By T.W. Shortt | TW Shortt Reports
For decades, residential real estate has operated around one dominant pricing system: the percentage-based commission.
Everything else has changed. Buyers search for homes online. Sellers can review comparable sales, sign documents electronically, market properties across dozens of websites, and communicate instantly with agents and buyers.
Yet brokerage pricing has remained remarkably resistant to change.
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By: Dominic Schroeder, REALTOR
Complex Transaction Specialist at REALTY WORLD Knox Realty Group
When local real estate folks talk about the market, the conversation always hits the same
Point: supply. How many houses are sitting on the MLS? How many are under contract? How
Many closed last month?
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By T.W. Shortt, Principal Broker, REALTY WORLD Knox Realty Group—The Fort Knox Office™
According to a May 29, 2026, blog post published by the National Association of Home Builders, the median price of a newly constructed single-family home was lower than the median price of an existing home during the first quarter of 2026 (Dereski, 2026). Similar conditions are now being reported in housing markets across the United States.
“This is an unusual shift in the housing market,” said T.W. Shortt, principal broker of REALTY WORLD Knox Realty Group—The Fort Knox Office™. “For many years, buyers expected to pay a premium for a newly constructed home. Today, a brand-new home may sometimes be priced competitively with—or even below—a comparable existing home.”
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By T.W. Shortt
Broker, REALTY WORLD Knox Realty Group
Hardin County, Kentucky
Originally published in The News-Enterprise, April 2021. Updated for 2026.
When this article first appeared in 2021, residential real estate markets were moving at an extraordinary pace. Homes often sold within days; inventory was limited, and many people viewed real estate as an attractive new career.
The market for 2026 is different. Inventory has improved in many areas, but affordability, mortgage rates, changing commission practices, and cautious buyers have created a more demanding environment.
An old saying still applies: “Real estate is one of the easiest businesses to enter, but one of the hardest in which to succeed.”
Each state has licensing requirements that include education, background checks, examinations, and affiliation with a licensed broker. A person may be able to obtain a license and enter the business in a brief period, but getting licensed is only the beginning.
A license does not provide customers, listings, experience, income, or a professional reputation.
Real estate also offers several career paths beyond residential sales, including commercial leasing, property management, appraisal, home inspection, investing, training, transaction coordination, and association management. Still, most people begin as residential sales associates.
In 2021, the major challenge was a shortage of homes. In 2026, the challenge is helping consumers navigate affordability, financing, pricing, inspections, negotiations, and changing market expectations.
A new agent needs more than enthusiasm. Success requires a business plan, financial reserves, training, supervision, and patience.
Choosing the right brokerage is especially important. A new agent should look beyond the commission split and ask whether the broker provides training, contract support, written policies, technology, lead-generation systems, and meaningful supervision.
Some new agents may benefit from joining a team within a brokerage. A dedicated team can provide mentoring, structure, administrative support, and leads. However, the agent should carefully review the compensation arrangement, ownership of leads, advertising rules, and what happens if the agent leaves.
Technology has also changed the profession. Buyers and sellers now have greater access to listings, online valuations, virtual tours, electronic signatures, and artificial intelligence. These tools do not eliminate the need for agents, but they do require agents to demonstrate greater value.
The best agents genuinely care about people, understand real estate transactions, communicate clearly, remain calm under pressure, and guide clients toward a successful closing.
Real estate can provide a professional income, but success is rarely immediate and never guaranteed. The business usually rewards those who continue learning, serve the public well, and builds a compelling reputation over time.
Before enrolling in real estate school, a prospective agent should first have an honest conversation with experienced agents and brokers.
The goal is not merely to obtain a license. The goal is to determine whether you are prepared to build a real estate career.
By Doug Witten,
REALTOR at REALTY WORLD Knox Realty Group- KY
If you’ve spent any time watching the news lately, you’ve probably heard plenty about interest
rates. Every time they move up or down, headlines make it sound like the entire housing market
is about to change overnight. It’s easy to understand why many people are asking the same
question: “Should I wait to buy until rates come down?”
The honest answer is: maybe—but maybe not.
One of the biggest financial mistakes I see people make is allowing interest rates alone to
determine whether they buy a home. While rates certainly matter, they should never be the only
factor driving one of the biggest financial decisions of your life.
Instead, start by asking yourself a different question: Am I financially and personally ready to
own a home?
If the answer is yes, then interest rates become just one piece of a much larger puzzle.
Here’s why.
A mortgage interest rate affects your monthly payment, but so do the home’s purchase price,
property taxes, insurance, your down payment, and the length of the loan. Focusing only on the
interest rate can cause you to overlook opportunities that make good financial sense overall.
I’ve seen buyers delay purchasing for a year or two while waiting for rates to drop, only to find
that home prices increased enough to offset any savings they hoped to gain from a lower rate.
