Best Louisville Neighborhoods: Brownsboro Farm
Jun 28, 2007 Neighborhoods
Brownsboro Farm is a small neighborhood off Highway 22 near Barbourmeade, Manor Creek and Ten Broeck subdivisions in Louisville’s east end. Homes are approximately 20-40 years old and are comprised primarily of traditional, roomy two-story designs. Prices are quite reasonable for homes in this area when compared to similar homes in other parts of the city, for example, Douglass Hills. Read More »
Tags: best louisville neighborhoods, brownsboro farm, louisville ky
Appraisers In the Hot Seat
Jun 27, 2007 News
Here’s an interesting piece on Money.com about how real estate appraisers are in a crunch from both brokers and home buyers. This issue isn’t as prevalent here in Louisville where values have been slowing increasing but in parts of the country that saw big changes it’s a big problem.
There may come a time when more government regulation becomes necessary but the first step is opening up the flow of information so that all parties can see how these numbers are being determined. As we are, proceed with caution.
High Tech Toys Entice Homebuyers in Louisville
Jun 27, 2007 Residential
There is so much that goes into a home buying decision. With Homearama 2007 starting in just a few short weeks, I know many people (hey guys… this means you!) are thinking about new home theater options or another cool technology that you might want to incorporate into your home.
Amy Hoack has put together a nice little piece called Top High-Tech Toys for Hip Homeowners. The article lists the “top 10 ‘must have’ technology trends for homes at the recent International Builders’ Show in Orlando, Fla.” Great stuff! It’s also good to know that as certain technologies become more mainstream prices drop, which is great for consumers.
Here in Louisville, many consider Ovation our local experts in the field of audio/video solutions for your home. I’m sure they’ll have a healthy presence at this year’s Homearama. BestBuy, Circuit City and hhgregg are also great places to shop and compare prices for home electronics.
Best Louisville Neighborhoods: Douglass Hills
Jun 26, 2007 Neighborhoods
Douglass Hills is one of Louisville’s larger true subdivisions. It’s located in the area known as Middletown, just east of Hurstbourne. Homes are generally consistent in size and design. Most of these homes were built during the 1970s. Read More »
Tags: best louisville neighborhoods, Douglass Hills, louisville ky
New Home Numbers Up in Louisville
Jun 21, 2007 Residential, Trends/Statistics
Louisville generally doesn’t experience the highest highs nor the lowest lows, which generally makes for a more sane situation. On the housing front, today we learn:
Building permits for one- and two-family homes were up 10 percent in the Louisville metro area last month compared with May 2006, according to city records. The Home Builders Association of Louisville reported that the increase held up in surrounding counties as well. [link]
Sure, inventory is still quite high but builders are now working more new home starts because they expect an increase in the number of buyers over the next 12 months.
David Seiders, the national home builder’s chief economist, isn’t convinced and expects sales to drop even further nationally. What this basically says is that the “risky” lending practices that are hurting so many borrowers nationwide, aren’t snagging as many here in Louisville. And that’s good news for us!
Second Home Is a Dream for Many
Jun 20, 2007 Residential, Trends/Statistics
It’s not just the wealthy who are buying second homes anymore. More and more baby boomers are working towards having a second home ready and waiting for their retirement years.
“The demand for second homes is big and growing,” said Joseph H. Badal, president and chief executive of Thornburg Mortgage in Santa Fe, N.M. “Baby boomers are feeding the second home buying now, and young families are also in the market.”
With rates being at such affordable levels, a second home isn’t out of the question for millions of Americans. But again, it’s about planning, setting a budget and then living by it.
The Realtors said the typical vacation home buyer was 44 years old, came from a household with a median annual income of $102,000 and purchased a property that was about 215 miles from his or her primary residence. Nearly 80 percent of buyers said they wanted to use their second homes for vacations or as family retreats, while nearly 30 percent saw their second homes as a primary residence in the future.
