They know “the Ville.”
Louisville is as unique as the 15 ways you can pronounce the name. Louisville is a big city with a small-town personality. Everyone knows everyone, and if you ask what school someone attends the response is their high school. With that being said, the Louisville Real Estate is just as diverse and is very intimate to small town understand. Your real estate agent should have a big picture understanding of the real estate market in Louisville.
Things to consider:
The real estate scene in Louisville consists of many different small 4th and 5th class cities. Only people who grew up here truly understand. Each one of these cities creates a wide range of comparable prices for a home. For example, Zillow runs analytics based on zip codes, so if you have a home in 40213 you will have a wide range of prices and distorted Zestimate. Those who know Louisville know there are places priced at $60 dollars per square foot and $150 per square foot in the same zip code. How is that possible? Louisville natives realize 40213 plays host to the small city of Audubon Park. Audubon Park is an affluent area, hosting homes from $200,000 to $500,000. Zillow averages all the houses in a zip code, which distorts true value. Furthermore, there are hot places emerging like Germantown, NULU, Highlands, St. Matthews, Middletown and Anchorage are premier areas holding strong value. Other areas are losing value and places like Pleasure Ridge Park, Valley Station, and Iroquois Park areas are receiving little publicity but are holding strong to price value and are a great place for starter homes and move homes.
Some other things about “the Ville” is the boundaries are expanding. Many people who grew up in Louisville are moving to the outskirts. Mt. Washington, Shepherdsville, Taylorsville and Oldham County are priced destinations for people looking for homes for sale in Louisville. While technically these areas are not in metro Louisville, they are at worst one off. Secondly, homes in these areas often times qualify for different loan products. Having a working knowledge of the loan products available to different areas and having relationships with loan officers to guide those processes is paramount in making the best financial decision.
Lastly, your real estate agent needs to understand the school system. The public-school system, which services the Louisville area is Jefferson County Public Schools (JCPS). JCPS has an open enrollment policy, and a cluster system in an effort to encourage diversification across the district. Additionally, JCPS has magnet schools with specialized curriculums from auto tech to nursing. Homes are not tied to home schools. Knowing which cluster of schools qualifies for a particular address. The Independent School District of Anchorage and the private school systems of private schools and catholic schools are considerations real estate agents in Louisville need to have knowledge of.