Sunday at 2pm on Youtube Live “Why This is Not Like 2008 Again”

Watch Live at 2pm at https://www.youtube.com/channel/UCE-LIrX743JkjfaZyBWCHRA

If you missed last week’s Youtube Live you can check that out here:

View the Video Here: https://www.youtube.com/watch?v=SxdMTNad7pk         

Stay Up-To-Date on all the Housing Market Happenings by visiting my Facebook Page at www.facebook.com/shopkentuckyhomes or visit www.shopkentuckyhomes.com

This Week’s Highlights:

·         Looking for Investment Properties? Click Here: https://tinyurl.com/3mcmm65h

·         Looking for Homes with Pools? Click Here: https://myre.io/0HpDFCNj5add

·         Looking for Homes Listed Under $250,000? Click Here: https://myre.io/0cDLdFkXxc7r

·         Want a Home Valuation? Click Here: https://davidhittle.unitedkentuckymls.com/sell.php    

·         Check out my Latest Buyer’s Guide! Click Here: https://bit.ly/3zh4rMG

·         Check out my Latest Seller’s Guide! Click Here: https://bit.ly/2SvEWGX

·         Why you May Want to Cash in on Your Second Home (Article Below)

·         In Today’s Market, Treat List Prices as Auction Reserve Price (Article Below)

·         Don’t Underestimate the Costs of Homeownership! Article Here: https://bit.ly/2TpEE4H

·         Home Price Appreciation is Simple Supply and Demand! (Article Below)

·         Buyer’s are Overpaying for Homes! Article Here: https://bit.ly/3pQlmkM

·         Why This is Not 2008 Again! (Article Below)

·         Big City Exodus May be Nearing an End. Article Here: https://bit.ly/3gkdt41

·         30-Year Mortgage Rates Average 2.96% This Week (Article Below)

·         Are You Ready to Move Up This Summer? (Article Below)

·         Homeowners See Nearly 20% Equity Jump in a Year! Article Here: https://bit.ly/3cDTuLk

Why You May Want To Cash in on Your Second Home

Zelman & Associates reports that sales of primary residences grew by 9% in 2020. That increase in demand was met by the lowest supply of homes for sale in history. High demand and low supply caused prices to skyrocket over the past twelve months. Here are three home price indexes released most recently that show how home values have risen:

>>FHFA Agency House Price Index shows a 13.9% increase

>>CoreLogic Home Price Insights Report shows an 11.3% increase

>>S&P Case-Shiller U.S. National Home Price Index shows a 13.2% increase

Many people didn’t want to give up a home in the city or close to their office. Instead, they purchased a larger second home farther away and moved there to stay safe and have more space. According to the same Zelman report, sales for second homes rose an astonishing 27% in 2020.

Read the Full Article Here: https://bit.ly/3vhu6lb   

Dave Ramsey my financial guru, explains that owning a second home which you are renting out outside of your primary state of residence is very taxing to psyche. There are ways to own a rental outside your state of primary residence but it may mean you have to charge more in order to pay for the added expenses. The ultimate decision, is whether or not you make enough off your second home to make it worth holding on to. If the answer to that question is no, its time to sell it and possibly finding a home closer to your primary home to rent. One you can keep a better eye on, than outside of your state. If you are ready to make some moves in the residential sphere, I’m here to help. Give David Hittle with United Real Estate Louisville a call at 502-489-1135

In Today’s Market, Listing Prices Are Like an Auction’s Reserve Price

For generations, the process of buying and selling a home never really changed. A homeowner would try to estimate the market value of their house, then tack on a little extra to give themselves some negotiating room. That figure would become the listing price. Buyers would then try to determine how much less than the full price they could offer and still get the home. As a result, the listing price was generally the ceiling of the negotiation. The actual sales price would almost always be somewhat lower than what was listed. It was unthinkable to pay more than what the seller was asking.

Today is different. The record-low supply of homes for sale coupled with very strong buyer demand is leading to a rise in bidding wars on many homes. Because of this, homes today often sell for more than the list price.

