6510 Arbor Ridge Dr
Author: Bob | March 11, 2010
For more info head to our website: http://www.weselllouisville.com/inc/pmisc?pid=1796
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Extra Louisville Kentucky Tax Rebate
Author: Bob | March 4, 2010
Interesting news about buying a new construction Louisville home. An extra $5000 tax credit may be a reality for buyers of Louisville Real Estate that is brand new . We received word that HB 394 was passed in the House Appropriations & Revenue committee and now moves to the full House and Senate. The passage of this bill will allow us to use the KY tax credit along with the 1st & 2nd time homebuyer Federal tax credit and it will be retroactive!! I’ll keep you updated on this bill.
The official release was as follows:
House Bill 394, filed by Rep. Tommy Thompson, and co-sponsored by Rep. Bob Damron, Rep. Scott Brinkman, Rep. Ron Crimm and Rep. David Osborne, passed unanimously out of the House Appropriations & Revenue Committee, and will move to the Senate after passage in the full House.
This bill allows qualified buyers of new homes to utilize the state tax credit of up to $5,000 in conjunction with the Federal First Time Home Buyer Tax Credit of $8,000 for first time home buyers and $6,500 for repeat home buyers.
Prior to its passage, the bill was amended in Committee to also be retroactive for those individuals who were unable to take advantage of the state tax credit due to language incorporated at the Federal level in November of 2009, which inadvertently made the state tax credit of no consequence.
So buyers of new construction may be getting an additional $ 5000 dollars from the state of Kentucky.
For more info e-mail us or head to www.weselllouisville.com
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16900 EMPIRE CT
Author: Bob | February 10, 2010
• Fantastic Louisville Home on the Golf Course
• Contemporary styling
• Abundance of flair
• Light Oak wood floors
• Formal dining room
• Two story vaulted great room
• Eat in kitchen
• Screened in patio
• View of the 3rd green.
• Large master bedroom
• Walkout basement
For more information about us, head to www.weselllouisville.com or www.louisvillehomestoday.com.
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Louisville Home Buyer tax credit info and form
Author: Bob | February 8, 2010
Are you a Louisville Home Buyer Purchasing Louisville Real Estate or homes in other parts of the U.S.? New info has just been posted (2/8/2010) by the National Association of Home Builders regarding form 5405 as well as instructions for home buyers using it to claim the $8,000 first-time buyer credit as well as repeat buyers seeking to claim the $6,500 credit.
The updates to the form include information on the extended purchase date window (tax credit-qualified homes must be under contract prior to May 1 and close before July 1). Note that even though the revised Form 5405 still references the “First-Time Homebuyer Tax Credit,” it is also intended to be used by repeat home buyers, who must have lived in a single principal residence for five of the last eight years prior to purchasing their new home for which they plan to claim the tax credit.
What is new is that beyond these updates, the IRS is also requiring additional documentation for homebuyers who claim the credit for purchases after Nov. 6, 2009. Buyers must now provide a copy of the HUD-1 form or, in cases where that form is not used, a certificate of occupancy for a newly constructed home. For purchases taking place after April 30, a copy of the signed sales contract must also be supplied. Meanwhile, in order to claim the $6,500 repeat buyer tax credit, homebuyers must attach one of the following for five consecutive years of the last eight to demonstrate that they meet the repeat buyer qualifications: a Form 1098 reporting mortgage interest; a property tax statement; or home insurance records.
Tax credit buyers should also know that, due to the new documentation requirements, those claiming either the $8,000 first-time home buyer credit or the $6,500 repeat-buyer credit cannot e-file. As a result, taxpayers should be prepared to wait at least 12 to 16 weeks to receive their refunds.
To get a copy of the form needed to file for the tax credit download the form by clicking here: http://www.louisvillehomestoday.com/agent_files/IRS 5405.pdf
For more information about us, head to www.weselllouisville.com.
