Real Estate Information Archive

The economy, home prices and living conditions in other parts of the country are forcing people to rethink their quality of life in those areas. We're seeing more and more people come to Louisville Kentucky because this area is exactly opposite the area their living in now. Louisville real estate prices is a perfect example. Jackie and Kevin are perfect examples. They came to Louisville yesterday to see if they could find a house they could be happy living in.

It happened again with another peice of Louisville real estate! The Medley Sokoler Team listed a condo last Sunday and sold it in 6 days for close to list price! The teams listing was up against 5 other properties in the same subdivision all similarly priced. The Medley Sokoler team which is now ranked as the number 4 RE/MAX team in the Kentucky – Tennessee region is thoroughly convinced the pictures and videos they produce are the keys to getting eyeball time (buyers looking for homes on the internet). With a recent Courier Journal / RE/MAX survey showing that 87% of home buyers start looking on the internet, The Medley Sokoler Team believes that only high quality pictures and attention grabbing videos will be associated with our listings. The Team has spent thousands of dollars on cameras, lens and computers to produce the best marketing materials possible for their clients. Watch the video and see what you think.

Buiilding a home is always a risky business. You have hundreds of decisions to make and more often than not you have to make decisions that you may 2nd guess a day later. As Louisville Real Estate Agents we work with hundreds of clients a year. When we started working with Rebecca and Joe last year we first looked at older homes. But soon our client’s attentions turned to building and buying a Ball Home. Today after a 5-month period, we closed on Joe and Rebecca’s new Ball home in Cooper Farms and we are thrilled for them. In fact watch the faces on this couple; their excitement is really contagious.

Every day you hear the media talking about how easy it is to get a great deal when buying a home that was in Foreclosure. In Louisville Kentucky, there are an estimated 200 foreclosure sales every month. But what you don’t hear about in the media are the time delays associated with foreclosures. As part of our Live Video Blog series we talked with one of our clients just as they closed on a foreclosure home we found in Jefferson County.
Should you buy a Foreclosure? from Bob Sokoler on Vimeo.

No.. not off a building or a bridge! 4.5% interest rates may be around the corner. What does this mean to you? If you’re planning to buy a home; start looking! Planning to sell a home; get ready to list it! If you have a mortgage rate of 5.5% or more and you plan to stay in your home for several more years you need to be ready to re-finance. 

CNN is reporting that Lobbyists are pushing the Treasury Department to buy down interest rates.  Cnn’s says “Similar to an effort unveiled last week by the Federal Reserve, the proposal calls for Treasury to buy securities backed by 30-year fixed-rate mortgages from Fannie Mae and Freddie Mac.” That proposal caused an immediate drop in rates of at least ½ point.

We’re already getting calls from perspective home buyers with questions, so here are some answers and food for thought.

Here are some quick numbers; a $200,000 mortgage at 6.5% makes your monthly mortgage (minus homeowners insurance) approximately $1,514.14 a month. If your mortgage was at the current rate of 5.75% your payment would be approximately $1,417.15 monthly. But a $200,000 mortgage at 4.5% drops your payment to $1,263.37 a month. That’s a $250 a month savings!

As of right now CNN says “Spokeswomen from Treasury and the Federal Housing Finance Agency, which oversees Fannie Mae (FNM, Fortune 500) and Freddie Mac (FRE, Fortune 500), declined to comment.”

But this may be more than just running an idea up a flag pole and looking to see home many people salute. It’s a great idea and if current homeowners can save money on mortgages it could help pump money back into the economy. For anyone trying to sell property it’s a breath of fresh air.

Call your mortgage company and let them know you want to be notified if/when the drop occurs so you can lock in. Call us if you want to see any home in the Louisville / Southern Indiana area. (502) 376-5483 or go to www.weselllouisvillehomes.com. 

Did you know that 7 out of 10 homeowners facing foreclosure never get help from their lending institution to work out a payment plan, or a realtor who can help sell their home in a Short Sale.

