There are lots of great articles that I have written on buying real estate in Ocean Springs and Biloxi Mississippi (MS). If you will scroll down the right side of this website you will come to my archive, I recommend you look through some of those articles. But as always, I've gotta give you more so hear goes.
1. THE MARKET: Today's market is different than the market was a year ago. After Katrina we real experience a Seller's Market here in Biloxi and Ocean Springs; actually the whole Gulf Coast. Seller's market really means the seller has the advantage because there are not many homes available but there are lots of people trying to buy them. During this time a seller could charge almost anything they wanted to charge for their house and many of them did. Unfortunately that left many people living in homes that aren't worth as much as they owe now; but that's a different subject all together. Today we find ourselves in much more of a Buyer's market, meaning that we now have way more homes than people buying them. Before homes would sell in a matter of days literally, now it's still a matter of days, about 140 of them to be precise. The average days on the market has dramatically increased. So as a buyer this is a good thing for you. You can negotiate a much better price and even some incentives like closing costs and home warranties to be provided by the seller. If you want to know more contact me, I love to help people.
2. Inspections and Disclosures: Sellers are required to provide you the buyer with a Seller's Disclosure." This tells you anything and everything that has happened to the house, that way you can make an informed decision on whether or not to purchase the home. This is a great tool but it CAN NOT take the place of a home inspection. A seller may provide you a disclosure and say everything in his house is fine but the electrical could be messed up, the roof could be about to bust, or whatever. Doesn't mean the seller intentionally mislead you, they may have just not known. Inspections are very important, I made this mistake on my first house and I'm still fixing things that could have been spotted by an inspector. But hey, I was uneducated and was taken advantage of by an investor. BE CAREFUL!! Get a Realtor if you don't know, for your sake guys.
3. Price: As a colleague always says; PRICE IS KING!! Don't over pay for a home. If you do, you will find yourself in a pickle when it comes time to move. This is especially true if you are military and will be moving in 3 years or so. Make sure you get the house at a fair price. Even Realtors can't predict the market, so we can't promise your house will appreciate or depreciate but we can help you get a fair price based on today's market.
I know this whole article has sounded like I'm trying to sell you on using Realtors, I'm not. I just want you to make good decisions, buy your house right, and live happily in your new home. If you don't know what you are doing, contact a professional. I'm an agent and I still ask questions everyday. There is A LOT to this real estate world and you can get burned really fast and really hard if you aren't careful. Hope this helps.
Blog Done. Carry On!!