Louisville Sees Home Sales Increase
Aug 28, 2009 News
Things are certainly picking up this summer. Whether they will continue to move upward through the Fall/Winter remains to be seen but come next Spring I expect a large number of new listings.
WAVE3’s Connie Leonard has an article titled, Louisville realtors and builders encouraged by surge in home sales, up on their site. Here’s a snippet:
Louisville realtors and home builders are cautiously optimistic right now. That’s because for the fourth consecutive month, the volume of re-sales and new home sales is growing faster than most economists predicted.
Very promising data for everyone but home buyers, who might soon be missing the opportunity to take advantage of these reduced home prices.
Tags: Connie Leonard, louisville ky
First-Time Homebuyer’s Tax Credit Questions Answered
Aug 26, 2009 News, Residential
If all these tax credits are confusing you, never fear! Here’s a simple, easy-to-understand source to make it all clear.
In 2008, Congress enacted a $7,500 tax credit designed to be an incentive for first-time homebuyers to purchase a home. The credit was designed as a mechanism to decrease the over-supply of homes for sale.
For 2009, Congress has increased the credit to $8,000 and made several additional improvements. This revised $8,000 tax credit applies to purchases on or after January 1, 2009 and before December 1, 2009.
Read all about it, including frequently asked questions, sample scenarios and more at Realtor.org.
Tags: Realtor.org, tax credit
Kentucky Ups New Home Tax Credit
Aug 23, 2009 News, Residential
The New Home Tax Credit is a nonrefundable credit, up to $5000, against individual income tax allowable to a qualified buyer.
As we had previously written about back in April, Kentucky Joins in Tax Incentives for Home Buyers, some changes have been made. Here’s how to know if you qualify.
You can claim the credit if all of the following apply:
- Your qualified principal residence is a single family dwelling;
- Your qualified residence is purchased to be the principal residence of the qualified buyer(s) for a minimum of two (2) years;
- You purchase a new home after July 25, 2009 and before July 26, 2010; and,
- You meet qualifications and receive approval from the Department of Revenue.
You cannot claim the credit if:
- Your application is not received via FAX within seven (7) calendar days from the purchase date. Any application submitted via mail will be denied.
- Your new residence has been previously occupied.
- Your application is received after the New Home Tax Credit cap has been reached.
- You are eligible for first time homebuyer credit under Section 36 of Internal Revenue Code.
Please understand that you must apply for this tax credit and you must do so within (7) days of your closing. For all the details, please visit the Department of Revenue’s Web site for more details: New Home Tax Credit.
Tags: louisville ky, new homes, tax credit
Best Louisville Neighborhoods: Briar Hill & Estates
Aug 19, 2009 Neighborhoods
Briar Hill is a great neighborhood in the southern portion of Oldham County (Area 21) that’s been nice for 20 years and is now taking off! About 24 years ago they started building custom homes on larger lots without moving too far east of the Jefferson County line. Today they’re building even nicer, custom homes, similar to those you might find in Hillcrest on Oldham’s north side. Because of it’s location in Crestwood and growing size, Briar Hill is a popular place for a homebuyer seeking the top-rate Oldham Co. schools without moving too far from Louisville. If you like GlenOaks, you should also consider Briar Hill! Read More »
Tags: best louisville neighborhoods, Briar Hill, Briar Hill Estates, louisville ky
Louisville 1 of 10 Cities Primed for Real Estate Turnaround
Aug 12, 2009 News
I’m not sure “recovery” is the best term for the Louisville housing market, since admittedly the author of this U.S. News and World Report article said it never really bust, but it’s nice to hear national experts promote our city.
The article is called 10 Cities Primed for a Real Estate Recover. Here’s the portion that refers to Louisville.
Louisville, Ky. (15.9 percent, up 3.5 points). Two Ford Motor plants have been laying off workers, and other cutbacks in manufacturing and construction have driven the local unemployment rate above 10 percent. But UPS recently expanded a major shipping hub, and there are other anecdotal signs of hope. Attendance at job fairs has been falling, for instance, and a majority of regional retailers say they’re optimistic that sales will pick up in coming months. Plus, Louisville’s real estate market never boomed like other markets, which means there will be less of a bust to recover from.
Newsweek Says, ‘Now Is the Time!’
Aug 11, 2009 News
Now is the time to act!
Their title is certainly eye-catching: Now’s the Time to Buy Your Dream House. Louisville home buyers don’t have to take just my word for it, now the national experts are starting to follow suit. (I wonder what took them so long.)
So why is now the perfect time?
Well, the reason it’s a perfect time to launch this column should be clear. There is an opportunity in residential real estate ownership unlike any we’ve seen in quite a long time, a perfect storm of sorts that is unlikely to last much longer. Home prices are down, interest rates remain near historical lows, and inventory is high. Thus, those with stable jobs and good credit can find their dream home, pay a price lower than any time in the last five or more years, finance it at a very favorable interest rate, and thereby be perfectly positioned for the housing recovery that the magazine wrote about.
