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How is the Louisville Market Looking for 2021?

Louisville Housing Market Trends

By Mike Hall, Broker/Agent/Owner

Louisville bridge in background

A quick overview of the housing market in Louisville.

Is it still a good time to sell your home in Louisville? With interest rates still low and available housing down more than 40%, 2021 looks like it will have a great market for sellers. Despite the economic hardships of 2020, many buyers are eager to get settled and sales are up.  

Starter and mid-level homes priced well on the market are going very quickly, often with multiple bids. Even through the cold months, the demand is steady. Many are predicting that sales in 2021 will continue to rise by 3-5%, with prices also rising 7-9%.

If you’re looking to sell your home, now might be the ideal time. Talk to an agent today about how we can help you get the best buyer and experience. If you’re wanting to buy and you’re overwhelmed by the competitive market, we’d love to help you find your perfect home.

[Source: LaneReport.com]

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Louisville Neighborhoods that Glow!

Where can you go to see some colorful Christmas lights from your car?

By Mike Hall, Broker/Agent/Owner

Lights glowing

You have to see Louisville all lit up!

One of the best ways to explore Louisville neighborhoods is to drive through and see how communities decorate for the holidays. The lights and sights around Christmas are a true delight and provide insight into each area’s spirit and generosity. Here is a list of areas in and around Louisville that you might want to visit, many from the safety of your car.

Of course, if you’re ready to do more than look at the lights on beautiful houses, talk to an agent today to learn more about owning your own home in your favorite area!

Enjoy these beautiful holiday illuminations, in both neighborhoods and attractions!

  • Louisville Mega Cavern’s Lights Under Louisville
  • Christmas Express
  • Holiday Laser Dome
  • Hillcrest Avenue neighborhood
  • Light Up Saint Matthews
  • Lake Forest neighborhood
  • Christmas in Charlestown

 

[Source: do502.com]

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Five Things to Keep in Mind When Flipping Houses

Can you make a quick profit, or are you headed for a fast flop?  

By Mike Hall

house demo

It’s important to know which potential “flippers” are worth your time and effort

You’ve seen the TV shows: Intrepid couples buy a run-down house and give it a stunning makeover for a tidy profit. Fantasy or fact?  Well, in 2019, 6.2 percent of all house sales in the U.S. were flipped homes: properties that needed some TLC to give them a new life and a higher sale price. It takes a lot of work and time to flip a house. Is it worth the effort?

There are a few key things to keep in mind if you’d like to make money by renovating properties: budget, time, skills, knowledge and patience. 

Budget and time. If you’re not a flipping pro, you may underestimate the time it takes or money you’ll need to spend to produce a sale-able property. Finding the right property is key. You’ll want to pay no more than 70 percent of the after-repair value for your fixer upper minus your repairs.  And as time ticks away, so does your profit. Each day the house doesn’t sell costs you money in mortgage, utilities, property taxes,...

When to Walk Away from a House

Not Every Home is THE Home

By Mike Hall, Broker/Agent/Owner

Man in distress

Sometimes you have to walk away and keep looking!

In today’s housing market, it’s hard to let go of a home if you think you’ve found the right one, but there are often solid reasons to step back from closing. Any of our Red Edge agents can help you navigate these common issues and anything else that might come up as your search for your dream home.

  • Issues discovered during inspection – From faulty foundations to expensive cover-ups, the inspection can reveal a lot about the issues you’ll face if you buy that house.
  • Low appraisals – If an appraisal comes in too low, your bank will probably balk.
  • Paperwork problems – The house-buying process has a lot of paperwork, and even small issues could cause big delays or cancelations in the end.
  • Change in financial circumstances – A change in jobs, loss of income, unexpected expenses, divorce, and other issues can change your budget and housing plan.
  • Contingent plans fall through – One of the most common issues is when a close is contingent on the selling of another house and it simply doesn’t happen...

Buying a House Virtually

How to shop for your next Louisville house without going inside.

By Mike Hall, Broker/Agent/Owner

Person with masking on computer

The COVID-19 Pandemic has changed the game!

When COVID-19 shut down the usual methods for buying and selling houses, everyone had to get more creative. Houses were still for sale in the Louisville area and buyers were still looking for their next dream home, so the process continued in a whole new way. Though some regulations have eased, and many things have become easier, a virtual buying experience is still a common request.

If you’re looking to buy your next home, but desire a contact-free experience, we’d love to connect you with a Red Edge agent who knows exactly how to help you find your future house.

