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buyers: How do Buyers Agents get paid? - 07/15/09 10:06 PM
The Question As a result of low interest rates, high inventory, and tax incentives, I have been working with a lot of first-time home buyers in Louisville recently. During our initial meeting, I always try to explain the Agency Relationship and how I will represent the buyers from this point forward. I also give insight into the process of buying a home and try to answer any questions they may have.
One question that is always on their minds is ..."How do we pay you?"
Short Answer You Don't.
Long Answer A typical Kentucky real estate transaction works as follows. A seller places his or her for sale … (9 comments)
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buyers: How the $8000 Tax Credit applies to First Time Home buyers in Louisville - 02/26/09 12:20 AM
Background As a result of the 2009 Economic Stimulus Package, Louisville first time home buyers have an opportunity to purchase a home and get FREE money. In order to stimulate the housing market, the House and Senate improved the $7500 refundable tax credit by increasing the dollar amount to $8,000 and eliminating the repayment requirement.
Definitions - US Government Dictionary First Time Home buyer
Anyone who has not owned a primary residence home in the last 3 years. If you had 47 Louisville homes earlier in you life, but sold them all prior to 2006 and rented since then, you are a First … (6 comments)
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buyers: Price Doesn't Matter to Buyers...(at Least it Shouldn't) - 12/08/08 09:34 AM
I'll give you a moment to pick yourself off the floor and calm down....
Ok, now let me explain. I admit that the title was a bit sensationalist, but in essence it is correct for anyone financing a real estate purchase.
Let's say you are ready to buy a Louisville or Bullitt County Home. You have already taken the advice of a local real estate expert and gotten a pre-approved letter from a reputable lender. The letter states that you are pre-approved for a loan of $200,000 at 6% with 5% down. So, does this mean that you can actually buy … (21 comments)
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buyers: Bullitt County Kentucky (KY) Real Estate Market Report ~ October 2008 - 11/24/08 09:27 PM
Bullitt County Real Estate Market Report- This report analyzes property sales trends for Bullitt County homes over the last few months and versus the same time period last year. The report includes number of homes sold, average listing price, average sales price, days on market (DOM), and current inventory.
Bullitt County encompasses the primary cities of Shepherdsville, Mt Washington, and Lebanon Junction. Home sales from the smaller cities of Brooks, Fox Chase, Hebron Estates, Hillview, Hunter's Hollow, Pioneer Village and Zoneton are also included, but these are generally listed as Shepherdsville homes in the MLS.
Comments and Analysis For the second month in a row, the year-over-year … (3 comments)
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buyers: Bullitt County Kentucky (KY) Real Estate Market Report ~ September 2008 - 10/28/08 02:56 PM
Bullitt County Real Estate Market Report- This report analyzes property sales trends for Bullitt County homes over the last few months and versus the same time period last year. The report includes number of homes sold, average listing price, average sales price, days on market (DOM), and current inventory.
Bullitt County encompasses the primary cities of Shepherdsville, Mt Washington, and Lebanon Junction. Home sales from the smaller cities of Brooks, Fox Chase, Hebron Estates, Hillview, Hunter's Hollow, Pioneer Village and Zoneton are also included, but these are generally listed under Shepherdsville in the MLS.
Comments and Analysis
This is the first time this year that … (5 comments)
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buyers: Louisville Homes for Sale ~ Steal of the Week - 10/25/08 12:53 PM
Every day, I scour the Louisville real estate market searching for houses that need work, but have significant equity potential for homebuyers and investors. Most of the time these homes have offers within hours of hitting the market and multiple offer situations are common. This is especially true for homes below $150,000.
On occasion, I find a hidden gem that has been overlooked for one reason or another. This week I previewed one such home. Although it has been on the market for about 1 week, I don't expect it to last long.
This 4BR, 3 1/2 Bath, Jeffersontown (J-Town) home can be purchased in the $190s (possibly lower) which is … (11 comments)
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buyers: Louisville Property Values are Stable - 10/25/08 11:29 AM
Not only is there very little risk of a decline in Louisville area home values, but year-over-year price appreciation is improving. According to the 2nd Quarter Economic and Real Estate Trend Report prepared by PMI Mortgage Insurance Company, Louisville has less than a 1% chance of seeing price declines in the next 2 years. Further, 2nd quarter 2008 price appreciation was 3.19%. This is an increase from the 2.88% growth during the same time in 2007.
