Investor Oppurtunities in Biloxi and Ocean Springs Mississipppi (MS)

The Mississippi Gulf Coast is quickly becoming a vacation getaway area. Investors and developers are begginning to build and develope the local areas into more of resort style community. Instead of new houses or apartments they are begginning to build condo's. Many housing areas that were apartments or hotels before are now condo's; and new developers are building condo's instead of apartments. This is becoming a resort area fast investors, even "The Donald" is planning a hotel and resort area for developement in the near future. I personally know of one deal being negotiated in which two hotels are being purchased for $10 million and converted into condo's. And this is from an investment company out of California. There's another projected that breaks ground next month called Bienville Quarters. For more info on that project check my previous blog on it. http://sergeantrealestate.blogspot.com/2007/01/bienville-quarters-biloxi-ms.html

I'm sure investors are wondering why I bring this up. The reason is this, as an investor you need someone who can not only help you locate property but also someone who can recognize the deals. Someone who knows and understands your goals and objectives. I also happen to be a Real Estate Investor in the local area and while not on as grand of a scale as the previously mentioned investments, I do understand the goals and objectives. Please feel free to contact me, I would love to help you.

Great home selling tips

Hello all. I was reading a post on my brothers website and thought it would be great to share with anyone and everyone. These are great tips for selling your home. Check it out!!

http://realopinionated.blogspot.com/2007/02/home-selling-how-to-hone-your-ninja.html

Why Sergeant Real Estate?

I was having a conversation today with my girlfriend. During this conversation we were discussing what makes Sergeant Real Estate different from any of the other 1300 Realtors throughout the Gulf Coast. She asked me the question; "why did you want to become a Realtor?" And without hesitation my response was, "I like helping people." That's when it really hit me, that's what makes Sergeant Real Estate (me) different from everyone else. Whether you are selling your home "for sale by owner" or through another Realtor, I'll still help you if you have questions. In the Military I am an instructor. I spend almost everyday teaching people how to do their new job. Many of them are intimidated by the job, have no confidence in their abilities, and have no idea what to do to succeed. And when I'm done with them the have so much confidence in themselves and feel like they have overcome everything to succeed. It gives me a true sense of pride to know I was able to help them. Thats the true reward. It's the same feeling I get when helping someone sell their home or purchase a new one. For me, it's really all about the people. Don't get me wrong, getting a paycheck is always nice and I'm not going to lie and say I'd do this job for free. I wouldn't. It is A LOT of work. Just like I wouldn't be in the military for free, yet I still enjoy my job. But honestly, the biggest reward is the piece of mind I bring to my clients. I come across many Realtors on a daily basis and so many of them say things the ultimately boil down to wanting a paycheck. I think so many of them forget that their paychecks are connected to people's lives and it's the people they should most worry about.

I just wanted to take some time to share with you Sergeant Real Estate's philosophy on being a Realtor in Ocean Springs / Biloxi MS.

Blog Done. Carry On!!

Types of Realtor and Client relationships

What is a buyers agent? A buyers agent is just that, they are representing the buyer. Their whole purpose is to help their client find the right house for them. You better believe they are looking out for their clients best interest, not yours. So if you are a FSBO (for sale by owner) seller and an agent approaches you and asks to show someone your property (in return they will probably ask you to pay them 3% for bringing you a buyer) they are working as a buyers agent. Buyers agents are a great tool for the home buyer to use though. The best part for the buyer is its FREE!!! The sellers have to pay your buyers agent, is that a great deal or what?? Most people love to use Realtors as buyers agents when they buy a home, but why are they so reluctant when they sell?

What is a sellers agent? A sellers agent is the Realtor that represents you when you are selling your home. Remember how good of a job your Realtor did for you as a buyers agent? So why do most people shy away from Realtors when it comes to selling. The honest answer, people think they can save money if they do. Did you read my blog on "Are Realtors worth the money?" I recommend it. They are responsible for marketing your property. Which sounds like an easy thing. But if you think that all that takes is putting an ad in the paper and have an open house, think again. Or better yet, read my blog on "Biloxi FSBO (for sale by owner) mistakes."
Just like with a buyers agent, the sellers agents purpose is to look out for their clients best interests. I have a philosophy, if you look at clients as a paycheck you will always be chasing a paycheck; but, if you take care of people the money will eventually come. That's how I treat my clients. I'm looking out for you. Sorry got off on a tangent. That pretty much sums up a sellers agent.

