Buying A House On Cash Or Through Bank Financing: Which Way To Go

Now that the real estate market is back in full swing, there is now a growing market for first time home buyers who want to take a bite and become home owners. Being a first time home buyer, there are so many questions to be asked. Even where to start becomes a question when it comes to buying a house and lot. One of the biggest factors in considering which house to buy is the available financial resources you currently have and the amount of money you can put into the monthly mortgages. For some first time home buyers, it can be really hard to secure a housing loan because they do not have collateral they can use to secure a loan or their credit ratings are not up to par yet with the minimum requirements set by local commercial banks. So, with this in mind, they start to shy away from buying a house and lot. For other people, they have already set a good amount of savings in their bank accounts and have made enough sacrifices to buy that first house to call their own. Is it better to buy a house using cold cash or through bank financing?

Buying A House Using Cash 

If you already have a sizeable amount of money saved and ready to splurge on that first house and lot, now would be the best time to check around property listings so that you know current prices of houses for sale in your chosen area. As a good tip, make sure to choose an area that you think you would want to live in and compare houses around that area. See the lowest priced homes and the most expensive ones. When you are able to compare the prices of houses for sale, it will be easier for you to decide how much you actually want to spend. A plus when you buy houses on cash is that most sellers will likely shave off a few thousand dollars from their asking price and everything will be easier to settle. 

Buying A House Using Bank Financing 

This is by far the most common way to buy a house these days because honestly, most people are not willing to part with a lump sum of money right away or they do not have the huge amount in their hands. Do not worry because this is perfectly fine. As a tip, make sure to contact a licensed real estate agent in your chosen area so that they will be able to help you out throughout the whole process.  You will also have all your questions answered thoroughly by them. It would also be best to write down everything on paper about any questions you come up with and even discuss these with the bank representative who will be handling your housing loan application. Be prepared to deal with a ton of paperwork and filing and also to give ample time before your loan gets feedback. 

Buying a house and lot is always a huge purchase; therefore, do not feel let down if some steps may be taking too long or your housing loan takes forever to be approved. Use this time to clear out your house and even set up a garage sale if you are sure that you will be moving out soon. Good luck on your house hunt!

Shawn Paul – Staying True to The Business Of Flipping Houses in Elizabethtown, KY

While the business of real estate may seem stagnant these past few years, there is a lot of hope for the residents of Elizabethtown, KY. Money may be tight and that is understandable because we are just recovering from the economic hardships that have swept across the nation. But, even if today does not look like a fruitful day, one must always stay true to their dreams of a better future. This is what Shawn Paul, a realtor at HardinHomes.com and someone who specializes in flipping houses for a living is doing. As someone who has been in the business of flipping houses well over 4 years, he knows that one must take into great care when buying and selling houses.

What is Flipping Houses?

Basically, flipping houses is when you buy a property that is priced well below market value and either renovate it or break it down and build it back to brand new condition. It sounds pretty straight forward but according to Mr. Paul, he claims that, “buying the right one and selling it at the right price” can be a very daunting task and this has always been his biggest challenge in this business. He says that one must invest a lot of time and money in order for this business to become very lucrative. You must also have a lot of “general knowledge in construction costs and understanding of the math and financial numbers where the pricing will be.”

Challenges You Will Face When Flipping Houses

There are many challenges one will face when flipping houses but so far, Mr. Paul says that, “he’ll be glad to help” if anyone wants to ask for advice from him. You have to know how much items cost and understand the whole gamut of things before you can really market the property you are working on to be a profitable one.

Future Of Real Estate In Kentucky

Mr. Paul wishes the economy could get better when it comes to the real estate market and hopefully it will since right now it is experiencing a buyer’s market wherein prices of homes are selling way below their fair market value. This can mean that more people are willing to let go of their investments and hard work for a lower price.

Advice For People Who Want To Get Into Flipping Houses

This business of flipping houses basically sounds enticing to many people because of its “extreme profitability” as said by Mr. Paul but it will take a lot of time and money on your part as well. He is open to anyone who wants to get advice from him when it comes to getting the right properties to flip and rebuild.

Flipping Houses For Mr. Shawn Paul

Indeed, this man of great personality stands firm in his ways of flipping houses and wishes people to get more interested in it if they have the proper resources and funding… so that their future will be brighter. 

If you are interested in flipping houses, do a quick home search to check out some of the real estate for sale in Elizabethtown, KY.

To speak with Shawn Paul to ask questions or find your own flip, call, text, or email 270-401-1223 ShawnPaul@HardinHomes.com

When Should I Sell My Elizabethtown KY real estate? Spring, Summer, or Winter?

