Deal of the Week

This is a little one bedroom one bath Condo in Prospect on the Jefferson County side of the Oldham Jefferson line. Its in Hunting Creek and sets among homes that are 10 times as valuable as this home. So if you are single and paying rent STOP because this place is dirt cheap and when the economy turns around you should be able to make a pretty penny on it.

http://mikefogledealoftheweek.info/

Getting 2012 Started Off Right

As I look back on 2011 I feel like it was a year that me and Megan accomplished a lot through hard work and grit and paved the way for 2012 to be a great year for us. We never stopped to take a vacation so we could tackle some debt and pay cash for Megan's grad school and we should reap the benefits of that in 2012. This new years I am going to set the same business goals for myself as well as some other goals to keep me mentally focused and ready for success. Here they are:

1. Have a record Sales year.


2. Read 1 book per quarter


3. Take 2 or 3 vacations


4. Dress More Professionally


5. Get in better shape


6. Pray More


7. Purchase an investment property

$100 Down Deals of The Week!

This week's deal is a list of 7 homes that you can purchase for $100 down if you qualify for FHA financing. The are all HUD foreclosure homes that can be a great deal if you are in the market to move. There is one condo in Prospect that I love they usually sale in the $140s and this one is listed for $103,500. Check out all the great deals on this website: mikefogledealoftheweek.info

I love showing Farms!

In the past few months I have shown a variety of farms, I have shown a few Thoroughbred farms and some other great horse farms in Oldham and Shelby Counties with price tags up to $850,000. These farms had outstanding top notch barns with beautiful four board fences and gorgeous rolling fields. The homes on some these farms had all the amenities anyone could ask for in a luxury home.

Here lately I have been showing more affordable farms (about $2,500 per acre) that are set up for traditional farming purposes. Farms that you would grow; hay, soy beans, tobacco, corn or raise cattle. I have learned a lot from Roy Weeks at United Citizens Bank in Cambellsburg. Such as farm loans are given at a very low rate, my clients are looking at a 2% loan but are financing it over 40 years. Another things is the payments on a farm are structured way differently for instance you only make farm payments only once a year after you have sold your grain or livestock.

I still have both of these buyers and hope to close a deal with them soon but until then I will keep soaking up more and more information on this aspect of Real Estate and make myself even more of a diverse agent.

Getting Your Home Ready For The Market

In this Real Estate market making sure your home is ready for potential buyers is more important than ever. These days buyers can be really picky and often have the mind set if I'm going to buy a home that has to have work done to it, "I might as well buy a foreclosure or a short sale". What savvy sellers must do is walk the fine line of improving their home without over improving. The reality of today's market is your not going to get a positive return from updating investment. In this link from American Society of Appraisers you will find an appraiser's list of improvements and the rate of return you can expect to get return you can get from your investments. Surprisingly replacing your front door with a new steel door tops the list. In my opinion the most important thing you can do is remodel or update your kitchen although your only going to see about 73% of your money back on this investment, it's the most appealing portion of the home to buyers and can really help move your home.

Some suggestions I have to potential sellers is to not totally gut and redo any portion of your home, but rather enhance the existing aspects of your home in a cost efficient manner. For instance instead of tearing out your existing cabinets, paint them or put a new counter top on top of them, maybe replace the faucet. This way you get a new fresh look on a fraction of the budget of a total kitchen remodel. Another easy thing to do is replace your brass hardware throughout the home with a nice brush nickel or an antique finish. Here is another great link from ask.com who suggest that the first step to selling a home is letting go of your home and disassociate yourself with your home, your home is now a product and must be treated as one.

Great Investment Deal

I think that now may be the best time ever to jump into a Real Estate investment home than right now. Interest rates are extremely low accompany that with low home prices and you have a got a steady long term investment when purchase a rental home in this market. For instance you can get a investment loan on this house with 25% down at 5.125% interest rate, which would put your principle and interest payment at $265.44 a month. My estimates of the tax and insurance payment would be an extra $97.00 a month. The house is currently rented with a long term tenet who is paying $750.00 a month. So so here is the simple math.

Money Out of Pocket:

$16,250 Down Payment

$1,900 Closing Cost and Prepaids (Estimated)

= $18,200 out of pocket cost.

Monthly Financials:

$362. 44 Monthly Payment

$750.00 Rent

= $387.55 Monthly Profit

If you want additional information on the home click here.

New Listing

I've got a great new listing out in the country but still convenient to eastern Jefferson county and is only about a 35 minute drive to downtown. The home is just five years old and is custom built with many upgrades throughout. Check out the two links below for a virtual tour and the other for more information.

Virtual Tour

Home's Webpage