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Louisville, Kentucky’s largest city, is more than baseball bats and horseracing (although we’ll talk about those in a minute). Being the 27th largest metro area in the U.S. has its perks. For example, it’s a large enough city to draw in job opportunities (the city recently ranked #18 nationwide for job opportunities in health care and affordable housing) while maintaining a big helping of quaint Southern charm. As you consider purchasing a new Louisville home, we have a few facts for you to consider about the city.

Louisville Bridge

 Derby City

Churchill Downs in South Louisville plays host every year to more than 150,000 attendees of the Kentucky Derby, held the day after the Kentucky Oaks, which itself is the third most-attended day of racing in the U.S. (For reference, the most recent Superbowl, held in Arlington, TX, was the most-attended Superbowl in history and saw only 103,219 attendees.) On top of the horse races, which continue in a tradition started back in 1875, the derby is also known for its fashion: those famed hats. The large, feathered, and otherwise extravagant headwear started becoming a staple at the event in the 1960s, and have attracted nearly as many admirers as the derby itself. While donning the stylish chapeaus, the derby observers are also downing approximately 120,000 mint juleps, the event’s traditional drink.

Strong Housing Market

Louisville’s real estate is in a great stage for buyers right now. In fact, the city was recently named the ...

Louisville Real Estate Trends For 2017

By Jay Gulick, Managing Broker

  • As reported by my friend Tre Pryor in his always insightful writings for Insider Louisville and Louisville Homes Blog, there continues to be serious shortage of houses for sale in Louisville. A balanced housing market (e.g. one that is equally good for buyers and sellers) has six months of available inventory. As Tre points out, in January 2017, there was only 2.18 months of available inventory across the entire market. The corollary to such a low supply of homes is that prices have continued to rise. The average sale price of all homes sold in Louisville in January was $194,108. For January 2016 that number was $187,392 and going back to January 2015, the average sale price was $166,740. So, in just two years the average sale price in Louisville has jumped approximately 16.4%.
  • Interestingly, for homes priced at $500,000 and above there is close to 9 months worth of available single family inventory. So while the market as a whole is very much a seller's market, the high end of the market is currently more favorable to buyers.
  • Lack of inventory coupled with better than average buyer demand also translates into multiple offer situations. Anecdotally, an agent in our office just listed a nicely updated $560,000 house in St. Matthews. She had 19 showings the first day it was on the market and received 3 purchase offers. Most buyers and sellers are well served by having professional agent representation during multiple offer situations which are stressful and highly competitive in even the best of situations.
  • Inventory is tight everywhere, especially in lower price ranges, but if you’re a buyer in 2017 it may pay to broaden your neighborhood search. For example, while the 40217 zip code in Germantown had...

Top 10 U.S. Remodeling Projects For Home Value

Top 10 U.S. Remodeling Projects For Home Value

The always anticipated Cost vs. Value report by Remodeling magazine - 2017 edition - has recently been released. For homeowners seeking the right balance between investing in home improvement projects and the return on those investments (ROI), the Cost vs. Value study has become an indispensable tool. For 2017 the report looked at 29 popular home improvement projects. Overall, these 29 improvements paid back 64.3 cents on the dollar in resale value.

Below are the top 10 remodeling projects for adding home value:

1) Attic insulation (fiberglass) - COST - $1,343  ROI - $1,446

2) Entry door replacement (steel) - COST - $1,413  ROI - $1,282

3) Manufactured stone veneer - COST - $7,851  ROI - $7,019

4) Garage door replacement (upscale) - COST - $3,304  ROI - $2,810

5) Minor kitchen remodel - COST $20,803  ROI - $16,699

6) Entry door replacement (fiberglass) - COST $3,276  ROI - $2,550

7) Garage door replacement (midscale) - COST $1,749  ROI - $1,345

8) Siding replacement - COST $14,518  ROI - $11,093

9) Window replacement (10 vinyl) - COST $15.282  ROI - $11,286

10) Window replacement (10 wood) - COST $18,750  ROI - $13,691

Source: Remodeling 2017 Cost vs. Value Report

To view the entire 2017 Cost vs. Value report and all 29 categories, please click here.

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Falls City Brewing Looks To Join Heine Bros. Coffee in Portland

From Insider Louisville: Neace Ventures, the parent company of Falls City Brewing Co., announced it has signed a letter of intent to acquire majority ownership of a building that houses the Heine Brothers’ Coffee headquarters. The acquisition would mean that all of Falls City’s brewing production would return to Louisville. “We are excited to announce that Falls City Brewing Company’s full-scale production is coming back to where the brand was born,” said Falls City president Shane Uttich in a press release. Read more.

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5 Must-Visit Restaurants in 2017

From Louisville Distilled: It’s an embarrassment of riches when it comes to where to eat in Louisville. Beloved institutions that have withstood the onslaught of new places are still serving up favorites while fresh names pop-up like mushrooms. Read more.

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12 Louisvillians Offer 2017 Predictions

From C-J.com:  To know the future, some invest in age old practices like consulting the movements of celestial bodies in astrology or observing the tea leaves left in a cup as practiced in tasseography. There’s also the handy Magic 8-Ball for making predictions. Instead, we've consulted some local experts to figure out the future in four areas: regional art and culture, Louisville cuisine and libations, fitness and wellness, and women’s cultural status in our community and state. Read more.

