Buy a home in Louisville, NOW!

As I mentioned on my website, now is a great time to buy a house in Louisville. However, judging from the sales numbers in January, many of you are missing out. Inventory levels are high, interest rates are still low, and sellers are willing to work with you. For home buyers, especially first-time home buyers, in Louisville, this is a dream scenario.

High inventory levels exist in every part of the Louisville area. Whether you are looking in Shepherdsville, Taylorsville, Crestwood, or anywhere in between, you can find a home with the features that you want and don’t have to make compromises. With today’s gas prices, you can save $300-$500 / year just by living 5 miles closer to work.

Interest rates have increased slightly over the last 2 weeks, but are still low. Considering that the median home in Louisville costs $162,000, the difference between a 30-year 6.00% loan and a 6.50% loan is $632 per year. Keep in mind that mortgage interest rates are not tied to the prime lending rate or Federal Funds rate. In fact, as we are seeing right now, mortgage rates tend to move opposite of these indicators. So, don’t think that because the Federal Reserve might lower rates again, that mortgage rates will go down further.

Price is not the only factor to negotiate when buying a home in Louisville. Most homes for sale in Jefferson, Bullitt, and Oldham counties are priced fairly and the average selling price is about 97% of the listing price. However, buyers are still able to save thousands because sellers are willing to help with closing costs, willing to make repairs or pay for upgrades, and / or willing to purchase a Home Warranty. These concessions are potentially worth thousands of dollars to you.

Now is the time to buy. As mentioned above, you can save over $1,000 just because of the number and location of homes for sale and current interest rates. The additional benefits of a home warranty and other enticements can be far more valuable. If you want to search for properties on the MLS, click here. When you are ready to buy….
I am here to help.