But what is disclosed dual agent? This usually works like this and this is how I explain it. Lets say after I have listed your property mister seller, a gentlemen calls me because he saw my sign in your yard, or ad in the paper, or TV ad or whatever. He says to me "I love that house, I don't care how much it is, I want to buy it right now. Where do I sign?" Wouldn't you want me to get him a contract and sell your house to him? Naturally you say yes. Well Mr Seller, when that happens I would then become a disclosed dual agent because now I represent both of you. The good news is I'm still going to be looking out for your best interests, but I will also now do the same for him. But I can't tell him anything that would be detrimental to your position nor can I tell you anything that would hinder his negotiating position. Also, if another agent in my office sells your home as a buyers agent for another client, we would become a dual agency. The reason being is because we are still under the same brokerage. I hope that all makes sense.


As a final note, regardless of the relationship you and your agent have they owe you certain rights. We call these fiduciary responsibilities. They are as follows;

Loyalty- means your agent is looking out for your best interests

Obedience- means your agent has to obey your lawful instructions.
Disclosure- means your agent will tell you everything they know about the property, the situation or whatever it may be that will help you.


Confidentiality- means that anything you tell your agent is told in confidence and will not be shared with the public. ie, your going through divorce, your spouse died, you have to move by next month, or you are willing to pay 3 times what the house is listed for, etc. The agent protects their clients interest.

Reasonable care and diligence-means your agent will use their skill and education to take care of you throughout your transaction and be there as a guide throughout the process.

Accounting- means your agent will carefully and diligently handle all moneys or entrusted documents you place into their care.

I hope this has shed some light on the types of relationship you and your agent may experience.
Remember the perfect agent for you is the one that takes care of your needs and you feel comfortable with.

Blog Done, Carry On!!

First Time Home Buyers; "How much home can I afford?"

Many first time home buyers don't understand all of the expenses associated with purchasing a home. Most people think "I'll just have to make a loan payment, that's all." Not true. You also have to pay taxes and insurance yearly, these are typically escrowed into your payments. I know as a first time home buyer I didn't understand any of this. The average home owners' monthly payments includes principle, interest, taxes, and insurance (PITI).

A good rule of thumb is this; the total of your PITI should be no more than 28% of your gross (before taxes) income. Many times on bank websites they will have calculators to help you "estimate" what your monthly payments will be. These estimates only include your principle and interests, not your taxes and insurance. And believe me, those two things can make your $800 dollar "estimated" payments become $1100 dollar, or more, actual payments. This doesn't include possible private mortgage insurance (PMI) that lenders require if your loan to value ratio is too high. Many first time home buyers have never heard of this.

Bottom line here is this first time home buyers; buying a home isn't rocket science but it does require some research and understanding of all the details associated with the transaction. My recommendation is to ask a Realtor for help. We don't just find you homes to look at, we educate you on the market, the procedures, the terms, and numerous other things in order to look out for your best interests. The real estate world is full of sharks who love to swallow up any new comers. As a first-time-home-buyer you should demand your Realtor educate you about the buying process and owning a home.

In summary, there are many things a first time home buyer needs to know when purchasing. You could waste countless days researching trying to figure out what it is you don't know or you could spend a few hours with a good Realtor and learn from a friend. I hope this helps you out.

If you would like more first time home buyer tips go to my website www.sergeantrealestate.com and click on "Contact Me," leave your contact info and I'll be in contact with you within 24 hours.
Blog done, Carry on!!

Biloxi FSBO (for sale by owner) mistakes

What do most FSBO sellers do wrong that results in over 75% of them eventually listing their property with a Realtor? Good question. Let's see if I can shed some light on the subject.