When is the best time to sell your Elizabethtown KY real estate? Typically, when you need to. There will always be a market of buyers.

The seasons can have an effect, though. Winter, for instance, is generally not the busiest time for Elizabethtown Kentucky real estate buyers, but on average the inventory of homes for sale during the winter tends to be a little lower. That may actually work in your favor. Yours may be the one piece of Elizabethtown real estate that’s quickly snatched up for reasons that have nothing to do with the time of year.

If you can wait, late spring is probably a more ideal time to list your home. Some Elizabethtown KY real estate sellers think listing early, say in March, will give them a head start. They might be gearing their listing toward spring break shoppers. Sometimes though, the weather can change dramatically and quickly in March. A storm can stop buyers from venturing out to look at homes.

Sell Dates Versus Closing Dates
Also to be considered, Elizabethtown Kentucky real estate buyers generally want a 30 to 60 day closing, so listing in March may attract buyers that want to close in April/May. If you don’t want to move until your children have finished school, March may be actually be a good time to sell. Of course, you can try to negotiate the date of your choice. If children’s schedules aren’t a factor, if you’re moving within the same school zone, or if you have an urgent reason for needing to sell, selling early in the spring won’t hurt you.

April or May are often a better choice, because snowfall has ceased, buyers will be more motivated to venture out to view Elizabethtown KY real estate. Those who want to move during the summer will often begin their search in these months.

Just a tip: If you’re planning to close at the end of your child’s school year, give yourself transition time. If your children have exams, are involved in special events, graduations, and so forth, it will be a busy time for the family and probably not the best time to be packing up the student’s belongings. Perhaps closing a week or two after the school year ends is worth negotiating.

Yes, a sale is important, but as a seller, it’s still all in your hands. Do what works best for you. That’s what negotiation is about; finding the best or most workable scenario for both the seller and the buyer.

The Importance of Trends
Contrary to thinking, being first on the market to list your house isn’t necessarily ideal. It can be advantageous to use other sellers’ scenarios as case studies. Once the Elizabethtown real estate market becomes speckled with more homes for sale, your agent will hear important feedback and be able to gauge what’s happening with buyers. She’ll be more knowledge about the current buyer trends and better able to advise you on how to price your home for a quick sale. If your price is right, for current demand, your home will sell. If you're asking too much then you will wait. Be sure to factor that into your timeline.

If your neighbor decides to start off early at listing his house, perhaps at a high price, his house may be by-passed. New shoppers may not be in a hurry to snatch up the first thing they see. Until they’ve been able to compare with others, they may feel the home is over-priced. Listing when the Elizabethtown KY real estate market starts moving may be a better option.

Of course, there’s always a veteran shopper who’s been waiting for just the right home to come on the market. Yours might be it. There are no hard and fast rules about how houses sell.

Certainly a discussion about demand wouldn't be complete without talking about Fort Knox. We can't forget how important of a role Fort Knox plays with regard to the Elizabethtown KY real estate market. If Fort Knox is not moving soldiers in, then the market will be pretty flat as far as demand is concerned.

If you need to sell or are just toying with the idea, talk to us about the Elizabethtown KY real estate market. The more information you have, the better equipped you’ll be to sell your home quickly.

First Time Home Buyer Tax Credit Update 2009

A few things to note:
* It's $8,000 not $15,000 that was almost passed.
* No longer has to be repaid like the previous tax credit.
* It's still only for first time homebuyers.
* Must buy between 01-01-2009 and 12-01-2009

Mortgage Rates lowest in 37 years

Freddie Mac started its interest rate survey in 1971 and the current rate of 5.17% (national average) is the lowest ever. Coupled with many motivated sellers and today's rate, it's a great time to buy.

Source WSJ

Hardin County Kentucky Real Estate Market Statistics (Q3)

Third Quarter Fort Knox Kentucky Housing Market Area Report*

377 homes sold (440 third quarter 2007)
674 new listings (454 third quarter 2007)


*Market area includes 4 Hardin County cities/towns Elizabethtown, Radcliff, Vine Grove, and Rineyville. All residential house styles are included except mobile homes and modular homes. Multiple Listing Service (MLS) data from Heart of Kentucky Association of REALTORS (HKAR).