Read the Full Article Here: https://bit.ly/2TpxX2z   

In today’s market, the listing price is basically a suggested number… typically it is the least amount of money that the seller will take for their home. However, with the massive amount of buyer’s in this market buyer’s are competiting against each other and running up the prices of homes all over the country. How can a potential buyer win? Make sure that you are not over-spending on your home, but also know that you may have to bid higher than comfortable in order to win a home which you have identified as the “Dream Home!” If you want a Realtor who will walk beside you, protecting you from over-spending and keeping your emotions in check reach out to David Hittle with United Real Estate Louisville at 502-489-1135

Home Price Appreciation Is as Simple as Supply and Demand

Home price appreciation continues to accelerate. Today, prices are driven by the simple concept of supply and demand. Pricing of any item is determined by how many items are available compared to how many people want to buy that item. As a result, the strong year-over-year home price appreciation is simple to explain. The demand for housing is up while the supply of homes for sale hovers at historic lows.

The reason prices continue to accelerate is that housing inventory is still at all-time lows while demand remains high. However, this may be changing. 39 of the 50 states (plus the District of Columbia) saw increases in inventory over the last month. This may be evidence that homeowners who have been afraid to let buyers in their homes during the pandemic are now putting their houses on the market.

Read the Full Article Here: https://bit.ly/3iJwz5v        

Some people are talking about a Housing Market Crash, however the experts are saying that this is not a crash situation, it is a supply and demand situation. In today’s housing market, we have very low supply, and very high demand. We have had, for the past year or so, had a mass exodus from big cities to smaller cities like ours here in Louisville and Lexington. This high demand, compared to the low inventory is causing housing prices to spike… However, this doesn’t mean that more inventory will cause prices to crash, it means that more inventory… A LOT MORE INVENTORY… will mean that prices will stabilize. This means that home prices may not rise 9 to 12% but possible 3 to 5%, a rise in price is a rise in price. If you have any questions about Real Estate and possibly what’s happening in your neighborhood reach out to David Hittle with United Real Estate Louisville at 502-489-1135!

Why This Is Not Like 2008 Again

A lot of people are comparing this housing market to the 2008 housing market crash.

However, the experts are seeing something completely different. The Real Estate experts I've heard from have opined that this housing market is all about supply and demand!

Here are some simple differences:

2008: a lot of inventory (tons of houses for sale)

Now: very low inventory (not many housing options)

2008: Loans were given in abundance.

Now: Loans are limited, subprime mortgages eliminated.

2008: Interest rates were high!

Now: Interest rates near historic lows!

If you have any other questions or would like to give your opinion don't hesitate to reach out.

Read the Full Article Here: https://bit.ly/3vk0oMv  

The talk of a housing market crash is designed to scare Americans and to shake their confidence. It may be a particular industry or lobbying group spreading this fear in order to help fuel rises in prices for those certain industry; it is one of the dark sides of a Free Market. However, in this economy everything is fueled by Supply and Demand, today’s market is not like 2008 for a variety of reasons, don’t be afraid of one of the best investments you can make, but make sure to walk with someone who will guide you not push you that someone is David Hittle with United Real Estate Louisville and you can reach him at 502-489-1135

Have Your Day in the Sun by Moving Up This Summer [INFOGRAPHIC]

Longer days and sunny weather mean summer is upon us, and what better conditions than right now to upgrade to the home of your dreams? If your needs have changed, it’s a great time to upgrade – there’s likely high demand for your current house, and today’s low mortgage rates can help you afford your dream home. If you’re ready to upgrade to a home that matches your changing needs, E-Mail me today!

2407 Bank St Louisville, KY 40212

https://external-atl3-2.xx.fbcdn.net/safe_image.php?d=AQEn1Xir2TmmlAVs&w=500&h=261&url=https%3A%2F%2Fimage.corelistingmachine.com%2FZ9JUEG%2F1&cfs=1&ext=jpg&ccb=3-5&_nc_hash=AQGL6KNYkvDvQ9uf

I would love to show you my listing at 2407 Bank St Louisville, KY.

