Tag Archives: real estate

Reasons To Use A REALTOR

The following is reprinted with permission from the Tommy Morgan Inc Realtors email newsletter March 2020 and the National Association of REALTORS website:

Why is Tommy Morgan Realtors the best choice?

REALTORS® aren’t just agents. They’re professional members of the National Association of REALTORS® and subscribe to its strict code of ethics. This is the REALTOR® difference for home buyers:

  1. Ethical Treatment
    Every REALTOR® must adhere to a strict code of ethics, which is based on professionalism and protection of the public. As a REALTOR®’s client, you can expect honest and ethical treatment in all transaction-related matters. The first obligation is to you, the client. 
  2. An expert guide
    Buying a home usually requires dozens of forms, reports, disclosures, and other technical documents. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes. Also, there’s a lot of jargon involved, so you want to work with a professional who can speak the language. 
  3. Objective information and opinions
    REALTORS® can provide local information on utilities, zoning, schools, and more. They also have objective information about each property. REALTORs® can use that data to help you determine if the property has what you need. By understanding both your needs and search area, they can also point out neighborhoods you don’t know much about but that might suit your needs better than you’d thought. 
  4. Expanded search power
    Sometimes properties are available but not actively advertised. A REALTOR® can help you find opportunities not listed on home search sites and can help you avoid out-of-date listings that might be showing up as available online but are no longer on the market. 
  5. Negotiation knowledge
    There are many factors up for discussion in a deal. A REALTOR® will look at every angle from your perspective, including crafting a purchase agreement that allows enough time for you to complete inspections and investigations of the property before you are bound to complete the purchase. 
  6. Representing your interests
    By law, a designated seller’s agent must “promote the interests of the seller with the utmost good faith, loyalty and fidelity” and must “protect the seller’s confidences…” A smart seller will hire a good seller’s agent to work for them in this fashion – As they should. Simply put, the seller’s agent is only looking out for the seller. Understanding this, it is important to realize that what you say to a seller’s agent may compromise your ability to negotiate the best deal for you. If, for example, during an open house, you casually mention to the seller’s agent that your family must be relocated by the end of the month to accommodate the start of a new job, the seller’s agent, by law, must “promote the interests of the seller” by letting the seller know about your situation. As a result, the seller is now aware that you are somewhat desperate and must move quickly, thus compromising your ability to negotiate the best deal. 
  7. Your rock during emotional moments
    A home is so much more than four walls and a roof. And for most people, property represents the biggest purchase they’ll ever make. Having a concerned, but objective, third party helps you stay focused on the issues most important to you.
Eileen Saunders, SRES REALTOR with Tommy Morgan Realtors BOF-Oxford 2092 Old Taylor Road #101, Oxford, MS 38655  662-404-0816/662-234-5344 eileen@tmhomes.com

Reasons to Buy a House or Condo for your college student

Investing in real estate is always a good idea. Why not start with your college student’s housing needs for an investment while at Ole Miss?

Most upper-level students do not have on-campus housing available to them at the university since it is secured mainly for freshman and Greek organizations. Finding an apartment, condo or house to rent off campus is not always easy, especially when your student doesn’t have particular friends to move in with.

Off-campus housing will assign you to a unit in their complex and you meet your apartment-mates usually a week before school starts. While these student-housing facilities do try to match students with people of similar study habits, noise level sensitivities, and interests, it does not always work out. When the year is over, your student is back to looking for another place to live.  How many times do you really want to move?

Did you know if a student moves out of one apartment complex and into another for the next school year, move-out date is always July 31st by noon and move-in date is always the week before school starts. If you choose to rent, reserve a storage unit now for next July-August and find a place for your child to stay during those 3 weeks. Storage units, hotel rooms and moving trucks/trailers are hard to find during that time and once reserved, are subject to cancellation without you being told.

Off-campus rental rates are competitive with on-campus dorm rates but get expensive depending on the facility. A single-bedroom unit will cost much more than a 4-bedroom apartment.  Many off-campus housing facilities offer amenities your child may not need or use, but these are built into the rental price.

