Louisville KY Real Estate Blog

Should you Buy or Sell in the Winter Months?

Winter Home Sales in Louisville, Ky.  -- Good or Bad Thing?

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The KCM Blog noted this morning that over 14,000 homes are being sold EVERY DAY in the US -- right now.

Some people think that the winter months are "slow" for home sales, and to a certain extent, this is true.  The weather is colder, some folks don't like being out in the "weather" as much in the winter, and the holidays always take the focus off of buying or selling a home.

However, if you're thinking of selling your home, you should know that Buyers who are out in the winter are SERIOUS -- they're not just passing time or "looky-Lous" as the industry calls them.  They want a home and need to move. Some are relocations, and others are people for whom the time has come and they want a new home. So, there may not be as many people looking at homes in the winter, but those who are looking are focused!  With over 95% of home searches now starting on the Internet (as we hope yours does, on LouisvilleHomeScape.com!), the weather doesn't really matter -- you can still review existing "inventory" of homes from your desk or sofa.  There are fewer Buyers and also fewer Sellers in the winter, so the market stays sort of "balanced".

If you're considering Buying, the real estate industry has several observations this fall: 1) Home values/prices are rising, so buying now may avoid faster price increases which are sure to come in the Spring, 2) Interest rates are also rising.  A 1% increase in interest rates increases mortgage payments by about 10%, so lower is, of course, better.  Experts...

Average Days on Market


Another great article from Keeping Current Matters (KCM) posted today...Very interesting.

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Tips for Unmarried Homebuyers

Buying a Home as an Unmarried Couple

A Real Estate Site known as Keeping Current Matters (KCM) posted this blog today...very well said!

Home Buying for Unmarried Couples

Posted: 21 Nov 2013 04:00 AM PST

Today we are excited to have Mark Scheets return as our guest blogger.  Mark is a writer for Total Mortgage Services, and often writes about home buying and refinancing.

Throughout the home buying process there can be various hurdles to jump over to make sure everything goes smoothly.  In today’s culture, we are finding more often unmarried couples are purchasing their first homes together.  Although this sounds like a great plan, there are precautions that need to be taken in order to make sure the process is done right. ...

Credit Scores and Homeowners Insurance

Credit Scores and Your Homeowners Insurance

I read an article recently that said homeowners insurance rates are being influenced more and more by the applicant's credit score.

Apparently, property and casualty insurance companies have discovered a correlation between credit score and the likelihood that the policy holder will file an insurance claim with the company.

So, if your buying a home in the Louisville, Ky area or surrounding counties, please ask us for a referral to a good insurance agent.  Then, be aware that the agent will probably ask for your social security number and permission to access your credit score before determining what rates you will be offered.

Finally, just be aware that this is a "soft" credit inquiry, meaning it's not viewed as a negative on your credit report and won't negatively affect your credit score.  Insurance companies only use your "score" in these calculations, and do not examine your entire credit report as a lender or other issuer of credit probably would.

If you have any questions, or would like to discuss reputable contacts for homeowners insurance, please give us a call!

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August 2013 Home Sales

August 2013 Home Sales Strong in Louisville, Ky. and Surrounding Counties

The Greater Louisville Association of Realtors just released home sales information for August, 2013 and year-to-date 2013.  The big news is that the average sale price is up 3.5% over August, 2012 and home sale prices have topped those of 2007 for the first time since!  The average sale price in August was $175,000, vs. $174,000 in August of 2007.  This is certainly welcome news to owners who bought in 2007 or early 2008, when the market was at its peak.  Many of those owners have been "under water" since prices fell after the 2008 meltdown, and are now back to levels where their homes can be sold without a loss (or worse yet, a short sale!).

Note that home prices didn't slip evenly in various neighborhoods back in 2008, and recovery has not been uniform from neighborhood to neighborhood.  If you're interested in buying or selling a home in Louisville, we can tell you where various neighborhoods stand regarding price recovery.

Perhaps just as good news is that the number of homes sold is up about 17% from 2012.  As more homes are listed and the market cools just a little from summer's pace, our market is becoming fairly "balanced" with about 6,900 homes for sale in the Louisville area (including surrounding counties).  This is enough "inventory" to last a little over six months if no more homes were listed, and is considered fairly balanced between buyers and sellers.

We're hearing a lot of Realtors comment about Sellers wishing to take advantage of rising prices and opting for listing prices that are too high.  Remember, prices are up 3.5% since last year -- not 10% -- but still great news for all of us!

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New Listing in Cherrywood Place - LaGrange

1103 Cherry Ridge RunJust Listed -- 2,089-foot home in LaGrange's Cherrywood Place, MLS Number 1370275.  Four bedrooms, 2.5 baths, open floor plan, great condition. $218,500.  Click here for details or here for the Virtual Tour of this beautiful home!

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New Listing in Hikes Point

2811 Dandor Rd, MLS Number 1370953

We just listed a pretty, fully-renovated home in the Hikes Point area near the intersection of Taylorsville Rd and Breckinridge Ln! This is a three-bedroom home with two full baths and a private, wooded, fenced rear lawn.  The list of updates is long, so please click here to see the details on this home or here if you prefer the virtual tour!

