Furthermore, there is still a demand for home ownership. Right now, many young people are still living with parents, finishing up their degrees late, or renting with roommates. Since the job market has been fickle, they put off plans of home ownership, but this can all change at the drop of a hat – especially since rent rates are escalating so high in many urban centers. In most places, it is cheaper to buy real estate than to rent.

According to the Yahoo Real Estate Home Horizons survey, 64 percent of homeowners who suffered a foreclosure still dream of owning again. Also, 76 percent of Americans with no foreclosure experience say they feel home ownership is a good investment.

A December 2011 RE/MAX study found that real estate transactions increased 10.7 percent nationwide. Realtors predict that sales will increase another 29.3 percent in 2012 and that home prices will start to climb a little with the increased demand.

Real estate investors who get into the market now can take advantage of low housing prices and low mortgage rates. They can also negotiate reduced sales prices, additional repairs, home warranties, and seller-paid closing costs, since so many sellers have been waiting a long time to part with their properties.

There are of course other studies that also show 2012 to be the year of the rebound, and the NAR (National Association of Realtors) has even jumped on board.  But before everyone gets too happy and giddy, I want to remind you that there are plenty of indicators that while we might start rebounding this year, there will still be plenty of Louisville homes for sale on the market that won’t find a buyer, which means plenty of complaining owners!

However, as interesting as I find yard signs, many sellers, and apparently, many Realtors, have given very little thought to them.  Which brings me to my main question, “What is the point of a yard sign?”

Is the sign designed to help the paying client, the seller?  Isn’t this what you would expect, if you pay someone a lot of money to sell something for you, wouldn’t it be fair to expect that person’s marketing to focus around the very same product you are paying them to sell?

Or are most signs that you see sitting in the front yard touting the agents themselves?  And their brokers too, you can’t forget about the brokers!

Take a look next time you are out driving and count them up.  How many signs are actually trying to sell the house they are in front of, and how many are geared towards generating calls to the agent or brokerage and have very little to nothing to do with the client’s property?

My approach, and one of the reasons my clients seem to like me, at least a little bit, is that I order a personalized sign for each single family home that I sell.  Well, most of my clients.  There are some homes that either sell too fast to get a sign ordered, or some clients ask me not to.  But back to my point, my yard signs go above and beyond to ensure that any potential buyer who happens by the property can get the appropriate information about the house, in whatever format they most desire.

On my signs, one of which I have pictured above, I try to hit several different marketing tools.  First, I include an interior picture or two, so that drivers can see what kind of finish is available in the home, so they can see if they are even remotely interested, without having to pull up the MLS listing or contact a Realtor.  I also include a personalized url, which will redirect to my website, where I have a dedicated page to that property with video, pictures, maps and pertinent info.

I also clearly spell out the basics of the house, how big, how many bedrooms, etc… so that my clients and I aren’t bothered by potential buyers who want to set up an appointment to see the house, but really have no interest in a 4 bedroom, for instance.  Let’s start weeding out the lookers right away!  And text messaging is available, for those that prefer that method, with pictures and a mobile website.

All in all, I try to make my yard signs work for the seller.  I’m not saying I think they are perfect, but I think at the very least, I am trying to serve my clients.  Who, or what, are most signs serving?  It appears, without naming names, that most signs are more concerned with the larger brand awareness of the Brokerage than they are with actually trying to sell the property.

I’m just not comfortable with that approach, and I will continue to spend the extra bucks necessary to properly accomplish the job that I was hired to do.

Here are a few common ways to negotiate with sellers following home inspections:

Repairs: If home inspections drum up any major defects in the heating / air conditioning system, electrical wiring, plumbing, home structure, or roofing, you can often bargain the seller down  in price, request that these deficiencies be corrected as a condition of the sale, or negotiate a repair “allowance.”

Paint & Flooring: While home inspections will call them “cosmetic” defects, you may find the hideous floor or paint condition is a pressing issue. You imagine that prior to moving in, you’ll need to repaint or replace the floor right away. Some sellers will knock off $3,000 to $10,000 to let you cover this on your own. In other cases, sellers may be willing to hire contractors or do it themselves before you sign on the dotted line.

