We Specialize In These Louisville Area Communities

Anchorage - Hunting Creek - Jeffersontown - Mockingbird Valley - Prospect
Crescent Hill - Hurstbourne - Lake Forest - Oldham County - Seneca Gardens
Douglass Hills - Indian Hills - Middletown - Polo Fields - Springhurst

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Are We Set for a Real Estate Boom?

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Today I’m at Starview Greenhouse in the La Grange area. If you like plants, flowers, and good deals, then you’re in for a treat. I’ve been coming here since 1999, and they offer something that not many other greenhouses in the area do. They’re also locally owned, and I appreciate giving local businesses my support.
But let’s take a quick look at the Louisville real estate market:

  • Home sales in April 2016 have risen by 5.7% since last year.
  • Inventory is down from last year by 20.9%, which is why home prices are rising significantly. Some people are worried about a bubble forming, but even Warren Buffett thinks the market is performing just fine.
  • One reason for the lack of inventory is the large amount of first-time homebuyers in the marketplace. They’re being driven by low interest rates and rising rent prices, but they’re having a difficult time purchasing because there is nothing to buy.

There is a conundrum in our market. Buyers have very few homes to choose from, so they have to pay high prices for good properties. Even though sellers are getting great prices for their homes, they aren’t listing them because they’re worried about finding a property once they sell their own. This is a downward spiral that is slowing sales and raising prices. This means that you need a quality real estate team that can find you good homes to buy with less competition.

"Low inventory is raising sale prices around the country."

Now - back to the greenhouse. Theresa Rahm, the manager of Starview Greenhouses, has said that the growing season came early this year because of the heat. She recommends using water-soluble fertilizer on your hanging baskets at least once per week, or at least every two weeks. Trimming off the ‘legs’ of blooms that bend out over the basket is important as well. When you trim on the outside, it will cause blooms to grow towards the center.

If you have any questions or concerns, don’t hesitate to call me. I’m available day and night!

Should the Louisville Real Estate Market Make You Worry?

Selling a Louisville home? Get a free home value report  
Buying a Louisville home? Search all homes for sale 

Today I am in the beautiful White Blossom neighborhood, which is just outside of Louisville. I’ll be giving a neighborhood tour, but before that we need to take a look at how the real estate market is performing.

Overall, we have good news to report:

  • Home sales rose by 12.5% since last month
  • Homes under contract rose by 16% since last March
  • Inventory is still very, very low - we need more homes on the market
  • Mortgage credit availability is up and interest rates are very low, which should assist buyers
  • Appreciation is on the rise in Louisville - if you own a $250k home right now, it will be worth an estimated $295k by 2021
  • A fear of rising interest rates is bringing a lot of buyers to the market this spring, putting even more pressure on our low inventory market
A lot of home buyers don’t know how much the need to put in for a down payment, but you should shoot for 3-5% if you can afford it. There are tons of different programs that are available to you, and some don’t even require a down payment.

"We need more homes on this market."

The main problem right now is that we do not have enough homes for sale on this market. So, if you’re looking to sell in Louisville, then now is the time to do so!

Also - be sure to take a peek at White Blossom in the Springhurst neighborhood in Louisville. It’s absolutely beautiful right now.

But seriously - please contact us if you have a home to sell -  we need more inventory on the market!

March 20, 2016 - Bob Sokoler The Louisville Real Estate Show on 840 WHAS

Listen to our latest Radio Show here! Be sure to listen to our Louisville Real Estate Show on 840 WHAS Sunday morning from 8:30-9:00 am! Have a question for our team of experts? Call (502) 252-1890 to leave a question. For more information about Louisville Real Estate or to work with the hardest working Louisville Real Estate Team in Kentucky “The Sokoler Medley Team" at REMAX Properties East, 10525 Timberwood Circle, Louisville KY 40223 head to www.WeSellLouisville.com or call (502) 376-5483.