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        <title>Louisville Homes Blog</title>
        <link>http://www.louisvillehomepros.com/blog/simpsonville-ky/</link>
        <description></description>
        <item>
            <guid>http://www.louisvillehomepros.com/blog/august-2008-louisville-real-estate-market-softens.html</guid>
            <link>http://www.louisvillehomepros.com/blog/august-2008-louisville-real-estate-market-softens.html</link>
            <author>office@louisvillehomepros.com (Jonathan Karlen)</author>
            <title>August 2008: Louisville Real Estate Market Softens</title>
            <description> <![CDATA[ While 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 24%.  Interestingly enough though, theres only been a slightly over 2% decrease in the Average Sales Price, and Median Sales Price.


This would indicate that while the total number of homes that are selling has dropped – the prices for which they are selling haven’t been affected too much overall.


So, now lets take a closer look at the August numbers.


August 2007


Homes Sold 1521


Average Selling Price $179,715


Median Selling Price $141,750


Average Days on Market (DOM) 74


August 2008


Homes Sold 965


Average Selling Price $181,472


Median Selling Price $140,000


Average Days on Market (DOM) 90


The total number of sales is down significantly (965 vs. 1521, which equates to an almost 37% decrease in the number of sales) .  And the average days on market has increased from 2.5 months to approximately 3 months.  But, probably more interesting is that the average selling price actually went up.  This would indicate that the higher end properties ($1,000,000+) while being fewer in number for the overall sales, are actually increasing the overall average value for Louisville homes sold.


So, what does this mean for a person looking to buy or sell Louisville real estate?  It means that homes are selling, albeit at a slower rate than in the past – BUT it does not mean they are selling for substantially less than they were previously.  (Sorry to those out there looking for a slam dunk deal in buying a Louisville home for 20 or 30 cents on the dollar.  It just isn’t commonplace here at this point in time.)


For Buyers: Theres lots of inventory to select from.  Currently there are over 10,000 homes for sale in Louisville market.  There are homes that represent a good value out there.  You just have to dig through them and find the one you want.  But – don’t expect to steal it.  Prices are holding fairly firm for those houses that are selling.


For Sellers:  Lots of inventory (read: competition) and longer market times are the norm.  If you want to get your home sold, you need to price it appropriately AND be the nicest within whatever price point you are currently competing.  No matter the price range, you will want to be at the lower end of that price range to get your home sold.
 ]]> </description>
            <pubDate>Fri, 02 Sep 2011 21:21:28 -0400</pubDate>
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            <guid>http://www.louisvillehomepros.com/blog/simpsonville-kentucky-downtown-proposed.html</guid>
            <link>http://www.louisvillehomepros.com/blog/simpsonville-kentucky-downtown-proposed.html</link>
            <author>office@louisvillehomepros.com (Jonathan Karlen)</author>
            <title>Simpsonville Kentucky – Downtown Proposed</title>
            <description> <![CDATA[ Simponsville Kentucky is a thriving and growing community that lies immediately east of the Louisville KY real estate market. It has served as an outpost in a mostly agricultural and rural landscape. But Simpsonville KY government officials have asked the Triple S Planning &amp; Zoning commission to consider how the city would be able to create a downtown district to better serve the community and its neighbors.

There is the understanding that the actual concept for a downtown Simpsonville KY may take up to 20 or even 40 years, but they are wanting to make plans now for the future that is coming this way. Some work preparing the way has already been started: Simpsonville requested money from the Kentucky state government to fund sidewalks along the US 60 corridor that goes through the city.


Be sure to check out our Simpsonville KY homes for sale and our wonderful subdivisions in Louisville KY neigbhorhood home search.


There is a push for community and citizen input on the proposal as well as potential grandfathering of existing businesses that may not comply with the potential future plans for the area and their ordinance changes that may occur that would place them in potential violation. At this point, most of the citizens appear to be behind the idea of getting ideas and plans in place for the future. Simpsonville KY gets a big thumbs up for thinking and planning ahead. Too many times, cities can grow before they really even know it – and then the infrastructure for those homes and businesses are insufficient to meet the needs of the rapid growth that they enjoyed in the first place. Getting things in place now before the demand from Louisville eastward stimulates high density real estate development is an excellent idea.
 ]]> </description>
            <pubDate>Fri, 02 Sep 2011 20:55:06 -0400</pubDate>
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            <guid>http://www.louisvillehomepros.com/blog/2008-shelby-county-kentucky-fair-horse-show.html</guid>
            <link>http://www.louisvillehomepros.com/blog/2008-shelby-county-kentucky-fair-horse-show.html</link>
            <author>office@louisvillehomepros.com (Jonathan Karlen)</author>
            <title>2008 Shelby County Kentucky Fair &amp; Horse Show</title>
            <description> <![CDATA[ The 146th annual Shelby County Kentucky Fair &amp; Horse Show is coming up June 12-21, 2008. Many events are scheduled this year including a Dairy Show, carnival rides, 4-H horse show, Miss Shelby County Pre-Teen, Floral displays, Little Miss &amp; Mister contest, NKTTA Truck Tug, Miniature horse show, Miss Shelby County Teen, Garden Tractor Pull, 4-H &amp; Future Farmers of America Rabbit Show, Poultry Show, Hog Show, Sheep Show, Goat Show, Baby Show, Shelby County Master Showman Contest, Beef Show, and sale of 4-H Project animals.

