The Home Buyer's Korner

Information presented should be used for educational purposes only.

October 8th, 2015

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CREATING THE DREAM OF HOME OWNERSHIP

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Farrell Neighborhood, Clarksdale, Mississippi

Farrell

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The Farrell area median real estate price is $93,069, which is more expensive than 56.1 percent of the neighborhoods in Mississippi and 16.5 percent of the neighborhoods in the U.S.

The average rental price in Farrell is currently $897, and average rental cost in this neighborhood is higher than 64.6 percent of the neighborhoods in Mississippi.

Real estate vacancies in Farrell are 4.4 percent, which is lower than one will find in 79.6% of American neighborhoods. Demand for real estate in Farrell is above average for the U.S., and signals demand for either price increases or new construction of residential homes.

Farrell is a remote neighborhood located in Clarksdale, Mississippi, primarily made up of medium sized three or four bedroom to large four, five or more bedroom single-family and manufactured homes. Most of the residential real estate is owner occupied. Many of the residences in the Farrell neighborhood are established, but not old, having been built between 1970 and 1999, with a number of residences built between 1940 and 1969.

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways.

It used to be that most Americans lived on the farm, or otherwise made their living from the land, the forests, or the sea. With global trade and an economy increasingly based on providing services to one another, fewer people farm, fish or harvest timber now than at any time in American history. The Farrell neighborhood stands apart from most American neighborhood due to the proportion of its residents still working in these fields. With 6.0 percent of the workforce so employed, this neighborhood has a greater concentration of such workers than 97.3 percent of U.S. neighborhoods.

This neighborhood has wide open spaces, few people, and lots of space to stretch out. If you like locations that fit that description, you may like this neighborhood. With only 10.01 people per square mile living here, this neighborhood is less crowded than 97.2 percent of America.

If you are planning to retire in Mississippi, this neighborhood should be on your must-see list. For many reasons, Farrell may be considered a retiree’s dream neighborhood. It’s peaceful and quiet, has above average safety from crime compared to other neighborhoods in Mississippi, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 97.0 percent of neighborhoods in Mississippi.

Your future neighbors in the Farrell neighborhood of Clarksdale earn modest incomes, and  this neighborhood has an income lower than 78.2 percent of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Farrell neighborhood, 42.8 percent of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 19.4 percent of the residents employed. Other residents here are employed in manufacturing and laborer occupations at 18.5 percent, and 13.2 percent in clerical, assistant, and tech support occupations.

Culture is the shared and learned behavior of peoples. Undeniably, different ethnicity and ancestry have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicity or ancestry will express those cultures.

In the Farrell neighborhood of Clarksdale, Mississippi, residents most commonly identify their ethnicity or ancestry as Irish at 9.4 percent. There are also a number of people of English ancestry at 9.2 percent, and residents who report German roots at 5.4 percent. Some of the residents are also of Italian ancestry at 4.6 percent, along with some French ancestry residents at 2.0 percent and 0.9 percent of this neighborhood’s residents have Lebanese ancestry, among others.

The most common language spoken in the Farrell neighborhood is English, spoken by 99.1 percent of households.

Livingston Homes for Sale

MISSISSIPPI HOME OWNERSHIP TOOLS

Your Home Purchasing or Refinancing & Renovation Tools,

Home Improvements, Home Renovations,

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase.

Here are just a few of the home improvements

you might consider with any Home Renovation loan

Repair or replace a roof

Install, replace or repair gutters and downspouts

Replace, repair or upgrade your HVAC system

Repair or replace plumbing

Install, repair or replace electrical systems

Kitchen remodeling (including the purchase and installation of appliances)

Bathroom remodeling, Full interior painting, Total exterior painting

Repair or replace a septic system and/or well

Disability access (wheelchair ramp, elevator, widen doorways)

Build, repair or replace a deck, patio or porch

Basement waterproofing and finishing

Abatement/Stabilization of lead-based paint hazards

Replace old windows, Room additions, Finish an attic

Add a second story to your home

Replace a termite damaged sill plate (a water-damaged sill plate also)

Possible landscaping items such as correction of grading & drainage problems,

tree removal, repair a driveway and sidewalks

FHA 203K

Your Home Purchasing or Refinancing & Renovation Tool

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

FANNIE MAE HOMESTYLE

The Conventional Alternative to FHA 203K

Great for Real Estate Investors and Second Home Renovations

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

USDA RURAL DEVELOPMENT

Up to $10K for Home Improvements, Renovations or a Simple Remodel

Mortgage Loan Officers, Real Estate Agents & General Contractors are ready to assist you

A SIMPLE HOME SHOPPING INSPECTION TOOL

Organizing your home shopping experience affords a wise decision-making process.

This simple home inspection tool makes your ultimate buying decision a smart one.

To print this document, click on “Open in New Window” located at the lower right corner;

click on “File”; then click on “Print”. In the center of the screen you will

have the option to “Create A Printable PDF of the Presentation”.

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