Louisville Properties Blog
Louisville Properties Blog


Federal Reserve Bank Says Market Conditions Improving in Louisville

The Federal Reserve Bank of St. Louis said recently that overall, conditions in and around Louisville are slowly improving, but employment has lagged behind thus far. They issued their report in their quarterly assessment. They said that manufacturing, housing markets and auto sales are improving in Louisville and nearby areas such as Southern Indiana, Elizabethtown, Bowling Green, Owensboro and Evansville, IN. Southern Indiana and the western half of Kentucky are part of the St. Louis Federal Reserve Bank. The Fed also reported that January 2010 building permits issued in the area rose by larger percentages than the national average, with permits up by 55 percent in Louisville and a whopping 237 percent in Elizabethtown. In addition, the Fed said that home prices in each area either made modest gains or trended slightly lower, but decreased less than the national average for the last quarter of 2009. The fact that employment was down overall in the region with every sector but government and education/health services losing jobs has toned down the Fed's enthusiasm. Nevertheless, manufacturing, an employment sector hit especially hard by the economic downturn, showed modest gains recently, and the Fed expected that trend to continue. The Fed report stated that commercial real estate in Louisville continued to lag behind residential real estate sales as industrial vacancies downtown and suburban office vacancies rose. With commercial real estate trending downward and residential real estate showing modest gains, now is a good time to take advantage of Louisville real estate market conditions. For the area's best selection of residential and commercial real estate, call Louisville Properties today at 502.744.9504....

Successful Home Sales in a Slow Louisville Real Estate Market

Even though home sales are on the rise after an economic downfall, the market is slower than it has been in past years. The values of homes overall remain less than what they were before the economy took a dive. However, note that just because home sales are slow in the Louisville real estate market, selling isn't impossible. There are several ways you can better prepare your home to weather a tough market. For starters, make all the necessary repairs. The majority of buyers that would have been satisfied with a fixer-upper are now looking for a move-in ready home. This includes roof repairs, plumbing issues and simple paint jobs. Secondly, you need to be realistic in how you price your home. Agree to list your home in the price range of other homes in the area. Sometimes it's difficult to take less than what you feel your home is worth, especially now in a slower Louisville real estate market. It may also be less than what you paid when you originally purchased it, and that can be a low blow if you've made many improvements. Finally, retain an agent who has a good record. This is more important now than ever. If your agent is averaging six months to sell a home, that's a long time. You're going to want to find someone known to sell fast. Not all Realtors™ are created equally. You need to make sure your house is listed with an agency that knows how to get homes sold. Contact Louisville Properties at 502.744.9504....

Things to Consider When Choosing a Real Estate Agent

An article that appeared in HometownAnnapolis.com brings up a helpful topic for home buyers and home sellers to consider: what to look for in a real estate agent. Many people interested in buying or selling a home don't invest much thought in which real estate agent they choose to assist them with the process. However, the right agent can make a huge difference in how smoothly your sale or purchase goes, and the article outlined a few of the things to look for in a real estate agent:
  • Knowledge of the market – This is invaluable to buyers and sellers, as a real estate agent's knowledge of the market can help with pricing strategies, making an offer that won't insult the seller and inform their clients' decisions in countless, but very helpful ways.
  • Experience – There is no substitute for experience. An experienced real estate agent who has assisted buyers and sellers in hundreds or thousands of real estate transactions is a huge asset for any client. They have seen countless deal-makers fall apart and can prevent buyers and sellers from making the same mistakes.
  • Negotiating skills – Real estate agents with good negotiating skills can finesse many challenging impasses in real estate deals and help the buyer and seller appreciate each other's point of view. Negotiating skills can make all the difference between a deal falling apart and the parties reaching an accommodation.
  • A resident's perspective – Look for a real estate agent who has lived in the area for many years and can save you a great deal of time by helping you find real estate...

What's the Difference between Realtors®, Real Estate Agents and Brokers?

A recent article that appeared in the Washington Examiner discusses a topic that many people want to know: what is the difference between Realtors®, real estate agents and real estate brokers? With the federal tax credit drawing more and more first-time home buyers to the real estate market, many people have no idea about what differentiates one type of real estate professional from another. Here are some brief explanations of the differences:
  • Real estate agents – real estate agents have passed any licensing requirements of the state or states where they conduct business. They have also passed the real estate exam issued by the state or states as well as a national exam.
  • Real estate brokers – brokers are real estate agents who have several years of experience selling real estate, have passed additional education courses and have passed their state's real estate brokers exam. They are licensed to buy and sell real estate and are able to open their own real estate business.
  • Realtors® – A realtor is a real estate agent who has taken additional classes on real estate ethics, is a member of the National Association of Realtors® and agrees to uphold the stringent business principles outlined in the ethics class.
Most real estate agents take the extra classes and invest the time to become Realtors®, but there are several different ways that a Realtor® or real estate agent can perform their duties. The majority of real estate professionals are independent contractors who are professionally affiliated with a real estate firm. It can be a difficult business to gain traction in, as most...
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