Admission to the Shelby county fair is free for children 10 and under. To all others, admission is $6. The main entrance is located on US60 at the horse statue (no tractors or livestock will be allowed through that entrance).


The Horse shows will begin at 7:00 pm each day beginning Wednesday. [For those that are unaware, Shelbyville Kentucky is The Saddle Horse Capital of the World.] For those interested in more information for the horse shows, please contact R.H. Bennet at (502) 664-0870, or Beth Snider (502) 647-0076. Ticket prices range from $20 to $40 for admission of the horse show events. For those persons that may be intersted in real estate, be sure to check out our Shelbyville horse farms for sale and put our team at the #1 Louisville RE/MAX office to work for you.
 ]]> </description>
            <pubDate>Fri, 02 Sep 2011 20:51:13 -0400</pubDate>
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            <guid>http://www.louisvillehomepros.com/blog/shelbyville-ky-homes-transfers-week-ending-april-19-2008.html</guid>
            <link>http://www.louisvillehomepros.com/blog/shelbyville-ky-homes-transfers-week-ending-april-19-2008.html</link>
            <author>office@louisvillehomepros.com (Jonathan Karlen)</author>
            <title>Shelbyville KY Homes Transfers week ending April 19 2008</title>
            <description> <![CDATA[ Its that time again for the most recent Shelbyville KY real estate  transfers for week ending April 19, 2008. The following are the Shelbyville KY homes that were sold for the week:

Dominion Homes of Kentucky LTD – to Angela &amp; Kevin Veeley – lot 40 Cloverbrook Farms, phase 1 section 1 – $142025


Charterwest Mortgage LLC through Countrywide Home Loans &amp; Christy Reese – to The Bank of New York – lot 5 Ardmore Subdivision – $1


David &amp; Stacey Monteleone – to Prudential Relocation Inc. – tract A, Rockbridge Heights II – $293000


Prudential Relocation Inc – to Jennifer Payne &amp; Trevor Rowe – Tract A Rockbridge Heights II – $293000


Bank of New York acting as successor Trustee, Raymundo &amp; Carmelina Nava – to The Bank of New York Trust Company – lot 36 Midland estates section 2 – $1


Chase Bank USA – Jeffrey Waldridge – to Federal National Mortgage Association – tract 1 Hillview Estates – $1


AKL Properties LLC – to Michael &amp; Gwynne Brunzo – lot 20 Knobview Estates – $189000


Kevin Browning – to Joseph &amp; Johnna Griffith – property in Shelby County – $55500


National City Mortgage Company, Roy Lay Senior – to Federal Home Loan Mortgage Corporation – lot 6 Grove Subdivision – $1


Nancy &amp; Charles Wells – to Kelly Cannon – lot 44 Orchard Crossing – $109500


Aurora Loan Services &amp; Edna Parr – to Secretary of Veteran’s Affairs – property located at Watson and Main Street – $1


Wells Fargo Bank acting as trustee, and Scott &amp; Suzanne Frech – to Wells Fargo Bank trustee – lot 42 Cardinal Club Estates – $1


Louisville and Nashville Railroad – to Glen &amp; Lise Sageser – property located at James Quincy Estate – $100


Glenn &amp; Lise Sageser – to James &amp; Lisa Sams – property near Christianburg Kentucky – $300


James &amp; Lisa Sams – to Aurora Farms LLC – 2 tracts in Shelby County KY – $165000


Andrew &amp; Lisa Cheak – to Paul Castro – Lot 32 Woodfield Subdivision section II – $172000


Jo Ann Dillen &amp; Mary Goldey – to Jo Ann Dillen &amp; Mary Goldey – lot 42 Estates of Osprey Cove – $1