Hardin County Kentucky Real Estate Market Statistics (Q2)

Second Quarter Fort Knox Kentucky Housing Market Area Report*

273 homes sold (331 second quarter 2007)
500 new listings (480 second quarter 2007)


*Market area includes 4 Hardin County cities/towns Elizabethtown, Radcliff, Vine Grove, and Rineyville. All residential house styles are included except mobile homes and modular homes. Multiple Listing Service (MLS) data from Heart of Kentucky Association of REALTORS (HKAR).

Hardin County Kentucky Real Estate Market Statistics (monthly)

June Fort Knox Kentucky Housing Market Area Report*

90 homes sold (down from 96 last month)
170 new listings (up from 151 last month)

RESULT: Worsening over last month.


*Market area includes 4 Hardin County cities/towns Elizabethtown, Radcliff, Vine Grove, and Rineyville. All residential house styles are included except mobile homes and modular homes. Multiple Listing Service (MLS) data from Heart of Kentucky Association of REALTORS (HKAR).

Radcliff Kentucky Real Estate Market Statistics (weekly)

June 22-28 Radcliff Kentucky Housing Market Area Report*

28 homes sold
37 new listings
25 homes went pending (under contract)

*Market area includes 4 Hardin County cities/towns Elizabethtown, Radcliff, Vine Grove, and Rineyville. All house styles are included except mobile homes and modular homes. Multiple Listing Service (MLS) data from Heart of Kentucky Association of REALTORS (HKAR).

Vine Grove Kentucky Real Estate Market Statistics (weekly)

June 15-21 Vine Grove Kentucky Housing Market Area Report*

21 homes sold
39 new listings
20 homes went pending (under contract)

*Market area includes 4 Hardin County cities/towns Elizabethtown, Radcliff, Vine Grove, and Rineyville. All house styles are included except mobile homes and modular homes. Multiple Listing Service (MLS) data from Heart of Kentucky Association of REALTORS (HKAR).

Elizabethtown Kentucky Real Estate Market Statistics (weekly)

June 8th-14th Elizabethtown Kentucky Housing Market Area Report*

15 homes sold
35 new listings
21 homes went pending (under contract)

*Market area includes 4 Hardin County cities/towns Elizabethtown, Radcliff, Vine Grove, and Rineyville. All house styles are included except mobile homes and modular homes. Multiple Listing Service (MLS) data from Heart of Kentucky Association of REALTORS (HKAR).

Radcliff Kentucky Real Estate Market Statistics (weekly)

June 1st-7th Radcliff Kentucky Housing Market Area Report*

22 homes sold
50 new listings
28 homes went pending (under contract)

*Market area includes 4 Hardin County cities/towns Elizabethtown, Radcliff, Vine Grove, and Rineyville. All house styles are included except mobile homes and modular homes. Multiple Listing Service (MLS) data from Heart of Kentucky Association of REALTORS (HKAR).

Hardin County Kentucky Real Estate Market Statistics (monthly)

May Fort Knox Kentucky Housing Market Area Report*

96 homes sold (up from 87 last month)
151 new listings (down from 178 last month)

RESULT: Improvement over last month.


*Market area includes 4 Hardin County cities/towns Elizabethtown, Radcliff, Vine Grove, and Rineyville. All residential house styles are included except mobile homes and modular homes. Multiple Listing Service (MLS) data from Heart of Kentucky Association of REALTORS (HKAR).

Things that will sell your Hardin County house

As complicated as real estate is, there are really only two things that will sell your Hardin County Kentucky house, price and exposure.
"Two things, but what about everything else? Aren't condition, location, and supply/demand important?". They are important but those should be factored into the price. For the amenities (beds/bath, finished basement, etc), square footage, supply/demand, and location, your house has a selling (value) range. The condition is what will determine where your house will sell within that range. If you have deferred maintenance, poor curb appeal, and/or a cluttered home then you could be at the bottom of your home's value range. If you want to sell in the shortest time and receive the most money for your home near Fort Knox Kentucky then you should hire an appraiser. An appraiser will cost roughly $250 but will save you time and money.

Exposure is the other thing that will get your house sold. Even if your house is priced way too low, it still won't sell if no one knows about it. On the other hand your home could have the best exposure available and if it's priced too high it won't sell either. The MLS is the most important exposure tool available, the internet is a close second. 84% of home buyers use the internet during their home search.

So if you're asking yourself "Why isn't my home selling?" take a look at your price and evaluate your exposure.

Hardin County Kentucky Real Estate Market Statistics (monthly)

April Fort Knox Kentucky Housing Market Area Report*

87 homes sold (up from 68 last month)
178 new listings (up from 156 last month)

RESULT: Similar to last month.