Remodeling: Sometimes you can negotiate with sellers to get the basement refinished or an unattractive portion of the house remodeled. This is true of new construction homes more so than existing market properties. However, home inspections occasionally turn up evidence of “wet basements” that you are better off having fixed before you have flood or mold issues.

Appliances: Not many people like to move into a home that has no base appliances or, worse yet, heavy and broken appliances. If it’s important to you, consider negotiating to get a refrigerator, washer and dryer, stove with exhaust fan, or a dishwasher if it’s not already included.

Closing Costs: Nowadays, many sellers are paying closing costs for their first time home buyers. After all, it is a buyer’s market right now. Even buyers who are purchasing their second, third or fourth homes can sometimes negotiate to have closing costs covered, especially if home inspections reveal that substantial work needs to be done or if the house has been on the market a while.

It’s important to keep in mind that it’s not always better to have sellers take care of the items listed on home inspections. What you might spend $6,000 on to “get it done right,” a seller might call in a buddy who will do the renovations for a couple hundred dollars or a case of beer. There are few things worse than a horribly inadequate repair. Ideally, you will produce a work order that includes: what will be fixed, which contractor will fix it, and what they will charge. That way, you can be sure there are no corners being cut just to sell you the house. More often than not, it’s much easier to negotiate the price of the house down based on home inspections results and tackle the repairs yourself.

For any other questions about home inspections that you may have, or to see a complete list of Louisville homes for sale, please make sure to contact us right away!

Every other year saw a smaller percentage of Louisville homes for sale actually find a buyer and make it all the way to the closing attorney successfully!  Since 2005 in fact, when we divide the number of new listings hitting the market in the first quarter of each year, by the number of properties marked “SOLD” in the same time frame, we see a decreasing percentage, year to year, until we get to 2010, the lowest value on the graph, at just over 31% of all listings being sold!

First and foremost, this strikes me as a pretty compelling argument at how ineffective the MLS is as a selling tool, only 1/3 of all homes being listed actually sold!  The MLS is great for sharing information, but as a sales tool?  Not so much.  Don’t let any Realtor tell you that the MLS is the bulk of their marketing, it isn’t enough and isn’t an effective marketing tool.

Second, keep in mind that some of these listings are going to be the same property, listed over and over.  For instance, if a seller speaks with a Realtor who tells them that they should list their house at $500,000 and it sits there for 6 months without any buyers, and then they take it off the market for awhile and try again at, with the same Realtor at $450,000 for two more months.  Then they hire a new agent and sell it in one week when priced at $399,900.  In that example, that would count as three listings and one sale.

Last thought:  I have been hearing from a lot of people that they think this year “feels” like real estate is selling better, but get confused or don’t believe me when I tell them that historically speaking, we are still selling at pretty low levels.  The reason sellers are more optimistic today and why people “feel” like the market is doing better is because a higher percentage of homes are selling.  They are hearing about more friends selling, or more accurately, they are likely not hearing as many negative stories about people not being able to get their home sold!  This lack of negativity is all based upon our current percentage of sales being at its highest level since 2005.

First of all, try not to take it personal when defects are listed on the inspection report. The truth is, even brand new construction home inspections often turn up a handful of items. You may see items like stained carpeting, cracked tiles, torn screens, discolored walls, or cigarette smoke odor. The contract will list items that are purely cosmetic, as well as items that may warranty a repair or replacement.

Do not look at the home inspections report as a comprehensive “To Do List.” As a seller, you are not obligated to repair the conditions listed on the report or produce a property in perfect move-in condition. Most buyers are willing to forgo a cracked tile or a missing bug screen to get a home in otherwise ideal shape. Items that are commonly repaired before selling include: front door, wall paint, roofing, gutter caulking, wall holes, vinyl flooring, toilet seals, leaky faucets, dinged baseboards, and scratched cabinets. It’s a good idea to look into pre-sale home inspections so there are no “surprises” when you have a buyer waiting on the line.

