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
Alot of people that I have talked to in the past couple of weeks have been confused between the differences of FHA and Conventional loans. So, I hope this simple explanation helps with all of your questions dealing with mortgage loans.
FHA requires less money down - 3.5%. Conventional (Fannie Mae and Freddie Mac) loans require at least 5% down.
FHA’s monthly mortgage insurance is much cheaper than conventional loans, usually about half and much more in many cases.
FHA’s interest rate is not tied to credit score. If you have a 620 or better you are eligible for the best FHA rate. For conventional loans you need at least a 720 score for the best rate and scores less than 720 have higher rates. Or you pay more points to get best rate.
FHA loans can only be used to buy your primary residence, not second homes or rental houses. Conventional loans can be used for principal residences, second homes and investment property.
FHA loan limits are approximately $271,000 and conventional loan limits are $417,000.
FHA loans are assumable. Conventional loans are not.
FHA loans have an upfront funding fee (1.75%), which is financed into the loan amount, not paid at closing. Conventional loans do not have a funding fee.
FHA loan qualifications are governed and set by the federal agency, Federal Housing Administration, a division of the Housing and Urban Development (HUD). Underwriting guidelines and parameters for conventional loans are set forth by Fannie Mae and Freddie Mac, government sponsored entities (GSE's).
I usually recommend FHA when a buyer puts down less than 5%. I usually recommend a conventional loan when someone puts down more than 10%. Each case is different. Credit scores and down payment money play a bigger part on the type of loan chosen in today’s mortgage market.
This article was written by Richard Martin with Residential Mortgage for the sole purpose for www.jeffreydillonsells.com. You can contact Richard with any mortgage questions at...
One would think after reading the newspapers and watching the news media, that very few can get mortgage loans these days, like only the Warren Buffett types. Not true. But admittedly it is tougher to qualify compared to a year ago. 
Lenders have increased their requirements as a result of the housing market slump and sub-prime mortgage bust. Loans without down payments are no longer available. Only Veterans Administration and Rural Housing offer such. Also, many down payment programs (e.g. Ameridream) have ceased to operate due to regulatory rulings and tightened policies.
Fannie Mae and Freddie Mac (a.k.a. conventional loans) require money down and scores at least in the 600s. And they impose rate increases if scores fall below 740, unlike a short year ago which allowed the best rate regardless of score (albeit, one had to get an approval from the FNMA automated underwriting system). I have explained to many of my clients that Fannie Mae is giving you less and making you pay more.
Since they, being Fannie Mae, are making us pay more, it is seen as their way of playing catch up. They made poor credit and risk decisions which costs them dearly, so now they are getting back to sound risk and credit assessment and pricing it accordingly.
Considering all the credit and financial market turmoil in the past several months, mortgage rates have remained constant and steady. In fact they have dropped in December - below 6% for the national average.
The bottom line is your credit scores and down payment money rule these days. Each is telling in the risk a lender has with you. And loan risk is today is like the Black Plague in the 14th century. And that is not an overstatement.
This article was written by Richard Martin with Residential Mortgage for the sole purpose for www.jeffreydillonsells.com. You can contact Richard with any mortgage questions at...
Hey Everyone,
Don't you just love this time of the season where you can snuggle up by the fireplace with a good book or your significat other and enjoy the holiday's! It's not just the events, hustle, or bustle that affects me. What really is so great about this time is how everyone else is in good spirits. The people talk, drive, and act nicer than any other time of the year! The reflection is not upon themselve but others and that's whats so wonderful about it.
I hope you are able to take time during this season and slow down. Reflect about how good life is and how blessed we are!
Jeffrey Dillon
Herrington Realty Co.
Jeffreydillonsells.com
My wife and I put our first Christmas tree this evening and it was alot of fun!
Mistletoe Marketplace 2008 DON'T MISS THIS SHOPPING EVENT OF THE YEAR
November 6-8, 2008
It's that time of year again and The Junior League of Jackson, MS is looking forward to Mistletoe Marketplace 2008!! Mark your calendars for November 6-8, 2008. The three-day marketplace includes an array of special events, dining opportunities, live entertainment and cooking demonstrations from the Junior League's nationally recognized cookbooks. Over 35,000 shoppers from across the Southeast enjoy more than 165 merchants from across the United States offering unique gifts and holiday trends in a festive, family-friendly atmosphere. Proceeds from Mistletoe Marketplace support the Junior League's many community projects. Mistletoe Marketplace has been chosen by the American Bus Association as one of the 2007 Top 100 Events.
