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Louisville Home Sales July 2017

by Bob Sokoler

Louisville's average sale price is up almost 3%, the areas average median sale price is up more than 1.5%, but the problem felt by anyone looking for a home in the $50,000-$300,000 price range is just finding a home. The number of Louisville homes on the market has dropped 15% from a year ago. The reason it's a bigger problem now is that there are more people in that price range looking for a home than ever before. In addition to Millennial's looking for a home, you have boomerang buyers (people who have had credit problems and whose homes went into foreclosure or short sale between 2008 and 2014), now able to look for homes, move-up buyers and individuals who are downsizing.

Additionally, Home builders are trying to build homes as fast as they can.
But because many of the trades got out of the industry during 2008 to 2013, finding plumbers, electricians and woodworkers are harder than ever. So construction of new homes is slower than it should be.

We're seeing more buyers continuing to look for homes here in August than in years past. That's an indication that there are still plenty of buyers looking for
that perfect home. In fact, the most recent numbers from the Greater Louisville Association of Realtors (G.L.A.R) shows that the number of homes sold in July 2017 was down just .1% when compared to the same month in 2016. That's a clear sign that buyers are getting concerns they may not find their perfect dream home and are buying homes that they hope to turn into that dream home. Interestingly enough the number of pending homes was up 7.9% during the same time frame.


That's an indication that buyers will find their home, do an inspection, asked for repairs and may not be getting the answers they want, so they pull out of the contract. Of course, some of those pending homes could also be going back on the market because the buyers find out they are not qualified financially to buy a home despite the initial pre-approval letter issued by banks and mortgage companies who are too quick to issue the letter.


The number of new listings coming onto the market last month was up 1.2%, but that wasn't enough to make up for the shortage seen since the beginning of the year which is now down .7%.


The most important part of the home selling picture is the absorption rate (if you turned off the faucet and no other homes were allowed on the market, the absorption rate is how long it would take existing homes to sell or absorbed). Anything over a six-month supply of homes is said to be a buyers market, a 5 to 6 month supply of homes is a neutral market and anything less than a five month apply when talking about the absorption rate is said to be the seller's market.

 According to G.L.A.R the absorption rate in July 2017 was a 2.93 month supply, down 19.28% from July 2016. But looking at the numbers a little closer, and you notice homes above $300,000 are taking longer to sell and in the $50,000-$300,000 price range have an absorption rate of just 1.2 – 1.7-month supply. Anyone looking for a home in that $50-$300,000 price range needs to be ready to get out and see a new listing immediately and have a pre approval letter or more in hand when making the offer.


We need more homes on the market in the $50,000-$300,000 price range, anyone who owns a home in that price range and is thinking of moving into a bigger house needs to read and absorb the following information. If you decide to sell now, you can get top dollar if you buy in the price range above $300,000 your agent may be able to negotiate a fantastic deal for you. Because sellers in the higher price range homes are facing a winter on the market and with potentially fewer buyers looking for homes in their price range they may be more motivated to accept a lower price.


With another interest rate hike by the Fed on the horizon, buyers are trying harder than ever before to find the perfect home in the lower price range. We don't know how long this will continue, but for the housing industry, this is an amazing time to be living in.

If you're thinking about selling your home, now's the time and we can help. If you think about buying a home, we have 19 agents standing by to help you. Send me an email or give me a call.
(502) 376-5483, bob@weselllouisville.com.

 

Why did Bob Sokoler go completely green with a Tesla?

by Bob Sokoler

Bob Sokoler 227 five got it I let a moment note last and finaland his Tesla

Up until several years ago I thought global warming was in Al Gore’s imagination. I admit I hadn’t done much research and I wanted to believe humans were incapable of hurting our planet. But I’ve done more research, read more reports and watched TV shows about the problem. I believe there is a potential cause and effect that we need to address sooner than later.

