Real Estate Information Archive

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.

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.

We know 2009 was a tough year for many people throughout the United States! We've been working with a number of homeowners who are facing foreclosure. As advanced CDPE (certified distress property experts) we know first hand, the problems! On a good note there are solutions to those problems, we can help. We took time from our team holiday brunch to think about those who are having a rough time.

Spurred on by the $8000 first time home buyers tax credit, Louisville home sales jumped by a whopping 40 Percent in November when compared to a November 2008! Many of the sales were in the $100,000 to $200,000 price range, the target of first time buyers.  Sellers of those homes moved up as homes in the $200,000 to $300,000 price point also did well.

Not All The News Is Good 

Homes going under contract slowed during the month of November as the original 1^st time home buyers tax credit deadline neared. Early in November the tax credit was extended to the end of April 2010 (to be under contract) and the end of June 2010 (to be closed). The extension took the pressure off buyers and the search for homes by first time  buyers slowed.  Officially the number of homes going under contract was up 11% in November over November of the year before.

Looking Forward To December 

Because of tighter mortgage requirements and slower appraisals of homes, sales in December should be better than expected. Those two factors delayed closings that were supposed to have occurred in November. The slowdown will help boost December 2009 numbers and give a false sense of recovery. Unless we see more buyers come into the market during December and January, Home sale figures for the beginning of 2010 could fall far short of hopes and expectations.

Other Tax Credits

The local and National media have done little to promote the brand new $6500 tax credit for home owners who have owned their home for 5 years or more and buy their next home. Additionally we’re seen little publicity surrounding the $5000 new construction tax credit in Kentucky. 

For more information head to www.weselllouisville.com.

November 2009

November 2008

There is nothing like it in Louisville Kentucky! www.bobshousesearch.com brings together all aspects of a home search, making it easy to find homes, interior pictures, map aerial pictures and more.  The website concept has been in a number of cities around the U.S. but this is the first time home buyers in Louisville Kentucky have been able to use it. The reaction from those who have tried it is amazing. Easy, through and informative are some of the words used to describe the new home search website. The system is free to use for anyone looking for Louisville real estate. Owners of the website, The Medley Sokoler Team are inviting everyone to try the site, even other realtors. For more information about the Medley Sokoler team head to www.weselllouisville.com.     

The Medley Sokoler team is often asked what makes us different that other realtors or real estate teams when selling a home. The answer includes hundreds reasons. Below are some of the reasons, but more importantly we’ve also included videos on our marketing, success stories and some of the work that our team does.

Understand that our concept is to always be available by phone. If you have a question (even in the middle of the night) Bob Sokoler’s phone is always on! Too may other agents only answer their phone during daytime hours! We feel our clients are paying us to always be “on call” and the same holds true with buyers. Let’s face it if a buyer has a question about your home, you want an agent who takes that call and tries to get the buyer into your home for a sale!

Our commitment to excellence extends into our marketing as well! Most other realtors use a cheap consumer grade camera to take pictures of your home and market it on the Internet. With 87% of all home buyers starting to look on the internet, you need more than a consumer picture promoting your home. We use Hi end professional gear and produce Hi quality pictures and videos. We market those pictures on web sites all over the world. Our goal is to get as many eyeballs on your home as possible, that’s why we’re so successful at selling homes. Simply look at the videos below and decide for yourself!

Finally we have a team in place that gets the job done daily! That means fewer problems for our sellers and buyers because we stay ahead of any potential problems. Those are just some of the reasons we’er different than other realtors and teams. We’d love to meet with you in person to explain the other reasons. Call Bob Sokoler anytime at (502) 376-5483 or go to www.weselllouisville.com or www.louisvillehomestoday.com .  

Looking for a home? You want to make sure the agent or agents you work with know the ins’ and outs’ of the real estate business. These days part time agents just don’t cut it. Too many things can go wrong and if an agent is at their primary job, there’s no way they can take the time to work on a problem. That’s why you need a full time agent and better yet a full time Real Estate team. The Medley Sokoler Team can help you buy and sell a home. Head to www.weselllouisville.com for more info. At the same time listen to what Dan and Leigh Anne McNamara had to say about their experience with us.

Steven and Deb Jeffries just sold their home in a short sale. Seven out of ten people facing a foreclosure never call a realtor or their bank to stop a foreclosure! Only a handful of realtors have actually been trained to handle a short sale properly. An agent who says  there is no correct way is in denial and I don’t mean a river in Egypt. Bob and Norine Sokoler are advanced CDPE certified and along with their team navigate through the red tape known as a short sale.  After watching the video call the Bob Sokoler and Medley Sokoler Team at (502) 376-5483 or head to www.weselllouisville.com or www.stoplouisvilleforeclosures.com.

Great news for Louisville Home owners and anyone looking to buy Louisville Real Estate. A new report published today by U.S. News and World report picks Louisville Kentucky as one of the “10 Cities primed for a Real Estate Recovery”!  The article sites the fact Louisville’s real estate market never saw double digit appreciation so there was less room for Louisville Home prices to fall. On a negative note the article points to the recent Ford Motor plant layoffs and cutback in manufacturing. But also points to the recent UPS expansion and attendance at job fairs has been on the decline. Louisville was included in the “10 Cities primed for a Real Estate Recovery “article along side cities like Birmingham Alabama,  Philadelphia Pennsylvania and  Portland Oregon. Our Medley Sokoler team has been very busy the past couple of days with 5 contracts accepted in 4 days. As of this writing, the $8000 first time home buyers tax credit will end at the end of November, so first time buyers should be looking for a home now. To contact the Medley Sokoler Team call (502) 376-5483 or head to www.weselllouisville.com or www.louisvillehomestoday.com.

Linda is about to move into her new Louisville home! We closed on it yesterday and because she’s a first time buyer, Linda is now able to get back $8000 on her taxes. She can amended her 2008 tax return and get it back within a couple of months or wait until next year and file the tax credit with her 2009 taxes. Either way Linda is off to a great start and the Medley Sokoler team was glad to be a part of it. We wish Linda the very best and we’ll always be here for her. For more information on The Medley Sokoler team and Louisville Real Estate, call 502-376-5483 or visit one of our websites: www.weselllouisville.com or www.louisvillehomestoday.com .