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Ton A. Ali, Realtor - Broker Associate, Buyer's Representative

People will surprise you.

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.

GLAR Econimic Summit

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.

Find us on Facebook

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.

The 3 R's

I approached a local business with the idea of partnering to better link my ideas of sustainability with theirs. The business is a furniture and home accessories store that is primarily consignment. Promoting the 3 R's is very important and they do it very well. The shop is called Eyedia; it's fun, a little funkie and is part of a movement called Keep Louisville Weird, a grassroots public awareness campaign promoting patronage of locally-owned independent businesses. These unique businesses represent the best of what makes Louisville one of the best cities to call home or to visit. If you're a fan of my facebook page, look for details of our partnership coming in November.

Extend the Tax Credit

This is going to be an interesting day. In addition to hosting a 100 guest cocktail party fund raiser for a local grass roots organization, I am trying to wrap up what has been a busy week with new listings trying to get out there before the deadline runs out for the tax credit. The weather is not cooperating.

We have debated the tax credit issue in our office for the last couple of weeks now that everyone seems to have a related story. I was told that our state representative is asking people to forward information on clients that bought using the tax credit where that sale resulted in another. Unfortunately I could only come up with one example. Most of my clients using the tax credit bought distressed properties, some at half their market value. It makes me wonder if there should at least be some provision that would restrict sales of distressed properties that sell below a percentage threshold. My client would have purchased the property at 50% off with or without the tax credit.

I do think that it has been a net positive for my business. I tend to work with first time home buyers. I would love to see it extended, but what is the true cost? It has to be cheaper than the AIG Bailout. At least we are putting the money in the hands of the tax payers and helping build the tax base in our city.