None of us has a crystal ball. Trying to perfectly time the market is a difficult strategy, whether
You’re investing in stocks or buying a home.
Life doesn’t always wait for ideal market conditions.
People get married. Families grow. Children start school. Military orders arrive. New jobs create
opportunities. Retirement approaches. Those life events often matter far more than whether
mortgage rates are half a percent higher or lower.
Another important point people sometimes overlook is that mortgage rates aren’t permanent.
If rates decline in the future, homeowners often have the opportunity to refinance into a lower
rate, provided it makes financial sense and they qualify. You can’t usually go back and purchase
the same home at yesterday’s price, but you may have options to adjust your financing later.
That doesn’t mean everyone should buy right now.
If purchasing a home would leave you living paycheck to paycheck or force you to drain every
dollar of your savings, waiting may be the wiser decision. Homeownership should provide
stability and opportunity—not unnecessary financial stress.
Buying because you’re afraid of missing out isn’t a sound financial plan. Neither is waiting
indefinitely because you’re hoping for perfect market conditions.
The best financial decisions are usually made with a long-term perspective.
A home isn’t just another monthly bill. For many families, it’s their largest investment, a place to
build equity over time, and the setting where life’s biggest moments happen. When viewed over
ten, fifteen, or twenty years, today’s interest rate often becomes a much smaller part of the
overall story.
As someone who works with buyers and sellers throughout Central Kentucky, I’ve found that the
families who are happiest with their decision aren’t the ones who bought at the absolute lowest
interest rate. They’re the ones who bought when they were financially prepared, chose a home
they could comfortably afford, and kept their focus on their long-term goals instead of short-term ones
headlines.
Interest rates deserve your attention—but they don’t deserve all of it.
The next time you hear another headline about mortgage rates, take a deep breath. Look at
your own finances, your family’s needs, and your future plans before making a decision.
Because in the end, the best time to buy a home isn’t when the market is perfect. It’s when the
decision is right for you.
By T.W. Shortt
Real estate has always welcomed the newest marketing idea. One generation relied on large Sunday newspaper ads. Another depended on flyer boxes attached to yard signs. Later came the Talking House, a small AM radio transmitter placed inside a home so buyers could hear a recorded description of the property while parked outside.
Each innovation seemed modern and powerful at the time. Each promised to change the business. Most eventually faded and were replaced by websites, online portals, social media, QR codes, and now artificial intelligence.
That cycle will continue. Methods change. Human nature does not.
The most valuable skill in real estate has never been mastering the latest gadget. It has always been understanding people, property, and the many moving parts connecting the two.
Buying or selling real estate is not merely a marketing event. It is often one of the largest financial decisions a family will ever make. It can involve deadlines, uncertainty, legal documents, inspections, financing, negotiations, family concerns, and emotional stress. It may also involve probate matters, divorce-related sales, inherited property with multiple heirs, title defects, low appraisals, boundary disputes, tenant complications, or last-minute lender issues. In those moments, people need more than technology. They need judgment, steadiness, and experience.
That kind of guidance is earned over time.
Over decades in the real estate business, one lesson has become clear: lasting success does not come from sales contests, catchy slogans, or the latest trendy video platform. It comes from showing up year after year, solving problems, studying the market, learning contracts, understanding financing, and helping people through real situations with real consequences.
Experience also means leadership. Over time, professionals see the industry from many angles—brokerage operations, agent development, community involvement, changing markets, and the need to maintain standards while adapting.
Just as important is continued education. Real estate is deeper than many realize. Property values, title history, zoning, land use, negotiation strategy, contract structure, local economics, changing regulations, tax concerns, and investment analysis all matters. Serious professionals never stop learning.
In many cases, attention is drawn to the simpler transaction. Yet experienced practitioners understand that the most meaningful work often comes from complex situations—the ones where clients truly need help and where professional skill is tested.
The seasoned professional does not run from complexity. He welcomes the opportunity to bring order to confusion, calm to stress, and solutions to people who may feel overwhelmed. There is real satisfaction in helping a family settle an estate, guiding a divorcing couple toward a fair sale, resolving a clouded title, saving a transaction after financing trouble, or structuring a workable path through inspection problems and closing delays.
That is the side of real estate rarely shown in modern media.
Much of today’s real estate content highlights quick tours, fast pacing, and attention-grabbing presentations. But the true professional is often found behind the scenes—reviewing documents, coordinating with lenders, speaking with attorneys, negotiating repairs, managing timelines, solving unexpected setbacks, and carrying transactions across the finish line.
A strong marketing campaign may generate attention. Experience is what keeps a transaction together when difficulties arise.
