Home  |  Contact  |  Questions? Call Presley Realty at (502) 614-8783

The Louisville Real Estate Blog

Louisville Kentucky Real Estate Blog

MORTGAGE INTEREST RATES REVERSE COURSE IN 2017

Mortgage Interest Rates Reverse Course in 2017 | Simplifying The Market

Mortgage Interest Rates Reverse Course in 2017

To start the year, housing experts all agreed on one thing: 2017 was going to be the year we would see mortgage interest rates begin to rise. After years of historically low rates, and an improving economy, the question wasn’t if they would increase but instead how much they would increase. Some thought we could see rates hit 5-5.5% by the end of the year.

However, the exact opposite has happened. Instead of higher rates as we head into the middle of 2017, we now have the lowest rates of the year (as reported by Freddie Mac). Here is a graph of mortgage rate movement since the beginning of the year:

Mortgage Interest Rates Reverse Course in 2017 | Simplifying The Market...

5 Reasons you should sell this summer

5 Reasons You Should Sell This Summer | Simplifying The Market

5 Reasons You Should Sell This Summer

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing inventory is currently at a 4.2-month supply, well under the 6-months needed for a normal housing market. This means, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory could be coming to the market soon.

There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative...

Can Your Real Estate Agent Answer These Important Questions?

Can Your Real Estate Agent Answer These Important Questions?

Whether you are selling or buying a home, the real estate agent you hire is critical to guaranteeing your family makes the right decision. Most agents can walk you through the process and explain the industry ‘lingo,’ but you should expect so much more than that.

The housing crisis made everyone aware that truly understanding the real estate market is more complicated than it seems. Today, there are many questions your real estate agent must be able to answer to ensure your family is making the right decision. Here are just a few:

  • What impact does the movement in mortgage interest rates have on buyer demand? 
  • With home prices increasing rapidly, are we headed toward another housing bubble?
  • Do you need a 20% down payment to purchase a home?
  • Why can’t we list at a higher price and drop it later if necessary?

When you are interviewing an agent to represent your family in your next real estate transaction, make sure they can intelligently answer all your questions, while simply and effectively explaining what is happening in the current housing market.

...

Saving To Buy A Home?

...

Access: A Key Component in Getting Your House SOLD!

Access: A Key Component in Getting Your House SOLD! | Simplifying The Market

Access: A Key Component in Getting Your House SOLD!

So, you’ve decided to sell your house. You’ve hired a real estate professional to help you with the entire process, and they have asked you what level of access you want to provide to potential buyers.

There are four elements to a quality listing. At the top of the list is Access, followed by Condition, Financing, and Price. There are many levels of access that you can provide to your agent so that he or she can show your home.

Here are five levels of access that you can give to buyers, along with a brief description:

  1. Lockbox on the Door – this allows buyers the ability to see the home as soon as they are aware of the listing, or at their convenience.
  2. Providing a Key to the Home – although the buyer’s agent may need to stop by an office to pick up the key, there is little delay in being able to show the home.
  3. Open Access with a Phone Call – the seller allows showing with just a phone call’s notice....

How to Get the Most Money When Selling Your Home

How to Get the Most Money When Selling Your Home

Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible.

1. Price it a LITTLE LOW 

This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In reality, this just dramatically lessens the demand for their house (see chart below).

How to How to Get the Most Money When Selling Your Home | Simplifying The Market...

Spring Forward: The Difference an Hour Makes

 

...

Builder Confidence Hits 11-Year High

Builder Confidence Hits 11-Year High | Simplifying The Market

Builder Confidence Hits 11-Year High

According to a recent survey conducted by the National Association of Home Builders (NAHB) and Wells Fargo, housing market confidence amongst builders reached an 11-year high last month.

What Does High Confidence Mean for the Housing Market?

In a recent interview, Rob Dietz, Chief Economist and SVP for NAHB, put it this way:

“Higher market confidence will translate into more building and more inventory in 2017. We expect single-family construction to grow 10 percent next year.”

With 2016 marking the best...

The Connection Between Home Prices & Family Wealth

The Connection Between Home Prices & Family Wealth | Simplifying The Market

The Connection Between Home Prices & Family Wealth

So, what does this mean for homeowners and their equity position?

As an example, let’s assume a young couple purchased and closed on a $250,000 home in January. If we look at only the projected increase in the price of that home, how much equity will they earn over...

Thinking of Selling? Do it Today!

Thinking of Selling? Do it TODAY!! | Simplifying The Market

Thinking of Selling? Do it TODAY!!

The February numbers are not in yet, but the January numbers were sensational. Lawrence Yun, Chief Economist for the National Association of Realtors, said:

“Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home. Market challenges remain, but the housing market is off to a prosperous start as homebuyers staved off inventory levels that are far from adequate…”

And CNBC says consumer confidence in the economy is fueling the market:

“U.S. home resales surged to a 10-year high in January as buyers shrugged off higher prices and mortgage rates, a sign of growing confidence in the economy.”...

Housing Market Expected to 'Spring Forward'

Housing Market Expected to “Spring Forward” | Simplifying The Market

Housing Market Expected to “Spring Forward”

Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right.

Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country impacted by arctic temperatures and conditions.

That hasn’t happened this year.

Demand for housing has remained strong as mortgage rates have remained near historic lows.

The ...

Are You 1 of the 59 Million Planning to Buy This Year?

Are You 1 of the 59 Million Planning to Buy This Year? | Simplifying The Market

Are You 1 of the 59 Million Planning to Buy This Year?

According to a ...

How Long Do Most Families Stay in Their Home?

How Long Do Most Families Stay in Their Home? | Simplifying The Market

How Long Do Most Families Stay in Their Home?

...

Do You Know the Real Cost of Renting vs. Buying?

Do You Know the Real Cost of Renting vs. Buying? [INFOGRAPHIC]

Do You Know the Real Cost of Renting vs. Buying? [INFOGRAPHIC] | Simplifying The Market

Some Highlights:...

The Impact of Homeownership on Civic Involvement

The Impact of Homeownership on Civic Involvement | Simplifying The Market

The Impact of Homeownership on Civic Involvement

The National Association of Realtors recently released a...

The Great News About Rising Prices for Homeowners

The Great News About Rising Prices for Homeowners | Simplifying The Market

The Great News About Rising Prices for Homeowners

Recently there has been a lot of talk about home prices...

First Comes Love... Then Comes Mortgage?

First Comes Love… Then Comes Mortgage?

According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married couples once again dominated...

3 Questions to Ask If You want to Buy Your Dream Home

3 Questions to Ask If You Want to Buy Your Dream Home | Simplifying The Market

3 Questions to Ask If You Want to Buy Your Dream Home

If you are debating purchasing a home right...

Listing in the Winter Attracts more Serious Buyers

Listing in the Winter Attracts More Serious Buyers | Simplifying The Market

Listing in the Winter Attracts More Serious Buyers

A recent study of more than 7 million home sales over the past four years revealed that the season in which a home is listed may be able to shed some light on the likelihood that the home will sell for more than asking price, as well as how quickly the sale will close.

...

The Impact of Homeownership on Educational Achievement

The Impact of Homeownership on Educational Achievement | Simplifying The Market

The Impact of Homeownership on Educational Achievement

The National Association of Realtors recently released...