Pat Starnes' Snippets

It can't be good when your city is mentioned on the Weather Channel or the national news. A winter blast is predicted across the Deep South, especially along the I-20 corridor. The experts are predicting 1-3 inches of snow for Atlanta, Birmingham, Meridian and Jackson.

The south typically isn't prepared for snow, since we don't usually see accumulation. We don't know how to drive in the white stuff, and schools are usually closed if there is the slightest mention of snow in the forecast.

Snow has been the primary topic of conversation today, and it hasn't started to fall yet! But bring it on. I am ready. My pantry is stocked with the essentials...coffee, cream, sugar, Dr. Pepper, and chocolate. I bought a new magazine on the way home this afternoon. I have clean clothes, the plants are covered and the pipes are wrapped (I think). As long as it isn't too cold and we lose power, we'll be fine. But have your emergency plan ready, just in case.

I accidentally created a compost bin a few weeks ago. While raking leaves from my front lawn, I completely filled my 45-gallon trash can. Because the leaves were wet from a recent rain, I scooped (raked) them directly into the trash can with no liners or bags. Suddenly I had the "ah ha" moment and my compost bin was born.

You see, I don't have "dirt" in my yard. Rather, I have Yazoo Clay, which needs all the nourishment it can get. By springtime I should be able to supplement my landscaping with nutrient-rich compost from my fall leaves and other organic materials. In addition to enriching my "soil", composting is good for the "soul". 

Doing good things for the planet can start in your own back yard!

If you are interested in composting, refer to this list of suitable materials.

An exciting new program is making funds available for Mississippi homebuyers to purchase bank owned foreclosures throughout the state. The program, "Home Buyer Advantage" hasn't received a lot of press, but it is a tremendous opportunity.

Don't confuse this program, which is funded by the Mississippi Development Authority (MDA) through Congress's Neighborhood Stabilization Program with the $8,000 Federal Tax Credit. They are two separate homebuyer incentive programs. And guess what? You could be eligible for BOTH credits!

The "Home Buyer Advantage" is designed to prevent neighborhood decline from having too many foreclosures. The requirements are relatively simple, but the highlights are as follows:

• The foreclosure you wish to purchase MUST BE your primary residence. This is not a program for investors.
• Current homeowners ARE eligible (as long as they occupy the foreclosed property).
• There are household income limits based on the county in which the property is located. For Madison, Rankin, and Hinds Counties, the income limit cannot exceed $47,650.
• Applicants must spend eight hours in a pre-purchase homebuyer education class (through a HUD-approved counselor).
• You must qualify for a mortgage.
• The purchase price of the property must be 1% BELOW the current appraised market value.
• The purchase price cannot exceed $238,000.

For further information, visit MS Home Corp or contact this Realtor.

By now, word has traveled throughout the housing industry about the extension of the 2009 First Time Home Buyer Tax Credit. An added feature to the act is the inclusion of move-up buyers, those who have lived in their existing homes for a minimum of five years. These buyers, most of them anyway, will be eligible to receive a maximum of $6,500 tax credit.

There are income limits for both categories of buyers - $125,000 for singles and $225,000 for married couples. And there is a cap on the price of the home of $800,000.

Homes should be "under contract" by April 30, 2010 and must close by June 30, 2010 to be eligible for the credit.

Visit the website for the Federal Housing Tax Credit.

As a Realtor and someone concerned about our economy, I am happy to see the government extend and modify the existing tax credit. However, my personal opinion is that it is unfortunate so many potential buyers will be left out.

Don't most homeowners trade up every three to five years? Those who tend to move more frequently will not be allowed to participate in the tax credit. On the other hand, will $6,500 induce a family to trade up if they normally live in their home for historically longer periods?

I would have preferred to see the tax credit awarded to any move-up buyer. Or at least those who had lived in their homes for a shorter timeframe. Three years might have been more equitable.

At any rate, this is important, welcome news for the real estate industry and many homebuyers throughout the country.

This is a rare opportunity to enjoy relaxed waterfront living on the Ross Barnett Reservoir in Brandon, MS. This property will be available for viewing Sunday, October 25th between 3-5 p.m.

304 Forest Point Drive

$247,500

Directions to 304 Forest Point

• Completely Updated - Approximately 2200 square feet
• Formal living room with hardwood flooring
• Formal dining
• Great room with fireplace, hardwood floors, and lots of windows
• 3 BRs/ 2 Baths
• 2 Car attached garage
• Waterfront Deck
• 150 feet of waterfront on Ross Barnett Reservoir
• Private Boat Slip
• Scenic Nature Island behind property

Listing compliments of Rita McIntosh, McIntosh and Assoc., LLC

Contact Pat Starnes at 601-278-4513 for further information