Posted by Jay Gulick on Friday, May 13, 2016 at 1:33 PMBy Jay Gulick / May 13, 2016Comment
In just a little more than two months people from all over the country will be flocking to Louisville for three days of music, art and activism. The 2016 Forecastle festival (July 15-17) features The Avett Brothers, Alabama Shakes, Ryan Adams, Death Cab for Cutie, Joan Shelley, Brandi Carlile and many other incredible guests. There are still tickets available. If that's not enough to wet your whistle, here's a great video of Forecastle highlights from last year. #scenesfromtheship #getonboard #Forecastle
Posted by Jay Gulick on Tuesday, May 10, 2016 at 2:19 PMBy Jay Gulick / May 10, 2016Comment
Preparing Your House To Sell
Depending on how you approach it, selling your home can either be a quick, painless process or a total nightmare. The more prepared you are, the less time your home will spend on the market and the sooner you will get paid.
Along with finding a good listing agent to oversee the sale of your home, you should also put time and effort into sprucing it up before it goes on the market. Today's buyers expect to see homes that are attractive, clean and move-in ready. If your home does not meet these criteria, it could languish on the market with little or no interest for months or years. The following will help you prepare your home for sale, improving the chances of getting an offer right away.
Make Every Surface Sparkle
No one wants to buy a home that is dirty, smelly or messy. Put yourself in the position of a buyer and imagine walking into a home that had stains in the bathtub, unusual smells in the kitchen or clutter everywhere throughout the home. Chances are you would walk right back out the door without making an offer.
The same holds true for potential buyers viewing your home. Any signs of dirt, clutter or unpleasant odors could send them packing. Cleaning your house from top to bottom is the best way to avoid this. Be sure to view your home with a critical eye as you clean. Sometimes, it is easy to become so used to odors or stains that you overlook them. Buyers, however, have keen eyes that will catch every speck of dirt or grime.
Stage Your Home
Home staging is the process of decorating your home in such a way that it appeals to as many buyers as possible. In most cases, this means painting the walls in neutral colors, hiding personal...
Posted by Jay Gulick on Monday, May 09, 2016 at 9:30 AMBy Jay Gulick / May 9, 2016Comment
From Departures.com: The distiller behind Copper & Kings—makers of exceptional American brandy and absinthe—tells us why the Derby town is home to so much more than just the two most exciting minutes in sports. Louisville denizen Joe Heron helped re-popularize hard cider in America when he founded Crispin in 2004. Read more.
Posted by Jay Gulick on Monday, May 02, 2016 at 10:28 AMBy Jay Gulick / May 2, 2016Comment
Did you know Louisville is home to 18 parks and 6 parkways designed by the firm of noted landscape architect, Frederick Law Olmsted? Widely known as the designer of Central Park in New York City and the U.S. Capitol Grounds in Washington, D.C., the system of Louisville parks and parkways designed by Olmsted is one of the largest in the United States. The Louisville Olmsted Parks Conservancy was founded in 1989 to "restore, enhance and forever protect" these natural treasures. Watch this informative video to learn more.
Posted by Jay Gulick on Saturday, April 30, 2016 at 7:39 AMBy Jay Gulick / April 30, 2016Comment
LOUISVILLE bolts into the public eye for 120 seconds each May, but there is more to this courtly city on the Ohio River than the Kentucky Derby. The last decade has seen a cultural and civic blooming, with new galleries, restaurants and performance spaces taking their place alongside the city’s already robust roster of seductions. Entire neighborhoods — Butchertown, for instance, and East Market — have been reimagined as engines of cultural and culinary expression. Read more.
