Mississippi

Seller speakes about upcoming auction to be held in Hinds County on March, 24,2012

03-12-12

Amanda Leverett

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Office: (229) 794-0096

Mobile: (229) 460-2331

Interview with the seller of a prime horse facility to be auctioned on March 24, 2012 In Mississippi

Can you please tell me the history of the facility?

This facility was established in the early 1960’s. It has been used for professional rodeos, Horse Shows, Camps. The operation brought home the Commissioners Award three years in a row at the Dixie National Rodeo. The structures were renovated in 2002.

What types of profit can be expected from the current clientele?

The boarding business has been very strong with a 95% occupancy rate. The majority of income can be produced with camps, lessons, and field trips. Currently self service boarding is $100 per horse, owner provides hay/feed and is responsible for cleaning after their animal and feeding. In the area of full care depending of owner preference the normal rate is $450-$800 per month. Calls are received daily for camps, birthday parties, lessons and field trips. However with the decision to relocate this is not being offered at this time. The front barn is 45 stalls and is full.

What do you consider to be the best feature of the property?

The business is on auto pilot. The center of the barn has been a restaurant, feed and tack store, most recently used as a party room. It is the only facility under a special use district in the state. This is the designation for coliseums, horse shows, riding academies, and parks. It is nearly impossible to acquire this in the county and impossible in a residential setting. There is a 250x150 lighted area for shows and clients to ride, a 60 ft lighted round pen, and also trails at the back of the property.

Approximately how many boarders did you have when the business was at its peak performance?

There has never been any difficulty filling the facility with renters. At one point it was necessary to turn down business as the facility was at capacity. The focus has always been families and children. With animals for kids to pet (goats, ducks, chickens, pigs, cows) and hay rides around the 45 acre facility. Birthday parties ranged from $150-$200 per two hours, camps $200 per three days, and lessons $30-35 per hour. Field trips were offered at 8-10 per child depending on the duration of the trip. Many of the prices could easily be increased. The income possibilities are endless.

What makes this property unique in comparison to area facilities?

The facility is centrally located and the business is just waiting! With high visibility and new horse people the opportunity for training and possibility to get top dollar for the sale of horses is excellent. The current owner described the property as a horse lover’s paradise, however they have made the decision it is time to move on and accomplish new goals. Check out the United Country INational auction schedule. Now is the time to invest in land and what better way to increase revenue than buy a turnkey business along with the land investment. Check out this property at www.certifiedlandauction.com.

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Short Sale Vs. Foreclosure - Hattiesburg MS

03-09-12

LORI COMFORT, BROKER, CDPE

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Office: (601) 543-7653

Mobile: (601) 543-7653

Short Sale vs. Foreclosure

MAKING THE RIGHT CHOICE FOR A STABLE FUTURE

There seems to be no end to the debate of whether a short sale or foreclosure is a better decision for homeowners who can no longer afford their mortgage payments. For many, the anxiety of dealing with this challenge is so overwhelming that they give up and let their home fall into foreclosure. This is unfortunate. Weighing the benefits of a short sale when compared to foreclosure may have led to a decision that would have secured a brighter future.

I want distressed homeowners to be able to make an educated decision about how to proceed when faced with this challenging situation. That's why I've developed a special report that outlines the differences between a short sale and a foreclosure. It is available for free at the following site:

www.shortsaleexpertofms.com

GUIDING DISTRESSED HOMEOWNERS THROUGH THIS CHALLENGE

If you know someone who owes more on their home than what it is worth and can no longer afford the mortgage payments, please let them know I can help. Having the right person navigate a distressed homeowner through foreclosure avoidance is key to providing for a financially and emotionally stable future.

Please think of me when you find those who need help in finding solutions to foreclosure. Your referrals would be my highest priority! Referalls are the way I do business.

With gratitude,

LORI COMFORT, Broker

Certified Distressed Property Expert

Buyers & Sellers Realty

loricomfort10@gmail.com

(601) 543-7653

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***Top 100 Mortgage Companies in America 2011

03-07-12

Doug Capps, CLO, CRMS

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Office: (662) 429-5100 x105

Mobile: (901) 412-9590

Congratulations to Fairway Independent Mortgage Corp for ranking #11 in the TOP 100 Mortgage Companies in America in 2011 by Mortgage Executive Magazine.

