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The Louisville Real Estate Blog

Louisville Kentucky Real Estate Blog

Equity Matters A LOT… Just Ask Freddie Mac

Equity Matters A LOT... Just Ask Freddie Mac | Simplifying The Market

Equity Matters A LOT… Just Ask Freddie Mac

Singles Are Falling For Their Dream Home [INFOGRAPHIC]

Singles Are Falling For Their Dream Home [INFOGRAPHIC]

How to Get the Most Money from the Sale of Your House

How to Get the Most Money from the Sale of Your House | Simplifying The Market

How to Get the Most Money from the Sale of Your House

Selling Your Home? The Importance of Using a Real Estate Professional

Selling Your Home? The Importance of Using a Real Estate Professional | Simplifying The Market

Selling Your Home? The Importance of Using a Real Estate Professional

Why You Should Sell Now… Before Winter Hits

Why You Should Sell Now... Before Winter Hits | Simplifying The Market

Why You Should Sell Now… Before Winter Hits

Slaying Myths About Buying A Home [INFOGRAPHIC]

Slaying Myths About Buying A Home [INFOGRAPHIC]

The Importance of Home Equity to a Family

The Importance of Home Equity to a Family | Simplifying The Market

The Importance of Home Equity to a Family

Thank You For Your Service!

Thank You For Your Service!

Homeownership Builds Wealth and Offers Stability

Homeownership Builds Wealth and Offers Stability | Simplifying The Market

Homeownership Builds Wealth and Offers Stability

Where Are Mortgage Rates Headed? This Winter? Next Year?

Where Are Mortgage Rates Headed? This Winter? Next Year? | Simplifying The Market

Where Are Mortgage Rates Headed? This Winter? Next Year?

Fannie Mae’s Housing Forecast [INFOGRAPHIC]

Fannie Mae Housing Market [INFOGRAPHIC] | Keeping Current Matters

Some Highlights: 

  • 30-year fixed mortgage rates are projected to increase steadily over the next year.
  • Housing Starts will well surpass 2015 numbers.
  • Home Sales will reach an annual rate of over 6 million by the fourth quarter of 2016.
...

Waiting until after the Holidays Isn’t a Smart Decision

Waiting until after the Holidays, Isn’t a Smart Decision | Simplifying The Market

Waiting until after the Holidays Isn’t a Smart Decision

Your home hasn't sold yet? It could be the price

House Hasn’t Sold Yet? Take Another Look at the Price | Keeping Current Matters

The residential housing market has been hot. Home sales have bounced back solidly and are now at their second highest pace since February 2007. Demand remains strong going into the winter. Many real estate professionals are reporting that multiple offers are occurring regularly and listings are actually selling above listing price. What about your house?

If your house hasn’t sold, it is probably the price.

If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the number of prospective buyers that will even see your house. (See Chart)

Proper Pricing Pyramid | Keeping Current Matters

Bottom Line

The housing market is hot. If you are not seeing results you want, sit down with your agent and revisit the pricing conversation.

...

The Difference An Hour Can Make [INFOGRAPHIC]

The Difference an Hour Can Make [INFOGRAPHIC] | Keeping Current Matters

Every Hour in the US Housing Market: 

  • 634 Homes Sell
  • 347 Homes Regain Positive Equity
  • Median Home Values Go Up $1.46
...

Picking a Real Estate Agent through Facebook

Picking a Real Estate Agent through Facebook | Keeping Current Matters

According to a joint study released by Google and the National Association of Realtors, 2 of 3 people searching for a prospective real estate professional research them “extensively online prior to working with them". And, that number is probably increasing every day.

Are social media channels such as Facebook really a good place to gather information about an agent before using them? If so, what should you look for?

There is a plethora of information on any subject available on social media sites such as Facebook. A recent study by the Pew Research Center revealed that 63% of Americans now even get their news from Facebook (up from 47% in 2013).

It is no different for both buyers and sellers of real estate. Yes, Facebook is a good place to gather information about the housing market and “checkout” an agent you are considering hiring to help buy or sell a home.

What should you be looking for in an agent’s Facebook presence?

You want an agent that cares more about you and your family than they care about bragging about themselves. One way to determine this is to look at what they post on their Facebook page. Are they more interested in ‘hawking’ a listing or bragging about their accomplishments or are they trying to post insightful information that will help you make the best decision for you and your family?

