To List or Not to List.

Lots of people I have talked to are waiting until the holiday season is over before they put their house on the market. The mindset is that the next month or two of the calender year is just a dead period that no one ever buys or sells in. But I'm here to tell you that, that's not always the case. I have sold several houses this season and know people are still out looking. Lots of times people that are thinking of moving to the area are doing so to be closer to family. They are often out looking at houses while they are in town visiting family for the holidays. With the $6,500 tax credit for home sellers ending in April, time is of the essence. So my advice to you is get your home ready for the market and get it listed before you miss out on the tax credit and miss out on a rare market that has a selling season extending on into the holidays.

Doing Fine in 2009

Even though 25% of Realtors have left the business during the recession, I'm still doing fine. I am on pace to match last years sells and am building my business more and more every day.

I'm really excited about the new tax credits and think that they could really help move some houses. This could be the best time in history to buy a home. With the combination of low rates, free money and tons of deals to be had.

Tax Credit Info

This guy couldn't be more pumped about Obama wanting to hand out everyone free money. The are three different tax credits that you may qualify for if you are considering purchasing or selling a home in Kentucky.

• The $8,000 tax credit for first time home buyers, this bill has been extended until April 2010 so if you weren't able to take advantage of it first time then here is your chance at redemption.
• Now if you are selling a home that you have lived in for 5 years or more than you are eligible for a $6,500 tax credit when your home sells.
• The one very few people know about is the $5,000 tax credit for anyone who purchases a house that has never been lived in. This offer comes from the state of Kentucky's revenue department and can not be used with the $8,000 from the U.S government.

If you have any questions about the credits or want to buy or sell a home. Please give me a call at any time!

Waterfront Park Place Condo Auction

The remaining 15 units at Waterfront Park Place are going to be auctioned off November 17th. This building has to be the most recognized condo complex in the entire city. The sizes vary from 1300 sg ft all the way up to 3000 sq ft. These places are extremely nice and bring top dollar in rent when furnished. The tend to be a favorite of Humana executives who are in town just for a short period. I'm not really sure what they will go for but its worth a shot of your at all interested.

New Home Tax Credit

Kentucky is offering a tax credit to anyone who purchases a home that has never been lived in. I have seen some companies advertising $13,000 tax credits combining the new home tax credit with the first time home buyers tax credit. You cant do that, according to Kentucky department of revenue. Just wanted to clear things up.

Bright Idea

Just a thought. I have had several instances were I was showing homes and went to turn on overhead lights were the seller was using energy saving bulbs which is great idea usually. But it may not be such a good idea if your selling your house. Two different buyers in two different homes thought that the room was poorly lit when really it just takes the energy saving bulbs a while to warm up. My bright idea is to replace the bulbs with regular ones and take the more expensive energy saver bulbs with you to your next home. Buyers could get the wrong impression of your home turn the lights on, glance at the dim room turn the lights out and walk out before the bulbs have a chance to warm up.

Suggestions that will help your home sale!

• Keep the lawn trimmed and edged
• Weed the flower gardens
• Trim shrubs and eliminate dead branches
• Have the exterior clean and attractive
• Make the entrance way inviting
• Walls should be free of smudges and fingerprints\
• Consider a fresh coat of neutral paint
• Arrange furniture to make a room appear more spacious
• Temporarily stare worn or unattractive furniture
• Wash windows and sills
• Curtains and drapes should be cleaned
• Shampoo rugs and carpets
• Floors should be waxed
• Make sure all light bulbs are burning
• Clean out closets
• Be sure clothes and shoes are neatly arranged
• Bathrooms should be sparkly clean and free of mildew
• If neccessary, replace shower curtains
• Bedrooms hould be neat and beds always made
• Remove any clutter
• The kitchen should be clean and dishes put away
• Use packing boxes to clean and organize

Building your Credit

Lots of my friends are just now starting a new chapter in life. They are getting out of College, getting their first jobs and moving to new city's. They normally rent a place for six to twelve months then start looking for a home to call their own. Which is normal, but it isn't as easy for young people to obtain a loan as it was just a year ago. Creditors are getting tighter with their what they are requiring, which is making it harder and harder to obtain a loan. Here are a few good ways to get your credit rolling.

1. Start a savings account. Most people already have a checking account but not a savings account. You really don't need all that much money in it you just need to have it. Creditors will like the fact that you have money set aside.


