Fewer Bidding Wars May Open Doors to Some Buyers

Dated: August 22 2021

Views: 255

 

Sunday at 2pm on Youtube Live “What Does Being in a Seller’s Market Mean?”

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/vw8h583dD98             

 

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

·         A Look at Home Price Appreciation and what it means for Seller’s (Article Below)

·         What does being in a Seller’s Market mean? (Article Below)

·         Why Lumber Prices have already bottomed, and what that means for you? Article Here: https://www.roomvu.com/nws/S2XqZzB1J0vqYvZ   

·         A Modern Home Embedded Into Utah’s Gorgeous Mountains: https://bit.ly/3gpNd81    

·         Real Estate: It’s Still a Lack of Supply, Not a Lack of Demand. (Article Below)    

·         The New Delhi Rowhouse. Article Here: https://bit.ly/3AZjsmo    

·         More Young People Are Buying Homes (Article Below)    

·         How to Read your Homeowner’s Policy Article Here: https://bit.ly/3j95Ui6    

·         Homes Selling Quicker than Ever! Article Here: https://bit.ly/38278FF      

·         Fewer Bidding Wars May Open Doors to Some Buyers (Article Below) 

·         Tired of Rising Rents? (Video Below)

·         Choosing the Right Agent. Article Here: https://bit.ly/3zloKIk

·         HFA Loan Guide 2021 | What is an HFA Loan? Who Qualifies? Article Here: https://bit.ly/3ja81SZ

·         Mortgage Rates Barely Budge, Remain Below 3% (Article Below)


 

A Look at Home Price Appreciation and What it Means for Sellers

No matter the industry, anytime there’s more demand than supply, prices naturally rise. It happens because buyers are willing to pay more to secure the scarce product or service they’re looking for. That’s exactly what’s happening in today’s real estate market. Buyers are competing with one another to purchase a home, leading to bidding wars that drive prices up. For sellers, the rising prices mean opportunity is knocking.

According to Quicken Loans, the national average home price appreciation rate is between 3-5% in a typical year. Today, home prices are appreciating well beyond the norm thanks to high demand. Compared to the normal pace of 3-5% appreciation per year, the current average forecast of nearly 11.5% is significant.

 

Read the Full Article Here: https://bit.ly/3D8kdeQ  

 

Home prices have been going up, up, up and AWAY! Normally we would see a 3 to 5% home value rise year over year, but because of the Pandemic, because of the Housing Inventory Shortage, and then the shut-downs and lockdowns which affected building materials, the forecasts show an appreciation of 11.5% for this year!! If you are looking to sell or buy a home, you need an expert in your corner, and expert who will get you top-dollar for your home, or an expert who will counsel you in what a good price for a home purchase would be! Give David Hittle with United Real Estate Louisville a call today at 502-489-1135.


 

FORECLOSURE

Foreclosure is a very real and very scary prospect to face!

If you are in this situation, and are afraid you may lose your home connect with David Hittle with United Real Estate Louisville

He will sit down with you one-on-one and go over all the options available.

Don’t be another statistic, seek advice today! Before It Is Too Late! Call David Hittle today 502-489-1135


 

What Does Being in a Sellers’ Market Mean?

There’s a good chance you’ve heard we’re in a serious sellers’ market. But what does that really mean? And why are conditions today so good for people who want to list their house?

It starts with the number of houses available for sale. The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Today, we have a 2.6-month supply of homes at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers.

When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. That creates increased competition among purchasers which leads to more bidding wars.

 

Read the Full Article Herehttps://bit.ly/3kihHKg  

 

Being a Seller’s Market of course is great for seller’s because it means that they are in control of the process. They are, if marketed correctly, receiving top-dollar bids, multiple bids, and multiple offers, on their property. What it doesn’t mean, is that selling a home is so easy anyone can do it. David Hittle with United Real Estate Louisville has the experience in this market and knows where to price your home so that it doesn’t scare buyer’s away, but also doesn’t leave the seller’s footing the bill. David Hittle strives to provide his clients the best service possible and ensuring that his clients are getting a fair price for their home. If you want a Realtor that looks out for you call David Hittle with United Real Estate Louisville at 502-489-1135.


 

Real Estate: It’s Still a Lack of Supply, Not a Lack of Demand

Do prospective homebuyers still believe purchasing a home makes sense? Some claim rapidly rising home prices are impacting demand and, by extension, leading to the recent slowdown in sales activity.

However, demand isn’t the real issue. Instead, it’s the lack of supply (homes available for sale). An article from the Wall Street Journal shows this is true for new home construction. “Home builders have sold more homes than they can build. Now they are limiting their sales in an effort to catch up.”

Again, the buyers are there. We just need houses to sell to them. If the slowdown in sales was the result of demand waning, we would start to see home prices beginning to moderate – but this isn’t the case.

