School's Out - Time to Get the House Sold
The last day of school has come and gone and now the clock is ticking to get the homes sold before school starts again.
This is a very common situation for many homeowners looking to sell during the summer months. The kids are out of school so you don't have to worry about relocating them in the middle of the school year and you know that a lot of people by during the summer as well. This truly is an excellent time to list and sell your property for the highest profit possible but you want to list wisely, price it correctly from the beginning and make sure everything is taken care of so that buyers don't see a laundry list of problems during the inspection. If you're looking to sell quickly for the most profit possible here are some key steps to take right now in order to get the home sold quickly and you and your family can move on to your next home.
First understand the tricky situation of buying and selling at the same time.
This is not an easy thing to do but chances are this is probably what's happening. If you're relocating to a new city it can be even more stressful since you're not at both locations at the same time. But, if you're relocating within the city or just a city or to over, it can be a little bit easier but the key is to have the same real estate agent for both transactions. Your real estate agent will understand what you're doing and try to keep time frames,...
Nobody likes to be stressed out with money but often times in our life we go through stages where money gets tight, we lose the job, change our family status or some other tragedy may make it impossible or very difficult to make your mortgage payment. Here are different ways that you can deal with the mortgage payment if you're struggling each month.
The first thing to note is that your mortgage is probably one of the most important payments that you can make. Credit card companies have high turnover and the person on the other end of the phone probably doesn't care if you can make the payment or not. Shelter, food, certain utilities and clothing are the most important items that you need to survive. These are the items that have to come first. If you cannot make a credit card payment in order to buy food that is what you must do. Do not put credit card statement ahead of food and shelter for your family.
The people behind your loan don't want you to neglect making that payment either. They don't want to have to go through all the hassle of foreclosure, short selling a home or evicting anyone. They want to keep you in your home just as much is you do. The very first thing you need to do is to contact your mortgage lender and tell them that you are in a financial crisis. We all go through hardships in our life so make sure you tell them exactly what's happening, be honest about your situation and that you'd like to stay in your home or consider other options that might be available to you.
Speak to your lender about different options that may be immediately available such as a temporary relief to...
An open house is a great way to see different properties without the commitment and hassle of contacting a buyers agent and scheduling a showing. It's often the first step that many buyers take when they begin their search for a new home. They made tour certain neighborhoods, be on the lookout for newspaper ads and talk to brokers about different open houses in particular neighborhoods. This allows buyers to browse open houses at their leisure, ask questions and find out a little bit about the property in the neighborhood. If you're in the market for a new Louisville Kentucky home and you're currently browsing open houses here are some great questions to ask the real estate agent to find out as much about the property as possible and save yourself a lot of time.
#1. Ask why the homeowner is moving.
This is probably one of the number one question a lot of buyers agents get and it's a valid one. Even if you don't get the full story most real estate agents will let you know that either the homeowner has been relocated, there's a family status change or there moving up or downsizing. Most of the time real estate agents won't tell you if there's something really horrible about the house but they do need to disclose certain items about the house such a structural integrity, coding and zoning. Be sure to read between the lines and listen for clues on why the owner might be selling. Is there a noisy train close by? Is this a high crime neighborhood? Is it a bad school district etc. Often times by knowing why the homeowners moving can put the home in either a positive or negative light.
#2. How long has the house been on the market?
This is a great question to ask as a gives you a good idea of the timeline of the property....
Louisville home sales are up 4.7% over February 2015. The number of active listings on the market is down 20.1% compared to the same time last year. That’s why realtors are finding it tougher and tougher to find homes for anxious buyers. If the lack of inventory continues, home sales could tumble, as buyers get discouraged with the lack of options to choose from.
The absorption rate is much lower than we've seen in years. In case you don't know what the absorption rate is, imagine all homes coming on the market stopped as of this moment. The absorption rate measures the number of buyers in the marketplace, the number of sellers putting their homes on the market and the number of homes going under contract. When combined the absorption rate gives us a good indication of how the home sales market is performing.
There are several scales but the one we look at closely says that if there is a six-month supply of homes or more it's a buyers market. If there is a 5 to 6 month supply of homes it's a neutral market. Finally anything less than a five month supply of homes and were looking at a sellers market. As of this writing, the absorption rate was 3.43 month supply of homes that's a firm sellers market! Compare that to just a year ago where the absorption rate was a 4.83 month supply. Not quite a neutral market but certainly not anywhere near as hot as the market is right now!
For sellers, the good news is that homes priced right, in good condition and staged properly are selling in a matter...
New Homes in Poplar Lakes - Louisville Kentucky
Interested in owning a home in Poplar Lakes?
For the latest inside information on what is available contact the team at Sokoler Medley
New Homes in Louisville
Pulte Homes has recently had their grand opening of the new Poplar Lakes located on Deer Lake Lane and Poplar Lakes Lane just south of Jeffersontown about 20 minutes from downtown Louisville. Easily accessible via Highway 155 or Interstate 265 this community is bordered by the Pine Valley Estates, Saratoga Woods and the Charlie Vettiner Park. From Easum Rd., head south along Poplar Lakes Lane, which turns into Deer Lake Lane after the roundabout. This collection of 12 new homes feature nine distinct floor plans starting at about $208,000 to about $250,000.