If you have any other questions or concerns about selling Louisville homes, please don’t hesitate to contact me and I will be happy to help out any way that I can.

So far in the first three months this year, the local Board of Realtors reports that 2,127 Louisville homes sold and closed, the highest total since 2009.  That would normally be good news, indicating that the market is getting back to a more normal level than we seen over the past few years.  But taking a broader view, looking past just the immediate past, we see that 2012 actually scores in the bottom half of the past 13 years!

A graph that goes back this far allows us to see trends that can’t be seen in most data Realtors provide, simply year over year.  For instance, between 2001 and 2007, the number of homes that sold each year increased before dropping off drastically in 2008 and then hitting a low of only 1,812 units in 2009.

So let’s put this all into perspective.  We are basically looking at two separate markets, 2007 and before and then 2009 going forward.  We will just chalk 2008 up as a transition year for Louisville homes for sale.   The 2007 market is the one that was marked by too many people buying homes, especially people who weren’t even properly qualified for decent loans.  The second market, 2009 going forward, has had to recover from the brutal slide endured after the end of the previous market, and it looks like we might finally be turning the corner and getting to a point that more closely resembles a neutral market.

But it’s going to take a while, we aren’t there yet.

Take away the stamp from your home if you just want people to go ahead and let themselves inside your house. Get rid of personal objects and pictures. A buyer doesn’t really want to see your family all over the house, they’d rather see their own. Also, you will want to de-clutter the home as you will want the home to show off its space and not your belongings.

When selecting a Louisville real estate agent, pick one who does not price your home too low or too high. If an agent quotes you a value towards the top of the range, they might be doing so simply to lure you in as a client. An agent who undervalues your property might not have your best interest in mind and will end up costing you money.

Try to see if you can get you house involved in a bidding war. Set a price just below what properties are sold for in your neighborhood to attract many buyers. If you can get buyers to engage in a bidding war, you’ll probably sell your home for a much higher price.

If you’re a dog owner that’s selling your home, then start putting your dog out more often to help clear up any odors. Even tiny dogs have the ability to exude an odor, but you may be so used to the scent that you no longer notice it. Carpet freshener can absorb some of the odor, but too much artificial scent can be unpleasant as well for an outsider. Even better, have your carpets and large rugs professionally shampooed before potential buyers view the home. When a home smells fresh, any potential buyers can feel welcomed and impressed by this.

When you are getting your house ready to go on the market, paint the interior to freshen it up. Most people can do this themselves; in addition, you shouldn’t have to spend a lot of money to paint the walls. A fresh coat of paint can make walls look new again. Be sure to use a neutral tone such as cream or off-white.

Make sure all plumbing fixtures give off a shiny, new appearance. As a potential buyer examines your home, they will probably turn the water on. If your plumbing fixtures appear old or seem worn, buyers will notice and be turned off from buying your home. Keep your water fixtures shined and looking as new as possible. If they just won’t come clean, or are broken, replace them.

There’s a lot of complexity in Louisville homes for sale, and it’s only when you learn the right formula that you’re able to see real financial success. Lots of money can be made by you, and you can build an excellent career. This can all be achieved by beginning with the previous tips in selling Louisville real estate.

40204 is shown in black, 40205 in gold and all of Louisville is shown in green.  For clarification’s sake, I am using all zip codes in Jefferson County as “Louisville” so these numbers do not include homes in the surrounding counties.  All three areas are down since this time of year in 2009, with 40205 seeing the least amount of change, down from an approximate value of $260,000 to our current measurement of $255,000, about only a 2% drop, if even that much.

