John Nitzken, Principal Broker John Nitzken REALTORS Lou KY502-639-9264's Blog

Louisville KY Homes For Sale

Sat, 23 Apr 2011 11:12:32 -0700

Short Sales Happen

Tue, 08 Mar 2011 09:14:08 -0800

SHORT SALES...What the bank wants you to know.

Short Sales Happen

Lately, short sales have become a common occurrence within the real estate industry. Things happen and for one reason or another, some home owners are finding themselves in a situation where they MUST SELL their home, but they feel like they can't afford to.

Selling short, or SHORT SALES essentially mean that when the home is sold, there is not enough money to pay-off the lender (or lenders). Things can be worked out and everyone can move on with their lives if homeowners can follow a few important rules. If you find yourself in a short sale situation, please make note of the following tips:

•1. Communicate with your bank. Talk, Type and TRY!

•2. Work with a Realtor and List your home for sale.

•3. Cooperate with the lender. After all, you will be asking them to accept less than they are legally entitled to - for your home to close.

•4. STAY PUT. Please stay in your home and maintain it. Keep the utilities on, the lawns mowed, the grounds clean and the home occupied!

•5. Hang in there. These sales are anything but short to close. Actually, they might be better defined as "long sales".

•6. Know your not alone and don't go it alone. You will get through this as long as you keep saying: Short Sales Happen

Your Agent Matters

Tue, 08 Mar 2011 08:31:31 -0800

Your Agent Matters

With so many agents to choose from, let's take a brief look at some very important matters.

Ever visit a restaurant with so many items on the menu, so many items to choose from and you take a try at something, anything, just to order your meal? Sometimes you like what you ordered and sometimes you didn't. Sometimes you loved what you ordered, and you revisit the restaurant for more.

Now its time to order a real estate agent. Here are some tips to increase your chances of loving what you order:

•1.) Talk to more than one agent. You are about to enter into a relationship. It is important to talk with several good agents.

•2.) Make sure the agents you talk with are REALTORS. These agents are part of the largest, most respected and highest qualified organization available to home buyers and sellers.

•3.) Talk and listen and learn. Know your goal, communicate it to your REALTOR candidates and listen to their responsiveness. You'll learn that the best agent for you is the one that hears and completely processes what you tell them.

•4.) Give them a chance to earn your business. See if what they do for you is timely, complete and accurate. Are they accommodating and professional? Do they teach you along the way?

•5.) Look for industry knowledge, positive attitude, attention to detail, market familiarity, confidence, concern, punctuality, determination, appreciation and respect in your agent. If you don't see these things...keep looking - for another agent!

Please share your thoughts, questions and concerns below. THANKS!

Homeowner Benefits

Tue, 08 Mar 2011 07:17:31 -0800

Homeowner Benefits

Although not everyone wants to or can own a home, there are some great benefits for today's homeowners.

They include:

•1.) A place that is yours, that provides shelter, security and comfort for you and your family. A place that you can enjoy with generations to come.

•2.) Tax benefits! Owning a home can reduce the federal income taxes you pay each year. The interest you pay monthly can be deducted when you file your taxes.

•3.) A fixed monthly payment for years to come - provided you choose a "fixed-rate" mortgage. No more worrying about "will my landlord increase the monthly rent?"

•4.) Control of your own destiny. Eventually, although it may take years, you will own your home. What a sense of security and accomplishment when this happens! AND what a way to increase your "nest-egg"!

Think about it. Interest rates are at historical lows and the inventory of homes for sale are at historical highs. This is a winning combination for those who want to and can own a home. Spread your wings and fly! The timing is right. Contact John Nitzken REALTORS at 502-639-9264 for more information about making your move!

We'd love to hear from you. Whether thinking about making a move or having already made a move, you can share your thoughts and ideas with us on this blog. Comments or questions? Type away...

Caveat Emptor

Sun, 06 Mar 2011 09:20:01 -0800

So now it's YOUR MOVE!

Time to start searching for that new place to call home. Where do you begin?

Determining the city is easy. From there, so many other key issues surface. Neighborhood, Size, Price, Loans, Mortgages, Down Payments, Good Faith Estimates, Market Analysis, Utilities, Value, Resale, Title, Potential, Lemons, Limes and maybe even Margaritas! Where do you go from here?

First of all, learn the meaning of Caveat emptor.

Caveat emptor, pronounced /ˌkævi.ɑːt ˈɛmptɔr/, is Latin for "Let the buyer beware".

Secondly, accept the fact that you are not a professional when it comes to buying a home. You certainly may be a professional at something, but the fact that you are reading this reiterates that you are not a professional when it comes to buying a home.

Thirdly, understand that there are TWO common types of Real Estate Professionals. Those that work with Sellers (aka LISTING AGENTS) and those that represent Buyers (aka BUYERS AGENTS).

Certainly a Professional Real Estate Agent CAN work with both Buyers and Sellers BUT who do you want representing you? If you are a Buyer, PLEASE make certain that you have a Professional Real Estate Agent representing you and your best interests. Not a brother or sister or aunt or uncle or friend or co-worker that knows something about what you are getting into, BUT a Professional Real Estate Agent that works in the business on a full-time basis helping people make good moves. Someone that is Experienced and Knowledgeable with the market place. Remember, the Sellers Agent has a fiduciary obligation to represent the Sellers Best Interest.

Lastly, find a Professional Real Estate Agent to Represent Your Best Interest!

