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Moving Relocation Tools > Real Estate Tips by State > Mississippi Real Estate
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How can I find financial assistance to buy a home in Mississippi?If you have been searching for Mississippi new homes but need a little financial assistance to become a first time home buyer then check out these programs. HUD Homeownership Vouchers. Low income Mississippi residents may qualify for grants, low interest financing or even subsidized mortgage payments through the Mississippi Homeownership voucher program. For more information contact the office nearest you.
Mississippi Community Action Partnership. Information and assistance oversight, the Community Action Partnership administers various programs located throughout the state. For more information visit http://www.communityactionpartnership.com/. Delta Housing Development Corporation/DHDC. The DHDC provides housing assistance to economically disadvantaged families in the Delta region. To learn more visit http://www.ruralisc.org/delta.htm. More Real Estate Tips. Manufactured Real Estate as an Investment?The rising cost of Mississippi new homes has increased the interest in manufactured real estate as a potential investment. While manufactured homes have grown in popularity, there are pro's and con's to buying manufactured homes as a real estate investment. Pros... Affordable. Manufactured real estate tends to be less expensive than site built structures but not always. The wide variety of finishing touches, options and upgrades can result in a package that rivals a site built structure so keep your eye on the cost if the intention is to remain within a specific price range. Fast & Easy to Establish. Construction to loan permits, obtaining a certificate of occupancy, construction delays due to weather and other costly obstacles frequently encountered when building a Mississippi new home are minimized or eradicated with manufactured real estate. Versatile. Manufactured real estate had a less than desirable reputation in the past in large part due to inferior workmanship and lack of variety. Today, manufactured homes come in a wide variety of shapes, sizes and materials while even allowing some customization. Income Potential. The income potential generated from a manufactured property versus a traditional site built home is minimal. Cons... Insurance. Manufactured homes may cost more to insure depending upon the age, type of construction and location. In some cases, insurance can be a significant consideration where homeowners have found it difficult to find an insurance company to write new policies on manufactured homes. Depreciation. While the underlying real estate continues to appreciate, not all manufactured real estate realizes the same gains – or losses. In general, manufactured real estate tends to depreciate more than site built homes although the new models are closing the gap. Safety. Manufactured homes are now built to much higher standards than in the past however, there is still a widespread degree of concern about the safety during hurricanes or other catastrophic weather conditions. More Real Estate Tips. What should I know about landscaping my new yard?Mississippi new homes typically require extensive landscaping but you might be surprised to find gardening in the Magnolia state takes a little training. Here to help are some Mississippi Gardening tips you won't want to miss. 1. Gardening S.O.S. Not sure what that insect is? New plants suddenly taking a turn for the worst? Just plain out of answers? When all else fails contact the Mississippi Agricultural and Forestry Extension Service maintained in collaboration with Mississippi State University. This great resource provides expertise and assistance throughout the state through a volunteer network of Master Gardeners. Information on crops, plant diseases, growing conditions and other valuable resources are readily available. For more information visit http://msucares.com/site_map2.html. 2. Go Organic! Did you know that organic plants are more pest resistant? Natural selection readily eliminates the weaker plants leaving the stronger specimens to thrive. Going organic might require a transition period but in the long run, it results in stronger healthier plants with less use of harmful pesticides. 3. Leave the Trees. Trees help reduce the cost of cooling your home during those hot Mississippi summers and provide a natural mulch that nourishes your yard throughout the fall and winter. Buy a compost bin and turn those leaves into black gold to keep your garden and shrubs growing lush and beautiful the following summers. 4. Plant Native Species like Red Maple, Indigo Bush or Swamp Dogwood trees along with other low water, highly tolerant shrubs to reduce the use of water and time spent maintaining the yard. 5. Kudzu is not your friend. Learn how to recognize invasive species like Kudzu early so you can eliminate the problem before it takes over the yard. More Real Estate Tips. How tdo I Purchase Manufactured Real Estate?When shopping for Mississippi homes for sale many people are interested in purchasing vacant land to place a manufactured home on or perhaps buying an existing dwelling. Learn how to purchase manufactured real estate with this helpful guide. 