Here is the link to the list - TOP 100 Mortgage Companies

For more information please contact DOUG CAPPS at (662) 429-5100 ext. 105. NMLS ID #68160.

Fairway Independent Mortgage Corporation, 224 West Commerce St, Hernando, MS 38632 is a "MS and TN Licensed Mortgage Company." NMLS ID #2289. An Equal Housing Lender. All loans are subject to credit approval and compliance with investor guidelines. Fairway Independent Mortgage Corp is not affiliated with USDA Rural Development.

Know your mortgage options!

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Castlewoods, Brandon MS Real Estate Report for February 2012

03-07-12

Pat Starnes

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Office: (601) 278-4513

Mobile: (601) 278-4513

In February 2012 there were 7 homes that closed within the month for Brandon's Castlewoods Subdivision. This is an increase over February 2011, as there were 4 homes that closed this time last year.

The average sales price for homes that closed in Castlewoods in February 2012 was $183,271.

The average sales price for homes that closed in Castlewoods in February 2011 was $170,313.

The average market time (continuous days on market) for homes that closed in Castlewoods in February 2012 was 171 days.

The average market time (continuous days on market) for homes that closed in Castlewoods in February 2011 was 78 days.

There are five addtional homes in Brandon's Castlewoods Subdivision that are pending or under a contingency. These properties range in price from $140,000 to $218,000 and the average time on the market for these Castlewoods homes is 178 days.

There are currently 50 homes for sale in Brandon, MS's Castlewoods, a golf community in Northwest Rankin County, near the 33000 acre Ross Barnett Reservoir. Prices range from $140,000 to $469,000, with an average list price of $231,531. View Homes for Sale in Castlewoods Subdivision.

View New Construction in Willow Grande II

Information on Castlewoods Country Club

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***More FHA Changes Effective 04/01/2012

03-06-12

Doug Capps, CLO, CRMS

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Office: (662) 429-5100 x105

Mobile: (901) 412-9590

Per FHA Mortgagee Letter 2012-03, FHA will be adopting a few more changes effective 04/01/2012. One of the changes is regarding collection accounts. This could impact many borrower’s ability to qualify or possibly delay a borrower in qualifying for the FHA loan.

Excerpt below:

OLD Guidance NEW Guidance

HUD 4155.1 4.C.2.e

FHA does not require that collection accounts be paid off as a condition of mortgage approval. However, court-ordered judgments must be paid off before the mortgage loan is eligible for FHA insurance endorsement.

If the total outstanding balance of all collection accounts is equal to or greater than $1,000 the borrower must resolve the accounts (e.g. entered into payment arrangements with minimum three months verified payments- paid as agreed) or paid in full at the time of, or prior to closing. Mortgagees must document the case binder showing each account was resolved or paid in full.

If the total outstanding balance of all collection accounts is less than $1,000, the borrower is not required to pay off the collection accounts as a condition of mortgage approval.

FHA continues to require judgments to be paid off before the mortgage loan is eligible for FHA insurance.*

* Exception: An exception to the payoff of a court-ordered judgment may be made if the borrower has an agreement with the creditor to make regular and timely payments, and provides documentation indicating that a minimum of three months payments have been made according to the agreement. The monthly payment must be included in the borrower’s debt-to-income ratio.

Examples of acceptable documentation to support the resolution of disputed accounts or the payoff of accounts would be a letter from the creditor outlining the terms of the payment arrangements, or verifying payoff of debt, cancelled check(s), or a supplement to the credit report verifying payoff or payment arrangements.

Note: Paying “down” of balances on disputed accounts and collections to reduce the singular or cumulative balance to below $1,000, is not an acceptable resolution of accounts.

For more information please contact DOUG CAPPS at (662) 429-5100 ext. 105. NMLS ID #68160.

Know your mortgage options!

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