Consumer confidence is an important component of real estate sales. You’ve seen the ad on TV were the little boy says to his grandfather “I want to have a house just like this someday.” The grandfather, aware of the ups and downs of the real estate market, says, “I hope so, son.” The grandson has the mindset of many people these days.

Any Realtor® working in our city is very confident that there will always be affordable homes in Louisville. We have so much going for us that people can buy with confidence that the economy will remain vital and make them feel good about buying a home here. Now, the rest of the country is catching the confidence that Louisville residents have long felt.

A recent survey by Fannie Mae, the mortgage backer, in March 2012, shows that 73% of the people surveyed want to buy a house now. This figure is up 3% since February 2012. Half expect rents and a third expect housing prices to increase in this time frame as well. Forty four percent of these same respondents were confident that their own finances were getting more stable and will continue to get even better over the next year.

As Doug Duncan, vice president and chief economist of Fannie Mae, said, “Conditions are coming together to encourage people to want to buy homes,” said. “Americans’ rental price expectations for the next year continue to rise, reaching their record high level for our survey this month. With an increasing share of consumers expecting higher mortgage rates and home prices over the next 12 months, some may feel that renting is becoming more costly and that homeownership is a more compelling housing choice.”

People are comfortable enough to make the commitment to become homeowners even though in Louisville as in most other cities, the supply of houses is in excess of a balanced market, where four or five months’ worth are available. They know that it still take longer to sell a home than in the past and that they cannot expect to make a killing on the eventual sale. Still, they want to take the plunge.

Fannie Mae itself, while acknowledging some economic recovery over the past months, asserts that growth has is slowing down. In an article in MarketWatch, Duncan asserted that the increase in consumer spending has outpaced the growth in income. This indicates that consumers are dipping into savings, not spending disposable income.

In a related development, Bankrate reports in its March 22, 2012  edition that mortgage rates, at historic lows for over year, are inching upwards. A payment on a 30 year $165,000 loan was up $13.50 a month. Economists predict that the potential of rising rates may encourage those potential buyers who were waiting till mortgage rates are as low as they can be will decide that the time to buy is now.

If you are ready to join the 73%, give me, Mollie Younger , a call today. I can show you an affordable home in Butchertown, St. Matthews, The Highland, or the other exciting neighborhoods of Louisville. Contact the Younger Group Realty because as our tagline says: We know Louisville.

Louisville proves itself time and time again to be a great city for buyers and sellers. On the buyer’s side, you can get a lot of house for the money. On the seller’s side, the city has so many magnets to pull in buyers with different wants and needs that it is important to price the house to sell and make the buying decision a no-brainer. We have

• Charming older homes and condos in historic Butchertown, where you can buy hometown sausage and art treasures on the same trip…
• Nightlife in The Highlands, where you can live close enjoy to the action to walk home after a night of fun…
• Suburbia in St. Matthews, with shopping galore…
• A rural atmosphere in Fern Creek, Middletown, Bardstown, or Shelbyville…
• Renovated downtown lofts and condos, where you can enjoy history, convenience, and a happenin’ entertainment scene all in one…

The list goes on, but with variety like this, you don’t want to let your buyer go if your home matches the type of residence they want.

At the moment, there are 7,754 single family homes for sale in Louisville; 782 sold in August, 2011 for an average price of $168,859. The median price was $139,200 so there were many homes in the affordable range for first time buyers as well as move up buyers.

If you are selling your home, you may make the mistake of letting things besides the market value influence how you agree to let your agent price it. When you list your home, your Realtor® will show comparable sales data from homes in your neighborhood. Your home may outshine other on the block with its features, curb appeal, and condition but you take risks if you price too high. Four things often come into play:

• You are hung up on how much you paid for the home or how much you put into it.
• Your home has many memories that make you think your home is more valuable.
• You owe more on the home than the going rates in the area and you forget that buyers will not overpay to compensate your circumstances.
• Your home has unique features you think will be in demand.

You may not want to hear this, but dropping the price is still the key technique to moving your home. As Zillow, the property website, found in a recent survey, home sellers are unrealistic about how much their home is worth. They often insist that the agent price the home too high and assume that their home will beat the odds and appeal to buyers at the price point they set.

If your price too high and have a home with stand-out features, your home may sell – in time. That is a big risk though. As the old adage goes, “strike while the iron is hot” in home pricing. Buyers like homes fresh to the market. The longer a home is on the market, the more people think that “something is wrong with it.” Most people know that home sales have been down, but home shoppers think this way any anyway. You may want to try a higher price but a series of price cuts sends out a bad message to your buyers.

If you want or need to move, why delay? The high home prices of the past may have made you expect that you will make money on your home when you sell it, but don’t let that old expectation block your chance to move on the home you want, the one that meets the needs of your family now.

The Louisville market might be best for buyers, but you have a good chance of selling if you are realistic. My team and I at Younger Group Real Estate can list your home and show you affordable homes in this great city in Butchertown, St. Matthews, The Highlands, and other great Louisville neighborhoods. We know Louisville.

