Stephanie Mattingly on Louisville, Kentucky Real Estate

Be sure to check back on Saturday evening to view/hear this home’s Online Open House - you won’t be disappointed!

The National Association of Realtors just release their third quarter report on Tuesday confirming what we have been seeing locally in the Louisville, Kentucky real estate market.  First, that there is hope on the home-price front. Thirty cities in the third quarter saw median home prices rise from the same period a year ago (see list below).   However, that still leaves 123 metro areas where home values are falling. Nationally, the median home price fell 11 percent to $177,900 from a year ago.

After viewing the 30 metro areas below you will notice most of them are located in the midwest.  These areas did not have the large appreciation rates that Arizona, Florida, California, and Nevada had.

Here is the list of the 30 cities with the local median price of a home and its percentage rise in value from a year ago:

1. Cumberland, MD-WV ($122,100) 19.2%

2. Davenport-Moline-Rock Island, IA-IL ($115,600) 14.3%

3. Oklahoma City, OK ($144,100) 9.1%

4. Shreveport-Bossier City, LA ($152,300) 8.6%

5. Cedar Rapids, IA ($145,700) 7.6%

6. Bismarck, ND ($157,200) 7.5%

7. Ft. Wayne, IN ($102,500) 6.9%

8. Buffalo-Niagara Falls, NY ($119,700) 4.8%

9. Jackson, MS ($141,200) 4.6%

10. Durham, NC ($184,300) 3.6%

11. Charleston, WV ($132,000) 3.4%

12. Springfield, IL ($114,400) 3.2%

13. Beaumont-Port Arthur, TX ($133,600) 3.1%

14. Yakima, WA ($158,400) 2.7%

15. Manchester-Nashua, NH ($237,600) 2.6%

16. Fargo, ND-MN ($142,100) 2.4%

17. Florence, SC ($121,300) 2.4%

18. Waterloo/Cedar Falls, IA ($118,200) 2.4%

19. Memphis, TN-MS-AR ($129,300) 2.2%

20. Indianapolis, IN ($120,200) 2.0%

21. Little Rock-N. Little Rock, AR ($132,500) 2.0%

22. Denver-Aurora, CO ($229,100) 1.8%

23. Pittsburgh, PA ($124,600) 1.5%

24. Des Moines, IA ($156,600) 0.8%

25. Kennewick-Richland-Pasco, WA ($172,200) 0.7%

26. South Bend-Mishawaka, IN ($88,500) 0.6%

27. Dallas-Fort Worth-Arlington, TX ($150,500) 0.2%

28. Houston-Baytown-Sugar Land, TX ($160,600) 0.2%

29. Louisville, KY-IN ($135,600) 0.1%

30. Omaha, NE-IA ($137,600) 0.1%

A newspaper finally wrote a positive article regarding real estate so I had to jump at the chance to expose it. If you hear a tad of frustration in my voice then you are correct! Over and over again media paints the picture of doom and gloom in certain subjects and I feel like real estate has been in their “Top Five Most Negative News We Can Print” stage. This stage feels like it has been going on for over a year. Even Louisville, Kentucky’s Courier Journal has been on this band wagon. So without further ado here is The New York Times‘ article from today’s business section:

Unexpected Jump in Home Sales in February

It is extremely good news that the harder hit areas (Florida, California, Ohio, etc) are seeing an increase in sales. Since buyer confidence is at an all time low it helps (even Louisville, Kentucky real estate) tremendously when media prints GREAT news. Investors take note and start spending and buyers start buying because they feel like the bottom may have already hit…they get nervous that they won’t get the “good deal.”

What might Louisville, Kentucky real estate see from this news? It is hard to say due to the fact that we are in the “spring” market which typically has more sales anyway. However, I believe the areas that were harder hit will see the most sales rather than our market. But I would still enjoy seeing/hearing positive real estate news from our local media….actually any positive news would be a nice change.

In July 2007 I created an innovative marketing approach to better serve the Louisville, Kentucky real estate market…an Online Open House narrated by me with still photos highlighting the particular home for sale, area, and neighborhood… a first for the Louisville, Kentucky real estate market. Buyers immediately get a feel for the home and know why the sellers love their house and its features.

Once the tour is complete I get maximum internet exposure to my client’s home using YouTube, Craigslist, Postlets, Google, and many, many more. In fact, one buyer wrote a contract after viewing the Online Open House without EVER viewing the home personally. The couple felt like they knew it already and loved the area. We closed 2 weeks after the home was listed…WOW!

The tours impressed HGTV’s executive producer Eve Falcon. In May 2008, Eve called to see if I would be interested in auditioning for “My House Is Worth What?” episodes in Louisville, Kentucky. Long story short I was selected and featured in November, December 2008 and January 2009 shows (Check on my website www.stephaniemattingly.com for full episodes).

