We still can close Stated Loans. These do not meet Fannie/Freddie guidelines. This is a niche product held in-house by our investor to reward self employed borrowers that have exceptional credit. Borrowers will now have to put 25% down on these purchases and will have to meet the following criteria:

- Must be self employed and provide documentation that they own 50%+ of the business

- Provide CPA letter certifying that borrower is self employed, current on taxes and has been a "____" for 'X" of years.

- Validation that business exists through independent search of the business name via phone book, internet, etc.

- Must have minimum credit score of 700+ middle FICO score & have 3+ open tradelines on credit, each with a 12 month current history and no lates.

- Borrower must sign 4506 or 4506T - that they have filed tax returns for last 4-8 yrs.

- No bankruptcy's in last 5+ yrs.

- Total DTI cannot exceed 36%

The one investor that buys these loans holds these in-house. This means that they can cancel the program at anytime. If you are a homebuyer and need one of these loans, be sure that you can meet all of these requirements, no exceptions.

Interest rates are about .5% above Conventional Market pricing.

Call me if you need one of these loans in Mississippi.

Molly Lionberger, Assistant Vice President, First Bank and Trust of Mississippi.

NORTHWEST MISSISSIPPI MARKET REPORT (JUNE)

SENATOBIA REAL ESTATE
TATE COUNTY REAL ESTATE
HERNANDO REAL ESTATE

On July 23, 2008, there were 180 Active listings in Tate County (99 in Senatobia) in the Northwest Mississippi MLS.

The lowest priced listing in Senatobia is a 3BR, 2BA investment property listed at $49,500.

The highest priced listing in Senatobia is a 4BR, 4BA custom built home on 60 acres for $767,000.

The interesting thing about our rural market is that these 2 homes are right around the corner from each other. The median price is $142,000.

In Sentobia, there were 14 units sold in June, 2008 with an average sales price of $147,790. The average days on the market is 68 and the absorption rate is 56 weeks of inventory.

In Hernando, there are 289 Active listings with the median price being $234,900. The lowest priced listing is a 19 yr. old mobile home on 2.5 acres for $60,000. The highest priced listing is a 4BR, 2.5BA home on 95.8 acres for $1,584,000.

There were 34 sold units in Hernando in June, 2008. The average sales price was $190,029. The average days on the market was 125 and we currently have 37 weeks of inventory in Hernando.

I have won the Platinum Multi-Million Dollar Award for 2006 and 2007. This award is only given to Brokers and Agents that meet very strict standards and achievments in Property Sales. I achieved this award in my first 5 months in the business in 2006. And in 2007 I was one of the only 2 or 3 Agents (not Brokers) to achieve this award in our Local Market. I am currently well on my way in 2008. Having sold over 3 Million Dollars (19 Properties) in Real Estate already this year even with our "DECLINING MARKET". I am currently a BUYER & SELLER's agent and look forward to sharing my expertise with you in finding your "DREAM PROPERTY" As well as selling your current home in the quickest time possible. GREAT NEWS to BUYERS. I will work with you to find you a home 24/7 till we find you the perfect home at NO COST TO YOU!!! Check out my website at www.msrealtorkc.com

am SOOOO GLAD to see you on Active Rain. You are my favorite Jackson County realtor!

For all you homebuyers looking for a buyers agent that will really WORK FOR YOU...YOU NEED TO CALL KAREN CHEWNING. She has negotiated unbelievable deals for homebuyers. I know this because I have done the financing for many of her clients.

I have won the Platinum Multi-Million Dollar Award for 2006 and 2007. This award is only given to Brokers and Agents that meet very strict standards and achievments in Property Sales. I achieved this award in my first 5 months in the business in 2006. And in 2007 I was one of the only 2 or 3 Agents (not Brokers) to achieve this award in our Local Market. I am currently well on my way in 2008. Having sold over 3 Million Dollars (19 Properties) in Real Estate already this year even with our "DECLINING MARKET". I am currently a BUYER & SELLER's agent and look forward to sharing my expertise with you in finding your "DREAM PROPERTY" As well as selling your current home in the quickest time possible. GREAT NEWS to BUYERS. I will work with you to find you a home 24/7 till we find you the perfect home at NO COST TO YOU!!! Check out my website at www.msrealtorkc.com

Well you have come to the right place. Ocean Springs Ms is one of the Loveliest places in the South. From the Small town charm of downtown, lined with Old Oak trees and very quaint shops, and Art Galleries. To the Beaches and great waterfront properties. We are 45 Minutes from Mobile, Al 1 hour from New Orleans and the Casinos and hopping night life are just over our brand new Ocean Springs/Biloxi Bridge. For a taste of this please contact me for help. I have won the Platinum Multi-Million Dollar Award for 2006 and 2007. This award is only given to Brokers and Agents that meet very strict standards and achievments in Property Sales. I achieved this award in my first 5 months in the business in 2006. And in 2007 I was one of the only 2 or 3 Agents (not Brokers) to achieve this award in our Local Market. I am currently well on my way in 2008. Having sold over 3 Million Dollars (19 Properties) in Real Estate already this year even with our "DECLINING MARKET". I am currently a BUYER & SELLER's agent and look forward to sharing my expertise with you in finding your "DREAM PROPERTY" As well as selling your current home in the quickest time possible. GREAT NEWS to BUYERS. I will work with you to find you a home 24/7 till we find you the perfect home at NO COST TO YOU!!! Check out my website at www.msrealtorkc.com

After many long months of debate over Madison 's annexation, the city almost doubled its size over the weekend by adding 13.2 miles around the city limits. There are an estimated 2,000 plus single family homes added, making a total of almost 10,000 new Madison residents.

