Louisville KY Real Estate Blog

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!


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!


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!


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

More Search Options










We have the resources, local knowledge and expertise to help make sure your transition is as smooth as possible.

Moving to Louisville Moving from Louisville