In St. Matthews, a bit of Louisville history passes through every day, as CSX trains whiz by.  Railroad crossings were at times a nuisance to hurried drivers, but otherwise did not disturb the residents.  The area was considered a quiet zone, where trains did not blow their horns as they passed through.  In 2008, the railroad announced that new federal regulations required that the six crossings in St. Matthews be upgraded to prevent drivers from circumventing them by driving around them.

In the 19^th century, Louisville was a railroad town and several major railroads transported coal, commodities, and passengers to points south.  Over time, the local railroads were bought and sold and ultimately became part of the CSX system, which runs through the city.  Needless to say, the Louisville where the tracks were laid is not the Louisville of today.  Suburbs like St. Matthews emerged from farmland.  From 1910 to 1946, the city was the epicenter of the St. Matthews Produce Exchange, once the second-largest potato shipper in the country.  Ultimately, St. Matthews developed as a major shopping district and an upscale residential district.  Six railroad crossings remained in the city, and about 30 trains move through the city each day. 

As St. Matthews Councilman Richard Tonini explained it, “Right now the gates come down, one gate for north bound and one gate for south bound and what’s happening is cars are going around the gates.  Now what we’re going to do is we’re going to put in two additional gates so that gates come down and touch each other so you can’t go around the gates.”

The railroad estimated that the projects would cost $200,000.  The City of St. Matthews paid $10,000 to get the projects started, but the railroad did not respond.  In June 2010, the Federal Railroad Administration lifted the quiet zone, much to the dismay of residents.  For four months, the residents had an unpleasant look back at the city’s early history as 30 trains loudly announced their presence, day and night.

At this point, all required work at St. Mathews Avenue, Clover Lane, Westport Road, Thierman Lane and Hubbards Lane has been completed, but work at the Chenoweth crossing needs to have the new gates installed.  The police department will provide additional enforcement at that location until the gates are in place. The city applied for a waiver to reinstate the quiet zone.  In early October, the Federal Railroad Administration agree to temporarily restore the quiet zone.  CSX was granted a 21 day adjustment period for their drivers to stop blowing their horns.

Final cost on the project will be $150,000, including the installation of median barriers and new gate, with the money coming from the City St. Matthews and the District 7 Neighborhood Development Fund. When the last piece of the project is complete at Chenoweth, St. Matthews will once again be a quiet zone.  Area residents can respect their history and again sleep soundly without interruption.

Contact Mollie Younger of Younger Group Real Estate for interesting, affordable St. Matthews properties! We know Louisville!!

If you’re sitting on your porch in Louisville, you may be enjoying today’s 70° weather, but fall is coming, then the winter.  If you would like to sell your home and move to a new one, you may lament that the time to do it for this year may have passed.  After all, real estate season traditionally winds down when kids go back to school, right?  Wrong.  Homes can actually sell in any season.  

Traditionally, there may be more people looking in the spring and summer, but there is always traffic from people who are transferred into a great city like Louisville and from other serious buyers who want to make a change. This year, with mortgage rates as low as 3.8% on 15 year loans for people with good credit and housing prices low, the stage is set for heavier traffic than usual. 

Often, once school starts, you may be reluctant to move since a new home or new neighborhood will disrupt the school year for your kids.  Ironically, children not only adjust to new circumstances (often more easily than adults), but may actually receive more help in from teachers when they enter the class midyear.   

As the fall moves toward winter and the holiday, you may decide to postpone moving so as not to disrupt your holiday routine.  While overwhelming decorations might turn off buyers, low key decorations actually give your home a welcoming atmosphere.  Motivated buyers may actually plan their house hunting around times of the year when they have extra days off or lighter days at work.

In reality, having your home priced right is one thing that will help it sell no matter what season or time of year it is.  When your real estate agent offers you direction on how to price, listen up.  The pricing advice will be based on comparable values in the neighborhood and on the condition of your home,.  Area statistics are showing that homes are selling for about 93% of their asking price in the part of St. Matthews near Clifton and Crescent Hill, vs. 96% in the part near Anchorage and Douglas Hills.  If you base your pricing expectations on what you see on line for the whole area of St. Matthews, you may be surprised.  Keep this in mind – youu may not get the same price you would have a couple years ago, but when you go to buy, you will find much more house for the same price. 

The other important factor is demand in the neighborhood.  Currently, nationwide, homes in higher price brackets are staying on the market longer than lower prices homes, but than many other factors come into place.  In sections of Downtown and Old Louisville, home prices have an average price of $90,650 and a median price of only $45,375, but homes on are the market an average of 144 days.  In the Butchertown/ Highland/ Germantown area, prices average $179,727, have a median price of $161,261, and sell within 55 days.  The numbers do not mean that you should hold off making a move, but you should chat with your agent for a deeper understanding of what the statistics mean.

If you want to sell your home now, don’t hesitate.  A perfect buyer could be waiting for you.  Homes can sell in any season, and this could be your time.

For some insight into how your home might sell, call Younger Group Real Estate! We know Louisville!! Our team will be there every step of the way.

