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Our mission at The Sokoler Medley Team is to be your best resource for real estate advice. Whether you are a buyer, seller, or investor, our team of professionals can answer any questions you might have about real estate. Subscribe to this blog to get the latest news on local market trends and receive expert tips for buying or selling a home.

Louisville Market Update: It’s Red Hot


The Louisville market is red hot right now with high demand from buyers and extremely low inventory. What does this mean to you, though?

Today, Sandie and I are out about 35 miles from Las Vegas in majestic Red Rock Canyon for a beautiful backdrop to talk real estate.

The Louisville market is red hot right now, but problems remain with buyers not being able to find homes. We track inventory with an absorption rate to determine how many months of supply the market has, with anything above six months said to be a buyer's market and anything below five months said to be a seller's market. Five to six months of inventory is said to be a balanced market.

As you can see from the slide in the video above, the absorption rate for homes in the $50,000 to $400,000 price range is a little disturbing for homebuyers because there are so few homes available.

Inventory is low and prices are projected to keep rising until 2021.

In fact, the $150,000 to $200,000 price range has just 1.2 months of inventory. The market is so hot that we're seeing multiple offers on a home in a single day.

On the other hand, there is a 13.4-month supply of homes in the $700,000 and above price range, making it a firm buyer's market. Home prices have continued to rise over the last year; many areas of Louisville have seen prices increase by 5.47%, bringing home prices just about back to where they were prior to the bubble bursting in 2007.

This continues to be a reason homebuyers are clamoring to buy a home now; prices are projected to keep rising until 2021. If you bought a $250,000 home this January, it would be expected to rise in value by $42,898 by 2022. Even though mortgage interest rates rose slightly this month, the projection is still low, so it's still a perfect time to buy a home.

We expect the market to get hotter and hotter throughout 2017. Of course, that depends on what we see from the interest rates, but things are looking good so far.

Now back to the beautiful part—Red Rock Canyon. The color of this canyon is something spectacular that we just don't have back in Louisville. While in Las Vegas, we also got a chance to check out Topgolf. In the video above, you can take a look at my silky smooth golf swing and Sandie's less successful attempt. The Las Vegas Topgolf is a multi-level facility and it even has a pool with a bar. It's very impressive.

Thanks for joining us today! If you're thinking about selling your house, now is the time to do it, so give me a call or send me an email today. I look forward to helping you!

Home Sellers Rejoice — You Have a Great Market in Louisville

Why is the Louisville real estate market so competitive right now? Inventory is low and buyer demand is high; I’ll explain what that means for you today. 

About four weeks ago, I had a quadruple bypass. Even though I am relaxing and taking it easy here in Sarasota, I am still thinking about the Louisville real estate market.

Existing home sales are the highest they have been since 2007. In fact, in the Kentucky area, home sales are up 3.6% month over month and 3.1% year over year. As you know, anything between five and six months of inventory is considered a balanced market. If there are more than six months of inventory, then you are in a buyer’s market. With less than five months of inventory, we are in a firm seller’s market. 

The fear of rising interest rates is driving buyer activity.

In fact, if you are looking for a home priced between $100,000 and $300,000, the absorption rate is between one and two months. That is simply unheard of! Now is a great time to sell faster and for more money. 

Even with amazing buyer demand, a lot of people don’t know that you can buy a home with less than 3% down. Most people think you need 10% to 20% down. Even current homeowners think they need 20% down to move up into a higher price point. Sandie Sokoler has been in the mortgage industry for 40 years and she can tell you that you only need 3% down and a 680 credit score with Fannie Mae. 

Housing inventory around the country continues to drop. We can expect more homes on the market in April, May, and June, which is peak buyer’s season. If you want to sell your home, now is actually a better time to be on the market because you will have less competition. 

The fear of rising interest rates is driving buyer activity right now. Rates have come down a bit and they are projected to hover between 4.25% and 4.75% for the remainder of the year. 

