The MLSKY.net Blog

Low Inventory in Louisville Housing

Now is the BEST time to sell!

By Mike Hall, Broker/Agent/Owner

Kitchen

Louisville’s housing shortage continues

Demand for houses in Louisville continues to increase without a corresponding increase in available houses. Some estimates show that while there should be around 5,000 houses for sale in Louisville, there are only about 500.

Often, buyers with high credit scores and solid down-payments are still needing to make cash offers well above listed prices and waive all inspections.

Some potential buyers are choosing to wait, save more money, and hope that the market evens out in the future. These buyers might not have the financial means to pay the difference between their offering and the house’s appraisal, or they might not want to risk potential costly issues that would have been found with an inspection. Others are engaging as competitively as they can, with perseverance as their motto.

For sellers, it’s highly likely that a good home with a solid price could sell very quickly at a much higher price than they could have gotten for it even a few years ago. Some houses have increased by $70,000-100,000 just in the last year.

Whether you’re navigating this seemingly cutthroat...

From Community Gardens to Mixed-Income Housing

Plans for New Housing in Iroquois Area

By Mike Hall, Broker/Agent/Owner

wheelbarrows

New housing coming in South Louisville Neighborhood

About 10 years ago, a housing block called Iroquois Homes went through several phases of demolition, leaving behind only an empty lot.

In recent years, local nonprofits have leased the space to create urban farm and garden spaces for the community. The adopted purpose of the space has been a value to the area, but the intent was always to eventually use the space for housing again, according to the Louisville Metro Housing Authority.

Housing shortages have been an issue across Louisville, and the South Louisville neighborhood — with its charm, character, and diversity — is no exception. There is a considerable need in the community for mixed-income housing.

No firm plans are in place for the area, though Louisville is seeking different ideas for housing and amenities from locals and engaged community members. There is a hope that the neighborhood will feel engaged and excited about the development, and that the future housing will benefit the whole area.

If you’re looking to buy or sell a home in South Louisville — or if you’re...

Tree Coverage in Louisville Grows!

The Best Kind of Shady City

By Mike Hall, Broker/Agent/Owner

Home with trees around it

Louisville increases its tree canopy by 1%

In 2012, a report noted a decline in Louisville’s tree canopy and predicted a serious continued loss of limbs – tree limbs, that is.

Experts from the organization TreesLouisville got to work, planting, educating, and empowering the city. The most recent report indicated that Louisville not only reversed the predicted sharp decline, but also managed to increase the tree canopy in Louisville by 1%.

Why is a healthy tree canopy important?

The report measures how much of the city is covered by shade. A healthy tree canopy reflects a healthier, more sustainable city. Adequate trees assist with cleaner air, help manage storm water, aid with urban heat, provide habitats for animals, and lift the spirits of a city’s citizens.

Though most areas of Louisville saw growth in their tree coverage, a few areas, like downtown and West Louisville, still struggled. TreesLouisville knows where to focus their next efforts.

Louisville tree coverage is just another reason why it’s great to live here. Talk to an agent today about finding your perfect next house; maybe you’ll find one with...

350 Jobs Coming to Louisville

Confluent Health Will Provide Well-Paying Jobs

By Mike Hall, Broker/Agent/Owner

healthcare workers

New jobs are great for Louisville!

Kentucky Governor Andy Beshear announced in January that Confluent Health LLC will be locating and expanding their headquarters in Louisville later this year. Confluent Health currently employs more than 100 people in Louisville, but the expansion of their services will create 350 new jobs in the city.

New positions will include marketing, IT, human resources, administrative, and executive roles.

Though Confluent Health originates in Kentucky, its services currently span 29 states. It works in areas of physical therapy, medical academics, medical technology, and more.

Confluent Health is expecting to begin the expansion in the coming weeks, with an estimated completion this summer.

New well-paying jobs will support current and future homeowners as they engage in Louisville’s competitive housing market. If you are looking to buy or sell your house, talk to an agent today about how we can help you through this process!

[Source: Louisvilleky.gov]

...

What to Expect in 2022

What are the housing predictions for this year?

By Mike Hall, Broker/Agent/Owner

Happy couple hugging in home

What can home buyers and sellers expect in 2022?

In 2021, the housing market across the nation saw low inventory, high demand, low interest rates, and dramatic price increases. It was a great year for sellers and a problematic year for home buyers, especially those who were hoping to buy their first house. What will 2022 hold?

Experts predict a similar situation this year, with some gentle adjustments.

One predicted change is that the record-low mortgage rates will go back up slightly, meaning there will be fewer homebuyers taking advantage of incredible rates. That should mean a slight decrease in demand for homes, giving those on the search fewer offers to compete against.

Despite a slight shift in demand, the available inventory will probably remain tight. One forecast predicts that inventory will only increase by 0.03% in 2022.

While 2021 brought dramatic price increases for houses across the nation, houses in 2022 will rise at a more moderate pace. There is an expectation that the market and economy in general will stabilize as local, state, and federal policies tackle widespread...