As you can tell by looking at the Shelbyville homes for sale that sold and transfered this week, a majority of the homes are in the more conservative end of the spending market. There were no luxury homes sold this week as the most expensive property was $293000. Again, this would indicate a softening in the luxury Shelby county real estate market – and prices SHOULD come down. [How long it takes for persons to realize this is anyone's guess.] The tremendous glut of inventory on the market combined with weakening demand for living in Shelby County is basic Economics 101: excess Shelbyville Kentucky homes inventory + weakening demand = should equate to lower prices. Hopefully the Shelbyville Kentucky real estate market will start actually looking at the data – rather than just shooting from the gut, or worse – just listing the properties for whatever the home owner wants. Look at the data.
 ]]> </description>
            <pubDate>Fri, 02 Sep 2011 20:19:05 -0400</pubDate>
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            <guid>http://www.louisvillehomepros.com/blog/simpsonville-kentucky-is-now-equal-in-size-to-louisville.html</guid>
            <link>http://www.louisvillehomepros.com/blog/simpsonville-kentucky-is-now-equal-in-size-to-louisville.html</link>
            <author>office@louisvillehomepros.com (Jonathan Karlen)</author>
            <title>Simpsonville Kentucky is now equal in size to Louisville!</title>
            <description> <![CDATA[ Simpsonville Kentucky is now equal in size to Louisville!!

Gotcha. No, its not actually – but Simpsonville KY real estate did recently increase in size by 130 acres. At the Wednesday March 19, 2008 city commission meeting, it was approved unanimously by a score of 5 to 0 to annex some land to within its city limits that is currently owned by John Schnatter of Papa John’s Pizza fame. The annexation was requested by the real estate owner to prevent it from potentially being annexed into a proposed new city called Veechdale that is gaining some momentum within this community.


And now the city has plans to potentially acquire an additional 10 acres that is located on the southern portion of the I-64 interchange that is currently owned by James Walters, Elizabeth Settle, and Kitty Caudill as trustee of the Kitty Caudill revocable trust.


All of this was primarily stirred up when several persons within the community felt that the government officials that regulate zoning and land uses weren’t listening to their constituents concerns. The government officials adamantly maintain that they have and are listening to their concerns, and that all remarks have been addressed within their decision making process. At this most recent meeting, things were fairly level headed with some good questions regarding aesthetic concerns and potential architectural requirements of any new developments that may be considered on these tracts of real estate.


Regardless, this gives Simpsonville Kentucky a little more oomph so to speak as far as their city proximity and use around their community.


For those that are interested in finding out more information or even attending, the additional 10 acres proposed annexation is scheduled to receive approval or disapproval at the next meeting on April 1st, 2008 at 7:00 pm EST. For persons that may need a Realtor, please contact our Louisville RE/MAX team serving the entire region.
 ]]> </description>
            <pubDate>Fri, 02 Sep 2011 15:12:17 -0400</pubDate>
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        <item>
            <guid>http://www.louisvillehomepros.com/blog/shelby-county-kentucky-real-estate-transfers-week-ending-3-10-2008.html</guid>
            <link>http://www.louisvillehomepros.com/blog/shelby-county-kentucky-real-estate-transfers-week-ending-3-10-2008.html</link>
            <author>office@louisvillehomepros.com (Jonathan Karlen)</author>
            <title>Shelby County Kentucky Real Estate Transfers – week ending 3-10-2008</title>
            <description> <![CDATA[ As always, to keep our readers up to date on the latest happening in the metropolitan Louisville real estate market, we like to advise everyone of the real estate transfers that occur so they can keep track of whats happening in whatever areas that they may be interested.  This week, the Shelby County Kentucky real estate  transfers for week ending 3-10-2008 are as follows as published by The Sentinel News newspaper:

Regions Bank, Betty Lewis – to Union Planters Bank – lot 24 Benson Trace section 1 – $1


Taylor Bean and Whitaker Don and Leesa Bennett – to Secretary of Veterans’ Affairs – real estate on Orphan’s Lane – $1


Countrywide Home Loans Inc., Emily Prater – to Federal National Mortgage – lot in Mount Eden – $1


Wells Fargo Bank, Joseph &amp; Hilea Cash – to Federal home Loan Mortgage Corporation – lot 42, Charleston Section II – $1


Thomas Calvin Weakley Testamentary Trust -to John Shuck Jr. – real estate north of Elmburg Pike – $100000


Ronald Jarboe to 4 Play Shelby County Property LLC – Tract 3 Hyckliffe Manor – $1


Eqifirst Corporation, Amy Bolin – to HomeEq – lot 7 Arbor Green – $1


JTS Properties LLC – to James &amp; Theresa Smith – lots of Highland Manor – $1


Rebecca &amp; James Grant Jr – to Roberts Chandler &amp; Mary Gonda – lot 10 Foxwood Estates – $435000


Well, now that you can see the transfers, what does it mean?  It appears that most of the transfers were organizational/transitional/legal types of transactions.  Only 2 properties were for amounts greater than $1.  And of those 2 properties one was for 100 grand, and the other was for 435 grand.  This would indicate a slowing in the Shelbyville Kentucky real estate market, as even without checking, I’d wager that more than 2 homes were placed on the market in Shelby County that would offset those 2 transfers that happened.