Being a healthy hometown is part of Louisville’s agenda.  Since eating locally grown food is part of what makes for healthy living, farmers markets throughout the area are making a difference in the shopping habits of Louisville‘s citizens.  At least 23 Jefferson County farmers markets, plus a host of roadside stands, offer food grown nearby or even onsite to insure the food is fresh- unlike food that makes a long journey across county from faraway farms to grocery store chains.  Eating fresh and local in Louisville is easy to do.

Unlike  regular grocery stores, which are often open everyday and which stock the same food all year long, farmers markets are usually open limited days of the week, and perhaps only part of the year.  Their offerings depend on what is in season in the area.  Shoppers who are serious about eating local can plan ahead by referring to the Kentucky Harvest Calendar and by checking out the times that local Farmers markets are open.

The St. Mathews Farmers Market at 100 Shelbyville Rd., for example, is open on Saturdays from 8 am to noon.  From May 15 to September 25, there are also special events like cooking classes and live musical performances to  make  going to the market more than a shopping trip.  Some vendors offer foods they have prepared that patrons  can eat onsite at shaded picnic tables.   Consumers can talk with the actual growers and ask about growing procedures and the type of pesticides used, and establish a connection with the people who feed their families.

Local markets offer plenty of variety.  The Bardstown Road Farmers Market, now in its 19^th year, offers a wide assortment  ”fresh and nutritious fruits, vegetables, honey, world class dairy and goat cheeses, pastured beef, pork, lamb, chicken, bison, rabbit, free-range eggs, prepared foods, i.e., bread, cakes, cookies, pies, jams, jellies, made on site omelettes, potted plants and fabulous cut flowers.”  Open on Saturdays year round, the market is also open on Thursday from June through September.

Locally grown food also helps the area economy by keeping the revenue local and keeping family farms going.  A noted by America’s Farmland Trust, an organization that promote the local farmers market movement, 91% of America’s fruit and 78% of its produce is grown near metro areas.  Farmlands on the outskirts of cities are often the target of real estate developers.  Without the support of local buyers, family farmers will feel that they have little choice than to sell their land.

AFT promotes it message of No Farms, No Food to local restaurants, grocery stores, school cafeterias, institutions, and local communities to encourage the use of food grown locally. This year, American Farmland Trust is holding their first Dine Out for Farms^TM Week from October 1-16^th to promote the use of locally grown food in area restaurants. 

The Kentucky Department of Agriculture is emphasizing the importance of local farms by naming September Agritourism Month.  “I invite Kentuckians of all ages to join me in celebrating Agritourism Month,” Agriculture Commissioner Richie Farmer said. “Go on an agritourism adventure this fall at a farm destination near you.”  Right in Jefferson County, there are vineyards, corn mazes, and  historic plantations, in  addition  to the open air markets, to remind citizens of the importance of agriculture in the past and future of the Kentucky Economy.    

Louisville offers the best in urban delights, yet has locally grown food readily available to insure a healthy lifestyle. Eating fresh and local in Louisville is easy to do.

If Louisville sounds like your kind of place, call Younger Group Real Estate! We know Louisville!! Our team will be there every step of the way.  Coming soon to our website – a special first time home buyer’s page!

When I was married recently, I wore a lovely white lace dress, but my shoes were a sexy periwinkle blue.  They not only added a fun touch of color, but proved to be comfortable enough to transport me through the streets of Paris. 

I thought about my magic blue shoes this weekend as the Louisville Home Builder’s Association is holding their annual Tour of Remodeled Homes on Saturday, August 14^th and Sunday, August 16.  This offers potential buyers a wonderful chance to see some refurbished properties our walkable city.  Sponsored annually for the past 25 years, the tour is great idea generator if you are looking to remodel your own home for your own enjoyment or for resale.  For potential buyers, the tour spotlights some the best neighborhoods in east Louisville.

Included on the tour are 3 homes in Cherokee Triangle, and 19 more in St. Matthews , Norbourne Estates, Crescent Hills, Rolling Fields, Highlands, Middletown, Beechwood Village, Hills and Dales, Douglass Hills, Jeffersontown,  Hurstbourne, and the Seneca Park and Wolf Pen Branch areas.  (Visit the clicakable map at 2010 Tour of Remodeled Homes to see exactly where the homes are.)

Some of the homes on the tour were built within the last few decades, while others are historic. One Cherokee Triangle property, for example,  was a century home that required special approval from the Metro Landmarks Commission as it was in a historic preservation district.  

Regardless of the age of their home, the owners of all the homes on the tour preferred to stay in their neighborhood rather than move. As a result, 9 upgraded the bath,13 the kitchen, 7 a deck, porch, or sunroom, and 7 the family room.  At least 13 added an addition.  Should the families move, they will see a return on investment for much of their cost, especially on the kitchen, bathroom, and deck enhancements.  These improvements will pull future resident to the neighborhoods.

Maybe you will be able to catch the tour in person or look at the renovations on line..  In any case, I will walk you through your real estate transaction in any neighborhood in Louisville, whether you are looking for a historic home or new construction – or anything in between.

We know Louisville!  Call Mollie with the Blue Shoes at Younger Group Real Estate today to put a lifetime of neighborhood knowledge at your disposal whether you are buying or selling.