Clifton's former Hilltop Theater, most recently the home of cocktail bar and restaurant Red Herring, is set to become headquarters for a Louisville real estate company by early 2019. Kentucky Select Properties announced this week its plans to move into the 113-year-old building shortly after the Red Herring, which opened less than a year and a half ago, shared on social media that its last day in the location would be Sept. 16. Read more.
Less than 24 hours after the operators of Red Herring Cocktail Lounge & Kitchen announced plans to close and search for a new, smaller location, the bar and restaurant’s replacement has already been named — and it’s not another restaurant. The renovated Hilltop Theater will become a real estate hub of sorts, as residential real estate firm Kentucky Select Properties is slated to move in sometime in early 2019. Commercial real estate firm PRG, which represented both Kentucky Select and building owner Mo Deljoo in the transaction, already has offices in the back of Hilltop Theater. Read more.
It all fell into place. “Carole sent you to me,” said Judy Watson Gordon to Robert Holmes sitting next to her. That was the beginning of putting the pieces together. The story begins when Carole Crawford died in 2009 at age 45 in a horrific car wreck after being hit by a lifelong drug addict who was high at the time. Carole and Judy were sisters and best friends. They talked on the phone every night. Carole, the third of seven siblings, lived in Huntington, West Virginia, and Judy, the oldest, lived in their hometown in Louisville. Read more.
The first half of the 2018 Louisville real estate market was marked by home prices continuing to rise faster than a porch thermometer on a sweltering July afternoon. From January 1 through June 30, the average sale price across the Louisville market was up 5.8% to $217,101 (from $205,194 for the same period in 2017). The median price was $177,500 vs. $169,900 a year ago. For the month of June, that average sale price was a staggering $237,458 (five years ago in June 2013 the average sale price was $195,411).
Rising home prices continue to be driven by a shortage of inventory. For the entire Louisville MLS (multiple listing service), the inventory of available properties was 7% lower than for the first half of 2017. The total number of homes sold from January 1 through June 30, 2018 was 8,516 vs. 8,706 or 2.2% less than the same period in 2017. The inventory situation may be improving slightly according to the industry association the Greater Louisville Association of Realtors (GLAR).
Interest rates have risen modestly and mortgage rates have followed suit with a recent 30-year fixed rate at approximately 4.5% according to Bankrate.com (this compares to about 4% for this time in 2017). Most analysts expect rates to continue to rise gradually through at least the end of 2019.
In its mid-year market analysis, GLAR reported more than 4,000 properties for sale at present compared to 3,000 just a few months ago. As has been the case for the last few years, move-in ready homes under $250,000 continue to set the pace and are selling quickly, often in multiple offer situations.
The high-end market also continues to be robust with 347 sales of properties between $500,000 and $999,999 in 2018 vs. 320 for the same period in 2017. Sales of properties priced at $1 million plus also showed limited growth with 41 sales in 2018 vs. 37 in 2017.
The question on most consumers’ minds seems to be: How long can this bull real estate market...
House hunters in the Louisville area are already battling a real-estate market where prices are climbing and affordable homes are getting snatched up quickly. But the latest data illustrated just how tight the market has become. The number of home sales dropped in June over the same month in 2017 both across Kentucky and the local market, according to realtor groups. Read more.
It’s a good time to be selling high-end real estate: The luxury market is posting a record number of sales, and 19 major areas also saw double-digit gains in July, according to realtor.com®’s 2018 Luxury Home Index. The index measures the entry-level luxury price tier, which is the top 5 percent of residential sales among 91 U.S. counties. Read more.
If you’re transferring to a new home or office with the help of a moving company, then the following tips on how to cut costs when moving should come in handy.
Don’t bring everything with you
Surely, some of your belongings are things you don’t really want, much less need. Instead of taking them with you to your new home or office, getting rid of them in one way or another is a much better option. Just leave them behind or give them away. If you want to make some money off them, then hold a garage sale.
Schedule the move during the off-peak season
Moving during peak season can cost you more than if you do it during off-peak months when movers charge lower rates and conditions are more convenient. If you do your move sometime between September to early April, you are going to reduce your costs.
Recycle packing materials
It’s always good to have brand new materials on hand when packing, but if you want to save money, recycling should be an option. You can use boxes you already have at home, but if you need more, you can always ask friends and family for old boxes of their own. You can also go to your neighborhood store and buy old boxes for cheap, or even get them for free.
Pack your own stuff
Some people are just too busy to do their own packing, so they hire someone else to do it for them. Hiring professional packers are a good option if you have the budget for it, but if you’re short on funds, making time to pack your belongings is pretty much the only choice you have left.
Do your research on moving companies...