I’ve been preaching the same sermon here, here, here and here.
The bottom line is that if you need to buy a new Louisville house, don’t wait. If you do, you might be looking back thinking about what might have been the best deal of your life.
Tags: Newsweek
Home Maintenance Tips for Fall in Louisville
Aug 10, 2009 Home Improvement
Here’s an example of what you don’t want your gutters to look like.
I like to publish home improvement and home maintenance tips every so often here at LouisvilleHomesBlog.com, mainly because sometimes we Realtors forget that buying the house is just the beginning. For the homeowners to keep their investments in tip-top shape, you need to be ever vigilant.
So for autumn here in Louisville, I’ve put together some of the best home maintenance tips for all homeowners. Now’s let’s all get to work out there!
- Repair/Caulk Windows & Doors: More energy escapes a house through windows and doors than other other location. Want lower energy bills? Start here. Also, don’t forget the weather stripping!
- Service HVAC: With winter approaching, it’s usually a good idea to have your HVAC serviced at least every other year. There’s cleaning to be done and you want to do that before a problem arises.
- Clean Out Gutters: If your home has gutters, chances are they’ve accumulated some leaves and other debris since the last time you cleaned them out. Before the ice and snow comes, make sure your gutters are free of anything that could cause a much bigger problem.
- Safety Checkup: Don’t forget about all the devices in your home that help to make it a safe place to live; things like smoke and carbon monoxide detectors or fire extinguishers. These items may not come to mind very often, but if an emergency ever occurs, you’ll be glad you have them ready and working.
Best Louisville Neighborhoods: Oxmoor Woods
Aug 4, 2009 Neighborhoods
Oxmoor Woods is a small, but prestigeous neighborhood in Hurstbourne near Jeffersontown in Louisville. Unlike some high-end neighborhoods in the east end, this one is very centrally located, close to both Highway 64 and the Watterson Expressway. Just minutes away from all the great restaurants and stores on Hurstbourne Lane, not to mention Oxmoor Mall and The Mall at St. Matthews, Oxmoor Woods has a great deal to like for those looking in this price range. Read More »
Tags: best louisville neighborhoods, louisville ky, Oxmoor Woods
Louisville KY Home Sales: July 2009
Aug 3, 2009 News
As you’d expect, numbers are up for July over June as the Summer season here in Louisville is seeing a little jump. There are still 9,680 properties for sale in our entire MLS but that’s down a bit from previous highs.
Like always, if you have any questions, please don’t hesitate to contact me.
July 2009
| AREA | SALES | AVERAGE | DoM |
| 0 Central Downtown District | 7  |
$81,000 |
44 |
| 1 Downtwn/Old&WestLouisville/Shively | 74 |
$54,208  |
85 |
| 2 Butchertown/Highlands/Germantwn | 122 |
$177,953 |
59 |
| 3 Brownsboro/StMatthews | 79 |
$212,356 |
65 |
| 4 Pleasure Rdg/Valley Station | 69 |
$99,630 |
73 |
| 5 Auburndale/Fairdale/Iroquois Park | 70 |
$99,925 |
73 |
| 6 Buechel/Highview/Okolona/FernCreek | 146 |
$130,001 |
68 |
| 7 FernCrk/Hikes Point/Jeffersontown | 152 |
$166,094 |
84 |
| 8 Hurstbourne/Middletwn/Anchrg | 87 |
$282,204 |
88 |
| 9 Anchrg/Lyndn/Prospct/UpRvrRd | 120 |
$254,619 |
96 |
| 11 Bullitt Co. | 66 |
$147,737 |
106 |
| 19 Spencer Co. | 28 |
$198,539 |
151 |
| 20 Oldham Co. – North | 38 |
$375,363 |
126 |
| 21 Oldham Co. – South | 37 |
$217,553 |
82 |
| 30 Shelby Co. | 42 |
$177,060 |
117 |
Source: MetroSearch, Inc. Values are not warranted by LHB.
Tags: home sales, July 2009, louisville ky
3 Reasons Why First Time Homebuyers Need to Act Fast
Aug 1, 2009 General
I put on my casual hat when posting on my new blog, Tre Pryor, My Life in Real Estate. So if you’re interested in more playful commentary about my real estate experiences here in Louisville, head over and check it out.
I just posted my first (relatively) important post on that site titled, Time Waits for No Man. In this piece I outline the 3 main reasons why first time homebuyers, if they’re going to take advantage of the $8,000 tax credit, need to act sooner rather than later. I’d love to hear what you think of it!
Tags: tre pryor
