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        <title>Louisville Homes Blog</title>
        <link>http://www.louisvillehomepros.com/blog/jefferson-county/</link>
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            <guid>http://www.louisvillehomepros.com/blog/david-fenley-louisville-office-space.html</guid>
            <link>http://www.louisvillehomepros.com/blog/david-fenley-louisville-office-space.html</link>
            <author>office@louisvillehomepros.com (Jonathan Karlen)</author>
            <title>David Fenley – Louisville Office Space</title>
            <description> <![CDATA[ 
Today, 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 asking how the heck can it be cheaper to rent a Louisville executive office suite, than it is to be in an older 20 or 30 year old office building. For persons desiring to search for real estate be sure to visit Louisville real estate and you will be able to search Louisville MLS listings.


Here’s the answer: Older office buildings had a tendency to be less efficiently designed – relying on more rectangular shapes for the footprint of the building. This results in relatively narrow ends of the building, with very long sides. So, to get from one end of the building to the other – a person would have to travel a greater distance because of the long rectangular sides. This results in odd sized office space within the building, and less efficient flow from office to office. David Fenley has focused on more efficient space concepts that are more boxy or square in nature. This results in an even distribution of distance and space within the building. To get from one end of the building to the other, its all the same distance. This results in a more uniform layout/design of the interior space for the persons leasing, as well as more efficient movement throughout the building, and more efficient parking design.


So, while a person may need 10,000 sq.ft. for a 30 year old class B office building, they probably only need 6,000 sq.ft in the more efficiently designed buildings. Add in the upgraded and high end technological innovations and improvements in the new class a office buildings such as upgraded wiring (computers weren’t popular 30 years ago – the power loads can put a tremendous strain on older buildings), better insulation using modern materials for more comfort inside, impressive aesthetics, and more – and it becomes clearly evident that its not only cheaper to consider Louisville office space in a David Fenley building – its more comfortable, and a better place to do business.


Some background on the Fenley family: David Fenley is a Louisville native whose family roots and local Louisville Kentucky ties goes back to the late 1800s. His ancestors owned and operated a dairy in the Valley Station area on the south side of Louisville back in 1875. Through the years, the Fenley family has been involved numerous business interests, and ventures within the Louisville metro area.
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            <pubDate>Fri, 02 Sep 2011 21:45:14 -0400</pubDate>
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            <guid>http://www.louisvillehomepros.com/blog/louisville-house-prices-decline-5.html</guid>
            <link>http://www.louisvillehomepros.com/blog/louisville-house-prices-decline-5.html</link>
            <author>office@louisvillehomepros.com (Jonathan Karlen)</author>
            <title>Louisville House Prices Decline 5%</title>
            <description> <![CDATA[ The 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 noticing an increase in activity right now.  There are fewer persons looking, but the ones that are – are generally serious.  [So, if you have someone wanting to schedule a showing to get in to see your home - its probably in your best interest to try to accommodate them to get in to see it.]  Additionally to the homes that are being sold, many Louisville home sellers are tiring of their home being for sale on the market, and pulling their listing.  The sales, combined with the withdrawls (or cancellations), is reducing the overall inventory on the market.  This should give buyers less to pick from and not suffer quite as much from choice overload – all of which should help strengthen the Louisville real estate market.


We anticipate a stronger real estate market here in Louisville in 2009, than we saw in 2008.  Our job market remains relatively strong, and our home prices didn’t grow, generally speaking, at unsustainable rates like it did in the markets that have been hardest hit – as such, we should be among the first in the country to experience a rebound.  We think we are getting close to the “bottoming out” that everyone is always looking for – and if you are wanting to get into a new home, the next month or two are probably your golden opportunity to get in at the lower end of the market.
 ]]> </description>
            <pubDate>Fri, 02 Sep 2011 21:38:10 -0400</pubDate>
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            <guid>http://www.louisvillehomepros.com/blog/louisville-homes-prices-fare-well-overall.html</guid>
            <link>http://www.louisvillehomepros.com/blog/louisville-homes-prices-fare-well-overall.html</link>
            <author>office@louisvillehomepros.com (Jonathan Karlen)</author>
            <title>Louisville Homes Prices Fare Well Overall</title>
            <description> <![CDATA[ The most recent numbers are in and Louisville home prices range well overall (especially compared to some of the figures relative to a national perspective).  For most of the Louisville homes  values – their values have experienced a moderate increase, or slight decrease overall.

