The home inspection is the most important pre-purchase task that a buyer can perform. A home inspection helps buyers by identifying repairable items that sellers may have been otherwise aware. A buyer can expect to receive a 40- to 60-page report with high-resolution color photos, detailed diagrams, and links to additional information. The reality is that buyers have access to more information about the home they are purchasing than ever before. The primary focus of the home inspector is to provide buyers and sellers with a better understanding of the physical condition. Items such as the [...]
Many homeowners in the Oxford real estate market look to their home as a means to increase their overall net worth. Here, we will discuss several techniques that homeowners can use. Building equity in Oxford real estate market with capital The initial equity in the home will come in the form of the down payment. Increasing the equity in the home will require additional monthly payments to the principle as well as property appreciation. From 2016-2017, property values showed an average appreciation of 1.6% or more. In this way, a home behaves much like a publicly traded [...]
Meet with your CPA to see if you could qualify and save tons of money with the Section 1031. Tax benefits for businesses owning real estate The 1031 Tax Deferred exchange has been beneficial for individuals in agriculture and small businesses since the 1920's. Over the years, it has provided tax benefits for businesses owning real estate by deferring capital gains taxes. As a result, the business owners have been reinvesting the sale proceeds on assets held for business and investment purposes. The basis of the 1031 Tax Deferred exchange is related to [...]
Inspecting Oxford MS Condo: helping buyers know what they are buying A home inspection is an assessment of the home's current condition. Inspecting Oxford MS condo is common even if the buyer is not financing. The home inspection identifies problems with houses and condos and give buyers knowledge of the pertinent issues. Home inspections in Oxford are seldomly, if ever waived. It is all part of the due diligence process for buyers. Buyers investing in a property want to know what are the physical conditions of the unit. If you are a seller, you may have [...]
2017 data shows a decrease in the number of single family homes for sale in Oxford, MS though an increase in sales price. Declining number of homes for sale Throughout the year, there has been declining housing inventory. Several factors play into this trend as shown here. The Wall Street Journal has also cited the effect of Airbnb as a catalyst of rising home prices and rents. For the full WSJ article, click here. National and local rent trends Edward Kung, an assistant professor of economics at the University of California Los Angeles, told The Wall [...]
Oxford property listings may start featuring drone footage to help sell a lifestyle Drones perform gradual climbs, rising over the roof line to show wear and then, fly over a backyard with a pool. Drone video has shown increased use in single-family real estate by creating eye-catching visuals of the outdoor spaces of Oxford property listings. Aerial images lead to greater home sales The MLS (Multiple Listing Service) reports that homes with aerial footage sell up to 68% quicker than those properties listed with standard photographs. Among the luxury home and acreage Oxford property listings, this [...]
Oxford condo staging leads to quicker sales One of the keys to selling your Oxford home fast is staging the property. Take a look on the Oxford properties on the MLS. One thing that you will notice in common with the great listing photos is that the staged homes are more welcoming. Likewise, staging invites the home buyer to imagine the lifestyle that could be possible if he or she lived there. Oxford home buyers want to know how they may live in the space Walking into a barren room can confuse some home buyers who [...]
Alert residential real estate buyers in Oxford! More positive news for residential real estate buyers in Oxford! The National Association of Realtors Pending Home Sales Index, an indicator of housing demand, fell 0.8% in May for the third consecutive decline. Economists are speculating that interest rates are unlikely to rebound to pre-election highs of 4.3% amidst concerns of the new administration triggering more economic growth. Mortgage rate trends to 10-year T-bill Mortgage rates tend to follow the 10-year Treasury yields. For this reason, mortgage rates will increase if investors are expecting short-term interest rates to rise due [...]
Upgrades to your Oxford MS condo before listing As a seller, you need to think about the function of your condo before listing. Selecting upgrades and repairs should focus on making the living space easier, rather than personalize the space. Before you begin, take some time to recognize and avoid these issues when selling your home. Here are some ideas to make your condo show well. Repair the obvious functional flaws. A homeowner will recognize many repairs as obvious fixes. The repairs should be performed by someone reasonably skilled in handyman-type of repairs. These items include, but are [...]
