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