The WeSellLouisville.com Louisville Real Estate BlogRecently posted or modified blog posts by tag - Louisville Real Estatehttps://www.weselllouisville.com/blog/Copyright WeSellLouisville.com2023-09-03T13:02:50-07:00tag:weselllouisville.com,2012-09-20:21484The Louisville Real Estate Show Questionshttps://www.youtube.com/channel/UC2O5BoAYEtc5RzhWHUv8bEQ2023-09-03T12:49:34-07:002023-09-03T13:02:50-07:00Bob Sokolertag:weselllouisville.com,2012-09-20:8073I'm a First Time Home Buyer, Where Do I Start?I'm a First Time Buyer. Where Do I Start?
Home <a href="https://www.weselllouisville.com/buy/">buying</a> can be intimidating and nerve wracking and rightly so. It's a complex process. However, there is hope for it to not be as overwhelming as all of that. How? By reading a list like that below to start you on your road to home ownership.
Start Here:<img src="https://assets.site-static.com/userfiles/309/image/photodune-197580-happy-couple-with-real-estate-agent-xs.jpg" width="350" height="232" alt="First Time Home Buyers in Louisville " title="First Time Home Buyers in Louisville " style="float: right; margin: 11px; border: 2px solid black;" />
1. Find a professional and experienced Realtor to work with. This person will be your "Buyer's Agent". Your Realtor will be a guide and resource to what, when and how to do things. He or she will also manage all of the contracts, deadlines and details for you, making life that much easier.
2. Get pre-approval for a mortgage with a lender of your choice. This is best done face to face after interviewing a few of them by phone or through email. Your Realtor will suggest a few lenders for you to try from their networking and connections as well as coach you on the right questions to ask.
3. Pick a neighborhood or <a href="https://www.weselllouisville.com/louisville-real-estate/">community</a> you like that is within your price range. Also consider factors such as commuting time, <a href="https://www.weselllouisville.com/blog/oldham-county-schools-best-in-the-nation/">schools</a> and proximity to daily needs. Your Realtor will help you with information on subdivisions and price ranges, but be sure to do some independent research by driving around on your own time to compare and decide.
4. Now it's time to choose. Your Realtor will provide details on all available homes in your area within your budget. After you pick your favorites, your Realtor will arrange the showings and accompany you to each property you've chosen.
5. Once you find a home that's a good fit, it's time to make an offer. Issues including offering price, closing date, and other terms will then need to be discussed. Your Realtor will guide and help you through this whole process from A to Z.
6. When your offer is accepted, it's time to start the closing process. There will be property inspections and negotiations. Your Realtor will once again make sure that everything is done correctly and on time with no stone unturned.
7. Finally, the day you've been waiting for arrives. Your Realtor will accompany you to the "closing" and help you sort through any last minute questions you may have. You have become a home owner and can now start moving in and making your new home "your own".
Related Post: <a href="http://www.longislandrealestatesearch.com/tax-advantages-of-home-ownership/" target="_blank">Tax Advantages of Home Ownership</a>
So, there you go. That's the basics of the process from start to finish. Hopefully, you're feeling a little more prepared now as a first time home buyer and a little less over whelmed.2014-10-22T09:42:00-07:002014-10-22T12:53:27-07:00Bob Sokolertag:weselllouisville.com,2012-09-20:6810Louisville's Top 6 Home Selling Mistakes And How You Can Avoid Them Reme<img src="https://assets.site-static.com/userfiles/309/image/Screen_Shot_2014-01-24_at_11.04.32_PM.png" style="margin: 20px; float: left;" height="284" width="247" />mber this number – 332. That’s the number of homes our Sokoler medley team sold last year. Yet, despite the enormous success there are still frustrations.
There were a small number of homes that never sold. This may sound ridiculous to you but I did lose sleep wondering what was wrong, why didn’t those homes sell. We’ve teamed up with 1000 top agents around the country through active rain to study why a home doesn’t sell. If you’re thinking about selling a home this year the following information is very important to you and could mean the difference between listing and selling your home and just listing your home.
As top agents we found the number one problem to be over pricing your home. It happens and 77% of the cases where a home doesn’t sell and we’ve seen sellers overprice a listing because they need to get money out of it. Yet because of new appraisal regulations there’s no way a seller will get anywhere close to their asking price.
It’s a simple fact if homes in your neighborhood are selling for less don’t expect your home to sell for more. In 34% of the cases were a home doesn’t sell its because the seller has made it difficult for the home to be shown. Selling a house is a job and it can admittedly get tiresome. But buyers and their agents are on a schedule, their goal is to see as many homes in a day to make a decision. Often the homes are spread out over a section of the city. Doubling back to try to accommodate schedule just won’t work.
