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Abramson Talks Home Prices

Nov 30, 2007 Commercial

Louisville’s “mayor for life” (as Terry Meiners likes to call him) discusses economic losses on CNBC.

Best Louisville Neighborhoods: Hillcrest

Nov 27, 2007 Neighborhoods

Hillcrest, like Sutherland, is one of Louisville’s larger high-end neighborhoods. Located just across the Oldham Co. line on Highway 42, Hillcrest boasts some large lots, rolling hills and some amazing homes. It’s also very close to the Goshen at Hillcrest elementary school which is great for families with small children. Read More »

Tags: best louisville neighborhoods, Hillcrest, louisville ky

Appraisers In the Hot Seat

Nov 26, 2007 Commercial

New York’s Attourney General has filed a lawsuit against First American Corporation for fraud. The claim says the company allowed its largest customer to influence their appraisal estimates. This problem is certainly not new but it could be increasing.

The pressure to inflate property values, may be rising. The article cites a survey of 1,200 real-estate appraisers released this year, 90% reported being pressured by real-estate agents, lenders, mortgage brokers and consumers to adjust property values in order to allow deals to go through, up from 55% in 2003, according to October Research Corp., based in Richfield, Ohio. In addition, 75% of them reported “negative ramifications” from refusing to inflate appraisals, which for most of the appraiser meant losing the client. [link]

It’s always a good idea to check and see if your appraiser is in good standing with the Better Business Bureau.

Best Louisville Neighborhoods: Sutherland

Nov 25, 2007 Neighborhoods

Sutherland is a very prestigeious neighborhood in Louisville’s east end, in the city of Prospect. Just east of the Gene Sndyer freeway on Highway 42, Sutherland has a lot to offer a high-end buyer. Homes here are both large and gorgeous and the signature stone bridge entrance passes over a multi-segmented lake complete with fountains. Sutherland is certainly worth your time to tour. Read More »

Tags: best louisville neighborhoods, louisville ky, sutherland

Glass Is Half Empty Concerning Housing Market

Nov 21, 2007 Trends/Statistics

It’s difficult to digest the seemingly never-ending stream of negative press that comes from the national media regarding the housing market. To make matters worse, this is a situation where perception affects reality. If you “think” the market is down it affects how you respond to a buying or selling decision. It’s a cycle. The more negative press that’s being generated, the more negative things shall go.

Here in Louisville, it’s not as bad as all that. Mr. Coomes is spot on.

“This is not a boom place. And we have not had the speculative bubble here, and so therefore, we’re not having the bust,” said U of L economist Paul Coomes.

That’s correct, but here’s a vital piece of the puzzle that goes practically unreported. People who don’t have a property to sell have an amazing opportunity to buy at a very good price. Just because the market is tough on sellers, doesn’t it stand to reason that’s it’s good for buyers?

I certainly believe so. Here in Louisville, I see some properties that are significantly below assessed value which are bargain buys for the right person. Talk about Black Friday. Why aren’t we hearing about this side of the story? Unfortunately, I think I already know the answer to that.

Best Louisville Neighborhoods: GlenOaks

Nov 20, 2007 Neighborhoods

GlenOaks is located in a gorgeous part of Louisville in the northeast part of Jefferson County and even spills over into Oldham County. Just east of The Villages of Springhurst, GlenOaks is across the newly developing Norton Commons—a community that’s sparking interest all over the city. Read More »

Tags: best louisville neighborhoods, GlenOaks, louisville ky

‘Extreme Makeover’ Building Special Home in Louisville, KY

Nov 10, 2007 News, Residential

ABC’s heart-warming show Extreme Makeover: Home Edition, has come to Louisville and is now running on all cylinders to get the job done.

Louisville’s Patrick Henry, despite being born without eyes is living beyond most people’s expectations. Now the family’s home, near Buechel Bank Road is getting the special treatment in order to provide a better situation for Patrick and his family.

The reveal is set for Wednesday.

October 2007 Home Sales in Louisville, KY

Nov 9, 2007 Residential, Trends/Statistics

When compared with September numbers, it looks like everything is higher—Sales, Avg. Price and Days on Market. Let us know how helpful this information is to you.

October 2007

Source: MetroSearch, Inc.