We all have heard the expressions, "It takes money to make money" and "Money talks." With all the bad news about real estate, we fail to listen to what "money" is saying. Money, and the buyers who represent money, in our market are talking, but who is listening?In the first 10 months in Sea Pines Plantations, 14 oceanfront homes have been placed under contract and 12 have closed.What is so significant is that from Oct. 1, 2004 through the end of 2006, only 13 closed. So in a short 10 months, Sea Pines oceanfront sales have surpassed 27 months of sales.For the past two years, we've read about doom and gloom, yet, the money people are buying. Maybe they believe in "Buy Now" and they are sending us a big message.The question is, Who will get it and take advantage of a perfect time to buy? 12/08/2007

Louisville is akin to other local markets throughout the country that while not setting huge rates of appreciation it is also not likely to fall victim to bursting bubbles.This was most recently reiterated by Lawrence Yun the chief economist for the National Association of Realtors"A national picture of the real estate market is just about as valuable as giving a national high temperature for the day".The following is an example featuring the Kansas City real estate market which in many rfespects mirrors the Louisville market.Although the Realtors report that the national median price declined 2 percent during the third quarter compared with a year earlier, the price in the Kansas City area declined just 0.7 percent, to $157,000.That difference speaks to the fundamental fact that Kansas... 12/08/2007

When contemplating the purchase of a condominium you need to become comfortable that the development compliments your personality, its maintenance fees fit your budget and its by-laws fit your needs.As a member of the condominium association you have certain privileges and responsibilities.  These are described in the by-laws of the condominium association.  Make sure you adequately research the development to make sure it is the right fit.Here are a few major points to include in your research as well as some terminology that you will hear as you complete your research.Keep in mind that condominium living is not that much different from an individual home except you share the cost associated with maintaining the common property.  So, if the roof needs to be replaced, all condo owners s... 12/07/2007

Ah, pricing your home to sell...  The market vs. the seller vs. the agent.  Where's the balance and who can you trust for advice and guidance?Let me start with a few 'truisms';  no matter how incredible your home shows, even in a great location, a fouled pricing strategy will cost the seller money.  Buyers almost never place their most important value on what you consider most valuable.  If you are hoping to price high and wait out the market, you are at risk for losing even more money in the end.  And finally, the market will produce a ready, willing, and able buyer who will ultimately determine the true value of the home.  Maybe...Let's look at these points and try to find a reasonable way to take them into consideration against the seller's needs and wants.  How can a fouled pricing ... 12/03/2007

Presently we are experiencing what many in both the media and industry circles term a buyer's market. Very simply, it is the first lesson from Marketing 101; when demand is high and supply is low, prices will increase, but when demand is low and supply is high, prices decrease. If you want to increase your price, you need to either increase demand or reduce supply. The challenge we face today revolves around the high number of people forced to sell for various reasons, and the perceived fall-out from loose lending practices. As a potential buyer in this market, you are afforded a number of advantages over the seller that typically are unavailable. Before we go any further, I want to address a common mis-conception the buying public learns from mass-media outlets and certain market guru... 12/02/2007

Lately, my sellers have been receiving numerous offers contingent upon the sale of the potential buyer's home.  In fact, the latest one requires a buyer to purchase the home of the buyers who have a contingency contract on the buyers who would like to buy my client's home.  Does that make sense?!?  If my buyer's buyers get lucky and sell their home, we may get lucky and eventually sell ours to the last buyer standing.  I had to chuckle a bit as the deal was explained to me, and I had a hard time suppressing outright laughter as I observed my clients' reaction to my explanation.  "Trust me, Mr. and Mrs. Client, I know what I am doing!" Rest assured, we politely rejected that offer, but I was left wondering what kind of agent would let their clients even contemplate such a convoluted deal... 11/10/2007