Floor plans start at 1500 ft.² to nearly 2600 ft.². The models include:
- Everett – starting price from $207,900
- 1513 ft.²
- 3 bedrooms / 2 full baths
- 1 story home
- Portland – starting price $213,900
- 1806 ft.²...
The new Louisville numbers are out for January 2016 home sales and though sales are up the real story is the lack of home inventory. Looking at the numbers first, the number of homes sold in January 2016 were up 2.3% over the year before. The number of homes going under contract were up 12.6% over the same time period the year before.
But if you look at the new homes coming on the market in the month of January you'll see the number was down 13.2% from the year before. That's why Louisville Buyers are desperately looking for their next home and there are very few to be found.
We measure the buyer activity with the term called “absorption rate”. If we turned off the faucet and no other homes came onto the market as of right now, how long would it take existing buyers in the marketplace to purchase or “absorb” the current supply of homes. The nationally accepted scale is as follows: six month supply or more is a buyers market, a 5 to 6 month supply of homes is a neutral market anything under of five months supply is said to be a sellers market. The current absorption rate for the Louisville area is a 3.36 month supply, a firm sellers market! In fact just a year ago we were talking about a firm sellers market and the absorption rate was a 4.82 month supply of homes.
What does this mean to you? Let's start with sellers, if you are considering putting your home on the market this year now is the time to do it. Typically you'll get more money and sell faster if you're on the market sooner than later this year. Naturally you have to be concerned about finding your next home,...
2015 Was an Amazing year for the Sokoler Medley Team. We were able to help more than 380 families sell or buy a new home in the Louisville Kentucky and Southern Indiana areas!
We look forward to helping you and your family in 2016 and the years to come.
You certainly don't want to give away your home when selling nor do you want to pay the highest price when buying. Good negotiation skills can take years to develop and tips and strategies come from highly qualified buyers agents and listing agents. But there are ways you can negotiate for the right terms and price in your next real estate deal.
Here are 10 tips that all buyers and sellers should know when it comes to real estate negotiations.
#1. Be an effective communicator.
Before you can negotiate anything you need to be an effective communicator. If you don't how to communicate properly, appropriately or accurately, your needs and desires are simply not going to get across. You need to listen, clarify, understand the opposite parties expectations and understand your expectations as well.
#2. Know the market.
If you have no idea what an accurate price is for a particular piece of property you are negotiating in the dark. The other party might be laughing at you because you simply don't understand the current market trends and strategies. Understand if it's a buyers market or a sellers market or if the market is balanced. There's no points to request a lower price on a home if the seller has three backup offers over list price. You have to understand what you're dealing with, the current market and how to really get what you want.
Read More: ...
Two New Home Communities in Louisville
Brookfield – Pulte Homes
Pulte residents who call Kentucky home, love to take advantage of all that Pulte and the Bluegrass State have to offer, from rich history set inhttp://www.weselllouisville.com/ beautiful cityscapes...
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...
Is selling your home after school starts a good idea?
Spring is well known as the real estate market busy season all around the nation and there are reasons why this is so. For instance in Spring the weather is milder for moving, people are motivated to start fresh/make big overhauls in their lives, and the budding nature helps boost curb appeal to show homes in their best light. What about fall though? Is it still a good idea to put a home on the market in the fall especially if you are trying to sell your home quickly?
Fact is the real estate market is active all year long. Homes are indeed bought and sold in every season of the year. Some seasons are of course more active in the real estate world than others but it is not impossible to get a home sold at any time of the year as long as you have the right marketing. Play to the strengths of your home and use the season you put your home up for sale to your advantage. For instance in fall do a little seasonal decorating to entice buyers to want to come inside and take a closer look.
Related post: How to Stage and Sell in the Fall
Traditionally the market is a bit slower in fall than in spring but the market does not take a huge plummeting drop in the fall. There are parents who prefer to search for a home in the fall when their kids are back in school giving them time to look for homes without needing to bring the kids along or find childcare.There are also buyers who need to relocate now and buyers who prefer to shop when the competition between other buyers...
New Louisville Home sales numbers for September 2015 are out and home owners can celebrate. Louisville made significant gains in a number of areas including average price, days on the market, Home sales and pending sales.
Meanwhile a new national association of realtors report for August 2015 says nationwide wide averages were down 4.8% in August 2015.
Louisville home sales have been gaining steadily for much of 2015, the latest numbers show the average sales price in many areas of Louisville are up more than 8.5% from the same time a year ago. The average sale price increased from $183,500 to $199,355. That’s a significant gain for any town!
There’s more good news for Louisville sellers and concerning news for Louisville area buyers. The days on market have decreased for the average home dramatically. Homes in hot areas of town (priced correctly and in good condition) were on the market 69 days in September 2015 84 days in September 2014 for a reduction of 17.86%.
