The Louisville Real Estate Show Questions
Louisville has once again made it to the top of a list as one of the best places in America to live! This time it is because not only is Louisville a highly desirable city to live in, it is also affordable for those who wish to own a home!
Recently an article was written touching on the affordability of owning a home in America today and the belief of some Americans as to the attainability of making the dream of homeownership a reality.
The article stated that many Americans feel it is impossible to be able to purchase a home. As we see an increase in the amount of jobs available in the labor market, wages have not risen much to match the inflation of today’s cost of living. According to Brookings Institution, the average median wage in the country for workers aged 25-54 (when adjusted for inflation) has only risen 3% since 1979.
Despite home buyer beliefs and slower rising wages, the article also went on to say that there is now more hope and help than ever for first-time homeowners...
Louisville is a very special city and a beloved place to live for so many reasons. One of them is the many activities there are to enjoy by just taking a stroll down some of the city’s most walkable streets.
A favorite spot amongst Louisville locals as it is a very fun place to walk around, shop local small businesses, and enjoy a fabulous meal, or enjoy some nightlife. Most of the activity on Bardstown Road is concentrated in the Highlands neighborhood (great for those wanting an outgoing lifestyle at their doorstep). Some popular shops include Acorn and Hey Tiger and popular bar hangs include Chill Bar...
Our SokolerTeam agents work hard all year long. This past week we had a chance to spend some time at dinner with their families. We added an award component to the event this year. Thank you team for making us number 1 eleven years in a row for helping people in Louisville and Southern Indiana,...
Christmas lights are one of the most beautiful and awe-inspiring decorations during the 2019 holiday season. It is fun to grab your favorite people and just drive around town taking in the different light displays on a cold night. Louisville is one of the best places to enjoy Christmas lights there are special light display events as well as entire neighborhoods that go all out and encourage people to come by for a look.
One of the favorite places to hang out and just catch up with a friend or to get out of the house in the middle of the day is the local coffee shop. Louisville has some great locally-owned coffee shops that are popular amongst Louisville residents. Here are the most popular coffee shops in Louisville.
Highland serves up amazing coffees and teas while giving back and being environmentally conscience. The shop donates all used coffee grounds to local farmers because they make great fertilizer. In the winter the shop is heated only through the equipment used in the shop to help conserve energy.
Heine Brothers’ is a Louisville local staple with 11 locations around town. The coffee is guaranteed to be expectedly great and consistent in each location, while the vibe of each shop is specific to the neighborhood. People love the coffee, some come in just for the chai, and they enjoy a quick bite or dessert from Deserts by Helen.
A hip and trendy spot that fits right into the hip and trendy Nulu neighborhood. Stop in for a cup of coffee and stay to enjoy the DJ booth, baked goods, and selection of records for sale.
Looking for a coffee place that takes coffee to the next level? A place that really knows the art and science of a good cup of coffee? Quills is the place for the serious coffee lover. They also sell...
The neighborhood of St. Matthews was once the suburb of St. Matthews prior to the annexation of the area into the city of Louisville in 2003. This neighborhood is home to Louisville’s largest shopping district on Shelbyville Road, plenty of movie theatres, and of course single-family homes that were once part of suburbia.
The neighborhood started out as a settlement in 1779 when Colonel John Floyd purchased 2,000 acres. The land transitioned into a rural neighborhood as the land was gifted to soldiers for their service during the French and Indian War and it remained that way until a shopping center was built in the 1920s. The neighborhood saw exponential growth during the flood of 1937 as residents moved to higher ground.
Related: Best Parks in Louisville
The highlands is one of the most popular neighborhoods in Louisville. The highlands is often also called “The Strip” and “Restaurant Row” and is most known for the collection of restaurants, bars, night clubs, and local boutique shops. You will find the highest concentration of bars and restaurants in the whole city of Louisville in the three-mile stretch of Bardstown Avenue and Baxter Avenue in the highlands.