1. No Longer Mobile. Manufactured homes used to be called "mobile homes" but today, less than 5 percent are ever relocated. Manufactured homes are assembled elsewhere and then set-up on the property in strict accordance with state and federal guidelines. However, older manufactured homes may not have been required to adhere to the same standards as today’s homes. Before buying a manufactured home, have a complete inspection performed to assure the foundation and other procedures are up to date and meet safety regulations. 2. Insurance. Prior to making an offer on manufactured real estate take time to obtain at least three insurance quotes. Depending upon the age, location and other information, some manufactured homes can be costly to insure. 3. Warranty. Newer manufactured homes come with a warranty. Obtain copies of the warranty information for the home, appliances and other items included in the purchase price of the home. The manufacturer’s warranty is different from the retail warranty so ask for copies of each. Relatively newer manufactured homes may also have transferable warranty information available. 4. Set-Up. If you are purchasing raw land be sure to consider zoning laws, covenants, hookup regulations, impact fees and other requirements. Additional costs may include clearing and site preparation, fill, driveway and utility easements. Calculate the complete cost before purchasing a new manufactured home. 5. Communities. The option to place a manufactured home in a community can save up-front costs but the ongoing association’s fees can add up over the years. Be sure to obtain a copy of the community covenants and rules prior to making a final decision. More Real Estate Tips. What are the fiduciary duties required of a buyers agent?When searching for Mississippi real estate, take time to interview a buyer’s agent that will represent your needs throughout the real estate search, negotiation and closing. Buyer’s agents are bound by six fiduciary duties designed to protect the interests of the buyer. Use this quick quiz to measure how your prospective buyer’s agent measures up in their knowledge of performance, care and duty. Question: Please list the fiduciary duties expected of a buyer’s agent when representing a buyer? Answer: 1. Confidentiality 2. Accountability 3. Reasonable Skill and Care 4. Loyalty 5. Adherence to Lawful Instructions 6. Full Disclosure More Real Estate Tips. What is call capture and how does it work?Never heard of call capture? Most people haven't which is what makes it so effective. Call capture is one of the newest ways to target unsuspecting buyers while they are shopping for real estate. It works like this... Let's assume you are driving around looking at Mississippi homes for sale when you see a foreclosure property. There are two yard signs sitting in the front yard, one for a local real estate sales agent and another with "recorded information" and a toll free number. Since you are just looking and not in the mood to talk with an agent, you decide to call the toll free number to listen to the pre-recorded call. Bingo! You just fell prey to call capture. By calling the toll free number, the agent or other real estate company has "captured your phone number (even if it is unlisted or non-published) and know that you have been searching for homes. Armed with the date, time, property of interest and your phone number they call you back with the full sales pitch sometimes within minutes. This is possible because the call triggers an alert which is sent directly to the email or phone of the agent paying for the service with the hope that they can assist you in "real time". Here is how to make call capture work for you. If there is a property you are really interested in seeing then try the toll free number before calling the office. In most cases you will receive a call-back much faster than trying to locate the agent. Not only will you learn basic information about the property from the pre-recorded message but could speak to an agent even faster. On the other hand, if you really are just looking and not in the mood to speak to anyone then either skip the toll free number or be prepared to let it ring. The decision of when to talk to an agent is yours but with a little know—how it’s easy to let call capture work for you! More Real Estate Tips. How can I lower my property taxes?Mississippi real estate taxes are often re-assessed when a property is sold. Now that home prices have dropped, millions of people across the nation are paying more in property taxes than they should. Recent data released by the National Taxpayers Association found that nearly 60 percent of taxable property in the United States is over-assessed. To learn how to lower your property taxes use this quick checklist. 1. When buying Mississippi new homes make sure the appraisal is based upon the most recent data available. 2. Existing home owners can make a home more attractive to potential buyers by filing an appeal to have the property reassessed. Nearly 1 out of every 3 appeals is successful. 3. Contact your local county property tax assessment office to obtain the necessary paperwork to file an appeal. Be sure to ask what formula they use to calculate the property taxes then do the math yourself. 4. Verify information contained in the property description and real estate sales data is correct. Errors are common and can be costly. More Real Estate Tips. |
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