The Spring housing market is rapidly approaching.  Overall, the metropolitan area Louisville real estate market has been improving.  Hopefully we’ll see better numbers in both volume and amounts in the next round of Shelby County Kentucky real estate transfers.
 ]]> </description>
            <pubDate>Fri, 02 Sep 2011 14:54:25 -0400</pubDate>
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            <guid>http://www.louisvillehomepros.com/blog/shelbyville-ky-real-estate-transfers-week-ending-january-18-2008.html</guid>
            <link>http://www.louisvillehomepros.com/blog/shelbyville-ky-real-estate-transfers-week-ending-january-18-2008.html</link>
            <author>office@louisvillehomepros.com (Jonathan Karlen)</author>
            <title>Shelbyville KY Real Estate Transfers week ending January 18 2008</title>
            <description> <![CDATA[ As always, for your convenience, please find the Shelbyville KY real estate transfers for week ending January 18 2008 as published by the Shelbyville KY newspaper, The Sentinel-News.  A few interesting points to note are that some of the luxury homes for sale in Louisville KY metropolitan area have started to move.  Several properties in the half million dollar plus range have sold this week.  Granted, most were horse farms for sale in Shelbyville Kentucky, but still its good to see some of the higher end properties beginning to break free from the Louisville real estate market.  Anyway, the Shelbyville KY real estate  transfers are as follows:

Tony &amp; Reida Kerr – to David &amp; Sheila Likes – tract 2 Catridge Acres – $70000


Winters Properties, LLC – to Heather Powell – tract 6 K Long Farm divided – $94900


April &amp; Troy Winfrey – to Carl &amp; Wendy Barker – tract on Jeptha Creek – $750000


Troy &amp; April Winfrey – to Carl &amp; Wendy Barker – property on Jeptha Creek – $213000


Gerald &amp; Mamie Spear – to Thomas &amp; Susan Harrington – tract 2 K Long Farm – $205000


Wells Fargo Bank – to Tammie Collins – property on Old US 60 – $61667


Wells Fargo Bank – to Nathan &amp; Jennifer Franklin – property on Old US60 – $40600


Jeffery Aizawa – to Kim Bundles – lot 165 Midland Estates section 8 – $143600


Titus &amp; Christine Riner – to Lizbeth Segovia &amp; John Lynge – lots of Gray Hill Manor – $126000


Deutsche Bank National Trust, Gregory Young, Tommi Young – to Deutsche Bank – property of Village View Subdivision – $1


Farmers Deposit Bank, Eminence – to Shelby County Library – property at 8th Street – $87500


Herbert &amp; Annette Toler – to Annette Toler – tract of Toler property – no consideration was noted


Glenn &amp; Paula McClain and Larry &amp; Beatrice McClain – to Glenn McClain – tract of Shelby County KY – no consideration was noted


Heidi &amp; Jon Tingle – to J. Paul &amp; Sarah Keith – tracts of Henry county and Shelby County KY – $2500000


Donald &amp; Nancy Lorenz – to Scott &amp; Nancy Dubois – lot 76 Indian Springs – $86000


John Schickel, U.S. Marshal – to Gary &amp; Carole Helbig – lot 39 Arbor Green – $52000


General Land Development Corporation – to Helio Moreira – lot 73 Todds Station Subdivision phase 1 – $152900


Donald Hamilton Inc – to David &amp; Martha Fuqua – lot 47 Meadowbrook Section III Phase II – $174500


Genevieve &amp; Terry Lacer, National City Bank trustee – to Mark Riddle  – Tract 3 Baird Farms divided – $450000


Playball Properties LLC – to Chris Allex – property in Harrisonville – $70000


Hosanna Properties LLC – to Whistling Waves LLC – property south of Main Street in Shelbyville KY – $850000


City of Shelbyville – to Calvin Walker – tract at 10th &amp; Clay Streets – consideration but was not noted the amount in the record


Belvia Sizemore – to Roger Nalley – lot 329 Block 2 Trailwood Lakes Inc – $1


Frank Patrick &amp; Theresa Hargadon – to Joe &amp; Jennifer Franklin – tract 7 Garrett Farm divided – $366000


