Check out our DeSoto County Open Houses happening THIS WEEKEND from 1-5 PM.. See one of our Listings that isn’t having an open house? Contact us and we’ll schedule a showing!
Here are five compelling reasons listing your home for sale this spring makes sense.
1. Demand Is Strong
The latest Buyer Traffic Index from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other for the same home.
Take advantage of the buyer activity currently in the market.
2. There Is Less Competition Now
Housing inventory is still under the 6-month supply needed for a normal housing market. This means that, in most of the country, there are not enough homes for sale to satisfy the number of buyers.
Historically, the average number of years a homeowner stayed in his or her home was six, but that number has hovered between nine and ten years since 2011. Many homeowners have a pent-up desire to move, as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners are granted the freedom to move.
Many homeowners were reluctant to list their home over the last couple of years for fear that they would not find a home to move in to. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase. Don’t wait until additional inventory comes to market before you to decide to sell.
3. The Process Will Be Quicker
Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. Buyers know exactly what they can afford before home shopping. This makes the entire selling process much faster and simpler. According to Ellie Mae’s latest Origination Insights Report, the time to close a loan has dropped to 47 days.
4. There Will Never Be a Better Time to Move Up
If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these higher price ranges has created a buyer’s market. This means that if you are planning on selling a starter or trade-up home, it will sell quickly, AND you’ll be able to find a premium home to call your own!
According to CoreLogic, prices are projected to appreciate by 4.6% over the next year. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.
5. It’s Time to Move on With Your Life
Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?
Only you know the answers to these questions. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.
That is what is truly important.
🏡Offered by Donnie Chambliss, licensed in MS
Have you ever wanted to start your own business? Is the business location you’re in now too small or off the beaten path? Check out our latest DeSoto County Office Space for Sale or Lease below.
🏡Offered by Donnie Chambliss, licensed in MS
1130 E. Stateline D-E
2,100 Sq Ft. | Suite D includes 3 large offices, open workspace with a lobby, restroom | Suite E has one large meeting room, 3 offices, Restroom, and Break Room. | $2,000 FOR LEASE
Great opportunity to lease commercial space on Stateline Road in Southaven, Mississippi. Suites D and E are available for lease and total 2100 square feet. Ample parking and drive-up storefront access are available. Current tenant mix includes a logistics corporate office and a salon. Beside ServPro DeSoto County location. 5 year lease; 2000 per month.
6858 Swinnea Road 1A – Southaven
2,125 Sq Ft. | 6 Offices | Reception | File / Work Room | Break Room | 2 Restrooms | $3250 FOR LEASE
6890 Autumn Oaks Drive – Olive Branch
3,015 Sq Ft. | 3 Restrooms | Currently Used as Professional Salon | NEW PRICE $372,000
- In the majority of the country, this weekend marks the start of Daylight Savings Time as we set our clocks forward an hour on Sunday at 2:00 AM EST.
- Whether you plan on buying or selling this spring, these tips could help you ‘spring ahead’ of your competition!
- Spring brings two things: more buyers & more sellers! Get prepared now to stand out in the crowd!
Once again, Northwest Mississippi Association of Realtors will be offering graduating seniors in Desoto, Tate, Tunica, and Marshall Counties the opportunity to be awarded one of 15 – $1000 scholarships.
Each student must submit a completed application and participate in the interview phase to be eligible. If you have the desire to continue your education and are in need of financial help, take advantage of this wonderful opportunity.
Applications will be sent to all area high school counselors and will also be available directly from their Board of Realtors.
The deadline for application submission is March 15, 2019.
Don’t miss this opportunity!!
Now is the time to prepare for your future and let the realtors in your area help you!! Let them know why you should be the one to receive one of these great scholarships!
For more information, contact: NWMAR @ 662-449-3553
As we kick off the new year, many families have made resolutions to enter the housing market in 2019. Whether you are thinking of finally ditching your landlord and buying your first home or selling your starter house to move into your forever home, there are two pieces of the real estate puzzle you need to watch carefully: interest rates & inventory.
Mortgage interest rates had been on the rise for much of 2018, but they made a welcome reversal at the end of the year. According to Freddie Mac’s latest Primary Mortgage Market Survey, rates climbed to 4.94% in November before falling to 4.62% for a 30-year fixed rate mortgage last week. Despite the recent drop, interest rates are projected to reach 5% in 2019.
The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power.
Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford to buy will decrease if you plan to stay within a certain monthly housing budget.
The chart below shows the impact that rising interest rates would have if you planned to purchase a $400,000 home while keeping your principal and interest payments between $2,020-$2,050 a month.
