Louisville Real Estate Blog

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Do I need a Survey?

Friday, September 2nd, 2011 at 10:18pm. 38703 Views, 0 Comments.

louisville real estate survey

If you are like most persons, the obvious answer to “Do I need to get a survey?” is:   “I’m buying a house in a Louisville subdivision, I don’t need to get a survey. I’d rather save the $250-400.”

But, what is always obvious, isn’t necessarily correct.

In October 2006, we represented some clients that were purchasing a home in an established and fairly affluent neighborhood that felt similarly.  Upon our insistence, they finally relented and ordered a staked survey for the home they were purchasing.

The surveyor found that even though the home owner had gotten the proper permitting to construct their all brick $30,000 free standing garage, the current owner of the property had never gotten a survey either to mark the…

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Louisville Golf Homes

Friday, September 2nd, 2011 at 10:02pm. 89458 Views, 1 Comments.

louisville country clubsWe’ve received a few requests regarding the various Louisville Golf Country Clubs that are available in the area, so thats what today’s article is about.  We’ll start off with some of the more pricey and work our way down.  So here we go with just a few:

Valhalla Golf Club – Its a golf country club.  Period.  There are no tennis courts, and no swimming pools.  It does however offer a cozy club house, but its bread and butter is golf.  But, there is something to be said for specialists.  Valhalla is playing host to the 2008 Ryder Cup later this year.  Its initial membership fee is $50,000+*  (*estimated, but its probably more), and has a monthly membership fee of $500.  Membership is fairly exclusive.  There are only approximately 250…

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What does MLS mean?

Friday, September 2nd, 2011 at 9:57pm. 10620 Views, 0 Comments.

If you ask the question “What does MLS mean?”, you are likely to get a variety of answers.

Some sports fans will immediately respond with “Major League Soccer”.

If you ask someone that is looking to buy a home, they’ll most likely think of MLS as meaning Multiple Listing Service.

But if you ask Sarasota real estate agent, Marc Rasmussen, he’s likely to tell you MLS means one giant headache.  Why, you may ask?

Well, lets go back a few years to the beginning of the story……

Back in March 2002, a real estate trade association publication wrote an article offering advice about good website name selection.  Included in the article was the recommendation that using MLS as part of your name was an excellent tip for those wanting a…

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North Oldham High School Tis The Season Artisan & Spirit Fest

Friday, September 2nd, 2011 at 9:49pm. 2569 Views, 0 Comments.

The 3rd annual North Oldham High School (NOHS): 2009 Tis The Season Artisan and Spirit Fest is coming up November 14, 2009 at the North Oldham campus, and will be open from 9:00 am – 4:00 pm.

For those wondering what its all about:  think St. James Court Art Fair with an Oldham County KY flair.

Some of the highlights of the event include picture opportunities with Santa Claus, crafts for children, and a host of winter time treats will be available such as chili, cider & baked goods.

There is still some room for artists and artisans to participate – so if you want to be a part of this great event, you better get your application in ASAP.  Call (502) 442-3173 for more information.  But, better hurry if you have interest, space is limited and…

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David Fenley – Louisville Office Space

Friday, September 2nd, 2011 at 9:45pm. 4069 Views, 0 Comments.

david fenley louisville kyToday, I wanted to spotlight a businessman in the Louisville area:  David Fenley.  David Fenley is a Louisville office space developer that has specialized in class A office space. His company currently has over 21 office buildings that contains 3,000,000+ sq.ft. of class A office space and the company is one of the largest office developers in the entire state of Kentucky.

David Fenley’s specialty has been to build executive office suites in a more efficient manner than traditional/older class B buildings – offering the opportunity for persons to move up from class B space, to the executive suites – and get it done for less money than if they had stayed in the lower end class B space in the first place. I’m sure some of you are immediately…

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Louisville Real Estate – 2008 Year in Review

Friday, September 2nd, 2011 at 9:41pm. 1730 Views, 0 Comments.

moving to louisvilleWhile its not technically the end of the year officially, the vast majority of Louisville real estate data has come in and we can start drawing some conclusions of how the 2008 year in review shaped up. Before we dive into the year in review, lets start off with the most recent figures for November: if you compare November 2008 to November 2007, the number of real estate transactions are down approximately 35% for the metro area. And if you compare prices, prices are down approximately 8.1% from a year ago as well – bringing the median sale price for the month to $124,500. But, a simple month to month comparison can be somewhat misleading because its simply too small of a data pool.

So, lets now look at the Louisville real estate market 2008 year in…

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Louisville House Prices Decline 5%

Friday, September 2nd, 2011 at 9:38pm. 2459 Views, 0 Comments.

louisville-realtorsThe Greater Louisville Association of REALTORs (GLAR) have provided the latest homes prices figures.  Louisville house prices have declined 5% in the past year (from October 2007 through October 2008).  The current average value for a Louisville home now stands at $130,000.  And if you look at it from a multi-county perspective of including Jefferson, Bullitt and Oldham County, there has been a decrease of 22% fewer homes being sold in 2008, relative to the same time frame in 2007.  Still, compared to many other markets nationally, Louisville is still holding steady and fairing the tough economic conditions quite well.  Many markets saw an 11% decrease last month alone.

From an “on the ground” perspective from Louisville Realtors, we’ve begun…

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Louisville First Time Home Buyers $7500 Tax Credit

Friday, September 2nd, 2011 at 9:32pm. 2014 Views, 0 Comments.

louisville first time home buyersI’m sure that many of you Louisville first time home buyers  have heard about the $7500 tax credit.  For those that haven’t, or are wanting to find out more information, the $7500 tax credit essentially applies to those First Time Home buyers that meet certain criteria:

1.  Purchase a home between April 9, 2008 through July 1, 2009.

2.  You claim the tax credit when you file you your taxes.  [If you have questions, be sure to ask your accountant.]

3.  The full $7500 tax credit may not be available to all persons.  You may elgibile for a partial credit (or even none).  This usually applies to those persons that earn a large income, or are purchasing a property with a value below a certain threshold.

4.  Its essentially an interest…

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Fern Creek Developments Move Forward

Friday, September 2nd, 2011 at 9:24pm. 3495 Views, 0 Comments.

fern creek louisville kyGood news for all Louisville homes  owners in the Bardstown Road & Gene Snyder Freeway area. A proposed shopping center that will encompass approximately 45 acres called South Pointe Commons is now moving forward. It still has a few more hurdles to get through. It needs final approval for the zoning change; the real estate is currently zoned residential, and it needs to be changed over for commercial use. The developer for the project is Barrister Commercial Group anticipates that the first stores could be open possibly as early as spring 2010. Current plans depict 420,000 sq.ft. of commercial space and it incorporates a new entrance for the Bates Elementary School (along with the razing of around 12 single family residential homes currently located on…

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August 2008: Louisville Real Estate Market Softens

Friday, September 2nd, 2011 at 9:21pm. 1642 Views, 0 Comments.

louisville real estate marketWhile the Louisville real estate  market has been fairly immune to the slowing market nationally, the latest data is now showing that things are starting to soften somewhat in regard to the sale of single family residential homes and condos.

Before we get into the August 2008 numbers, I wanted to recap all of the numbers for this year.  So, lets take a look at the data and see what we can make of it:

January 1 – August 31 2007

Homes Sold 10513

Average Sales Price $174,428

Median Sales Price $140,000

January 1 – August 31 2008

Homes Sold 8021

Average Sales Price $170,711

Median Sales Price $137,000

So, as you can see – theres been a fairly stiff decrease in the number of the Homes Sold in Louisville this year of nearly…

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