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October 2015 Louisville Area Home Sales Up!

by Bob Sokoler

Thinking of selling your home? Don’t wait until 2016, buyers are out there right now looking for the perfect home. Consider the fact Louisville area real estate continues to outpace last year. According to the latest numbers from the Greater Louisville Association of Realtors, homes going under contract increased a whopping 12.4% October 2015 compared to October 2014. The number of Louisville area homes closing in October 2015, up 1.3% over 2014. The absorption rate sits at a 4.4-month supply (a strong sellers market).

 The numbers could be even better if there were more homes on the market. There were 17.5% fewer homes on the market last month compared to October 2014. In fact the number of homes coming on the market last month was down 2.5% compared to October last year.

 So what does this all mean? The real estate market in the Louisville area continues to improve month over month. We’re seeing a number of homes that went under contract the month before not closing for a variety of reasons:

1)  Appraisers found the sales contract price was higher than what comps in the area had sold for. This has been a problem but it escalated at the beginning of this year when the government instituted a random computer check of appraisals. If the computer felt the appraisal was too high it would kick it back to the appraiser to be reworked. The appraiser doesn't get more money to do the extra work so they are more conservative in the beginning. That's why we're finding more appraisals coming in low. If the buyer is unwilling to come up with cash out of pocket or the seller is unwilling to come down in price the deal falls apart.

2)    Home inspections are finding problems in homes and sellers are unwilling to fix the problems. Since buyers always feel they're paying top dollar for a home they want the items found on the inspection report repaired. If the buyer and seller can come to an agreement the deal falls apart.

3) Government guidelines prohibit banks and lending institutions from checking a buyer’s credit and employment background until after the buyer makes application for a loan. Yet those same banks and lending institutions are asked to provide a pre-approval or prequalification letter for the buyer after a cursory, verbal and noninvasive credit and employment check. Unfortunately sometimes buyers forget outstanding debt or years on the job and the information supplied to the bank or lending institution is not verified until well after a buyer has found a home and started the process of inspections. If the credit history is bad or the employment information is wrong the bank or lending institution pulls the preapproval letter and the deal falls apart.

So what's needed in the future

1)  Appraisals are a necessary evil but having a computer watchdog overseeing appraisers trying to do their job is plain and simply wrong. Naturally we don't want to see problems similar to 2005 through 2008 with double-digit appreciation of homes. But the government has tied the hands of appraisers. They are not allowed to adjust for demand and scarcity of homes. The process slows down sales and is keeping sellers out of the market.

2) Buyers and sellers need to stop negotiating cosmetic repairs in a repair request and go after what the inspections were meant to find. Structural or safety problems need to be items negotiated not items that should have been viewed on 1st viewing.

3)    Banks need to have their hands untied and the government should allow them to check a buyers credit and employment history upfront before issuing a preapproval or prequalification letter. The government has created its own problem here. They believe by allowing buyers to shop banks they will find a better deal. But the government doesn’t appear to understand that accurate information is equally important. Allow the lenders to accurately check the buyers credit upfront. Make the prequalification or preapproval letter actually mean something.

The good news is despite the problems we have the market continues to recover. Just imagine what home sales would look like if the constraints were taken off the market and real estate sales were allowed to flourish.

What to buy or list a home? Call (502) 376-5483 or email bob@weselllouisville.com

 

Home for Sale in the "Heart" of St. Matthews 3504 Warner Ave

by Bob Sokoler

3504 Warner Ave

Architecturally delightful! Here's an updated family home right in the "Heart of St. Matthews!" 1500 Square Feet of Cape Cod living with an abundance of storage and closet space! Walk into an enormous living room with fireplace with newly refinished hardwood floors on the first floor, new paint. There is also a separate dining room, 2 bedrooms, eat-in kitchen and full bath on the first floor. Upstairs.. a knock your socks off master bedroom with built-in shelves and lots of closet space. In the professionally finished basement a large family/media room, (no crouching needed in this basement). There's a full bath, laundry and storage down here. Out back a 1 car attached garage. Additional updates include newer driveway, landscaping, new carpet in basement and roof on garage, new replacement windows and Kitchen counter-tops.

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!