Before deciding to pay rent to someone else, consider purchasing a house or condo for your child while they are at college. Here are some benefits to purchasing:

  1. Rather than pay rent (which pays someone else’s mortgage) pay down a mortgage loan on the house or condo that your child can live in for the duration of their college experience.
  2. When your child graduates, you can sell the condo. You’ll most likely recoup your monthly payments, over the 3-4 years you own it, with the sale price. (You cannot recoup rent payments made to someone else.)
  3. If you have other children who might attend, you already have housing waiting for them.
  4. If your student wants a roommate, rent out one of the extra bedrooms for income. Use it toward the mortgage or as living expenses for your child. You stay in control.
  5. A condo purchase will give you a tax break on mortgage interest each year.
  6. Your child can live away from the hustle and bustle of the off-campus student apartments. While some students want the excitement, many others would rather enjoy the quiet for studying and decompressing after a tough school day.
  7. Choose a condo size wisely. Multiple bedrooms offer you a place to stay when you visit.  Ole Miss and the City of Oxford have many events throughout the year you may want to attend. These include: Music, Theatre and Art department events and performances, Homecoming, Parent’s weekends, sports games and tailgating, Double Decker Arts Festival and, of course, graduation. While there are hotels and short-term rentals available, why bother with the added expense or the chance of not finding a room. Rates are high for special event’s weekends and can book months, if not the year, before.
  8. Condos have assigned parking and usually one spot per bedroom in each unit. So a 3-bedroom condo will have 3 parking spots. And don’t worry about special events weekends; most have security guards to keep out non-guests so your parking spot is assured.
  9. Most condos are on the public bus route in Oxford so your child can leave their car at home. Commuter parking passes on campus are reasonably priced if using their car is a must.
  10. Condos have restrictive association rules so you know the other residents/owners will guard their vested interest and make the community a safe and respected place to live.

Oxford, MS is a rural community and you may qualify for a variety of mortgage loans not available in larger cities. Consult a mortgage banker in Oxford for more information. Meet with your financial planner to find out if purchasing a condo is a wise choice based on your current financial situation. And, talk to a real estate attorney or title company about pros and cons of putting your student’s name on both the deed and the mortgage. When you’ve decided to hunt for a condo or house for your student to live in, call me to show you what is available.

Eileen Saunders, SRES REALTOR with Tommy Morgan Realtors BOF-Oxford 2092 Old Taylor Road #101, Oxford, MS 38655  662-404-0816/662-234-5344 eileen@tmhomes.com
This article was written by me and previously published on Parents of Ole Miss website

What Does MLK, Jr. Have To Do With Real Estate?

The following was from a free swipe file offered by Mike to subscribers of Lighter Side of Real Estate e-letter. He wrote it and I’m passing it along for you to read, this time as a letter to you from me. Thanks for the freedom to swipe it, Mike. Happy MLK Day.

So what does Martin Luther King, Jr. have to do with real estate?

“I have a _________…

I’m about 100% sure I can guess what word you chose.

Was it “dream”?

Good chance it was. We all know this line from Martin Luther King, Jr.’s famous speech. So when we hear those first three words, it sort of naturally comes to mind.

But what many people aren’t aware of is how much he affected the lives of real estate agents, buyers, and sellers.

It was his death that gave Congress the last push needed to pass the Fair Housing Act, back in 1968. It’s pretty involved, so I won’t get into it all here, but to put it simply…

Equal Housing Logo

This was put in place to ban racial discrimination in housing. You can’t be refused the rental or purchase of a house, based upon your race.

Seems simple enough to most people now. A given, if you will. But it didn’t happen overnight. And believe it or not, it still can and does come up.

But guess who’s a big part of making sure this Act is followed…

On the front lines, it is people like me. Real estate agents. We’re tasked with making people aware that discrimination based upon race (and many other things) are not acceptable, and we must refuse to work with anyone who wants to do so.

And I am proud to be a part of this ongoing history.

Just figured I’d take this appropriate moment to pay him some respect, and to give you some insight into how much more responsibility a real estate agent has than meets the eye.

That’s all for now…

…and may your dreams come true.

Eileen Saunders, SRES REALTOR with Tommy Morgan Realtors BOF-Oxford 2092 Old Taylor Road #101, Oxford, MS 38655  662-404-0816/662-234-5344 eileen@tmhomes.com

 

Reasons People Sell Their Homes

People have many reasons for selling the home or investment property that they own. Often, buyers or other agents will ask, “why are the homeowners selling?” Unless the sellers want people to know their reason, this is confidential information.

Sometimes this question can be interpreted as “what’s wrong with the house?” Generally, if there are any issues with the house or land, it will be stated on the property disclosure statement. This disclosure answers all the questions the particular state’s laws require to be disclosed including (but not limited to), any past water damage, structural damage from natural disasters or termites, mold, lead paint, and age of roof and appliances. Many states do not require disclosure of rumored hauntings or previous death, but some do.