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Louisville 2010 Home Sales Off To A Good Start
Author: Bob | February 2, 2010
The New Year has started off in the right direction for Louisville Kentucky Real Estate. New Louisville Home Sales Numbers are in for Jan 2010 and they are up some 25% over January 2009. There were 702 Louisville homes selling last month compared to 529 the year before ( that number actually hit 802 homes in January 2008). It means the market is coming back but it still has a way to go. The number of homes going under contract last month was also up (772) compared to a year before ( 707).
The bulk of homes sold was in the 100,000-160,000 price range. That’s the perfect price range for first time buyers trying to take advantage of the $8000 tax credit. We expect to see this price range heat up even more as we get closer to the April 2010 deadline (to be under contract) and June deadline (to have closed).
There was more good news (at least on the surface) for the number of days a home sat on the market in January 2010. The average DOM was 81 last month compared to 92 days the year before. However, closer examination shows that sellers are apparently changing realtors more often because of frustration with their home not selling. That resets the short-term clock but not the continuous days on the market (CDOM) clock. The average continuous days on the market in January 2009 was 125.46 compared to 126.09 in January 2010.
The bad news for sellers was the average selling price of homes. It was down from 160,018 in January of 2009 to 155,995 in January 2010. Part of th reason for that drop is because there are more first time buyers in the market.
February 2010 has started strong. Our phones are busy ringing at The Medley Sokoler Team offices with buyers asking questions about homes on the market in the Louisville area. It may be another month or two before we see actual sales of homes kick into high gear.
That means buyers looking for a deal should be out in the market place now when there are fewer buyers. Sellers may be more accepting of a lower offer right now. Later on in the year, sellers will see more showings of their home and that will raise hopes for sellers that more than one offer may be heading their way.
For more information head to www.weselllouisville.com or www.louisvillehomestoday.com
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The Scoop On Louisville Short Sales
Author: Bob | January 30, 2010
So what is a Short Sale and why are you hearing so much about them? Buyers pursue short sales to get a good deal. So when we send you a listing with a price for a home that looks too good to be true, it usually means that the home is either a short sale or a foreclosure. You might want to think twice about making an offer on a pre-foreclosure, short sale or foreclosure home. It’s not as simple as you may believe, and we’re seeing some offers take up to 9 months to close.
In fact on average many of my Louisville home buyers have waited 4 to 6 months to close on a short sale, sometimes longer We’re certified to handle short sales through CDPE (Certified Distressed Property Experts). We know there are ways to speed up a short sale by having complete packages ready to go to the bank on our listings. But when we represent a buyer who wants to buy a short sale we don’t represent, we’re at the mercy of the selling agents experience (or in many cases lack of it).
A short sale actually means the seller’s lender is willing to accept a discounted payoff to release an existing mortgage. The problem is that just because a property is listed as a short sale doesn’t mean the lender will accept your offer, even if the seller accepts it.
The main problem is the seller has to have a hardship before a bank will accept a short sale. It may be because of a loss of job, medical problem, divorce etc. All short sales are sold AS IS which means neither the bank or the seller will make repairs. Many of the homes we see are in need of a lot of repairs because the seller doesn’t have the money to repair the problems. So the home sits in trouble until someone comes along and buys it.
Another problem if the offer on the property from the buyer is too low, even thought the seller may accept it, the many may not. So it’s a real crap shoot. For 1st time buyers looking for the $8000 tax credit, a short sale is not the way to go.