Gorgeous Home in Lake Forest 2401 Crystal Springs Place

by Bob Sokoler

2401 Crystal Springs Place

Outstanding, Private, Gorgeous and over the top says it all! Sitting on a 1 acre lot on the 3rd hole of the Arnold Palmer Golf Course! Welcome to this Custom Designed Contemporary 1 & 1/2 story all brick 4 car garage home! Stunning Brazilian Cherry wood floors greet you as you enter the Foyer and continue throughout. The attention to Detail is astounding; the wide open floor plan offers magnificent views of the golf course from all directions. On the main floor to the right as you enter an office or Living room with a vaulted ceiling. On the left a column enclosed formal dining room. The Great room has a tremendous amount of light coming a wall of windows facing the back yard. The 2 story great room also features built in book shelves which surround the gas fireplace. The Gourmet kitchen has Granite countertops, travertine tile backsplash, built in gas cook top, breakfast bar, separate center island, recessed lights and pendant lights. The enormous (we really mean enormous) Master suite is also on the 1st floor and features its own gas fireplace, book shelves and view of the golf course. The master bathroom is impressive with its dual sinks (separated by cherry cabinets) granite countertops, Jacuzzi tub, private water closet, near bowling alley size closet (really..See the pictures) and walk around center of the room shower. The laundry room is also on the 1st floor and has its own ½ bath. . In addition to the owner's suite there’s another in-law/guest full suite (on the other side of the house) on the first floor. On the 2nd floor 3 more enormous bedrooms (check out the dimensions) with a common sitting area that overlooks the 1st floor great room and looks out to the golf course. On the walkout lower level the views are just as grand as the other 2 floors. Down here you’ll find an enormous family room with another fireplace and built in book shelves, another full guest suite and 1more bedroom and bath. There’s still plenty of room for storage. The treks deck runs just about the length of the back of the house. One third is screened in the other two thirds is open and has built in seating. Below there’s a private patio all looking out to enormous backyard and golf course. The home also has an irrigation system and electric dog fence.

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!

11115 Meadow Chase Court

by Bob Sokoler

11115 Meadow Chase Court

Take a look at the pictures and you'll immediately understand when we say this is one amazing home for the price. Walk into an entryway and then into a bright vaulted great room with a palladium window. The eat-in kitchen is just off the great room and overlooks the back yard. The split floor plan offers a wing for the kids with their own bathroom and in the back of the home a wonderful master suite with walk-in closet and bathroom. Additionally the master suite also features an entrance to the covered patio! The view from the deck is rare for a home at this price... just a large backyard, trees and woods. The separate laundry room has 2 entrances (make sure you see the doorway from the laundry room to the kids wing). Large 2 car garage.

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!

5122 Arrowshire Drive

Updates, Roomy and more than 2/3's of an acre of land! This traditional 2 story family home features hardwood floors in pristine condition. The hardwood greets you at the formal entrance and leads you into the eat-in kitchen area, formal dining room and family room. The eat-in kitchen has been recently remodeled and features a large bay window, new GRANITE counter tops and lots of oak cabinets. The eat-in kitchen is wide open to the the first floor family room which has a gas fireplace and built-in bookshelves. A first floor laundry room is located down a hallway and just off the kitchen across from a half bath. Upstairs is a spacious master suite with remodeled double sinks. Private water closet with shower and a walk-in closet. In addition to the master suite the second floor features 3 other large bedrooms (one is currently being used as an office) and another full bath. All provide plenty of room for a growing family. The backyard is more like a private park. The sliding glass doors off the family room open to a large landscaped patio and large, private back yard with lots of trees and all on a .77 acre lot. Located in Heather Hill adjacent to the Oldham County Country Club. Just minutes from award winning schools: Oldham County High School/Middle School/Buckner Elementary campus, the Oldham County Community & Aquatic Center, YMCA, soccer fields and I-71.

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!

