Investment property owner questions:

Have you ever thought about trying your hand at investing in real estate? Are you thinking of the property as a rental to make money off, or are you wanting to renovate and then sell? We will be discussing investment properties and going through some questions that may help you decide if it's right for you.

"What's my budget?"

This question is one that you should be asking yourself and going over with a financial advisor. Knowing your budget is crucial because you need to know what you can afford to buy and the cost of renovation of the property if required. Whether you turn it into a rental or flipping the home to sell, you do not want to run out of money and not finish your project. Do not be afraid to reach out to your community to see what they are looking for in a home or rental. Feedback from the people that you are serving is the best way to get information on how to better your business or side project.

"What is the vacancy rate in the neighborhood?"

Being able to understand the vacancy rate is vital. You want to make sure that you will rent your rental, or if you put your renovation on the market that it will sell. Buying and selling tend to have trends, so make sure you are entering the market at the right time. If you are renting your investment project, places with colleges nearby, army bases, and even hospitals are institutions you should contemplate. These institutions have people that are constantly rotating and moving.

"When was the roof, furnace, AC Unit, and water heater replaced?"

These elements are something that can be a considerable expense if they need replacing. It would be best if you asked your agent about the age of these items, and they should be in the property disclosure. Be sure to use your judgment as well when looking at the house and observing these items. You will eventually know what you will have to replace and can allocate these expenses into your budget.

"Is the home in a flood zone or prone to other natural disasters?"

Some houses tend to be in the flood zone, which can be a concern in many cases. Make sure to check the FEMA's flood zone map and see if your agent can find out if the home has ever flooded before. Even if the property is in the flood zone, the owners must be as honest as possible when filling out the Property Condition Disclosure Statement (PCDS). They will be able to let you know if the property has flooded before. This information is super important and can affect if the home is worth buying or not.

"Trends of mortgage and rent rates?"

Understanding and watching the market is something that can benefit you as an investor. You want to make sure that you are purchasing and either selling or renting at the right time. Learning trends before you get into investing will help you once you have started investing.

If you are thinking of investing in real estate, be sure to talk to agents and lenders, and other people who are willing to share their experience in real estate investments. It can be a tricky process to start, but the individuals in real estate investing thrive off taking a risk and facing challenges head-on. Hopefully, with these questions, you can see if you are willing to take on a side project that can eventually become your full-time responsibility.

Important Questions Seller's Should Be Asking

Do you think that you are ready to sell your house? Need some guidance in the right direction on where to turn? Hopefully, with these questions and answers, we can guide you to find the right agent. We discuss the types of questions you should be asking and the best solutions. Listing price, marketing, and preparing your house are some of the questions we will be talking through.

"How did you arrive at your suggest list price?"

The answer that comes from your agent should support it with actual data. Some factors have an essential role in figuring out the perfect price for your home. These include Similar homes in the area that have sold recently, and one is under contract pending, and the current competition in your asking price range. You can find all this information in what is known as comps, and this is a list of recently sold homes in your area. Some other factors include square footage, condition, beds and baths, lot size, and school district. If you live in a non-disclosure state, this means you will have to get your agent to show you a Multiple Listing Service (MLS) to view the sold price of homes in your neighborhood. If you observe that your agent lacks data to find your price point, they are probably inexperienced and may not negotiate for you when needed.

On the other hand, agents that practice has the chance of using this information against you. They do this by making the listing price extraordinarily high and have it sit on the market for way too long. When this happens, potential buyers start believing that there is a significant problem with the property. Your agent will come back have you lower the price, and you end up selling your home for way less than what it is worth.

"How should I prep my home to sell?"

Preparing your home to be listed is such an important step. When thinking and planning for this step, the first word that should come to mind is cleaning. You want to clean your home so that it is worthy of someone's Pinterest page. When looking at pictures, how most buyers shop today, they do not want to see clutter. Along with cleaning comes repairs. Your agent will suggest getting any minor known repairs done before getting to market. With the internet, people are shopping for houses online and seeing pictures of your home, so it's imperative to have the very best images. You get one chance to make a good impression, so make sure to hire a professional for this job.

"Are you representing the buyer also?"

When the agent represents the buyer and the seller, this is called "dual agency," and only a few states consider it illegal. NO should follow this question. If an agent tells you YES, you should probably consider finding another agent. With Dual Agency being in place, this means that the agent can no longer negotiate for you. It's also not the best practice because the agent can become careless because they are getting paid from both you and the buyer no matter what. Even though the majority of states allow this practice, it is frowned upon by many.

"How are you going to market my home?"

When interviewing your potential agent, please find out how they are going to market your home. They have many resources that they can use to sell your house to find the best buyer. You and your agent will likely talk about MLS listings, staging, description of your property, the price of the home, and advertising. It would help to find out what the selling feature of your house. With proper research, your agent should be able to use those features to show buyers. Speaking of buyers, ask your agent about the type of buyer that would be interested in your home.

