Last night I received a phone call from a family moving to town in the next month or two, and they wanted to go look at only Louisville short sales, thinking that those represented the best deals available on the market.  That may be true, or it may not be, I tried to explain to her.  Simply by being a short sale, a house does not become more or less valuable, it merely describes the seller's ability to repay the full mortgage amount.  My advice is to always judge a house on the same criteria, whether or not it is a foreclosure, short sale or more conventional sale, and make sure that it is right for you and your family.  For instance, this couple wanted a 3 bedroom, 2 bath house with an acre of land.  Why would she look at a home on only 1/2 acre, simply because it was a short sale?  It is still priced at market price, she isn't going to get it for a steal, and it doesn't fit her needs for a home.  Just because a home is a short sale does not make it a deal.

 

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Greg Fleischaker

Louisville, KY

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Housing Associates Realtors

Address: 1800 Stevens Avenue, Louisville, KY, 40205

Office Phone: (502) 452-2195 x 2

Cell Phone: (502) 727-8120

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