The Shafer Team Jacki & Jerry Shafer Call 502-643-SOLD

"But XYZ Company says they can get me $10,000 more for my home than you can."

When you're interviewing Realtors, don't go with the agent who may be there for with one goal - to GET THE LISTING! - even if it means embellishing the listing price.

Actually, when an agent comes in with a pie-in-the-sky price that even makes you raise your eyebrows, you can bet that either:

a. The agent is inexperienced and really doesn't know how to do a thorough market analysis.

b. He or she may be out of her area of expertise. All real estate is local. Very local. Sometimes even as local as your particular neighborhood or even your street. This is particularly true of home prices in the Louisville, Kentucky area. This agent may be trying to compare your home to a home several miles away. Looks good on paper, but doesn't work in the real world of local real estate.

c. There may be an ulterior motive for listing your home at any price. You see, statistically speaking, an agent should be able to sell TWO HOMES to buyers who call for information on your home. So, in essence, even if your home doesn't sell, the agent has met many new potential clients and has a great chance of still earning commissions from the sign in your front yard.

d. The agent may not be bold enough to tell you the truth. He or she may simply take the listing, and then hit you up later for a price reduction.

So where does that leave you? You have a price tag on your home that will prevent it from selling. Your home is now a "stale listing". You fire the agent who overpromised and couldn't deliver. You're understandably upset. You've lost money as you have to continue to pay your mortgage and upkeep on your home. Prime marketing time is lost.

A professional Realtor is one who will tell you the truth. In today's market, the truth is often very difficult to hear. But a great agent will have that hard conversation with you up front, explaining that the buyer ultimately defines the market. Buyers will be comparing your home to somewhere between 12 and 15 others, and they will invariably go with the one that offers the very best value.

You can compare the pricing of your home to the price of a gallon of milk at the supermarket. If you know that a gallon of milk at Safeway is $2.99, and the price of milk at Publix is $5.99, where are you going to buy your milk? Well, what if Publix hires a band to stand out in front of their store and sing a clever little song about their milk while clowns dance around with signs that say "Buy your milk at Publix! Only $5.99!" In spite of all that expensive marketing and extra effort, you'll still drive over to Safeway and buy your milk for $2.99 instead, right?

Well, that's how the price of your home is determined. A buyer will make an offer on your home at the point at which they see the value.

Look for an agent who really understands how to price a home correctly, get it sold for you at top achievable dollar, and who will negotiate in your best interest.

Contact The Shafer Team: http://www.TheShaferTeam.com - or call us! 502.643.SOLD (7653)

It was predictable but still made the headlines:

The Washington Post braces America for the bleak news:

New-Home Sales Plunge 33 Pct with Tax Credits Gone:

"Sales of new homes collapsed in May, sinking 33 percent to the lowest level on record as potential buyers stopped shopping for homes once they could no longer receive government tax credits.

The bleak report from the Commerce Department is the first sign of how the end of federal tax credits could weigh on the nation's housing market."

The tax credit was definitely a B-12 shot in the arm of an anemic housing market.

So now what? That ship has sailed. What can be done to keep buyers excited about finding a great buy in today's competitive market?

Freddie Mac is hoping that record-breaking interest rates could be the answer:

Rates for a 30-year fixed loan declined to 4.69 percent this week from 4.75 percent. The previous record was 4.71 percent, set in the week that ended December 3.

The average 15-year rate was 4.13 percent.

It's important to get this message out: When you consider these incredibly attractive rates, combined with the fact that Sellers are more competitive and negotiable than they have been in years, it's still a great time to buy !

Jacki and Jerry Shafer are mega-agents with The Shafer Team and Keller Williams Realty. They specialize in residential sales in Louisville, Kentucky, and surrounding Oldham, Shelby, Trimble and Henry Counties.

When your home is on the market, you're in a race. And the competition is fierce. Using round numbers, let's just say there are 100 homes for every 20 buyers. (Not much of a stretch...). What are you going to do to ensure that your home jumps ahead of the others, giving you the edge you need to make it successfully to the closing table.

If you're not priced competitively, staged to impress their socks off, and willing to negotiate (not just price, but financing terms, repairs, etc.), you're going to be choking on the other guy's dust as he makes that last lap to the finish line.

If you really need to sell your home in a challenging market, you've got to be willing to embrace a true competitive spirit. Put sentimentality and emotion aside: your home is now a product. Can you sell this product? Heck yes you can, but it's got to be the best looking thing in a 5-mile radius and priced better than the nearest competitor.

It's easy to find out what your neighbors' homes have to offer. Most homes have multiple photos, detailed descriptions and virtual tours that you can view online. If the homes are hosting open houses, by all means take a look around. Knowledge is power, and this will help you determine with your Realtor RIGHT PRICING for your home.

If there's another home very much like yours: same age, amenities, square footage, etc., price it just under that one and you'll have a great shot at winning out. But also keep in mind that buyers are sizing up the lots as well when they're shopping. Two homes may be alike in almost every way, but the competition might have a better lot, more privacy, a better view, etc. Be sure to compare homes both inside and out.

