When To Sell Your House

According to Zillow.com, mid-March to mid-April is the best time to sell your house. A recent article in CNN Money listed top reasons why you should stop THINKING about selling your house and just DO it. These are:

  1. Nationwide the inventory of homes for sale is small. This means it’s a seller’s market. There’s a better chance of selling your home quicker with little competition. Simple economics tell us that when there is a low supply, prices tend to rise.
  2. Mortgage interest rates are currently low. You never know when they’ll rise so you may want to take advantage of the low rates now, provided you qualify.
  3. Rental costs have risen 15% over the past 5 years across the country. Depending on your market, it may be a lot cheaper to buy.

Source: Why Homeowners Need To Get Moving, http://www.RealtorMag.realtor.org (March 26, 2015) and 4 Reasons to Sell Your Home Now, CNNMoney, (March 25, 2015).

Eileen P. Saunders, Realtor
Tommy Morgan, Inc., Realtors
2092 Old Taylor Rd., Suite 101
Oxford, MS 38655
662-234-5344, 662-404-0816

Home Inspections

When buying a house you want to be sure to get an inspection.  This is important because the home inspector can find all of the little and big issues that you’ll need to know regarding the the building’s structure, plumbing, heating and air, roof, and more.  Be sure to place the home inspection as a contingency item on your buying contract. Include a time frame for having an requested repairs to be completed. Include whether the seller should pay all repair costs or if you, the buyer, would consider paying for some. This contingency gives you an “out” if the inspection finds a flaw that is too big or expensive for you and the seller to want to deal with.

home inspection

If you suspect mold in the house, you may need to hire a mold specialist. Most home inspectors do not include mold tests in their line of work.

Your home inspector should provide a written report with photographs of the problem areas for clarity.

Once you receive the report, go through it and decide what is considered annual maintenance and what is a hazard.  Decide what you would like the seller to repair, and what you will repair. Be careful in this step.  Some requests to the seller could be a deal breaker and you’ll find yourself house hunting again. Put a time frame on your repair requests and once these are done to your satisfaction, you can release the home inspection contingency from your contract.

Realtors are professionals and have the training to guide you, the home buyer, through the buying process.  They are not inspectors, however, and cannot tell you what to repair and what not to repair. That is a decision you will have to make. Your Realtor is your advocate and has all of the proper knowledge and the paperwork available to handle the contract, contingencies and other concerns that home buyers have.  Consider hiring a Realtor when you look for your next home.

Eileen P. Saunders, Realtor
Tommy Morgan, Inc., Realtors
2092 Old Taylor Rd., Suite 101
Oxford, MS 38655
662-234-5344, 662-404-0816

Oxford’s Double Decker Bus Tours

One unique thing about Oxford, MS is the Double Decker Bus that travels through town. It is a tour bus with an open-air upper level, friendly driver, and informative tour guide.  I witnessed the end of a regional Ole Miss Rebels baseball game from the top of the bus last year. Hotty Toddy; Rebels won!

Riding the Double Decker Bus is a fun thing to do when visiting our town so plan to schedule a tour.

New Ole Miss students and their families attending the orientation activities this spring and summer can also tour the town on this bus. Don’t miss the opportunity.

Eileen P. Saunders, Realtor
Tommy Morgan, Inc., Realtors
2092 Old Taylor Rd., Suite 101
Oxford, MS 38655
662-234-5344, 662-404-0816

Gardening

My garden talk at the public library scheduled for last week was rescheduled due to the 4+ inches of snow that the area received.  The new date is Monday, March 9 at noon in the library auditorium. Call for a reservation since lunch is being served: 662-234-5751. Read my previous article to find out more about this event by clicking here.

Meanwhile, the Oxford Community Gardens are ready for the new growing season. Plots are available for $35. So far, no waiting list.  Contact oxfordcga@gmail.com for more information.

Eileen P. Saunders, Realtor
Tommy Morgan, Inc., Realtors
2092 Old Taylor Rd., Suite 101
Oxford, MS 38655
662-234-5344, 662-404-0816