Mistletoe Marketplace is the largest fundraiser in Mississippi! You'll enjoy the excitement of this three-day holiday shopping extravagana featuring more than 100 merchants from across the nation. Each day is filled with special events designed to fuel the excitement of the approaching holiday season. This festive events is being held at the Mississippi Trade Mart on the fair grounds in Jackson, MS. Mistletoe Marketplace tickets are on sale now. Call 1-888-324-0027 to purchase your tickets.
Mistletoe Marketplace Live Auction items are available now.
Click here to see the items available for purchase prior to Mistletoe. 
The Junior League of Jackson, MS is an organization of women committed to promoting voluntarism, developing the potential of women and improving communities through the effective action and leadership of trained volunteers. Its purpose is exclusively educational and charitable. For more information about the Junior League of Jackson, MS click here.
The Junior League of Jackson, MS is a member organization of the Association of Junior Leagues International. To learn more about AJLI, visit their website at www.ajli.com
CLICK HERE FOR MORE INFORMATION ON UPCOMING EVENTS IN JACKSON, MS
Ready to make your next move? We have several Homes for Sale in Madison MS, Brandon MS, and Ridgeland MS. Search the local MLS for 1000's of homes in the Jackson, MS Metro area.
If you're Relocating to Brandon MS or live in this area and would like to view some of the homes currently listed on the market call Herrington Realty Co. today at 601.502.4693.
Looking for a home on the Reservoir? You will find everything you want in the Brandon MS area. The City of Brandon MS is a great place to live and is served by the Rankin County School District.
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A hard working real estate agent with great charisma and a love for God! Interested in connecting with like minded individuals with the same goals and aspirations as I do!
It can be easy to get lost in the shuffle and really not know what to do when moving to an area like Metro Jackson. That is why you need a knowlegable and qualified realtor by your side to assist in showing you the different suburbs and areas that make up Metro Jackson. I am certified by the local and national realtors associations and am also working on my certified credentials as a relocation specialist. Working with me will make such a difference! Why? I was born and raised in Madison County and I have seen this area explode in growth and become the leading area to live in throughout the Southern Region of the United States. I will put my knowledge and skills to work for you and your family to make your transfer as smooth as possible. Whether it's moving throughout the metro area or from out of state; I'm your guy! Let me work for you and I know you won't regret it!
My specialties are with new construction and high end existing homes. However, I never turn down the opportunity to help someone buy or sell a home whatever category it falls in. I am currently working to receive my certified credentials as a relocation specialists. Currently my market areas where I work mostly are in Madison and Rankin counties. My past clients include buyers, sellers, and investors.
If your looking to buy or sell a home in the near future, Jeffrey and his team of professionals at the Herrington Realty Company are here to serve you with the utmost intergrity and professionlism. Herrington Realty Company's website is the top real estate site for the Jackson Metro Real Estate Area. Search over 5000 MLS Listings, virtual tours and photos of homes in Madiosn, Brandon and Flowood MS. at www.herringtonrealtyco.com. Whether looking for a luxury home in Madison MS, or a Estate home in Madison County MS, or want to live at the Reservior, Brandon MS. Find out more infomation on local subdivisons in Madison and Rankin Counties
We have a network of builders in Madison and Rankin Counties. If your looking for new construction homes or existing homes, Let our team of professionals work for you!
We highly recommend The Herrington Realty Co. to any potential seller or buyer.
"We want to express our heartfelt thanks for the extraordinary effort you displayed in selling our home.
We were so please with working with Patti and her company. We can only say good things you listened to our desires and kept plugging till you found what we believe to be the absolute best house. We so appreciate everything you did for us.
Our team of professionals are committed to providing the highest standard of excellence in our industry.
Our Agents
Patti Herrington
<!-- Sellers Agent<br>-->Owner/Broker
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Cell: 601-966-7653
Fax: 601-977-6205
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Melissa Rhodes
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Mona Biedenharn
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Jo Lynn Taylor
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Dawn Henderson
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Melissa Honea
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Teresa Jackson
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Sherry Partridge
<!-- Sellers Agent<br>-->Listing Agent info@herringtonrealtyco.com Office: 601-977-1114 Fax: 601-977-6205
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Jeffrey Dillon
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