Louisville Properties Blog
Louisville Properties Blog

Louisville Properties Blog

Historic Piece of Louisville Real Estate Receives Recognition at Last

A parcel of land called "the single-most important piece of real estate" in Louisville by one local historian is finally getting the recognition many feel is long overdue. The former site of Fort-on-Shore, the first mainland building and settlement in Louisville, has long been overlooked as other nearby Revolutionary War sites received recognition over the years. At long last, that slight is being corrected, thanks to the efforts of local historians. A state historical marker was dedicated on the site in the Shippingport warehouse district west of downtown between the Ohio River and Main Street. The historians wanted to correct the mistaken assumption that nearby Fort Nelson was Louisville's first settlement on the mainland. The new historical marker rightly indicates that Fort-on-Shore was built in 1779, a full three years before Fort Nelson was built. Local historian and Metro Councilman Tom Owen hoped that the new designation would spur interest in redeveloping the Shippingport area. He said, "There have been so many dreams about reclamation there." If you've been dreaming about reclaiming a piece of Louisville real estate for yourself, let the experts at Louisville Properties help you achieve your dream. We've been helping people in the area buy and sell residential and commercial real estate in the Louisville area for years. We value our relationships with local residents and businesspeople, and we have our own history, a history of outstanding customer service and always going the extra mile for our clients. If we can help you find the perfect piece of Louisville real estate or the perfect buyer for your real estate, please give us a call at 502.744.9504 today, and let our expertise help you make it happen!...

Local Building Reopens With New Purpose and a Very Different Clientele

A small building on McHenry Street that once housed the offices for the Louisville Textile Mill reopened recently with a very different purpose. The building in Louisville's Germantown neighborhood is the new home of Germantown Daycare, which will be able to care for up to 115 children between the ages of six months and 12 years old. The building's owner, Richard Morris, took extra care to retain the building's unique character during recent renovations. He said, "We left a lot of the art deco decor here and many of the outdoor features. When we came in and looked around, it was several smaller rooms that led into a bigger room. It just seemed to lend itself to what we needed." The new daycare opened on September 20, but renovating the 37,000-square-foot building presented some very serious obstacles for the new owners. Walls up to a foot thick required removal to create play areas for the kids, and obtaining zoning approval for the renovations and the building's new purpose presented challenges as well. Residents of the Germantown and nearby Schnitzelburg neighborhoods rallied for the new owners, leading a petition drive and contacting city officials to allow the new owners to proceed with plans. Area residents said that a nearby daycare is essential for the young families moving into the area and are very pleased that this resource is now available for their community. In a time when residents and the Louisville real estate market are struggling with so many difficulties, this story is a fine example of the good things that can happen when people work together toward a common goal. If your goal is to find the perfect piece of Louisville real estate for your next home or business, call us at Louisville Properties today at 502.744.9504!...

Home Prices Drop 3.2 Percent in Third Quarter

Real estate analysts from the Federal Housing Finance Agency are claiming that lower demand and the expiration of the homebuyer tax credit are continuing to put downward pressure on home prices across the country. Home prices fell 3.2 percent in the third quarter of 2010, down significantly from the same quarter in 2009. The agency said that Atlanta suffered the greatest decline in prices among the 25 largest metropolitan areas of the country with a 10 percent drop in home prices. San Diego posted the biggest gain with a 4.6 percent jump. Overall, home prices fell in 40 states compared to the third quarter of 2009. Idaho, Georgia, Arizona, Oregon and South Carolina led the declines in residential real estate. One analyst had an especially gloomy forecast for the nation's home prices for 2011. Celia Chen, a Housing Analyst with trend watcher Moody's Analytics, did an interview before the release of the Federal Housing Finance Agency's report. She said, "Our overall expectations for home prices is that they'll drop by another eight percent by the third quarter of next year." We'll have to wait and see whether or not Ms. Chen's dire forecast is accurate, but it is certainly an accurate snapshot of the current mood of home sellers whose homes have been languishing on the market for months. If you're trying to sell your Louisville home and are looking for an experienced, proactive Louisville real estate agent to help make that happen, please give us a call today at 502.744.9504. Louisville Properties has been helping people sell Louisville homes in all kinds of market conditions for years, and we use our resources and experience to help sellers find qualified buyers. For more information, give us a call or fill out our contact form. We look forward to hearing from you!

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Commercial Real Estate Investors Embrace 'Buy and Hold' Strategy

Savvy investors looking for relatively stable places for their capital to appreciate are increasingly looking at commercial real estate. With interest rates close to zero and Treasury bills yielding next to nothing, investors are betting that the country's commercial real estate markets will eventually rebound. Many are investing in distressed commercial properties and projects and taking a 'buy and hold' strategy until the market improves. Prices in commercial real estate have shown modest gains recently according to the CCIM Institute and the Real Estate Research Corporation. Analysts have been urging investors to sell in recent months and take advantage of modest gains in their investments. However, it appears that few are heeding this advice and are slowly adding more commercial property to their portfolios. Frank Simpson, 2011 President of the CCIM Institute, is one expert urging investors to continue holding onto their investments. In a recent statement, he validated the prevailing wisdom of making careful investments and holding onto them until the market rebounds. He said, 'Though much uncertainty remains in the overall economy, transaction trends for commercial real estate continue to improve. The challenge for investors remains finding the right properties at the right price with the best return potential.' As Louisville commercial real estate experts with years of experience helping investors find properties for their businesses and long-term investment goals, we agree with Mr. Simpson. That old saying about buying at the bottom of the market and waiting until it rebounds is definitely true in the current Louisville commercial real estate market. We have been helping savvy investors find business and investment opportunities for years and have seen many commercial real estate market cycles wax and wane. Let our experience and knowledge of Louisville commercial real...

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