That is why the most valuable asset in real estate is still trust built through years of dedication, education, and practical service. Gadgets will come and go. Trends will rise and fade.
But plain experience, steady professionalism, and the ability to handle difficult transactions will never go out of style.
By T.W. Shortt | TW Shortt Reports
T.W. Shortt is a Hardin County real estate broker, past president of the Heart of Kentucky Association of REALTORS®, and writer of the Focus on Finance column on housing and local economic issues.
The 1991 case of Stambovsky v. Ackley is a pivotal legal precedent in real estate law, particularly regarding the duty of sellers to disclose non-physical defects. The case, often called the “Ghostbusters ruling,” highlights the importance of transparency and full disclosure in real estate transactions.
The case began when Jeffrey Stambovsky, a resident of New York City, purchased a Victorian house in Nyack, New York, from Helen Ackley. Unbeknownst to Stambovsky, Ackley had widely publicized the house as haunted. This reputation was well-known locally and featured in publications such as Reader’s Digest. Ackley, however, did not disclose this information to Stambovsky during the sale.
Upon learning of the house’s haunted status, Stambovsky sought to rescind the purchase agreement. He argued that Ackley’s failure to disclose the house’s reputation for being haunted materially affected the property’s value. The lower court initially dismissed Stambovsky’s claim, adhering to the doctrine of caveat emptor, or “buyer beware.” This doctrine traditionally places the onus on the buyer to discover any defects.
However, upon appeal, the New York Supreme Court, Appellate Division, ruled in favor of Stambovsky. The court held that Ackley deliberately promoting the house’s haunted reputation created a material defect that should have been disclosed. The ruling was groundbreaking because it recognized that non-physical defects, such as a property’s reputation, could significantly impact its value and should be disclosed to potential buyers.
Judge Israel Rubin famously stated in writing for the majority, “As a matter of law, the house is haunted.” This statement underscored the court’s recognition that Ackley’s actions had legally established the house’s haunted status. The ruling allowed Stambovsky to rescind the contract and recover his deposit.
The Stambovsky v. Ackley case set an important precedent in real estate law by expanding the scope of what constitutes a material defect. It underscored that sellers must disclose physical defects and conditions affecting a property’s value or desirability. This includes non-physical factors such as a widely known reputation, even if such factors are based on superstition or local folklore.
For real estate sellers, the case underscores the importance of full disclosure in selling property. Sellers are encouraged to disclose all relevant information, ensuring buyers can make informed decisions. This ruling has influenced disclosure laws across the United States, promoting greater fairness and integrity in the real estate market.
In conclusion, the Stambovsky v. Ackley case is a landmark in real estate disclosure law. The court held that a seller must disclose a condition affecting the property’s value even if a reasonable inspection would not discover it.
Disclaimer: This article reflects the author’s views and is provided for general informational purposes only. It should not be relied upon as legal, financial, tax, or real estate advice. Readers should consult an appropriately qualified professional regarding their individual circumstances.
Copyright 2024 TW Shortt
Before you list, learn your options and potential costs with our Free Kentucky Home Seller Guide.
Thinking about selling your Kentucky home?
By T.W. Shortt | TW Shortt Reports
T.W. Shortt is a Hardin County real estate broker, past president of the Heart of Kentucky Association of REALTORS®, and writer of the Focus on Finance column on housing and local economic issues.
Facing deportation is one of the most difficult and uncertain experiences a person can go through. It can disrupt a family, a job, a business, and a way of life. But one thing many property owners may not understand is this: being deported from the United States does not automatically mean losing real estate you own there.
Real estate ownership is a property right. If you own a home, rental house, commercial property, or land in the United States, that property does not simply disappear because you are no longer physically present in the country. You may still own it, manage it, rent it, sell it, or use it as part of your long-term financial plan. The key is preparation.
The first step is to hire a reliable local property manager. If you are no longer able to personally visit the property, meet with tenants, handle repairs, or collect rent, you need someone on the ground to act professionally on your behalf. A good property manager can collect rent, coordinate maintenance, respond to tenant issues, inspect the property, and help keep the property producing income. This is especially important if the property is a rental home or investment property. The wrong manager can create problems, but the right manager can help preserve your investment and give you a measure of stability from a distance.
The second step is to consider granting a Power of Attorney to someone you trust. A Power of Attorney allows another person to act on your behalf in certain legal or financial matters. That person may be able to sign documents, communicate with lenders, deal with insurance matters, handle payments, or address property-related disputes. This should not be done casually. A Power of Attorney is a serious legal document, and it should be prepared or reviewed by a qualified attorney. The goal is to ensure the document is legally valid and sufficiently broad or limited to serve your needs without exposing you to unnecessary risk.
