What Every Seller Should Know About Today’s Home Buyers

There are more ways to buy a home today than ever before. It’s crazy! In the past, people generally hired an agent or went it alone. Today, we still have those options but now there are many more choices down both paths. If you’re thinking about selling your home this year (or in the future) keep reading. This expert advice will help you better understand what’s happening in in the minds of today’s home buyers.

Photo of a beautiful neighborhood of homes - What Every Seller Should Know About Today's Home Buyers
Do you think home buyers will be able to find your home’s listing online?

Online Is Where It’s At

Today, everything is online. Agents know this. Buyers know it. Every home seller should know it too!

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When Is the Best Time to Sell a House?

My clients will routinely ask this question: “When is the best time to sell a house?”

There really is no “best” time. But if you follow these real estate best practices and take advantage of current, local data, you will improve your chances to get a quick sale at top dollar. This expert advice is designed to help you assess your situation and make an educated decision based on both your financial data and your personal goals.

Photo of a gorgeous home: When Is the Best Time to Sell a House?

To Move or Not to Move?

Before we get to the professional recommendations, the very first question you ask is whether or not you should sell your house at all? This is important because each time you sell (and then buy) there are costs built into each transaction. For the most part, these costs are pure waste. That means, the longer you are in the same home, the better off your financial situation will be.

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Overview of Waste Disposal in Louisville

Each day, you generate a variety of different types of waste. During the course of any given year, you may end up not only disposing of what fairly can be called everyday garbage and recyclables but also the hazardous waste of different types. Maybe you’re thinking about selling your home this winter and need to get rid of some “junk.” A basic understanding of the different ways in which various types of waste items are disposed of in the city. When it comes to waste disposal in Louisville here are the 8 categories in which waste is disposed of.

  1. Regular garbage or trash
  2. Hazardous waste
  3. Recyclable items
  4. Mattresses, Furniture, and Appliances
  5. Construction waste
  6. Sharps
  7. Biohazardous waste
  8. Medications

Photo of an abandoned building
We would hope your home doesn’t look like this! The owners of this building definitely need some waste disposal help.

1. Regular Garbage or Trash

Garbage removal is the most common waste disposal in Louisville, Kentucky. As it probably is for most cities. Regular garbage or trash is disposed of through the City of Louisville Solid Waste Management Services Division. The agency collects garbage on a weekly basis from residential units with eight units or less. Large residential buildings have to engage a private service to collect regular garbage items.

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Landlord Strategies When a Tenant Commits Suicide or an Unattended Death

Managing rental properties can be difficult at times. Landlords regularly face challenges like unexpected maintenance issues and tenants who fail to pay their rent. While these are unfortunate circumstances, little else is more difficult for a landlord to address than a tenant who commits suicide or there’s an unattended death in their rental property. A landlord must be versed about what strategies to employ when a tenant commits suicide or with an unattended death is discovered.

Photo of three people having a difficult discussion.
Would you know what to do if a tenant committed suicide in one of your rental properties?

Self-Protection Upon Discovery of a Suicide or Unattended Death

Before discussing the need for self-protection upon a discovery of one or another of these types of death, a landlord must understand what is meant by an unattended death. As the moniker indicates, an unattended death is one in which a person dies alone. In addition, an unattended death most often involves the discovery of body days, weeks, or even months after the tenant died. If this is the case and the body is discovered much later by a landlord, the human decomposition process is well underway.

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Home Financing Options for Any Credit Score in Kentucky

Having perfect credit and a down payment of as much as 20% is not always possible. There are financing options that are available for any credit score, especially when you consider FHA mortgages and how FHA home loans work. Especially if your out looking to buy your first home, it’s smart to learn about all of your home financing options.

Photo of a young man comparing home financing options.
It’s smart to do your homework. Comparing home financing option will save you money in the long run.

Knowing what your options are in terms of home loans, mortgages, and everything in between is crucial if you don’t have perfect credit.

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16 Ways to Prepare Your Home for Winter

Your home is likely the largest single investment you will ever make. It’s doubly smart to take care of your home’s value and save money at the same time. Don’t wait for a problem to surface. Be proactive! Follow these sixteen ways to prepare your home for winter now and you’ll be sitting comfortably come the Holidays.

Photo of a home in Winter
When you prepare your home for Winter then you can relax and enjoy the Holidays knowing your investment is protected.

Top 16 Ways to Prepare Your Home for Winter

Let’s jump right in!

1. Increase Insulation

This is number one on our list for a reason. Attic insulation is the most important aspect of keeping your home warm during Winter. Most homes don’t have adequate insulation. So you shouldn’t let your home fail this test too! If you need a recommendation for a great contractor, please let me know. I have a big list of great, local companies if you’re not up for the DIY project.