For more info on selling your home head to www.weselllouisville.com
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Billtown Farms
Author: Bob | January 25, 2010
Billtown Farms has a new website put together by their homeowner association board. This is a great idea for subdivisions who want to spread the word about their community and keep residents up to date with the latest homeowner news. Costs to create a neighborhood website vary but usually it only takes one person with some basic knowledge to maintain the website. Congratulations to Billtown farms and their new community website www.billtownfarms.com. For more info on Billtown Farms and other Louisville real estate and Louisville Homes head to www.weselllouisville.com
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5807 RIVER CREEK DR
Author: Bob | January 14, 2010
· Amazing water front property
· Gated community
· Harrods Creek
· 4,400 spacious square feet
· 1 1/2 story walkout
· 5 bedrooms
· 4 full and one half baths
· Vaulted foyer
· Formal dining room
· Study/Office to the right
· Spacious great room
· Great room
· Maintenance free deck
· Enormous backyard
· Granite countertops
· White raised-panel cabinets
· White tile flooring
· Luxurious first floor owner’s suite overlooks Harrods Creek
· For more info head to www.weselllouisville.com
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16900 EMPIRE CT
Author: Bob | January 13, 2010
· Golf Course home
· High contemporary styling
· Abundance of flair
· Light Oak wood floors
· 2 story foyer
· Vaulted ceilings
· Designer chandelier
· 2 story vaulted great room
· Triple atrium
· Vent-less gas fireplace
· Large eat in kitchen
· Large master bedroom
· Walkout basement
· Private cul-de-sac lot with breathtaking views of golf course & woods
· Polo Fields
· Louisville Real Estate
· For more info visit www.weselllouisville.com
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6510 ARBOR RIDGE DR
Author: Bob | January 10, 2010
6510 ARBOR RIDGE DR
· WOW FACTOR
· Louisville Real Estate
· Leaded glass front door
· Hardwood floors
· Formal dining
· 2 story great room
· Gas fireplace
· Custom cherry kitchen cabinets
· Granite counter tops
· Stainless steel appliances
· Ceramic tile
· First floor large master suite
· Master bath with his and hers walk-in closets
· Duel vanities
· Separate shower
· Self-cleaning, heated bubble tub
· Private water closet
· Screen enclosed deck with ceiling fan
· Trek (maintenance free) boards.
· Arbor Ridge
· Oldham County
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4708 WOODED OAK CIR
Author: Bob | January 7, 2010
· Great example of Louisville Real Estate for a great price!
· Perfect for 1st time buyer or someone ready to downsize!
· 3 bedrooms, 2 full baths offers an extra finished 20 x 8 bonus room that has been finished with a window and is currently being used as a playroom.
· The home features a large master suite, with two walk-in closets. The upstairs second bedroom also has a walk-in closet.
· The 1st floor bedroom could be the master.
· The oversized vaulted 17 x 19 great room showcases a wood burning fireplace with a gas starter and opens into the very open and spacious gourmet kitchen
· The home has one of the largest backyards located in Oakhurst! The house also features a 16×16 deck along with a 10×11 patio.
For more info head to www.weselllouisville.com
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2010 will be a better year for all!
Author: Bob | December 24, 2009
Many people feel we need to toss much of 2009 in the trash can! It was a bad year for many people. The loss of jobs throughout the United States has meant the loss of homes for thousands of people! As Louisville Real Estate agents helping people facing foreclosure and short sales, we know the problems and we think about people in need daily. As our team got together this holiday season we took time to remember those in need and pledged to help them in 2010!
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Louisville Ranks in Top 25 for Forbes Best Bank For Buck Cities.
Author: Bob | December 2, 2009
Why move to Louisville? Forbes Magazine will tell you! A new report on Forbes.com rates the Best Bang-For-The-Buck Cities. The report is based on a number of criteria including Solid housing markets, relatively stable employment, enviable cost of living and quick commutes make these metros among the country’s most affordable to live. Out of the 100 cities ranked in the report.
Louisville Kentucky ranked 24th easily beating cities like Indianapolis (ranked 40), St Louis (ranked 44) and Cincinnati (ranked a whopping 70).
Louisville get’s it’s best score, (ranking 17th) for our lower real estate takes. Our worst score (66th) was for Unemployment. The report quotes Kermit Baker, a senior researcher at Harvard University’s Joint Center for Housing Studies.”These are sleepy little markets that have fallen under the radar screen in terms of turbulence in housing, they didn’t go through much of a boom or bust.”
That in fact is the key to Louisville’s success. Our 3% home appreciation (on average per year) has kept us from out-pricing the real price of homes
To gather the rankings, that offer most bang for the buck, Forbes looked at the country’s 100 largest Metropolitan Statistical Areas–geographic entities defined by the U.S. Office of Management and Budget. They then used a variety of data including foreclosures as a percentage of home prices; vacancies; unemployment rates; a three-year job-growth forecast; a three-year home-price forecast; housing affordability; median real estate taxes; and median travel time to work.