The other two areas saw a bigger drop, both in actual dollars and as a percentage.  Louisville’s median asking price in March of ’09 sat at $155,000, and now rests at $140,000, a loss of 15%, seven times as bad as what the Louisville Highlands real estate market in 40205 saw.  And what about 40204?  Three years ago, the median asking price was $171,000, rose all the way up to $240,000 in late summer before falling to more normal levels and now measures $154,000 after a healthy little run up in the past few weeks.  Do the math and we find that to be a 10% drop, five times worse than 40205 but only 2/3 of the drop seen by our fair city of Louisville.

One other note when looking at this graph, our current values look much better when compared to the brief stint on the graph above from October and November of 2010 when prices really plunged, hitting a low of $400,000 or even just a bit below that.

As prices are on the rise, let’s also take a look at how many homes for sale in Prospect Ky there have been on the market at any given time, and try to determine any relationship between the two factors.

Wow, well look at that, there certainly seems to be some sort of connection, or perhaps one of the biggest coincidences ever seen in the local real estate markets!  Since March of 2010 there has been a pretty well defined drop in the number of home owners looking for a buyer, dropping from 250 units to our more recent measurement of 155 or so, a drop of almost 100 dwellings!  This seems to be pretty good news to me, for the overall health of the market, that helps us get into a better balance between the number of people looking to buy a home and the number of people looking to sell.

If you are thinking of buying a foreclosure, it’s a good idea to use a reputable real estate attorney. Short sales can be extremely time consuming and complicated, so be sure to get professional guidance. Attorneys are expensive, but if something goes wrong, hiring one could save thousands of dollars.

Be moderate in your approach when considering a purchase of real estate property. Lots of people try to be overly aggressive only to lose out in the end. You should be very adamant about the things you want, but you should let your lawyer negotiate for you.

Hire professional inspectors to inspect the house that you are planning to buy. While it will cost you, don’t have a friend or relative do it, since something can be missed and you’re left with no recourse.

Real estate agents should keep in contact with former clients over the holidays and on the anniversaries of their home-buying. When they hear from you, they will remember how much you helped them out. End your message by reminding them you work on a referral basis, and ask them if they would be willing to refer you to their friends.

Look for programs that assist with down payments. There are quite a few available, and there is sure to be one that is just right for you. This coupled with having the seller pay closing costs will drastically lower the amount needed to save before purchasing a home.

Reduced prices usually go together with lots of repairs and updates. This allows you to save money up-front, and work on the house at your own rate over an extended period of time. You can use the money you saved to improve the home in a way that truly suits you. At the same time those improvements will likewise increase the value of your home. Take the potential of a property in consideration before letting the drawback discourage you. An awesome home can often be coaxed from the shadows of superficial ugliness.

You should make certain that you have funds available to meet the required minimum down payment set by your mortgage company. If you do not, you may be stuck paying more through PMI, or Private Mortgage Insurance. This can really mount up the extra dollars you would have to earn monthly in order to convince a bank that you can afford the mortgage.

Investing in real estate will probably be the largest financial investment you are going to make. Hopefully, the tips that have been covered here, have given you some of the tools you need to be more prepared to make the decision to buy real estate.

Thanks for visiting this website devoted to Louisville homes and reading our articles and browsing all of the available houses in this area. For a bigger collection of blog posts as well as weekly analysis of city real estate patterns, please feel free to visit our Louisville real estate site.

It is important to find your own professionals when purchasing a house. It may seem okay to utilize those people that work for the seller, such as the appraiser, but don’t do it; hire your own. No one likes spending money on something they could get for free. Nevertheless, you are safer in the long run if you find people you know you can trust to protect your interests. Spending a little money now can save you a lot of money in the end.

Be sure to save up the down payment your mortgage loan servicing company requires. The alternative to a proper down payment is PMI, or private mortgage insurance. This is a hefty addition to your monthly mortgage payments that you have to pay to your lender. You can avoid it by demonstrating your financial security by meeting the minimum down payment.

When you decide to invest in real estate, stay focused on the goals you’ve set. You have a goal in mind, and likely a target date for recouping your investment. If the investment that you’re considering doesn’t fit in with t he goals that you’ve set, don’t do it. Most property owners don’t enure their needs are handled, and they lose out on an investment.