 

Read the Full Article Herehttps://bit.ly/2Whiz9T  

 

The supply and demand problem, is still an issue for our Real Estate Market. While we have seen a rise in the amount of homes on the market, it is still nowhere near the amount needed to stabilize the market. A stable market has about 6 months of inventory available (i.e. homes for sale on the market). Today we have just over 1 month of inventory places right smack-dab in the middle of a seller’s market. Seller’s Market are great for homeowner’s looking to sell their homes. With the right Realtor that markets your home properly, homeowner’s are getting top-dollar for their homes and sometimes even multiple offers. If you want to know more about selling your house call David Hittle with United Real Estate Louisville at 502-489-1135.


 

More Young People Are Buying Home

There’s a common misconception that younger generations aren’t interested in homeownership. Many people point to the fact that millennials put off purchasing their first home as a reason for this belief.

It’s partially true that some millennials have waited on homeownership to focus on other things in their lives – and that’s impacting certain housing market trends. Data from the National Association of Realtors (NAR) indicates the average age of a first-time homebuyer is higher today than it’s been over the past 40 years. But just because millennials are hitting certain milestones later in life doesn’t mean they’re not interested in becoming homeowners.

The recent U.S. Census reveals a significant increase in homeownership rates for millennials and other young homebuyers.

 

Read the Full Article Here: https://bit.ly/3y8Np1t           

 

The Millennial Generation has been said to have been the slowest to achieve homeownership, in generations, however, it has also been said that this generation has also saved a lot more than the previous generations and are more ready to purchase a home than any other generation. No matter your age, you should be a homeowner!! If you are tired of the rental rat-race, call David Hittle with United Real Estate Louisville to determine the best path towards homeownership for you. Call him at 502-489-1135.


 

2407 Bank St Louisville, KY 40212 (ACTIVE)

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


 

Think Buying a Home is Too Expensive?

Even though home prices are rising, buying can still be more affordable than renting in the long run. The median asking rent has risen substantially since the 1990s and continues to rise today. E-mail me to discuss how you can lock in your housing costs and ditch rising rents Shopkentuckyhomes@yahoo.com / 502-489-1135.


 

Fewer Bidding Wars May Open Door to Some Buyers

As the sailors would say "the tide is turning..." we are starting to see more inventory hit the market as the summer sell-a-thon starts to come to it's end.

This is good news for buyer's who dislike the bidding war environment and the constant losing of those wars.

More inventory means buyer's have more to see and therefore less bidding on a single home.

 

Read the Full Article Here: https://magazine.realtor/daily-news/2021/08/17/fewer-bidding-wars-may-open-door-to-some-buyers?fbclid=IwAR2F4yc23-mlg5-AGUlm_n26ibyp02zuXAEYwAehuVVPRsR2dzOjUWcH0zs#!#.YR71qgCasxw.facebook  

 

If you want to buy a home, now is the time to find that dream home, the home that fits your needs now, and get in to that home before the end of the year. If you are ready to get started, give David Hittle with United Real Estate Louisville a call today 502-489-1135.


 

Tired of Rising Rents? [VIDEO]

https://fb.watch/7ydZEjExHg/      

Rents have risen consistently over the last 30 years, and they're not showing signs of stopping. Let's connect today if you're ready to purchase a home and move on from renting.  David Hittle – United Real Estate Louisville 502-489-1135.


 

If you’re ready to sell, now’s the time to take advantage of current prices and unseasonably strong buyer demand as we head into the cooler months. While the easing of prices may be slight, you don’t want to miss out on today’s historic price appreciation. E-mail or Call me so you can strike while the iron’s hot. shopkentuckyhomes@yahoo.com / 502-489-1135.


Options for First-Time Homebuyers [INFOGRAPHIC]

With a housing market this competitive, sometimes you have to think outside the box. Work with your trusted real estate advisors to do things like assess your budget, expand your search radius, look into other options, and determine your true needs. E-mail me today if you're having trouble finding your first home so we can explore options together. It's out there! 502-489-1135/shopkentuckyhomes@yahoo.com


 

Check out the latest Listings from United Real Estate Louisville

This 4 Bedroom, 2 Bathroom home located in Louisville, KY features 1,668 square feet of space. This home is currently being rented $1,750 a Month.

https://homeasap.com/davidhittle/featured/ILLYy7MMAtA1

This 4 Bedroom, 2 Bathroom home is located in Radcliff, KY and features 1,725 square feet of space and was built in 1981. This home is currently listed for $159,900.

https://homeasap.com/davidhittle/featured/RSCkYeGTDus1   

This 3 Bedroom, 1 Bathroom home is located in Mt. Washington, KY and features 828 square feet of space. This home is currently listed for $109,900.

https://homeasap.com/davidhittle/featured/tBWbDPuDGbg1   

This 3 Bedroom, 3 Bathroom home is located in Louisville, KY and features 2,530 square feet of space and was built in 2010. Located in the Bannon Crossings neighborhood this home is currently listed for $298,000.

https://homeasap.com/davidhittle/featured/MlbntRtH3JE1  

This 4 Bedroom, 3 Bathroom home is located in Louisville, KY and features 3,800 square feet of space and was built in 2016. Located in the Polo Fields Neighborhood This home is currently listed for $425,000.

https://homeasap.com/davidhittle/featured/nOZyDtEQuZ81   

 

If any of those homes peak your interest, reach out to David Hittle with United Real Estate Louisville to schedule a private showing today. He can be reach at 502-489-1135 or shopkentuckyhomes@yahoo.com.