The top 3 cities were Omaha Nebraska, Little Rock Arkansas and Jackson Missouri. The bottom 3 were New York City, Miami and LA. For more information about Louisville Home Sales and Louisville Real Estate, head to www.weselllouisville.com
Topics: For Buyers, For Sellers, Trends | 1 Comment »
Buying or selling a Louisville home? Do Not FaceBook it!
Author: Bob | November 24, 2009
Anyone who is a member of the social media website FaceBook will tell you it’s a great place to keep track of what friends are doing. But you can go too far! Recently a home buyer posted an entry about their negotiations with their agent and the seller’s agent on the home they were going to buy. It kept friends right in the middle of the events. But it also posed a serious problem. The posts could have tipped off the seller’s agent about the negotiating strategy of the buyer. The seller’s agent apparently found out about the FaceBook posts after the negotiations were completed. But it serves to reason we all need to think about giving out too much information, especially something that is ongoing in our lives like buying or selling a Louisville home. For more information about the Medley Sokoler Team, head to www.weselllouisville.com.
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Tax Credit Extended
Author: Bob | November 6, 2009
Here are the details on the Tax crdit that will help Louisville Real Estate home Buyers:
1) Tax break for buying a home The legislation also would extend the $8,000 homebuyer tax credit to contracts signed by April 30 and closed by June 30. The controversial credit, which many say has boosted home sales in recent months, was set to expire after Nov. 30.
2) The bill also creates a $6,500 credit for those who buy a home after living in their current house at least five years. That measure would apply to contracts signed by April 30 and closed by June 30. The current credit defines a first-time homebuyer as someone who has not owned a residence within the past three years.
3) The credit would be available only for the purchase of principal residences priced at $800,000 or less.
4) The bill would raise the adjusted gross income cap to $125,000 for single filers and $225,000 for joint filers. The amount of the credit currently begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.
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Louisville Home Sales for September 2009 Skyrocket!
Author: Bob | October 1, 2009
The Real Estate Sales numbers for Louisville Kentucky are in for September 2009 and the picture is loud and clear! The number of homes sold up 13 percent from September 2008 and up 4 percent from September 2007 (see raw data below). Additionally, the number of homes going under contract in September 2009 compared to September 2008 up 23 percent. When compared to September 2007, the numbers are up 14 percent. That is amazing!
The reason is simple the $ 8000 tax credit. How can I tell? Easy, look at the area breakdown for sales and average prices (see below), based on the average price of homes many of the sales were 1st time homebuyers. Other higher sales prices are coming from home owners moving up to a 2nd home.
Yet, our lawmakers in Washington are about to do battle with each other trying to decide if they should continue, stop or expand the $8000 dollar tax credit. Do they understand that home sales drive the economy? Apparently it’s not clear to all lawmakers. Everyone from builders and construction crews to electronic stores selling new flat screen TV’s for the new homes and thousands of stores and manufacturers who supply the sofas, sinks, lights and paint all benefit from the tax credit. The recovery in this country is in danger sliding backwards if the tax credit expires on November 30, 2009.
Our lawmakers have the power to expand the tax credit for all home buyers. But do they get it? We’ve written our representatives, I urge to do the same. They may not listen (nothing new there) but at least we can try. Let them fight over the health care issue and the war in Iraq, the tax credit is a no-brainer for anyone smart enough to see the results below.