Some of the exceptions to that broad picture, to cite an example, would be Anchorage KY.  Anchorage real estate showed a fairly strong growth from 2007 to 2008, with an average increase of 3.5% appreciation.  Oldham County KY real estate fair even better, with an average increase from 2007 to 2008 of 4.6% appreciation.  Ok. Ok.  So they don’t compare to some of the “Flip My Home” shows you see on TV.  But you have to remember the Louisville KY real estate market is fairly conservative overall – and those values, especially in today’s real estate market and economy do represent good and strong growth for our area.


Some areas that are exceptions in the other direction for the Louisville homes market, would include Downtown Louisville homes, Old Louisville, West Louisville, and Shively.  Those areas saw extremely strong depreciation from 2007 to 2008 of -22%.  That much of a drop is worrysome to most persons as it would take years of our historical rate of appreciation to regain what they lost in value in just the 1 year timespan.


There is however some brighter news on the horizon.  The new federal housing bill was recently passed, and as part of the $4 billion package, it includes monies allocated to fix up areas designated as blighted and those that have lots of vacant property.  Additionally, there is up to a $7500 tax credit available for first time home buyers.  The $7500 essentially acts as an interest free loan.  The loan has to be repaid (sorry folks!) over the course of 15 years by making annual payments (unless you sell your home prior to the 15 year maturity), but it is interest free – and even if you have to pay it back, the use of that money can be a real boon to persons looking to make their first home purchase.  And as with almost any government program, there is a lot of what ifs that follow along with it.  Consult with your accountant to find out all the ins-and-outs regarding the program after you make your home purchase and are getting ready to file your taxes.
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            <pubDate>Fri, 02 Sep 2011 21:18:38 -0400</pubDate>
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            <guid>http://www.louisvillehomepros.com/blog/housing-bailout-possible.html</guid>
            <link>http://www.louisvillehomepros.com/blog/housing-bailout-possible.html</link>
            <author>office@louisvillehomepros.com (Jonathan Karlen)</author>
            <title>Housing Bailout Possible</title>
            <description> <![CDATA[ President Bush recently stated his belief that a housing bailout was possible. He hopes that a compromise surrounding the proposal can be reached with Congress, but feels that it will be necessary for it to be less about politics and more about actually helping home owners. The Senate is currently discussing a possible $300 billion plan that would provide an ability for cheaper loans for those persons that are at risk of losing their homes but it has been tied up in debate for some time now and may be losing some steam behind the measure. Additionally, the plan would essentially overhaul the Federal Housing Administration.

The discussion for the proposed legislation hopes to regain momentum after the legislators get back from a week long break. The impact it may have on homes in Louisville remains to be seen.


President Bush went on to state that he felt that the American economy would be fine in the long haul, and that its really just now that it is slumping somewhat. Perhaps a somewhat rosy outlook, but probably a fairly accurate one. The American economy has traditionally been a catalyst for more than just itself – so its in other countries best interests to help ensure that the economy and relatively speaking, soft (at least on a national level), real estate market.
 ]]> </description>
            <pubDate>Fri, 02 Sep 2011 21:03:41 -0400</pubDate>
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            <guid>http://www.louisvillehomepros.com/blog/louisville-ky-is-most-livable-city.html</guid>
            <link>http://www.louisvillehomepros.com/blog/louisville-ky-is-most-livable-city.html</link>
            <author>office@louisvillehomepros.com (Jonathan Karlen)</author>
            <title>Louisville KY is Most Livable City</title>
            <description> <![CDATA[ Its official: Louisville KY is the most livable large city in the United States according to the U.S. Conference of Mayors – taking on some very stiff competition from other cities such as Chicago, Miami, Tampa, Albuquerque,  Orlando, Seattle, and Las Vegas among numerous others.  The Mayor of Louisville, Jerry Abramson, accepted the honor on behalf of the city at the conference’s annual convention.  This marks the first time that Louisville KY has won the overall top prize (it has scored well previously in smaller categories such as the outstanding achievements taking first prize for that category twice).