2. If your like me when you graduate college your still driving the same car you had in high school and you hate it. So your going to want a new one since your now making real money and can afford the payments. Make sure you purchase something that you can make double payments on and have your parents co-sign for a car loan and pay it off as fast as possible. Don't make just the minimal payments, pay it off aggressively. This will be the start to actually producing good credit.


3. Before you even graduate college open up a credit card. You don't need a huge limit and defiantly don't carry a balance on it just have it. Put just a few purchases on it a month and pay off the balance every month.

If you follow these three things it should get you started on producing a good credit score. Once you have established credit and are looking for that first home call me and I can help you find your first home!

Adding Curb apeal on a Budget

The last few days I have been able to get some things done around the house and I spent most of my focus on adding curb appeal. I was able to do a lot for just $50 by using plants that I already had and purchasing some great deals. For just $50 I was able to purchase 60 different plants and am excited about the results.

My first find was a guy selling mums near the Ford plant from his backyard garden. For $4 I was able to get some good sized mums that were really good sizes (about the size of a basketball). I gave the guy $40 bucks and drove away with my truck bed just about totally full of flowers. I also had some day lillys and some ornamental grasses that I was able to split up and replant in order to cover more ground. That helped my landscape bed look fuller and I didn't spend any money at all on it.

Later that day I went into Wal-Mart and found a deal on Tulips $10 for a pack of 5o bulbs. I planted the bulbs first 43 in one area then put the mums on top of them. That way I will have something there year round. Once the mums die down all you have to do is cut them down to the roots then cover them with mulch. Then just wait for spring to hit and your tulips will start to come up. It should really look nice and not really cost a lot of money.

Great Deal

A new foreclosure just hit the market in Oldham County. It has 1000+ square feet 3 bedrooms and a bath and its listed for $79,900. Call for a showing it wont last long.

Window is Closing

I know I have said this about 3 or 4 times on either here or twitter or facebook but the tax credit rebate window is closing. I figure you have about 15 more days to get in a contract or else you may miss out. Closing are getting harder and harder to schedule and 30 day closing are hard to do these days. So get out there and get shopping and don't be so darn picky.

Affordable Lake Home

I want a lake home so bad I can't stand it, but its really not the right time for me to be running out and buying a second home so I thought I would post this for someone who can afford it. Looks like a solid little house across the street from the lake but with access to a Lake and possibly a dock with COE approval. Call for details.

Good read from the Wall Street Journal

http://online.wsj.com/article/SB10001424052970204047504574386802310702622.html

Bardstown Road Area Condo $62,500

I have a renovated condo listed on Gardiner Lane just off Bardstown Rd listed for $62,500. The kitchen has been gutted and totally refinished with brand new cabinets and stainless steal appliances. Its on the ground floor extremely close to the pool. Its a must see!

July Sales up 25%!

Home sales in Louisville for July were up 25% compared to last years records. Of course it would have to turn around right the month I get married. I was so swamped with work and trying to get everything in line for the wedding just made me sooo stressed. But whose to complain things might be back to normal soon. I wouldn't be surprised if we had record months for the rest of the year too. If your on the fence thinking to buy remember the tax credit ends November 31st... you need to hustle.

Last Chance for First Time Home Buyers Tax

Time is literally running out on the first time home buyers tax credit. You MUST close by November 31st in order to receive the $8,000. Now that banks are being so hard on under writers and appraisers deals are taking much longer than they should to close. Last year you could easily close a deal in two weeks now its taking at least a month. So if your not under contract in the next two weeks you could risk not closing in time and missing the dead line to receive the tax credit.

Hot Links for Good News!

KY Department of Revenue: $5,000 tax credit for purchasing a new home.
http://www.revenue.ky.gov/dyq.htm

CNNMoney.com: Homes Still affordable
http://money.cnn.com/2009/08/19/real_estate/most_affordable_housing_markets/index.htm?postversion=2009081914

Quadruple Stacked!

Sorry its been so long since the last time I posted a blog, but I have been extremely busy with getting ready for my wedding. It seems like every time I leave town business just goes crazy and I am covered up with work. But its nothing I cant handle and looks like everything is going to pan out.

