Real Estate Information Archive

Blog

Displaying blog entries 1-2 of 2

Pants on the ground tops Americal Idol

by Bob Sokoler

As Louisville Realtors we visit a number of places.. This week a new phenomenon has hit Louisville (and I suspect the rest of the country). American Idol’s pants on the ground, sung by 62-year-old Larry Platt is a hit! It’s not often we walk into a restaurant and hear people singing a tune, let alone “Pants on the Ground”, but we did last night!

 Larry Platt is no stranger to the media. He first attracted the spotlight back in the 1960s when he volunteered as a teenage crusader for the Civil Rights Movement in Georgia. If you’re looking for Louisville Real Estate visit www.weselllouisville.com. If you’re looking for a good laugh, watch the video below.

Louisville Home Sales slow for December 2009

by Bob Sokoler

By the Numbers

New Home Sales numbers in the Louisville Kentucky area for December 2009 appear to have fallen. I say “appear”, because there are several reporting sources and updates may still come in. The numbers show that Home Sales for December 2009 were off 5.31% from a poor December 2008. To make matters worse, the December 2009 sales were actually better than they should have been. Remember that some of the closings in December were actually delayed from November 2009 because some mortgage companies (specifically their underwriters) dragged their feet approving home buyer’s loans and some appraisers slowed their pace to the speed of a snail.

The Big Picture

Up until December 2009, the picture looked rosy. Louisville Real Estate Sales started to climb steadily in June.  Thanks to the $8000 first time home buyer’s tax credit, a new home construction tax credit and low interest rates we could say with confidence that the home sales recovery was well underway in Louisville Kentucky.  As the deadline for the first time home buyers tax credit approached in November, home sales were actually brick. November Home Sales were actually up 57.16% (by one reporting services account) over November 2008.

What Happened

Even though our lawmakers extended the $8000 first time home buyers tax credit and added an additional $6500 tax credit for home owners (living in their current home 5 years) who wanted to move, sales in December fell flat. The urgency to buy and close before the original tax deadline was gone. The need to take advantage of the free money from Uncle Sam could be put on the back burner for the time being.

2010 looks ripe for a comeback

Our phones are ringing at the Medley Sokoler team office with requests to see properties; our websites are humming away with buyers looking for a good deal. Those are 2 good indicators that 2010 could end up being a recovery year for the real estate Industry in Louisville. Some new home builders we work with are starting new construction and interest rates are staying stable (at least as of this New Year’s Day writing) more good news for the housing industry. We also expect to see a lot more homes coming onto the market as sellers regain confidence in the market.

A word of caution to all would-be sellers

 Make sure your home has been staged properly and repairs have been made, make sure your realtor has done a through competitive market analysis (CMA) to determine an accurate price. Appraisers are watching prices closer than ever before; buyers are shopping longer and taking more time than ever to find the best home in the best condition with the best price. Only the most competitive homes will sell and only the correctly priced homes will pass the scrutiny of the appraiser.

 

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

Comp 2009 S:

552

639

832

911

1032

1285

1309

1153

1204

1219

1097

748

Ref 2008 S:

752

899

1033

1067

1232

1230

1248

1162

1108

976

698

790

% Change S:

-26.59%

-28.92%

-19.45%

-14.62%

-16.23%

4.47%

4.88%

-0.77%

8.66%

24.89%

57.16%

-5.31%

Displaying blog entries 1-2 of 2

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