A buyer would rather skip a house that’s not available at their selected time then lose time seeing homes that may also serve their purpose. 32% of the homes that didn’t sell showed cluttered. When it comes to selling a home less is more. Less furniture in a room takes that room look bigger, less knickknacks on a kitchen countertop but only makes the kitchen look bigger and more like a model but it also eliminates the buyers concerned that there’s not enough countertop space or not enough covered space. The other items on our list are pretty straightforward. Cat and dog owners need to be eliminated in any way possible. Be prepared to make repairs and be flexible with regards to negotiating.
These last three items are deal breakers for a number of buyers and in some homes they are also related problems. Often an animal has chewed wood work or left stains and odors. Those items should be remedied before putting a home on the market but in most cases will play a part in a reduced sell price if visible while on the market. We have one home right now that’s been listed for close to a year. It’s spectacular and features great upgrades. But the majority of the feedback has centered on pet odors. It’s obvious even a great home and a good price will not overcome problems like pet odors.
For more information about Louisville Real Estate or to work with the hardest working Real Estate Team in Louisville Kentucky “The Sokoler Medley Team” (AKA The Real Estate Bulldogs) at RE/MAX Properties East 1head to <a href="https://www.weselllouisville.com" target="_blank" rel="nofollow">https://www.weselllouisville.com</a> or call (502) 376-5483. With a decision this important, it’s nice to have a team of BULLDOGS on your side! 2014-01-24T20:59:00-07:002014-01-24T21:14:09-07:00Bob Sokolertag:weselllouisville.com,2012-09-20:6767Should We Buy or Sell First in Louisville Real Estate?Should We Buy or Sell First in Louisville Real Estate?
Sometimes it happens. You are currently making mortgage payments on a home you either still have on the market but hasn't sold OR that you've only considered selling and then it happens. You see your dream house in your ideal <a href="https://www.weselllouisville.com/louisville-real-estate/">neighborhood</a> is for sale and at a stellar price! What do you do?
It is possible to buy a new house before your old one sells, but unless you have serious income, it is risky business and not recommended. Here are some things to look at when considering if buying before selling is a smart move for you:<img src="https://assets.site-static.com/userfiles/309/image/home_buyers_in_real_estate.jpg" alt="Should we buy first or sell first in Louisville" title="Should we buy first or sell first in Louisville" style="float: right; margin: 11px;" height="200" width="293" />
Benefits of Buying First
It's true that most people are in no position to buy before selling but it's still worth looking at the benefits of doing so before making the ultimate decision. After all, there is a reason that such an idea is crossing your mind.
Everyone wants a great deal and many of us have an idea of our <a href="https://www.weselllouisville.com/">dream home</a>. When an opportunity pops up that meets both of these requirements, how can you not consider it?! The perks are that you can see yourself being perfectly happy living out your days in this home and you can see how much money you'll net when do actually sell your current home. Plus, how nice will it be to have a place to move into immediately once you do sell your current home?!
Then, there's also always the potential of carrying both homes, if you have the finances, and rent your first home out. This is an especially intriguing idea if the <a href="https://www.weselllouisville.com/blog/louisville-home-sales-conitnue-to-climb/">market is on the rise</a> and you see the potential for selling your home down the road for even greater profit.
Lastly, how great would it be to do any improvements you're wanting to make on your dream home while you still have somewhere else(your current home) to live?! Many would give their right arm for this opportunity! Put in those wood floors, paint and remodel the kitchen while it's still vacant!
These are all great benefits but let's not forget to consider the risks. There are reasons why this isn't a good idea for most people.
Risks of Buying First
<img src="https://assets.site-static.com/userfiles/309/image/sold_home_ruler.jpg" alt="Sold home in Louisville real estate" title="Sold home in Louisville real estate" style="float: left; margin: 11px;" height="300" width="200" />First and foremost, you must look at your finances. Selling your current home is an uncertain business and it may take many months to accomplish. Therefore, can you carry both mortgages for an uncertain amount of time?
If you can't then you better not give it a second thought. However, it is possible to go other routes. We'll mention those now, but please note, these may or may not work depending on the current situation of the market and your particular financial situation.
Home sale contingencies: This is where you can offer to the <a href="https://www.weselllouisville.com/sell/">seller</a> of your dream home that you will buy it on the contingency that your current home sells. The problem with this is that very few sellers agree to it especially if it's a seller's market because they lose control of their own transaction. How do they know if you'll do all it takes to sell your home? They may be waiting forever for you to actually buy their home.
