Top 10 Issues Affecting Real Estate in 2021

Dated: June 27 2021

Views: 23

 

Sunday at 2pm on Youtube Live “5 Things Homebuyer’s Need to Know when Making an Offer”

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://youtu.be/FSoYqLQDq4s         

 

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

·         Millenial Homebuyer’s to Fuel Housing Market! Read Here: https://www.roomvu.com/nws/pzrgxffQ8Uve8cb

·         5 Things Homebuyers Need to Know When Making an Offer (Article Below)

·         Americans Moving to Less Pricey Housing Market. Read Here: https://www.roomvu.com/nws/MfjMd6V92EvkTH7

·         Preapproval Makes All the Difference When Buying a Home! (Article Below)

·         Homeowner Wealth Increases Through Growing Equity this Year! (Article Below)  

·         Demand for Vacation Homes Still Strong (Article Below)

·         Homebuyers: Hang in There. (Graphic Below)

·         Top 10 Issues Affecting Real Estate in 2021 (Article Below)

·         Post Pandemic Housing Market: Should You Buy a Home? Read Here: https://www.roomvu.com/nws/0tWXROuk38heSy4

·         Mortgage Rates Rise Above 3% (Article Below)


2021 Housing Market Review-Louisville, KY

 


5 Things Homebuyers Need To Know When Making an Offer

Here are five things to keep in mind when you’re ready to make an offer.

>>Know Your Numbers

Having a complete understanding of your budget and how much house you can afford is essential.

>>Brace for a Fast Pace

Today’s market is dynamic and fast-paced. From start to finish, a house for sale in today’s climate is active for roughly 2.5 weeks.

>>Lean on a Real Estate Professional

While homebuying may seem like a whirlwind process to you, local real estate agents do this every day, and we know what works. It may seem simple, but catering to what a seller may need can help your offer stand out.

>>Make a Strong, but Fair Offer

Let’s face it – we all love a good deal. In the past, offering at or near the asking price was enough to make your offer appealing to sellers. In today’s market, that’s often not the...

 

Read the Full Article Here: https://bit.ly/3xXB7JQ

 

Buying a home in today’s hot seller’s market is not easy, but it is doable! This week I was able to get a home under contract for less than list price, something that would have been completely unheard of just a couple of months ago. To me, it seems the market is starting to slow down a bit which will be good news for homebuyers. They may see more opportunities and have a little bit longer period of time to think before making their moves. While this market is still red hot, having an expert on your side goes a long way. If you are looking to buy or sell a home, I’d be happy to help give me a call at 502-489-1135 and ask any questions you may have, and then let’s get started toward your dreams!


 

Pre-Approval Makes All the Difference When Buying a Home

You may have been told that it’s important to get pre-approved at the beginning of the homebuying process, but what does that really mean, and why is it so important? Especially in today’s market, with rising home prices and high buyer competition, it’s crucial to have a clear understanding of your budget so you stand out to sellers as a serious homebuyer.

Being intentional and competitive are musts when buying a home right now. Pre-approval from a lender is the only way to know your true price range and how much money you can borrow for your loan. Just as important, being able to present a pre-approval letter shows sellers you’re a qualified buyer, something that can really help you land your dream home in an ultra-competitive market.

 

Read the Full Article Here: https://bit.ly/3A5vsmT     

 

Being preapproved prior to dipping your toes in this market is a must, it not only helps you understand what your budget is for your home purchase, but it also helps your Realtor craft a plan to help find you your next home. Preapproval is also important because some home seller’s only want to look at offers from qualified buyer’s, and the biggest qualification you can have is to be working with a lender who is ready to loan you money on your next home. If you are not preapproved and are looking to buy a home in the near future, give me a call at 502-489-1135. I work with a number of lenders and can get you in contact with the best ones for your needs.


 

Homeowner Wealth Increases Through Growing Equity This Year

Home equity – the difference between the value of your home and what you currently owe – isn’t just built through your monthly principal payments. Home price appreciation plays a vital role in growing equity and, ultimately, your wealth.