You won't find me 'ranting' too much on this site just because it is not the tone I would like to set for my blog, but here is one topic that has made me a tinge disagreeable; the rampant popularity of television, radio, and print media's fascination with investment property.For all of the concern about mortgage lending issues, sub-prime loan defaults, the declining dollar, and national and local economic woes, you would think the mass promotion of a complicated and challenging investment strategy would be tempered. Unfortunately, this is not the case and now we are facing legions of potential investors willing to fork over outrageous sums for dilapidated or otherwise faulted properties in an attempt to make the big bucks.I'll give it to you straight and easy...Virtually no one makes pr... 11/08/2007

Extreme Makeover: Home Edition is in town this month. They here because of one very special young man – Patrick Henry Hughes . Patrick is 19 years old, plays the in the University of Louisville Marching and Pep Bands, plays the piano (he began playing at the age of 9 months), plays the trumpet, and sings. What’s so special about Patrick? Patrick is blind and unable to fully straighten his arms and legs, which makes him unable to walk. With his fathers help (Patrick John Hughes), Patrick is able to participate in the Marching and Pep Bands. His father learns the routines for the marching band and pushes Patrick in his wheelchair while he plays his trumpet. Patrick has been recognized for several awards and has been featured on Oprah, ESPN, Sports Illustrated, and many others. Because of ... 11/08/2007

(I decided to copy this post over to AR from my Google blog.)  I'm always looking for a good place to throw in a cheap cliche and the current market in Louisville has afforded me another great opportunity; 'may you live in interesting times'. While this is actually an ancient proverbial curse, it seems quite apt to what we are seeing today in the Louisville area.For years, home owners, Realtors, mortgage lenders, investors, and other participants in the real estate market have enjoyed quite a boom in business and income. Unfortunately, certain aspects of fiscal responsibility were ignored, such as the value of good credit, the importance of access to a cash reserve, and the recognition that buying a home is just not for everyone. This perfect storm brewed under the radar until this past... 11/03/2007

Given the recent developments in the lending industry, coupled with the over-supply in the housing market, we find ourselves in a situation that some term a "buyer's market".  I want to give my take on the matter and see what other industry professionals have to contribute. I think this is a challenging issue that needs to be continually addressed with our buyer and seller clients, plus among real estate agents and mortgage lenders.  I'm going to explore the topic from the buyer's perspective first and I want to focus in on the new or inexperienced buyer because I think they are most likely to fall prey to skilled marketing or biased information. Housing is a major supply and demand-driven industry.  Prices fluctuate not only with inventory changes, but with nebulous factors such as con... 11/02/2007

Let me tell you that it was HOT here last weekend! This is my third year for traveling on down to the St. James Court Art Show. I took my Mom with me and with map in hand we figured out what end of the festival we wanted to start in. After circling around a bit I located a place to park for $10 in an alley close to 4th Street. After driving around awhile I was willing to pay the guy $20! The place was packed and if you want a good parking place you will need to pay a few bucks for it! Suddenly, the ice cold air conditioning in my car was something I yearned for all day! It was HOTas blue blazes about there. We walked for miles between wonderful art, delicious smelling food, musicians, crafts and jewelry treasures. Did I tell you it was HOT? Just like we were in New Orleans on a steamy d... 10/08/2007

Glen Oaks is located in a gorgeous part of Louisville in the northeast part of Jefferson County and even spills over into Oldham County. Just east of The Villages of Springhurst, Glen Oaks is across the newly developing Norton Commons—a community that's sparking interest all over the city. The neighborhood has lots of rolling terrain, which allows for many fall away lots. You'll find a good number of walkout basements in Glen Oaks. 09/19/2007

If you are considering a move to or from Kentucky I would be more than pleased to assist! Please feel free to visit my website at www.williamsellslouisville.com for free buyer & seller information and informative links! Mention Active Rain and I will pay your broker admin fee at closing! 08/24/2007