There are many great restaurants in the highlands, almost too many to count. No matter what your taste and food preference you will probably find something great to nosh on within your budget. While it is hard to narrow down the best highland restaurants to just a few we have complied a list of the most popular amongst Louisville locals.
Packed with Real Estate Questions and answers...What's happening to Real Estate? Buyer or Seller? Love Real Estate? You can listen to our latest Radio Show here! Stay up to date on Louisville, KY Real Estate. Also, check out www.louisvillequestions.com. Be sure to listen to our Louisville Real Estate Show on 840 WHAS Sunday morning from 8:30-9:00 am! Have a question for our team of experts? Call (502) 252-1890 or (502) 376-5483 to leave a question. For more information about Louisville Real Estate or to work with the hardest working Real Estate Team in Kentucky “The Sokoler Team" at REMAX Properties East, 10525 Timberwood Circle, Louisville KY 40223 head to www.WeSellLouisville.com. email bob@WeSellLouisville.com or call (502) 376-5483....
Louisville has some of THE best food around. One of the most loved American eats may have gotten its start right here. The cheeseburger.
Legend has it that Carl Kaelin, the owner of Kaelin’s a former beloved diner in Louisville for many years, invented the cheeseburger not long after the diner opened in 1934. Of course, there are chefs in California and Colorado who also claim to have begun the popular trend of putting a delicious slice of cheese on a minced meat patty. No matter who truly was first we think Louisville has some of the best cheeseburger joints in the country. Here are some of the best spots to grab a cheeseburger in Louisville:
Serving up a traditional old-fashioned style cheeseburger is Check’s on E Burnett Ave. The single with cheese offers up a hearty and comforting meal for those looking for a classic style cheeseburger. If you are extra hungry go for the double....
One of the most beloved things about living in Louisville is the great parks. Louisville has over 120 public parks just within the metro area and many of them were created by the same landscape architect that created Central park, Fredrick Law Olmstead.
Located in the Highlands at the east end of the city, Cherokee Park is quite possibly the most loved park in Louisville. This park is not just a hotspot for locals it is a popular attraction for tourists as well. Cherokee Park sees about 500,000 visitors a year; it is one of...
Louisville is known for a few different reasons among those that don’t live here, mainly baseball bats and a name that doesn’t phonetically make any sense. To those who call the River City home, there are so many reasons to love it. Here are some of the top reasons why people who live in Louisville love living in Louisville.
It’s fun to say and if you are not from around here a local may have fun listening to the way you pronounce the name of their beloved city. Nothing confuses outsiders more than how locals pronounce Louisville. Say “Loo-ee-vill” or “Loo-iss-vill” and you will give yourself away like an out of towner right away. Even a spoken “Loo-ee-vul” might turn a head. The correct way to pronounce it is “Loo-a-vul” or if you really want to look like a knowledgeable local you would say “Luhl-vul.” ...
Loaded with Real Estate Questions and answers...What's happening to Real Estate? Buyer or Seller? Love Real Estate? Stay up to date on Louisville, KY Real Estate. You can listen to our latest Radio Show here! Be sure to listen to our Louisville Real Estate Show on 840 WHAS Sunday morning from 8:30-9:00 am! Have a question for our team of experts? Call (502) 252-1890 or (502) 376-5483 to leave a question. For more information about Louisville Real Estate or to work with the hardest working Real Estate Team in Kentucky “The Sokoler Medley Team" at REMAX Properties East, 10525 Timberwood Circle, Louisville KY 40223 head to www.WeSellLouisville.com, email bob@WeSellLouisville.com or call (502) 376-5483.
Louisville's average sale price is up almost 3%, the areas average median sale price is up more than 1.5%, but the problem felt by anyone looking for a home in the $50,000-$300,000 price range is just finding a home. The number of Louisville homes on the market has dropped 15% from a year ago. The reason it's a bigger problem now is that there are more people in that price range looking for a home than ever before. In addition to Millennial's looking for a home, you have boomerang buyers (people who have had credit problems and whose homes went into foreclosure or short sale between 2008 and 2014), now able to look for homes, move-up buyers and individuals who are downsizing.