The good news continues for the number of homes that sold in Louisville during September 2014 up 12.9% over the year before and the number of homes going under contract increased 17.9% over September 2014. The concern is the lack of homes...
Staging Your Home for a Fall Showing
Selling your home in Louisville during Autumn can be wonderful. There's less competition on the market and the season gives you the opportunity to show case your home as a great place to cozy up for the winter. Follow the step below to stage your home for a fall showing and you'll be closing before the holidays.
1. Lighten Up
As the seasons change, the days get shorter and the nights getting longer. This is good for sellers. Why? Because not only do well-lit rooms look bigger, but they're also more inviting. Before a showing, make sure to turn on all your lights, especially ones you can see from the street. Buyers will feel that glowing welcome as soon as they arrive.
2. Start a Fire
Close your eyes and envision yourself in a warm, cozy room. Do you see yourself relaxing in front of a bright fire? Yeah, the buyers do too. Few things say “welcome home” like an inviting fire in the fireplace and some well-placed candles, so take advantage of the season and help buyers see themselves at home during your open house.
3. Use Seasonal Scents
A general rule when showing a home is to stick to unscented candles, since you never want to alienate a potential buyer who has an aversion to a certain scent. However, if you’re showing your home in the fall, it's your chance to break that rule and light a few apple cinnamon or pumpkin pie candles. The reason being is smell is so intricately tied to emotion and harnessing the aroma of fall will evoke memories of apple picking, pumpkin carving, leaf raking and other family-friendly activities. So, call your friend...
The Two Reasons NOT to Have an Open House when Selling Your Louisville Home
It's an Open Invite to Criminals
Not only do open houses displace sellers and cause them inconvenience (cleaning, pet care and other preparation), but they put sellers and their belongings, as well as their Louisville Realtor at huge risk. Although there are no Realtor sponsored studies on how robberies, burglaries and other violent crimes are linked to open houses, Realtors are always and forever being reminded by NAR about how dangerous they can be for both their clients and themselves. Open houses are an excellent resource for criminals. Not only can any criminal just walk in to an open house and case it, they're invited to do so! There is no screening process to determine if they can afford the house or if they have a criminal record.
Criminals going through an open house are open to many opportunities depending upon the type of crime they intend to commit. As decoys or other visitors distract the Realtor, the criminal often has access to the entire house and can often view calendars identifying when the sellers will be gone, pictures of children and other vulnerable family members, location of valuables and....the list goes on. In addition, the Realtor herself may be in danger of a violent crime if there are no other visitors and she is alone. Open houses are an awful and very real security risk.
Related: 3 Things to Know When Selling On Your Own
Homes With Pools in Louisville
Thinking of buying a home in Louisville with a pre existing pool or hot tub? If so, there are some things you need to know to ensure they continue to run smoothly.
First, get an inspection. Your local pool professional should be able to send someone out to your home to check the integrity of the structure of your pool and hot tub and let you know how much "life it has left" in it.
Next, as the new owner of a hot tub, you want a fresh start so that it's YOUR hot tub. Start by cleaning the plumbing, changing the filter and draining the water (be sure to turn the power to the hot tub off before you drain it). Once it's empty, wipe down the walls and seats with a hot tub cleaning product. After the filter has been replaced and the tub has been cleaned, you can refill the tub back up to the skimmer level.
Now, that your hot tub is clean and brand new to you, you'll want the water to stay clean and healthy. This means having the right balance of chemicals in the water.
Bring a sample of the water, as well as any chemicals the previous homeowners left behind, to your local pool professional. They can analyze the water and how to use the chemicals to keep the water in balance. You must use a proper sanitizer, chlorine or bromine, to kill the bacteria in the water (water treatment systems will not kill the bacteria). They will help to keep the ph, alkalinity and hardness levels balanced as well. Make certain to only use chemicals, cleaning products and scents that are specifically approved for hot tub use.
If you've become the new owner of a pool,...
Any concern Louisville's home sales market was stalling out was quashed in June 2015. After several months of good, but not overwhelming home sales, The Greater Louisville Association of Realtors (just released numbers), shows June home sales skyrocketed last month. The number of homes going under contract in June 2015 was up 22.3% over the same month year before. The number of homes closing last month was up 16.9% over June 2014. By any measure, Louisville home sales are on track to reach new records this year.
Here are the numbers that impress even the skeptics:
- The average days on market down 6.82% from a year before.
- The average sales price up 1.47% from June 2014.
- The number of homes sold, year to date, as of the end of June 2015 compared to last year at the same time were up 11.5%.
The only concern is the number of active listings on the market. As of the end of June 2015 the number was down 17.2%. That's a concern because if buyers don't have options when it comes to choosing a home, home sales could stall in July and August.
The number of new listings that came onto the market in June 2015 was down only .9%. It's an indication that sellers were waiting until summer hit to put their home on the market, hoping for the best price and fast sale. Still, with buyer’s sales up and the number of homes on the market (compared to the same time a year ago) down we have a firm sellers market.
We measure home sales with something called an “absorption rate”....