Wilma Snider Estate – Rodney &amp; Mary Lu Dempsey – lot 9 Bonnie Brae Addition – $117700


Richard &amp; Jutta Linhart – to Prudential Relocation Inc. – parcels of Gravett Farm – $570000


Prudential Relocation Inc. – to C.A. Dodd &amp; K.C. Nethery – parcels of Gravett Garm – $570000


Dale Senior &amp; Carroll Santana – to Paul &amp; Susan LaCroix – tract 37 Majestic Oaks section 2 – $147000


PBI Bank Inc. – to Wood Properties LLC – lot 19 Bridlewood Estates section 1 – $28000


PBI Bank Inc. – to Wood Properties LLC – lot 21 Bridlewood Estates section 1 – $28000


Partridge Run Associates LLC – to Knobview Partners LLC – lot 117 Partridge Run section 3 – $44000


JMD Properties LLC – to Arbor View Homes LLC – lot 192 – Bridlewood Estates section 3 – $32500


Partridge Run Associates LLC – to Knobview partners LLC – lot 130 Partridge Run section 3 – $45000


Steve &amp; Nancy Dunham – to Tommy &amp; Pamela Cypert – tract 1A The Paddocks – $300000
 ]]> </description>
            <pubDate>Fri, 02 Sep 2011 12:04:08 -0400</pubDate>
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            <guid>http://www.louisvillehomepros.com/blog/shelbyville-kentucky-real-estate-transfers-week-ending-january-7-2008.html</guid>
            <link>http://www.louisvillehomepros.com/blog/shelbyville-kentucky-real-estate-transfers-week-ending-january-7-2008.html</link>
            <author>office@louisvillehomepros.com (Jonathan Karlen)</author>
            <title>Shelbyville Kentucky Real Estate Transfers week ending January 7 2008</title>
            <description> <![CDATA[ As usual, we are posting this update of real estate deeds and transfers that were posted for the metropolitan Louisville real estate market.  The following are the transfers include transfers for Simpsonville, Shelby County KY, and Shelbyville Kentucky real estate:

Fremont Investment &amp; Loan through Countrywide Homes Inc – to HSBC Bank USA NA – Lot 55 Cloverbrook Farms Phase 1 Section 1 – $1


Deutsche Bank, Franchella Gray, Ireesha Gray, et.al. – to Deustche Bank – lot 137 Cloverbrook Farms phase 1 section 1 – $1


MAC Mortgage, Marcus Deane – to GMAC Mortgage – lot 9 Rolling Ridge subdivision phase 1 – $1


Citimortgage Inc, Bonita Ashby, Benjamin Ashby – to Citimortgage Inc – lot 35 Glenview Estates – $1


Randall &amp; Anya Carnes – to R. L. Judy Turner – tract 3 High Field – $210000


Miguel &amp; Gabriela Agulera – Mary Ecken – tract 3 Rothenburger Farm divided – $69000


Faulkner-Hinton / Fairway Links Patio Homes LLC – to Theodore &amp; Ann Kuhn – Lot 13A Fairway Crossing – $225083


Betty Case executrix – to Stephen &amp; Rhonda Bradley – lots of Fieldstone acres #2 – $119000


Stacy Morrison – to Michele Schumitsch – lot 69 Midland Estates section 3 – $117000


Robert Chenault &amp; Sandra Chenault – to David &amp; Emilie Meek – tract 1 Elsey Beal Property – $143400


Lilian Sarmiento – Lilian Sarmiento – Lot 15 section Oakwood Subdivision – nominal consideration


Eddie &amp; Carolyn Walters – to Knobview Partners LLC – lot 26 Magnolia Place section 1 – $31000


Mark &amp; Kim Coleman – to Marlane Robinson – lot 9 Fry Property divided – $223000


Jeff Hulker &amp; Timmy Hulker – to Keith Botkins – property on Bardstown Trail – $6500


Duvall &amp; Judy Burk – to Burk Properties LLC – tract 3 Burk Farm – $10


Scott &amp; Mary Elizabeth McClain – to Vicki Myatt – tracts of Shelby County – $235000


Diane &amp; Roger Schott – to Diane &amp; Roger Schott – property on Aiken Road – consideration


A. R. Matthews Company Inc. – to Robert Jr. &amp; Patricia Houk – property on LaMaster Road – $47000


Jessica Tennill – to Sharon Everly – property on KY 1055 – $77800


Dennis &amp; Janeen Mengert – to Joseph &amp; Terri Barber – tract 1 First Farm divided – $235000


