Kyle Wohrle
Kyle Wohrle
ABR, SFR, 5-Star REO
(502) 819-2592 (c)

Southern Indiana and Louisville Real Estate Blog by Kyle Wohrle, Realtor

Why Following The Golden Rule is Important When Negotiating a Property

Following the "Golden Rule" (Doing unto others as you would have them do to you) when negotiating a property can make a huge difference between a successful transaction and a nightmare. Here is a case to consider:

Earlier in the year, I was working with a buyer who made a lot of excessive demand on her offer to the seller. After a lot of back and forth, we were finally able to negotiate terms that both parties were agreeable to; although, the buyer did end up with a better deal. During the home inspection process, the buyer then returned with a very long list of items they wanted the seller to make.  Some of the items were legitimate while others were just piddly, cosmetics that were common for any house built in the time period. The buyer absolutely refused to yield on any of the items and insisted the seller make ALL repairs noted on the inspection report. The seller's agreed and the transaction moved forward. In the mean time, the seller received and accepted a back up offer.

About three weeks into the process, I received notification from the buyer's lender that the underwriters were experiencing a backlog and were not going to be able to close by the contractual deadline. This is when the tables turned in favor of the seller. So, we approached the sellers and requested an extra 7 days and the sellers said NO. From the seller's prospective, the sellers had already gone above and beyond meeting all the buyer's demands. 

Unfortunately, because the seller refused to extend the contract, this deal did fall apart and the buyers ended up on the loosing side. The buyer were out the cost of their home inspection, the cost of their appraisal, and lost their good faith deposit. Furthermore, the buyer's had already given notice to their landlords and were also now going to be forced to find a new place to live because the landlord had already secured a new tenant.

If the buyer's had followed the Golden Rule during negotiations,...

What Overpricing REALLY costs you when selling

There is one piece of advice that any professional REALTOR® will tell you and that is, "Don't overprice upfront". When you do, it takes longer to sell and will sell for less. Unfortunately, home owners don't always welcome the feedback and overprice anyway.

There are a lot of reasons why a home owner overprices a property but unfortunately, most of the reasons never take current market into consideration. The most common reasons I hear are

  1. My home is better than all the others - Well yes, your home is nice but it still must appraise and when an appraiser looks at your home, the appraiser uses comps from your neighborhood. Appraisers won't award extra money on an over-improved property.
  2. I want a return on my investments and upgrades - Yes, the extra's do add a nice touch and definitely make your home more marketable. However, they contribute very little to resale value. It all goes back to being over-improved for the neighborhood.  If you are considering an upgrade, speak to a REALTOR® first. Often, you will learn that the cost exceeds the return.
  3. Buyers want to negotiate - Yes, buyers to like to negotiate. But, if you are priced to high then you won't get any buyers thru the door to even look.
  4. The real estate agent just needs to work harder to get it sold -  There are three components to a successful sale; Price, Staging, and Marketing. The REALTOR® controls the marketing piece. However, the home owner plays an important role with price and staging. No matter how hard the REALTOR® works, an overpriced or unstaged home will always make it a difficult sale. During the listing consultation, I walk the property with the owner and put on...

Why the Loan Pre-Approval is Important

The markets have shifted back into the seller's favor which means that any serious home buyer needs to earn a solid loan preapproval letter from a reputable lender. if you are not sure where to begin, call me. I am happy to share a list of local lenders with proven success records.

During my initial consultation with new buyer clients, I always ask for a copy of the loan prequal letter up front. There are many reasons why a professional makes this request.

  • It shows the Realtor that you are a serious buyer
  • It provides important information the Realtor needs in order to help you locate your next home. It will identify your loan type and your budget. Not all homes will be suitable for all loans. For example, you may be searching for a "fixer upper" which means FHA 203B and VA financing would not qualify. 
  • The letter is needed when you submit an offer. Homes are selling fast so when we find the perfect house, you need to be ready. Buyer competition is fierce right now.

Preapproval vs. Prequalified

When speaking to a lender, be sure to get preapproved, not prequalified. Prequalification is an initial assesmeant done over the phone and isn't worth the paper its printed on. A preapproval goes deeper and involves a critical look at your credit score and financial ability. Once you get the preapproval, you need to start the home search quickly because they typically expire after 120 days.

In closing, when a Realtor asks for a preapproval, don't feel insulted. It's always the first step towards home ownership.

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Visual Map of my 2014 Sales

Kyle Wohrle 2014 Sales Map


How to Organize your Fridge

An open refrigerator

How to Organize Your Refrigerator

Leftovers gobbling up space in your refrigerator? Here are some tips for keeping things organized, efficient, and tasty. Read

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Tips for buying investment properties in a HOT market

The real estate markets are improving as the foreclosures decline and buyer confidence increases. These make for tough times for the property investor looking for his/her next flip. Here are some tips to make investor offers stand out from the crowd:

  1. Use cash and have a proof of funds statement, no older than 30 days, readily available. 
  2. Waive your inspections. There is greater risk BUT when all other factors are the same, a buyer will choose the contingency free offer.
  3. Be willing to close FAST.
  4. Keep your offer clean. No contingencies and make it a simple "as-is" purchase.
  5. If purchasing an REO (Bank Owned Property) or shortsale then work with an agent who specializes in that market. These transactions can be night and day different from traditional deals and require more knowledge and care.
  6. Don't work with multiple real estate agents. Find an agent you trust and ask them to be on your team. A good agent will be able to connect you with reputable title companies, lenders, and contractors.

