Louisville Real Estate Blog and News

When Will Millennials Start Buying?

(From Marketwatch.com) First-time home buyers haven’t been much help in the housing recovery, but it isn’t because young adults stopped aspiring to become homeowners. “Though they see a tough road to affording Homeownership, younger renters [those between the ages of 18 and 39] still are very likely to say that it’s in their future plans,” wrote Sarah Shahdad, strategic planning analyst with Fannie Mae, commenting recently on Fannie Mae’s National Housing Survey. “The vast majority still plan to own someday; about half plan to buy a home the next time they move.” It’s just that, right now, economic realities and life decisions are getting in the way. And those obstacles have repercussions for the broader housing market, because the absence of young buyers is one big reason why the housing recovery hasn’t been stronger. Read more.

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Why The School District Should Impact Your Home Search

(From Homefinder.com) Buying a home in a good school district can result in resale advantages, offer protection from market fluctuation and provide a great education. Real estate experts in markets across the country share what you should know about a school district’s impact on real estate, whether or not you plan on using the school system. Read more.

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The Most Expensive Real Estate Markets in the World

Infographic courtesy of www.jacksonrowe.com.au

The Most Expensive Real Estate Markets in the World

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5 Least and Most Affordable Housing Markets in the U.S.

(From Marketwatch.com) Buying a home is getting further out of reach for many Americans. According to data released Thursday by online real estate data firm RealtyTrac , housing is now less affordable in more than one-third of U.S. counties than it has been, on average, over the past 14 years; that’s up from just 19% of counties in 2013. This means that nearly 20% of Americans now live in markets where the percentage of income they need to buy a median-priced home is above what they would have needed in the years since 2000. Daren Blomquist, the vice president of RealtyTrac, says that markets are becoming increasingly unaffordable thanks in large part to home price appreciation. The report examined nearly 1,200 counties nationwide. Read more.

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Why Mortgage Rates Haven't Risen As Expected

(From Marketwatch.com)  By most estimates, mortgage rates were expected to climb this year, with rates on the 30-year fixed-rate mortgage predicted to exceed 5%. Instead, rates are now lower than they were this time in 2013 — much to the advantage of mortgage shoppers. There are a few reasons why higher rates never came to pass. Rates on the 30-year fixed-rate mortgage averaged 4.15% for the week ending July 10, according to Freddie Mac’s weekly survey of conforming mortgage rates. A year ago, rates averaged 4.51%. Read more.

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Choosing A Home Improvement Service

Choosing a home improvement service

Home Improvement Service

After moving into your home there will most likely be a list of changes you want to make. This could be changing the interior décor in the kitchen, adding a conservatory or maybe carrying out some general repairs. However, if you don’t have any experience with DIY then why struggle with the work yourself when you can get a professional to do it for you?

Here is a list of qualities you should expect from a reputable home improvement service:

  • Quick turnaround time: the last thing you want after moving into a new home is to turn it into a construction site for months at a time. Therefore, hire a home improvement service that can get work done quickly.
  • Competitive pricing: with so many home improvement companies out there you can negotiate on the price. The competition factor for your business ensures that you should be able to find a good price for your needs. 
  • Reputation: one of the first things to look out for is the kind of reputation a company has before hiring them. In the building trade reputation is one of the most valuable assets a company can have.

Author Bio

This post was written by Stefanos Anastasiadis on behalf of Hurford Salvi Carr.

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Inside Select Homes: 2205 Shady Spring Court MLS #1379217

Take the eclectic charm of the Highlands, add Northern influences, then give it some breathing room on seven wooded acres adjacent to a nature preserve, and you’ve got 2205 Shady Spring Court.

Located on a secluded cul de sac in Paramount Estates in Oldham County’s Prospect, it’s evident this house was built to be a lived in and not simply a showpiece, though there’s no denying the sublime craftsmanship and décor.

Owners Elizabeth Sullivan, a learning specialist and therapist, and John Sullivan, M.D., a child psychiatrist, had restored an old home on Hill Road in the Highlands in the 1990s. At that time, they were sending their four children to St. Francis of the Fields in Prospect. The commute got to be too much, so they decided in 2001 to build a home closer to the school. The couple worked closely with builder Doug Amlung and architect Mary Herd-Jackson to bring as much of the Highlands with them as possible. 

