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5 Quick Things To Remember Before You Buy A House

One of your biggest investments you will ever make will be your home.  Buying a house is not only exciting, it can be challenging as well. There are a lot of things that need to be clear and a lot of questions that are to be answered before you can seal the deal. So make sure you have these five essential things to do before you buy a house.  First get yourself a checklist to start off on the right foot.

  1. Checklist-Always set up a checklist before you start.  This way all your ducks are lined up and there will not be many, if any, surprises.  A good checklist goes a long way when it comes to being ready to buy a house.
  2. Do your research-This is something you should do, it doesn’t matter what you are going to buy. However, in case of buying property the responsibility is even more because the amount involved is generally very high. There are a lot of houses on the market at any given time including Daybreak homes for sale.  When you visit different houses with different features; it can be overwhelming.  It is quite a daunting task to overcome but as long as you research first you will be on the right track.  So let your fingers do the walking for you with your research. 
  3. Check your credit score-Always check your credit score to make sure there are no old bad credit marks on it and to fix it if there are any.  The recommendations are getting your credit score above 580 in order to get better interest rates.  The recommended score is usually around 640 to 660.  Of course the higher your score the lower your interest rate will be.
  4. Get a pre-approval for your mortgage-This is so there are no worries when you walk through the...

Do Homes Inside or Outside The Watterson Sell For More?

Our fascination with numbers can lead to some very interesting conversations about the state of Louisville’s real estate market.  For instance, this past month, someone in the office asked which area we thought sold better, urban homes inside the Watterson, or the more suburban areas outside of our expressway system.

Convinced this was a no-brainer, we piped up with an opinion, but before we had actually dug through the numbers to prove our case.  Before you read any further, ask yourself, if we were to look at four “urban” zip codes, and compared them to another set of four that were further east, let’s say “suburban”, which set of sold homes would you expect to get closer to their asking price? As any seasoned Louisville Realtor® will attest, there are two distinct groups of buyers in town – those who will happily live outside the Watterson and those who break into a light sweat when they venture outside the borderlands of I-264.

Sales Price to List Price by Zip Code

Back to the “urban” vs. “suburban” zip codes. That scenario is exactly what we graphed above.  Using 40204, 40205, 40206 and 40207 as the urban set, we compared the ratio of sold prices to listing prices (SP/LP%) of these homes along with a suburban set comprised of zip codes 40222, 40223, 40245 and 40059.

We fully expected this to be a pretty graph and plot out very quickly with one group clearly outperforming another.  And yet…

Unless you predicted that there would be no pattern at all, we think it would be fair to say that there doesn’t appear to be a relationship at all between where a...

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