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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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Real Estate is a continuous learning experience. Things you think will or should happen certain ways are always subject to another's thoughts and interpretations. Best rule of thumb is to always get your thoughts down on paper regardless of how obvious the situation may seem. There are plenty of lines on a contract, use them. People will surprise you.
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I attended the Greater Louisville Association of Realtors Economic Summit yesterday; very enlightening, up beat and positive. As an area we have done well during the economic downturn and there are some interesting projects in the works for our area. You may not feel upbeat if you're currently unemployed, but other parts of the state and region have done a lot worse. One of the factors that have helped this region is the proximity to the north/south interstate corridors of I-65 and I-75. Although I-64 had some impact, it wasn't has instrumental as the N/S routes. Long tern real estate values have stayed relatively steady. Although a few regions nationally are down 30-40%, they are very specific areas that had huge increases in value over the previous few years (bubbles). Unfortunately they are still the focus of the national news outlets and have had a negative effect on customer perception of their local real estate market and opportunities.

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Well people are finding us on Facebook. I started a fan page to quiet the critics that were tired seeing my listings on mysocial profile. Although other agents post their listings and every detail about what they're doing in Real Estate, I felt like they were right. It is funny because you would thing some would have more listing if they are going on a listing appointment 3 days a week like they post, but customers don't see that end.
The fan page has been fun and has grown 500% in the last few weeks (easy when you start at zero). I have approached several retailers who share my commitment to ecology and sustainability. Starting next month we will partner to bring my fans retail discounts for various Eco-friendly products and services. I am excited and I hope it will draw attention to the fact that I care about our community and not just from standpoint of making a buck.
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