Citizens Union Bank &amp; Jesus Hernandez – to Citizens Union Bank – lots of Beckham Addition – $1


Donald Hamilton Inc – to Martha Flood – unit 301C Town N Country section XI – $203000


Ben Jr. &amp; Emily Thomas – to Chenoweth Springs Two – West End series tract 1, Thomas Farm – $1


Al Bennet Builders Inc. – to David Hardin &amp; Bobbi Wills – lot 51 Fairway Crossing section 3 – $277000


Hopefully, you will find this information useful to keep yourselves up to speed on the metropolitan Louisville real estate market.  As you can see, right now the Shelbyville Kentucky real estate market represents most properties that are under $300,000 of value or less are the ones that are currently selling and moving in today’s market.  The larger tracts of real estate are simply taking a longer period of time, but should start moving again relatively well once the Spring housing market gets here.
 ]]> </description>
            <pubDate>Fri, 02 Sep 2011 12:00:43 -0400</pubDate>
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            <guid>http://www.louisvillehomepros.com/blog/louisville-ky-real-estate-market-review-of-2007.html</guid>
            <link>http://www.louisvillehomepros.com/blog/louisville-ky-real-estate-market-review-of-2007.html</link>
            <author>office@louisvillehomepros.com (Jonathan Karlen)</author>
            <title>Louisville KY Real Estate Market – Review of 2007</title>
            <description> <![CDATA[ If you just read the national reports on how the real estate and homes market is faring across the USA, its mostly doom and gloom.  A record number of foreclosures, squeezing by the mortgage industry and tightening of credit along with the market falling in many real estate markets, has consumers believing that its a national pandemic for real estate right now.  Nationally, there was a decline in new home sales of 9% in November 2007.  Home sales overall are down 20%.  And the median sales price for home values has decreased by 3.3% from just a year earlier in 2006 with the home values median price being $210,000 for November 2007.

That being said, many of the markets that are seeing “hard times” currently – are the same ones that saw 30% appreciation PER YEAR or more for literally years.  Consumers started leveraging themselves buying as much home as they could possibly get into – on the theory that they didn’t need equity to get in, because the real estate values were increasing so fast, that they would have equity in the property in a few months just from appreciation.


The big thing to remember is that real estate is local.  And while the Louisville KY real estate market is not completely immune from the real estate downturns that you are seeing unfold in many other parts of the country, we have not had the same rates of sky rocketing appreciation that they did.  This has resulted in the Louisville KY real estate market being stable with consistent, but conservative growth.


To cite one market in the Louisville real estate metropolitan area, is Shelby County Kentucky.  In 2005, the average sale price for a home was $191,500.  For 2007, the average is over $199,000.


While not amazing growth on appreciation, it is moving in a positive direction.  And the rate of increase should continue upward.  Right now, the biggest limiting factor for our market is probably the amount of inventory out there.  For 2005, 354 properties were on the market that went unsold.  For 2007, we closed the year with 520 properties on the market that went unsold.


But, as the market moves along, we should start seeing that number decline somewhat.  The national economy does play a larger role on real estate developers, construction and new homes for sale in Louisville KY.  Keeping with our example of Shelby County KY real estate, the amount of permits that were issues for family dwellings (which includes everything from single family residential homes, all the way to apartments), was only 289 for 2007.  That figure represents an approximate 28% decrease from 2006 for permits that were issued by the Triple S Planning and Zoning commission.  And is substantially lower than the all time high of 657 that were issued in 2004.


The Louisville real estate market remains poised for some extremely strong growth in 2008.  Estimates for potential appreciation range from 5% – 17% for this year.  If you are considering making a real estate purchase, or just looking to move up from existing home to something larger and more expensive – NOW is the time to do it.  The average consumer still has the perception that the market is soft, and with inventory being high, there are some motivated sellers out there that may be willing to cut a real deal to get out from under their home.  Add in the continuing currently low interest rates for financing available, and there is a real opportunity for investors, and even individual home owners to pick up some real deals.


Look at this way, even if you have to lower your price on your cheaper home by X% – you can make up for it by purchasing a more expensive home, because X% of a low price is always going to be less than X% of a higher price.  Just using some made up numbers so you understand what I’m saying:


Lets say you have a $300,000 home currently.  You want to buy a $600,000 home.  Real estate values are down 3% (they aren’t, but play along with me).  This means that 3% off the $300,000 home is 9 grand that you are discounting to get it to move in today’s market.  BUT, you also pick it up on the other end:  3% off a $600,000 home is 18 grand.  So you make a net of 9 grand by moving up (18 grand – 9 grand = 9 grand).


