Louisville Properties Blog
Louisville Properties Blog

Louisville Properties Blog

Conserve Energy in Your Louisville Home in Style

The Louisville Courier-Journal has some great ideas to live green and save green without sacrificing your sense of style. Louisville homeowners are becoming increasingly adept at saving money on energy costs and reducing their carbon footprint. Both goals can be accomplished while displaying their sense of style. Like new Energy Star appliances, all of these energy-saving decorating ideas pay for themselves in no time at all through lower energy usage. Starting with the windows, a layer of heavy fabric sewn onto the back of the drapes helps improve their ability to insulate the home in cold and hot weather. Replace older windows with newer, more energy-efficient windows. They're pricey but also pay for themselves over time.

Next, swap out incandescent light bulbs for new fluorescent or LED light bulbs. The color and quality of light provided by fluorescent bulbs has improved significantly in recent years and the new LED bulbs use even less energy. Make a ‘vampire energy' home audit. Vampire energy is the energy consumed at a low, but constant level by appliances that are left plugged in at all timers whether in use often or not. For the floors, buy large, warm area rugs that add a cozy feeling to your home, making it easy for you to resist the temptation to turn up the thermostat in cold weather.

One of the simplest ways to live more ‘green' and save no energy costs is to keep afghans or other types of blankets draped across the chairs and sofas where you do most of your reading and TV watching. These are but a few of the ways that you can save money through lower energy usage in your ...

New Federal Assistance Available for Louisville Home Buyers

Kentucky Congressman John Yarmuth has been joined by Louisville Realtors, local homeowners and members of the Home Builders Association of Louisville to announce that more Louisville residents are eligible for a homebuyers tax credit than ever before.

"The first-time homebuyer credit included in the Recovery Act has already helped hundreds of Louisville families fulfill the dream of homeownership and given a much-needed boost to the local housing market," said Congressman Yarmuth. "Congress extended the credit last week, making it easier for sellers to find a buyer and for buyers to afford the home they want."

President Obama recently signed new legislation that extends the deadline for first-time homebuyers to qualify for up to $8,000 in tax credits from December 1, 2009 to April 1, 2010. First-time homebuyers may also be eligible for tax credits of $6,000 and $4,000 until December 2010. The extension of the tax credit program also increased income caps for eligible buyers and expanded eligibility for tax credit for current homeowners. Some of the more notable changes in the program include:

  • Maximum income levels to qualify for the tax credit have been raised from $150,000 to $225,000 for families, and $75,000 to $125,000 for individuals, enabling many more prospective Louisville homebuyers eligible.

  • Louisville-area homeowners who have lived in their current home for at least five years who want to move into a new home may qualify for a $6,500 tax credit.

    ...

New Louisville Condo Development Transforms Building into the Marseilles of Cherokee Road

Looking for a Louisville condo for sale? A development group purchased and transformed the 19th Century Cherokee Triangle home, previously divided into eight apartments, into a new Louisville condominium building called The Marseilles of Cherokee Road Condominiums. The new Louisville condo building's address is 927 Cherokee Road—close to Eastern Star Drive—and has been renovated, reconfigured and expanded to accommodate six condos as part of a $1.2 million development. Part of the building's renovations included a new addition to the back of the structure and the interior was gutted and made into luxury condos.

One of the developers, Robert Dockery, owner and manager of Bob Dockery Entertainment near Los Angeles, is a Louisville native who wanted to transform the "eyesore" into a model for older apartment buildings in the Highlands neighborhood.

"While it's been a long and complicated undertaking, we think the end project is really going to be dynamic," Dockery said. "The aim has been to blend historic features with state-of-the-art-type amenities that people expect today."

Each new Louisville condo for sale has advanced audio and video systems and high definition cable connections already built into the walls. Dockery said that two of the condos are very near completion and each will be used as models, complete with furnishings. Prices for the units range from $256,000 to $499,000.