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Olmsted Parks Tour With Councilman Tom Owen

We're posting this video in honor of retiring Metro Councilman Tom Owen. In addition to serving many years as a Councilman, and before that as an Alderman, Tom is well known as a local historian and archivist for the University of Louisville. Thank you for your service Tom! Without question you have made Louisville a more vibrant and welcoming community. 

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2016 Record Year For Louisville Real Estate?

From Insider Louisville: From January through November 2015, there had been 10,548 properties sold in Jefferson County. This year we’re up 5.58 percent with 11,137 units sold. All while Louisville homebuyers had far fewer choices! With only 304 homes needed to top our all-time record, it’s all but assured that 2016 is a record year for Louisville real estate. Read more.

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GLI Launches 'Live In Lou' To Grow Skilled Workforce

From Louisville Business First: The topic on top Louisville employers' minds is the same across the board: How are we going to fill our open positions with a talented, educated and skilled workforce? Stacey Servo, talent attraction and development manager for Greater LouisvilleInc., said the question spans all industries, including technology, logistics and manufacturing. Read more.

Live in Lou Logo

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Olmsted Parks Conservancy Nears Fundraising Goal

From Courier-Journal.com: The Olmsted Parks Conservancy is nearing its goal to raise about $11.6 million to improve the string of Olmsted-designed parks and parkways across Louisville. The park-friendly organization launched its Campaign for Extraordinary Parks in March 2014, with the goal of investing in much-needed Olmsted Park projects. Read more.

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Sticker Shock for East End Homeowners in 2017?

From The Courier-Journal.com: More than 100,000 Jefferson County homeowners – mostly in St. Matthews and the East End – will face property reappraisals next year and probably suffer “sticker shock” too when future tax bills arrive, the top assessment official said.  "Home sales and values are skyrocketing, and sales drive the bus" in how property is evaluated for tax purposes, Jefferson Property Valuation Administrator Tony Lindauer said in late October. Read more

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21 Questions With The New York City Ballet's (And Louisville Native) Wendy Whelan

From Louisville Magazine:  After three decades with the New York City Ballet, ballerina Wendy Whelan retired in October 2014. This month, on Oct. 24, the 49-year-old Louisville native, who lives in Manhattan on the Upper West Side, returns to her hometown for a conversation about her life (including her future in dance) titled “To the Point,” at the Kentucky Center’s Bomhard Theater. The author Emily Bingham will conduct the interview. Read the interview.

 

 

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Trusted Direction in Real Estate - About Kentucky Select Properties

Kentucky Select Properties is the top selling 100% locally-owned and independent residential real estate company in Louisville, Kentucky. Find out more about how Kentucky Select does business and why being a good corporate citizen is central to its success.

Trusted Direction In Real Estate - About Kentucky Select Properties from Kentucky Select Properties on Vimeo.

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Kentucky Select Wins 'Extraordinary Philanthropy' Award at 21st Annual Fall Luxury Real Estate Conference

On Friday September 30 Who's Who In Luxury Real Estate and LuxuryRealEstate.com presented Kentucky Select Properties with the award for "Extraordinary Philanthropy" at the 21st Annual Fall Luxury Real Estate Conference at the St. Regis in Aspen, Colorado. The award recognizes the LRE member who shows a passionate commitment to community service and philanthropy in their market. 

LuxuryRealEstate.com, frequently ranked ‘Best Website’ in consumer and industry surveys, has been recognized for excellence by the WMA Awards and the Webby Awards and has been voted ‘Best of the Web’ by Forbes Magazine multiple times. Since its debut in 1995, LuxuryRealEstate.com has remained the #1 portal for luxury properties on the internet and has several times more $1,000,000+ content of any near-peer. Known in the industry since 1986 as the Who’s Who in Luxury Real Estate network, a global collection of the finest luxury real estate brokers in the world, this group of more than 130,000 professionals with properties in more than 70 countries, collectively sells in excess of $190 billion of real estate annually. 

Luxury Real Estate Award...

Artisans Create Hip Vibe in Butchertown and New Albany Rises

Great article from Bailey Loosemore at the Courier-Journal: Separated by the Ohio River, two of the metro area's once-thriving waterfront communities each had to almost completely die before they could enter periods of rebirth. Butchertown and New Albany - communities founded nearly 200 years ago - aren't a pair that's often compared. But with the metro as a whole experiencing a return to urban living, both have been labeled neighborhoods on the rise and have more in common than one might think. Read more.

Butchertown

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21 Reasons You Need To Visit Louisville This Fall: A Local's Guide

Check out this great article from Louisville native and travel blogger, Lia Saunders: Louisville, Kentucky is the city where I was born and raised, and although I’ve traveled all over the world, I’ve never found anywhere quite as special. Louisville is more than just a world class city brimming with art, culture, food, bourbon, and the friendliest people you’ll meet anywhere. It’s a big city with a small town feel, as the locals like to say. Louisville has so much to offer and shouldn’t be overlooked for anyone planning a trip to nearby St. Louis, Chicago, Nashville, or Indianapolis! Read more.

Fall in Louisville Kentucky

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