John Nitzken, Principal Broker John Nitzken REALTORS Louisville, KY 502-639-9264

Let's FACE IT!

Thu, 17 Feb 2011 06:02:32 -0800

Every day, I am thankful I'm in a people business. I like people and more importantly, I like helping people!

With so many high tech tools available to us, I still rely most on using the oldest tool available to me...my FACE (not to be confused with Facebook!).

We all have needs and as real estate professionals, I believe our greatest need is to be in front of our clients, as often as possible, Face-To-Face. In doing so, I believe we also do best at meeting the needs of our clients.

Use technology to its full extent, to your advantage, but never forget - your greatest and most valuable tool is always with you, and the one you're most familiar with. Now, just let your prospects and clients become familiar with it!

Regards - and best wishes for a very successful year!

John Nitzken, John Nitzken REALTORS Louisville, KY 502-639-9264

Highest and Best

Wed, 02 Feb 2011 11:16:27 -0800

My associates and I constantly ask ourselves "what could we have done differently - what could we have done better?" in an effort to continually learn from the school of hard knocks.

Just yesterday, our first time homebuyers' offer was rejected. Not countered, but rejected. We were told "the other offer was much better", by the Seller's Agent. WHAT OTHER OFFER? Multiple Offers? No one told us.

Lesson 1: Although we never were told there was another offer - we as agents, and our clients as buyers, probably should have conducted our activities in a way that presumed there was another offer in the making. After all, the home was priced very fairly. Our market familiarity and knowledge told us so. Why didn't we just come in with our "Highest and Best" offer? Is it really human nature to always try to get something for less than what it is worth? We don't think so. What we do think however, is that often buyers, and especially first time home buyers, get information overload from their advisors. Parents, friends, co-workers, siblings, etc. all give their input on "what to offer". Perhaps if it was four years ago - our buyers might have offered more than the sticker price on this home.

We have to give all parties involved all the information we can to help them make good decisions. Maybe we could have better illustrated the value of this home to our buyers. Maybe they could have listened more to their agents (professionals familiar with the market) and less to their advisors. Maybe we should have been told by the Listing Agent that there was another offer (Lesson 2) and maybe she truly thinks she did tell us (Lesson 3).

Lesson 2: As agents we have an obligation to do what is best for our clients (and our industry). Multiple offers are a prime example of making certain (certain) all parties are in the know. Seller, Listing Agent, Buyer Agent and Buyer. We are sure in this situation that at least 2 of the 4 parties didn't know of the multiple offers (the Buyer Agent and the Buyer)! Who knows what might have happened had every party been informed.

Lesson 3: We often are so busy making moves happen that we sometimes drop the ball. (We'll probably see a professional football player make a fumble or two this Sunday in Dallas). On our end, all the parties involved learned a valuable lesson. On the other end, we hope that the Listing Agent learns a valuable lesson so that she may better serve her future clients and the industry in the highest possible fashion. Maybe she won't allow herself to get so busy in the future, that she misses giving important details. Maybe she'll write things down (and even utilize technology like emails) to keep a paper trail of her thoughts and communications. Maybe we all can do a little better in this area.

In closing...no one is perfect. We'll continue to strive for excellence, not perfection by reviewing our day to days. A long time ago, I learned that we only have one chance to make a first impression. We all know how important first impressions are. In the future, we'll do everything possible to encourage our buyers to put their best foot forward and make their very best first impression.

Regards to my friends on Active Rain! May you all make your best impression...

John Nitzken, Principal Broker John Nitzken REALTORS Louisville, KY

It's A Wonderful Life

Tue, 01 Feb 2011 08:42:10 -0800

Lessons from history...and It's A Wonderful Life.

One of my wife's all time favorite movies is this 1946 Frank Capra classic starring Jimmy Stewart. I too, enjoy watching this movie every holiday season and am reminded of several key messages as the film touches on many life celebrations and challenges. Just think what life in Bedford Falls would have been like without The Bailey Building and Loan Society.

It's a Wonderful Life effectively touches upon one basic truth of life that we all would like to believe -- that each of us, no matter how apparently insignificant, has the power to make a difference, and that the measure of our humanity has nothing to do with fame or money, but with how we live our life on a day-to-day basis. It's a Wonderful Life asks and answers a question that all of us think of at one time or another: "What would this world be like if I had never been born?"

George Bailey lived by a creed that always placed human need above riches, and, as a result, his only wealth was in his friends and family.

Mr. Potter, on the other hand, used his considerable wealth to bleed the citizens of Bedford Falls dry. The Bailey Building and Loan Society was the only institution in town that he didn't own, and he'd do anything to get his hands on it - lie, cheat, bribe, and steal.

Despite the schemes that Potter devises to destroy George Bailey, the Baileys always seem to end up on top.

Although the predominant tone of It's A Wonderful Life is upbeat, Capra effectively captures the darkness of George's mood as his mounting personal and financial troubles plunge him into an abyss of despair. Those who mistakenly think of It's a Wonderful Life as all light and sunshine forget the grimness of certain later scenes, especially those that culminate in George standing on a bridge, contemplating suicide.

I like to think we all play a significant role in the lives of those around us. We all make a difference!

As we rebound from many of the day to day challenges and obstacles we face, always remember that we do make a difference.

As we focus on the tasks and challenges of the present, remember the past and don't stop thinking about tomorrow...

Whatever your role, whatever your responsibility, I hope that at the end of the day, you count your riches in the likes of George Bailey!

John Nitzken, Principal Broker of John Nitzken REALTORS Louisville, KY