(YouTube Video: https://youtube.corelistingmachine.com/youtube/Z9JUEG)

Get More Information on this home here: https://tour.corelistingmachine.com/tour/titan/?id=6817171&reg=true&_seoAddress=2407-Bank-St-Louisville-KY-1584156

2301 Bickel Road Louisville, KY 40206

https://external-atl3-2.xx.fbcdn.net/safe_image.php?d=AQHNerZy7JGburK0&w=500&h=261&url=https%3A%2F%2Fimage.corelistingmachine.com%2F3F9LM8%2F1&cfs=1&ext=jpg&ccb=3-5&_nc_hash=AQHdGNgYvH2rInot     

I would love to show you my listing at 2301 Bickel Road Louisville, KY.

Get More Information on this home here: https://tour.corelistingmachine.com/tour/titan/?id=6495870&reg=true&_seoAddress=2301-Bickel-Rd-Louisville-KY-1567539

If you would like more information on this home or to schedule a showing please call David Hittle at 502-489-1135

30-year Mortgage Rates Average 2.96% This Week

Mortgage interest rates are down this week, staying under 3% once again.

These interest rates are a great opportunity to lower your monthly mortgage payment, or purchase a new home with a great interest rate saving on your monthly mortgage and over the lifetime.

If you are thinking about taking advantage of these amazing rates, let's connect and get started on your path to homeownership!

Read the Full Article Here: https://magazine.realtor/daily-news/2021/06/11/30-year-mortgage-rates-average-296-this-week?fbclid=IwAR04ZND5kNM8anZC88zs9utwkkyxIuS1IdkfgTy8LNFPvmjpObv4TV1ez_w#!#.YMPbkswyZ88.facebook

Mortgage Interest rates have not risen to what the experts say the average will be for this year; but are they on the way? Who knows??? However, if you are looking to buy a home now is still a great time to do so because of those low interest rates. If you are ready or if you are wanting to get prepared to buy your next home reach out to David Hittle with United Real Estate Louisville today 502-489-1135!

Sunday at 2pm on Youtube Live “Why This is Not Like 2008 Again”

Watch Live at 2pm at https://www.youtube.com/channel/UCE-LIrX743JkjfaZyBWCHRA

If you missed last week’s Youtube Live you can check that out here:

View the Video Here: https://www.youtube.com/watch?v=SxdMTNad7pk         

Stay Up-To-Date on all the Housing Market Happenings by visiting my Facebook Page at www.facebook.com/shopkentuckyhomes or visit www.shopkentuckyhomes.com

Message from David Hittle, Realtor United Real Estate Louisville:

The National Association of Realtors indicates that the mass exodus from the big cities to smaller cities like ours maybe starting to slow. I believe this would be a great thing for our local home buyer’s who have been struggling to find a home due to all of the buyer’s in the market. So, if you have been looking for a home and have been struggling, all of your patience maybe paying off here very soon! Patience is still key, but the struggle maybe easing.

Talk of an impending housing market crash, I believe has been stoked in causing fear and price rises! Imagine if you would, if a particular industry could use millions of dollars and lobbyists to cause the prices of things to increase based on situations occurring in our country… This may be part of the supply and demand problem we are experiencing today.

Don’t underestimate your homeownership costs… Remember that when buying a home there are pre-closing costs (Home inspection, Survey, Appraisal, Good-Faith Deposits, etc.) But then there are post-closing costs (Down Payments, Appraisal Costs, Deed Feeds, Closing Fees, etc.) If you need help with those costs and learning what these may cost you feel free to reach out to David Hittle with United Real Estate Louisville.

Interest rates remained low this week, fueling the continued home buyer buying power. This also helps you though whether you are home seller or a home buyer… If you are a home seller, refinancing or selling and downsizing or upgrading is great with a lower mortgage payment and interest rate. For home buyer’s these low interest rates mean a lower mortgage payment and less interest over your 30 year mortgage. Either way, it is an amazing time to be a homeowner!

According to the National Association of Realtors, homeowners saw a nearly 20% increase in the equity in their homes in a year in certain states. Here in Kentucky that number is $17,000 in equity, that’s profit! Profit you can take plus the rest of your equity to pay off debt or buy a new home! WOWZERS Let’s Get it!!  

If you or someone you know needs a Realtor – I would be honored to help just call me 502-489-1135

If you are interested in purchasing a home, I currently have 2 listings on the market, with what I pray will be many more to come! You can see that listings below, however if it does not fit your needs I hope you will contact me so I can get you a personalized list of homes that fit your needs!