What is for sale in Briar Hill Estates 6225 Breeze Hill Rd

by Bob Sokoler

6225 Breeze Hill Rd

Absolute Perfection! Here's an all brick home in immaculate condition with a very private lot in the Briar Hills Estate section. A 2 story foyer welcomes you with hardwood floors (note the inset medallion and octagonal accents) and Tiffany style foyer light. To the left a formal dining room featuring a trey ceiling back-lit with rope lighting and more inlay wood floors. The hardwood continues into the light bright 2 story great room. The southern exposure for this room and the kitchen are perfect winter and summer. The great room offers a cathedral window, French doors outside, built-in cabinetry surrounding a gas fireplace. It is fully open to an amazing kitchen. Features include large granite counters, stainless appliances, large center island, and amazing amount of cabinets and a large dining area. It all combines for one of the best kitchens you may find at this price. The pantry, large laundry room and a coat closet are conveniently located off the kitchen along with the large, 3 car garage (for short trips from the car to the kitchen after shopping). The owner's suite is also on the first floor with a large trey ceiling and another French door that leads to the deck. There's also a large organized walk-in closet off the bedroom. The luxurious bath offers 2 large, separate vanities, tile floor, over-sized tile shower, separate whirlpool type tub and separate water closet. The open wrought iron spindle staircase to the 2nd floor leads to 3 more bedrooms, with 2 full baths. These are large bedrooms and large closets. Downstairs the walk-out level features 2 large family rooms, open to each other, with large windows and another set of French doors. There is room for the large screen, pool table (unobstructed access) office area, couches, play area and more. Also down here another huge bedroom, with large windows and closet, and another full bath. And with all this there is still a huge storage area. . The deck runs the length of the house and overlooks a large private backyard. There are convenient steps down to the driveway or to the backyard. The underside of the deck has a roofing system over the large patio so you can sit under the deck while it rains and stay dry. Award winning Oldham County schools and close to the Waterston Expressway and the Summit Shopping Center.

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!

8308 Lake Superior Drive

Here is a charming 2 bedroom, 1 bath ranch on a quiet court conveniently located in Fern Creek. A renter with large furniture is living there now but this home could be ready for you very quickly. This house offers a spacious living room as well as a master bedroom featuring his and hers closets complete with a decorative ceiling fan. Kitchen flooring & counters are newer plus updated appliances are included. Floating bamboo floors throughout the home. The home also has a laundry/utility room.

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!

7704 Ashleywood Drive

Here's a Custom-built home on a beautifully landscaped corner lot. Walk into a warm and inviting entryway with rich hardwood floors. There's a formal dining room to the left and a formal Living room to the right. Through the living room and past glass french doors into an enormous family room with bay window and wood fireplace. The large eat in kitchen boasts maple cabinets, planning center, spacious eat-in area w/bay window and sliding door leading to large deck. Upstairs enjoy a large master bedroom with trey ceiling and large walk-in closet. You'll find 3 other good-sized bedrooms and an updated full bath up here. There are an additional 650 sq. Ft. Finished in the basement w/fireplace and plenty of room to entertain. Plenty of storage space in the basement as well. Updates include new garage door/opener/keypad, all new ceiling fans, fresh paint, kitchen counter top/sink and faucet, all light fixtures, hardwood floors, master bath, sliding glass door, new bathroom counter tops, door knobs, medicine cabinets, new water heater and landscaping. Please note that the size of the lot is enormous.

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!

211 Pennsylvania Ave- By Bob Sokoler

by Bob Sokoler

211 Pennsylvania Ave

Freshly painted and room to grow. This 3 bedroom 2 baths home is smack dab in the middle of Crescent Hill, convenient to everything. Sit on the front porch and watch the sun go down. Enter the home and into a greeting parlor. The parlor opens to a large living room with fireplace, then walk into an equally large family room (can also be used as a formal dining room) off the kitchen. The eat-in kitchen is large (see the pictures). All appliances will stay. Theres a full bath on the 1st floor as well a laundry area. There are 3 good size bedrooms on the 2nd floor along with larger closets and a full bathroom. The basement has been partially finished. Entertain in the rear screened in deck and private landscaped patio. The back yard is fenced; the property backs up to Crescent Hill Golf Course.

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!

3810 Davis Dr, New Albany, IN- by Bob Sokoler

by Bob Sokoler

3810 Davis Dr.

Even better than new! Here's a quality built Lynn home in the new sub division of Glenwood Springs, This is the very popular Julia Lynn ranch with a wide-open floor plan. This 3 Bedrooms 2 Baths homes features a 2-car garage, partially finished daylight basement and a number of upgrades. . The home has an enormous living room (take a look at the pictures) formal dining room, eat in kitchen, and large basement. Please note that this home has some custom features, which include a laundry room that has been moved into the 3rd bedroom. Sellers will gladly move it to the basement at the buyer's request. The home has a rich laminate wood floor throughout the house. The owners have finished off a large office in the basement and the rest of the daylight basement is ready for finishing or storage. Glenwood Springs is within walking distance of the Montessori school, Grant Line middle school is just a 1/2 mile away. Indiana university southern campus (I.U. South East) is also 1/2 mile away. See how much your money buys in a Southern Indiana home.

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!

Displaying blog entries 1-10 of 109

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