The livability awards are judged by numerous urban government specialists – which includes among others, mayors &amp; ex-mayors to evaluate the criteria which includes how much a city has improved its quality of life for its community. For those persons that may be interested in buying a home, be sure to check out our Louisville homes search.


One of the key components for Louisville’s win was the Healthy Hometown Movement which began in September 2004.  It stresses a variety of things which include physical activities such as bicycling, nutrition, and an overall healthy lifestyle.


There were over 200 applicants for the competition.  Congratulations to Louisville Kentucky – most livable large city in the United States!
 ]]> </description>
            <pubDate>Fri, 02 Sep 2011 21:01:09 -0400</pubDate>
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            <guid>http://www.louisvillehomepros.com/blog/kentucky-foreclosures-increase-461.html</guid>
            <link>http://www.louisvillehomepros.com/blog/kentucky-foreclosures-increase-461.html</link>
            <author>office@louisvillehomepros.com (Jonathan Karlen)</author>
            <title>Kentucky Foreclosures Increase 46.1%</title>
            <description> <![CDATA[ Kentucky foreclosures increased 46.1% from the month of April to May 2008. Thats a big increase – but Kentucky still remains fairly well insulated and fairing well in the softening real estate market overall, especially as you begin comparing it to the rest of the United States. Kentucky ranks 38th for foreclosures, placing it well near the bottom.

To delve more into the numbers, Kentucky had 745 filings during that time frame which accounts for 1 out of 2534 homes in KY. And if you compare those numbers to a different time frame, like the year previously for May 2007, the rate of foreclosures was only an increase of 2.2%.


Kentucky ranked well, particularly if you examine some of its nearby neighbors. Ohio ranked #9. Illinois ranked #11. With Indiana right behind them at #12. Tennessee was #14. Virginia was #15.


The only immediate neighbor doing better was actually West Virginia, who ranked #49.


So, while the numbers can be a big shocker to see headlines of a 46.1% increase in foreclosures. Its really somewhat relative to the overall picture. Kentucky is a relatively stable real estate market overall. If you look at the number of Louisville homes for sale you can clearly see that the Louisville real estate market is getting along relatively ok (and it is certainly fairing better than most of the rest of the country).
 ]]> </description>
            <pubDate>Fri, 02 Sep 2011 20:58:04 -0400</pubDate>
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            <guid>http://www.louisvillehomepros.com/blog/louisville-foreclosure-rate-declines.html</guid>
            <link>http://www.louisvillehomepros.com/blog/louisville-foreclosure-rate-declines.html</link>
            <author>office@louisvillehomepros.com (Jonathan Karlen)</author>
            <title>Louisville Foreclosure Rate Declines</title>
            <description> <![CDATA[ 
The Louisville foreclosure rate declined by 48% this year in 2008 compared to the same month in 2007.  And this is on the heels of a decline of 8% drop that took place during the 1st quarter of this year (again, using the same frame of comparison of during the same period in 2007).


And if you compare those numbers to the national average that has experienced a 65% INCREASE in foreclosures, you can see clearly that the Louisville real estate market is definitely bucking the trend.


To get into specifics:  288 foreclosure filings were made in the metropolitan Louisville homes market for April 2008.  This equates to approximately 1 in every 1874 homes in the area.  Nationally, there was approximately 1 foreclosure filing made for every 519 homes.


And even on a larger perspective of the entire state of Kentucky, Kentucky ranks 43rd for foreclosure rates with 1 in every 3710 homes making a foreclosure filing.  Our nearby neighbor Indiana, was ranked 11th with 1 in every 544 homes filing.


Again, the “bad” real estate markets continue to fair poorly:  Out of the top 10 highest foreclosure rates in the entire country for metropolitan areas, 9 of the 10 were in Florida and California.


