Contact Kiamie Real Estate to evaluate the property value before listing your next property. We use MLS data to explore neighborhood trends and discuss pricing strategies with all of our clients.
The property values is defined by the price a buyer is willing to pay for the piece of real estate.
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Home property values are on the rise while condo property values have slightly fallen. The following market comparison report is a property statistics analysis for Lafayette County. It covers the periods of January through August for 2017 and 2018. The residential market data covers all forms of residential real estate such as single-family homes, multi-family, and townhouses. Due to the number of condo/townhouse sales, statistics are likely skewed to this property type. Likewise, the residential market sales are requiring a trained professional to assess their true value. Beginning your property search? Are you thinking about buying [...]
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 [...]
Check out these real-life homebuyers mistakes to prevent falling into the same traps in Oxford MS real estate. 1. Spending too much money on a wedding or event Millennials are proven to spend large amounts of money on bachelorette and bachelor excursions that can rival the cost of many honeymoons. Many of these excursions are exceeding $1000 and costing you and your best friends at the opportunity of making a down payment to make your new married life better. 2. Buying too large of a home in the Oxford MS real estate market Many expecting parents [...]
Housing Market Data Presented here is housing market data for Oxford buyers, sellers, and property owners. Are you thinking about buying in Oxford, MS in 2017? Start your Oxford, MS residential market and land property search here. At this time, here are some housing market numbers for the greater Oxford area and Lafayette County. During 2016, there were 555 total sales of residential and townhouse/condo combined within Oxford with values ranging from $15,000 - $2,195,000 and an average price of $288,100 with a median price of $229,000. At this time, property values are showing an average growth [...]
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 [...]
If you’re a Baby Boomer selling a long-time family home, you need to get in the mindset of your not-so-distant youth and think of desirable property traits when you were looking for your first home. Sell your Oxford home by understanding the features Millennials are seeking A grand home with lots of land may not be the best fit for a young, first-time home buyer. Millennials want a smaller space to maintain. As the home is larger, it will require more work to maintain. Young, first-time buyers like the easy life. This will also [...]
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 [...]
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, [...]
Purchasing an investment property to rent is a very lucrative business in Oxford, MS. With the near endless inventory of students attending and graduating the University of Mississippi, there is constant turnover. You may also choose to rent your house if you are relocating, but wishing to delay selling. A good tenant can help create cash flows to go toward paying off your mortgage more quickly or save for a retirement account. Allowing someone to rent your home is a major undertaking. Many landlords rely on the services of a property manager to address to daily issues. [...]
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 [...]
Many buyers are running out of options due to the low housing inventory in Oxford, MS. Few options for housing inventory in Oxford, MS market are remaining With today's low mortgage rates, it seems everybody would be looking to buy a home. While many buyers are looking, rising home prices and low housing inventory in Oxford, MS has caused a lot of issues. This is especially true for first time buyers. The quick inventory turnover has lead to many new builds and consequently, the prices are driven higher with the rising demand. With unemployment [...]
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 [...]
