There are several ways to look at this.
Home Buyers that are relocating do not have much of a choice. For example, the Ford Motor Relocation has brought an influx of workers into the Metro Louisville area from all across the country. Most of these workers will start work by February 6th. Knowing that it often takes 30-45 days to close on their new home purchase, the activity has been brisk as they know that time is of the essence. Some of the new Ford workers have homes to sell first and will obtain temporary housing before making a home purchase here. These relocation purchases will drag on for a while.
There are several other reasons that home buyers are looking in the winter.
- Their lease runs out in the winter time. They don’t want to sign another 12-month rental agreement, so they are motivated by the end of lease terms.
- The buyers are current homeowners who are now under contract. They need...
I have conversations with my sellers in the Louisville KY area frequently. At this time of year, the question comes up about whether to leave the house on the market during the winter months, or even to have the listing active during the holidays.
I think that it comes down to motivation.
How motivated are Mr. and Mrs. Seller? I feel sure that the buyers are serious if they are out in Louisville’s winter weather.
So, what is at stake?
- Inclement weather needs to be addressed. If it snows, and it does snow in Louisville, the sidewalks need to be cleaned. It is not a welcoming sight to the buyer’s eyes having to traipse through the snow to get to the front door.
- Speaking of snow or rain, there needs to be an absorbent welcome mat inside the front door. If need be, booties could be provided to protect the carpet.
- The seller does not want to leave their cozy, warm fire; yet the...
I had not been to the Jefferson County Commissioner’s sale in a while and had the opportunity to attend with a friend yesterday. Since Louisville and Jefferson County has merged, this is basically the Louisville Kentucky foreclosure sale. My friend had interest in a neighbor’s property and wanted some real estate expertise as he went to make his purchase. I also went to see if much has changed; it hasn’t.
The December 6th sale had 142 properties on the agenda. 32 of these, or 22%, were withdrawn before the sale. Either restitution had been made, or the lender had some promise of a short sale occurring and postponed the foreclosure auction.
There were 7 properties that actually changed hands. This is only 5% but is on track with all of the other sales that I have attended....