We expect the market to get even hotter as 2017 continues, especially with some of the reforms coming down from Washington. If you are thinking about buying or selling, now is the time to get out there. 

Before you put your house on the market, send me an email. I will send you a copy of our selling guide called “150 Steps to Selling Faster and for More Money” for free and with no obligation. If you have any other questions, please don’t hesitate to reach out to me. I am always here to help you!

2 Great Ideas for Winter: Sell Your Home and Come to The Fun Park

I’m here at The Fun Park in Middletown to let you know why right now is the best time to sell your home. 

If you are looking for something to do during the cold winter days in the Louisville area, the Fun Park in Middletown might be the place for you. I’ll go over what’s going on here at the Fun Park in a second, but for now let’s turn our attention to what’s happening with our real estate market.

In the Louisville and southern Indiana area it’s apparent that right now is the best time to list and sell your home. Waiting until spring could be a huge mistake.

Part of the reason demand is so high right now is the fact that the housing supply is incredibly low not only in our area, but across the country. Additionally, interest rates are still historically low even after the increase a couple months ago. Rent is also continuing to increase, so people are looking to step into the role of homeownership.

The absorption rate is talked about pretty often and includes the amount of inventory on the market, the number of new listings coming on the market, and buyers. Anything more than a six-month supply of homes is said to be a buyer’s market, a five- to six-month supply is a normal market, and anything less than a five-month supply of homes is a seller’s market.

If you take a look at the Louisville market, the absorption rate is at a 2.93-month supply, so we are in a very strong seller’s market. If you break down the absorption rate by price range, the majority of homes between $100,000 and $500,000 are in a 1.4 to 2.9 months supply, which is incredible. These numbers are likely sprouting as a result of growing consumer confidence. In fact, according to Bloomberg News, consumer confidence jumped to the highest level since 2004. Additionally, CNBC reported that the percentage of Americans who believe the economy will get better in the next year jumped an unprecedented 17 points to 42%.

We are finding an amazing amount of buyers who are sitting and waiting for homes to come on the market. When we list a home, we schedule showings within a matter of hours because there are so many people looking for homes. So if you want to maximize the amount of money you can get for you home and sell it quickly, now is the time to give us a call.

Now, let’s shift back to where I am, The Fun Park in Middletown. It doesn’t matter if you’re a kid or a kid at heart, there is something here for everyone. There are lots of games for kids, but adults can look forward to laser tag and a number of other things to do while spending a cold day inside.

We are finding an amazing amount of buyers who are sitting and waiting for homes to come on the market.

The Fun Park in Middletown has some great packages that you can buy as well. Those packages accommodate both people who want to spend a few hours there and those who want to spend a whole day there. Also, when it gets warm out, putt-putt golf and go-carts are added to the fun things to do here!

If you want any more information about buying or selling a home, we are here for you 24/7. If you’d like our free booklet on selling your home faster and for more money, send me an email. You can also give me a call if you have any questions or would like a free consultation. You can reach me anytime!

December 25, 2016 - Bob Sokoler The Louisville Real Estate Show on 840 WHAS

You can 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 or (502) 376-5483 to leave a question. For more information about Louisville Real Estate or to work with the hardest working Real Estate Team in Kentucky “The Sokoler Medley Team" at REMAX Properties East, 10525 Timberwood Circle, Louisville KY 40223 head to www.WeSellLouisville.com, email bob@WeSellLouisville.com or call (502) 376-5483.

December 18, 2016 - Bob Sokoler The Louisville Real Estate Show on 840 WHAS


You can 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 or (502) 376-5483 to leave a question. For more information about Louisville Real Estate or to work with the hardest working Real Estate Team in Kentucky “The Sokoler Medley Team" at REMAX Properties East, 10525 Timberwood Circle, Louisville KY 40223 head to www.WeSellLouisville.com, email bob@WeSellLouisville.com or call (502) 376-5483.