Man Caves?

According to a recent article in The Washington Post, although traditionally in real estate purchases women are frequently given the pleasure of decorating, many men are becoming increasingly interested in the task. And specifically enthusiatic about claiming a portion of the home for their own space and use. Traditionally, referred to as a "man cave", these spaces are often becoming much more elaborate, with bars, and bathrooms, and basements designated for him. Deemed a "mantown", by some.

We are seeing this here in Louisville, on a smaller scale, as buyers, and sellers alike look to find designated space in the home, for the "man of the house". Whether it be a spare bedroom, or basement, or still some are left in the garage with no heat. Whatever the space may be this is a new shift and trend in real estate you may soon notice coming to a house near you!

To read more about this real estate trend, follow the link below:
Men Want their Own Space

Latest Home Prices on CNN

Louisville, KY experienced growth during the fourth quarter of 2006 compared to other markets which did not, according to the National Association of Realtors. Our city is continuing to remain stable across the board, as compared to a decrease or fall in the housing market. As you can see, 73 markets of the 149 reported a decrease, our city was not one of them, as the media may imply. While the national average was a 2.7% decline for the fourth quarter of 2006, the Louisville market experienced an increase of 2.2% during the fourth quarter. Buyers are continuing to buy and sellers continue to sell, those conditions have changed somewhat, however the market is stable.

For more information on this article, and the other 149 reported markets, click here:
Latest Home Prices-fourth quarter 2006

Is it a "Good" Time to Buy?

Have you heard a friend, relative, or even REALTOR, say to you "It's a Great time to buy real estate!"? It is a common phrase, and you may wonder its validity as February is upon us, and often many are looking to buy and sell in the upcoming spring months.

Consider these facts from the National Association of Realtors (NAR):

As a buyer there have never been more homes on the market for you as a buyer to choose from. Inventory is at an all time high. Additionally, interest rates are at their lowest in a 40 year period.

Consider these major driving forces as a buyer. You have your pick of a home, and additionally your home mortage rate couldn't be better. So, what do you think? Is it a "good" time to buy real estate?

For more information on the article from NAR visit:

Its a Great time to Buy a Home

Do Home Prices Out-Pace Pay?

While we know that Louisville, KY is not one of the hot spots of real estate, there are studies that show that as homes appreciate it becomes difficult for individuals to afford purchase prices on only one income. Quoting a recent article in the Louisville Courier-Journal, for a potential homeowner to afford the median home price of $142,500 (2006) they would need to make an average of $48,000. However the median income for a worker in the metro area in '05 was $28,000.

While this may seem to indicate that homeownership is out of reach. It is not as far as it may seem. For instance, there are many affordable and convenient areas of Louisville for a first time homebuyer below the $142,500 price point.

In addition, a first time homebuyer is often eligible for government loans/grants, such as an FHA loan. Or a first time homebuyer may request the seller to pay a portion of their closing costs and prepaids.

There are affordable methods of placing yourself in a home. To find out more information contact us. Read more about Prices Out-Pacing Pay

Louisville Home Prices

New Tax Law for Home-Owners

In your mailbox you are likely being to receive your W2s, 1099s, and other various tax statements. While its January and you may or may not file your taxes for a while; you might want to make sure you read more about a tax law which was signed into effect at the end of 2006. It may benefit you as a homeowner and make tax time a little easier. Click below for more information:

New tax law tweaks home-buying math

The Market Watch

Keep watch for what's happening in the Louisville, KY Housing market and other valuable articles. According to the Louisville Board of Realtors, there were 1229 purchases in November of 2006 (up from Nov. 05: 1187). In 2007, there will be thousands of homebuyers each month to purchase. Be informed when you purchase. Look here for information on falling interest rates.

Interest rates fall to lowest level since October 2005, trade group reports.