Walk into your home buying or selling experience with confidence. by MIKE HALL, Owner/Agent/Broker When looking to buy or sell your home, you’ll be met with a lots of terms. Walk in prepared with knowledge on your side. Let’s look at some common terms related to the finance side of real estate. Adjustable-rate mortgage (ARM) or variable-rate mortgage – mortgage loan with an interest rate that can fluctuate with market changes over the life of the loan. Alienation clause – clause in the loan that requires the borrower to pay the balance of the loan in a single payment if the property is sold o ..read more

Should you itemize? by MIKE HALL, Owner/Agent/Broker Most individuals take the standard deduction on their federal taxes. The standard deduction for the 2023 tax year is $13,850 for single or married filing separately, $27,700 for married filing jointly, and $20,800 for heads of household.[1] However, if you decide to itemize, what expenses can you deduct on your annual taxes? Qualified expenses that you can deduct include:[2] State and local real estate taxes (SALT), up to $10,000 Home mortgage interest (with limits) Mortgage insurance premiums Some necessary home improvements Home office ex ..read more

2024 housing market predictions. by MIKE HALL, Owner/Agent/Broker While the experts can’t definitively tell us what the future holds, they can provide a prediction based on past and current market trends. Will changes in inventory or supply, mortgages rates, and home prices make housing more affordable in 2024? Unfortunately, unaffordability persists as the biggest issue for homebuyers.[1] Let’s look at these factors.   Inventory Inventory of existing homes for sale will continue to remain low. Current homeowners are unswayed to sell given their current low mortgage rates; thus sellers wi ..read more

Work on your credit to qualify for homebuying by MIKE HALL, Owner/Agent/Broker Every year, millions of people make a New Year’s resolution. Some want to lose weight. Some want to kick a bad habit. Others want to find a better job. Is yours to buy a home? Home buying relies on getting approved for a mortgage using your credit score or FICOâ score. Your FICOâ score determines how much you can borrow, and if you would be approved at all. What can you do to make sure you have a high FICOâ score? The first step to improve your credit score is to get a copy of your credit report from the three repo ..read more

Less is more for holiday décor when selling your home by MIKE HALL, Owner/Agent/Broker Photo by Frames For Your Heart on Unsplash November and December are a time for family and friends. Many holidays during these months welcome friends and family into our homes. We also decorate our homes to celebrate the season with pumpkins, a Christmas tree, menorah and family photos and mementos. But how should you decorate when wanting to sell? Here are some simple tips to decorating your home during the holidays when your house is on the market. Clean and stage your home. Clear the clutt ..read more

For those who think so, Louisville ranks top 5 for largest yards. by MIKE HALL, Owner/Agent/Broker Do you watch those HGTV shows where they makeover someone’s backyard into a beautiful oasis? Do you want a big yard for entertaining or kids to play or space for a garden? Well, living in Louisville gives you more of an opportunity to have those wishes come true. According to StorageCafe, Louisville is one of the top 3 cities with large lot sizes among the 50 largest cities in the U.S.; Nashville, Tenn., topping the list.[1] With a median lot size over 10,000 sq. ft., Louisville is among the top ..read more

Avoid these common mistakes when purchasing your home by MIKE HALL, Owner/Agent/Broker In late August, mortgage rates hit a 22-year high with a 30-year fixed rate home loan averaging 7.23%.[1] With these rates, lower inventory, and inflated prices, some may delay purchasing a home. But if you are in the market, don’t let your anxiety and fear keep you from buying. Avoid these common mistakes when purchasing your home.[2] Trying to time the market. Just like stocks, the housing market ebbs and flows. Don’t try to figure out the perfect time to buy because conditions will always change. Worryin ..read more

Sink or Swim by MIKE HALL, Owner/Agent/Broker It’s summer and in the Ohio River Valley that means and hot and humid days. And for many it means spending time outdoors, whether kayaking, hiking, barbecuing, or swimming. Adding a pool in your backyard may be more convenient as opposed to a public pool, but does it add value to your home when you want to sell? The answer isn’t simple. The value is very dependent on the current housing market and if buyers see it as an asset. What are the costs? Pools are expensive. While an above-ground pool is significantly cheaper to install than an in-ground ..read more

Stage your home for future buyers by MIKE HALL, Owner/Agent/Broker Whether it’s a job in a different city, upgrading for an expanding family, or downgrading for retirement, you’ve decided to sell your current home. Do you know how to optimize your home’s appearance to get more showings and offers? Louisville buyers want to be able to visualize themselves in your home. Declutter, de-personalize, and spruce up are the general guidelines to selling. Read the previous blog on spring cleaning tips and follow these recommendations to stage your home. Pare down and rethink furniture placement. Movin ..read more

Secure your home and yourself by MIKE HALL, Owner/Agent/Broker You’ve finally purchased your first home. You want to make sure that your home is safe and secure. We get asked a lot about services to enhance your home and after being in business for many years, Red Edge agents have seen a lot. When it comes to security systems, there are several options available for Louisville homeowners. You can subscribe to a security system service, such as ADT or Vivint. These can be all-inclusive providing not just the equipment but also 24/7 monitoring of potential issues. Prices vary for the amount of ..read more