Today, President Bush signed the recently-passed housing legislation (H.R. 3221) into law. This first-time homebuyer tax credit is now in effect. What does that mean for first-time homebuyers here in Louisville, Kentucky? I'm glad you asked! FEATURE H.R. 3221 - Housing and Economic Recovery Act of 2008 Amount of Credit Ten percent of cost of home, not to exceed $7500 Eligible Property Any single-family residence (including condos, co]ops) that will be used as a principal residence. Refundable Yes. Reduces income tax liability for the year of purchase. Cla

I'm not the only one bragging about Louisville real estate these days. It looks like the editors over at This Old House recognize the charm and value in our old Kentucky homes (pun intended). They recently named Old Louisville, Kentucky one of the Top 12 Best Places to Buy and Old House. Stately homes face one another across lush, gaslit "walking courts," and yards overflow with geraniums and magnolia trees here. Residents treat gardening like a competitive sport, their efforts celebrated by seasonal garden tours. Central Park, a 17-acre municipal green space designed by famed archit

Panic causes people to do irrational things. Just because one bank fails, doesn't mean your bank is going to fail? Tell that to all those who sold shares of any and every bank stock they owned when they heard about a bank in California that was going under. (Why is it always California?) Now would be an excellent time for investors to buy shares of these now wonderful values. Here in Louisville, banks are less likely to go after riskier prospects like the whole sub-prime debacle, so they're in a better position to weather the cyclical downturns that are part of doing business. All I

Waterfront Park Place is home to some of our cities most expensive homes, which have sold better than many thought possible. News outlets can continue to decry the housing market but Louisville isn't behaving like other metro areas in many respects. Take, for instance, the upper echelon of properties in our city. This piece by Alex Davis highlights the idea that many Realtors have known for some time. Namely, that with the enormous size of the aging boomer population there's a great opportunity for developers with high-end condos and patio homes that require little to no work by the h

Much better numbers for June in almost all areas. Compare with May 2008 Home Sales in Louisville, KY if you like. I'm thinking about revising the way I display this data in the coming months, so if you have any suggestions, please feel free to contact me. June 2008 AREA SALES AVERAGE DoM 0 Central Downtown District 6 $165,217 86 1 Downtwn/Old&WestLouisville/Shively 55 $59,265 77 2 Butchertown/Highlands/Germantwn 83 $210,421 73 3 Brownsboro/StMatthews 59 $279,449 69 4 Pleasure Rdg/Valley Station 64 $

Here's a quick blurb, albeit an important one, that I found in Business First recently. Although fundamentals are expected to soften this year because of the slowing economy, the Louisville retail market is well positioned for long-term health (emphasis mine), according to a second-quarter Retail Research Report by Marcus & Millichap, one of the nation's largest real estate investment-services firm. It may not be news specific to the Louisville housing market, but job growth is key to most facets of an economy. This is very positive news.