While 3% growth seems modest compared to the traditional 5%, it becomes significant when compared to other metropolitan areas. Declines in areas such as Las Vegas (-17.67%), Miami (-10.68%), or … (5 comments)
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buyers: Bullitt County Homes for Sale ~ New Construction ~ New Listings 10-19-08 - 10/20/08 02:32 PM
Bullitt County New Construction Homes: The following chart shows new listings from the past 7 days. This week, only two new construction houses were listed in Bullitt County. This is reflective of the overall slowing of spec home production in the area. However, over 100 new homes are on the market. If you are looking for a new construction home please contact me and I'll be glad to help you find one that meets your needs and wants.
Search for Bullitt County Homes
Notes on New Construction Homes
In a recent CNNMoney article, it was revealed that housing starts are at a … (0 comments)
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buyers: Bullitt County Luxury Homes ~ New Listings ~ 10-12-2008 - 10/12/08 11:06 PM
Bullitt County Luxury Homes: For purposes of this report, I define luxury homes as those over $250,000 with some adjustments being made to those with significant acreage. Bullitt County homes in this price range are generally well beyond anything that would be considered a spec home. These are larger, have more bedrooms and baths, and have a multitude of upgrades.
Nowhere in Bullitt County is value more evident right now than in the Luxury Home market. The abundance of homes (almost 140 active listings) has lead to prices that are flat against the past 2 years. Without a doubt, the … (3 comments)
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buyers: Bullitt County Homes for Sale ~ New Construction ~ New Listings 10-12-08 - 10/12/08 10:53 PM
Bullitt County New Construction Homes: The following chart shows new listings from the past 7 days. This week, only one new construction house was listed in Bullitt County. This is reflective of the overall slowing of spec home production in the area. However, over 100 homes are on the market. If you are looking for a new construction home please contact me and I'll be glad to help you find one that meets your needs and wants.
Search for Bullitt County Homes
Quick Tip
Builders offer a 1-year home warranty during which time they will repair any defects in workmanship. However, … (0 comments)
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buyers: Bullitt County Luxury Homes ~ New Listings ~ Week Ending 10-5-2008 - 10/06/08 08:02 PM
Bullitt County Luxury Homes: For purposes of this report, I define luxury homes as those over $250,000 with some adjustments being made to those with significant acreage. Bullitt County homes in this price range are generally well beyond anything that would be considered a spec home. These are larger, have more bedrooms and baths, and have a multitude of upgrades.
Nowhere in Bullitt County is value more evident right now than in the Luxury Home market. The abundance of homes (almost 140 active listings) has lead to prices that are flat against the past 2 years. I've said it until … (2 comments)
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buyers: Buyers: Get off of the Fence! - 02/26/08 10:44 PM
This is follow-up to a post on my other blog that I thought had relevance here as well. I’ve read and heard comments that buyers are afraid to purchase a home because they are afraid that they will miss a better deal. This is simply not a good strategy. Buying a home is not like waiting to buy a TV on Black Friday. There are too many variables beyond your control. In fact, even if you get a better price by waiting, you may get a worse deal.
Consider this scenario,
Last week, a property came onto the market for $160,000 that … (2 comments)
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buyers: Bullitt County Kentucky Market Conditions - 02/17/08 11:16 PM
Ok, I was looking around and was dismayed to find that no information was available for Bullitt County. As a resident of Shepherdsville and a Realtor, I guess that I'll assume responsibility and try to keep this updated.
Summary:
2007 marked a downturn in the Bullitt County real estate market. Sales were off 9.2% and average home prices dropped 1.4%. Additionally, Days on Market (DOM) increased from 86 to 99. Despite this, 2008 is off to a great start. January sales are up over last year and the average home price is up a whopping 13% from last January. This can be partially … (0 comments)
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Erik Hitzelberger, --Louisville-Middletown Real Estate
Louisville,
KY
More about me…
RE/MAX Alliance - Louisville REALTOR-Luxury Homes
Address: 10302 Brookridge Village Blvd #103, Louisville, KY, 40291
Office Phone: (502) 921-3989
Cell Phone: (502) 921-3989
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