The overall real estate market softening that Louisville has experienced has been slight – and its not been primarily from a market correction as much as it is due to a build up with inventory and a softening of the national economy overall.  Basically, a lot of the problems (which aren’t many) that Louisville homes for sale may be having is primarily due to everyone else muddying things up – and not really from what we’ve been doing on our own accord.


The Louisville homes market should continue to strengthen despite a softening economy nationally, provided no major changes occur that would have a negative impact, and housing inventory remains constant or declines.
 ]]> </description>
            <pubDate>Fri, 02 Sep 2011 20:27:52 -0400</pubDate>
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            <guid>http://www.louisvillehomepros.com/blog/louisville-real-estate-zoning-downgrade-thixton-lane.html</guid>
            <link>http://www.louisvillehomepros.com/blog/louisville-real-estate-zoning-downgrade-thixton-lane.html</link>
            <author>office@louisvillehomepros.com (Jonathan Karlen)</author>
            <title>Louisville Real Estate Zoning Downgrade: Thixton Lane</title>
            <description> <![CDATA[ As some of you will recall an article regarding a requested downgrade in zoning by various Louisville homes owners in the Thixton Lane area in the southern portion of Jefferson County Kentucky. You can read the previous article here.

Well, the efforts of those Louisville homes owners apparently worked, as the Louisville Metro Council approved the downgrade in zoning use on approximately 475 acres in the Thixton Lane area. The downgrade in zoning now requires that those properties be developed be done so on tracts of 5 acres or larger for approval.


This is typically a fairly irregular request and the home owners in the area wanted to use it as a means of preventing Louisville real estate development from running rampant in their area and that the interior services such as roadways would be unable to handle a big increase in volume of use if real estate developments were allowed to come into the area and gain approval for a higher density project.


This collective effort was the result of several years of continued and never wavering support headed by Mark Durbin who is serving as president of the Thixton Lane Neighbors organization that was the original entity to place the request before the Louisville Kentucky Metropolitan Council.


Mark Durbin gave credit to Louisville council representative Robin Engel who is with the 22nd district, in assisting in getting this approval passed by the metro government of Louisville.


Congratulations to the Thixton Lane Neighbors! You’ve managed to succeed where many others would have wavered in their resolve.
 ]]> </description>
            <pubDate>Fri, 02 Sep 2011 14:42:04 -0400</pubDate>
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            <guid>http://www.louisvillehomepros.com/blog/louisville-homes-values-increase-louisville-homes-rate-of-sales-decrease.html</guid>
            <link>http://www.louisvillehomepros.com/blog/louisville-homes-values-increase-louisville-homes-rate-of-sales-decrease.html</link>
            <author>office@louisvillehomepros.com (Jonathan Karlen)</author>
            <title>Louisville Homes Values Increase – Louisville Homes Rate of Sales Decrease</title>
            <description> <![CDATA[ The most recent Greater Louisville Association of REALTORs report is out for the month of January 2008.

Louisville homes values increased. The number of Louisville homes sales decreased.


Which is pretty much on par and consistent with how the Louisville real estate market has continued to fair within an overview of a national real estate market perspective.


Delving more deeply into those 2 conclusions, you can see the following:


If you compare the Louisville homes values in January 2007 to January 2008, the median price is approximately $133,800 and indicates a 3% increase from the previous year (which is actually “good” considering many other depressed markets across the country). Some persons see that as a cause for celebration. In reality, its probably more reason to support the conservative optimist viewpoint.


On the other side of the coin, if you compare the number of Louisville homes sales in January 2007 to January 2008, you will see a 16% decline during that time frame – with 802 sales taking place. Some persons will see that as a cause for alarm. In reality, its probably not that surprising. Inventory is high right now. And even though we saw a general decline from the 11,000 mark of Louisville homes for sale on the MLS that was there a few months ago – the 10,000 mark that we are currently dealing with still represents an oversupply of inventory.


But wait – if you say there is an oversupply of inventory, doesn’t that mean that prices should drop? not increase?