|
THE MONTH OF: September, 2009 |
|
AREA |
SALES |
TOTAL $ |
AVG PRICE |
MEDIAN |
% OF LIST |
AVG DOM |
HOMES FOR SALE |
|
00 (Central Downtown District/Old Louisville) |
8 |
$1,280,710 |
$160,089 |
$95,325 |
83.07% |
164 |
140 |
|
01 (Dtown/Old Louisville/Shively/West Lou) |
84 |
$3,957,245 |
$47,110 |
$24,500 |
92.27% |
71 |
807 |
|
02 (Butchertwn/Highlands/Germantwn) |
82 |
$14,276,453 |
$174,103 |
$149,000 |
95.76% |
66 |
484 |
|
03 (Clifton/Crescent Hill/St Matthews) |
66 |
$13,725,370 |
$207,960 |
$182,500 |
95.04% |
73 |
478 |
|
04 (Pleasure Ridge/Valley Station/Shively) |
69 |
$6,889,482 |
$99,848 |
$100,000 |
97.36% |
73 |
435 |
|
05 (Auburndale/Fairdale/Iroquois Prk/Shively) |
71 |
$8,202,805 |
$115,532 |
$110,000 |
97.14% |
59 |
590 |
|
06 (Buechel/Highview/Okolona/FernCreek) |
129 |
$15,790,325 |
$122,406 |
$120,000 |
98.89% |
103 |
888 |
|
07 (FernCreek/Hikes Point/Jeffersontown) |
124 |
$20,055,382 |
$161,737 |
$146,200 |
96.57% |
71 |
792 |
|
08 (DglasHls/Hurstbrn/Mdltwn/Anchrg/StMatt) |
75 |
$14,552,566 |
$194,034 |
$176,000 |
96.32% |
83 |
781 |
|
09 (Anchrg/Glenview/Lyndn/Prospect) |
93 |
$20,924,975 |
$225,000 |
$180,000 |
96.08% |
102 |
800 |
|
10 (Nelson Co) |
38 |
$4,894,000 |
$128,789 |
$105,500 |
95.80% |
101 |
327 |
|
11 (Bullitt Co) |
82 |
$11,914,401 |
$145,298 |
$131,500 |
96.62% |
97 |
653 |
|
12 (Other Counties) |
27 |
$3,316,383 |
$122,829 |
$108,500 |
90.85% |
93 |
252 |
|
13 (Indiana) |
3 |
$384,900 |
$128,300 |
$156,900 |
93.11% |
120 |
71 |
|
14 (Other States) |
0 |
$0 |
$0 |
$0 |
0.00% |
0 |
1 |
|
15 (Carroll Co) |
2 |
$291,000 |
$145,500 |
$145,500 |
98.98% |
176 |
71 |
|
16 (Hardin Co) |
42 |
$5,370,250 |
$127,863 |
$129,450 |
94.61% |
88 |
303 |
|
17 (Hart/LaRue Counties) |
4 |
$391,900 |
$97,975 |
$48,500 |
87.80% |
78 |
38 |
|
18 (Washington/Marion Counties) |
3 |
$102,708 |
$34,236 |
$30,000 |
86.93% |
102 |
13 |
|
19 (Spencer Co) |
21 |
$3,692,076 |
$175,813 |
$145,000 |
96.80% |
133 |
192 |
|
20 (Oldham Co N-I71) |
37 |
$8,503,535 |
$229,825 |
$190,000 |
97.07% |
90 |
400 |
|
21 (Oldham Co S-I71) |
34 |
$7,043,786 |
$207,170 |
$205,750 |
96.52% |
79 |
323 |
|
29 (Henry Co) |
10 |
$1,199,110 |
$119,911 |
$118,000 |
91.72% |
99 |
141 |
|
30 (Shelby Co) |
46 |
$7,223,599 |
$157,035 |
$128,162 |
94.64% |
107 |
479 |
|
31 (Meade Co) |
9 |
$933,500 |
$103,722 |
$106,000 |
98.17% |
81 |
134 |
|
34 (Trimble Co) |
1 |
$131,000 |
$131,000 |
$131,000 |
93.64% |
63 |
57 |
|
Total |
1160 |
$175,047,461 |
$150,903 |
$132,000 |
96% |
86 |
9650 |
September 2009
|
This month: 1215 Last month: 1211 This month last year: 0 |
This month: 1160 Last month: 1083 This month last year: 0 |
|
This month: $150,903 Last month: $165,652 This month last year: $0 |
This month: 86 Last month: 84 This month last year: 0 |
132,000 |
September 2008
|
This month: 931 Last month: 1030 This month last year: 0 |
This month: 1012 Last month: 965 This month last year: 0 |
|
This month: $157,570 Last month: $181,165 This month last year: $0 |
This month: 85 Last month: 90 This month last year: 0 |
131,000 |
September 2007
|
This month: 1046 Last month: 1334 This month last year: 0 |
This month: 1113 Last month: 1519 This month last year: 0 |
|
This month: $173,344 Last month: $179,782 This month last year: $0 |
This month: 72 Last month: 74 This month last year: 0 |
141,500 |
Topics: For Buyers, For Sellers, Trends | No Comments »
Louisville Home Sales Stalled By Red Tape!
