Louisville Homes Blog: #1 Real Estate Blog in Louisville, KY

Renters Beware, Smugglers Pay Cash

Dec 24, 2007 Commercial

Read this scary AP story in the Courier-Journal.

The renters were fronts for immigrant smugglers who used the house as a hiding place for illegal immigrants and trashed the home. In October, a SWAT team drove an armored personnel carrier onto the lawn and raided the house, rounding up nearly two dozen people.

Sure, it takes place in Phoenix but it could very easily happen here in Louisville so when evaluating a potential renter, make sure you complete your due diligence. Better to take more time now than be sorry later.

Creative Wii Promotion Boots Real Estate Promotion

Dec 16, 2007 Marketing

One of the prime tenants of marketing is to make your product or service “stand out from the crowd.” So, when you hear about an opportunity to buy a hard-to-find Wii video game console and get a house thrown in for “free”… that’s something to check out, right?

I wager that this homeowner is getting more attention for his North Carolina house than are the other listings in his area. This kind of creative thinking can help people here in Louisville sell their homes as well!

Predictions Improve for Louisville Housing in ‘08

Dec 12, 2007 News

Found this little piece of news that points to better times ahead in the coming year.

Realtors Group Sees Slight ‘08 Rebound

Bucking conventional wisdom, a trade group for real estate agents said yesterday the battered housing market is on the verge of stabilizing and inched-up its outlook for 2008 home sales. The revised monthly forecast from the National Association of Realtors, which followed nine straight months of downward revisions, forecasts sales will rise slightly in 2008 to 5.7 million, up from last month’s prediction of 5.69 million. The group also said the median price for U.S. existing homes will sink by 1.9 percent to $217,600 this year and rise 0.3 percent next year to $218,300. If median prices do fall this year, it will be the first price decline in the nearly 40 years that the trade group has tracked that data. [link]

Rate Freeze Possible, Louisville Foreclosures Down

Dec 6, 2007 News, Residential

If you have an adjustable rate mortgage that is expecting to rise next year, you’ll certainly want to check with your lender because news out of Washington says the Bush administration is trying to provide some relief.

Elements of the plan include a five-year freeze on interest rates for certain subprime loans, many of which are expected to reset to higher rates in the months ahead. [link]

Good news in light of what some think are troubling times for the housing market. Here in Louisville, foreclosure filings are actually down from 2Q 2007 and 3Q 2006.

This is exceptional news when you consider that Bethesda, MD is up 1640.7 over their 3rd quarter 2006 numbers.

November 2007 Home Sales in Louisville, KY

Dec 5, 2007 Residential, Trends/Statistics

Number of sales is down from October but average prices are up. Let us know how helpful this information is to you.

November 2007

Source: MetroSearch, Inc.

Canfield Developing Upscale Maintenance-Free Homes in Louisville

Dec 1, 2007 Commercial

Canfield Development has certainly been busy lately, with projects like Beech Spring Farm and Wolf Pen Springs. Now, it looks like they’re getting into upscale, maintenance-free living with the tricky to remember names of Spring Farm Glen, Spring Farm Pointe, and Spring Farm Place. These related developments are also near Wolf Pen Branch Rd. which only adds to the naming confusion.

But once you understand which community is which, this area of Prospect is certainly desirable and has more than 150 high-end properties currently for sale.

The result is Spring Farm Glen, a 16-lot development that will offer homes ranging in price from $750,000 to more than $1 million.

Construction is just beginning in Spring Farm Glen with the other subdivisions starting early 2008.