Here are some things to help make your virtual experience better:

  • Know what’s being said — and what’s not — on the listing. Photos can show just what the seller wants you to see, so watch for what’s not being shown. Ask yourself some important questions: Are there more images of the exterior than the interior? Are closed curtains hiding an unpleasant view? Are the images skewed to make a room look bigger?
  • Make...

Micro Mortgage Loans Could Lead to Greater Home Buyer Possibilities

Lower and middle-income families have more options!

By Mike Hall, Broker/Agent/Owner

money jar for home

New program could help first-time home buyers!

Many lower- and middle-income families would like the privilege of buying their own home. They could build equity, enhance their security, and mortgage payments are often lower than renting a similar property. One barrier has been the absence of mortgage loans available for houses less than $100,000. A new program is aiming to address that inequality.

The MircoMortgage Marketplace will write mortgages for less than $100,000, and will also help simplify the process for families who qualify. This program hopes to give potential home-buyers a fair chance against cash-buyers, which should help serve the families who want to help build their credit and equity. It’s good for the neighborhoods and for the home buyers.

If you’re ready to look into that leap of buying your very first home, call an agent today!

[Source: Louisville Business First]

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Socially Distanced Summer in Louisville

There’s still plenty for your family to do in Louisville this summer!

By Mike Hall, Broker/Agent/Owner

summer outdoors trail

There are many ways for your family to enjoy a socially distanced summer.

There’s no doubt that the summer of 2020 will be different than any other. Though there are certainly some limits, a little creativity and research can still lead you toward a fabulous, socially distanced summer in Louisville. It’s just another reason that it’s great to live in this city!

There’s something for everyone this summer. There are modified ways to visit your favorite indoor experiences, like museums, galleries, bowling, and dessert shops. If you’re feeling like trying some new sports, there are many ways to explore various outlets like tennis, archery, frisbee, and cricket.  

The Louisville area is full of walking trails, bike paths, and scenic overlooks. There are also farmer’s markets, local art exhibits, walking tours, plays and performances, and amusement parks. And that’s just the beginning for family fun this summer!

For more to do this summer in Louisville, check out ...

As restrictions ease, how should buyers proceed?

Ready to Buy!

By Mike Hall, Broker/Agent/Owner

home on a table

Prepare yourself for buying a house in this season.

As social distancing restrictions begin to lighten, many people are turning their thoughts again toward buying a house. If you’re considering taking this exciting step, it will help you to know what obstacles you might need to navigate. Here are some potential issues you might consider as you make plans:

  • Supply is still limited. Many home sellers are waiting until a greater time of certainty to list their houses on the market, so the market is tight and competitive.
  • Banks and other mortgage companies might have greater requirements for lending, including higher credit scores, proven job security, and minimum down payment percentages.
  • Ongoing flexibility will be necessary for viewing homes, meeting with involved parties, and proceeding within ever-changing safety protocols.

If you’re ready to begin the journey, we’d love to connect you with an agent today who will help you walk through the challenges and opportunities of this unique season.

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Buying a House During Covid-19

Buying a House During Covid-19

We can help you!

By Mike Hall, Broker/Agent/Owner

couple happy in new home

All hope is not lost if you want to buy a home now.

Though there is a global pandemic keeping many people at home and at a safe distance from one another, many buyers still want or need to find their new home. Though inventory is much lower than is ideal and social distancing and stay-at-home orders make the process anything but straightforward, there are still ways our agents can help you find the perfect home for the next season in your life.

With modern technology and proper safety precautions, virtual and physical showings are possible, and closings can still be completed with revised guidelines. Contact an agent today to see how we can walk with you through this process to help you find your next home.

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A First-time Buyer’s Guide to the Open House

Navigate an Open House Like a Pro

By Mike Hall, Broker/Agent/Owner

Open house in Louisville
Visit your first open house armed with seasoned home-buyer savvy.

In Louisville's competitive market, any home buyer wants to make the most of an opportunity to explore a potential home, and first-time buyers can be at a distinct disadvantage if they don’t know what to ask or look for.

In some situations, you might only get one glimpse at the home before you need to make an offer, and an open house can be an especially competitive situation. Louisville buyers should come prepared, with thorough research and questions they’re ready to ask. Here are some tips to help the first-time buyer shop like a seasoned pro. Of course, Red Edge agents would love to help you navigate this complicated process. Call today to get started.

  • Make a good impression: Dress intentionally, be courteous, and don’t be afraid to ask questions.
  • Look for the important things: As you’re touring through the house, check for key issues like water damage, uneven floors, cracks in the walls, and missing shingles on the roof.
  • Watch for competitors: Do the other visitors in the home...
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