Louisville Properties Blog
Louisville Properties Blog

Home Building

Some Homeowners Gain Limited Relief from Chinese Drywall Problems

Homeowners struggling with strong odors, malfunctioning appliances, ruined electrical wiring and plumbing, a host of health problems and other difficulties from drywall manufactured with high levels of sulfur may finally have some help. Homeowners in 38 states have been dealing with a myriad of problems for the last several years as devastation from Hurricane Katrina and a housing boom drove record demand for drywall. Builders and distributors imported millions of sheets of drywall from China to rebuild homes along the Gulf Coast and for new construction elsewhere. Property owners' problems began shortly after moving in. Some of the contaminated drywall was manufactured in the U.S., but the overwhelming majority of the drywall was made in China and emits corrosive hydrogen sulfide gas. This gas causes respiratory problems, persistent headaches, sinus infections and other health issues for homeowners and corrodes most metals in a building. Many owners of homes built with the contaminated drywall are in an unenviable position as their current homes are uninhabitable and they must rent or buy other homes to escape the fumes. Making matters worse, their newly built homes are now nearly unsellable unless they gut them and rebuild at a cost of nearly $100,000. 'My property right now has no value -- it's toxic. I can't sell it. I can't do anything,' said one homeowner in Florida. Hundreds of lawsuits have been filed, but Chinese drywall manufacturers contend that U.S. courts have no jurisdiction over them. Only one, Knauf Plasterboard Tianjin, is negotiating with homeowners on a settlement. However, with at least 5,600 homeowners participating in a class-action lawsuit against 1,600 manufacturers, builders, installers and insurers, those receiving any financial help in the short term will be in the minority. The homes affected by the contaminated drywall were built in 2004 and after. If you're looking for an older home in the Louisville area to buy as your primary residence...

Looking for Professional Louisville Property Management? Here's Why You Should Call Us First!

Many people who own investment real estate in the Louisville area face the same dilemma: manage the properties themselves or hire a professional Louisville property management company. Neither is better than the other is; it really boils down to the property owner's situation. Nevertheless, if you're a Louisville income property owner who lives outside the Louisville area and has no plans to move here, you've already made your decision. You need to find a property management company in the Louisville area to handle the day-to-day business of managing and protecting your investment. Why should you choose Louisville Properties for your Louisville property management needs? Here are a few reasons:

  • Proven successful track record for managing single-family homes, condos and apartment buildings

  • Professional, reliable rent collection and disbursement

  • Extensive tenant screening including applications and credit verification

  • Income and expense reports for your review

  • Ongoing maintenance and 24 hour emergency repair service

  • Compliance with all local laws and regulations


Affordable Louisville Housing

When the opportunity arises to purchase a home, the options can be endless and overwhelming. After several years of economic hardship greatly affecting the homeowner's market, the tides are turning and homes are starting to gain back value in significant numbers. As of now, affordable Louisville housing is possible and available. Currently in 2010, there is a wealth of options for homebuyers looking for safe and affordable housing in the Louisville area. The Housing Tax Credit is still current, meaning that first time homebuyers can receive $8,000 if they meet all of the criteria. There are also several other companies in Kentucky that provide financial support when buyers are in need of a little assistance. There are down payment assistant programs that help buyers secure a home up to $258,000. These homeowner options are made to be forgiving for buyers. Interest rates for borrowed money are low, and often people are given a substantial amount of time to repay the money borrowed for down payments. It's important to note, as with any assistance program, you need to meet certain criteria before you qualify for financial aid. There are also programs through the Kentucky Housing Corporation that if you qualify, you will receive aid that is instantly forgiven. This means no payment is required ever as long as candidates meet the standards for that specific aid. There are options for those who feel they cannot obtain safe and affordable Louisville housing. You'll never know until you actually start the process of shopping for the perfect home. To make it easy, contact Louisville Properties at 502.744.9504 and work with a flat rate realtor in the Louisville area. ...

Sales of Existing Homes Up Sharply in November

The Washington Post reports that even while sales of newly built homes languished in November, sales of existing homes were up sharply that month. Most of the boost in home sales was attributed to federal programs, particularly the homebuyer's tax credit, which inspired buyers to take action rather than continue watching the market. November's existing home sales represented the highest level of sales since February 2007 and boosted housing markets across the country by reducing the inventory of unsold homes.

The National Association of Realtors said that sales of existing homes last November, which includes single-family homes, condos, townhouses and co-ops, rose 7.4 percent from October's sales. Year over year, November 2009 home sales were up 44 percent to an annual rate of 6.54 million homes—the highest yearly gain since these housing metrics started being tracked in 1999.

The Realtors Association cited the tax credit and lower home prices as the largest factors that drove home sales. Michael Larson, a housing analyst at Weiss Research, had this to say about November's home sales, "Clearly, the tax credit and the feds meddling in the mortgage market has helped add an extra kicker to home sales in the short term, but that's not the only factor at work. As housing prices fall, home ownership becomes competitive with renting, and buyers start to come out of the woodwork."

If you're tired of renting and want to take advantage of great deals on Louisville homes for sale, call Louisville Properties today...

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