If buying a home that has a beautiful view is important to you, be careful not to spend more than you should. Even if you love the view, and you want to sell it later on, the buyer might not agree. Subsequently it is best to only pay for the view because you want to.

If possible, don’t purchase a home that is near a busy road. Don’t purchase a bargain property that will only earn you a minimal amount of rental income. Although you may not mind the noise in this location, you will have a hard time reselling the house in the future.

Thanks to the Internet, it is easy to research a home and a neighborhood without stepping foot outside your current home. There is a wealth of information available on the Internet, even for small cities and towns. Consider the salary margins, population and unemployment rate of your desired location before purchasing a house there so you ensure that you will love where you live.

Follow the tips you read to help you successfully buy your first home. By following them, you can make sure you don’t commit common mistakes. Good luck with your search and we hope you love your purchase!

Thank you for visiting this blog dedicated to Louisville real estate and reading our articles and viewing all of the available homes for sale in this community. For a bigger collection of posts as well as weekly updates of community real estate trends, please feel free to visit our Louisville real estate website.

Make sure you stay connected with other investors like yourself. There will be a steady supply of properties that are available, but each investor will have a preference for particular types of property. Keeping your ear to the ground is a great way to pick up a diamond in the rough that others have not yet gotten their hands on.

When you are plunging into real estate, make sure you have clear goals in mind. Determine what the time horizon is for your goals. If your goals are not met, look for another investment. Many people get swayed by non-essential factors, lose sight of their original goals and wind up with a poor, money-losing investment.

It is important to clarify with the landlord before signing the lease, who is responsible for the upkeep of any garden on the property. Some rentals require the tenant to perform yard duties. Other rentals will have this service done for you, and it will be reflected in your monthly payments.

Each real estate agent needs to contact their former clients around the holidays or their purchase date anniversaries. When they hear from you, they will be reminded of how much you helped them when they were purchasing their home. Give them a friendly reminder that you make money through referrals, so you would be pleased if they could mention your name to others.

Before considering a property, you should perform a search for registered sex offenders in the neighborhood and surrounding areas. The real estate agent and seller do not have any motivation or requirement to provide this information to you voluntarily. Ask people around the neighborhood, and verify the information with your own research using reliable resources.

Educate yourself thoroughly on mortgage loan terms if you are in the market to purchase a home. When you understand how your mortgage term affects your monthly payments, and how it will impact the total cost of your loan, you will minimize any future confusion.

Take somebody along with you that knows what they are doing to check out the house for things that you might not see or think to check. Do this even if you are buying the home as a single individual. They may see faults within the property that you overlook due to emotions. Tell them to ask their realtor some questions.

Those who are wise and jump into this swirling market should follow the above article closely. It will help you avoid trouble and walk away with real estate that is under-priced and growing constantly in value. The key is to purchase the property and hold until the time is right before you make your big move.

Thanks for visiting this site devoted to Louisville homes and checking out our articles and browsing all of the available homes for sale in this community. For a larger collection of blog posts as well as frequent analysis of city real estate data, please feel free to visit our Louisville homes for sale blog.

That is exactly what I have done here, graphing this most recent past 12 months in black, and the preceding twelve months are graphed in gold.  As you can see, the two crossed paths a few different times, meaning that at some points this past year, our current market seemed to be in better shape for St Matthews homes for sale in Louisville, and other times, it looked as if we were in worse shape than before.  As an example, look at the far right of the chart, our most recent measurement period, just last week.  Our current median asking price of active homes for sale in 40207 seems to be right at $277,000, about $4,000 less than it was this time in 2011.  But back in December of January, our current year’s numbers were actually tracking ahead of the previous year’s.

Let’s look at one more chart before wrapping up.  This one shows the MAI, or Median Action Index for 40207, which is a composite based statistic showing the overall health of the local market, with 30 representing a balanced market, and everything below indicating a buyer’s market.  Again, the gold colored line shows the state of homes for sale in St Matthews Louisville for the year preceding our current one.  The further below 30, the further the market is in buyer’s market territory, so it is a nice change to see our current values edging up higher and showing up significantly closer to a balanced market than we were at this time last year!