And that doesn’t even take into account that in general, the more expensive homes are having a harder time selling.  This means that there is even more potential opportunities to negotiate strong and pick up a deal and get even a larger discount from the market value that the home is going to be worth in a few months as the local Louisville real estate market starts picking up and consumers become aware of the momentum.


And even if you don’t want to sell your existing home – its still a good time to buy.  Many Louisville real estate investors are having a hard time carrying their debt load and are having to unload their properties just to get out from under their debt service and monthly mortgage payments.  Many renters have been able to get out of renting and have been able to get into their own home due to the low interest rates and various government programs and incentives that are out there.


I know what your first thought is going to be immediately:  Well, if investors are going to have to get out from under their debt service, why would I want to buy something thats not doing very well right now anyway?


The answer to that is obviously easy – and allow me to use an example.  When do you want to buy stock in the stock market?  Do you want to buy when everyone is selling?  or Do you want to buy when everyone is buying?


Obviously, you want to buy stock in the stock market when everyone is selling.  This means you are getting the lower purchase costs due to everyone else’s desire to sell.  If you wait until everyone is buying, you’ll be caught up in the same momentum as everyone else, and end up overpaying for your stock.


Basically:  you want to be doing the OPPOSITE of what everyone else is doing to make money.  You want to buy when everyone is selling.  And you want to sell when everyone is buying.


The same exact principle applies in real estate.  Right now, the perception is that the market is soft, and that values are down and you need to just get what you can out of a deal to get out from under the mortgage payment.


This is exactly the opposite of what should be happening.


You should be buying, buying, buying.  And buying some more.


The real estate market will change.  All indicators and predictions for the Louisville real estate market indicate that Louisville Kentucky is poised for strong growth and appreciation for its market.


And Mr. Greenspan has already predicted that within a few years, interest rates will be hitting double digits within a few years.


So, what does that mean?  That means that all those persons that have purchased their own homes will be feeling the crunch from rising interest rates on their adjustable rate mortgages, and they will need to get out of those homes and go back to renting.


So, you can buy a home now for a heavy discount.  Lock in a low interest rate.  Gain appreciation for the home thats expected to happen this year in 2008.  And then if you are so inclined, rent it out for a hefty some above what you would normally expect to get (due to supply and demand) to get even more money and equity out of the property.


Additionally, demand for land and Kentucky horse farms for sale have risen sharply.  Part of the reason for the increased demand has been the Kentucky Breeders Incentives.  These incentives have stimulated a tremendous amount of interest from many horse farms owners across the country to want to relocate to Kentucky so that they can participate in the Kentucky Breeder Incentives program.  This is leading toward increased demand for land, acreage, and farms in KY.  And if you add in the excitement surrounding the World Equestrian Games to be hosted in Lexington Kentucky in 2010, the demand for horse farms between Louisville and Lexington KY has increased remarkably.  Persons are looking for both places to rent for their horses during the event, as well as some are purchasing horse farms for their use in putting in a satellite operation from their main farm wherever they may be.


Anyway you slice it, the Louisville KY real estate market is shaping up for an exciting time in 2008.  Don’t miss out!
 ]]> </description>
            <pubDate>Fri, 02 Sep 2011 11:57:44 -0400</pubDate>
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            <guid>http://www.louisvillehomepros.com/blog/louisville-real-estate-transfers-week-ending-january-11-2008.html</guid>
            <link>http://www.louisvillehomepros.com/blog/louisville-real-estate-transfers-week-ending-january-11-2008.html</link>
            <author>office@louisvillehomepros.com (Jonathan Karlen)</author>
            <title>Louisville Real Estate transfers week ending January 11 2008</title>
            <description> <![CDATA[ As we always do, for your convenience, the following are the Louisville real estate metropolitan area transfers for week ending January 11, 2008 for Shelbyville Kentucky as reported by The Sentinel-News:

Larry Cornwell – to Larry &amp; Helga Cornwell – Tract 9 Agricultural Division Zenger Farm North divided – no consideration was noted


Norman &amp; Barbara Allgeier – to Ellis &amp; Lydia Lutes – tract 2C Elza Raisor Farm tract 2 redivided – no consideration was noted


Ellis &amp; Lydia Lutes – to Norman &amp; Barbara Allgeier – tract 6 agricultural division High Field – no consideration was noted


J. I. L. Development Co. Inc. – to John &amp; Kara Owens – lot 49 Magnolia Place section II – $227000


Kenneth &amp; Susan Yeager – to James Tucker &amp; Jeremy Tucker – Tract 1A Duvall Burk Farms – $110000