With each quarter of a percent increase in interest rate, the value of the home you can afford decreases by 2.5% (in this example, $10,000).
A ‘normal’ real estate market requires there to be a 6-month supply of homes for sale in order for prices to increase only with inflation. According to the National Association of Realtors (NAR), listing inventory is currently at a 3.9-month supply (still well below the 6-months needed), which has put upward pressure on home prices. Home prices have increased year-over-year for the last 81 straight months.
The inventory of homes for sale in the real estate market had been on a steady decline and experienced year-over-year drops for 36 straight months (from July 2015 to May 2018), but we are starting to see a shift in inventory over the last six months.
The chart below shows the change in housing supply over the last 12 months compared to the previous 12 months. As you can see, since June, inventory levels have started to increase as compared to the same time last year.
This is a trend to watch as we move further into the new year. If we continue to see an increase in homes for sale, we could start moving further away from a seller’s market and closer to a normal market.
If you are planning to enter the housing market, either as a buyer or a seller, let’s get together to discuss the changes in mortgage interest rates and inventory and what they could mean for you.
Congratulations on purchasing a home with us in 2018. You may remember us talking about you filing for Homestead. You must apply for Homestead Exemption before April 1, 2019 at 5:00 p.m. on your 2018 home purchase.
What is it?
Homestead is an exemption you can apply for on your property taxes. Every homeowner is responsible for paying taxes on their property, regardless if they have a mortgage or their property is paid for. The local Tax Assessor determines, or assesses, a value for your home and the land that goes with it that you are responsible for paying taxes on. Most of the time the assessed value is different than the amount of money you actually paid for your home.
Are you eligible?
Anyone who owns a primary residence in DeSoto County can file for Homestead. All you need to do is live in your primary residence on January 1st of the year you wish to file.
Why it’s important:
Filing for Homestead lowers the amount you must pay for property taxes on your home! Who wouldn’t want to save money for doing nothing other than living in their own home?
Where to go:
365 Losher Street Suite 100
Hernando, MS 38632
What you need to bring:
- A copy of your recorded warranty deed
- Your MS car or truck tag numbers
- Social security number for you and your spouse
- Your closing or settlement statement
- If over 65 by January 1st of the filing year, bring proof of your birthday
- If 100% disabled you will need to bring proof of disability from Veteran’s Administration or the Social Security Administration
I filed last year, do I need to file again? No, once you file once, you don’t need to file again unless you move.
Feel free to give our office a call if you have any questions! (662) 349-5550
– Donnie Chambliss & The DC Team, Crye-Leike, Realtors
It’s the most wonderful time of the year and these Move-In Ready Hernando Homes for Sale are ready for you to call them home sweet home.
🏡Offered by Donnie Chambliss, Crye-Leike, REALTORS licensed in MS
Here are some local volunteer opportunities for December courtesy of Maddox Foundation Volunteer Center.
Register as a volunteer on mfvcenter.org and access these and other local volunteer opportunities.
All month long:
Mid-South Toys for Tots Christmas Drive Continues
The USMC Reserve continues its annual Toys for Tots Christmas Drive. Volunteer behind the scenes organizing and facilitating the donation process.
Sign up here.
December 3 – 11
Fill Angel Bags for Distribution, Walls
Filling Christmas Angel Bags with goodies in Walls at the Sacred Heart Southern Missions warehouse any time between 9:00AM and 3:00PM.
Sign up here.
Mobile Food Distribution at the Landers Center, Southaven.
Hundreds of DeSoto county families are served with food boxes to supplement their budget.
Volunteers are asked to arrive at 1:30PM and work until 5:00PM. Volunteers sort food, fill boxes, and place in cars during a drive-through distribution. The distribution is outside so dress for the weather.
Sign up here.
Palmer Home for Children Christmas Open House, Lake Cormorant
The Palmer Home Christmas Open House is December 13 from 5-7 p.m. It is a come & go event and there will be light food, hot chocolate, and cookies! This evening will also feature a special performance by their very own choir, the Treblemakers, and a short message by their President, Drake Bassett. They invite you to come join them and learn more about Palmer Home for Children. Then they invite you to learn more about volunteer needs at Palmer Home.
Sign up here.
Distribute Angel Bags, Hernando and Olive Branch
Distribution of Angel Bags at the Sacred Heart Southern Missions Social Service offices between 9:00AM and 12:00 Noon in Hernando, Olive Branch, Tunica, or Holly Springs.
Sign up here.