Additionally, Home builders are trying to build homes as fast as they can.
But because many of the trades got out of the industry during 2008 to 2013, finding plumbers, electricians and woodworkers are harder than ever. So construction of new homes is slower than it should be.
We're seeing more buyers continuing to look for homes here in August than in years past. That's an indication that there are still plenty of buyers looking for
that perfect home. In fact, the most recent numbers from the Greater Louisville Association of Realtors (G.L.A.R) shows that the number of homes sold in July 2017 was down just .1% when compared to the same month in 2016. That's a clear sign that buyers are getting concerns they may not find their perfect dream home and are buying homes that they hope to turn into that dream home. Interestingly enough the number of pending homes was up 7.9% during the same time frame.
It wasn’t the weather, home prices, lack of buyers or Interest rates that slowed Louisville home sales in February 2017. Plain and simple it was a lack of inventory that caused sales to drop by 6% last month compared to February 2016. Buyers are having trouble finding homes especially in the $100,000 to $349,000 price ranges (see our absorption rate chart below).
Actually, the drop in home sales could have been a lot worse considering there were 20.6% fewer homes on the market last month compared to a year before. That 20.6% drop equates to approximately 1000 homes and when the inventory only totals 3652 homes, a drop of approximately 1000 homes represents a large chunk of potential homes to buyers. Remember, buyers are desperately trying to find a home before interest rates go up again.
There are several reason homes in the $100,000 to $349,000 price range are in short supply:
What's happening in the Louisville Real Estate Market and why is Bob Sokoler in Cancun Mexico? Here's our Monthly Louisville Home Sale Market report for December 2016...
Election outcome could trigger Louisville Home Buying Frenzy!
Louisville home prices are up, Louisville home Sales are up but inventory remains lower than expected but all bets are off if interest rates start climbing! The news is good for most homeowners but because of the act of inventory homebuyers could be faced with a difficult choice in the near future. What will they do if interest rates start to inch up or down in December 2016 and beyond?
It’s very possible rates could increase because during the last Presidential debate, Donald Trump talked briefly about the government artificially holding down interest rates to help the economy improve. It sounded like he was not in favor of that practice continuing if he was elected.
Yet surprisingly the day after the election mortgage rates slightly dipped. “Mortgage rates are falling because investors are seeing safe yields in U.S. mortgage backed securities, reflecting their confidence in the relative safety of the U.S. housing market,” wrote Trulia chief economist Ralph McLaughlin the day after the election.
If rates move at all buyers on the fence right now may jump off trying to find a home in a traditionally slow buying time of the year. This may set up the perfect reason for sellers thinking about putting their home on the market to explore listing their home. The lack of homes could mean a home selling for more money and faster. It depends on price vs. inventory. This may be the perfect time to call Bob Sokokler at (502) 376-5483 to schedule an appointment to review the process of selling your home.
The graph below shows the absorption rate for homes (see the month supply on the right side). Clearly anything with a less that 5 month supply is a sellers market but homes...
Energy efficient homes are a top priority for many people. Who doesn't want to save money on costly energy bills? Making your home more energy efficient to cut some costs can seem like something unattainable to people without large sums of cash. When we think energy efficiency we tend to think expensive items like energy star appliances, and tankless water heaters. There are actually a number of ways to make your home more energy efficient without spending your life savings. These steps are the first actions any home owner should take toward a more energy efficient home.
This may seem like such a simple and minimask, but it is one that comes with huge impact. Replacing air filters makes a huge impact on HVAC systems especially where air conditioning S utilized. It is difficult for your AC to work optimally when air is being pushed through a dirty filter. Clean filters mean rooms reach a desired temperature faster and less work for the AC/heating system saving lots of money.