By answering these few questions, you can understand the type of agent that will represent you. Agents want to convey that you can make the best memories in your home. Before getting into an agreement with an agent, make sure you are asking the right questions. Do not be afraid to ask friends that have sold their houses about their experience with their agents.

Home search in Hattiesburg, Petal, and Oak Grove

In this week's blog post, we are rounding up some of the best neighborhoods-in our opinion- in the Hattiesburg area. From Petal to Hattiesburg to Oak Grove, we will be sharing what we think brings out the best in these six subdivisions and why you should consider moving and joining the fun.

Longleaf Acres is an excellent subdivision in Petal to call home. There are smaller subdivisions that help make up this large area, including Marshall Place, Northfork, and Southfork. It is on the outskirts of Petal, meaning that it's peaceful and out of the way from heavy traffic. The subdivision is not so far out of the way, with only a 10-minute commute into Petal and only 15 minutes to Hattiesburg. This area is known to be out in the county. It has one lake that is only allowed for fishing. The average property size in this subdivision is around 1 acre per lot, giving you and your family plenty of room to hang out and play. Another great subdivision in Petal is Trailwood.

Trailwood is a large subdivision in the Petal area with two extensions: The Willows and Trailwood West. The subdivision is one large lake and two smaller ones. These subdivisions are more of custom-built homes, so there are not many cookie-cutter styles. Trailwood has easy access to the Evelyn Gandy Parkway and a few of the schools. They are in the city limits, so you must consider the taxes when purchasing a home in this location. Another development that is a great location is Timberton in Hattiesburg.

Timberton is a subdivision located right off Highway 11 with easy access to Highway 98 and Highway 49. This premier subdivision has the best of the best golf courses in the area. The houses here are custom-built and perfect for the family that is looking for something completely different. This subdivision also has another phase called Lake View that is seated between Brittany's Pond and the Club House Lake. Timberton is also near Forrest General and nestled between the two universities in town, The University of Southern Mississippi and William Carey. On the other side of Hattiesburg, there is a beautiful subdivision, Shadow Ridge.

Shadow Ridge is another golf community that is in the center of Hattiesburg, Mississippi. This neighborhood is placed within the Hattiesburg city limits and filled with custom-built homes. It is five minutes from Turtle Creek Mall and other strip malls, making it the perfect location for shopping and dining. This location is also great because you are surrounded by 500 acres of tall pines, beautiful magnolias, and luscious dogwood trees even though you are within the city limits. The golf course is 18- holes that are great for a variety of skill-level golfers.

Lake Serene sits on five lakes, making it the best for aquatic activities. It is also in a great location to the Oak Grove school and shopping in Hattiesburg. The people who live in this area are a part of the Lamar County School District, one of the area's largest school districts. This development is custom-built homes, and the plot of land tends to be larger than some subdivisions. A little further down the road is a subdivision known as Canebrake.

Canebrake is a trendy area to live in Oak Grove. It is a little further out of the way in Oak Grove but is very lovely. They have a members-only country club with a well-developed 18-hole golf course, a spa, fitness center, and indoor and outdoor dining venues. With an over 250-acre lake, this is also an excellent spot for aquatic activities that can include the whole family. Shopping and other activities are only about 15 minutes away.

These subdivisions that make up this community are vital. They are where our members get to call home and feel safe. They are where the best memories are made and are the heartbeat of the area. No matter what subdivision you decide to call home you are part of something great.

Read Why We Love Our Community

This week we are discussing what we love about the local area. Being that we live in a rural area, there are few things to do, but we can make the most of it. There are many things to love about this area and the small joys that come with it. As we grow, we are learning about new activities that are happening around us. There are seasonal things that happen, and then there are some wholesome everyday things that can occur when living in Hattiesburg and surrounding areas.

A seasonal thing that happens here is the Farmer's Market. Mississippi is an agricultural state; there is always fresh produce and having such easy access to these goods makes it one of the best events of the year. The Farmer's Market usually ends at five and if you stay around you will be able to enjoy some live music at 'Live at 5' with some local artists performing. The Farmer's Market and 'Live at 5' can be found at a park in the downtown area and usually happens from April to October.

Another thing to love about the area is the tight-knit community that comes with it. Our broker talked about how it takes a village to raise a family and that the communities became a vital part of his village. From the sporting events to the dance recitals to show choir competitions, you will meet so many families that are going through almost the same thing as you. You can learn so much about your child and get advice from men and women that have been there. The people of the Hub City community are always willing to help or lend a hand.

It is not hard to make connections here, either. There is always somebody who has a link that can help you with any project you have going on. The southern hospitality is very genuine for this area, and the people that make up the community take pride in it. Friends are easy to make, and they are the ones that quickly turn into family.

From making connections to catching local entertainment, there is always something to make you feel welcomed. We take delight in the simple times and lean on each other during the demanding times. Hattiesburg and the surrounding areas are a great place to visit but an even better place to call home.

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.