Quick Hitters in Louisville Real Estate

Louisville real estate is garnering all kinds of national attention these days:

Louisville Home Prices Stabilizing
Louisville Home Sales Up, Home Prices Down
Kiplinger Tabs Louisville Regional Winner in Home Prices Stability

Mostly positive news, right? I’ll have a more in-depth analysis of the home sales date coming shortly.

But for now, let’s just say that as experts forecast interest rates on the rise, more and more homeowner are going to make their move. If you have any questions, feel free to contact me.

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Healthcare Bill Will Affect Housing Market

When the President signs the Healthcare Bill into law (even with the less than honorable manner of its arrival) our country, which is try to come out of a recession that includes high unemployment, a struggling housing market and a massive national deficit, will be greeted with even more new taxes.

$435,000,000,000 in new taxes by one estimation.

Divide that up between the 307,006,550 citizens and we each get another $1,416 in taxes. New taxes means less disposable income, less saving and certainly less buying new homes.

Be prepared for a less than stellar 2010 with regards to the housing market. I also fear for our economic stability going forward as this administration sets pace for all-time record government spending. Is this the “Change” that so many wanted?

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What Is a True Relocation Specialist?

Lovely lake in White Blossom within Springhurst neighborhood.

Lovely lake in White Blossom within Springhurst neighborhood.

There are a lot of “sacred” terms in real estate. We in the business toss these words around without much thought but does the average consumer know what they mean?

Just now I Google’d “Louisville KY relocation specialist“. Lo and behold, look what came up!

Now, a good portion of my business is helping people relocate to Louisville from outside the state or even outside the country, so I have a great deal of experience in this area. But what I wanted to write about today were relocation companies.

Some, like Cartus, negotiate with the largest U.S. companies to the benefit of both. But do the home buyers benefit? The answer, as you might expect is, “sometimes they do, sometimes they don’t.”

The laws are such that the consumer has the right to use whichever real estate professional they like without being forced into choosing a particular agent deemed acceptable by their employer. There are times when it’s financially in the best interest of the consumer to use that agent, but I’ve seen instances where it certainly wasn’t.

Bottom line is, “Get recommendations!” Find someone you trust, and ask them if their Realtor did a great job. I pride myself on first class customer service for all my real estate clients and as my moto goes, “Top agents put you first!”

If you’re considering a move to Louisville KY, I’d love to chat with you and see how I might best help you!

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Responding to a Down Market

How do homeowners generally respond to a down housing market? Check my newest post for the answer. Here’s a tip, “small is the new big.”

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Louisville Home Prices On the Rise

After a couple of down years, it looks like home values in Louisville are heading back up. This information comes from First American CoreLogic.

Home Prices in Louisville-Jefferson County Increase

In Louisville-Jefferson County, home prices, including distressed sales, increased by 0.63 percent in December 2009 compared to December 2008. This compares to November’s year-over-year HPI, which was 0.06 percent.** Excluding distressed transactions, year-over-year HPI for December is 0.11 percent, compared to November which was -0.87 percent.

First American CoreLogic is projecting that 12-month forecast for Louisville-Jefferson County home prices, including distressed sales, will be 3.30 percent.
National HPI Highlights as of December 2009

  • Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to December 2009) is -28.2 percent. Excluding distressed properties, the peak-to-current change in the HPI is -21.5 percent.
  • When distressed sales were included, Nevada (-20.8 percent) remained the top-ranked state for annual price depreciation in December, followed by Arizona (-12.6 percent), Idaho (-11.4 percent), Florida (-11.3 percent) and Michigan (-10.8 percent). Of these five states, all but Michigan showed month-over-month decreases in their HPI between November and December 2009.
  • Excluding distressed sales, the worst five states for year-over-year price declines changes slightly. Nevada (-18.8 percent) still holds the top spot, followed by Arizona (-11.8 percent), Florida (-10.3 percent), Michigan (-10.0 percent) and Maine (-9.1 percent).

“The housing market, after experiencing stabilization in many, but not all, markets in the spring and summer of 2009 is going through the typical seasonal winter malaise,” said Mark Fleming, chief economist for First American CoreLogic. “The big unknown for the 2010 spring selling season continues to be the future of the federal home buyer tax credit,” he said.

What’s even better is that they’re forecasting a good 2010. Here’s the 12 Month Forecast, starting December 2009 to December 2010.

Kentucky 3.2% [Single Family Combined] 2.5% [Single Family Combined Excluding Distressed]
National 2.7% [Single Family Combined] 3.5% [Single Family Combined Excluding Distressed]

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Vacation Uninterrupted

My lovely wife and I have the great opportunity to take our second vacation, sans kids, in 17 years. We’re heading South to the Caribbean island in the photo above.

So for the next 7 days I’ll be out of pocket. If you need anything, please contact my broker, Rick Shaw. Via con dios!

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My Favorite Client

My favorite client is the one who trusts that I am going to do everything I can to help them find the best possible home for them.

My favorite client enjoys the process as well.

My favorite client tells me everything they’re thinking, even the small stuff, because you never know what might trigger a great idea.

My favorite client thinks Louisville is a great city.

My favorite client wants to cover all the bases, just to be sure.

My favorite client asks me for help any time they need it, no matter what it is, because they know that I take pride in my service.

My favorite client tells his friends about me.

My favorite client believes in me as I believe in them.

Could you be my favorite client?

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2009 Edition Real Estate Year in Review

Before the clock struck 12 on New Year’s Eve, I published Top 10 Stories in Louisville Real Estate 2009. I think it turned out quite well. I’d love to hear your thoughts.

Lots going on here. I predict 2010 beats 2009 by 20% or more. Cheers to you!

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The Holidays Are Among Us

Things are going to get a little crazy next week so I want to take this moment and wish you the very best Christmas this year. Stop for just a minute or two and think about His gift—it was His very life for ours.

Many kings will send their people out to die for their kingdom.
Only one King sent Himself out to die for His people.

I wish you a wonderful 2010!

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Louisville Makes Top 40 in Housing Recovery

New post over on LHB about Louisville ranking 37th in the nation for the housing recovery. Check it out!

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