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If a buyer really needs to know these non-disclosure issues, they can research it themselves. Crime reports are available online or by calling the local police department. Paranormal activity and previous death in the house can be found in old newspapers or by other means of research.  Other non-disclosed items can be personal issues, for example, a dispute with a neighbor that makes it uncomfortable for the seller to stay in that neighborhood. The property might be near a commercial development and the seller no longer wants to deal with the heavy traffic it brings. A buyer might want it for the convenience.

If the planned development hasn’t started yet, you should know all you can about the plans. Ask your agent for information available about approved future plans that might affect your purchase.a-buy-me-a-coffee-987096_1920

Frankly, there are so many reasons to sell property that, unless it’s a required disclosed issue, it really shouldn’t be a concern to anyone. Often, the reason is a confidential one and it is their real estate agent’s job to sell the house, not gossip about the seller and their problems.

Here is a small list of possible reasons a seller is selling. There are plenty more, but this should give you, as a buyer, pause for thought that it really does not matter. If the house is desirable and you feel good about it, then you have a great reason to purchase it.

  • Downsizing
  • Retiring in another town/state/country
  • Job transfer
  • Need to put kids in a different school district (maybe for sports or arts program)
  • Need a larger house
  • Neighbors entertain often and are noisy
  • Neighbor children play musical instruments the seller can hear
  • Want a property to put in a pool
  • Wants a new house/new construction
  • Wants a one-level rather than a two-level house
  • Moving to assisted living
  • Moving in with family
  • Building the dream home
  • Death
  • Inherited land the recipient does not want
  • Long-held investment, time to sell
  • Illness
  • College children graduated and no longer need the condo
  • Rental property too much trouble to maintain
  • Divorce
  • Personal dispute with neighbor
  • Wants to move to a neighborhood without HOA restrictions
  • Wants a neighborhood with deed restrictions
  • Moving to the country
  • Moving closer to town
  • Land nearby is being developed and want to be away from the higher traffic it will bring

You can probably come up with more reasons to sell and move. If you are buying a house or land, you have your own reasons for doing so.  You are about to make one of the biggest purchases of your life, focus on what is great about it and how it fits into your life. Be thankful that property is available for you.

Mark Twain once said, “By land, they aren’t making it anymore.” If the opportunity for land or for the house on the land comes along and you want it, do your due diligence and then go for it if it fits your needs.

Eileen Saunders, SRES REALTOR with Tommy Morgan Realtors BOF-Oxford 2092 Old Taylor Road #101, Oxford, MS 38655  662-404-0816/662-234-5344 eileen@tmhomes.com

 

Oxford: A Retirement Community

Recently Oxford MS was featured in Where To Retire magazine.

Oxford is a great community for retirees. It offers a lot to do for retirement-aged residents. The University of Mississippi is a social connection for many retired alumni as well as for those retired residents who have no college connection here. Football, baseball, basketball and other sports and keep a fan busy year round.

There are plenty of classes for a retired person to participate that both the city of Oxford, private organizations and the university offer. Exercise classes, art classes, special interest classes are just a few.

Activities such as the Oxford Civic Chorus, volunteering opportunities, Newcomers Club, Thacker Mountain Radio and the monthly art crawl can fill up a calender quickly.

The weather, choice of restaurants, availability of doctors in Oxford, quality golf courses, low taxes and abundance of theatre productions also help to make Oxford MS the place retirees want to live in.

Many people have read headlines or accolades about the article in the January issue of Where To Retire but I suggest you get a copy of the magazine and read the original article. The writer visited Oxford several months ago, met with several retired residents for their view, toured the city, ate in the restaurants, stayed in a local hotel and visited places in Oxford that are special to the town.

I was asked to spend a few hours with both the writer and a representative from Visit Oxford. I gave them a real estate tour of the town and answered a lot of questions relating to how the city meets or can meet the needs of retirees.  My background and training as a Senior’s Real Estate Specialist (a designation earned through the National Association of Realtors) enables me to help the 50+ population with their special housing needs. These include downsizing, selling the family home, second home sales, aging in place, home design trends, multigenerational living and emotions involved in moving the aging population.  I work hard to stay on top of these issues so I can help buyers who want to retire in Oxford or move to a more aging-friendly home.

SRES 2011

I encourage you to look into the neighborhoods that were noted in the article and investigate others. Read what featured residents say about the town and why it became their new home town. Research the cost of living, crime rate, services and activities for active retiree living and for the elderly who may need any level of  assistance (in home help, transportation, personal shoppers, etc).