Oxford MS housing market predictions Without a doubt, 2017 is showing the real estate market in Oxford is very strong. If the property is priced right, I've seen homes sold in less than 1 day. For some time, there has been a short supply of housing inventory and the response has been to build more. For renters, they have seen prices steadily rise as well. Some national trends such as interest rates will affect the Oxford market though their impact is uncertain. Here is Kiamie Real Estate's Oxford MS housing market predictions for 2017: Rents will [...]
Over ten years ago, I met my broker, A.J. Kiamie. He came to see the available for sale next door to my house. Neither one of us were in residential real estate at the time. Yet, I made my first sale. Eager to get a neighbor, I greeted him in the driveway and spoke very highly of the current owner and neighbors, the development, and the house for sale. I also promised to wash his truck if he bought the house. A few weeks later, he moved in the house. Flash forward to now, we run a [...]
Are you selling your home in Oxford and wondering where to begin? Imagine people walking through your home saying anything coming to their minds. Most certainly, they will criticize something that is far more meaningful than to you than a collection of building materials bound by nails, screws, glue, and concrete. More often than not, these same people will make an offer far less than the money that you think your home is worth. For these reasons, it can become a very deeply emotional transaction. Would you like to learn how to get the [...]
The kitchen is one of the most popular room in homes with many people focused on functionality, entertaining, and higher end finishes. The kitchen is overwhelming the most popular room in homes A home that includes a “killer kitchen” or “luxury kitchen,” as described by the sellers, sells 8% faster than similar-sized homes in the same ZIP code. For this reason, a kitchen has become a focus of any renovation plan, home decor upgrade, and listings description. According to a study by realtor.com analyzing the rooms most mentioned in listing descriptions, the kitchen has [...]
The neighborhood market value is the driving factor to determining if a fixer-upper in Oxford, MS is worth it. Everyone wants a deal Many first-time Mississippi property buyers as well as seasoned investors find great benefits to searching for fixer-uppers. It allows the home buyers to purchase a property with a limited budget by targeting homes below market value. Well-informed home buyers search for a fixer-upper in Oxford, MS after studying the principle of progression vs. regression. Let's look at these principles. The principle of progression as it relates to a fixer-upper in Oxford, [...]
Currently, Oxford has a strong buyer's market with all great inventory having a very short turnover time. While missing on a few great properties is a norm for buyers, sellers are left wondering: how high can I sell my house? Sellers always want to sell their property for as much as possible. If curb appeal attracts passers by, low price attract offers and gives the seller the best chance for a high sale. The answer is to aim your list price low to get the high value that you want. This approach is [...]
There has been a tendency in recent decades to view the home equity as yet another financial investment. Waiting out the recession was tough for many, as jobs were scarce and defaults became rampant. However, for seniors that were able to endure the recession and hold on to their homes, there may be a light at the end of the tunnel. Property value to the rescue! Over 70% of Americans over the age of 65 are homeowners. Seniors now hold a huge stake in the countries home equity, a whopping $5.83 trillion to be [...]
A killer kitchen will leave the home buyers with a great impression over than anything else you can do. Where to start when you remodel? Remodeling your home can greatly increase its value, as well as make it much more welcoming to buyers. Of all the rooms in a house one of the most expensive to remodel is the kitchen. But the kitchen also has the most value as many have recognized the kitchen is the most popular room in the house. From new appliances to granite counter-tops and cabinetry, it is easy to go [...]
While it may take some time to cross the break-even point, a refinance is a good idea if you are planning to stay put for awhile. Pros of refinancing your mortgage There has been a lot of buzz in real estate news lately due to continually decreasing mortgage rates. Low mortgage rates are not normal throughout financial history. Current rates are nearing historic lows. For historical data about mortgage rates, check out Freddie Mac archival data recorded since 1971. Mortgagors need to be give serious analysis to these low-interest conditions when they do occur. [...]
