The Fall Housing Market

Most Real Estate transactions are done during the summer or spring months but year in and year out some of my best months have been in the fall. I really like having a hand full or so of buyers during this time of the year. It seems like they sacrifice a little in the area of selection but their is less competition of people competing for houses. So if your thinking of waiting for Spring to hit before you enter the housing market you may want to reconsider.

Monday Morning's Deal of the Week.

I have dedicated a webpage just to list me deal of the week. I will be updating it every Monday morning so be sure to check it out at least once a week because these homes typically sale fast. This home is in Crestwood and is only $64,900 its a great buy in a great location. If any of you are buying or selling or know of anyone I would love the chance to work with them just give me a call on my cell: 502-551-9396.

The Price is Right!!

To make myself a better Realtor I have taken up the habit of doing more reading, I'm now reading through the Book Shift. Its all about how a Realtor should take action during a downward shift in the housing market. Something that I have always known from the very start of my Real Estate career is that over priced homes are extremely difficult to sale this fact is reiterated throughout an entire chapter of the book. One point that it brings up is the price reduction effect which is basically were sellers want to start off high with their price and if they have to slowly drop their prices over time. The problem with that is while the sellers are "testing the market" they are missing out on valuable buyers and waisting time on the market.

I often work with buyers and as we are shopping and looking at homes one thing that is always considered when viewing a home is how much time it has been on the market. Anytime I tell them that a home has been on the market say 100 days or more one of the two following questions is asked almost every time. 1.) Whats wrong with it? 2.) So that means they must be desperate for an offer? In the contrary if I tell a buyer that a home has been on the market for a very short amount of time they usually ask or I tell them that it may be kind of hard for us to get them off their price. The graph below is an example of how overpricing your home can cost you major dollars over the long run.

Deal of the Week

This deal has been on the market for a while now and I'm not real sure why no one has jumped on it yet, but I love the neighborhood. It as mature trees and one of the toughest golf courses around. It's in Shelby County in Persimmon Ridge which is on the border is minutes from the Oldham and Jefferson County borders. If you or anyone you know are looking in this price range I think we should go check it out.... just give me a call!! The owners are selling it for much less then they purchased it just a short time ago. Check out all the details on my new website below:

http://www.mikefogledealoftheweek.info/