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Carol Fairman

Sales Associate

My Blog

Our Best Market

6/18/2013
Welcome to the New Economy So far, 2013 has proven to be our most promising year since the housing bubble burst back in 2008. Home values are rising as Millennials enter the housing market, and some analysts estimate that prices have risen 20% or more in the last 12 months alone! We're hearing phrases like "bidding war" and "multiple offers," for the first time in years -- even in consistent markets like Louisville! 

Don't Sweat It 
This long awaited recovery is leaving many people skeptical. Maybe they were burned once before, or maybe they just don't feel comfortable yet, but some people aren't feeling quite so rosy about the recovery. Business forecasters at Kiplinger point to certain undeniable differences between this housing climb and the last, and tell us not to sweat it. The current rise in prices is simply the result of an imbalance between supply and demand, which will ease over the next 12 to 18 months as builders continue to produce new homes and more properties come through the foreclosure process. 

But don't worry -- there won't be a collapse when housing prices level off. Instead, we'll see a gradual return to normal appreciation and value rates, with each home appreciating about 1 percentage point above inflation every year. Despite the sudden hike in home prices, homes continue to remain affordable in Louisville, where we don't suffer the extreme peaks and valleys of some larger markets. Only 13% of the median family income is spent on mortgage payments -- down 11 percentage points from 2006. 

What To Do About it All:
Now is a great time to get a free, no obligation comparative market analysis on your home! See where you stand in the market and get an expert's advice on how to maximize your home's value during this period of growth and recovery. You can count on the experience of The Fairman Group of Re/Max Real Estate Center to give you an honest assessment, free of charge -- just call Carol at (502) 649-0644 or David at (502) 939-2180 to talk to a full-time REALTOR. 
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