The third step is to stay current on all payments. A property can quickly be placed in danger if mortgage payments, property taxes, insurance premiums, homeowner association dues, or utility bills are ignored. Deportation may remove you physically from the United States, but it does not stop lenders, tax offices, insurance companies, or local governments from enforcing payment obligations. Automatic payments, a properly funded U.S. bank account, and a trusted person or professional helping monitor bills can make a major difference. Staying current protects against foreclosure, tax problems, insurance lapses, and unnecessary loss.
There may also be a time when selling the property is the best decision. Not every owner will want to manage property from another country. In some cases, selling may reduce stress, convert the property into cash, and allow the owner to move forward with greater certainty. If selling becomes necessary, the property owner should work with a competent real estate broker or agent who understands the local market and can help secure the best possible return.
Finally, anyone facing this situation should consult qualified professionals. A real estate attorney, a tax advisor, an immigration attorney, and an experienced real estate broker can each play a key role. Deportation can raise questions about taxes, ownership, title, contracts, banking, rental income, and future sale proceeds. Getting proper advice early can help avoid costly mistakes.
The main point is simple: deportation is a serious hardship, but it does not mean you automatically lose control of your U.S. property. With planning, good records, reliable local help, and proper legal guidance, real estate can remain protected, productive, and valuable.
Property ownership has always required responsibility. When an owner is forced to manage from a distance, that responsibility becomes even more important. The right plan can make the difference between losing control and preserving an important investment for the future.
Disclaimer: This article reflects the author’s views and is provided for general informational purposes only. It should not be relied upon as legal, financial, tax, or real estate advice. Readers should consult an appropriately qualified professional regarding their individual circumstances.
Before you list, learn your options and potential costs with our Free Kentucky Home Seller Guide.
Thinking about selling your Kentucky home?
More than a year ago—before contracts were signed and before large checks were written—concerns were raised about committing Hardin County to a redundant mass transit system based on growth assumptions that had not yet been proven. That early warning turned out to matter more than many realized at the time.
Fourteen months ago, I wrote a letter to the editor questioning a proposed expansion of public transit being discussed in and around Hardin County. The proposal was justified by one central assumption: that the BlueOval SK project would deliver rapid, large-scale growth on a short timeline. That assumption drove discussions about vanpool pilots, mass transit studies, buses, shelters, staffing, and long-term operating subsidies—all costs that would fall on Hardin County taxpayers.
(Source: Letter to the Editor, October 2024)
As that narrative gained traction, some advocates on the political left used the opportunity to push for a broader, countywide public transportation system, arguing that veterans, soldiers, the elderly, and the disabled were in dire need of expanded transit. Those groups absolutely deserve support—but the implication that they were unserved was misleading.
Hardin County already has targeted transportation programs in place serving seniors, veterans, students, and residents with medical or financial limitations—programs designed specifically for those populations rather than the general public.
(Sources: Lincoln Trail Area Development District public materials; local agency transit programs reported in The News-Enterprise)
Using the needs of vulnerable populations to justify a universal, fare-free mass transit system blurred an important distinction: targeted assistance versus permanent countywide systems. The latter would have required long-term subsidies and ongoing tax support regardless of actual ridership.
At the time, questioning this framing was not especially welcome. Growth was the prevailing narrative. BlueOval SK was treated as a certainty rather than a projection. Raising concerns about timing, scale, or fiscal exposure was often characterized as resistance to progress rather than prudent financial stewardship.
Today, the facts are clearer.
The BlueOval SK project, at least in its original form, collapsed early in its life cycle. Large-scale EV battery production never materialized. Thousands of projected jobs did not arrive. The joint venture dissolved. Ford pivoted. Layoffs followed. Production timelines were pushed years into the future, with only a fraction of the original capacity now planned.
(Sources: WDRB News reporting; Wall Street Journal; public statements by Ford Motor Company, 2024–2025)
That shift fundamentally altered the cost-benefit analysis used to justify major public investments—especially mass transit in a car-dependent county.
Had Hardin County fully committed to the growth model being promoted in 2023 and early 2024, taxpayers could have been locked into:
Those obligations do not disappear when projections fall short.
To the credit of local and regional leaders, many of these decisions were slowed, studied, or deferred rather than rushed. Transit proposals remained for pilots and studies—not permanent systems. Major spending commitments were not universally fast-tracked on unproven assumptions.
That restraint spared Hardin County residents millions of dollars.
This is not an argument against helping veterans, seniors, or the disabled. It is an argument for honest justification and proportional solutions. Targeted programs can be strengthened without using vulnerable populations as a blanket rationale for expensive systems the county does not need.
Recognizing risk early was not obstruction—it was stewardship.
Preventing waste rarely makes headlines.
But for Hardin County, it may be one of the most important public finance outcomes of the past two years.
— TW Shortt
Focus on Finance