Freddie &amp; Sharon Hamilton – to Alfredo Melgar-Dubon – real estate east of Johnsonville Lane – $130000


Farmers Deposit Bank – to Patricia Kallin – tract 3 @ Cropper Mulberry Pike -$46500


Federal Home Loan Mortgage Corporation – to Doug Aldridge Enterprises Inc. – real estate in Mt. Eden  – $42500


Woodfield Inc – to Donald Hamilton Inc. – lot 83 Meadowbrook section III phase II – $26000


Matthew &amp; Rebecca Anderson – to Jerry &amp; Reisha Toby – tract 1 Parent Lane – $200000


Keith &amp; Stephanie Watkins – to Brian Wigglesworth tract 26 Brittany Estates – $110000


Lois Turner – to Jerry &amp; Bobby Terhune – real estate on Finchville Olive Branch Road – $16000


Sandra Nichols &amp; Sue Brooks acting as cotrustees – to Sandra Nichols &amp; Sue Brooks – real estate in Bagdad Kentucky – consideration was given, but not specifically noted


Jason &amp; Stacy Broyles – Robert Jr. &amp; Dianna Van Meter – lot 99 Weissinger Estates section III – $313500


Stephen &amp; Donna Meador – to Stephen &amp; Donna Meador – real estate in Shelby County KY – no consideration was noted


Stephen &amp; Donna Meador – to Stephen &amp; Donna Meador – lot 9 Harrington Mill Estates – nominal consideration


Robert III &amp; Holly Crady – to Thomas &amp; Stacie Rockaway – lot 38 Brentwood Unit III – $332000


Janet &amp; William Cravens – to Heiko Adama &amp; Diana Jackson-Adams – lot 97 Brentwood – $390000


Joan Ryan through attorney in fact to The Ryan Family Limited Partnership – tract 19 agricultural division A. V. B. Farm – $1


Ermin Herrick – to Eve Properties limited partnership – real estate tracts of lots of Catalpa Court – $1


Ermin Herrick – to Eve Properties limited partnership – tract 1 Webb &amp; Howard development – $1


William &amp; Margaret Stone – to William &amp; Patricia Jones – tract 3 Mudd Farm divided – consideration but without a specific amount being noted


Michael Sutherland – to Joshua McRay – real estate located at Pearidge Road – $116350


Jagoe Land Corporation – to Jagoe Homes Inc. – lot 73 Meadow Glen – $26000


Jagoe Homes Inc.  – to Mary Hutcherson – lot 73 Meadow Glen – $150500


James &amp; Lorraine Stivers – to Chester &amp;Maria Stivers – real estate located in Lanter addition – $1


Adwek Homes LLC – to Christopher &amp; Rachael Hall – lot 100 Todds Station phase II – $254450


May Pike – to Jorita LLC – real estate in Shelby County KY – nominal consideration was noted


Jay Hospitality Inc. – to Shri Sai Hospitality Inc – real estate located east of KY 55 – $940000


Victory Baptist Church – to Ronald &amp; Charlotte Haydon – real estate NW of 5th Street in Shelbyville Kentucky – $4000


Lee Ethington – to Dane &amp; Adonya Anderson – lot 131 Patridge Run  section III – $258500


John &amp; Doris Straub – to John &amp; Doris Straub, trustees – lot 7 Cox &amp; Fletcher Farms – consideration amount was not noted


Amos Martin Construction Company Inc. – to Roger &amp; Rebecca Adkins – unit 11B building 11 Villas at Persimmon Ridge Condominiums – $439188.84


Hopefully you will find the above useful.  One observation to note of interest was that the most expensive property is the last on the list that sold.  Inventory for the Louisville real estate market overall has declined with some 9800 homes approximately on the market available for sale.  But based on this limited data pool of most recent sales, it appears that the homes that are actually selling in the Louisville real estate market are the ones priced below half a million dollars.  This would indicate a potential softening of the upper valued homes and you can probably expect to see property listing prices beginning to decline for that segment of the Louisville KY market at least for the short term.


Bearing in mind that a great many of the homes that were for sale that dropped the inventory from a near 11000 mark a short time ago – probably didn’t sell, they were just expired or pulled from the market during the holidays.


So, we will need to keep a close eye on the real estate market to see if those homes start coming back on the market for sale – particularly as we get closer to the Spring housing rush that is normal each year.  Most persons are expecting Louisville to fare better than a lot of other markets and even the board of REALTORs projections indicate that our REMAX Louisville office should be quite busy with activity in March and April 2008.
 ]]> </description>
            <pubDate>Fri, 02 Sep 2011 11:53:16 -0400</pubDate>
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