The RE/MAX Associates Louisville Real Estate Blog

How Bad Advice Can Ruin Your Home Search

Going through life is not an easy task, and along the way you will receive plenty of advice. You will likely receive advice when you’re having a kid, buying a home, even on which furniture to buy. Much of the time it is unwanted, but that doesn’t change the fact you will still be on the receiving end of it.

No matter what the advice is, when it comes to house hunting advice, it could be the totally wrong bits of info. The trick is to determine which advice is worth listening to, and what is not. Once you know, it’s easier to combine the two to make sense of it all. Here is how you determine which advice to listen to.

Consider the source

Look where the advice is coming from. Is it coming from your professional agent or your brother-in-law across town? The answer is quite clear on whom to listen to.

The perk of the agent is they know the market. They know which neighborhoods are hot, what the average prices are in certain neighborhoods, etc. They have the knowledge because it’s their profession. Eddie from the local diner just knows you have to sink some money in your house to get a little more out of the sale. Do yourself a favor and listen primarily to your hired agent.

Apply it, or don’t

If good advice is used in the wrong context, it could quickly turn into bad advice. The moment you decide the advice you received has ground to stand on, it’s your duty to figure out how that applies to you.

Having an agent is one thing, but to have the right agent is another. It’s important to hire an agent who represents the demographic you are in. if you hire an agent who is use to selling multi-million dollar homes; you have the wrong agent- unless you are buying a multi-million dollar home. The agent must understand your needs to sell you the right house. Communicating that you...

Winter Months More Affordable than Summer for Buying

For real estate investors or home buyers, the months to invest are usually best in the fall and winter. This is the time of the year when the best deals are available.

Home prices typically surge in the summer months and drop in the fall and winter. Researchers have taken a close look and found this to be true over the past two years in the 50 largest metropolitan areas using data.

June and July are the months where home prices peak, and the supply of homes is at its height.  Along with this stat, this is also when competition for homes is at its highest.

Once fall hits, home prices drop around 3% usually. This correlates to an $8,300 drop in median home prices. During the winter months is when homes have hit their lowest prices. January and February see home prices drop an astonish 8.45% compared to their highest months in June and July.

Statistically, January has the lowest sale prices in 29 of the top 50 metro areas, and February had the cheapest in 19 areas.

Having the freedom to choose when you want to buy a piece of real estate can end up saving you a chunk of cash. The market statistics strongly show there is a better time to buy a home during the calendar year. If you are looking to save some money, the best time to buy is in the fall and winter. Buy in the colder months right before the market heats up again, you could potentially save thousands of dollars.