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Heidi Fore's Blog

By Heidi Fore | Agent in Louisville, KY
  • Financing Secrets!

    Posted Under: Market Conditions, Home Buying, Financing  |  July 20, 2012 8:47 AM  |  176 views  |  No comments

    Secrets to Financing Your Next Home!

    Tired of renting? Are you ready for more space? Getting your finances in order is the first step towards getting your dream House in Louisville Kentucky, read below for advice from Heidi Fore, one of the top realtors for buying and selling Louisville KY homes.

    In my experience, when preparing my clients for jumping into this world of mortgages and financing a House in Louisville Kentucky, I have found the following these rules to be extremely helpful.

    *If it is possible to do so without adversely affecting your down-payment situation, pay off minor debts. The less debt you have the easier your mortgage process will be. Pay off credit cards first. Close the minor cards, but not all of them. Please remember that The Heidi Fore Team are not mortgage lenders, and you should call mortgage lenders directly for details on all of this. It is important to keep the cards with a small balance and low limit that you have had a long time. Close high limit cards you don‘t use much, like department store cards. BUT WAIT! It‘s good to have a little bit of credit to show banks that you have had loans and credit cards in the past and that you managed them properly. So consult a lender BEFORE you start paying off and closing your cards. I had a client once close down everything and then the lender said that he couldn‘t get a good loan because he didn‘t have a credit history. You might read books or hear talk shows talking about why you should be debt free-well it‘s not necessarily a good thing when applying for a loan. Banks want to see a credit history. Two of these “open” lines of credit are good. An example of this is a car loan, and you should also have two small-balance credit cards that you pay every month on time.

    *Do not incur any new debt. Many mortgage applications have been stopped in their tracks because the applicants decided a week before the application that a shiny new car would look just perfect in the driveway of their new House in Louisville Kentucky. Since mortgages are based on debt to income ratios (the amount you pay out monthly versus the amount you bring in), a newly acquired debt could make your total monthly bills too high and throw off the ratios, which would make the mortgage unobtainable.

    *Get pre-approved for a mortgage. When it comes time to write an offer on your dream Louisville Ky house, sellers are more likely to accept an offer if the buyer has been pre-approved. You can choose any lender you want, but our clients have liked working with these lenders. It is just as important to choose the right lender as it is to choose the right Realtor® or closing attorney. Choosing the wrong one could result in delays that cause your contract to expire. If another buyer has put a back-up-offer on your dream House in Louisville Kentucky and your contract expires, you could lose the contract.

    Heidi Fore is a realtor with Keller Williams Realty Services in Kentucky and Keller Williams Realty Southern Indiana. Call 502-554-9400 with questions about Louisville KY homes for sale for sale

  • How Can I Sell My Home Quickly?

    Posted Under: Market Conditions in Louisville, Home Selling in Louisville, Moving in Louisville  |  June 21, 2012 3:19 PM  |  231 views  |  No comments

    Why has my house in Louisville not sold?
    If you are wondering why your
    house in Louisville hasn’t sold, there is an easy way to figure it out. In my experience selling hundreds of Louisville Ky houses, there are always a few reasons that determine how long a Louisville house is on the market.
    Answer these questions to see if why your
    Louisville Kentucky house hasn't sold yet:

    *Promotion. Do thousands of people know your house in Louisville is for sale?
    Your answer-_______________________

    *Condition. Do buyers who have seen your House in Louisville Kentucky think that it needs work? Are there repairs or updates that buyers would want to do if they bought this Louisville Ky house?
    Your answer-__________________________

    * Pricing. Are there other Louisville Ky houses for sale in your neighborhood that are priced less?
    Your answer-______________________

    *Competition. Were there other Louisville Ky homes for sale that competed against yours for the same buyer that were priced the same as yours and were more “move in ready” where the buyers would not have to update paint, carpet, light fixtures, or do any repairs?
    Your answer-______________________

    See the next paragraph for analysis of your answers.
    How does promotion, condition, pricing, and competition affect you?
    Those are the factors that determine how long a
    Louisville Ky house is on the market before it sells. The only one that you don’t have any control over is competition. You can make changes to the way the house in Louisville is promoted, the condition of the house and make changes to the price to adjust to what the market is doing. If thousands of people know that it is for sale, have seen the photos online, and choose to see it and still don’t buy it, then it has been promoted and you need to make changes to price or condition. If the House in Louisville Kentucky is priced lower than any other house in the neighborhood and it hasn’t sold, make changes to condition or the way that it is promoted. You can’t change the competition.

    If a Louisville Kentucky house is priced wrong, it doesn’t matter how many places your realtor advertises it, people won’t come see it.

    If a Louisville Ky house is in beautiful condition, but it isn’t advertised properly, it doesn’t matter how nice it looks if no one sees it. The more showings we get, the more chances of an offer. If there is a Louisville house down the street that is bigger, prettier, shows nicer, or cheaper, that Louisville house will sell first, and you’ll have to wait for the next buyer who is looking in this neighborhood. Here are some things that will help your House in Louisville Kentucky look better to buyers:
    • Staging a room with furniture to show buyers what to do with each room.
    • Storing all unnecessary items, end tables, photos, stuff on the counter, etc.
    • Painting, new door knobs, and new fixtures that are updated and bright.

    If the House in Louisville Kentucky is advertised well, and priced right, you will have at least 1-2 showings per week. The first two weeks are the most important, and the most likely to get an offer. Make sure the house is spotlessly clean, well lit, and clutter put away. Keep lights and music and smells on.

    According to the National Association of Realtors (NAR) statistics, the House in Louisville Kentucky is overpriced if you have 10 showings with no offer, or two to three weeks with no showings. Based on my experience, you should get 4-6 showings in the first two weeks, and 6-8 within the first month. During the first 2 months, if there are 10-12 showings, and the Louisville house is in move-in condition, and priced right, you will get an offer. That is based on my experience of the past 400 Louisville Ky houses I’ve sold. Every 30 days, we should look at the market sales for the area, look at the number of showings we’ve had, any feedback from those showings, and then re-evaluate the price and adjust accordingly.

    Who determines the price? You and your realtor discuss the price, but buyers ALWAYS determine value.

    The value of your property is determined by what a BUYER is willing to pay for it today.

    Heidi Fore is a realtor with Keller Williams Realty Services in Kentucky and Keller Williams Realty Southern Indiana. Call 502-554-9400 with questions about
    Louisville Ky homes for sale




  • The Louisville real estate market

    Posted Under: Market Conditions in Louisville  |  October 23, 2011 12:50 PM  |  279 views  |  No comments
    You are probably clicking around this site because you are researching real estate values in the area. Here is a tip for you that will make your homework easier: To find the number of houses for sale in Louisville Kentucky right now, use the "View Matching Listings" box in the top right corner of http://www.rivervalleygroup.com/ after you choose the area of Louisville, northern Kentucky, Southern Indiana or Cincinnati. For a graph showing how sales are affected each month, see the graph on http://www.HeidiFore.com and scroll down the page. The graph is also available on http://www.HeidiAmshoff.com . For an up to date analysis by zip code of prices in Louisville Ky zip codes, see www.RiverValleyRealtyGroup.com and enter the zip code for which you would like more information. 

    Those sites will give you tons of information on the Louisville real estate market. Ify ou have any questions after looking at those sites, call 502-554-9400.

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