Urban Renewal Is Hot in Louisville
Jun 17, 2007 Residential
As I posted last week, true urban renewal is generally done for the greater good of the surrounding area. However, it can also be successful financially, at least if it’s done correctly. Here’s another CJ article highlighting the benefits of the concept. A commenter suggests they are referring to the Liberty Green project, where homes start at $180,000.
While I don’t agree with much of what the authors suggest, I will say that if the project offers the proper incentives for the end users, in this case the homeowners, reworking old property into new can be done quite successfully. Why? It’s the answer to, “What are the three most important attributes of real estate?” Location, location and location.
Habitat in Louisville Is ‘On a Roll’
Jun 13, 2007 News
Habitat has sure been in the news a lot lately. Today we find out that the Marcus family has donated a 20-acre plot to the charitable home builder. Big thumbs up to the family for being so generous.
You can follow this link to see the Lake Louisvilla area on Google Maps. It’s located off Highway 22 past the Gene Snyder Freeway.
Quick Hits in the Louisville Housing Market
Jun 10, 2007 News, Residential, Trends/Statistics
There’s so much to cover, rather than devote a post to each topic I thought I’d hit them all at once—bullet style. Let’s go!
- New-home sales skyrocket in April
“Builder optimism is much higher now than it was at the end of February.” I should think so! - Existing-home sales, prices decline
Free market forces are forcing sellers to bring down prices to accommodate the large number of available homes. - Aslan Recognized in Affordable Housing Finance’s “Top 50â€
This Louisville-based development firm is turning some heads as they focus on “affordable housing projects” in the Southeast. This sector is often ignored because of the lower margins. - Habitat for Humanity due award
The Louisville chapter has built 250 homes since it began. That’s incredible! - Urban areas see biggest gains in property value
City planners understand about all the benefits of urban renewal, but I wonder if they knew that it could also be so profitable? - Habitat to seek new areas for its homes
In my opinion, Louisville homebuyers are looking for more low-end housing choices and, as you might guess, that is Habitat’s specialty.
Best Louisville Neighborhoods: The Woods of St. Thomas
Jun 9, 2007 Neighborhoods
The Woods of St. Thomas is a neighborhood that began development in the mid 1980s near the intersection of Highways 42 and 22 in a beautiful part of Louisville’s East End. This higher-end subdivision is in a very convenient location near expressways, the Holiday Manor shopping center and other neighborhoods, Old Brownsboro Place and Thornhill being nearby.
The Woods of St. Thomas includes an estate section with even larger lots and homes.
Tags: best louisville neighborhoods, louisville ky, the woods of st. thomas
Best Louisville Neighborhoods: City of Hurstbourne
Jun 5, 2007 Neighborhoods
There’s a lot more to Hurstbourne than the subdivision of single-family homes that bears its name. It encompasses a large area, bounded by Hurstbourne Parkway on the east, that includes housing, shopping, and entertainment. Similar to Plainview that’s located nearby, Hurstbourne is a prestigious part of Louisville with a great reputation.
A few homes, like the one pictured above, are quite large and back up to a beautiful golf course. Hurstbourne Country Club is a private club in the heart of Louisville’s desirable East End.
Tags: best louisville neighborhoods, Hurstbourne, louisville ky
Top 15 Home Updates Return on Investment
Jun 1, 2007 Residential
Here’s another look at the topic I wrote about last month—Comparing Home Improvements in Louisville with the Nation—but from the perspective of HGTV.
According to their research, a Minor Bathroom Remodel will return 102% on average, and earns the top spot in their rankings.
If anyone you know is considering a home improvement project (and who am I kidding… aren’t we all?) make sure to let them know about this information. Here at Louisville Homes Blog, we’re making an effort to provide valuable information and advice for all homeowners, even if you’re not ready to sell at this moment. Our family is now in our third home, so we’ve walked in your shoes and well understand the challenges you face!