There is one particular deal that lots of people are counting on, it closes 3 days after I get back from my honeymoon and its stacked 4 high. In the Real Estate world that means that its one of four closing taking place that day. I helped my clients sell their house and with the money from the closing they are buying another house in Saint Mathews (good choice on their parts). The people who owned the home in Saint Mathews are buying another house with the proceeds from that sell. Not to mention those people are also buying a house with their proceeds. Its a good thing my clients choose me to work all this out for them. Can you imagine what it would be like if they didn't have an agent! Crazy!

The Last of Home Buyer Tax Rebates?

I have formed a habit that I'm kind of proud of, I have been waking up in the mornings and reading the Wall Street Journal online. I'm learning all sorts of great things, the most recent article that has sparked my interest is one about a possible additional tax rebate.

The National Association of Home Builders and Realtors have been lobbying congress for additional tax relief to bounce the economy and the housing market back to were it should be. There idea is to give a tax rebate to anyone who buys a home no matter what. I could see this happening because it seems to me like a lot of these first time home buyers are on the fence afraid of buying a home in an unstable economy. They are worried they are going to purchase a home and it will deprecate. I also think the recent rise in interest rates has drove them away from purchasing. A new tax bill to encourage everyone to buying a home would be just what the doctor order. Hopefully we will see something like this in the near future.

Deal of the week.

Looks like the former owner is freshly evicted from this place... its kinda sad but one man's misfortune could be another man's gain. There is another unit listed just like this one for $112,000 its even on the same street. It wont last long so call if you would like a showing.

http://glarmls.com/GLARReports/ListitLib/report_builder.aspx?category=1&r1=QQTq!LsL0YrTs7IZ73_riF&m1=Xd9Y4YDZg&footer=4956574850&maillog_id=8113470747

Have you missed the bus?

Rates just went up an enormous amount... my lender says that he has never seen them jump this high in one day. This really sucks for all of the people out there that are first time home buyers that have been dragging their feet. My suggestion is get a property in mind and if rates drop down to anywhere near 5% then they should jump on it. I have been seeing this coming for some time now. Hopefully rates will fall back down... I will keep you guys informed if the do so.

Todays News In Real Estate

Wall Street Journal
http://online.wsj.com/article/SB124381108186970343.html
Realtor.com, Increase in Pending Sales
http://www.realtor.org/rmonews_and_commentary/rmonews

Time Running out for first time home buyers

The video below explains why you might want to start looking for your first home. Some of the main points are; November 30 is the deadline to get the $8,000 tax credit, interest rates are still low, and the market is full of choices. But take a look for yourself.

http://online.wsj.com/video/clock-is-ticking-for-first-time-home-buyers/14C00BED-8BE2-4D25-AF49-C3802F7BB5CB.html

Recession Proof

Although we are in a slow market and the media is giving everyone a gloom and doom perspective about the housing industry. I can assure you of two things. First Louisville isn't as bad as some of the major markets, because there was never really a big market boom here. So our market is nearly as flooded with listings like Florida, Nevada, Arizona and California. Second there are certain parts of Louisville that are somewhat recession proof. If your inside of the Waterson freeway then you really have nothing to worry about. Houses there are selling fast and I think the trend is leading people to move closer towards the city instead of the suburbs. So if your looking to purchase a home and want a safe bet you may want to consider moving more inward instead of outward.

The Signs are a good Sign!

Just got back from the realtor store to buy some open house signs and other marketing tools. They were completely sold out of sold signs and sale pending signs. The person who runs the store said they are a hot item lately and she has to constantly order more. Maybe the signs are another sign the market is starting to pick up!

Selling a Condo?

If so make sure its in mint condition. If its not you may have a hard time selling your home, its been my experience that when people buy condos they don't go for the one with the most potential or the biggest. They go for the nicest. It's my belief the entire reason people purchase a condo is because they want maintenance free living. So if a potential buyer walks into a condo they are immediately assessing how much work its going to take to them to make this place to their liking. The one with the less work involved usually wins.

Stupid Banks

Just got a deal done with a bank owned property were there were multiple offers. Wanted to share this with you readers so you can learn from this deal. A lot of times these bank owned properties are really good deals and they get multiple offers and they can some times sell for more than what they are offered at. In this case after the property had been on the market for less then 24 hours they has already gotten an offer before we could submit ours. So we went in several thousand dollars above the asking price to ensure that we won the bid. A few days goes by and the bank counters with best and highest offer. They always do this and it's lame, I hate it. So we stayed right were we were and ended up getting the property. So just goes to show being aggressive and not backing down will sometimes get you exactly what you want.