And most recently three business reporters, two from the Louisville’s Courier Journal, Alex Davis and Bill Wolfe, and one from the Home Builders Association of Louisville featured me in articles related to my marketing expertise. Click on the following three links to view the full articles:

Bill Wolfe Article

Alex Davis Article

Home Builders Association of Louisville Article

If you would like to speak with me directly on real estate matters feel free to call me anytime on my cell at 502-751-3326.

The year of 2008 is closing on us soon so without further a do I wanted to brag a little on our city’s “Lists” of accomplishments (I am not counting the Ryder Cup’s success however that puts the icing on the cake). While these “Lists” do not spell out all that Louisville has to offer or all of its accomplishments this year, it does give us some national recognition. So here goes:

• We Are Ranked 7th in the “Best Towns of 2008″ by Outside Magazine.

• We Are Among the “25 Best Cities For Raising a Family” by Best Life Magazine.

• We Are #1 “Most Livable City in America” (large city category) by the U.S. Conference of Mayors.

• We Are One of the “Most Improved Cities for Cycling” by Bicycling Magazine.

• We Are Among the 100 Best Communities for Young People.

• We Have the “Best Tasting Water in America” by the American Water Works Association which judged Louisville’s water “Best of the Best.”
• We Are One of the “Top 10 Underrated U.S. Cities” by Sherman’s Travels.
• We Are One of the “Top LOWEST Risk Metropolitan Markets for Foreclosure” by First American Core Logic quarterly report

If these recognitions have inspired you and you would like to learn more about Metro Louisville, Kentucky feel free to email me at stephaniemattingly@remax.net or call me on my cell at 502-751-3326.

I know I keep repeating myself over and over again regarding the metro Louisville, Kentucky real estate market BUT that is only because I consistently hear the same thing over and over again from buyers. So when the opportunity arises to publicize statistics that clearly show how Louisville, Kentucky fares I jump at that chance.

In this case, the great news comes from the First American Core Logic quarterly report. You already know by the title of this post that Louisville, Kentucky made the Top Ten LOWEST Risk Metropolitan Market For Foreclosures. So here are the lucky cities:

1. Dayton, Ohio
2. Indianapolis, Indiana (Carmel)
3. Austin-Round Rock, Texas
4. Omaha-Council Bluffs, Nebraska/Iowa
5. Wichita, Kansas
6. Louisville-Jefferson County, Kentucky
7. Charlotte-Gastonia-Concord, North Carolina/South Carolina
8. Raleigh-Cary, North Carolina
9. Gary, Indiana
10. McAllen-Edinburg-Mission, Texas

Just in case you are as curious as I am here are the unlucky Top Ten HIGHEST risk metro market for foreclosures:

1. Riverside-San Bernardino-Ontario, CA
2. Los Angeles-Long Beach-Glendale, CA
3. Sacramento–Arden-Arcade–Roseville, CA
4. Miami-Miami Beach-Kendall, FL
5. Oakland-Fremont-Hayward, CA
6. San Diego-Carlsbad-San Marcos, CA
7. Santa Ana-Anaheim-Irvine, CA
8. Stockton, CA
9. Phoenix-Mesa-Scottsdale, AZ
10. Bakersfield, CA

For those of you who know me well you will understand why I love this article regarding home design and décor.  It simplifies the process which I so desperately need (or I just call my good friend and local interior designer, Elaine Thomas..her number can be found in my directory of businesses I love in Louisville, Kentucky). 

Home Design: Managing the Snowball Effect
By Marni Jameson

When my kids were little, we used to read a book called “If You Give a Mouse a Cookie” by Laura Joffe Numeroff. In it, a demanding rodent wants a cookie, then a glass of milk to go with it, then he wants a straw for the milk, and a mirror to see if he has a milk mustache, and so it goes, until this two-ounce dictator has driven one indulgent boy to exhaustion.

This is exactly like decorating. One decision detonates another until you unravel like a cheap throw rug.

Until recently, I confronted my own mouse-and-cookie problem every day while facing the bathroom mirror. No, I wasn’t fretting about body image or Botox. I wasn’t even peering into my soul to reflect upon guilt or failure, though I could have gone any one of those places. This reflection was more superficial, and literally about the mirror. It was the wrong shape, had the wrong frame, and was just as wrong as O.J. Simpson. I needed a new one.

But like the mouse getting his cookie, if I got a new mirror, I’d need something else. I’d need to buy two, one for over my husband’s sink. But before I hung them, I’d want to paint the wall, or maybe wallpaper. But that would mean picking a wall color, which would mean choosing drape fabric. The drape fabric would need to work in the adjoining master bedroom, because master suites must share unifying window treatments it says on page three of the U.S. Constitution.

