About Rankin County, MS

This is the third weekly installment of my series, Foreclosure Friday. Each issue contains foreclosure tidbits and gives access to foreclosures throughout Mississippi via HUD, VA, Fannie Mae and Freddie Mac.

As I mentioned in my previous posts, when buying a HUD foreclosure, only owner-occupants can bid during the first 10-day bid period. The longer a HUD home remains on the market, the more likely for either a price reduction or for HUD to accept a lesser sales price.

Several of the properties are now listed for ALL BIDDERS, and will be sold to the bidder who submits an acceptable offer that nets HUD the highest dollar figure.

One property, for instance, at 3352 Patterson in Pearl MS, was reduced $7,000, but the bid priority has changed from ALL BIDDERS to Owner-Occupant. If by chance you are an investor wanting to place a bid on this property (or one in a similar scenario), you'll now be restricted until the 10 days have passed.

Some of the properties for sale are shown below. (Screenshot taken 12:01 Friday a.m.)

Remember that foreclosures are sold "as-is" with no repairs and you must be pre-approved before submitted a bid.

Buying a foreclosure can offer a considerable savings, but you must be willing to accept the house with whatever flaws it may have.

See all current HUD listings by visiting this site.

See all current VA listings by visiting this site.

Search Fannie Mae Foreclosures here.

Search Freddie Mac Foreclosures here.

If you have questions about any home you find for sale through these sites, or want to know what might be available through the Jackson MLS, let me know how I can assist you.

View the first article here.

Read the second week's article here.

Singing off until next time, unless you call me!

The onset of Daylight Savings Time gave our family an extra hour to spend outdoors Sunday, and we spent the time at Lakeshore Park in Brandon, off Spillway Road.

It was a great March afternoon, perfect for flying a kite, grilling burgers and hot dogs, playing on the swings, or tossing a frisbee.

It wasn't crowded, but over 300 people enjoyed the spring-like weather at the park Sunday afternoon.

Besides Lakeshore Park, there are several parks and trails located along the Ross Barnett Reservoir for hiking, boating, tennis, and soccer. Throughout Ridgeland, Madison, Flowood and Brandon, there are over 20 parks for fun family activities, like Old Trace Park, Freedom Ridge, and Wolcott Park in Ridgeland.

Visit The Rez for more information about waterfront parks throughout the Jackson Metro area. Or see Local Area Resources to learn about parks throughout each neighborhood in the Metro Jackson area.

This post marks the inaugural issue of a series featuring Mississippi Foreclosures. Since HUD announces their new listings, price revisions, etc., on Fridays, my weekly post will aptly be named Foreclosure Friday.

First, a brief introduction into buying a foreclosed property:

Anyone can buy a foreclosure, if you have the cash OR can obtain a loan (mortgage). In the past, prospects have called to ask whether foreclosed homes are available to rent (the answer is NO) or if financing is available to people with credit issues, bankruptcies, etc.

Although anyone CAN buy a foreclosure, you still must QUALIFY for the mortgage. It is strongly advised if you are looking at a foreclosed property that you are pre-approved through a reputable lender. By being pre-approved, when you find a home you want to purchase (bid on), there will be no delays; your contract will be reviewed (by the lender or governmental agency) and possibly receive more favorable consideration because of your pre-approval.

In fact, a pre-approval letter is often a prerequisite of submitting an offer, so make this your first priority.

Your second step is to find a qualified real estate agent that can assist you in locating suitable properties and constructing your offer to purchase. As a Realtor experienced in selling MS foreclosures, I would be happy to assist you if you are looking in my market area, which includes Hinds, Rankin, and Madison counties in MS. If you are interested in an area where it is not geographically feasible for me to show you homes, I can refer you to a foreclosure specialist in that particular region.

The third point to consider: Foreclosures are sold "as is - where is".The bank or government entity will be unwilling to make repairs to the property. Have you heard the phrase, "what you see is what you get"? Another popular phrase is "Buyer Beware". An inspection clause may be inserted into the contract that allows you to have a home inspection on the property, but you would still be purchasing the home "as is". If you want to buy a foreclosure, be prepared after closing to make any needed repairs.

Now, for the current list of foreclosed properties in Mississippi.

HUD Foreclosures in Mississippi

VA Foreclosures in Mississippi

Fannie Mae Foreclosures in MS

Freddie Mac Foreclosures in Mississippi

My job as your Real Estate agent is to guide you through the homebuying process and to answer your questions with patience and understanding.

Buying or selling a home is a big deal; I appreciate that. But it does not need to be stressful. I will strive to make it as painless as possible. It would be my pleasure to meet with you and explain the process in further detail.

To continue receiving this weekly update, consider subscribing to my blog.

Image compliments of FreeFoto.com

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Pat Starnes, a Realtor since 1988, specializes in Mississippi Residential Real Estate and can assist you with buying or selling in the Jackson MS Metro area.

Search all homes for sale in Brandon, Pearl, Flowood, Madison, Ridgeland, Florence, Bryam, or Jackson, MS.

Written and Published by Pat Starnes REALTOR

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A few weeks ago, I wrote about the new shopping center situated at the intersection of Lakeland Drive and Old Fannin Road in Flowood. You can see my original post here. But the good news is J. C. Penney's and Bed, Bath, and Beyond opened their doors on March 1, and business has been brisk.

Pat Starnes, a Realtor since 1988, specializes in Mississippi Residential Real Estate and can assist you with buying or selling in the Jackson MS Metro area.

Search homes for sale in Brandon, Pearl, Flowood, Madison, Ridgeland, Florence, Bryam, or Jackson, MS.

Written and Published by Pat Starnes REALTOR

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Mardi Gras season is underway! The 3rd Annual Mardi Gras Parade was held Saturday at Patrick Farms Subdivision in Pearl, MS.

Grand Marshall for the parade was Scott Simmons, local TV news anchor for WAPT-TV in Jackson, MS.

You may notice the "floats" are unique. The Patrick Farms parade was conceived by friends and residents Melissa Randall and Jacki Barton three years ago as they longed to attend a Mardi Gras parade. The course of their conversation led them to start their own tradition in their neighborhood.

The weather co-operated and 10 "floats", i.e., golf carts, participated in the annual event.

Seen here is Krewe Captain and neighborhood resident Guy Palmertree offering this writer a bounty of beads.

Lawn chairs sat on front lawns and residents visited with each other as the parade travelled down the parade route. Kids, adults, friends and neighbors waved and shouted "Throw me something, Mister!"

The Patrick Farms Parade is an event residents look forward to each year. But, who do you think had the most fun...the parade goers or the participants in the carts?

Happy Mardi Gras!

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Pat Starnes, a Realtor since 1988, specializes in Mississippi Residential Real Estate and can assist you with buying or selling in the Jackson MS Metro area.

Search homes for sale in Brandon, Pearl, Flowood, Madison, Ridgeland, Florence, Bryam, or Jackson, MS.

Written and Published by Pat Starnes REALTOR

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