Posted by Jay Gulick on Thursday, April 28, 2016 at 9:30 AMBy Jay Gulick / April 28, 2016Comment
The Kentucky Select team got a great update recently on the farm-to-table and Community Supported Agriculture (CSA) scenes from one of Louisville's most celebrated farmers, Ivor Chodkowski. Ivor is the owner/operator of Field Day Family Farm and a founding owner of Harvest Restaurant in NuLu. In addition to the mechanics of helping our clients buy and sell real estate, Kentucky Select agents see themselves as ambassadors for our beloved Louisville. We're always up for learning about cool things going on in our city!
Posted by Jay Gulick on Monday, April 25, 2016 at 9:00 AMBy Jay Gulick / April 25, 2016Comment
This video is a love letter to Louisville compliments of economic development agency Louisville Forward and the folks at 180 Productions. A series of great testimonials from famous and not-so-famous Louisvillians about what it means to them to live in the River City. Watch video.
Posted by Jay Gulick on Thursday, March 31, 2016 at 1:43 PMBy Jay Gulick / March 31, 20161 Comment
From RealtorMag: Every house has a style. Sometimes it has two or more; because of renovations and new, eclectic mixes, fitting a home into one specific category can be daunting or even impossible. Thankfully, there’s no need to memorize complicated architectural terminology. REALTOR® Magazine has compiled a convenient compendium of common styles. See styles.
Posted by Jay Gulick on Thursday, March 31, 2016 at 11:48 AMBy Jay Gulick / March 31, 2016Comment
From Realtor.com: When it comes to real estate clichés, “Location, location, location” has all other contenders (including “Not a drive-by!”; “Cash is king!”; “Is that your checkbook or are you just glad to see me?”; and “Worst house, best street”) beat by a mile. Not only has it been in use since at least 1926 (according to the New York Times), but it’s utterly and inarguably true. More than any other single factor, when you buy a home in a good location, it’s usually a solid long-term investment. Read more.
Posted by Jay Gulick on Friday, March 25, 2016 at 10:18 AMBy Jay Gulick / March 25, 2016Comment
From Markewatch.com: Millennials and others looking to buy a first — or “starter” — home are struggling to find ones they can afford, a new research report says. There are fewer affordable starter homes in 95 of the 100 largest U.S. markets now compared with 2012, according to the San Francisco-based real estate research company Trulia.com. Trulia defines a starter as a home that is in the lower third of a market’s valuation and affordable to those making the median income in that market. Read more.
Posted by Jay Gulick on Thursday, March 17, 2016 at 3:31 PMBy Jay Gulick / March 17, 2016Comment
From HighlandsHomePlace.com: Kentucky is serious about bourbon. If you order an Old Fashioned in Kentucky, there’s not much question about what you will get. There are a few rules when it comes to bourbon production, as well as some unwritten rules that come with how you drink it. We’ve all heard the self-proclaimed bourbon connoisseur at the restaurant who orders a “Woodford and Coke”. Read more.
Posted by Jay Gulick on Thursday, March 03, 2016 at 4:46 PMBy Jay Gulick / March 3, 20161 Comment
From Marketwatch.com: There are about 80,000 real estate appraisers in the U.S. and they play a key role in most home sales: Until they weigh in with a determination of a property’s value, the buyer typically can’t finalize a mortgage. (Appraisers also play roles in property-tax appeals and home-equity lending, among other transactions.) Read more.
Posted by Jay Gulick on Tuesday, March 01, 2016 at 9:25 AMBy Jay Gulick / March 1, 2016Comment
From C-J.com: The housing market in Kentucky had a record-setting year in 2015. The Kentucky Association of Realtors reports that total home sales in 2015 statewide reached a record 48,488, a 4.2 percent increase over the 46,553 homes sold in 2014. The previous record for home sales came in 2006, when 47,312 homes were sold. Read more.
Posted by Jay Gulick on Monday, February 15, 2016 at 4:27 PMBy Jay Gulick / February 15, 20161 Comment
It's never too early to start planning for the latest installment of Homearama! This year's version will be held at the new urbanist neighborhood of Norton Commons in Prospect, KY. Click here for more info including previews of some of the featured home models.