1) Incorrect Pricing. Overpriced listings will simply not sell. Here in Biloxi we are moving towards more of a buyers market. In the past year selling a home was as easy as listing the home and waiting for buyers to beat down your door. This is no longer the case. People are smart when it comes to buying, they use Realtors who know the market. Did you? So why are you so scared to use one to sell? So now if the buyers Realtor sees you have your house overpriced they will steer their clients away from your property. Realtors work for THEIR clients best interests. That's on the off chance the Realtor drove past your house and saw your "For Sale By Owner" sign. Did you also know the most productive period during your listing is the first few weeks. Your home is new on the market and everyone is dieing to see it. Price it incorrectly and you won't even get a phone call, much less a visit.

2) Thinking Refinancing Appraisals are Market Value. The appraisal you got when your banker refinanced your house is tilted in their favor. Consider the motives that a mortgage banker might have for getting an appraisal slightly higher than market value, and you can begin to see why. Here's an example: My brother, who is also a Realtor in Tampa, refinanced his townhouse in Riverview and got a refinancing appraisal for $190K. Due to his expertise in, and knowledge of, the area he knows for a fact that no property has ever sold higher than 180 in his community. Think about it. You finance more money, they charge you more money right? Who is really winning? Not you, the bank. Only a professional, standing in your living room, looking at your home, can effectively tell you what the value of your property might be.

3) Limited Marketing. I know what you're thinking. Place a classified ad and hold an open house. Sorry, but that's not going to cut it. Statistics tell us that only 1% of homes are sold from open houses. And, only 3% are sold from classified ads. So, if you've done both, you've only given yourself a 4% chance of selling your home. You have to be creative and learn to market property if you want to sell FSBO. What's the trade secret? Market to Realtors, not buyers. Realtors will get the home sold.

Want to learn more? Please contact me at my email or by phone. Thanks for reading.

Sergeant Real Estate

Are Realtors worth the money?

I know many of you ask yourself this question all of the time. Along with many others such as; Why should I pay you, your job isn't that hard?; Why should I pay you 6 or 7 % when other companys will do the same thing for a flat rate?; I need all my profits to buy a new house; along with dozens more. The truth of the matter is we live in the information age now and anyone can find out about just about anything using the internet. Well lets look at this scenario. Can you research brain surgery on the internet? Yes!! Do you feel that makes you qualified to perform one? Of course not. The same goes for selling a house, just because you've read about what has to be done does not mean you can wake up tomorrow and do it; not even if you stayed in a Holiday Inn Express last night. Secondly, signs and advertisements don't sell homes, Realtors do!! Of course you have to advertise the home to bring in "potential buyers" but once they are there it's up to you to sell the home to them, and more importantly not drive them away. Do you know how to anticipate what a potential buyers questions may be? Realtors do, it's what we are trained for.

Statistics say that people who sell "For Sale By Owner" really have no idea what the value of their home is and often times sell for 15% less than their home is worth. There are people out there that make a living off this stat, they are called Real Estate Investors. So even when you pay your realtor fees you still make more money. It's simple math folks, 15- 7 = 8% in your pocket.

Will you job let you off anytime of day to show your house? Mine will, in fact doing just that is my job when you hire me, or any other Realtor for that matter.

Flat rate fee organizations (whose name I can not mention but which is very popular) charge a flat fee and do minimum advertising and marketing to make sure you home is sold. Not to mention when they do list your home they do not put it into the MLS ( multiple listing service, one of the most powerful advertising tools) for 3 months. How many buyer's did you miss out on during that three months? How much money did you spend in mortgage payments, insurance, and taxes? ALOT! Your home is kept from the most powerful selling tool, Realtors!! Plus when they do list the home in the MLS they then ask you to pay 3% to the selling broker/Realtor. So now you've paid a Flat Fee, plus 3%, and your home was tied up for 3 months with minimal exposure.

So are Realtors worth it? Every penny!!

If you want to know more please email me. I would love to help you out with any questions.