Author: Bob | September 1, 2009
It’s enough to make your blood boil! At a time when home sales should be brisk, new government regulations, ultra tight mortgage requirements and overworked (and angry) appraisers have slowed down home sales in Louisville Kentucky and around much of the rest of the country. On the surface the sales numbers are better than a year before but they could and should be a lot better! To understand what’s going on we need to examine two separate sets of numbers. To start with the number of homes sold in August 2009 was up 11% over the same month in 2008 (68 of those homes were new construction). But at the height of the buying season, with lower interest rates and that $8000 first time home buyer’s tax credit, homes sold in August compared to just a month before were down 15%. The reason fewer homes closed can be directly tied to those tighter mortgage requirements and the new government regulations that went into effect May 1, 2009. The guidelines call for much tighter appraisal requirements and squeaky tight FHA inspection guidelines. Add those items to the new 3rd party rule (mortgage companies’ can no longer talk to an appraiser and have to go through a 3rd party) and we have the perfect cocktail for a home closing meltdown!
The second part of this equation focuses on the number of homes going under contract in August 2009, that number wasn’t as good as the month before (down 6%) , but homes going under contract in August 2009 were actually up 15 % from the year before.
Simply put the numbers show buyers are still out there looking for homes. Many of them are 1st time buyers but as those 1st time buyer homes sell, the sellers of those homes will move up the buying chain. But putting all sellers and buyers through government hoops to get approvals will only hurt the home sale market. Additionally if the government doesn’t extend or expand the $8000 1st time tax credit, sales could grind to a halt.
The answers to the problem are simple. Put a moratorium on the new appraisal standards until all bugs can be worked out. Keep mortgage companies from requiring 1st born children as collateral for a loan. Finally extend and expand the tax credit from $8000 for 1st time home buyers to $15,000 for all buyers. Add an extra $10,000 tax credit for anyone buying a new home or contracting with a builder to build a new home. Finally allow all buyers to purchase foreclosed property and make low interest loans available to those foreclosure buyers to hire builders and contractors to repair those homes. Now we’ve got a recipe to put the country back on track and a shot in the arm to the economy! Head to www.weselllouisville.com for more info.
August 2009
|
Number of Houses Under ContractThis month: 1211 Last month: 1284 This month last year: 0
|
Number of Houses Sold & ClosedThis month: 1084 Last month: 1276 This month last year: 0
|
|
Average Selling PriceThis month: $165,787 Last month: $171,793 This month last year: $0
|
Average Days on MarketThis month: 85 Last month: 89 This month last year: 0
|
136,800 |
August 2008
|
Number of Houses Under ContractThis month: 1030 Last month: 998 This month last year: 0
|
Number of Houses Sold & ClosedThis month: 965 Last month: 1015 This month last year: 0
|
|
Average Selling PriceThis month: $181,165 Last month: $173,521 This month last year: $0
|
Average Days on MarketThis month: 90 Last month: 92 This month last year: 0
|
140,000 |
August 2007
|
Number of Houses Under ContractThis month: 1334 Last month: 1558 This month last year: 0
|
Number of Houses Sold & ClosedThis month: 1519 Last month: 1461 This month last year: 0
|
|
Average Selling PriceThis month: $179,782 Last month: $181,429 This month last year: $0
|
Average Days on MarketThis month: 74 Last month: 75 This month last year: 0
|
141,800 |
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Buying a home CAN be smooth sailing!
Author: Bob | August 17, 2009
Dan and Leigh Anne McNamara just closed on their new Louisville Home! It was as close to perfect of a closing as you could hope for. Lately we’re hearing about a number of closings delayed because of mortgage and appraiser problems. It doesn’t have to be that way. You’re Louisville real estate team needs to know the potential problems and how to navigate around them. The Medley Sokoler Team can help steer you through the red tape. Head to www.weselllouisville.com for more info.
