I'm a First Time Buyer. Where Do I Start?
Home buying can be intimidating and nerve wracking and rightly so. It's a complex process. However, there is hope for it to not be as overwhelming as all of that. How? By reading a list like that below to start you on your road to home ownership.
1. Find a professional and experienced Realtor to work with. This person will be your "Buyer's Agent". Your Realtor will be a guide and resource to what, when and how to do things. He or she will also manage all of the contracts, deadlines and details for you, making life that much easier.
2. Get pre-approval for a mortgage with a lender of your choice. This is best done face to face after interviewing a few of them by phone or through email. Your Realtor will suggest a few lenders for you to try from their networking and connections as well as coach you on the right questions to ask.
3. Pick a neighborhood or community you like that is within your price range. Also consider factors such as commuting time, schools and proximity to daily needs. Your Realtor will help you with information on subdivisions and price ranges, but be sure to do some independent research by driving around on your own time to compare and decide.
4. Now it's time to choose. Your Realtor will provide details on all available homes in your area within your budget. After you pick your favorites, your Realtor...
Remember this number – 332. That’s the number of homes our Sokoler medley team sold last year. Yet, despite the enormous success there are still frustrations.
There were a small number of homes that never sold. This may sound ridiculous to you but I did lose sleep wondering what was wrong, why didn’t those homes sell. We’ve teamed up with 1000 top agents around the country through active rain to study why a home doesn’t sell. If you’re thinking about selling a home this year the following information is very important to you and could mean the difference between listing and selling your home and just listing your home.
As top agents we found the number one problem to be over pricing your home. It happens and 77% of the cases where a home doesn’t sell and we’ve seen sellers overprice a listing because they need to get money out of it. Yet because of new appraisal regulations there’s no way a seller will get anywhere close to their asking price.
It’s a simple fact if homes in your neighborhood are selling for less don’t expect your home to sell for more. In 34% of the cases were a home doesn’t sell its because the seller has made it difficult for the home to be shown. Selling a house is a job and it can admittedly get tiresome. But buyers and their agents are on a schedule, their goal is to see as many homes in a day to make a decision. Often the homes are spread out over a section of the city. Doubling back to try to accommodate schedule just won’t work.
A buyer would rather skip a house that’s not available...
Should We Buy or Sell First in Louisville Real Estate?
Sometimes it happens. You are currently making mortgage payments on a home you either still have on the market but hasn't sold OR that you've only considered selling and then it happens. You see your dream house in your ideal neighborhood is for sale and at a stellar price! What do you do?
It is possible to buy a new house before your old one sells, but unless you have serious income, it is risky business and not recommended. Here are some things to look at when considering if buying before selling is a smart move for you:
Benefits of Buying First
It's true that most people are in no position to buy before selling but it's still worth looking at the benefits of doing so before making the ultimate decision. After all, there is a reason that such an idea is crossing your mind.
Everyone wants a great deal and many of us have an idea of our dream home. When an opportunity pops up that meets both of these requirements, how can you not consider it?! The perks are that you can see yourself being perfectly happy living out your days in this home and you can see how much money you'll net when do actually sell your current home. Plus, how nice will it be to have a place to move into immediately once you do sell your current home?!
Then, there's also always the potential of carrying both homes, if you have the finances, and rent your first home out. This is an especially intriguing idea if the ...
Amazing! Jefferson County Schools open today when ice and snow cover streets and accidents are everywhere! Yet they closed schools earlier in the month because of the mere threat of bad weather. I would bet that the powers that control the school closings took heat for the pre-mature closing and decided to wait this one out.
Looking back now, poor choice don’t you think? Understandably it’s easy to say that now after the storm hit. To the school systems credit, the weather forecasters have a habit of calling for the sky to fall even when nothing happens. So is this a case of finding as reliable source for weather forecasting accurately?
Admittedly, some of these storms are difficult to predict. The sweeping storms coming across the U.S. have a tendency to change tracks and past models don’t hold up. Is it me, or is this winter worse than past years. I can remember years when we had several hit and miss storms but this year seams worse for some reason. Could we see a repeat of the Blizzard of 1994?
For more information about Louisville Real Estate or to work with the hardest working Real Estate Team in Louisville Kentucky “The Sokoler Medley Team” (AKA The Real Estate Bulldogs) at RE/MAX Properties East head to https://www.weselllouisville.com or call (502) 376-5483. With a decision this important, it’s nice to have a team of BULLDOGS on your side!
What can $300,000 Buy You in Louisville?
$300,000 can get you a lot in Louisville right now. In fact there are currently 12 listings at this price range and they include anything from two bedroom one bath floor plans to five bedroom four bath options.
If you're looking for something with commercial potential, you'll love this listing for a two bedroom and one bath in the heart of Shively. With 1537 square feet, this corner lot property actually consists of two homes. The main home is a well maintained brick ranch style and the second home has three rooms and utilities.
Have a boat? Check out this listing for a lake front chalet with boat slip. With 2272 square feet this four bedroom three bath beauty of a home has a finished basement and resides within a gated community.
If you like historic homes, you're going to want to visit this listing. This 3864 square foot home overlooks the Ohio River and has five bedrooms and four bathrooms. It was built in 1835, has four fireplaces and was previously known as The Ghent House Bed and Breakfast. Oh the stories these walls and halls could tell!
To get the most bang for your buck, see this listing...
Where is the News Media when you need them? One of the biggest Louisville stories of the past 2 years and the media is absent, missing, nowhere to be found!
Louisville Home Sales for the month of April were red hot. The number of homes going under contract in April was up 16 percent over the same period a year before. The number of homes sold during the same time period up almost 13 percent.
The reasons for the increase in Louisville Real Estate prices is simple:
- Interest rates are at an all time low. In fact last month after a slight rise above 5 percent on a 30 year fixed loan, the rate actually dropped.
- Home prices are starting to climb in some areas of Louisville. In fact the average sales price jumped from $155,406 in April of 2011 to $169,552 last month.
- There is a tremendous amount of pent up buying power! Let’s face it a number of buyers sitting on the fence waiting for the price of homes to bottom out. Well as of now, based on price trends, we have passed the bottom and heading up the hill.
How busy are we? We planed for 13 home sales in April. We hit 22 sales during the last week of April and carried another 5 over to May. We’ve sold several homes and condos in days not weeks or months.
If the media ever picks up on the story home sales may pick up even more. Thinking of selling? Let us know and we’ll put together a CMA to check the value of your
“Keep it on or take it off”? Our sellers always ask that question this time of year. “ Should we take our Louisville home off the market during the holidays and cold weather months”? Let’s face it; selling your home during the holiday season can be difficult. You need to keep the house show ready during the time you may be getting ready for a holiday party or when the kids are home from school and have made a mess.
As Louisville Realtor ranked 5th for volume of sales, my advice to our sellers is (unless you have no way to keep it clean) always leave the home on the market during the holiday season. Why? Because right now, even during the colder weather, there are people out there who really need to buy a piece of Louisville Real Estate. The fact that some sellers are advised to take their home off the market means a smaller inventory for those buyers to choose from there-by increasing the odds for your home to be chosen.
The advice is especially important this year with hundreds of Ford employees moving to the Louisville area for new jobs. In fact, we were out this weekend with a Ford employees looking at homes in several areas of town. We’ve also already sold a number of Louisville homes this month to those buyers who really need a home. I bet my clients are glad they took my advice to stay on the market.
Need to sell your home? The Medley Sokoler Team can help. We’re setting new records this year for home sales. See what makes us different at www.WeSellLouisville.com or...