If you're looking for the perfect Louisville condo, call Louisville Properties today at 502.744

9504. No other Louisville real estate professional has more experience helping people...

2010 Expected to be Another Rough Year for Commercial Real Estate

Real estate industry analysts are forecasting that 2010 will be another tough year for commercial real estate with prices expected to hit bottom, creating market difficulties not seen for generations. However, they also said that like any other depressed market, there would be unique opportunities for savvy investors with deep pockets. They say that the 2010 commercial real estate market will be an exercise in the survival of the fittest, with only the strongest developers and investors still around by the end of the year. In other words, commercial real estate analysts expect market conditions to get much worse before they recover with 2010 being the year that many creatively financed real estate deals made at the height of the commercial real estate boom coming due.

Regarding all the loans coming due in 2010, one analyst said, "So that's a whole lot of mortgages that have to be refinanced. And how they get refinanced is the problem that's out there. No one knows where the money is coming from. Most of these deals are underwater or have little or no equity in them and the lender's not going to give you an 80 percent loan anymore. They're going to give you a 60 percent loan."

He called mortgage-backed securities the commercial real estate sector's Frankenstein monster, saying that some lenders will be willing to extend mortgage terms while others will have no choice but to repossess some properties.

If you're thinking about buying  Louisville commercial real estate to start a business, expand an existing one or as income property, there's never been a better buyer's market than right now. For the area's best selection...

Tax Credit Drives Home Sales across the Country

Sales of existing homes received the biggest boost in a decade due to the first-time homebuyers tax credit, fueling hopes of a rebound in struggling real estate markets driving some Wall Street stocks higher. Foreclosures, plunging real estate values and job losses still plague many markets, particularly in California and Florida, while economic indicators in some markets are causing bidding wars for homes in select cities. Overall, home sales across the country are up 36 percent above their lowest point in January 2009. Real estate analysts cited the looming expiration of the federal first-time homebuyers tax credit as the principal reason October home sales rose sharply. Congress extended the tax credit program in October until next spring.

The National Association of Realtors released home sales figures recently that fueled a stock rally on Wall Street, pushing the Dow Jones industrial average up more than 132 points. Real estate analysts projected that the tax credit extension will sustain most housing markets across the country through 2009, but expected the nation's overall economy to benefit only slightly from increased home sales. They cited several factors that are preventing the economy from recovering such as slow job creation, rising foreclosures, reduced spending by consumers, and sluggish new home construction.

If you're thinking of buying Louisville real estate and taking advantage of the federal tax credit, your window of opportunity has been extended but won't last forever. With housing prices down overall in and around Louisville, the time to buy is now. Whether you're buying or selling Louisville real estate...

Many Home Sellers Lowered Asking Price in the Last Year

This article reports something that Louisville real estate agents already know—many home sellers are willing to lower their asking price to facilitate the sale of their home. More than a quarter of homeowners across the country wishing to sell their home reduced their selling price at least once in the last twelve months, according to real estate search firm Trulia. The company says the average sale price reduction was 10 percent, but almost half (40 percent) of the top 50 major metropolitan real estate markets across the country saw selling price reductions above 30 percent.

Homes sold in the Northeast saw the highest rate of price reductions with 29 percent of home sellers settling for less than their asking price. Coming in second for reduced home selling prices was the Midwest with 28 percent, followed by the West with 25 percent, and the South with 24 percent.

"With mortgage rates still low and the expansion of the tax credit to trade-up buyers, we could see significant inventory, both new and shadow inventory, hit the market during the next four to six months," said Pete Flint, Trulia co-founder and CEO. "Inventory levels this quarter are poised to be atypical of a normal real estate market, which could create tremendous pressure on sellers to price their homes competitively and move their property before the tax credit expires on April 30th."

Some metro areas experienced notable drops in home asking prices with Kansas City leading the way at 59 percent, Colorado Springs at 43 percent,...

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