These days it can take as many as 45 days to from the time you find a home to the day you close on it. Up until recently a loan officer could get it closed within 30 days. But because of appraiser and underwriting problems the amount of time to close a loan has been extended. Were thrilled to report that Dan and Leigh Anne McNamara’s closing went as smooth as we’ve seen in months. In fact we listed and sold their home in 3 or 4 days and closed on their new home in less than 45 days. In this day and age that’s a good thing! The Medley Sokoler Team can help you as well! Head to www.weselllouisville.com for more info.

Facing Foreclosure? Steve and Deb were, until they called us. In today’s Louisville Real Estate market, trying to sell a home when you’re behind on the mortgage and owe more to the bank than the home is worth is... well... next to impossible. When the Medley Sokoler team steps in, we help you get out from under the house mortgage in the form of a Short Sale. We’re advanced CDPE’s who have a proven track record and are ready to help. For more information call Bob Sokoler (502) 376-5483 or head to www.weselllouisville.com . We can help you avoid a foreclosure it’s that simple. Just listen to Steve and Deb in the video above.

A new report by U.S. News and World report picked Louisville Kentucky as one of the “10 Cities primed for a Real Estate Recovery”!  There are a number of reasons Louisville made the top 10 list, but generally the article sites Louisville’s real estate market never seeing large appreciation. That meant less room for Louisville Real Estate prices to fall. The article points to the recent Ford Motor plant layoffs and cutback in manufacturing. But on a positive note the story in the magazine also points to the recent UPS expansion and attendance at job fairs has been on the decline. The Medley Sokoler team has been swamped during the past couple of days with 5 contracts accepted in 4 days. Remember that the $8000 first time home buyers tax credit will end at the end of November 2009. If you’re a first time buyer should be looking for a home now. To see homes, or to have us set you up on an MLS search immediately contact the Medley Sokoler Team call (502) 376-5483 or head to www.weselllouisville.com or www.louisvillehomestoday.com.

With help from Short Sales and Foreclosures Louisville area home sales in the month of July jumped through the roof. Of the 1276 home sales (21 percent of which were Short Sales and Foreclosures), Louisville saw a 21% increase in the number of homes sold from July 2008. Additionally homes going under contract in July 2009 compared to the year before were up 32%.                                                                                                                               

Breaking down the numbers, most home sales were in the 100,000- 160,000 and 200,000-250,000 price ranges. It’s obvious to many that the $8000 first time home buyers tax credit and lower interest rates played a major part in the homes sales increase. The people living in those entry levels homes typically purchased their next Louisville home in the 200,000-250,000 price range.

July 2009

July 2008

TOTALS REPORTS SOLD/ACTIVE RESIDENTIAL LISTINGS 01-Jul-2009 - 31-Jul-2009 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