If you are in the market for an investment property, then call the Kyle Wohrle team 502-819-2592. We specialize in REO, foreclosures, and shortsale transactions in Southern Indiana and Louisville Kentucky.


Wait, my offer was higher BUT wasn't accepted? What gives??

It seems that buyers are getting "Highest and Best" notices more frequently and when the buyer's offer is not accepted, they are left wondering why. The offer process is complex with many facets. There are many things to consider when making an offer, especially when facing a "Highest and Best" scenario. 

  • Loan type - the type of loan a buyer uses can impact a seller's decision because some loans have higher success rates of closing or have less red tape. The loan the buyer is using may not work for the particular house, depending on location and condition.
  • Good Faith Deposit - a buyer with a higher good faith deposit is seen as a stronger buyer. 
  • Down payment - a higher down payment signals the seller that the buyer is strong and serious. A higher down payment usually means an easier loan process. 
  • Contingencies - An offer with excessive contingencies weakens the buyers bargaining power. Does your offer ask for inspections, appraisal, finance, or first right of refusal contingencies? 
  • Low Ball Offers - Sellers are emotionally tied to a property. If a buyer's intial offer was low then a seller may feel insulted and choose to stop negotiations with that buyer. 
  • Loan Prequal vs. Loan Preapproval - Buyer's who take time on the front end to secure an actual preapproval are must stronger buyers in the eyes of a seller. A loan prequal just wont cut it. As a buyer, you need to show...

Berm houses and why they're AWESOME

Berm homes are truly a rare gem and are often misunderstood. People typically think of "cave" homes that are dark and dank. However, this couldn't further from the truth! Modern berm homes are constructed in ways that allow lots of natural light, have plenty of living space, full size windows in every room, and provide superior energy efficiency. 

The berm home is easily identified because of the unique exterior appearance. It looks like a ranch home that's been nestled into the side of a hill.  The exposed front of the house, usually faces south, allows the sun to light and heat the interior. This berm, currently listed for sale, can be found in the beautiful town of Palmyra. The serene setting provides the ultimate "get-away" from the hustle and bustle of city life. 

.Berm Home Listed by Kyle Wohrle

Berms have many benefits:

  • Save up to 80% in heating and cooling costs
  • Lower maintenance 
  • Safety from storms and tornadoes 
  • Comfortable interior climate year round

Financing options are available for berm homes thru local credit unions, regional banks, USDA, and FHA. Interested in a berm, give me a call and lets talk.

-Kyle Wohrle


Foreclosures - Not Always the Best Choice for 1st Time Buyers

I’ve been marketing and selling foreclosured homes for almost 10 years in the Southern Indiana and Louisville Kentucky region and I’ve seen some amazing deals and buyer opportunities. However, buying a foreclosed property is not for the faint of heart. Buyers need to work with a Realtor® who’s experienced with foreclosures (and not just a Realtor® who has sold a few here and there). 

First and foremost, BUYER BEWARE when purchasing a foreclosed home. The bank who owns the property doesn’t conduct inspections or do a title search beforehand and seldomly know of any underlying defects.  In many jurisdictions, the bank doesn’t legally have to complete a seller’s disclosure.  Anyone looking to buy a foreclosed home is highly encouraged to have a 3rd party home inspection and should also buy owners title insurance.

I often get phone calls from first time buyers who are seeking a “great deal”. They’re armed with information from late night TV shows, friends, and family members that foreclosures sell for pennies on the dollar. The truth….foreclosures do typically sell below market value, but not at the deep discounts portrayed on TV. Banks initially list a home based on a recent appraisal and/or a Broker Price Opinion which takes into consideration the current condition of the property, the current market penetration, over supply/demand for the neighborhood, and the area unemployment rates. Property that is undervalued at the initial listing is often bid up by multiple offers and will sell above list price.

Securing a loan on many foreclosed homes is a challenge because the property has deferred maintenance. FHA, VA, and USDA loans require the home to be in good, maintained condition with utilities active. Conventional loans insured thru Fannie Mae and Freddie Mac is slightly less strict on condition but will require a significantly higher down payment to qualify.


Hillcrest Ave, Louisville, KY - A Haunted Adventure

Every Halloween season, the residents of Hillcrest Avenue in the Crescent Hill Neighborhood of Louisville Kentucky create a "spook-tacular" display of Halloween decorations. You'll find all sorts of fun themes from zombies, ghosts, aliens and UFO's, to Charlie Brown. Drive down one evening, park for free, and take a fun stroll. You won't be sorry.

Hillcrest Ave

Hillcrest Ave

Want to be a part of this wonderful neighborhood? Click here to see all the wonderful Crescent Hill homes currently listed for sale.


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Kyle Wohrle
ABR, SFR, 5-Star REO (502) 819-2592 (c)