2301 Bickel Road, Louisville, KY - https://davidhittle.unitedkentuckymls.com/property/94-1567539-2301-Bickel-Rd-Louisville-KY-40206

This home is near all the amenities you could ever ask for. From Food, to Sports, to Entertainment to the Downtown scene; this home is near it all and would make for a great rental home or starter home for someone looking to be near the fun of our city!

2407 Bank Street, Louisville, KY - https://davidhittle.unitedkentuckymls.com/property/94-1584156-2407%20Bank%20St-KY-40212

This home is perfect for an investor looking to add to their portfolio. The home is a shotgun style, with a camelback featuring 3 Bedrooms, and 1 Full Bathroom. Other homes in the area that are being remodeled are selling for great values. If you are an investor and need a new project this one is right for you.

Please share these listings with your friends and family, and if someone is interested please send them my way or have them contact me at 502-489-1135 (Call/Text).

Looking to Sell your House! I Want to Interview for the Job! I do not pressure my clients, I’m very patient and I walk them through what all I will do! I have a 29-Point Marketing Plan for Selling Your House! If You want to Sell, I will help get it sold for you! Give me a Call Today: 502-489-1135 Get a Home Valuation Here: https://davidhittle.unitedkentuckymls.com/sell.php or a Free Seller’s Guide Here: https://www.simplifyingthemarket.com/en/sellers/?a=489398-03f53f0576489362a12f29c9abd81b9a

Looking to Buy a Home! I Want to Interview for the Job! You Do Not Pay Me! I’m Paid by the Seller’s Upon Closing of the Deal! I’m very patient and I will walk with you through the entire process! If You want to Buy a Home, I will help you get the best deal possible! Give me a Call: 502-489-1135 Get my Free Buyer’s Guide Here: https://www.simplifyingthemarket.com/en/buyers/?a=489398-03f53f0576489362a12f29c9abd81b9a

Looking to Buy a Brand New Home? I would love to set up an appointment with my favorite builder for you! Why spend the money on an older home, with its issues, and its problems when you could buy a brand new, customizable home, and receive a 1 year home warranty, a 7 year structural warranty, and the peace of mind, knowing that when you sell that home, it is a 2020 built home! Give me a Call Today: 502-489-1135

This week the Mortgage Interest Rates as published by Freddie Mac fell to 2.96%, down 0.03 percentage points from last week’s 2.99%, they are closing in on last year’s 3.21%. 2.65% is the lowest ever seen since recording started back in 1971 and was obtained the first week of January 2021.

This week in the Louisville and Lexington Kentucky area there were 3,271 (-2) homes & condos for sale, with the average days on market sitting at 26.10 (+/-0 Days). We are now at 0.99 (-0.05 Months) months of inventory, making this a “Seller’s Market” which is under the six months needed to have a “Balanced Market”. Builder’s are accelerating their building of brand new homes, but with lumber prices on the rise, it is making it harder for smaller builder’s to be able to afford. Bigger builder’s will have to come to the rescue, if we are ever to catch up with home buyer demand.

The Average Sale Price for April 2021 was $257,630 (Up $3,464 from March 2021), with Median Selling Price being $223,500 (Up $8,500 from March 2021). These numbers are up from last year’s $235,494 and $200,000 respectively. Year over year both average sale price and median selling price were up vs. last year.

If you are in need of a Real Estate Professional someone with the heart of a teacher, rather than a heart of a salesperson I’m the Realtor for you!

If you ever have any questions at all, please feel free to contact me, I’d love to hear from you and hear about your plans for the future!

You can email me at shopkentuckyhomes@yahoo.com

You can text me or call me at 502-489-1135

If you would please visit and LIKE my Facebook Page at https://www.facebook.com/shopkentuckyhomes/ We Have OVER 370 LIKES, 400+ FOLLOWERS!

I would also encourage you to visit my newly customized website at www.shopkentuckyhomes.com

Please also visit our more specific websites purchased and maintained to make it easier for you to find what you are looking for!
For Selling a Home: www.sellkentuckyhomes.com
For Buying a Home: www.buykentuckyhomes.com
For Buying Louisville Homes: www.shoplouisvillehomes.com    

Thank you once again, for allowing me to assist you on your homeownership journeys.