http://glarmls.com/GLARReports/ListitLib/report_builder.aspx?category=1&r1=003YMgXgrAi3XV!PVD8iNf&m1=VYVIPFp83&footer=4956574850&maillog_id=8112091191

Nice home in the east end up for foreclosure. Could be a great deal for someone.

Deal of the Week.

http://glarmls.com/GLARReports/ListitLib/report_builder.aspx?category=1&r1=AA1CtP!PpH21!keKklS2cv&m1=av))QuL6e&footer=4956574850&maillog_id=8111974479

Forclosure home in he Lyndon area, this place looks to be a really good deal if your thinking of moving to the area this may be your house.

Flat Screen TV's

I recently had to go to Real Estate continuing education which was taught by a Real Estate attorney. I have known since being licensed that once a piece of personal property is attached to a piece of Real Estate it then becomes part of that Real Estate. You don't usually think of a TV as being a piece of Real Estate but if you attach your Plasma or LCD television to a wall in a manner that makes it apart of that home then you may be forced to leave your television with the home upon sell of that home. A good way to protect yourself from this is to write it out in the purchase agreement whether it is to remain or not. Simply advertising it to remain or not remain will not be enough it has to be apart of the signed contract. So if your selling your home make sure to take in consideration the way your TV is attached to the wall.

Deal of the week.

Cheapest housing in your going to find in Saint Mathews two bedroom one bath condo on Brownsboro Rd only $59,000 call for your showing. Click the link for more details:

http://glarmls.com/GLARReports/ListitLib/report_builder.aspx?category=1&r1=aagT_)u)x3BguqNmq9ZBdA&m1=FM12WnCc_&footer=4956574850&maillog_id=8111850638

In-Law Suites

In the past six months I have had two different people interested in In-Law suites one was a client who ended up purchasing a home with a walk out lower level that had a bedroom but never got a true in-law suite. The other persons wants me to keep an eye on the market and let him know when something comes up. So I just did a search and used the key words In-Law and came across just six listings in Louisville's East End and Oldham County none of which where under $300,000. There is a small market for these In-Law suites that may eventually grow with baby boomers taking care of their parents.

Here's what you need to get a true In-Law suite:

1. A walkout basement or another type of second entrance with no to very little steps (for example a sidewalk on a gradual slope to the lower level would be ideal.)
2. A bedroom, to meet building code you must have a full window and a closet in order to be a bedroom.
3. A kitchen is a big bonus, a small run of apartment grade cabinets (about the amount pictured above but not that nice) with some inexpensive appliances. A white coil top stove and a small fridge should be less than $1,000. The most expensive thing would probably be the plumbing for the sink. So make sure to bid the job out before you start the work.
4. A bathroom on the lower level is also a must have, making the doors big enough to fit a wheel chair would be wise. Grab bars for the shower and toilet could always be added later.

So there you have it all the key ingredients to having your very own In-Law Suite. Remember these suites are also appealing to people who have grown children just out of college and have moved back home and bratty teenagers who want their privacy.

New Listing

Hunting or Farm Land in Willisburg KY

At one point the owner of this property had 25 head of horses grazing the land with plenty of unused room. There is also tons of hunting potential with this propery deer and turkey are all over plus quail and dove. There is a trailer property that would make an ideal cabin.

50 Acres $123,000

30 Acres $81,000

Call for details

502-551-9396

Some Good News!!!!

We're Excited about the good news!
Because all you read or hear about in the news lately is bad, I took it upon myself to find some good news. I really think that if the media would be just a little more optimistic then consumers would have more confidence in the markets and things could be getting better. But all I hear is that we're all doomed so here are some pieces of news that should make you feel better.

From WLKY news channel 32; It seems that some experts are predicting because of the falling prices of oil its going to be cheaper to hear our homes this winter. GOOD NEWS! You can click the link below to get the full story.
http://www.wlky.com/money/17967416/detail.html

The Wall Street Journal reports that when Obama takes office 7,000 new jobs will be created nation wide. That's GOOD NEWS! The jobs pay any where between $30,000 and $175,000 a year and you can find out how to obtain those jobs in the article "Obama as Your Boss?"at the bellow link.
http://online.wsj.com/article/SB122653748039422809.html

Another report from the Wall Street Journal indicates that its a great time to shop. I know that news would make my girlfriend happy. I could really care less, but that should excite you female readers. Read about retailers who are offering deep discounts in the link below.
http://online.wsj.com/article/SB122654090330323183.html

Deal of the week.