Four years ago, as my beliefs about global warming changed, I leased a Chevy Volt (I reported on my adventures with it here). I enjoyed the car but I also enjoyed the feeling that I was helping the planet. As a real estate agent in Louisville I spend a lot of time in the car both showing properties and listing homes. The thought that I was part of the cure and not a problem for global warming actually made me feel good. So when my lease was up I had a big decision to make. Lease another Volt or dig deep (into my wallet) and purchase a Tesla.

Anyone who follows the growth of Tesla and Elon Musk knows this is not your ordinary car and certainly not your typical multimillionaire. After research, soul-searching and talking to my brother-in-law who bought a Tesla a year before, I made the decision to buy my own. It has been absolutely pure pleasure from the moment I test drove a Tesla to this moment four months later.

I ordered my Tesla via Internet and phone back in April. Two months later it was delivered to the Cincinnati location and I picked it up on June 30.  I plan on shooting videos and blogging about my travels in my Tesla but for anyone on the fence wondering if the car is a good investment. Let me put your fears to rest, the car is amazing, the feeling of driving it is exhilarating, passing gas stations is a hoot and knowing I’ve reduced my carbon footprint by some 75% when driving it makes me proud.

Though I can charge it up to 265 miles, Tesla recommends reducing the daily charge to extend the battery life. So I only charge it up to 236 miles. Typically that’s 100 miles per day more than I need so I’m happy. I plan on taking a trip back up the Cincinnati in the next couple of weeks because the center console accessory that I ordered is being shipped up there. It’s a trip I’ll cherish because the car is a joy to drive.

There are a number of people I consider heroes, Steve Jobs, Bill Gates are two of my favorite current day heroes. Elon Musk has now been added to my list for a number of reasons including thinking out-of-the-box.

Louisville Home Buyers Talk about The Medley-Sokoler Team!

by Bob Sokoler

Hear what some of our buyers have to say about working with the Medley-Sokoler Team. Bob Sokoler is a former Anchor/Reporter turned Louisville Realtor 7 years ago in Louisville Kentucky. You can learn more about Bob, his Team and Louisville Real Estate at www.weselllouisville.com or call (502)376-5483!

Elite Homes does it again!

by Bob Sokoler

Rain normally stops the construction of most new homes, but not when you’re a team member of Louisville’s Elite Homes and working to build a new Louisville home in less than 7 days for ABC TV’s Extreme Makeover! Our Medley Sokoler Team at RE/MAX Properties East visited the set / build site of the newest Extreme Makeover staffed by Elite Homes. This is the 2nd time Elite Homes has worked with the Extreme Makeover crew and obviously the people at ABC TV were pleased with the results of the first Louisville Home Building experience. This new construction project is a bit more changeling because of the weather conditions and size of the lot.  As we wrote about over the weekend, Elite Homes has established a great reputation here in Louisville and is well on the way to another successful build for a very worthy family.

We really hope you enjoy reading our blog as much as we enjoy writing it If you have any questions about Louisville Real Estate as a buyer or a seller please e-mail me directly atbob@bobsokoler.com , call me (502) 376-5483 or visit our websites www.weselllouisville.com orwww.louisvillehomestoday.com

By Bob Sokoler, www.weselllouisville.com Louisville home sales took another plunge last month but there may be signs of some light at the end of the dark basement! First the bad news for Louisville home sellers. The number of homes going under contract in August of 2010 compared to August 2009 was down  9.8% (see the charts below). Additionally, the number of homes closing (actually changing ownership) during the same period was down d12.9%.

Right now the only people who are buying real estate are people being transferred, investors looking for steals and a handful of people who want to try their hand at home ownership.  Once again a lack of confidence in the economy has potential home buyers staying right where they are, locked behind apartment doors.

This really is a buyer’s market, for anyone brave enough to venture into the home buying supermarket, there are blue light specials around every corner. Interest rates are at all time lows, sellers are accepting amazingly low prices for the sale of their homes and there are some real deals out there. For example our Medley Sokoler Team is working with out of town buyers this weekend who can’t believe the amount of home they can get for the money. Our buyers are coming from Maryland, (found us on the internet several months ago) and after looking at 10 homes today are confident they will be writing a contract on a home this weekend. We have a number of those types of buyers coming to town.