2811 Dandor Rd

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We Hope You Like Our New Website!

All New LouisvilleHomeScape.com Introduced!

The LouisvilleHomeScape.com website has been totally re-designed and re-built!  The new site still offers home search services for Buyers, including many options to help you search for the "perfect" home.  For those of you who have been using our site for months or years, all of your saved searches, "favorite" properties, etc.  are still here!  We have also added more information about each home you may visit, including more demographics, school info, days on our site (days on market) and more!

The new site also incorporates content for Sellers, Relocating families and much more, and will house our real estate BLOG from this point forward.

This site was designed for our customers and clients, as well as potential customers who haven't gotten to know us yet.  It was also designed with a lot of help from our customers and clients!  During the design process, we asked for input from our customer base regarding color schemes, services offered, etc.  -- and as we always do, we listened!

As you review our new site, we hope you find it visually appealing as well as highly-functional!  If you have any suggestions, please email or call us to let us know, or simply comment on this Blog post - we will be monitoring!

Thanks again for your business, or thanks in advance for your business to come!

Best regards,

Steve

 

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New Home Search Tool For Mobile Devices

LouisvilleHomeScape.com for Mobile Devices

If you are already using our website while on your computer, you will love the fact that all of your saved searches, saved homes, preferences, etc. will carry over to your smart phone or tablet device!

As you already know, all homes in the Louisville, KY area and surrounding counties appear on our site, and all of those will also appear while using your mobile device.

It couldn't be any easier!  While using your phone, iPad or other device, just go to LouisvilleHomeScape.com and our system will recognize that you're on a mobile device.  Click the gear for the login screen (or to register, if you haven't already).  Just so you get a sense of how useful the mobile site is, you can drive through a neighborhood, click the "Nearby Homes" link, and add any homes you see and like to your favorites!  When you're back at your computer, anything you looked at or added to your list of Saved homes will be there!  It's that simple!

If you prefer, you can also search by county, MLS number,  neighborhood, zip code and every other criterion you can use on our main website.  As you would expect, you can view all information about the home, including the photo gallery.

You can also click Contact Us on the screen to call us or the email address to send us an email.  Feel free to text from your mobile if you need immediate information about a property.

 

We suggest you bookmark LouisvilleHomeScape.com on your mobile browser, as we hope to be seeing you frequently!

We hope you like...

2013 Year-to-date Housing Boom in Louisville

YTD Housing Market in Louisville, Ky.

2013 has been a year to remember for Buyers and Sellers of homes in Louisville, Kentucky. The early 2000s were boom years for the Louisville housing market (including all the surrounding counties which make up the Greater Louisville Association of Realtors -- Oldham, Spencer, Shelby, Bullitt and others) , with closings peaking at 7,503 in 2007 for the period January through June.  After the "crash" in 2008, sales for the same six-month period fell to  4,847 in 2009 -- down roughly 35%.  Every Realtor remembers that period, as do Sellers who were trying to sell their homes in a market which had largely evaporated! The next few years were tough for home sellers, as reduced demand had depressed prices of those homes purchased during the "hot" years of 2005-2008.  It was even a tough time for Buyers, as they knew that homes would be around for a long time ad there was little incentive to make a decision!

Things are looking much better in 2013, with home sales for the first half of the year up to 6,823 -- only about 700 short of the "easy money" days of 2007.  Average selling price the first half of this year was just under $174,000, exceeding 2007 prices for the first time.

Another good indicator of housing market "health" is the average days it takes for a home to sell after it's listed -- we call it "average days on market".  This indicator hovered around 90 for most of 2009-2012, but was down to 74 for the first half of 2013!  So, homes are selling about 15 days faster than they have for the past few years.

New home construction virtually stopped in the latter part of 2008, as banks withheld credit to homebuilders already saddled with more "inventory" than they could sell.  However, 2012 and 2013 have seen a huge increase in new home starts -- you may have seen a lot of new construction going on, which is a big change from the past several years.

There...

Energy-Saving Tips for the Home

When it comes to energy efficiency, look for smart features and expertise to help you save energy and money and add value to your home.

1. Begin with a Right-Sized Home.

If the home you buy is simply too large for you or your family’s needs or plans, you stand a good chance of wasting energy through excessive heating and cooling costs. If it’s too small, you’ll feel cramped and uncomfortable. It’s a big investment, so seek balance and buy it “right” from the outset. 

2. Purchase Energy Star Appliances Such as Your TV, Dishwasher, Washer and Dryer, and Microwave.

And especially the refrigerator, as it alone contributes about 10 percent of the energy use in a home. Also, unplug electronics not in use or turn off power strips to avoid phantom charges. 

3. Install Efficient Lighting Such as Compact Flourescent (CLF) or LED Bulbs in Every Fixture.

Lighting accounts for about 6 percent of an energy bill each year.

4. Get an Energy Audit and Have Tests Performed to Identify Ways of Improving Your Efficiency.

You can always upgrade your heating, ventilation, and air conditioning (HVAC) system as well as your  thermal envelope, which includes insulation, windows, and doors  and the seals or weather stripping around them. Click here for more energy-saving tips.

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