Oxford often finds itself on a “top” list and that says a lot for why the city is loved so much, but by reading the original articles about why Oxford is at the top of a list, you can learn more. This goes for any town or city that you may live in or want to live in.  Wouldn’t you want to know why it made the list?

As a real estate professional, I appreciate learning what people find interesting so I can pass that information along to the next person seeking an Oxford home for their retirement years or for a second home until they retire. Business owners and other professionals in town could use that information to not only stay above the competition, but to spot the trends that can help improve their business and better serve the population.

Where to Retire magazine has no online presence. It is available in a few stores around Oxford. Enjoy the article. I’m here to help if you want to search for your Oxford retirement house.

Eileen Saunders, SRES REALTOR, Tommy Morgan BOF-Oxford, 2092 Old Taylor Road #101, Oxford, MS 38655 662-404-0816 (m) or 662-234-5344 (o) Equal Housing

 

For Sale: 4585 CR 216, Oakland MS

4585 CR 216, Oakland, MS is FOR SALE

WELCOME TO YOUR NEW HOME

LIVING

Back when Lincoln was President a log cabin stood on this property.  There were two large rooms separated by a dog trot. One side for living, the other side for sleeping. A wooden staircase rose from the bedroom to an upstairs attic.

The log house still stands in its original location, but you wouldn’t know it unless you looked inside this gorgeous, southern-style, executive house.

IMG_2791-HDRThe current house was built around the original log home, anchoring it with the spacious, original bedroom and updated with a home office separated by the dog trot, now serving as a parlor.  On either end of the parlor sit large, covered porches to relax on and watch the native wildlife: deer.

The original staircase still winds upstairs but now, with the roof raised, two more bedrooms, and living areas take the place of the smaller attic.  There is a larger, grander staircase to get you back downstairs and into the main foyer. To the back of the house is an expansive living room accented with floor to ceiling windows and doors to let in natural light and provide beautiful views of the property. A fireplace and built in cabinetry make the room complete.

IMG_2773-HDRThe house features a large formal dining room, a gourmet kitchen and casual dining area with island-counter seating, and peninsula-counter seating. Must-see counters include pale green granite and custom glass-tile to match. Large floor-to-ceiling windows bring in sunlight and natural views. The kitchen is highlighted by a Butler’s Pantry and loads of custom cabinetry for storage.

IMG_2743-HDRThe Master Suite takes over one end of the newer house making this a 4-bedroom house. With a private covered balcony shaded by trees, there is also access to a sunroom which separates the master bedroom from the casual dining space. Along the back of the house is a multi-tiered deck for entertaining or just relaxing.

DSCN9694 (2)There are several additional buildings and features on the property, including an in-ground smoker, storm shelter, greenhouse and cellar only accessible from the exterior of the house.

HUNTING

Did I mention hunting?

This 7050 square foot house is surrounded by prime hunting opportunities. In fact, there is a current hunting lease on the property which can be transferred to the new owner or not.  An abundance of deer and wild turkey roam the property.

Not only can 4585 CR 216 be someone’s home, but it could also be a hunting lodge, or an event venue with B&B potential; concerts, weddings, corporate getaways, sportsman retreats are just a few ideas.  There is ample room under the roof to add rooms upstairs as the house was designed and built with that potential in mind.

TIMBER AND FARMING

The property has a significant timber value and the two main parcels are separated by USA land and not connected so it can be used for multiple purposes including timber harvesting and developing.

Most of the acreage surrounds the house, including cleared farmland. The additional property is accessible from a nearby highway. The cleared farmland has income producing potential.

The house is minutes from Enid Lake boat ramp, and about 30 minutes to Oxford, MS and Ole Miss. Oakland is along I-55 so there is easy access to the Memphis airport. And, nearby to the west is the Blues Trail, Grammy Museum and other historic music venues in the Delta that tourists flock to every year from all over the world.

There is a lot more to tell you about, but you really need to come visit. Call your agent or me, for an appointment. Serious buyers only, please.

For more information view this aerial video and the virtual tour that follows. I look forward to hearing from you. Video:  http://bit.ly/2mmw1XR  Virtual Tour: http://bit.ly/30jDuGl

Eileen Saunders, SRES REALTOR, Tommy Morgan BOF-Oxford, 2092 Old Taylor Road #101, Oxford, MS 38655 662-404-0816 (m) or 662-234-5344 (o) Equal Housing