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Recently, a study was released from the Brookings Institution called the "Metro Monitor" reported on the recession and recovery, prepared by the Washington-based think tank. They looked at six major measures of economic viability which include wages, gross metro product and housing prices and unemployment. The study was the fourth quarter of 2008 and the first quarter of 2009.
The report stated that no one area has been immune to the downturn but there are areas that have not suffered as much. All 100 metro areas showed a decline in economic output, with Florida, Michigan and Ohio showing the sharpest decline.
By comparison, Jackson, Miss saw a 2.9 percent falloff. and unemployment went up on 2.5 percent in the same time period.
The Brookings study, using the Federal Housing Finance Agency's Home Price Index found that in Jackson housing prices rose .06 percent from the first quarter of 2008 to the first quarter of this year.
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There is no doubt about it. Green is hot! It's everywhere! But, with respect to housing, what's the difference in "Green Verified" and "Green Certified"?
If you talk to 10 different people you'll most likely get 10 different answers to the "What does green mean?" question.
Everything from "Yes, we've gone green at my office, we've started buying recycled copy paper!" to "Green?, sure I bought one of GM's new SUVs, they're environmentally friendly. Don't you see how the commercials place their vehicles in a forest setting?" Actually, (according to www.greenwashing.com) General Motors is a member of the Coalition of Vehicle Choice, an organization that opposes clean air legislation and laws directed at reducing auto emissions.
So, when you purchase a home and the builder makes a green declaration how can you tell if he's done the right thing or just blowing smoke to ride a wave of hype!?!
There are two basic types of Green Certification programs in America today. The builder or owner verified program and the unbiased 3rd party verification.
The NAHB Green Building Standard, LEED-H, Energy Star, Earth Craft and Green Built are some of the more promenant certifying bodies in the US. Certifications for green construction are awarded upon successfully adhereing to the particular specifications of their respective programs. Typically, points are awarded for specific energy or resource efficient principles that are followed. Other areas of note are water efficiency, indoor air quality and home owner education.
The verification process is typically an indepth technical visual inspection process that confirms program adherence and includes performance testing. This test is provided by highly trained "energy raters" who deterime, amoung other readings, how air tight the building is and how well the heating and air conditioning system operates.
For more info about green building contact me toll free 1-877-809-6139 or online at http://www.greenbuildinginspector.com.
Find Green Verified Homes in America and Canada at http://www.greenverifiedhomes.com
Home Inspections in Central Mississippi at http://www.garynsmith.net
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If you are a first time home buyer, or haven't owned a home in three years, now is an EXCELLENT time to buy a home. My first post on the subject, Credit for First Time Homebuyers in MS depicts the differences between the old and the new stimulus packages.
If you purchased a home on or after April 9, 2008 but before January 1, 2009, you are entitled to a maximum tax credit of $7500. After January 1, the credit was increased to either 10% of the price or a maximum of $8,000, whichever is less.
What could you do with an extra $8,000?
Before January 1, 2009, the tax "credit" was actually an interest-free loan, to be repaid over 15 years through your annual tax return, beginning in 2010. Should you sell your home before the 15 years elapse, then the remaining credit would be repaid (in full) when the sale closes.
For homes purchased between January 1 and December 1, 2009, you must live in the home for three years without having to repay any portion of the credit. If you have not owned a home for three years, although you are not a "first-time buyer", you are still eligible for the tax credit.
The attached tax form, Form 5405, will explain how to file for the credit, whether you purchased a home in 2008 or 2009.
Rates are lower than ever. If you haven't purchased a home since January 1, 2006, with the additional tax credit available through December 1, can you think of a BETTER TIME TO BUY?
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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
McIntosh and Assoc., LLC434 Katherine DriveFlowood, MS 39232601-278-4513 - cell601-936-2007 - office
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The last month I've been a busy bee with the housing market, but what can I attribute this to? Interest Rates, or Stimulus Package? Maybe and Maybe!
I've got a good idea though my sellers are helping me price their listings at fair market value and that my friend is what is moving this market!
And, as we know, price is king when buyers are looking for homes.
Remember, your results may vary depending on the home condition and the part of the country you are located in. But, the next time you’re ready to list a home, explore the option of pricing strategies. A listing price can be your most powerful marketing tool...
Closing March 20th!

Closing February 27th!

Short Sale Closing Pending!
If your looking to sell your home in the Metro Jackson Area be sure to call me before you do for your home selling consultation.
Contact Jeffrey Dillon
Herrington Realty Company
601.502.4693
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