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Most Expensive Louisville Homes in 2018

Today is the day of our annual jaunt through the most expensive Louisville homes in 2018. I began this pilgrimage in 2015 and have enjoyed the journey. If interested, check out the 2016 and 2017 editions. Seriously though, who doesn’t like looking at amazing homes?!

Photo of staircase in Most Expensive Louisville Homes in 2018
It’s time to get grand!

To begin, here’s our methodology.

  1. We’re only looking at homes that have sold since January 1, 2018.
  2. I’m only considering homes in the general Louisville, Kentucky area. We’re including the Jefferson, Oldham, Shelby, Spencer, and Bullitt counties. Our MLS covers more but I’m not including those.
  3. Lastly, we’re only looking at residential properties. No commercial. No straight land. Just awesome homes sold for big money.

Let’s get started!

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Available Homes for Sale in Louisville KY

When someone says “available homes for sale” what they’re talking about is active listings. The fancy term for that is housing inventory. They all mean the same thing. And to put it bluntly, the available homes for sale in Louisville KY is dangerously limited.

Photo of a home in Clifton Louisville Kentucky by Tre Pryor
This cute home in Clifton represents the kind of property that’s becoming increasingly difficult to find. | Photo by Tre Pryor

It’s almost always to put things in picture form to better communicate the degree to where Louisville’s housing inventory is currently. Even better, let’s break it up into price tiers. After all, if you’re hunting in the $200,000 to $300,000 price range, you don’t really care what’s happening with half a million dollar homes.

Let’s get started!

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Local NBC Affiliate Interviews Tre Pryor for Housing Story

WAVE3 Logo

Third times the charm? I’m not sure, I’ll let you be the judge.

A past client asked me to be on camera and share some Louisville real estate knowledge. This piece by Wave3 anchor David Mattingly is looking at our housing shortage.

Affordable houses in Louisville hard to find

As is typically the case, most of the interview doesn’t make it on air but I was happy to help. At the same time… I hate seeing myself on screen. How does my wife put up with me?

Do I Need a Realtor When I’m Building a House?

Real estate can be a tricky thing. There aren’t any classes about it in most schools but it’s something most Americans are interested in. In fact, 84% of Americans see home ownership as a good investment even though the percentage of ownership has been declining since 2005. So how is building a house different than buying an existing home?

Photo of a couple looking over house plans - Building a house
Dreaming about building your dream house?

When something is as big as “buying a house” you don’t want to mess it up. There are a good number of snags that could really haunt you for years to come.

What about building a house? Isn’t that more straight-forward? After all, the builder is going to make it brand new. What could go wrong?

Well, what if I said, “It costs you nothing to have a Realtor.” Yes, that’s true. Whether you’re buying an existing home or building a house, buyers never pay commissions. Those are paid by the seller or the builder.  It’s just the way it is.

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Relocating to Kentucky: What You Need to Know

Moving is a big deal. Moving to a new state is an even bigger deal! Relocating to Kentucky doesn’t have to be a major problem. With some great advice and proper planning, your move to Kentucky could be the best thing that ever happened to you!

Photo of the Louisville walking bridge by Tre Pryor - Relocating to Kentucky

First, I’ve recently updated my Top 10 Tips for Relocating to Louisville. If you’re moving to Louisville, Kentucky, great! I’m always happy to help. Looking at another city in Kentucky? Just let me know, I might know a great agent who’s an expert in that city.

This article isn’t about specific tips about relocating, like the one linked above. It’s about the bigger picture. It’s about why relocating to Kentucky is a wonderful thing. Once you’ve read it, I believe you’ll feel the same thing.

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Top 5 Spring Home Improvement Projects

Spring is a great time of the year. If you’re a homeowner, you already know that there will be some jobs waiting for you once the harsh Winter weather is past. These “jobs” are very important. Some are simply maintenance that you’ve always known your home needs. Some spring home improvement projects are more involved. In either case, you’ll be glad you took the time and money to tackle than to protect or even enhance the value of your most valuable investment—your home.

Photo of a beautiful deck Photo by Tre Pryor
Spring is the perfect time to improve your deck! Once Summer arrives, you’ll be glad you did.

As we leave colder temps in the rear-view mirror, here are the top five spring home improvement projects that will help you and your home.

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Most Expensive Homes in Louisville Kentucky

It’s that time again! Each year I track the most expensive homes in Louisville Kentucky. These are homes that are sold, not houses that have stayed with their current owners. If that were the case, it’d be the same homes each time and that’s no fun.

Last year we saw properties from the $1.32 million house on Belknap Beach Road all the way up to the 170 acres tract of land that sold for $2,150,000. I’m wondering if we should include land in our survey. What do you think? No? Ok, sounds good.

Going forward, no land, only the cream of the crop, most expensive houses… wait, what about condos? I mean, if one of these penthouse apartments in Waterfront Park Place or The George sold for more than a million, we’d want to see that, right? Yes? Great! I love that we’re all on the same page.

