louisville home buyers: You Gotta Know When to Fold'Em: The First-Time Homebuyer Tax Credit & You - 04/25/10 03:42 PM
As the $8000 tax credit gets ready to expire, many buyers are struggling to find a Louisville home that meets their needs and wants.  Feeling pressured by the looming date, some are considering just grabbing something so they can get the tax credit.  As Paul elegantly expresses below, this is really not a good strategy. 

GENTLEMEN, START YOUR ENGINES!Are they good and fired up?Great, now turn them off.As one knocks around the internet here in late April of 2010, he or she cannot go two clicks without encountering manic encouragement to purchase a home “BEFORE IT’S TOO LATE,” or proclamations that … (0 comments)

louisville home buyers: The $6500 Tax Credit of Louisville Home Owners - 01/10/10 02:18 PM

By now, most people are aware of the existence of the $8000 Tax Creditfor first-time home buyers.  But with the holidays, the start of UL and UK basketball and the media the way that it is, I suspect you are more likely to know Tiger Woods' mistress count than you are the details of the expanded Tax Credit Program.  In particular, when Congress extended the credit until April 30th, 2010, they also added a $6500 tax credit for existing homeowners. 
For those of you who were otherwise occupied, here's the answers to the questions now running through your head....
Am I eligible for the $6500 … (3 comments)

louisville home buyers: So you think you outsmarted the crowd because you skipped the $8,000 first time homebuyers tax credit - 09/08/09 03:38 PM
There has been a lot of speculation recently regarding the proposed continuation of or even extension of the $8000 tax credit.  In a recent post, one author even hypothesized that by foregoing the tax credit, homebuyers could actually save more money.  The rationale being that demand would sharply drop off and prices would follow.  This may be true in her area, but it is not true in Louisville.  
Jeff Belonger, one of the nation's top FHA experts and former Louisville resident, also disagrees.  In his detailed response below, he captures the problems with this reasoning.  In short, you are … (11 comments)

louisville home buyers: Everything You Want To Know About Louisville Homes That I Can't Tell You - 09/05/09 03:53 PM
Louisville Information Your questions are innocent.  They are well-intentioned.  In fact, they are normal.
What are the schools like?
Are there children in the neighborhood?
What is the crime rate?
My response may seem anything but normal.  In fact, it may seem a little idiotic. 
I can't answer that, but here's a website you can go to and find out.
If you are reading this, my response may be acceptable.  In fact, it might be welcome.  You can get all of your questions answered at your convenience.  You might even learn a few things you hadn't thought to ask.  On the … (10 comments)

louisville home buyers: $5000 Kentucky Tax Credit - 07/27/09 06:08 PM
$5000 Kentucky Tax Credit Effective immediately, the state of Kentucky is offering all non-first time home buyers a $5000 tax credit for the purchase of a new home.  This is great news for builders and for existing home owners who are ready to take advantage of the current market conditions. 
The Details This money is for buyers who are not eligible for the federal $8000 first time home buyer tax credit. To qualify, you must purchase a new (never been occupied) home and use it as your principal residence. You must purchase your new home between July 26, 2009 and July … (4 comments)

louisville home buyers: How do Buyers Agents get paid? - 07/15/09 03:06 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)

louisville home buyers: Should I Buy or Should I Rent? Sam I Am Version - 05/21/09 05:57 AM
Bennett Chef once famously bet Theodor Geisel $50 he could not write a book using only 50 different words.  With apologies to Geisel, aka Dr. Seuss, I attempted to answer the above question in that spirit.

Do not pay rent, Oh No! Buy a home. Keep your dough.   Hang a wreath on the door Put your rug on the floor. Hang your pics on the wall It's your home, have a ball. Paint a room without fear Landlords will not enter here   Buy a roof for your head Buy a room for your bed Buy a stove for … (24 comments)

louisville home buyers: $4500 Down Payment Assistance Money for Kentucky Home Buyers - 05/10/09 03:42 PM
First-time home buyers who obtain a KHC (Kentucky Housing Corporation) home loan will be eligible for $4,500 towards down payment and closing costs.  The program was announced recently by Governor Steve Beshear and is effective May 1, 2009 - November 30, 2009.  Unlike the $8000 first-time home buyer tax credit offered by the federal government, this is a loan.  However, the terms are very favorable and the money is provided at the closing. 
Plan Highlights The loan is in the form of a second mortgage on the home. Principle and Interest payments are deferred until July 1, 2010. The loan is repaid … (11 comments)

louisville home buyers: $15000 Tax Credit - What does it mean to me? - 02/06/09 04:12 AM
Final Update -- The 2009 Economic Recovery Act passed without the $15000 tax credit.  However, the new law includes an $8000 tax credit for first-time homebuyers that does not have to be repaid. 2/11 Update - 10:30p EST - The Lieberman-Isakson $15000 tax credit has been removed from the 'final' bill during negotiations between the House and Senate.  There is discussion that the $7500 tax credit will not have to be repaid.  I am looking for confirmation of this.  Regardless, first-time home buyers need to act before July 1st to take advantage of the credit. 2/11 UPDATE- 8:00am:  The Senate passed … (10 comments)

louisville home buyers: Grand Opening Announcement - Louisville Ass-Kickers - 02/05/09 03:48 AM
I have always had an entrepreneurial spirit.  Over the years, I have had many ideas that I could and would make good business concepts.  For a variety of reasons, I have only acted on a few of them.  Today's concept is different though. This has low barriers to entry and is foolproof.  In fact, it actually depends on fools.
With non-appreciating home values, tremendous selection and once in a life-time interest rates, home buyers have hit gambling's equivalent of the Trifecta.  Throw in the $7,500 tax credit and first-time homebuyers are sitting on the best opportunity of their lives to create wealth in their families.  Unfortunately … (17 comments)

louisville home buyers: Attention Buyers: Create Your Own Success Story - 01/27/09 05:49 AM
As we go through life, each of us are afforded certain chances to improve our lives and the lives of others around us.  Some people take advantage of these prospects while others have them pass by in complete oblivion.  Those who miss out often curse their misfortune and wonder how others can be so lucky.  
The reality is luck has little to do with it.  Successful people constantly watch for situations to take advantage of and are prepared to act quickly when they arise.  No one handed Bill Gates, Steve Jobs or Michael Dell anything when they started out.  Each of them recognized an opportunity swaying before … (6 comments)

Erik Hitzelberger, Louisville - Middletown Real Estate (RE/MAX Alliance - Louisville REALTOR-Luxury Homes)

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: (502) 921-3989

Mobile: (502) 921-3989

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