This home is a 3 bedroom on bath home that is for sale for what the owner paid for it in 1999. Its near the Lyndon area close to the malls and shopping off Shelbyville RD. Its a great deal and wont last long. Call if you would like more info or would like to see it. 502-551-9396

Deal of the week.

1722 Ormsby

This is a huge house. I showed it briefly yesterday and it pretty much needs the entire interior to be redone from top to bottom. Its listed for $149,900 and sold for $186,900 in 2005. When I called the management company to get showing instructions I was told that $110,000 to $115,000 would be a good offer but it would be hard to financing on because of its condition. Its in one of my favorite areas of Louisville and could be a great investment for someone with the means to purchase it.

I did not look at the entire home just about half of the main floor and from what I saw it was pretty much a shell. It needed new flooring some new drywall in areas and all new bathroom fixtures (the toilet was setting in the middle of the living room.) Its worth the look if you have the money to put into it.

Home Buying takes teamwork.

After searching the Internet for days when a potential buyer finally gets serious and decides he or she is really going to buy a home. The first step is usually one of two things. A) They go to a lender and see what they can afford or B) They meet with a Realtor and start looking at houses. When I run into someone who fits option B I always take them to a mortgage broker. This way we can have a good starting point for our home search and I can find that person a home that fits their budget. Today I was working with someone from option A, who had already done all of his preliminary paper work that comes with getting a loan and was going to speed up his home purchase. I mentioned several times that I would like to talk to his loan officer but he wasn't having it, he was going to take care of that stuff himself I was just to write the offer. What he doesn't realize that all not all mortgages work for all homes and this particular home he was rushing into buying would not be acceptable to the FHA loan he was planning on using. So by hurrying up and doing everything himself he actually wasted a few days and set himself back in the home buying process.

All lenders have Realtors they work with on a regular basis and if you a person like I described in option A please ask your mortgage broker for a list of Realtors he would recommend you work with. Then find the one that best meets your needs as a buyer. If your an option B person ask your Realtor for a list of good lenders find the loan that will work best for you and then get a good faith estimate from all the lenders on that list. Either way make sure that your lender and your Realtor exchange contact iformation and are working side by side on your home purchase. When Realtors and Lenders work hand in hand on a Real Estate transaction things go much more smoothly.

Tax credit for first-time homebuyers....

Many of you have heard a number of different things regarding the tax credit for first time homebuyers. This post is intended to clear up some misconceptions. The following is based on information available as of July 30, 2008. As with any new law, there are a number of uncertainties that will not be determined until the law is carried out. This post is neither indended to encourage nor dissuade your descision on whether to apply for the tax credit.

On July 30, 2008, President George Bush signed the Housing and Economic Recovery Act of 2008 (H.R. 3221), with the goal to stimulate the economy. The Act allows a $7,500 tax credit for qualified first-time home buyers purchasing a home on or after April 9, 2008 and before July 1, 2009. The tax credit will work like an interest free loan.

First time homebuyers may choose to obtain a tax credit for ten percent of the sales price of their home, capping at $7,500. The amount is the same no matter how many people buy the home, married, single or other. There is no pre-purchase authorization, application or similar approval process. A qualified first time homebuyer will elect the tax credit on his or her Federal tax return.

Provided that the home is used as a primary residence (occupy it 50% of the time), any home located in the United Sates purchased by an eligible first-time homebuyer will qualify for the credit. However, property transferred between family members will not qualify for the credit.

In order to qualify for the credit, a taxpayer must have an adjusted gross income of $75,000 or less ($150,000 or less for a married couple). Remember, all income is counted, whether made inside or outside the U.S. In addition, the taxpayer must be a first time homebuyer – purchaser or purchaser’s spouse may not have owned a principle residence in the three years prior to the purchase. Note – the homebuyer or homebuyer’s spouse may have owned a vacation home or investment property.

Repayment period starts 2 years after the year filing for the credit. The loan must be repaid at a rate of 6.67% per year(that’s roughly $500 per year for the full credit of $7,500). REMEMBER - There is no interest that accrues on the amount received in the tax credit. If home is resold before 15 years, the remainder of credit is captured at sale. If the gain on the sale is less than the amount that must be repaid, the remaining portion of the liability will be forgiven.

There are still a number of uncertainties in this Act. The public has not been informed on how the IRS will keep track of these credits. However, as of July 30, 2008, there will not be a lien attached to the home. It is also unknown how two unmarried persons buying a home will be seen when one is a first time homebuyer and the other is not.

Keep a lookout for updates regarding this Act. There will be an overwhelming amount of information put out by a number of different sources in the coming months. Be careful where you get your information and feel free to contact me with any questions.