Right of First Refusal: This is where you enter into a contract with the seller of the home you want stating that there's a specified amount of time that the seller gives you to exercise your right to proceed with the transaction should the seller receive another offer. Therefore should the seller receive another offer, you'll have a short period of time to purchase, before the deal dissolves whether you've sold your first home or not.
The chances a seller will agree to contingencies or right of first refusals with contingencies is extremely remote. Why should they enter into an agreement with you unless you have the finances to carry both your current home and buy their's at any time when they can accept an offer from someone who has no other house to sell?!
Bridge Loan: Bridge loans make it possible for you to combine the mortgage of your old home with your new one so that you can transition from one home to the other. However don't count on this route. It is only for the exceptionally few that have the finances and superb credit to afford the dual mortgage payments without the loan.
Renters: You may have considered that you can just have renters move in and help pay the mortgage on your old home while you move into the new one. This has risks, however. Your renters may damage your old home because they don't love and care for it the way you do, or you may have problems getting renters to pay their rent etc.
Additionally, when you are ready to sell your old home, you may have problems getting your renters to leave and again...without taking any resentment out on your home.
So, it is possible to buy a new home before selling your old one but certainly not recommended. So, if you do, make sure you've really thought it all out and covered your bases.
2014-01-20T13:26:00-07:002014-01-24T20:56:12-07:00Bob Sokolertag:weselllouisville.com,2012-09-20:6752Snow Hits Louisville Area - Why are schools open?<img src="https://assets.site-static.com/userfiles/309/image/Snow_Hits_Louisville.jpg" alt="Snow Hits Louisville Area" title="Snow hits Louisville area" style="margin: 20px; float: left;" height="326" width="333" />Amazing! Jefferson County Schools open today when ice and snow cover streets and accidents are everywhere! Yet they closed schools earlier in the month because of the mere threat of bad weather. I would bet that the powers that control the school closings took heat for the pre-mature closing and decided to wait this one out.
Looking back now, poor choice don’t you think? Understandably it’s easy to say that now after the storm hit. To the school systems credit, the weather forecasters have a habit of calling for the sky to fall even when nothing happens. So is this a case of finding as reliable source for weather forecasting accurately?
Admittedly, some of these storms are difficult to predict. The sweeping storms coming across the U.S. have a tendency to change tracks and past models don’t hold up. Is it me, or is this winter worse than past years. I can remember years when we had several hit and miss storms but this year seams worse for some reason. Could we see a repeat of the Blizzard of 1994?
For more information about Louisville Real Estate or to work with the hardest working Real Estate Team in Louisville Kentucky “The Sokoler Medley Team” (AKA The Real Estate Bulldogs) at RE/MAX Properties East head to<a href="https://www.weselllouisville.com/"> https://www.weselllouisville.com</a><a href="https://www.weselllouisville.com/"> </a>or call (502) 376-5483. With a decision this important, it’s nice to have a team of BULLDOGS on your side!
2014-01-17T07:25:00-07:002014-01-17T09:19:31-07:00Bob Sokolertag:weselllouisville.com,2012-09-20:6615What Can $300,000 Buy in Louisville?What can $300,000 Buy You in Louisville?
$300,000 can get you a lot in Louisville right now. In fact there are currently 12 listings at this price range and they include anything from two bedroom one bath floor plans to five bedroom four bath options.
If you're looking for something with commercial potential, you'll love this <a href="https://www.weselllouisville.com/property-search/detail/3/1315844/1815-crums-ln-louisville-ky-40216/"> listing</a> for a two bedroom and one bath in the heart of Shively. With 1537 square feet, this corner lot property actually consists of two homes. The main home is a well maintained brick ranch style and the second home has three rooms and utilities.<img src="https://assets.site-static.com/userfiles/309/image/photodune-2924395-house-xs.jpg" width="270" height="405" alt="Homes for $300,000 in Louisville KY" title="Homes for $300,000 in Louisville KY" style="float: right; border: 3px solid black; margin: 11px;" />
Have a boat? Check out this <a href="https://www.weselllouisville.com/property-search/detail/3/1351281/490-moutardier-shores-dr-leitchfield-ky-42754/">listing</a> for a lake front chalet with boat slip. With 2272 square feet this four bedroom three bath beauty of a home has a finished basement and resides within a gated community.
If you like historic homes, you're going to want to visit this <a href="https://www.weselllouisville.com/property-search/detail/3/1363265/411-main-st-ghent-ky-41045/">listing</a>. This 3864 square foot home overlooks the Ohio River and has five bedrooms and four bathrooms. It was built in 1835, has four fireplaces and was previously known as The Ghent House Bed and Breakfast. Oh the stories these walls and halls could tell!
