Visit Brandon MS

Home buyers and sellers are hearing a lot of unfavorable information about our real estate market today through our media.

Though some states are suffering greatly, that’s not the case in the Jackson Metro area. According to a December 2007 article in the Clarion Ledger, titled No Slump in Rankin housing market clearly shows that builders and developers have continued to keep a steady pace. Our media reports that our economy is in a recession and foreclosures are on the rise, to a minimum degree that applies to us, but not to the severity that’s been communicated by our media. The truth of the matter is this, housing inventory levels are at an all time high and interest rates are at historic lows. We are in a buyer’s market. Having more inventory than buyers puts us in this kind of market. In this position, buyers tend to sit on the fence, waiting for the best house of rock bottom prices. This causes sellers to lower their prices in which creates immediate equity. This is tangible monies for the buyer. Buyers with good credit and a reasonable understanding of what they can afford should have no problem obtaining mortgages with equity that could later be used for their financial gain.

In closing, my suggestion to anyone who is contemplating buying their first home or thinking of up grading to a bigger or better one should take advantage of our current markets NOW. The markets are changing just as interest rates are. Very soon we will not have the low interest rates and it will be a seller’s market.