Selling Your House at Christmastime

Make the Most of Louisville’s Holiday Market

By Mike Hall, Broker/Agent/Owner

Christmas Wreath

You can have a very merry house-selling Christmas!

The holidays might seem like a strange time to put your house on the market, but by following a few key tips, you can sell your home and make someone else’s Christmas dreams come true! There are some definite advantages to selling during the holiday season, including that winter buyers are serious and there are even fewer houses on the market than usual! Talk to an agent today about this possibility!

Follow these tips to make your holly jolly home a standout this season!

  1. Deck the halls – at least a little! Houses decorated for the holidays can look their very best, but be careful not to go crazy with the décor. Don’t do anything to distract buyers from your home. Less is always more!
  2. Choose a reliable Realtor – like a Red Edge agent. Make sure you know what their holiday schedule will be, so if things are moving forward during the holidays, you won’t be stuck waiting. Sit down together and make a plan about when you’re available and when you’re celebrating with friends or family.
  3. Carol of the...

Small Business Saturday in Louisville

Plan Your Small-Business Seasonal Shopping

By Mike Hall, Broker/Agent/Owner

Shop Local Sign

There are many fun and interesting shops in Louisville.

There is a shop for everyone in Louisville! As more people are making 2021 holiday shopping plans that bypass shipping delays and supply shortages. Shopping local, small businesses is a great way to explore Louisville, invest in your community, and find perfect, one-of-a-kind gifts for everyone on your list this year!

Small Business Saturday is a perfect day to enjoy the beauty of Louisville in the fall, walk off those Thanksgiving calories, and find the local shops that will take your gift-giving game up a level.

This year, Small Business Saturday is November 27. You can even make a day out of the fun, hitting your favorite local restaurants, coffee shops, and treat stops as you visit best-loved stores then explore new stores, markets, and experiences.

Of course, this is the perfect way to learn more about what neighborhoods, communities, and areas might be calling if you’re thinking about finding a new home in or around Louisville. But you don’t have to wait for that–talk to an agent today about how we...

Ford Creating 5,000 Jobs with New Plants

Hardin County Will See a Major Influx of Positions

By Mike Hall, Broker/Agent/Owner

Ford

Ford is opening two plants in Hardin County.

Ford is extending its long-standing relationship with Kentucky from its huge operation in Louisville and into nearby Hardin County with the addition of two new plants focused on the production of batteries for Ford’s electric vehicles.

The two facilities are expected to create more than 5,000 jobs in the area, bringing in new workers and providing solid employment for those who need it in the community.

As Ford moves forward into the production and distribution of more eco-conscious vehicles, these plants will be essential. Kentucky was an ideal location for the new plants, and it’s expected that the investment into Ford will result in more jobs, more businesses, more economic growth and stability, and more men, women, and families on solid ground for buying homes and investing in the area.

The first plant should be in production by 2025 with the second plant following in 2026. Just another reason Kentuckiana is a great place to live and work.

[Source: Louisville Courier Journal]

...

Fall-Fresh Curb Appeal for Louisville

Help Your Louisville-Area House Stand Out!

By Mike Hall, Broker/Agent/Owner

Autumn front porch

Help your curb appeal with some fall updates

Now is a great time to put your house on the market. And … a little fall fresh-up will go a long way toward giving you an extra edge in this intense Louisville market! If you’re ready to sell or shop, talk with an agent today about your options and advantages.

  1. Rake those leaves! Some natural fall foliage can help your house feel cozy and inviting, but it’s better to keep the yard clear of unsightly brown leaves and spots in the grass.
  2. Fall flowers for color. Replace the seasonal summer blooms with some hardy, fall-colored flowers that will keep your property looking open-house ready!
  3. Fancy front door! Whether it’s an attractive autumn-inspired wreath or a fresh new color for your front door, creating a welcoming entrance can make a big difference.
  4. Exposed exterior. With fewer leaves and plants shielding the exterior of your house, dirt and a year of residue will be more obvious. Use these first few warmer days of fall to power-wash and clean the outside of your house....

Louisville Housing Market Remains Fast and Furious

Houses will likely continue to sell quickly in Louisville

By Mike Hall, Broker/Agent/Owner

House for sale

It’s still an ideal time to sell your house!

With the Greater Louisville Association of Realtors reporting that sales are up 13% from this time last year, it doesn’t look like the current housing market is slowing down anytime soon.

The situation is largely due to the lack of inventory. Fewer houses are for sale, so each available house is getting more attention. The inventory of houses for sale is down 38% from this time last year. Typically, houses are still on the market fewer days and going for higher prices than before, but there might be a slight decrease in how many offers each house is getting.

The decrease could be due to a slight increase in houses available, plus some overconfident sellers are asking more than what new buyers might be willing to pay. As buyers decide they can wait, fewer bids are coming in for each house, though the demand still far outpaces the supply.

Finding a trusted Realtor can help you price your house just right and navigate the viewings, offers, and short turnaround times. Talk to an agent today about selling your house in this ideal time!

[Source: WDRB.com]

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