Are you thinking of selling a home in the Louisville, Ky metro area? Look here for answers to some questions that you might have. To read the articles, simply mouse-over the questions to the left.

Can't find the information that you need here? Contact Freddie. Your questions are very important, and Freddie will be able to assist you with up-to-date information relevant to the Louisville area market.

Find out how much your home is worth! A CMA is a Comparative Market Analysis. Other houses that have sold in your neighborhood are compared to your house for a picture of the current market value. Fill out this simple form to find out what your asking price could be.

Avoid 3 Common Mistakes that Cost Sellers Serious Money

The difference between a profitable smooth transaction and a break even, miserable experience is often a fine line. In the majority of cases it comes down to the subtle knowhow of your professional. Here are three common mistakes to avoid:

1. Refusing to Make Profit Inducing Repairs-
It always costs you more money to sell as is than to make repairs that will increase the value of your home. Even minor improvements will often yield as much as three to five times the repair cost at the time of sale.

2. Providing Limited Access for Showings -
Accessibility is a major key to profitability. Appointment-only showings are the most restrictive, while a lock box is the least. The more accessible your home is, the better the odds of finding a person willing to pay your asking price.

3. Relying Solely on Traditional Methods To Sell Your Home -
Demand around the clock advertising exposure, innovative lead generation methods and lead accountability. These services exist and should be offered on your home sale.

Should you put your house up For Sale By Owner?

At first glance, some feel selling a home is simple. Why should someone pay a broker fees for something they could do themselves? However, in an independent survey, close to half of the FSBOs said that they would hire a professional next time they sold. Thirty percent said they were unhappy with the results they achieved by choosing FSBO. Why? Many FSBOs said that the time, paperwork and everyday responsibilities involved were not worth the amount of money they saved in commissions. For others, the financial savings were even more disappointing. By the time they figured the amount of fees paid to outside consultants, inspectors, appraisers, title lawyers, escrow and loan officers, marketing, advertising... they would have been better off having paid the brokers fee which would have included many of these charges up front.
Selling a home requires an intimate understanding of the real estate market. If the property is priced too high, it will sit and develop a reputation for being a problem property. If the property is priced too low, you will cost yourself serious money. Some FSBOs discovered that they lost money as a result of poor decisions outweighed the commission.

Before you decide to sell FSBO, consider these things and weigh the cost of assuming the responsibility versus employing a professional.

The Most Effective Marketing

Of course, real estate agents will run ads featuring your house, but not necessarily for the reasons the seller expects. The primary motivation for advertising is to make the telephone ring. This builds up a pool of homebuyers looking for property in general. The agents representing those homebuyers know about your home because it is listed in the Multiple Listing Service, has been on broker open house preview, and because your agent is also marketing directly to these agents.

Through the Multiple Listing Service (MLS), the agents match up their clients (computer prospecting), with available homes, one of which may be yours. Cross selling is often how your property is sold; about 5% of the time, you and your agent will get lucky...someone calling on your house may actually end up buying it.

Because real estate agents are the ones with the ìbuyer poolî, It is much more productive and beneficial when your listing agent directs most of his or her marketing efforts toward other agents. It is an easy mistake to measure your agentís effectiveness solely by counting the number of newspaper and magazine ads featuring your property.“Behind the scenes” marketing is difficult for the seller to measure.

Set the Right Price to Sell

Price is the number one factor that most homebuyers use to determine which homes they consider. While you set the asking price, the selling price is determined by the buyer.

Some common reasons for overpricing include:
- Over-improved property
- Original purchase price too high
- Desire for negotiating room

Most of the activity on your home will occur in the first few weeks. Pricing a home properly creates immediate urgency in the minds of buyers and agents. There is a pool of buyers who have seen most available homes in their price range and are now only waiting for new listings or price reductions. A buyer that has been waiting may not see your home if it is priced too high. Sometimes, a price reduction may be too late, as interest by both buyers and agents may have waned.

The role of a real estate agent in pricing is to provide you with a comparative market analysis, a comparison of recent homes with similar amenities that are available, in escrow, and sold. There is no exact price; your home is worth what a buyer is willing to pay. The market determines value; together you and your agent determine asking price.

Choose the Best Listing Agent

Ask around... get to know who has the most signs, ads and marketing material in your neighborhood. Compile a list of agent names and use these sample questions to help you determine which agent is right for you.

1. Could you send me some information about yourself? - You can often get a good idea of which agents are the most professional by looking at their promotional materials.
2. How many homes have you listed and sold in the last six months? - Look for an agent who has experience with homes similar to yours and is active in your area.
3. What is your average length of time from listed to sold? - Do not automatically assume the shorter time on the market the better. That could reflect selling homes quickly at lowball prices
4. What listing price do you recommend and what is that price based on? - Pricing is the most critical step to selling your home. Take great care in choosing an agent with the knowledge to price your home effectively.
5. What types of things separate you from your competition? - How effectively will they advertise? Do they have 24-hour advertising capability? Will all the leads be followed up on by your agent or will they go to other agents who may have other listings they would prefer to show?

What is the Transfer Disclosure Statement?

The Transfer Disclosure Statement (TDS) is perhaps the most important paper you will complete when selling your home

Most sellers (other than institutional type) are required by law to disclose facts and defects, which materially affect the value or desirability of their home. The Transfer Disclosure Statement (TDS) helps the seller meet this requirement by providing a standardized format for most basic information. If the seller does not fully disclose, the buyer will be able to cancel the escrow, or worse find out after escrow closes - Full disclosure can reduce or eliminate the possibility of later legal action.

Often, as part of day-to-day living in a home, certain items do not function properly, are overlooked and we just accept them. Some common problems: Does your doorbell work? Is the clock on the oven operating properly? Do all windows and doors open properly? Is there safety glass in the shower and sliding glass doors? Are you aware of asbestos or lead-based paint? How is your water pressure? Are any of your sprinklers broken? If you have a water softener, is it owned or rented? Information about an alarm system should also be noted on the TDS. When in doubt, disclose.