 

My Last Two Listings, Sold in Less Than 24 Hours – Yours Could Too, Are You Ready?

Have you been thinking about selling your house, but just don't know if now is the right time? Let me promise you, that there are still buyer's out there looking for a home just like yours!

If you are thinking about selling, please contact me to set-up a FREE Homeowner Consultation today!

I will sit down with you, provide you all the information I can about your home and let you decide whether you want to sell today!

If you want to work with a low-pressure, highly motivated Realtor who puts his clients first, David Hittle is ready to help you!


 

Mortgage Rates Barely Budge, Remain Below 3%

Mortgage interest rates this week remained below 3%, great news for home buyer's and those homeowners that look forward to spending a few more years in their homes and wish to refinance.

Mortgage rates this low are unbelievable, and are definitely worth taking advantage of.

 

Read the Full Article Here: https://magazine.realtor/daily-news/2021/08/20/mortgage-rates-barely-budge-remain-below-3?fbclid=IwAR0zFa783o8skryNoiUX6uXzah1vRbe2_HCSlE8UBf02xICKqdua8ZfOXjk#!#.YSBDyxoFv1Y.facebook  

 

If you are wanting to buy a home this year or refinance your current home, now is the time to act.

If you need any advice or have questions don't hesitate to reach out, I'm here to help you with your Real Estate needs!

Anything you need David Hittle with United Real Estate Louisville can help, just give him a call today at 502-489-1135.


 

Sunday at 2pm on Youtube Live “What Does Being in a Seller’s Market Mean?”

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/vw8h583dD98             

 

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:

August is already more than halfway over and we are sailing for the end of the year. Before we know it the trees will be naked and the housing market will slow down… if this were a typical year… Of course we all know that 2020 and 2021 have been anything but typical, but as our children get back to school and life starts to swing back towards normal what the rest of the year has in store for us all, is anyone’s guess.

 

I’m starting to see the swing in this housing market, we are starting to get more homes on the market, and I’m seeing less home sell for way over list price. While the homes I have listed have sold super quick recently, the increase in inventory may cause a slow down on particular properties just due to the ability to see other properties.

 

Interest rates remained low this week, under 3% is an amazing rate and if you can get that locked in today so that you can shop tomorrow for that Dream Home you are in good shape. Let’s find your Dream Home Now – The Home that Fits Your Needs today!

 

As this year starts to wind down, stay in touch with David Hittle with United Real Estate Louisville to keep you up to date on all the happenings.   

 

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!

 

11702 Autumn Forest Ct, Louisville, KY (Sale Pending)
https://davidhittle.unitedkentuckymls.com/property/94-1593528-11702%20Autumn%20Forest%20Ct--

This home sold in less than 24 hours of listing it. If your home is nice, beautiful and move-in ready, your home could be this desirable as well. This home near the Okolona area which is known for great restaurants, plenty of grocery stores and Jefferson Mall. Would you like to sell your house? Now is the time to do it!

 

4527 Lunenburg Dr, Louisville, KY (Sale Pending)
https://davidhittle.unitedkentuckymls.com/property/94-1591601-4527%20Lunenburg%20Dr-ky-40245

This home sold within 5 Minutes of putting the sign in the yard… If your home is nice, beautiful and move-in ready, your home could be this desirable as well. This home was near to Norton Hospital, Ford Motor Company, and a variety of different stores, shops and grocery stores as well as restaurants and parks. Would you like to sell your house? Now is the time to do it!

 

2407 Bank Street, Louisville, KY (Active) - 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 had 30-Year Fixed Rate Mortgages fell to 2.86%, down 0.01 percentage points from last week’s 2.87%, rates are this time last year were 2.99%. 2.65% is the lowest ever seen since recording started back in 1971 and was obtained the first week of January 2021.
15-Year Fixed Rate Mortgages rose to 2.16% up 0.01 percentage points from last week’s 2.10%. Average 15-year fixed rates last year were 2.54%.

 

This week in the Louisville and Lexington Kentucky area there were 3,593 (+17) homes & condos for sale, with the average days on market sitting at 20.80 (-0.1 Days). We are now at 1.19 (-0.02 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 July 2021 was $289,067 (Up $2,615 from June 2021), with Median Selling Price being $249,900 (Up $9,900 from June 2021). These numbers are up from last year’s $263,185 and $229,000 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 400 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.

Blog author image

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....

1 comments in this topic

  • Posted by Alberto Cruz
    09/01/2021
    Can you send me pictures of acress or ranch house close to shepherville ky out side no to far from Louisville

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