reo: 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)

reo: Hernando MS Real Estate Market Report - March 2009 - 04/10/09 06:16 AM
Hernando MS Real Estate Market Report - March 2009by Pam SimpsonThe Kudzu Vine
Hernando MS (the county seat of Desoto County MS) saw 18 residential sales in March with an average price of $146,275 and average days on the market of 114.  Here are the comparisons for last month and March of 2008:
Feb. 2009Sales  19     Avg $163,219     Avg DOM  144
March 2008Sales  36     Avg $186,843     Avg DOM  116
The sales were not concentrated in any one specific area but were spread evenly throughout Hernando.
**Note:  44% of the homes that sold in Hernando in March were foreclosure sales.
There are currently 268 active residential listings in … (0 comments)

reo: Olive Branch MS Real Estate Market Report - March 2009 - 04/10/09 06:01 AM
Olive Branch MS Real Estate Market Report - March 2009by Pam SimpsonThe Kudzu Vine
Olive Branch MS saw 53 residential sales in March with an average price of $177,576 and average days on the market of 137.  Here are the comparisons for last month and March of 2008:
Feb. 2009Sales  51     Avg $179,403     Avg DOM  119
March 2008Sales  63     Avg $181,765     Avg DOM  124
The area with the most sales was the Plantation Lakes / Henry's Plantation areas in north Olive Branch.
**Note:  51% of the homes that sold in Olive Branch in March were foreclosure sales.
There are currently 601 … (0 comments)

reo: Tate County MS Real Estate Market Report - March 2009 - 04/10/09 05:35 AM
Tate County MS Real Estate Market Reportby Pam SimpsonThe Kudzu Vine
Here's how the numbers look for March 2009 -
There were 12 residential sales in Tate County, MS with an average sales price of $107,742.  The average Days On Market for these sold properties was 126.  3 of those sales were foreclosures (25%).
Here are the same numbers from last month and March of last year:
Feb 2009Sales:  15     Avg $124,987    Avg DOM 70March 2008Sales:  10    Avg $112,700    Avg DOM 79
Here is a graph showing where most of the sales were located:

Currently, there are 176 Active residential listings … (1 comments)

reo: 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)

reo: Olive Branch MS Market Report - Jan 2009 - 02/05/09 01:12 PM
Olive Branch MS Market Report - Jan 2009by Pam SimpsonThe Kudzu Vine
I do so much business in Olive Branch that I decided to start doing Market Reports for this area like I do for Hernando MS and Tate County MS.  This is my first market report for Olive Branch MS.
There were 29 residential sales in Olive Branch for the month of January 2009.  The average sales price was $175,280 and the average days on market (DOM) was 115.
The neighborhoods which saw the most activity were Lexington Crossing, Creekside Estates, and Hunters Ridge.
There are currently 628 Active residential … (6 comments)

reo: Hernando MS Market Report - Jan 2009 - 02/05/09 12:59 PM
Hernando MS Market Report - Jan 2009by Pam SimpsonThe Kudzu Vine
January saw 7 sold residential transactions in Hernando MS.  The average sales price increased to $213,657 but the average days on market (DOM) also increased to 250.
Here are the comparisons to last month/last year:
Dec 2008     15 sold     Avg $187,828     DOM 90Jan 2008     13 sold     Avg $213,896     DOM 174
The January 2009 sales for Hernando were spread across the city and were not concentrated in any particular area.
There are 266 Active residential listings in Hernando MS.  Using a 90-day average, that represents a 22.2 month supply of inventory.  … (0 comments)

reo: Tate County MS Real Estate Market Report - Jan 2009 - 02/05/09 12:45 PM
Tate County MS Real Estate Market Report - Jan 2009by Pam SimpsonThe Kudzu Vine
There were only 7 closed residential sales in Tate County for the first month of 2009.  The average sales price was up a little over last month to $125,986.  The average days on market (DOM) for those sold properties dropped dramatically over December 2008 number to 120 days.
Comparisons for last month/last year:
Dec 2008     15 sold     Avg $124,553     DOM 220Jan 2007     14 sold     Avg $136,971     DOM 165
Here is a graph that breaks down the sales by area:

There are currently 181 Active residential listings … (0 comments)

reo: 5 Surefire Ways To Let That Foreclosure Slip Through Your Hands - 10/30/08 08:05 AM
5 Surefire Ways To Let That Foreclosure Slip Through Your Handsby Pam SimpsonThe Kudzu Vine
This blog article is prompted by something I saw at Trulia Voices the otherday.  A buyer was lamenting the fact that he had lost out on a foreclosure bidding war and of course, blamed his agent.  Not knowing the specifics of the situation, it could be that his agent was inexperienced in REO bidding.  But I find, more times that not, the buyer has unrealistic preconceived notions about purchasing a foreclosure that proves to be the real problem - too many late night "get rich quick" … (17 comments)

reo: Realty Bid - What Am I Missing? - 10/23/08 07:43 AM
Realty Bid - What Am I Missing?by Pam SimpsonThe Kudzu Vine
I've noticed over the last couple of months a significant number of bank foreclosure listings in my area being placed on Realty Bid.  Realty Bid is an on-line auction service.  Their banner says "Benefiting Buyers, Agents & Sellers Alike".  
Since I have represented a number of REO buyers, I decided to poke around a little on the site.  I saw that a few of the properties up for auction in my area had bids, but apparently there are 'reserve' prices which had not been met.  I also noticed items labeled 'Fees' … (5 comments)

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

Pam Simpson

GRI, Broker-Assoc.

Senatobia, MS

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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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