CoreLogic recently published their latest Homeowner Equity Insights Report, and it shows continued growth in equity amidst record home price appreciation. The report provides several key takeaways, all of which point to rising wealth for homeowners:

>>The average equity gain of mortgaged homes during the past year was $33,400

>>The current average equity of mortgaged homes is greater than $216,000

>>There was a 19.6% increase in total homeowner equity over the past year

>>Total U.S. homeowner equity has reached nearly $1.9 trillion

 

Read the Full Article Here: https://bit.ly/3A2Pe26          

 

Equity is the number 1 reason to own a home… Equity is Profit – it is the difference between what you owe on your home and how much your home is worth. While most people still owe money on their homes, the value of their homes have skyrocketed meaning they are net-worth positive! When becoming an Everyday Millionaire as my financial guru Dave Ramsey talks about, your home is counted, as it is part of your net-worth so taking what you owe on your home minus what the value of your home is, will give you the net-worth of your nest egg (your home). If you are ready to draw out some of that profit, or sell and take it all I’m here to help give me a call at 502-489-1135 and let’s get you started toward your dreams today!


 

Demand for Vacation Homes Is Still Strong

The pandemic created a tremendous interest in vacation homes across the country. The 2021 Vacation Home Counties Report from the National Association of Realtors (NAR) shows that last year’s increase in vacation home sales continues in 2021. The report examines sales in counties where “vacant seasonal, occasional, or recreational use housing account for at least 20% of the housing stock” and compares that data to the overall residential market.

Their findings show:

>>Vacation home sales rose by 16.4% to 310,600 in 2020, outpacing the 5.6% growth in total existing home sales.

>>Vacation home sales are up 57.2% year-over-year during January-April 2021 compared to the 20% year-over-year change in total existing home sales.

>>Home prices rose more in vacation home counties – the median existing price rose by 14.2%

 

Read the Full Article Here: https://bit.ly/3y1h255    

It helps that most of the vacation homes we think about are in states that have re-opened their economies. Thinking states like Florida, which have been open for a very long time have continued to see an influx of homebuyers from many areas of the country. Tennessee is another vacation state that has stayed somewhat open during the pandemic and is seeing a busy market as well. Whether you have a vacation home, or would like one in the future, I can help – I have a huge inventory of Realtors in states all over the country and all over the world who I can draw on to help my clients. So, whether you are buying in Kentucky or Australia, I can help, give me a call today 502-489-1135 and let’s make your dreams a reality!


 

Top 10 Issues Affecting Real Estate in 2021

https://magazine.realtor/sites/default/files/styles/asset_image_full_content/public/assets/images/2106_DNG_remotework.jpg?itok=9ul5VbQc

Here are the top 10 issues affecting Real Estate in 2021 and the number 1 issue is remote work.

With many companies shifting their workforce to remote work from home roles, it has caused different issues to arise for homeowners, and potential homebuyer's.

With remote work comes a need for an in home office, or in home office space to cater to the remote work needs. Another issue that is arising is the fact that with at home work only, homeowners do not need to be located in their work's state, states like New York and California have seen a mass exodus in part because of remote work and the pandemic.

 

Read the Full Article Here: https://magazine.realtor/daily-news/2021/06/24/top-10-issues-affecting-real-estate-in-2021?fbclid=IwAR3lPInBWbvalfzSRS3kCPWh5XmPeosXhuh4iaU9clO7Pj603wv7R6CoBIM#!#.YNX8czJOumo.facebook

 

No matter what your reason for wanting to buy or sell a home, I'm here to help you through the journey. I'll be your tour guide, your surpa while we climb the mountain together! David Hittle – United Real Estate Louisville – 502-489-1135


 

Tips for Today’s Sellers [VIDEO]

https://fb.watch/6ob2FXg6MX/

Even in today's ultimate sellers' market, it's key to have an expert guide when you sell your house. Let's connect to optimize your home sale this summer.