The drape fabric would also need to coordinate with the bedspread, which I plan to change to I’m not sure what. And, back to the bathroom, I’d really like to install a great ceiling light fixture, but then I’d have to choose the metal finish, which should go with the mirror frame, which must go with the cabinet hardware. And if I changed the knobs would I also need new faucets?

This is why so many rooms never change.

Decorating decisions can spiral. So often when I consider redecorating a space, I soon feel like an umbrella in a Tsunami - under equipped and overwhelmed. Or like the mouse’s friend - wiped out.

When I finally grew sick of facing the mirror and reflecting on my cowardice, I bit the cookie and hired a tile guy to use the same tumbled marble I’d used on the bathroom floor and counters to craft frames for new mirrors over each sink. A glass company custom cut mirrors to mount inside the marble-tiled frames. Whew! Next I found some antique copper colored wallpaper that looked like faux finish on plaster. It will warm up the room, add character, and is neutral enough that it won’t limit my fabric options.

Drapes are next on my list, along with new bedding, just as soon as I gather more courage.

Next time your decorating decisions start to snowball, here’s how to get control:

• Divide and conquer. True, to achieve great design, everything needs to work together. But don’t let that overwhelm you. Break the process down into all the steps you’ll need to make. Write a list, then tackle one task at a time, keeping in mind the big picture as you go.
• Think layers. Start from the walls and floors, and move in. First, choose flooring, wall color and tiles in colors you can build on. Next layer in window treatments, furniture, and accessories. I got stuck by starting with accessories, hanging framed mirrors. Like artwork, these should come last, unless you build them in as part of the background, as I did once I installed tiled mirror frames on the wall.
• Watch that first step. The first decorating decision you make in a room is often the hardest because it sets the tone, and has a ripple effect on every subsequent design decision. In home design, fools often rush in. Take your time, think of the future impact and choose well. Choosing should get easier as you go — unless you do something impulsive, like buy a red leopard-print carpet then get stuck.
• Spend wisely. The more expensive something is and the longer you plan to keep it, the more neutral and timeless it should be. Be more trendy and personal with less expensive touches that are easy to change. In a bathroom, for instance, pick tile and cabinets you (or the next homeowner) won’t tire of. Add pizzazz with towels and floral arrangements.
• Think of it as an outfit. Dressing a room is like dressing yourself. Start with good basics. Be sure the wardrobe staples are well constructed, classic and tailored. Then accessorize with the scarf, the shoes, the jewelry. Or the vase, the drape, and the perfect mirror.

Marni Jameson is a nationally syndicated columnist and author of “The House Always Wins” (Da Capo). You can learn more about her and her book - which can be a nice housewarming gift or a tool to show buyers some great ideas on turning a house that isn’t quite right into perfect, at www.marnijameson.com.

I feel I talk myself “blue in the face” to anyone that I encounter regarding our local real estate market. On this subject it seems most people listen to the national media to get their opinion. Real estate market info is local so to get the most accurate information you should contact your Realtor or local Board of Realtors for the current statistics for your neighborhood.

How ecstatic I was to read a positive article in all places but our very own Courier- Journal. It was on the front page of the Forum and written by Paul Coomes (economics professor at U of L), John Burgard (economics major at the U of L), and David Heintzman (chairman of Stock Yards Bank and Trust). The article speaks for itself. Here is the link if you are at all interested in our market and the basic truth told by someone other than a home builder, realtor, or mortgage broker: Click Here

Also I’ve attached a map of Louisville that shows the increase/decrease of median home values in specified areas. There were only 5 areas with increases for this year and those are:

• Biggest Gain goes to Area 20 (Oldham County North of I71 which includes Prospect, Goshen) at 4.6
• Area 9 (Jefferson Co Prospect, Anchorage, Lyndon, Upper River Road) at 3.5%
• Area 3 (Jefferson Co St. Matthews, Crescent Hill, Brownsboro Road) at 2.4%
• Area 7 (Jefferson Co Fern Creek, Highview, Okolona,Beuchel) at .8%
• Floyd County, Indiana at .5%

Have a great day and spread our market’s good news…it benefits all home owners and buyers.

Stephanie

Through this site I will be bringing you valuable information about buying and selling your home and real estate in the Louisville, Kentucky area.

From this site you will be able to listen to my podcasts and read messages I post about real estate.

I’m really excited to be able to share this information with you and I hope you will find it interesting and valuable.

Please send me your comments and suggestions on real estate topics that are of interest to you.

Stay tuned, there’s a lot more to come.

Stephanie

My Podcast Alley feed! {pca-a6c6e4dc6832fdc3a45df3580ad5b0aa}