Getting Deals Done!!

Just want to follow up my last post with some good news. I was able to get a deal done this week for a guy on a duplex that should be an absolute cash cow. He purchased it for about $1,000 under the assessed value and should be able to rent it for $900 a month. Given the place is in really bad shape in takes a special person (very handy one) to make a deal like this work. The place has about $45,000 worth of damage if you were to contract the work out... but if you can do it yourself the price tag would be about $15,000. Just goes to show that there are some great deals out there and if your capable of buying then you should.

Rental Houses

If you feel unsure about stocks and bonds and investing your money on wall street. A great alternative is to take advantage of the poor housing market and low rates and get yourself a rental house. I have a rental house that the tenants pay mortgage on every month and it is a blessing to have around tax season. Between that home and my current residence I was able to write off over $20,000 in interest payments. The best news is after 30 years you have a house that's paid for and a nice chunk of change to go towards your retirement. All you need for an investment loan is 10% down. There are plenty off opportunities for people to purchase small homes and condos for very low amounts. Its something you may want to put some thought into.

Market Picking Up?

The market could be picking up I have been showing houses and fielding phone calls at the same frequency as I was this time last year. The only problem is I have far less closing scheduled, but one has to feel like this market is heading in the right direction. With the tax credit and with rates teetering between 4.75 and 4.85 it seems like things will break lose soon and Louisville Kentucky will be back to business as usual.

First Time Home Buyers Seminar

Hey gang! Just wanted to let you know that I will be having a first time home buyers seminar this Saturday the 11th starting at 4:00. It will be held at Rainey Jones and Shaw realtors a block east of the Hurstborne Lane, Shelbyville RD intersection the address is 99000 Shelbyville Rd. I will be going over what to expect in a Real Estate contract and you can learn how to get your first time home buyers tax credit up front. Also everyone who attends will be getting $500 off their closing cost and $50 off their home inspection. Hope to see you all there.

First Time Home Buyers Tax Credit

I have got to be honest, I wasn't a supporter of President Obama during his campaign, but now the guy has won me over and he seems to be getting our Country on the right track. I think he is one of the better speakers I've heard in my lifetime and he seems to be following in the footstep of other Presidents who have inherited a mess. Franklin D Roosevelt turned the Country around by creating government jobs through various projects such as building public structures and paving new roads. Obama is doing something similar but using technology and new energy resources to create the jobs. What I'm most thrilled about is the $8,000 tax credit for first time home buyers. This plan is different from the 2008 recover plan were first time home buyers were issued a tax credit that they had to pay back over 15 years. Which made it really more like a 15 year interest free loan. The new plan is for a tax credit of 10% of the homes purchase price up to $8,000 which you never have to pay back as long as you live in that home for 3 years. I'm really hopping that this will push people who are thinking about buying into action and the market becomes stable again. Lets all hope and pray that President Obama keeps making good decisions like this.

Deal of the week.

This home has a assessed value of $185,000 according to Oldham Co. PVA its going to sell fast and probably going to sell for more than the list price. Its listed now for $108,000 and has 3 beds and 2 baths with 1,555sqft. Its in Lockwood estates in Crestwood where a home has never sold for this amount going all the way back to the mid 1990's. Call for any other details or for a showing. Someone needs to jump on this one fast!

Deal of the week.

http://glarmls.com/GLARReports/ListitLib/report_builder.aspx?category=1&r1=QQTq!LsL0YrTs7IZ73_riF&m1=mmVN!Fp83&footer=4956574850&maillog_id=8112270845


This one is a short sale and has been on the market for 265 days, which tales me it's subject to a low ball offer. Combine that with the fact that it's list price is $50,000 less than what they paid for it just three years ago and this makes for a really good deal!

Craig's List

Just put my listings up on Craig's List and got a contact on a property I've only had one inquiry on since I first listed it. I tried this after a client (Dave Levee) sugested so, and I noticed another client wanted to view multiple homes that she had found on the site. Once I added Craig's List to my the websites I use to promote homes it brings me to about a dozen. So if you can't sell your home by yourself be sure to call me, I have many tools to get your home sold!