Posted by Jay Gulick on Monday, February 08, 2016 at 9:03 AMBy Jay Gulick / February 8, 2016Comment
By Barbara Ballinger via Realtor Magazine.
Design changes, as does architecture. Trends don’t emerge as rapidly here as they do in say, food or fashion, but the economy, the environment, and demographics all spur shifts in the choices of materials, designs, layouts, and construction methods for single- and multifamily dwellings.
These 12 trends reflect ways to cope with environmental challenges, incorporate new building materials and methods, and alter the looks and functionality of our homes. Hear top designers and architects explain why these emerging trends are important and how they’ll influence real estate choices in the near future. Read more.
Posted by Jay Gulick on Wednesday, February 03, 2016 at 2:33 PMBy Jay Gulick / February 3, 2016Comment
From WSJ.com: Rick Pitino, head men’s basketball coach at the University of Louisville, has relisted his newly renovated Miami-area mansion for $25.9 million. Located in affluent Indian Creek Village, the home has gone on and off the market several times over the years, and was last listed in 2013 for $13.9 million. Listing agent Ralph Arias of ONE Sotheby’s International Realty noted that the home has since been renovated, and added that home prices in Indian Creek have increased dramatically in the last few years. Read more.
Image source: WSJ.com/CAD Studio Architecture, Inc.
Posted by Jay Gulick on Monday, February 01, 2016 at 3:24 PMBy Jay Gulick / February 1, 2016Comment
From Courier-Journal.com: The sale of single-family homes and condominiums in Jefferson, Bullitt and Oldham counties rose 12 percent in 2015, the Greater Louisville Association of Realtors reported Monday. Last year, 16,279 homes and condos were sold in Louisville-area counties compared to 14,540 in 2014. Sales in the three counties were also up 12.5 percent in December 2015 versus December 2014. The median price for single-family homes and condos in all areas in 2015 increased 5.8 percent compared to 2014. The average price for a single-family home or condo also increased 6.2%. Read more.
Posted by Jay Gulick on Monday, January 18, 2016 at 3:50 PMBy Jay Gulick / January 18, 20161 Comment
From Marketwatch.com: Last year, 66-year-old Lauren Knoblauch sold or donated nearly everything she owned, from her two-bedroom home on a suburban Seattle lake to her furniture and many of her clothes. She moved everything else, two small carloads’ worth, into her new home: a downtown apartment that, at less than 150 sq. ft., is smaller than the average U.S. master bedroom. Read more.
Posted by Jay Gulick on Wednesday, January 06, 2016 at 9:22 AMBy Jay Gulick / January 6, 20161 Comment
Economist John Kenneth Galbraith once quipped, “There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know.” Keeping this in mind, it is with a sufficient dose of humility that we offer a few thoughts on factors that may impact the Louisville residential housing market next year.
Because of an ongoing lack of inventory it will likely continue to be a seller’s market in 2016. Absorption rate measures the rate at which available homes are sold in a specific real estate market during a given time period (calculated by dividing the total # of homes by the number of sales per month). A balanced market – one that favors neither buyers nor sellers – has an absorption rate of 6 months. According to a December 22 post from Louisville Homes Blog, November Louisville’s absorption rate was an eye-opening 3.68 months. Additionally, there has been nearly a 20% decline in the number of active listings since November 2014.
"There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know." - John Kenneth Galbraith
Basic economics tells us that with lower supply one can expect higher prices. But even with a lack of inventory there may be a ceiling on home appreciation for the next few years. The S&P/Case-Shiller Housing Index estimates that nationally home prices will rise 3% in 2016 and 2017. This contrasts with an annualized growth rate of 9.5% since the end of 2011, when the Index declared the housing market had hit bottom after the recession.
The recent decision by the Federal Reserve to raise the federal funds rate likely signals the beginning of the end for historically rock bottom mortgage rates. This is not to...