At a recent real estate conference, Guy Kawasaki, an executive fellow at the Haas School of Business at U.C. Berkeley, gave the following advice to the Realtors in attendance:

“Value comes in the form of information...

Why You Should Hire A Professional When Buying A Home!

Why You Should Hire A Professional When Buying A Home! | Keeping Current Matters

Many people wonder whether they should hire a real estate professional to assist them in buying their dream home or if they should first try to go it on their own. In today’s market: you need an experienced professional!

You Need an Expert Guide if you are Traveling a Dangerous Path

The field of real estate is loaded with land mines. You need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a home that is priced appropriately and ready for you to move in to can be tricky. An agent listens to your wants and needs, and can sift out the homes that do not fit within the parameters of your “dream home”.

A great agent will also have relationships with mortgage professionals and other experts that you will need in securing your dream home.

You Need a Skilled Negotiator

In today’s market, hiring a talented negotiator could save you thousands, perhaps tens of thousands of dollars. Each step of the way – from the original offer, to the possible renegotiation of that offer after a home inspection, to the possible cancellation of the deal based on a troubled appraisal – you need someone who can keep the deal together until it closes.

Realize that when an agent is negotiating their commission with you, they are negotiating their own salary; the salary that keeps a roof over their family’s head; the salary that puts food on their family’s table. If they are quick to take less when negotiating for themselves and their families, what makes you think they will not act the same way when negotiating for you and your family?

If they were Clark Kent when negotiating with...

2016: Homeowner’s Net Worth Will Be 45x Greater Than a Renter

2016: Homeowner’s Net Worth Will Be 45x Greater Than a Renter | Keeping Current Matters

Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).

In a recent Forbes article the National Association of Realtors’ (NAR) Chief Economist Lawrence Yun predicts that in 2016 the net worth gap will widen even further to 45 times greater.

The graph below demonstrates the results of the last two Federal Reserve studies and Yun’s prediction:

Increasing Gap in Family Wealth | Keeping Current Matters

Put Your Housing Cost to Work For You

Simply put, homeownership is a form of ‘forced savings’. Every time you pay your mortgage...

Buying A Home Can Be SCARY… Until You Know The FACTS! [INFOGRAPHIC]

Buying A Home Can Be Scary... Until You Know the FACTS! [INFOGRAPHIC] | Keeping Current Matters

Some Highlights:

  • 36% of Americans think they need a 20% down payment to buy a home. 44% of Millennials who purchased a home this year have put down less than 10%.
  • 71% of loan applications were approved last month
  • The average credit score of approved loans was 723 in September (the lowest recorded score since Ellie Mae began tracking in August 2011).
...

Family Wealth Grows as Home Equity Builds

Family Wealth Grows as Home Equity Builds | Keeping Current Matters

With residential real estate values rising quite substantially in most parts of the country over the last few years, many homeowners are seeing a major increase in their family’s wealth as equity continues to build in their house.

recent study by the Joint Center of Housing Studies at Harvard University revealed that home equity grew nicely last year and has grown dramatically over the last five years…

...

Applying For A Mortgage: Why So Much Paperwork?

Applying For A Mortgage: Why So Much Paperwork? | Keeping Current Matters

We are often asked why there is so much paperwork mandated by the bank for a mortgage loan application when buying a home today. It seems that the bank needs to know everything about us and requires three separate sources to validate each and every entry on the application form.

Many buyers are being told by friends and family that the process was a hundred times easier when they bought their home ten to twenty years ago.

There are two very good reasons that the loan process is much more onerous on today’s buyer than perhaps any time in history.

  1. The government has set new guidelines that now demand that the bank prove beyond any doubt that you are indeed capable of affording the mortgage. During the run-up in the housing market, many people ‘qualified’ for mortgages that they could never pay back. This led to millions of families losing their home. The government wants to make sure this can’t happen again
  2. The banks don’t want to be in the real estate business. Over the last seven years, banks were forced to take on the responsibility of liquidating millions of foreclosures and also negotiating another million plus short sales. Just like the government, they don’t want more foreclosures. For that reason, they need to double (maybe even triple) check everything on the application.

However, there is some good news in the situation. The housing crash that mandated that banks be extremely strict on paperwork requirements also allowed you to get a mortgage interest rate probably at or below 4%.

The friends and family who bought homes ten or twenty ago experienced a simpler mortgage application process...