Colleen

Deals of the week

http://glarmls.com/GLARReports/ListitLib/show_report.aspx?ID=8111541645

This is one of 51 homes that I have found that are an absolute steal. Click the above link for homes in: The Highlands, Audubon Park, Louisville's East End, J-Town, Frankfort, Taylorsville, Lagrange, Westport, Crestwood and Shelbyville. Interest rates and home prices are both low, now is the time to buy! Call if there is any interest. 502-551-9396

New Blogger on Board

http://www.englishattorneys.com/

I have recruited on of the best Real Estate Lawyers that I have come across in my years in the Real Estate biz. Colleen English with English and Morris does a wonderful job handling my Real Estate closings. She is going to be sharing with us some of her knowledge pertaining to Real Estate law. Be looking forward to hearing from Colleen, what she has to say could protect you and your home your must valuable asset.

October post

Fall is a great time to get your house ready for winter.

1. Make sure your furnace has been cleaned and serviced recently. If it hasn't you should have an HVAC contractor check it and clean it to ensure it will keep you and your family warm all winter.
2. If you use a wood burning fireplace, make sure your chimney has been cleaned to keep it free of creosote.
3. If you see any gaps at your exterior doors when they are closed, add some weather stripping to the door jamb. (Including the door to the garage)
4. Make sure all windows are well sealed at the exterior, with no gaps between frame and house.
5. If you have gable vents make sure they are covered with screens and the screen is in good condition, to help keep small critters from getting into your attic to nest.
6. Standing in your yard, take a look at your roof on all sides. If you notice any area of the shingles not laying flat or if you see lifted areas you should have these repaired.
7. Keep those gutters clean of leaves and debris.

Coming Soon

http://cfg.cc/

I have invited two other Real Estate experts in other aspects of Real Estate to start writing some post on a period basis. The first being Lee Waird from Lee's home inspections, Lee does almost all of my home inspections and is a wealth of knowledge on home maintenance and different mechanics that houses have. The other being Nick Ellis from Continental Funding Group, Nick is the hardest working mortgage broker I have come across so far in my real estate career. He is always knowledgeable in the every changing world of home mortgages. He will be dropping in on occasion to give some expert advise and views.

Deal of the Week

Click the below link for more details:

http://glarmls.com/GLARReports/ListitLib/report_builder.aspx?category=1&r1=..X9PuLu67RXL3ZN3qIRUj&m1=JclcKKey2&footer=4956574850&maillog_id=8111454250

This bank repo is a town home located off Murphy's lane, they usually sale for around $125,000ish and are fairly new. The bedrooms are huge and is has a great open layout. This one was just lowered to $109,900. I think its worth looking at if your in the market for a town home.

The Art of Low Balling

Blast From The Past

As a follow up to my lastes posting I wanted to relist this old post from 2008.

There are many things to consider when offering a seller a low ball offer. Some homes are not susceptible to low ball offers and one would just be wasting there time trying to submit a low offer on these homes. Homes usually sell for around 96% of there asking price, but there are some homes out there that can be low balled and be thankful for even getting an offer at all. Here are some things to look for when considering a low ball offer:

1. Length of time on the Market: If a home has been on the market for four months or longer chances are the seller is becoming somewhat frustrated and is looking to move on.
   
2. Previous Purchase Price: Unless the property is outside of the Realtors area of expertise he or she more than likely can tell you what the sellers paid for the property and when they bought it. This information can be pulled from PVA records or from the MLS (Multiple Listing Service). If the sellers purchased the home for significantly less than the asking price I would say this is another sign that you can low ball them.
   
3. Motivation to Sell: Some people sale there home just because they like another home in the area and would like to move but don’t necessarily have to. These people can’t be low balled. But if you walk into a home and it is vacant or there are moving boxes around, this home may be ready to low ball.
   
   This isn’t a full proof recipe for getting a home below market value but homes that meet all of these qualification are totally vulnerable to be low balled. A good realtor can usually get you all this information and a shameless realtor like myself would be happy to deliver your low ball offer.

Deal of the week.

Details below:

http://glarmls.com/GLARReports/ListitLib/report_builder.aspx?category=1&r1=YY8MeZIZACp8InJGn1Ep2o&m1=kloJyyh*n&footer=4956574850&maillog_id=8111320388

Some (someone with alot more money than me) could cash in on this phat pad. Its listed for $619,000 right now and was purchased for $725,000 in 2007. Its in summerfield by the lake in crestwood which is off of hwy 329. This one could be a really good deal and a really good sale for me so call if your interested.