Windsor Hills, Ingleside, Annandale , Fairfield , and Reunion are all among the annexed subdivisions. There were a few residents that fought against the annexation by taking their effort to court, but the state Supreme Court ruled in favor of the city proceeding with the annexation in April.

Madison has always been known for its southern hospitality and small town atmosphere. The city will still remain a smaller town near Jackson , Mississippi where there are bigger city amenities. Madison is also an international gateway to recreation, business and education.

The city has definitely grown from its humble beginnings into a city that is flourishing and is proud of its community. We love the city of Madison and hope the new additions to Madison come to love it, too.

Senatobia, the county seat of Tate County is home to The Baddour Center, a community for adults with intellectual disabilities. The Baddour Center was founded in 1978 by the Paul Baddour family (who started Fred's Dollar Stors). At that time, more than 71% of adults with intellectual disabilies lived in large, state-run institutions.

The Baddour Center campus off of Hwy 51 in Senatobia consists of approximately 120 acres and is home to more than 170 adults. The center provides its residents a way to learn, to succeed and a way to inspire others.

Residential services range from supervised group homes to independent, on-campus apartments. The residences have spacious bedrooms, private baths, a central living room and kitchen. In addition to residential services, they also provide for day-client services.

The community life programs help to provide residents to develop and improve social skills, physical fitness, special talents, and spiritual growth.

In addition to life skills training, the Baddour Center provides classroom training and computer lab. They have vocational work progrms including contracts with FedEx and an on-campus retail garden center. The garden center is well-known around the area for fantastic varieties and healthy plants. They also have ornamental items for your garden.

One of the better known programs of the Baddour Center is a group of talented singers called The Miracles. This group is made up of residents and the tour extensively, sharing their talents and informing others of the work of the Baddour Center.

Many recreational activities are available, both on and off campus such as: Broadway musicals, spectator sports, shopping, movies, and Special Olympics. The center has a Resident Government Association which is a self-advocay group sponsored by Community Life. They have annual elections for officers and representatives are chosen.

The Baddour Center is associated with the United Methodist Church and is truly a great asset to Tate County. For more information, visit their website HERE.

Arkabutla Lake and State Park is located in southern Desoto County (Hernando) and northwest Tate County. The park features a 33,400-acre lake and 37,700 acres of public hunting land. The park offers recreational facilities including three Class A campgrounds with electricity, water, hot showers, flush comfort stations, and sewage dump stations. There are five day use areas with over 500 picnic sites, picnic pavillions, sand beaches, and boat ramps.

Arkabutla Lake has some of the best crappie fishing in the country and in 2007, Bass Pro Shops sponsored a Crappie Masters Tournament there. In addition to crappie, you can find largemouth bass and catfish. When you think of Mississippi, you probably don't think of sailing, but Arkabutla Lake has a reputation for being the "windiest lake between Lake Michigan and the Gulf", making it an attraction for sailing enthusiasts.

Arkabutla Lake is the U.S. Corps of Engineers Vicksburg District's northern-most flood control project within the Yazoo River Basin. The dam was constructed on the Coldwater River in Tate and Desoto Counties and was completed in 1943.

Whether you are looking for a serious fishing spot; a camping get-away; a spot for a family reunion; or just a Sunday picnic spot, Arkabuta Lake and State Park has a lot to offer. For more information, visit the Army Corp of Engineers site HERE.

REAL ESTATE SENATOBIA - MARKET REPORT
REAL ESTATE HERNANDO - MARKET REPORT

These numbers were taken from the NWMAR MLS.

Senatobia:
16 units sold in May 2008 (7 were land) with average residential sales price of $136,942
26 units sold in April 2008 (13 were land) with average residential sales price of $137,515
45 units sold in May 2007 (14 wree land) with average residential sales price of $136,289

Hernando:
40 units sold in May 2008 (3 were land) with average residential sales price of $211,848
39 units sold in April 2008 (3 were land) with average residential sales price of $184,138
56 units sold in May 2007 (4 were land) with average residential sales price of $191,118

Absorption Rate (includes Tate County, Desoto County, Marshall County, and Panaola County)
42 weeks of inventory

*Accuracy believed to be correct but cannot be guaranteed.

Families enjoying the recent Mission Pike County annual picnic at Percy Quin State Park in McComb.

McComb, Mississippi, recently was featured in Effect magazine as an ideal retirement community. McComb is one of only a few towns certified by the American Association of Retirement Communities. To become certified, towns must meet qualifications in terms of housing, safety, civic pride, shopping, educational, cultural, and recreational opportunities, and availability of hospital and medical care.

Please read about McComb in pages three and four of the Effect article:

http://www.larsonallen.com/effect/spring08/feature.pdf

Also, the Mississippi Development Authority, Division of Tourism Development, has its own certification program. McComb is one of only twenty-one towns in the state to earn the distinction of being a Certified Retirement Community. According to the website, the factors examined in the search for certification include "affordable cost of living, low taxes, low crime rate, quality medical care, recreation, educational and cultural opportunities, and most importantly - a warm, welcoming community." Read the VisitMississipi.org article about McComb as a Certified Retirement Community.

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