Houses that need some “tender loving care” are priced less. This can be a money-saver in purchasing the home, with the ability to make improvements as time allows. You are increasing the value of your home with each improvement and have the flexibility to design it the way you want. So always consider a home’s potential, rather than just focusing on the negatives that you can see. Your dream house could be hiding beneath some dingy carpet and outdated wallpaper.

Prior to purchasing any real estate, you first need to have a firm understanding of what a mortgage loan is and its many terms and conditions. Make sure you have a solid grasp of how the terms of a mortgage can affect your mortgage payment and the total price you are going to pay for the home. If these things make sense to you now, it will prevent confusion later.

Real estate agents would do well to reach out to former clients during the holiday season or the anniversary of a purchase date. By keeping in contact with them, they will remember how helpful you were when they were buying their home. When you are done with your greeting, make sure they know that you are working as a referral and would love for them to recommend you to anyone they know.

Always hire an inspector to look at any property that you want to purchase. If you don’t you could wind up with a home that will need a lot of repairs. Dealing with unforeseen repairs can be expensive and some could be so big that you will have to find somewhere else to live while repairs are being done.

Get data on your local housing market. Find out how many homes in your area face foreclosure as well as how long it takes to sell an average house and the price you can expect to pay for your new house. You can do a lot of this type of research online. Websites that give general information about your city of residence, such as city-data.com, are especially helpful when you’re trying to learn more about the local real estate market. Also, find out how much money people make, how hard it is to find a job, and who employs local workers. The truth is, if the house is nice and is in a good neighborhood, it can overcome some of neutral or negative traits of a community.

Utilizing the above tips will help make buying a home a piece of cake. It will be easier to make good decisions if you know what to expect.

Thank you for visiting this site devoted to Louisville real estate and checking out our articles and viewing all of the available properties in this community. For a bigger collection of posts as well as frequent analysis of community market patterns, please make sure to visit our Louisville real estate blog.

When you are seeking a new home, be sure that amenities such as parking are adequate to your needs. This should be an important consideration in the house you choose, especially if you are not offered an attached garage or driveway. Without plenty of parking spaces near your home, you may end up with a spot that will have you walking far.

When you are experiencing turmoil in your job, be cautious about buying real estate. Once your signature is on mortgage documents, you will be responsible for your payments, regardless of changes in your personal life. If your work prospects are uncertain, at least have enough in the bank to cover several months of payments.

When you are trying to make a deal on real estate, do it moderately. Lots of people try to be overly aggressive only to lose out in the end. Be clear and firm about what you want but let your lawyer or realtor do the negotiation for you.

If you already have an approval letter, a seller will be more interested in your offer. Holding off on a mortgage approval lengthens any buying process and extending that can grow expensive.

If you have kids, you need to make sure there is enough room for the family. Pay attention to safety too, especially if the home you are looking at has stairs or a swimming pool. You are more likely to buy a safer home if you purchase from parents who raised kids there.

So you want to find a place to purchase, but firstly you have to have a real estate agent who’s qualified. Someone who is trustworthy is most preferable. Look for an agent with a lot of experience and solid references. Always conduct sufficient research to identify those agents most dedicated to customer service.

Many calculators are available online that allow you to calculate what you can pay for a house. This handy tool asks you to input your income, debts, and living expenses. The result will be a figure approximating what you can reasonably afford, without overextending your finances.

After reading this article, you can probably understand why this career and endeavor has become very popular. There are multiple methods to do it. Additionally, there is a wealth of information to learn the most effective methods to succeed. Keep these tips in mind, and they will help you jumpstart your career in real estate.

Thank you for stopping by this blog devoted to Louisville homes for sale and checking out our posts and browsing all of the available houses in this area. For a larger collection of posts as well as frequent reviews of local market patterns, please feel free to visit our Louisville homes for sale website.