Homebuyers: Hang in There [INFOGRAPHIC]

Today’s sellers’ market provides unique challenges—and benefits—for buyers. Current low interest rates won’t last forever, and home prices are forecast to rise. If you’re a homebuyer, hang in there and call David Hittle with United Real Estate Louisville 502-489-1135, Because, Homeownership improves your quality of life, and the long-term benefits outweigh the short-term challenges.


2407 Bank St Louisville, KY 40212

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 (Active Under Contract – Accepted Contract)

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


Mortgage Rates Rise Above 3%

Mortgage interest rates rose this week for the first time in a long time rising above 3%.

This weeks mortgage interest rates hit 3.02% with experts predicting rates to continue to rise for the rest of the year.

 

Read the Full Article Here: https://magazine.realtor/daily-news/2021/06/25/mortgage-rates-rise-above-3?fbclid=IwAR0qexKfE_6S7KjLP9LBOOmSxscsUdwN7n0dkLf_5skkj_hQVoAAxNY9V9w#!#.YNZIKLFjySo.facebook  

 

The experts predicted interest rates would rise, they are estimates averages of 3.30% for 2021. Is this week just a bump, or is it the start of an ever increasing rise, we will have to wait and see but my suggest would be to get going on finding that new home now and get under contract before it costs you thousands more over the long-haul! Ready to Go? Let’s Go! Call David Hittle with United Real Estate Louisville – 502-489-1135


 

Sunday at 2pm on Youtube Live “5 Things Homebuyer’s Need to Know when Making an Offer”

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://youtu.be/FSoYqLQDq4s         

 

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:

This has been one of the busiest weeks for my Real Estate career… I had 8 Buyer Showing Appointments, 2 Contracts Written and 1 Accepted Offer, for me that is a busy week!

 

One thing I took away from this week is that it is still possible for a homebuyer to buy a home. I have many homebuyer’s right now who have made multiple offers to only be defeated, however this week I wrote an offer that was actually accepted, and accepted for below list price!!! So it is possible to buy a home in today’s market, you just have to be patient and go with the gut!

 

Getting preapproved is an important step in today’s market, it not only gives you a picture of your budget, but it also shows a home-seller that you are qualified to be making the offer you are making!

 

If selling your house has been on your mind, you should not wait… While prices are increasing monthly, mortgage interest rates ticked up above 3% this week. While prices will likely continue to increase due to the lack of inventory, inflation, lumber costs, etc. Mortgage interest rates are predicted to average 3.30% this year. We have seen the interest rates low, is now the time they start to turn higher! They are however, significantly lower than they have been in past decades, but with the higher prices, meaning higher down payments, savings is still savings, and low interest rates save homebuyer’s money over the long-haul.

 

By now you know that owning a home is huge, and it is the best way to increase net-worth. When you rent you of course are increasing the net-worth of your landlord. While renting is essential when you are saving for your down payments, don’t stay stuck in a rental forever, by doing so you are giving up your net-worth as a sacrifice!

 

There has been a lot of talk about the housing market crashing like 2008, and I spoke about it last week on my Facebook and Youtube Lives. The experts are not predicting a housing market crash. Most chalk this market up to Supply and Demand! I agree, unlike 2008 we have low inventory not high. Unlike 2008, the government has regulate the mortgage industry, making it harder to get loans. Unlike 2008, homeowners have sizeable equity in their homes, while in 2008 they had little to no equity in their homes. Today, is much different than 2008 so if that fear is holding you back – “just let it go…”   

 

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 (Active Under Contract – Accepted Contract) - 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 rose to 3.02%, up 0.09 percentage points from last week’s 2.93%, they are closing in on last year’s 3.13%. 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 3,304 (+28) homes & condos for sale, with the average days on market sitting at 26.70 (+0.2 Days). We are now at 0.96 (-0.01 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 May 2021 was $272,979 (Up $15,349 from April 2021), with Median Selling Price being $230,100 (Up $6,600 from April 2021). These numbers are up from last year’s $244,112 and $210,000 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.

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David Hittle

Hello, and welcome to my website - my name is David Hittle and I'm a VA Certified Realtor and NAR e-PRO with United Real Estate Louisville. The ultimate goal for a Realtor is to provide the client wit....

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