*Market area includes 4 Hardin County cities/towns Elizabethtown, Radcliff, Vine Grove, and Rineyville. All residential house styles are included except mobile homes and modular homes. Multiple Listing Service (MLS) data from Heart of Kentucky Association of REALTORS (HKAR).

Hardin County Kentucky Real Estate Market Statistics (Q1)

First Quarter Fort Knox Kentucky Housing Market Area Report*

181 homes sold (239 first quarter 2007)
550 new listings (354 first quarter 2007)


*Market area includes 4 Hardin County cities/towns Elizabethtown, Radcliff, Vine Grove, and Rineyville. All residential house styles are included except mobile homes and modular homes. Multiple Listing Service (MLS) data from Heart of Kentucky Association of REALTORS (HKAR).

Hardin County Kentucky Real Estate Market Statistics (monthly)

March Fort Knox Kentucky Housing Market Area Report*

68 homes sold (down from 69 last month)
156 new listings (down from 193 last month)

RESULT: Improvement over last month.


*Market area includes 4 Hardin County cities/towns Elizabethtown, Radcliff, Vine Grove, and Rineyville. All residential house styles are included except mobile homes and modular homes. Multiple Listing Service (MLS) data from Heart of Kentucky Association of REALTORS (HKAR).

Hardin County Kentucky Real Estate Market Statistics (monthly)

February Fort Knox Kentucky Housing Market Area Report*

69 homes sold (up from 44 last month)
193 new listings (down from 201 last month)

RESULT: Improvement over last month.


*Market area includes 4 Hardin County cities/towns Elizabethtown, Radcliff, Vine Grove, and Rineyville. All residential house styles are included except mobile homes and modular homes. Multiple Listing Service (MLS) data from Heart of Kentucky Association of REALTORS (HKAR).

Importance of Real Estate Appraisals for Hardin County Home Sellers

Are you planning to sell your Hardin County Kentucky home? Do you think you know how much it's worth on the open market? Many sellers make the mistake of trying to estimate the value of their homes themselves. This is almost always a bad decision, because homeowners tend to be very emotionally invested in their homes. They almost always assume their dwellings are worth top dollar in their current condition, and this is rarely the case. Your real estate agent will be able to estimate the selling price of your home. However many factors impact Fort Knox Kentucky real estate value, and a professional opinion from an appraiser is likely to yield the most accurate picture of fair market value for any piece of real estate.

Of course you know how much you paid for your Kentucky home. You also know how much money, time, and energy you have invested in improving the property over the years. You probably also have a good idea about the asking price and sales prices of other homes in your neighborhood and the Fort Knox area. However, this type of information doesn't tell the whole story about the value of your home. While these details are useful and interesting, they really can't replace the benefits of a professional real estate appraisal when you're trying to decide on the best listing price for your home. Local appraisers are looking at Hardin County property on a daily basis and they are the experts.

As soon as you decide to put your home up for sale, you should seek professional guidance regarding the true market value of your home. Not only can getting an appraisal help you decide how much to ask for your home in its current condition, the information you learn may help you determine if you should spend some money improving the condition of the property in order to be able to sell it for a higher price. Conversely, you may learn that investing in additional improvements would not be likely to help you sell the home for a greater amount.

It is common for sellers to avoid getting appraisals before listing their homes for sale because they don't want to spend the money (around $250) to have a professional appraiser assess the value of their property. While frugality can be an admirable trait, failing to spend a few hundred dollars on a professional appraisal can result in the loss of thousands of dollars on the sale of your home. If you are listing your Fort Knox home with HardinHomes of RE/MAX Executive Group you will already be saving a ton of money by not paying a huge commission.

If you price your home too high, it isn't likely to sell. If you price your home too low, you won't realize the highest possible return on your real estate investment. Can you can afford to have your home sit on the market for an extended period of time? Do you want watch your home sell for less than it is really worth? If not, it is in your best interest to get a professional appraisal as soon as you decide to sell the property.

Fort Knox Ky Housing market ending strong for 2007

The Fort Knox Kentucky real estate market was a bit slower this summer than it usually is, but it has taken a surprising upturn for the fourth quarter. The HardinHomes Group has increased profits while lowering the cost for Hardin County home sellers to put their homes on the market. HardinHomes is only charging 4% while the typical commission is 5% to 7%. Because the 4th quarter has been so profitable, HardinHomes is rewarding its real estate agents with quarterly bonuses.

Even though some sales people may say "now is the right time to buy or sell" no matter when it is, turns out that the fourth quarter actually is a good time to make a move. It also helps that interest rates are still low.