Its just like pulling a thread on a sweater. It just keeps going and going the deeper you look at things.


Yes, generally speaking supply and demand applies. But, there are additional circumstances that are putting a curve on things.


There is a lot of inventory. Much of it overpriced, for what values should be. [Too many people watching those "Flip this House" TV shows out in California and elsewhere that see people getting 200% appreciation for their home in 3 years, and what not.] This has left SOME persons artificially skewing what they think the appreciation should be for their Louisville home. And then add in some real estate agents feeling the pinch overall for the local real estate market, and they go ahead and take the listing to try and pick up some business. And this type of behavior is leading results toward a bad end result for everyone involved.


The house doesn’t sell because its overpriced relative to its competition, and the overall condition of the home is lacking relative to its comparables as well.


So, yes, while the initial numbers on the surface may cause you to jump to an incorrect conclusion regarding value. In actuality, the Louisville homes that are being priced appropriately are moving. And they are moving at a higher value than they were a year ago at this time.


And now, moving from a local Louisville real estate market perspective to a national view point….


Many persons feel that the national market hasn’t seen the worst of it yet. The huge over valuations (that are now a part of this correction within the market), are still needing further adjustment – down. This will continue to put the pinch on home owners in depreciating market areas, and home builders that cause a ripple effect through that local economy because they won’t be wanting to expand building new spec homes until some of the values stabilize and the market picks up in those areas. Which in turn causes the economy to slow down ever further. etc, etc. Its quite a vicious little cycle. But it all gets back to those hot, sizzling markets rampantly appreciating out of control.


Once its all said and done, hopefully persons will try and keep their markets in check.

Final thoughts: Its a great time to buy Louisville homes. The Louisville real estate market has a perception of being soft, in keeping with the trends of the national market. But real estate IS LOCAL! Time to jump in, and take advantage of other persons perceptions that things are bad. And pick up a deal in the process. ]]> </description>
            <pubDate>Fri, 02 Sep 2011 14:30:16 -0400</pubDate>
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            <guid>http://www.louisvillehomepros.com/blog/louisville-kentucky-will-host-street-rod-nationals-through-2020.html</guid>
            <link>http://www.louisvillehomepros.com/blog/louisville-kentucky-will-host-street-rod-nationals-through-2020.html</link>
            <author>office@louisvillehomepros.com (Jonathan Karlen)</author>
            <title>Louisville Kentucky will host Street Rod Nationals through 2020</title>
            <description> <![CDATA[ Its official.  Louisville Kentucky will host the Street Rod Nationals through the year 2020.  The Louisville KY newspaper The Courier-Journal recently reported that the National Street Rod Association has executed a contract to have the national show stay in Louisville for more than a decade.

The Street Rod Nationals is more than a car show.  Its an event.  Approximately 30,000 spectators attends the event, and it draws 11,000 classic street rods to the event.  The economic impact for the Louisville KY metropolitan area is approximately $15 million per year.


To give some background on the event, it was first held in Louisville in 1992.  And the show has been held continuously in Louisville from 1997-2008.  The Street Rods Nationals are going to be held July 31 – August 3, 2008 this year at the Kentucky Fairgrounds and Exposition Center.


Louisville is very fortunate to be host for the event, and the privilege of having it here for the next 13 years is a wonderful thing.


Even if you don’t plan on attending the Street Rod Nationals – you can bet you will be a part of it.  You will see lots of classics, and hot rods roaming all over the entire city.  And for several days prior (and after) the event, you will see them coming into town from all over the country.


The only suggestion I have regarding the event is, its usually so blasted hot.  It would be nice if it was held a little earlier, or a little later.  Lots of cars sitting on the asphalt of the Expo Center, and August heat (the arguably most uncomfortable month for this area), can make things a little hard on everyone.  Just remember to pace yourself, drink lots of water, wear sunscreen – and bring your camera!

It would be nice if all of these persons would just make Louisville home – so we could enjoy the vehicles year round. ]]> </description>
            <pubDate>Fri, 02 Sep 2011 14:26:58 -0400</pubDate>
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