Deal of the week.

Click below for more info:

http://glarmls.com/GLARReports/ListitLib/report_builder.aspx?category=1&r1=eeQ67hvhtR)QvB9TB0q)s4&m1=ZDDIFFp83&footer=4956574850&maillog_id=8111273709

This is a three bedroom two bath condo in Douglass hills. Its been a while since one this size has sold for under a 100k. Its right off Shelbyville Rd. in Middletown and could really be a nice investment for someone. Call if you need any more details.

Somebody Should buy a lake house!!!

This little piece of heaven is only $32,500!!! At this affordable price someone out there should jump on it, then have me over for the weekend!! I will have the contract waiting and be standing by.

Ohhh... Its not that bad.

I really don't think the Real Estate market is as bad as the media makes it out to be. Sure there are a lot of foreclosures and its still a buyers market, but homes are still selling. I've sold three this week and sold a listing after having it on the market for just a week. If you have your home in tip top shape and your not greedy on your pricing then your home will sell. The homes that are struggling are the homes that aren't move in ready. These days if buyers purchase a home that isn't neutrally and tastefully painted with neutral colors throughout, there mind set turns into, might as well buy a home that they can flip and makes some money on. So there is hope you just need to adapt to this market make sure there aren't any flaws in your home to keep people from walking away.

Free Months Gym Membership

Have me represent you in a Real Estate Transaction and receive a free months gym membership at the Louisville Athletic Club. Then you can get buff like the guy pictured above!!!

Deal of The Week.

View more details below:

http://glarmls.com/GLARReports/ListitLib/report_builder.aspx?category=1&r1=WWoh-ClCGaKolOu)OvLK*0&m1=ClbckkHE8&footer=4956574850&maillog_id=8111166715

This is a one bedroom condo across the street from great new development going up on the corner of Westport Road and Herr Lane. The development is called Westport Village and has plenty of cool little shops, resturants and bars. I sold one of these places over a year ago for $75,000 and now they are selling in the lower $80,000. Great little place for a first time home buyer, you should see great appreciation out of this place due to the growth going on in the area. There are plans to put a ramp onto the Waterson off Westport right down the road. Call and schedule an apointment if you would like a showing.

3 Good Reasons To Buy a House Right Now!!

Well, I'm officially a Real Estate nerd, its 9:00 on a Friday night and here I am in front of my computer working on Real Estate stuff. But its okay.... cause I love it! What I love even more are the following three facts that should get you out of your apartment or parents basement and into your first home:

Free Money... Well Kinda

Housing Legislation just passed a bill for first time home buyers. It allows first time home buyers to receive up to a $7,500 tax credit if you purchase your first home between now and April of 2009. Here's how it works, you will get a credit for 10% of the sales price of your home but it can not exceed $7,500. The money isn't exactly free but it is a free loan (aka no interest) that you will have to pay back over 15 years in equal instalments. If you sell your new home for more then you paid for it and before you pay the $7,500 back the outstanding balance must be credited back to Uncle Sam. But all in all its still a good deal that should be taken advantage of.

FHA Down Payment Assistance

As of October 2008 down payment assistance programs such as Neihamiah, Ameridream and Genesis will no longer exist. These programs allow sellers to assist buyers with their down payments up to 3%. Which with these three programs that's all you need is 97% loan to value to qualify.

Its a Buyer's Market

There are plenty of homes out there that can be gotten at an absolute deal. Although the market isn't as bad as the media makes it out to be, it still favors the buyers more so than the sellers and if your not to picky you can really cash in on someone else's misfortune. On top of that interest rates are still low. Earlier today I checked and they where at 6.25% on a 30 year mortgage.

If these three incentives don't motivate you to buy your first home then somethings wrong. Showing houses early tomorrow morning so I'm calling it a early night let me know what you think of my post. Just remember I'm a realtor and not an English professor so no criticism on my grammar.

What to look forward to on this site!!

In the next few weeks I will be posting some exciting news in the Real Estate world. The news which excites me most is the bill that congress just passed that allows first time home buyers to receive up to a $7,500 tax credit when they purchase their first home. One of the topics that will fascinate buyers the most will be "The Art of Low Balling". I will also be posting why you may want to use a realtor when buying or selling your home.

I will be doing a weekly post called "Deal of The Week" this is where I will concentrate on one home for sale in the Louisville area that I think will be great investments.

So be looking forward to the first few post although they may be grammatically rough at times they will be informative and can really make you some dough!