To get the most bang for your buck, see this <a href="https://www.weselllouisville.com/property-search/detail/3/1366708/3604-rock-bay-dr-louisville-ky-40245/">listing</a> for a 3661 square foot home with a great floor plan. This home features hardwood floors, chair rail, tray ceilings, ceiling fans and the master bedroom is on the main floor! The kitchen also opens to a huge deck overlooking a beautiful fenced in yard. What more could you ask for in a dream home?
If land is your thing, this <a href="https://www.weselllouisville.com/property-search/detail/3/1371160/4374-goose-creek-rd-sanders-ky-41083/">property</a> has 20 acres and 1606 square feet of home. Here, you'll enjoy a country atmosphere with a barn on the property! How charming! This home also features geothermal heating and first floor laundry.
2013-12-18T10:16:00-07:002013-12-18T13:20:15-07:00Bob Sokolertag:weselllouisville.com,2012-09-20:2692Louisville Home Sales for April 2012 climb!<img src="http://www.louisvillehomestoday.com/agent_files/istock%20keys.jpg" style="width: 350px; height: 233px; margin: 18px; float: left;" />Where is the News Media when you need them? One of the biggest Louisville stories of the past 2 years and the media is absent, missing, nowhere to be found!
Louisville Home Sales for the month of April were red hot. The number of homes going under contract in April was up 16 percent over the same period a year before. The number of homes sold during the same time period up almost 13 percent.
The reasons for the increase in Louisville Real Estate prices is simple:
Interest rates are at an all time low. In fact last month after a slight rise above 5 percent on a 30 year fixed loan, the rate actually dropped.
Home prices are starting to climb in some areas of Louisville. In fact the average sales price jumped from $155,406 in April of 2011 to $169,552 last month.
There is a tremendous amount of pent up buying power! Let’s face it a number of buyers sitting on the fence waiting for the price of homes to bottom out. Well as of now, based on price trends, we have passed the bottom and heading up the hill.
How busy are we? We planed for 13 home sales in April. We hit 22 sales during the last week of April and carried another 5 over to May. We’ve sold several homes and condos in days not weeks or months.
If the media ever picks up on the story home sales may pick up even more. Thinking of selling? Let us know and we’ll put together a CMA to check the value of your
Homes Under Contract
Homes Sold and Closed
Average Selling Price
Average Days On Market
Median Sales Price
April 2012
1452
1055
$169,552
89
138,000
April 2011
1222
921
$155,406
85
127,000
2012-05-01T20:14:00-07:002012-05-01T20:17:21-07:00Bob Sokolertag:weselllouisville.com,2012-09-20:2133Louisville Real Estate does not slow down for the holidays! <img height='217' width='332' src='https://assets.site-static.com/userfiles/309/image/Holiday_home.jpg' style='margin: 20px; float: left;' /> “Keep it on or take it off”? Our sellers always ask that question this time of year. “ Should we take our Louisville home off the market during the holidays and cold weather months”? Let’s face it; selling your home during the holiday season can be difficult. You need to keep the house show ready during the time you may be getting ready for a holiday party or when the kids are home from school and have made a mess.
As <a href='https://www.weselllouisville.com/about/'>Louisville Realtor</a> ranked 5th for volume of sales, my advice to our sellers is (unless you have no way to keep it clean) always leave the home on the market during the holiday season. Why? Because right now, even during the colder weather, there are people out there who really need to buy a piece of <a href='https://www.weselllouisville.com/'>Louisville Real Estate</a>. The fact that some sellers are advised to take their home off the market means a smaller inventory for those buyers to choose from there-by increasing the odds for your home to be chosen.
The advice is especially important this year with hundreds of Ford employees moving to the Louisville area for new jobs. In fact, we were out this weekend with a Ford employees looking at homes in several areas of town. We’ve also already <a href='https://www.weselllouisville.com/property-search/list/?searchid=609591'>sold a number of Louisville homes</a> this month to those buyers who really need a home. I bet my clients are glad they took my advice to stay on the market.
Need to sell your home? The Medley Sokoler Team can help. We’re setting new records this year for home sales. See what makes us different at <a href='https://www.weselllouisville.com/'>www.WeSellLouisville.com</a> or call me (502) 376-5483.
Bob Sokoler is a former Anchor/Reporter turned <a href='https://www.weselllouisville.com/about/our-clients-speak/'>Louisville Realtor </a>7 years ago, and co-owner of <a href='http://www.louisvillehomestoday.com/'>The Medley Sokoler Team</a> in Louisville Kentucky. You can learn more about Bob, his Team by clicking <a href='https://www.weselllouisville.com/'>Louisville Real Estate</a>.2011-12-11T18:27:00-07:002011-12-20T06:54:37-07:00Bob Sokoler