Mortgage - Debt Loans - Crisis of U.S. Economy 2009 Local expert available to comment on mortgage market crisis How is the national credit crisis affecting your small town or city today?  This is a challenge for you and you are faced with answering questions related to this in some form or fashion.  I've worked in the mortgage industry for 15 years, and I've funded over $70,000,000.00 in loan volumes in my career - and I've seen this market hit many highs and survive some tough lows.Here are some of the questions I know readers are considering, and I would be happy to lend my experience and expertise to help answer them: What is the "meltdown" that I'm reading about in the headlines? "This refers to a culmination of factors that has led to massive tightening in credit standards among le... 04/15/2009

  Jeff Johnson, REALTOR (502) 551-4295 8 Tips to Guide for Your Home Search 1. Search the local MLS. Decide what features you most want to have in a home, what neighborhoods you prefer, and how much you'd be willing to spend each month for housing. Go to www.louisvillehomeconnection.com .  There is a Home Search button on the top left side, click on it.  You will then be asked a few questions and then BEGIN YOUR SEARCH.  2. Be realistic. It's OK to be picky, but don't be unrealistic with your expectations. There's no such thing as a perfect home. Use your list of priorities as a guide to evaluate each property. When you are on the www.louisvillehomeconnection.com website fill out the wish list form, then Jeff can be on the lookout for you.3. Get your finances in order. There Review your... 03/31/2009

I was so eager to blog I forgot one of the things I promised to blog about, statistics. Here are the latest sales and listing stats, but if my current attempts to find homes for my first time buyers is any indication of the market, we are really moving some properties.  I not only search actives, but I search pendings and there are so many pendings right now.  Homes, especially low dollar homes, are being snatched up quickly; especially if they are in a good condition.   Stats: LISTINGS Residential (Single Family & Condo) March 16 - 22, 2009 609 Last Year  576 SOLDS   March 8 - 14, 2009 176 Last Year  202   03/25/2009

Wow, it has been a great couple of weeks. Unfortunately I have not had an opportunity to blog.  So many things to blog about though.  I have been working with first time home buyers (www.louisvillefirsttimebuyer.com) and it has been very time consuming.  There is so much out there for buyers, I have been checking all the listings twice to make sure my buyers are seeing everything in their price range and areas.  There are still great programs out there for just about every income level.  If you are looking to jump in, make sure you at least have your FHA 3.5% down payment.  The days of zero money down are over.  Does that mean that you can't buy a house with no money out of pocket?  Not really, but we can talk about that one on one. The other exciting thing for me is ecological sustaina... 03/25/2009

Background As a result of the 2009 Economic Stimulus Package, Louisville first time home buyers have an opportunity to purchase a home and get FREE money.  In order to stimulate the housing market, the House and Senate improved the $7500 refundable tax credit by increasing the dollar amount to $8,000 and eliminating the repayment requirement. Definitions - US Government Dictionary First Time Home buyer Anyone who has not owned a primary residence home in the last 3 years.  If you had 47 Louisville homes earlier in you life, but sold them all prior to 2006 and rented since then, you are a First Time Home buyer and are eligible for the credit.  If you have 63 vacation homes, but no primary residence in the last 3 years, you are a First Time Home buyer.  Not a First Time Home buyer If your... 02/25/2009

Well the economy is in the tank and the Real Estate market is one of the leading causes (so they say, I disagree) so I had this brilliant idea! Lets make foreclosed and REO properties easy to sell, I mean the banks need the money don't they or or did the bailout money put them in a position that they don't have to sell the property. How many of you have had this problem before - You take a perfectly qualified buyer to an REO property and they LOVE it, so you make an offer - a good offer. A day later the listing agent calls and says "we have a multiple offer situation, I'm gonna need the best offer you can get me". You then make an even better offer than the really good offer that you had already made because quite frankly it is a great deal, That much house for the money. Tick tock tick... 02/23/2009