The problem is going to get worse as more and more homeowners are heading towards foreclosure. A new article published on Housingwire.com  has the title “Subprime Mortgage Delinquencies Building, Again”. The article points to another wave of upcoming foreclosures. Help may be coming is some form, an article published yesterday on Inman.com says “nearly $4 billion in federal grants will be spent to help state and local governments buy foreclosed and abandoned homes” The big problem is that for thousands of area homeowners in financial trouble, foreclosure may seem like a viable option. STOP! Before you make that decision you need to know the consequences of a foreclosure on your personal life (yes I said life) and the alternatives.

Foreclosure will affect you for years to come. For example:                  

1)    Some employers now run credit checks on their employees and a foreclosure can put your current position in jeopardy!

2)    A foreclosure is one of the top items that will put a potential new hire in jeopardy if the perspective employer runs a credit check.

3)    If you have a security clearance or government position or you’re in military or law enforcement a foreclosure could affect your status, you may be shocked to find out your job or clearance could be in jeopardy.

4)    You’ll have to disclose the foreclosure on any mortgage and many job applications.

5)    A foreclosure can haunt you for years, starting with your credit scores being lowered by 300+ points.

6)    You’ll be ineligible for a government insured loan for 5 to 7 years (only 2 years in a short sale).

7)    You may end up with a Deficiency Judgment (the mortgage company can still attempt to collect the money they lost from you).

Need help? I’m a realtor at RE/MAX Property East and a C.D.P.E. Certified Distressed Property Expert.  Visit http://www.LouisvilleShortSaleHelp.com or Contact Bob at http://www.weselllouisville.com/ or bob@bobsokoler.com.

You have to see 3705 BRISTOL OAKS DR from Bob Sokoler on Vimeo.

Walk in the front door and we think you’ll be impressed. From the open living room to the dining room and into the kitchen this home has been completely updated. Speaking of the kitchen, inside you’ll find hardwood floors ceramic tile countertops, there's a center island as well. The bathrooms have been updated, the back den cozy with a gas burning stone fireplace and built-in book shelves. All the paint colors and flooring throughout the home are neutral. The 1st floor master bedroom has a recently added room length closet with mirrored doors. Upstairs the bedrooms are nice size, in fact one is big enough to be used as both a den and office. The basement is not finished but there’s plenty of room for anything you want to build. We’ve saved the best for last, the back yard. Private, professionally landscaped, a fenced yard, large well maintained deck, patio with paver walkways, gardens and large trees with plenty of shade. This one is really worth visiting.

You have to see 3705 BRISTOL OAKS DR from Bob Sokoler on Vimeo.

Walk in the front door and we think you’ll be impressed. From the open living room to the dining room and into the kitchen this home has been completely updated. Speaking of the kitchen, inside you’ll find hardwood floors ceramic tile countertops, there's a center island as well. The bathrooms have been updated, the back den cozy with a gas burning stone fireplace and built-in book shelves. All the paint colors and flooring throughout the home are neutral. The 1st floor master bedroom has a recently added room length closet with mirrored doors. Upstairs the bedrooms are nice size, in fact one is big enough to be used as both a den and office. The basement is not finished but there’s plenty of room for anything you want to build. We’ve saved the best for last, the back yard. Private, professionally landscaped, a fenced yard, large well maintained deck, patio with paver walkways, gardens and large trees with plenty of shade. This one is really worth visiting.

Audubon Park for less than you might imagine! from Bob Sokoler on Vimeo.

Priced to sell in Audubon Park! This 3 bedroom 1 bath home has plenty of room for a growing family. The living room features a gas burning fireplace. The 2 bedrooms on the main floor are good size and the 3rd bedroom on the second floor is large. The basement is finished, there’s a work shop and has a large picture window looking into the large fenced in back yard. This home is close to Downtown, U of L and walking distance to shopping, restaurants and entertainment. Here’s your chance to own a home in Audubon Park for less than you would have ever imagined!