Let’s go!

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Picking March Madness Brackets: Choker’s Index 2018

Photo of Iowa St basketball players
Iowa State will not be in this year’s NCAA tournament (dead last in the Big 12) but if they were, you’d be wise to not pick them in your brackets.

It started out as a simple experiment. Which NCAA men’s basketball teams historically choked the most. It has now become a yearly obsession. Picking March Madness brackets is now an annual ritual—one that comes with fierce emotions. These emotions strongly pull most fans to move their team forward in the tournament while X’ing off the teams they hate.

Don’t let emotions rule you. You’re better than that! Use data instead.

With that in mind, I present the 2018 Edition of the Choker’s Index. What is the Choker’s Index you say? Well, I’m glad you asked.

The Choker’s Index began in 2013. Each year after I added a bit more.  Last year I published this piece right here on TrePryor.com, even though college basketball is a far cry from Louisville real estate. I say, “Adios!” to convention.

This year, I’ve updated all the data that stretches back to the beginning of the expanded NCAA field in 1985. Here are the criteria:

  • I’m only looking at schools who’ve made the tournament at least 15 years. Here are the 11 teams I added this year: Georgia Tech, Iowa, Iowa State, LSU, Marquette, N. Carolina State, Stanford, Utah, Virginia, W. Virginia and Wake Forest.
  • The Index is weighted. Opening rounds games count the most, and as the tournament progresses, the factor is reduced slightly each round.
  • When you are a higher seed and lose that’s the only thing that matters. Losing to a better team doesn’t affect the team’s Choker’s Index.
  • The bigger the defeat, the more it costs you! If you’re the #1 seed and you fall to the #2 in the fourth round, that only costs you a half-point. No biggie. But when the #15 knocks out the #2 in the opening round, that’s 13 points!

Biggest Upsets in NCAA Tournament History

Speaking of which, here are the biggest upsets (choke jobs) in the history of the NCAA Tournament! I’ve linked up some video highlights on those game scores. Enjoy!

YearChokerUnderdogGame
1991SyracuseRichmond69-73
1993ArizonaSanta Clara61-64
1997South CarolinaCoppin State78-65
2001Iowa StateHampton57-58
2012MissouriNorfolk State84-96
2012DukeLehigh70-75
2013GeorgetownFlorida Gulf Coast68-78
2016Michigan StateMiddle Tennessee State81-90

Choker’s in the 2017 NCAA Tournament

So before we get to the updated index, let’s see who laid down last year. Who wet the bed? Which teams simply laid an egg?

As it turns out, 2017 wasn’t a big year for upsets with just 7. Seeds held strong, even though all the experts thought the tournament was wide open. Go figure.

But here’s who did choke last year:

  1. Arizona (2) lost to Xavier (11) in the third round: -6
  2. Villanova (1) lost to Wisconsin (8) in the second round: -5.9
  3. Maryland (6) lost to Xavier (11) in the first round: -5
  4. Duke (2) lost to S. Carolina (7) in the second round: -4.2
  5. Louisville (2) lost to Michigan (7) in the second round: -4.2
  6. Florida (4) lost to Wisconsin (8) in the third round: -2
  7. Kansas (1) lost to Oregon (3) in the fourth round: -1

Putting all those together only results in a Choker Index of 28.3 for the year. Lame! It’s just a little better than the lowest year on record—a -19.2 index points in 2007.

We want more upsets. How about this year we see another year like 2001 where the index sky-rocketed up to 78.12! Let’s go underdogs.

The 2018 Choker’s Index

Ok, enough of the preliminaries, let’s get the chart so you can know who not to select when you pick March Madness brackets this year. This year I kept the negative sign so that we can better see that it’s a problem a large number next to your favorite team’s name. The Choker’s Index is the average

2018 Choker's Index
Here’s the updated Choker’s Index for 2018 so you can pick your March Madness brackets with confidence.

So we see some newcomers rise to the top of the list. Last year’s report went Missouri, Notre Dame and then UCLA. Now we’ve got Iowa State, Missouri, and West Virginia. It’s crazy because West Virginia doesn’t choke often, just 20% of the time but when they do… look out!

The inverse is Iowa State who only choked 3 games out of their 18 tournament appearances but 2 of those were massive choke jobs.

The average Choker’s Index for all the of teams in this report is -4.07, which is where the red line lives.

It’s really up to you whether to devalue teams that choke more often or those that perform the biggest chokes.

Fun Facts

  • Average Number of Upsets Per Year: 8.82
  • Biggest Upset Year: 2006 (17 Upsets)
  • Average Choker Index Total Per Year: 34.22
  • Largest Choker Index Total: 2001 (78.12 Choker Index Points)

So there you have it. Go forth and win your bracket contest!