Even better news for Louisville home sellers is a new report in The Wall Street Journal Blog today! In a blog post entitled “10 Best and Worst Markets for Real Estate”, Louisville Kentucky Real Estate makes it into the top 10 cities to invest in Real Estate. The WSJ report is based on a soon to be released report by Local Market Monitor, a company that forecasts residential home prices. There updated report, which will be released next week will show positive trends for Louisville Real estate and Southern Indiana Real Estate.

A single report like this may bring in some investors from all parts of the world, but this is just one of a series of reports now hitting the media. If the trend continues, frightened buyers will start to show their heads from behind those closed apartment doors. That will help an ailing housing market and introduce a healthier more robust confidence in our wavering economy.  Just what our buyers and sellers are hoping for!

Number of Houses Under Contract

This month: 1092

Last month: 1119

This month last year: 0

Number of Houses Sold & Closed

This month: 935

Last month: 999

This month last year: 0

Average Selling Price

This month: $173,415

Last month: $176,838

This month last year: $0

Average Days on Market

This month: 74

Last month: 79

This month last year: 0

Median Sales Price

144,250


THE MONTH OF: August, 2009
Number of Houses Under Contract

This month: 1211

Last month: 1284

This month last year: 0

Number of Houses Sold & Closed

This month: 1074

Last month: 1276

This month last year: 0

Average Selling Price

This month: $166,106

Last month: $171,793

This month last year: $0

Average Days on Market

This month: 84

Last month: 89

This month last year: 0

Median Sales Price

137,500

We really hope you enjoy reading our blog as much as we enjoy writing it If you have any questions about Louisville Real Estate as a buyer or a seller please e-mail me directly at bob@bobsokoler.com , call me (502) 376-5483 begin_of_the_skype_highlighting              (502) 376-5483      end_of_the_skype_highlighting or visit our websites www.weselllouisville.com or www.louisvillehomestoday.com

8704 VALERIDGE CT, By Bob Sokoler, www.WeSellLouisville.com

by Bob Sokoler

 

8704 VALERIDGE CT, By Bob Sokoler, www.WeSellLouisville.com

  • Here's a beautifully maintained and updated ranch with open plan waiting for you in Lyndon.
  • Hardwood floors great you in entry foyer, kitchen and breakfast areas.
  • The kitchen has Granite countertops, white updated appliances (GE Advantium Oven & Refrigerator) and beautiful oak cabinets.
  • In the very large great room - a vaulted ceiling and Wood Burning fireplace with gas logs.
  • There are 3 large bedrooms with neutral paint.
  • The master bathroom has a whirlpool type Jacuzzi style tub, separate shower (in the water closet).
  • There's also a large walk-in closet.
  • The professionally finished basement wet bar and built-in cabinets.
  • Outback a comfortable deck and backyard.
  • Other features include: Hi-efficiency Lennox pulse furnace, humidifier.
  • New carpets in 2008.
  • Close to everything!  

We really hope you enjoy reading our blog as much as we enjoy writing it If you have any questions about Louisville Real Estate as a buyer or a seller please e-mail me directly at bob@bobsokoler.com , call me (502) 376-5483 or visit our websites www.weselllouisville.com or www.louisvillehomestoday.com

Two new Louisville Homeowners!

by Bob Sokoler

Greg and Erin are 2 of Louisville’s newest homeowners. In addition to buying a great home, the couple will also get back $8,000 thanks to the 1st time buyer’s tax credit from the federal government. We always wonder how our team does. From looking, to negotiating to closing we what our clients to be happy with the louisville real estate they purchase! Greg and Erin were free to say anything they want about the Medley Sokoler team. For more information about us head to www.weselllouisville.com

