Louisville, KY

Do statistics matter?

11-20-08

Jeff Johnson

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Office: (502) 551-4295

Mobile: (502) 412-1657
Secondary: (502) 479-0681

IS IT HALF FULL OR HALF EMPTY?

In the real estate market it is more important than ever to be current with the statistics, doing so prepares us for turns, dips or curves that come along. I remember in my "past life" when working as a consultant for major health-care organizations, we stayed ahead of the curve by making our plans using statistics as a bell-weather.

The Greater Louisville Association of Realtors statistics are telling us that NOW is the time to be IN the market. If we believed everything we hear and see on the news it's time to crawl in a hole and do nothing!!!! PLEASE don't listen, now is the time to position yourself to cash in when the market shifts again!

Why do I feel this way, well let's look at the statistics;

•1. In October we can see that in regard to the houses that sold the Average Day's on the Market were just 78. This is significant because of the reduction from the month before. This tells us that the houses that are priced correctly are not sitting on the market AND people are getting the loans to buy! Along the same lines the current average days to close in the Greater Louisville Area is just 35!

•2. The total inventory of homes currently on the market in the GLAR is just over 10,200, this is down from a high a couple of months ago of almost 11,000. This is a good sign for both buyers and sellers. With a smaller inventory of homes on the market buyers can refocus on the exact specifications of the homes they want and sellers do not have as many homes to compete with for buyers. This statistic is yet another sign that loans are being given and people are buying homes.

•3. When comparing the homes sold in October of 07 to the homes sold October of 08, we see that in the GLAR homes are selling for approximately $92 /SF. This is over 95% of the total from 07. This looks pretty stable to me!

If you would like additional information about the statics relative to the homes in certain area's or neighborhoods please give me a call today. The stats are hot off the presses and I am encouraging my buyers and sellers to strike while the iron is hot.

Call me today at 502-551-4295 or Alan Meyer at 502-609-3014 and lets chat!

Continued Bliss!

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A Networking Lunch You Don't Want to Miss!

11-19-08

Kris Wissing ~ SidCo Property Solutions

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Office: (502) 425-3327 x225

Mobile: (502) 500-6297

If your business has suffered due to the mortgage meltdown and recent changes in lending, then you should seriously consider coming to this special networking lunch. Don't miss this great opportunity to network while having a great lunch and finding solutions to navigate the new market!

Date & Time: November 26th, 2008, 11:45am - 1pm

Location: The Fox & Hound Pub & Grill

Address: 302 Bullitt Ln, Louisville, Ky 40221 (By the Oxmoor Mall)

I look forward to seeing you there! Let me know if you have any questions!

~Kristopher Wissing
SidCo Property Solutions
http://www.sidcollc.com

Helping people get back on track - one family at a time!

[where: 302 Bullitt Lane, Louisville, KY 40221]

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Home Staging for For Sale by Owners

11-19-08

Jeff Johnson

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Office: (502) 551-4295

Mobile: (502) 412-1657
Secondary: (502) 479-0681

OK, you've decided to place your home on the market and sell it yourself! I applaud your moxy and wish you the best of luck!! Yes I am a Realtor and I would love to sell your home, but lets face it, right now it is a good thing when ANY home sells and statistics tell us that homes in the highlands do not stay on the market as long as some other areas.

The Johnson & Meyer Team has set up a 24 hour, automated hot-line offering some unique ways to stage your home for prospective buyers. These tips are derived from our knowledge of what helps a home sell from a Realtors perspective, our interior design expertise and just a touch of Feng Shui! We want to provide you with some information that is not on every-ones list, because to sell a home we know that the marketing of the property is key, and to achieve your goal, needs to be just a little different from the next home for sale!

The statistics look good for anyone wanting to sell a home right now in the highlands. (if you would like a copy of the current statistics call me and I will forward them to you at no cost to you) With inventory down from the previous months and people starting to re enter the market, now is the time to sell or buy for that matter!

Call 1-800-218-7583 ext 2408 for the recorded information. You may call me directly for any advice or a free consultation at 502-551-4295 or call my partner Alan Meyer at 502-609-3014

Continued Bliss,

Jeff Johnson

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Why you need to be Represented.

11-19-08

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

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Office: (502) 451-4107

Mobile: (502) 386-6244

I was meeting with a buyer client yesterday to pick up a check and some signed disclosures and she mentioned that she has a few questions about the disclosures and the process in general.

Every time we went to see the home with her family, there was no power. We were told that it would be on, but it never happened. We did actually get an accepted contract last weekend with the stipulation that the power be on for the inspections.

After showering me with questions about the disclosures, inspections, utilities and more; my client looked at me and asked how all these things are going to get done, it is just too much to think about and try to work full time.

It was then I reminded her why her brother and sister-in-law told her to call me in the first place. I assure her that I would be working with the team (my transaction broker, seller's agent, mortgage representative, and title and settlement representatives) to get this contract to closing.

As a buyer's representative my job goes beyond getting my clients into a home they find on-line. There is research on the value, condition, and renovations. When we do find a home that works for the client, we put together the 6 page offer with the disclosures and other supporting documents and deliver them to the listing broker only to enter into negotiations. If and when those negotiations result in an accepted offer or contract, we coordinate the inspections and resulting repair request negotiations. During this time I disseminate all the appropriate forms to move the contract to closing. This is an over simplification and doesn't even take into account that you are only one person on this team. If this is not a priority for the others involved, it could be very frustrating to get an answer for an anxious client from another agent who won’t return your calls.

In addition to the experiences I have working with buyers; I'm also an ABR or Accredited Buyer's Representative. This designation offered by the National Association of Realtors (NAR) prepares agents in dealing with and negotiating contracts with less than cooperative parties in any transaction.

If you have any questions about the purchase process or what you need to do to be ready to buy a home for the first time or if you're moving up, call me. We can discuss your needs and strategies to meet them.

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Sell now and buy more, low.

11-12-08

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

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Office: (502) 451-4107

Mobile: (502) 386-6244

I am heading out to speak to a couple about the possibility of listing their home. They understand that this may not be the best time to sell, but it is an awesome time to buy. They recognize that there could be some bargains out there in a move up home. They purchased back in 2002 when the market was pretty strong. They have a beautiful home in a desirable neighborhood. I am hoping I can talk them into testing the market by marketing their home for at least 60 days to see what response and feedback we get on price and condition.

The response I want is an offer that is close to asking price. By pricing a home right the first time, you have a better chance of receiving a realistic offer sooner. Pricing right mean pricing the home where the buyer perceives value. High or low would depend on condition and location. That doesn’t mean there are buyers who will offer far less than the house is worth. It does happen and needs to be dealt with professionally. They are either a real buyer who wants to know how low you are willing to go or they are hoping for a steal and will buy at their price, but no where close to yours. You don’t have to meet anyone’s price, just be open to negotiation.

With over 90% of today’s buyer using the internet, the focus of my marketing will be there. The most exposure for the home is the goal. More buyers mean a better price for the homeowner if the value is there.

Here are more stats for the Louisville market. Although we don’t stop selling in the winter, the numbers do fall off a little.

Statistics

LISTINGS Residential

November 3 -9, 2008 471

Last Year 612

SOLDS

October 26 - November 1, 2008 228

Last Year 331

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