Broeck Pointe is a small neighborhood near Brownsboro Farm and Barbourmeade of Highway 22 in Louisville's East End. The subdivision began in the mid 1970s with homes still being built 10 years late. Like the surrounding area, Broeck Pointe has its share of mature trees and lots between 1/3 and 1/2 an acre. Home values have risen steadily in this desireable area. This well-maintained two-story is fairly typical of the homes in Broeck Pointe. Homes like these are currently selling at around $240k. 07/07/2007

As of June 26th there were 6527 active listings listed in the MLS for Jefferson County representing a 8.7 month supply of homes. 5.5 months is considered optimum and to be a balanced market. As can be seen from the list below the absorbtion rate is very area dependent with St Matthews and the Highlands being a sellers market and most other areas leaning toward a buyers market.   Louisville Market Areas                                                         Active Listings Months Inventory (Absorption Rate)                    All of Jefferson County                                                             65278.71Area 1 - Downtown West Louisville123010.95Area 2 - Highlands Germantown  4564.32Area 3 St Matthews 3634.19Area 4 - PRP Valley Station                                        ... 06/26/2007

 So many blogs flying around Active Rain. So much input, opinions, and feedback. Do you actually listen?  Do you take some things with a grain of salt? Possibly try someone's suggestion?  No matter in a slow market or even in a busy market, you should listen and pay attention. No, you don't need Dumbo like ears to be successful for listening purposes. Where am I going with this? I have been on Active Rain since October 1st, 2006. I have read so many great posts, have heard so many great suggestions. Sometimes my head just spins and I haven't had the time to implement some of what I have read. We should write a post, best marketing ideas from Active Rain. In any case, after reading a post by Tim Maitski, Hello, My Name Is Tim. Having Fun With Name Tags, it really put things in perspectiv... 06/26/2007

Springhurst is one of Louisville's premiere neighborhoods with wonderful options in housing, shopping and entertainment. In truth, the Villages of Springhurst are a collection of a number of smaller subdivisions with names like, Felsmere, Moorfield or Springbrook. Within the Springhurst community is another wonderful neighborhood called White Blossom which is covered on its own page. This desirable area is located between Highway 22 and Westport Road on both sides of Hurstbourne Parkway, just north of Anchorage and south of Prospect.  There are many stately homes, like this one, in Springhurst.   06/25/2007

White Blossom is one of my favorite neighborhoods in all of Louisville and I should know, I live here. Not technically considered a Village of Springhurst, White Blossom is located within the area of Louisville most people consider Springhurst. Just east of N. Hurstbourne Parkway, this subdivision is still within the Gene Snyder Expressway. Close to shopping, entertainment and the expressways, White Blossom has a lot going for it.Most of the homes in White Blossom are traditional two-stories with a few ranches sprinkled throughout.     06/25/2007

Brownsboro Farm is a small neighborhood off Highway 22 near Barbourmeade, Manor Creek and Ten Broeck subdivisions in Louisville's east end. Homes are approximately 20-40 years old and are comprised primarily of traditional, roomy two-story designs. Prices are quite reasonable for homes in this area when compared to similar homes in other parts of the city, for example, Douglass Hills. Lot sizes are decreased a bit since then so you can find larger pieces of land in neighborhoods like Brownsboro Farm. 06/23/2007

The U-S Environmental Protection Agency wants to toughen the federal clean-air standard for smog, and Louisville is expected to be affected.  A plan E-P-A administrator Stephen Johnson proposed yesterday for ozone levels could keep the Louisville Metro area out of compliance until at least 2020. Communities that fail to meet federal ozone standards can find it harder to attract new industries or expand existing ones. They also must go through more rigorous transportation planning. Based on the most recent E-P-A data, 24 counties in Kentucky and 26 in Indiana are among those nation-wide that might have to further cut ground-level ozone. The lung irritant is especially troublesome to children, the elderly, and people with medical problems. The Louisville Metro Air Pollution Control Distri... 06/23/2007