Read the rest at Insider Louisville

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New Listing At 4107 Woodstone Way - MLS #1394507

Fabulous contemporary home MLS #1394507 on popular and convenient Woodstone Way! Gorgeous natural setting and large, terraced lawn that backs to preserved area - will not be developed! Exciting design at 4107 Woodstone  Way with warm, inviting spaces for entertaining. Significant updates to kitchen and baths - incredible master suite! Finished walkout lower level affords the new buyer endless opportunities.

4107 Woodstone Way Louisville KY 40241

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New Listing At 596 Sunset Road In Cherokee Gardens - MLS #1394430

Absolutely darling Cape Cod home in beautiful Cherokee Gardens at 596 Sunset Road, Louisville KY 40206. This updated home MLS # 1394430 showcases a newly remodeled kitchen with custom cabinets and granite countertops. Spacious living and dining rooms, with gorgeous hardwood floors throughout 1st and 2nd floors. Custom wainscoting and wood trim in entry hall. Cozy library with custom upholstered walls. Great dressing room off Master with lots of built-ins. Large finished basement with plenty of room for all your family activities.

596 Sunset Road Louisville KY 40206

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New Listing at 485 Lightfoot Road - MLS #1394415

The first home built in the Greenhill section of Mockingbird Valley MLS # 1394415. Traditional Georgian Colonial style at 485 Lightfoot Road, Louisville KY 40207. graciously situated on .8 acre. Random-width pegged oak flooring throughout, exceptional built-in cabinetry and millwork, and a seamlessly integrated two-story addition are among the fine features of this classic brick home. An open layout with center hall allows a circular flow for easy entertaining as well as convenient family living.

485 Lightfoot Road Louisville KY 40207

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Tiny House Movement Comes To Louisville

For Zachary Hornsby and Stephen Lewis, the American dream is a $15,000, 160-square-foot home on wheels. It is their way of escaping economic hardships they saw family endure during the Great Recession. "I don't want to be in that same situation, where you have to work 50 to 60 hours a week," said Hornsby, adding his mother now is selling a home valued for less than what she paid for it. Instead, Hornsby and Lewis have become part of the "tiny house" movement, in which people live in homes typically less than 200 square feet — often built atop flat-bed trailers — to avoid being saddled with a large mortgage. (From Courier-Journal.com) Read more.

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New Listing at 4415 Stone Lakes Drive

Wonderful executive residence at 4415 Stone Lakes Drive and MLS 1376371 on lake-front lot and cul-de-sac too! Many updates to this stylish home with two story foyer, see thru fireplace in kitchen/great room, hardwood flooring, butler's pantry, walk-out lower level has entertainment area with bar, bedroom and full bath. Walking-fitness trail and playground plus fishing lake are just beyond your back yard! 

4415 Stone Lakes Drive Louisville KY 40299

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New Listing at 2200 Douglass Woods Court

An outstanding home for a family or somebody who likes to entertain at 2200 Douglass Woods Ct and MLS 1394161. Loads of space and rooms for any purpose or occasion. Meet professionals in the formal living room; Set a large table for dinner in the formal dining room; Interact with family or friends while preparing food in the OPEN KITCHEN leading through the breakfast eating area into a large family-room. Pick from your choice of TWO MASTER BEDROOMS - one on the first level or one on the second level.

2200 Douglass Woods Court Louisville KY 40205

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Are These 7 Home Remodeling Projects Worth The Money?

(From Marketwatch.com) When I remodeled my house, I knew what I wanted: a bigger kitchen with room for two refrigerators, more family space and another bedroom. But there are dreams and then there’s reality. My husband and I began wondering not only how much we could afford, but how much was wise to spend. So we called our real-estate agent and explained our plans, with hopes she could help us set a budget. Read more.

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Diversifying Your Property Portfolio

When you’re investing in any asset class, there’s no such thing as a sure bet—and residential property is no different. Whilst there’s potential for capital growth, there’s a flipside of a potential stagnation or decline in market value.