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Steven and Deb avoid Foreclosure!
Author: Bob | August 14, 2009
Did you know that 7 out of 10 people facing a foreclosure never call a realtor or their bank to stop a foreclosure! They simply let the bank take their home and leave a 5-7 year mark on their credit that will follow them for a long time and prevent them from buyer a home for at least 5 years. There is an alternative; it’s called a short sale. It means a 2 year blip on your credit report but it’s far better than a foreclosure! Only a handful of realtors have actually been trained to handle a short sale properly. Bob and Norine Sokoler are advanced CDPE certified and along with their team navigate through the red tape known as a short sale. One of our recent clients is Steven and Deb who just sold their home in a short sale.
After watching the video feel free to call the Bob Sokoler and Medley Sokoler Team at (502) 376-5483 or head to www.weselllouisville.com or www.stoplouisvilleforeclosures.com.
Topics: For Buyers, For Sellers, Trends | No Comments »
Louisville Home Sales July 2009
Author: Bob | August 1, 2009
Louisville home sales for July 2009 jumped. Louisville saw a 21% increase in home sales from July 2008. The numbers were still 13% below the levels of July 2007 (before the housing market tanked). There’s another great sign that the Louisville housing market has recovered, homes going under contract in July 2009 compared to the year before were up 32%.
Peak performing sales prices were in the 100,000- 160,000 and 200,000-250,000 price ranges. The success of the month of July points directly at the $8000 first time home buyers tax credit and lower interest rates. At the same time 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.
What all this means is simple, the first time tax credit works just look at the amazingly successful cash for clunkers car traded-in program that was extended this past Friday. Shouldn’t our government realize by now that extending and even better, expanding the home buyer tax credit program would go a long way to moving the housing market forward!
For more info on the Medley Sokoler team head to www.weselllouisville.com.
July 2009
|
This month: 1284 Last month: 1331 This month last year: 0 |
This month: 1276 Last month: 1175 This month last year: 0 |
|
This month: $171,793 Last month: $166,038 This month last year: $0 |
This month: 89 Last month: 84 This month last year: 0 |
140,000 |
July 2008
|
Number of Houses Under Contract This month: 998 Last month: 932 This month last year: 0 |
This month: 1015 Last month: 1191 This month last year: 0 |
|
This month: $173,521 Last month: $182,971 This month last year: $0 |
This month: 92 Last month: 88 This month last year: 0 |
141,000 |
|
TOTALS REPORTS Residential Unit Sales Total Unit Sales 0-2 3 4+ Resid Condo/ Total PRICE CLASS/TYPE Bedrm Bedrm Bedrm Sales Co-Op Units
$29,999 OR UNDER 27 16 11 54 0 54 $30,000 - $39,999 7 11 4 22 0 22 $40,000 - $49,999 4 15 4 23 2 25 $50,000 - $59,999 3 20 1 24 4 28 $60,000 - $69,999 3 16 1 20 5 25 $70,000 - $79,999 11 21 3 35 5 40 $80,000 - $89,999 9 35 5 49 5 54 $90,000 - $99,999 6 36 5 47 11 58 $100,000 - $119,999 28 74 14 116 27 143 $120,000 - $139,999 19 99 38 156 26 182 $140,000 - $159,999 7 84 25 116 16 132 $160,000 - $179,999 4 61 15 80 12 92 $180,000 - $199,999 5 52 21 78 4 82 $200,000 - $249,999 2 65 59 126 10 136 $250,000 - $299,999 0 23 46 69 4 73 $300,000 - $399,999 0 15 51 66 7 73 $400,000 - $499,999 0 4 23 27 3 30 $500,000 OR OVER 0 1 25 26 1 27 Total Types: 135 648 351 1134 142 1276
Average Price: $88,784 $142,779 $265,027 $174,190 $152,654 $171,793
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Topics: For Buyers, For Sellers, Trends | No Comments »
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