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How To Beat The Competition In A Hot Housing Market

Louisville is one of the hottest real estate markets in America. Many of the homes in the area are selling at or above the asking price and staying on the market for an even shorter period. This has greatly limited the available inventory of for-sale homes. If you’re in the Louisville market to buy a home, you’ll most likely be facing increased competition and bidding wars.

 

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With hot market areas in Louisville like St. Matthews, Germantown, Schnitzelburg and parts of the Highlands facing increasingly low inventory levels and 10-plus-year highs in sales, finding your dream residence can be a challenge. How do you beat the competition in a hot housing market like Louisville?

Get Preapproved

According to Nerdwallet, getting a pre-approval is a ‘must’ in a competitive housing market like Louisville. Don’t even bother putting in an offer if you haven’t taken the time to get pre-approved. Sellers in a hot market are looking for more than just your offer amount. Most look for interested buyers who are ready to complete a sale.

When submitting an offer, include a letter from your bank stating that your lender has already underwritten your application and is pending appraisal. Before you even start making offers, make sure that your lender already has a hold on your financial documents....

Deep in Bluegrass Country Is the Most Magical Historic Farmhouse (Country Living, November 2017)

If this whimsical farmhouse just outside of Pleasureville, Kentucky seems to have taken design cues from an old-fashioned steamboat, it's no coincidence. In fact, if you were to look at the house from the top down, it's shaped much like a ship, says the current owner, whose family has owned the property for almost 200 years. The spectacular home was fashioned in the "why-don't-they-still-build-'em-like-this" Steamboat Gothic style by its first owner, a steamboat operator on the Mississippi who chose the location because it resembled a picturesque riverfront scene. Read more.

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