Starkville Realtor

Today's Tour Fave

2010-03-10T11:12:00.000-06:00

Today my favorite was 1777 Steele Rd. It's a custom built 4 bedroom, 4 bath with unfinished bonus room on ~2 acres on the lake in Steele Plantation. $349,900. It is Audrey's listing - audrey@prudentialstarkville.com

March 5, 2010

2010-03-05T10:33:00.000-06:00

Yay, the phone is ringing again. I have showing appointments and many listings that have been on the market a while are getting offers. Thank goodness for March, the presumed beginning of the busy season, and the nicer weather. I am seeing more activity this week than all of last month.
Keep those calls coming in; let's go look at houses.

Short Sale Article

2010-03-05T10:30:00.002-06:00

http://homebuying.about.com/od/4closureshortsales/qt/112707_QualSS.htm

This link to a short sale article is the best to explain what it is and what happens during a short sale.
There are other links available embedded in the article to give more definitions of the process.

Update on Starkville market

2010-02-17T13:23:00.000-06:00

Everywhere I go someone asks how the market is currently in Starkville. It is looking up. We are lucky to have not had a huge bottom in sales or in prices. We have been slow but right now I am receiving more and more calls from people who are ready to start looking. Just the act of making appointments to see listings is positive momentum. The next step is actual sales! Now of course this is my personal outlook on the current activity. Feel free to ask around for other points of view.
I do think the March and April 2010 sales will be an indicator of how quickly we are rebounding.

Mortgage banker vs. mortgage broker

2010-02-05T12:24:00.000-06:00

What is a mortgage banker and /or a mortgage broker? And how do they impact you when you purchase a home?
First, the mortgage banker is a lender. mortgage bankers may consist of banks, insurance companies and large mortgage lenders. Going directly to one of these institutions can save you time as well as money.
On the other hand, a mortgage broker is an intermediary whose role is to bring the lender - that is, the mortgage banker - and borrower together. The mortgage broker may deal with one or many lenders, and he or she acts as a facilitator. A competent mortgage broker can save a buyer time in finding a lender, who will finance a purchase with attractive, highly competitive terms. Many mortgage brokers also provide advice and support to your local REALTOR.

Whether a buyer works with a mortgage banker or mortgage broker, There is one thing the home buyer should keep in mind. That is, the ultimate goal is to secure the "best" loan possible.
But what does "best" mean? For most buyers, best can be classified into four areas:

1) Service. Are the lenders noted for their service? What experiences have other buyers had with them? What are they going to do for you to make this process as rapid, smooth, and "painless" as possible? Do they have special programs (like pre-approval or low documentation loans that take the hassle out of the loan?

2) Reliability. Do they keep their word? Do they deliver when they say they will? Do they return calls or e-mails? Previous clients- what do they think?

3) Speed. Is loan approval done quickly and efficiently?

4) Cost of the loan. Is it competitive? What is the interest rate? what is the cost of ALL the fees?

Still, with these guidelines, selecting the right mortgage banker or broker can be confusing. However, there is an answer - talk to your local real estate professional. An experienced professional has dealt with many bankers and brokers. He or she knows who can offer you the best combination of service, reliability, speed and cost.

10 Basic Steps to buying a home

2010-02-05T12:15:00.000-06:00

10 Steps in the Home Buying Process

1) Obtain pre-approval letter from a mortgage lender.
2) Begin the home search based on your criteria.
3) Make an acceptable offer* (be prepared to counteroffer, know your best price, be willing to remove contingencies).
4) Finalize the purchase contract.
5) Provide your lender a copy of the contract.
6) Contact a Home Inspector (You have 10 calendar days to get inspection completed.)
7) Review and be sure repairs are not more than you expected.
8) Remove Home Inspection Contingency
9) Get Homeowner's Insurance and establish utility service for the day of closing.
10) Tell Realtor your choice of closing attorney.

Note: Making an offer does not obligate you to buy the home. If the seller does not accept your offer, you can get your earnest money back. Earnest Money is typically 1% of the asking price and needs to be provided when you make an offer. I can show you any home on the market; you only need to work with one realtor.