This can all seem daunting, but a good - or I should say - great Realtor, can bring all the puzzle pieces together and help you focus on what it's going to take to get your home SOLD!

Jacki Shafer is Lead Listing Specialist with The Shafer Team and Keller Williams Realty Louisville East.

Before my Saturday listing appointments and home showings command my day, I like to take a short drive to one of my favorite places - LaGrange Farmers and Artisan Market. First stop: grab a great cup of coffee from LaGrange Coffee Roasters.

After saying hello to some friends and fellow shoppers, I can't resist stopping at Q & A Sweet Treats. Maybe I'll have a buttermilk scone or a blueberry streusel muffin. It's all good.

As a long-time resident of Oldham County, it really makes me smile to see how Farmers Market has grown - from a few farmers selling vegetables on the corner, to the delightful weekly event it is today. In fact, now called "Farmers and Artisan Market", there's much more to offer now than fresh Kentucky-grown fruits and vegetables. Today the sidewalk fare also includes hand-crocheted hats, home-made soaps, hand crafted wood pieces - all offered by local artisans. I bought a beautiful pair of earrings last Saturday for my granddaughter.

After a hectic week - that for me doesn't end with the weekend - this is my mini-vacation from my real estate life where I can come up and see friends, sample some of the best fresh fruit you can find anywhere, and buy free range chicken and some local honey. And having a local musician set it all to music - well it just doesn' get much better than this!

If I have some extra time I'll stroll on down Main Street and stop in some unique shops and art galleries, maybe stop for lunch with a friend or client at one of many amazing restaurants.

Located at the Courthouse Square in Downtown LaGrange, Kentucky, Farmers Market is held every Saturday from 8:00 a.m. to 1:00 p.m. through October 1, 2010.

And yes - A Train Runs Through It !

This is just one of many great events Downtown LaGrange has to offer. Go to Discover Downtown LaGrange to find out more.

Jacki Shafer is a Realtor with The Shafer Team and Keller Williams Realty Louisville East. A long-time resident of Oldham County, Jacki is a Board Member of Discover Downtown LaGrange.

Did the recent tax credits have an impact on home sales in the beautiful rural community of Oldham County, Kentucky? The numbers tell an interesting story:

Compiled from the Louisville Multiple Listing System, I compared single family homes that SOLD from January 1, 2010 to May 5, 2010 to homes SOLD from January 1, 2009 to May 5, 2009.

The percent of change is pretty dramatic in the lower price ranges. Homes priced under $100,000 saw a 42.85% increase in numbers of homes SOLD.

There was a 15.38% increase in numbers of homes SOLD that were priced between $100,000 and $149,999.

Interestingly, the numbers of homes SOLD that were priced between $150,000 and $250,000 actually fell when compared with the same time period in 2009, but homes priced between $250,000 and $299,999 spiked a full 40% .

Numbers of homes priced between $300,000 and $349,999 jumped a whopping 425%: from 4 homes SOLD from January 1 to May 5 in 2009 to 21 homes SOLD by May 5, 2010.

Homes priced between $350,000 and $399,999 saw an 80% increase.

This is where the positive numbers STOP.

Homes priced between $400,000 and $449,999 have decreased: from 10 homes SOLD by May 5, 2009 to 7 homes SOLD by May 5, 2010. From $500,000 to $549,999: 3 homes SOLD to 1 home SOLD. From $550,000-$599,999: 3 homes SOLD to 2 homes SOLD. For both 2009 and 2010 year-to-date (May 5): there was only 1 home SOLD each year. From $700,000 to $900,000: 2 homes SOLD by May 5, 2009, and thus far no homes have been recorded as SOLD in 2010.

Both years reported no homes SOLD by May 5 that were priced at $1,000,000 or above.

It seems obvious to me that homebuyers seized on multiple opportunities during first quarter 2010: The first and repeat homebuyer tax credits, low interest rates, and competitive pricing.

So now what? Well, it totally depends upon which newspaper you're reading or which news channel you're watching. Predictions are all over the board.

Many predictions are that the housing market will dip again in mid 2010 before making a slight come-back toward the fourth quarter. National Association of Realtors chief economist Lawrence Yun said, "Later in the second half of the year, and into 2011, home sales will likely become self-sustaining if the economy can add jobs at a respectable pace, and from a return of buyer demand as they see home values stabilizing."

Yun went on to say, "Another encouraging sign is the improvement in the availability of jumbo and second-home mortgages. As bank balance sheets strengthen, it is just a matter of time before lending of non-government-backed mortgages steadily opens up."

Of course there are very realistic obstacles still in the way of a truly robust real estate market. Rising foreclosures will push more inventory onto the market, putting additional downward pressure on home prices. And many lenders are concerned about the threat of rising interest rates.

But here's what we have on our side: We live in an area of the country that has weathered every real estate storm very well. And most particularly, we live here in Oldham County, where demand for affordable housing, great schools, and an incredible quality of life is still very high.

Challenges still ahead? Absolutely. But I remain your eternal optimist!