You can reduce these risks by implementing a simple strategy—diversifying your property portfolio. You can do this in two ways. First, buy properties in a range of locations; that is, different suburbs within a city, and/or different States.

Buying all your investment properties in the same suburb or neighborhood means you’re intensifying your exposure to potential changes outside your control. For example, if you buy all your properties in an area where shifting ground increase the prevalence of major cracking, you could be up for tens of thousands in repair bills, more than once.

Further if you buy all the properties in a location that later loses popularity (such as a ‘boom’ town based on a single industry which later goes bust) reduced demand from buyers could affect the resale value of all your assets. If you buy all your properties in an area which later plays host to a freeway that creates considerable nearby traffic noise, you’ll bear an increased risk that not one, but all your properties will stagnate or fall in value.

By diversifying across areas within a city, you can minimize the risk of substantial cash outlays and capital stagnation or loss. If one property takes a hammering, the pain won’t be as bad when your other properties are holding their own.

The second diversification strategy involves buying across different price ranges. This will provide more flexibility when the time comes to sell and free up equity; for example, when you’re nearing retirement and want to top up your super fund.

Let’s say you have $1 million to spend. You can purchase a single asset with the whole amount, or two assets...

Are Millennials Hurting The Housing Recovery?

First-time home buyers haven’t been much help in the housing recovery, but it isn’t because young adults stopped aspiring to become homeowners. “Though they see a tough road to affording Homeownership, younger renters [those between the ages of 18 and 39] still are very likely to say that it’s in their future plans,” wrote Sarah Shahdad, strategic planning analyst with Fannie Mae, commenting recently on Fannie Mae’s National Housing Survey. “The vast majority still plan to own someday; about half plan to buy a home the next time they move.” Read more.

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Housing Price Appreciation Expected to Hit 7%

Despite a weak first quarter, home prices are still expected to rise by 7% in 2014, according to Wall Street analysts. “We continue to expect home price appreciation to moderate from the torrid pace of mid-2012-13, supported by improving employment and growth prospects,” said analysts from Morgan Stanley (MS). “We leave our 2014 projections for new home sales (450-500 thousand units) and home prices (up 5-7% for the year) unchanged.” Read more.

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Buyers Find More Housing Options This Spring

The number of homes for sale is on the rise, a long-awaited welcome to home buyers who are finding more selection than last spring and less competition, according to realtor.com®’s National Housing Trend Report for March of the 146 markets it tracks. Inventories of for-sale homes on realtor.com® in March increased 9.5 percent higher than year ago levels, according to the report. The median list price is $199,900 – 5.3 percent higher than in March 2013. The median age of inventory has also risen – 22.9 percent above year ago figures to a median of 102 days on the market. Read more.

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2013-2014 Cost vs. Value: Remodeling Pays Off Big Time

As existing-home sales and home prices make remarkable strides upward nationwide, remodeling projects are also continuing to make a comeback in a big way. This is the second year in a row that all 35 projects in Remodeling magazine’s Cost vs. Value Report saw more home improvement dollars recouped upon resale of a home than the previous year. Existing-home sales reached 5.02 million in 2013, a 9.1 percent increase from 2012, according to the National Association of REALTORS®. Home prices also rose in 2013: Existing homes commanded a median price of $197,100, up 11.5 percent from the 2012 median price of $176,800. This is the largest price gain since 2005. Also for 2013, the cost-value ratio of remodeling projects nationwide averaged 66.1 percent, up 5.5 points over the previous year — which is, like median price, the largest increase since 2005. Read more.

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Buying A Home Is Now 38% Cheaper Than Renting

Is renting or buying a better financial bet? Every six months, Trulia’s chief economist Jed Kolko runs the numbers to answer that question and help you stay on top of the trends.  So what does Trulia’s Winter 2014 Rent vs. Buy Report tell us? Although the gap between renting and buying is narrowing across the U.S., homeownership is still 38% cheaper than renting. Homeownership remains cheaper than renting nationally and in all of the 100 largest metro areas according to Trulia TRLA -1.26%’s latest Winter Rent vs. Buy report. Read more.

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