were 19 foreclosures added to the Northwest MS MLS.  There were 24 price reductions in existing foreclosures and 19 went under contract.
Here is a chart showing the Foreclosure Activity in the 4-county area since March of 2008:

About 6.9% of the active listings in the Northwest MS market are foreclosures (including HUDs, REO, VA, Fannie Mae).  That is a drop from 8.2% back in January.  Here is a breakdown of the foreclosure market by community:

Olive … (0 comments)

northwest mississippi: This Is March In Mississippi? - 03/01/09 02:23 AM
This Is March In Mississippi?by Pam SimpsonThe Kudzu Vine
The buttercups in my front yard started blooming a couple of weeks ago, around mid-February.  I've been planning my vegetable garden and it was 70 degrees on Friday, Feb. 27.  Here is what it looked like this morning (March 1) on my back porch in Northwest MS.

The temps are expected to be up in the 60s later this week.  It is pretty to look at, but I'm not sure I would want to deal with it for weeks and months on end.  Goodbye Winter...thank you for the beautiful display!____________________________________________________________________________________________________
About the author: Pam … (0 comments)

northwest mississippi: Northwest Mississippi Foreclosure Market Report - Jan. 2009 - 01/16/09 06:06 AM
Northwest Mississippi Foreclosure Market Report - Jan. 2009by Pam SimpsonThe Kudzu Vine
Desoto CountyTate CountyPanola CountyMarshall County
For the week ending 1/16/2009, there were 24 homes added to the foreclosure inventory in Northwest Mississippi.  There were 31 price reductions this past week, and 11 went under contract.
Here is a chart showing the foreclosure activity in the 4-county area from mid-March 2008 to the present.

 After remaining fairly stable from November through the holidays, the number of homes added to the market jumped over the past 2 weeks.  On the flip side, the number of pending sales has dropped off steadily … (6 comments)

northwest mississippi: Desoto County Mississippi Home Decor Superstore - 11/18/08 06:41 AM
Desto County Mississippi Home Decor Superstoreby Pam SimpsonThe Kudzu Vine
Southaven, MS in Desoto County is home to a terriffic home decor superstore.  It is called House to Home. 
 
House to Home is located at 8961 Hwy 51 N. just south of Stateline Road.  It is owned by Mike and Julie Humphreys and opened for business on August 1, 2007.
The variety and number of items in this store is mind-boggling.  When you go, be prepared to spend a while strolling up and down the aisles.  If you go through the whole store twice, you will find things the second time … (1 comments)

northwest mississippi: NW Mississippi Foreclosure Market Report - Nov. 2008 - 11/14/08 07:17 AM
NW Mississippi Foreclosure Market Reportby Pam SimpsonThe Kudzu Vine
Desoto CountyTate CountyPanola CountyMarshall County
I gather foreclosure data on my market every week.  This week (ending 11/14/08) there were 13 foreclosure homes placed on the market, 32 had price reductions and 16 went under contract.  That price reduction number got my attention because it usually hovers around 12-15.
Here is a chart that shows the Foreclosure Activity in the 4-county area from mid-March to present:

 As you can see, it's been a WILD roller coaster ride.  With as many price reductions as we had this week, I believe the Pending/Sold … (3 comments)

northwest mississippi: 100% Rural Housing Loans for Northwest MS - 10/30/08 06:00 AM
100% Rural Housing Loans for Northwest MSby Pam SimpsonThe Kudzu Vine
The US Department of Agriculture may not the first placeyou think of when it comes to mortgage loans, but they administer one of the best mortgage loans for a good portion of Northwest MS.  The USDA Rural Development Guaranteed Housing Loan is a loan made available for low -to-moderate income individuals and families throughout many portions of the U.S.
In Desoto and Tate counties of Northwest MS, the maximum income limits are as follows: 

If you pay child care expenses, that can be factored into these numbers so the income limits could actually … (3 comments)

northwest mississippi: Tate County MS - Historic Courthouse - 10/24/08 02:22 AM
Tate County MS - Historic Courthouseby Pam SimpsonThe Kudzu Vine
                                                                                         The Tate County MS Courthouse is located at 201 Ward St. in Senatobia, MS.  It is home to the offices of the Chancery Clerk, Circuit Clerk, Tax Collector and Tax Assessor.
This beautiful Victorian-style courthouse was build in 1875.  The cornerstone of the Tate County Courthouse was laid on June 24, 1875.  The original architect was James Bartholomew Cook from England.  Additions were made to the courthouse in 1904 and 1975.  The latest additions and restoration were finished in 2000.
As could be expected with a 100+ year old public … (3 comments)

northwest mississippi: NORTHWEST MISSISSIPPI FORECLOSURE MARKET REPORT - 09/24/08 06:53 AM
Northwest Mississippi Foreclosure Market Reportby Pam Simpson, Broker-Assoc.The Kudzu Vine
Desoto CountyTate CountyPanola CountyMarshall County
For the week ending 9/19/2008, there were 17 new foreclosure homes added, 12 price reductions, and 12 went under contract.
Here is a chart showing the Foreclosure Activity in the 4-county area since mid-March to present:

About 5.4 % of the active listings in the Northwest Mississippi market are foreclosures.  Here is a breakdown of the foreclosure market by community:

The most active area for foreclosure activity continues to be Olive Branch.  It has been my experience that many foreclosure sellers are now pricing … (2 comments)

northwest mississippi: NORTHWEST MISSISSIPPI MARKET REPORT FOR JULY - 08/26/08 05:09 AM
TATE COUNTY MISSISSIPPISENATOBIA MISSISSIPPIHERNANDO MISSISSIPPI
Tate County, Mississippi saw 22 residential sold properties in July with an average sales price of $116,251.  Here is how the numbers look for current, last month and last year comparisons.
July 2008:  22 sold     Avg. Sales $116,251June 2008: 15 sold     Avg. Sales $149,804July 2007:  17 sold     Avg. Sales $138,018
There are currently 185 Active Residential listings in Tate County which represents a 12.2 month supply (OUCH!)  Foreclosures represent only 3% of the Tate County market.
The highest price Active property is a 35 acre estate with 2 homes, 3 ponds & a commercial bldg.  It is listed at $1,300,000.
 
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northwest mississippi: Mississippi Mortgage Revenue Bond Money Program - 08/25/08 06:35 AM
Mississippi Mortgage Revenue Bond Money Programby Pam Simpson, Broker-Assoc.The Kudzu Vine
Ron Withers wrote an informative blog on the Mortgage Bond Revenue Program (HERE) and asked that I contribute information about Mississippi's program.
Mississippi has a Bond Money program to assist first-time homebuyers in the purchase of a home.  A "first-time" homebuyer is defined a someone who has not owned a home in the past 3 years.  Mississippi Home Corp. does have "target areas" of the state in which the first-time rule is wavied.  These target areas are the less developed counties.  In Northwest Mississippi, the counties of Marshall, Panola, and … (1 comments)

northwest mississippi: REALTOR 103 YOU ARE CLEAR FOR TAKE OFF - 08/22/08 05:14 AM
I was out showing homes in one of our Desoto County, Mississippi towns this past weekend (Olive Branch) and observed something I have not seen in a while.  When I got to the first home, there was already a REALTOR showing it to her client.  After they left and I was showing it to my client, another REALTOR was waiting for us to leave.  When I got to another home, the same thing happened.  When my clients and myself got in our cars to leave, I noticed a few cars waiting in line to see this home.  It reminded me of airplanes waiting … (3 comments)

northwest mississippi: MISSISSIPPI HUD HOMES FAQ - 08/20/08 06:23 AM
Mississippi HUD Homes FAQby Pam Simpson, Broker-Assoc.The Kudzu Vine
I advertise a lot of HUD homes in my area of Northwest Mississippi (Desoto County, Tate County, Panola County, Marshall County) and I maintain a HUD/VA/Bank Foreclosure list every week.  Here are some of the Frequently Asked Questions I receive from prospective buyers (and other real estate agents).
1.  What is a HUD home?
A HUD home is a residential property acquired by HUD (Dept. of Housing and Urban Development) due to a past foreclosure action when the home had an FHA mortgage. 
2.  How can I find HUD homes for sale in my … (4 comments)

northwest mississippi: Buy a HUD home - $100 down payment - 07/24/08 04:59 AM
In Mississippi, you can purchase a HUD home with only a $100 down payment.
First, here is a brief (and very simplified) introduction to HUD homes.  When someone purchases a home using an FHA loan, the loan is insured by FHA (which is a part of HUD).  If that borrower defaults on the FHA loan, HUD becomes the new owner by foreclosure.  HUD does not wish to be a property owner, so they place these homes back on the market for sale.
 In Mississippi, HUD and FHA have a program where you can purchase a HUD home using an FHA mortgage for only … (11 comments)

northwest mississippi: NORTHWEST MISSISSIPPI MARKET REPORT (JUNE) - 07/23/08 08:50 AM
NORTHWEST MISSISSIPPI MARKET REPORT  (JUNE)
SENATOBIA MISSISSIPPI REAL ESTATETATE COUNTY MISSISSIPPI REAL ESTATEHERNANDO MISSISSIPPI REAL ESTATE
On July 23, 2008, there were 180 Active listings in Tate County (99 in Senatobia) in the Northwest Mississippi MLS. 

The lowest priced listing in Senatobia is a 3BR, 2BA investment property listed at $49,500.
 
 
The highest priced listing in Senatobia is a 4BR, 4BA custom built home on 60 acres for $767,000.
The interesting thing about our rural market is that these 2 homes are right around the corner from each other.  The median price is $142,000.
 
In Sentobia, there … (0 comments)

 
Pam Simpson, GRI, Broker-Assoc. (Bob Leigh & Assoc., LLC) Rainmaker large

Pam Simpson

GRI, Broker-Assoc.

Senatobia, MS

More about me…

Bob Leigh & Assoc., LLC

Office: (662) 449-3530

Fax: (662) 449-3531

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Senatobia real estate, Tate County real estate, Hernando real estate, Desoto county real estate, HUD Homes, REO


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