Real Estate Information Archive

It’s the home sale version of the cash for clunkers car rebate!  Louisville area home sales for the month of July jumped through the roof in July of 2009. Our area saw a 21% increase in home sales from July 2008 but were still 13% below the levels of July 2007 (before the housing market tanked).

 Another great sign that the Louisville housing market is going in the right direction, homes going under contract in July 2009 compared to the year before were up 32%.

The peak performing home prices were in the 100,000- 160,000 and 200,000-250,000 price ranges. Clearly the $8000 first time home buyers tax credit and lower interest rates played a major part in the homes sales increase and at the same time the people living in those entry levels homes were able to buy their next home which would typically be in the 200,000-250,000 price point.

The numbers show that the tax credit is a winner and along with the success from the cash for clunkers car traded-in program that was extended again this past Friday, our government should realize that extending and expanding the home buyer tax credit program would go a long way to moving the housing market and economy into the recovered category!  

For more information about The Medley Sokoler Team, head to www.weselllouisville.com

 July 2008

You won’t want to miss this outstanding house in a great area! This 3 Bedroom, 2.5 Bath Cape Cod features beautiful hardwood flooring throughout most of the first floor and second floor. The first floor features a Formal Living Room and Formal Dining Room, as well as a Family Room with brick, gas fireplace. The Eat-in Kitchen is light and bright with the floor to ceiling windows in the eating area and has white cabinetry, with stainless steel refrigerator and dishwasher and brand new black range. You will not believe the size and beauty of the Huge Master Suite. Here you’ll find closets, immaculate wood flooring and a gorgeous, brick fireplace for instant romance. The Master Bath also has a whirlpool tub. The second floor also has two nice size additional Bedrooms with hardwood flooring and a second Full Bath. Don’t miss the partially finished lower level with Family Room and office area. There’s even a mini mud room for the kids to store their coats and shoes. Out back the private backyard is surrounded on 2 sides with large pine trees. The new patio will make a great place to entertain! You’re going to want to call this home!

This gorgeous ranch with a 2 car garage on the top level has a modern, open floor plan and would make a great home for entertaining especially with 3 decks on different levels. The Vaulted Great Room is wired for surround sound and features a ceiling fan and stone fireplace, and opens those 3 decks. The enormous Eat-in Kitchen features an abundance of cabinetry, counter space and smooth top range. Down the hall you’ll find the Luxurious Master Suite which has a trey ceiling with ceiling fan and lavish bath with whirlpool tub, separate shower and double bowl vanity. The two additional bedrooms are both good sized. More on the decks, take a look at these, can’t you just picture yourself having a party out here? The privacy of those trees makes this an amazing home. Downstairs you can’t miss the HUGE walk-out lower level finished with a recreation area, including a wet bar, another fireplace and an extra large full bath that will be a real WOW to guests. This home also features extensive landscaping, security system and is on a corner lot. 

It’s no surprise that interest rates have been coming down in the past few weeks; after all it’s an election year! As of February 3, 2008 the average interest rate was hovering at about 5.75, but in the past 2 weeks we’ve seen interest rates dip well below that mark, only to bounce back. This week, because of the .50 fed reduction last week, we should see rates drop again.

The lower rates should help the Louisville Kentucky home sales numbers which in January 2008 were down some 16 percent from January 2007.  Interestingly enough, the number of homes on the market is down below the 10,000 mark and the days on the market dropped by 1 to 88 (see charts below).

But as we approach the spring home sales market, the number of homes coming onto the market is expected to rise as people who have been waiting to put their homes on the market make the jump. 

If you’re among those planning to put your home up for sale remember it needs to be the in the top one third of the listings on the market to have a chance at selling quickly. That means in top condition and priced at, or just below market value.  Need advice, drop us an e-mail and we’ll be glad to help

 Jan 2008

 Jan 2007

This report was based on data provided by the GLAR Kentucky Home Sales Report for December 2007. Have questions? Call Louisville Kentucky Realtor Bob Sokoler at (502) 376-5483.