Status Report

Currently, both the housing market and the economy as a whole are stuck in a rut.  Click on the link below for a detailed explanation of where we are currently on a national level.  Keep in mind, Bloomberg is a national publication and the Louisville area has seemed much more steady, not experiencing the deep troughs that has plagued the national market during the entire recession.

Bloomberg

Short Sale Process Getting Quicker

Check out this link:  American Land Title Association News

It appears that short sale approval turnaround time has shown a marked improvement recently.  A year ago the process was estimated to take, on average, at least three months.  The same process can now be completed in thirty days.  Some will argue that the time frame had nowhere to go but up, but for those of us still practicing in this market, this is very good news as it appears short sales are with us for the near future.

Rates Still Low

It has been a while since I've updated the blog and for that, I apologize. The good news is that the reason I've been unable to update is that it has turned into a fairly busy summer. Rates have remained low and we've seen an influx of refinance transactions. Sales transactions continue to remain steady as well. Please read the attached blurb from Realtor Magazine Daily...rates are still extremely low and hopefully will remain that way throughout the fall and winter.

Rates Remain Low