10116 JOHN ASHLEY COURT

by Bob Sokoler

10116 JOHN ASHLEY COURT is a great example of Louisville Real Estate. It’s a brick ranch with a number of upgrades. The large Eat in Kitchen has tiled back splash, tiled flooring and a big bay window that opens to the view of the private back yard. The kitchen also opens to the great room. The master bedroom has a walk in closet and private master bath. The Great Room features vaulted ceilings and gas fireplace. Our TV video of this home will give you a good look at the inside and outside of the home. The home is near Jeffersontown and just outside the city of Louisville. For more info on this home head to http://weselllouisville.com/inc/pmisc?pid=1538

8005 WILLIAMSGATE CIRCLE

by Bob Sokoler

Williamsgate Whitney "D" built by Ball homes Great Louisville Real Estate in Oldham County: 2137 sq. ft. 4 large bedroom Open floor plan Upgraded throughout. Additional unfinished bonus room above the garage. Large "turret" front room with vaulted ceiling used as an office or living room. D floor plan features a dining room with large palladium window. Home backs up to woods. Master bedroom features double trey ceiling, Master features a large 2 person 5 foot shower, granite counter tops, large walk in closet Kitchen features a travertine backsplash, upgraded faucet, recessed lighting, and extended panty. Garage upgrades include finished floor, work Bench, garage storage shelves and garage light fixtures. Driveway has been extended for a third car. Deck has been extended and there is a gas line for an outdoor grill.

For more information head to http://weselllouisville.com/inc/pmisc?pid=1507

6810 Clore Lake Road

by Bob Sokoler

You will really enjoy this fantastic 1.5 story home located in the desirable Summerfield by the Lake Subdivision in Oldham County. The home has a Federal energy star rating (giving you a 40% reduction in the utility costs compared to conventional construction methods). The 2 story foyer opens to a large great room with hardwood flooring & granite fireplace that is double sided to the covered deck. This open floor pan leads to a gourmet kitchen that will knock your socks off with custom cabinets, professional series stainless steel appliances, granite counter tops and sink. The kitchen also features a huge center Island with cabinets, wine refrigerator and 7 foot raised breakfast bar. The kitchen area is also open to an additional large breakfast corner and hearth room with another granite fireplace and large windows making this an excellent gathering space. Off the kitchen is a Ceramic tile laundry with custom cabinets and crown molding adjoins the kitchen hearth area. The 1st floor master suite features a vaulted trey ceiling with crown molding and lots of windows. The lavish bath features a whirlpool tub, tile shower and a double bowl sink with granite top. You’ll be smiling when entering the walk in closet. It’s an impressive (14’6” x 12’3”). The second floor features 9 foot ceilings, 3 large bedrooms, one with a private bath, the others sharing a jack & Jill bath, all with granite counter tops and custom cabinets. Follow the open staircase to the to the walkout lower level featuring 3 large recreation rooms, a 5th bedroom and another full bath. The final floor plan of the basement is being left to the buyer of this home. Finishes will match the 1st and 2nd floors. There are also a number of windows & French doors which give plenty of natural light to the lower level. There is wonderful access to a huge patio & tree lines back yard. There’s also gardener’s garage completed on the lower lever containing space for bikes, mowers, storage or a work shop. This area can also be opened up and used as another bedroom or office. From the rear covered deck you can enjoy the scenery of the nature preserve and creeks bordering the property while enjoying the outdoor fireplace. This home also features: High performance HVAC System, hot water loop, Energy Star appliances, fans and lights. Hardwood floors, ceramic tile baths, lush bedroom carpet, 3 levels of central vacuum, home security system, irrigation system, circle drive with ample parking and a massive 3 car garage complete this home. 6810 Clore Lake Road is now ready for immediate occupancy. Minutes to I-71, shopping, Summit, Award winning Oldham County Schools. **** this home also being offered without a finished basement for $579,000.****

Displaying blog entries 1-10 of 30

Contact Information

Photo of The Sokoler- Medley Team Real Estate
The Sokoler- Medley Team
RE/MAX Properties East
10525 Timberwood Circle Suite 100
Louisville KY 40223
502-376-5483
502 992-4137
Fax: 502-719-8152