As I was discussing in the last blog entry, the house stimulus has been debated and I wasn't quite sure what the credit would be for buyer and how it would be applied or paid back. Today, one day after the Stimulus Package was signed in Denver, here are the numbers that were posted on the National Associations of Home Builders website. Although I have not been able to find a definitive number, I have read that the overall total of foreclosures is still relatively low.  Unlike the divorce rate, the foreclosure rate is still in the single digits from the last article I read.  I am looking for a site that has national statistics, but have yet to find a good source.  If any of the 10's of my readers have a reliable source, let me know. THE NEW BILL: eliminates the repayment obligation for t... 02/18/2009

Well there are so many articles posted on line right now regarding the newest tax credit provided by the latest stimulus package.  I have read several articles that seem to only be speculating on what is coming, but not giving specific details. I does look like the amount is being bumped to $8000 and that it will likely be a credit that will not require payback.  I have also read that if you purchase prior to the April 15th tax filing date, you can take the credit against your 2008 tax liability.  I don't know that the details are there yet, but as soon as I have more information I will get it out.  Here are local area statistics:   LISTINGS Residential (Single Family & Condo) February 2 - 8, 2009 448 Last Year  639   SOLDS   January 25 - 31, 2009 83 Last Year  210   02/16/2009

Well We are beginning to dig ourselves out of the ice storm of 2009.  We're cutting up trees and making piles.  The sun is out.  We have our gas and electricity.  We feel like humans living in the 21st century again.  The picture to the right is how our House looked from the street.  Those Dogwoods don't usually touch the ground.  Fortunately, it looks as iff our trees will all be saved.  Perry climbed them all and cut away the broken branches. 02/14/2009

February 13, 2008Whats going on with the new Stimulus Package as it pertains to the Real Estate Market?The senate is discussing a portion of the stimulus package called fix housing. There are two primary compents under discussion. The first on is the $15,000 Homebuyer tax credit.Many of us know that current credit of $7,500 exists to those first time homeowners that purchase a house this year. The plan will expand that number to $15,000 and open it up to everyone not just to first time homeowners. Under debate is, will we have to pay it back? If so, how much? A tax credit is a powerful idea. That will certainly put money back in the hands of tax payers. For example, if you owe Uncle Sam $1,000, instead of writing a check for that amount, you will get a $14,000 check. That's dramatic. No... 02/13/2009

This adventure called real estate can be so overwelming at times that it is just like being in a giant hole with someone throwing dirt on you one shovel at a time but when it does get like that we all have a choice to make. What would you do if this were really happening? Many people whould just scream out with every shovel of dirt that hit them....until they were silenced. BUT! there is another option, when that dirt lands on you, shake it off...and then step up! after so many times of just shaking it off and stepping up eventually the hole will fill up and you will just be able to step right out of it. This is story that my grandfather told me when I was a child only in his story there were two mules and one just wheyyyyyyed until he was dead and the other did exactly as I said, he sh... 02/12/2009

The following is a story that I heard today and I thought it to be really inspiring so I thought I would post it, you may have heard it before but if not I hope you enjoy it. This is a story about Wally the cab driver    One day a gentleman was waiting in line for a ride at the airport. When a car pulled up, the first thing he noticed was that the taxi was polished to a bright shine. Smartly dressed in a white shirt, black tie, and freshly pressed black slacks, the cab driver jumped out and rounded the car to open the back passenger door for Harvey. He handed Harvey a laminated card and said:   "I'm Wally, your driver. While I'm loading your bags in the trunk I'd like you to read my mission statement." Taken aback, he read the card. It said:  Wally's Mission Statement :  To get my custo... 02/04/2009

What a place this Active Rain is, It is such a wealth of information that you can find just about anything that you may need to know. The other day I was needing to revamp my FiSBO folder so I just did a search for FiSBO and the ideas that it gave me were just incredible. All of this is especially helpful when you have a Broker that just refuses to be helpful! (LOL actually I have an incredible broker, and I know she reads these blogs so I thought I would tease her....Gotcha Cindy) Who do you think told me about active rain in the first place. Now that I think about it what better two resources could you have than an incredible broker and access to Active Rain. With those two things by themselves you should be able to be successful in this little game called real estate. 02/04/2009

  It has been and interesting week trying to get things back in order.  We have returned to normal at home, but the work side is still a little crazy.  The phone has just stopped ringing.   I have new signs that I am getting ready to put out and a mailing that is going out today.  The mailing is going out to renters in my area and I added a new item to the post card, I U I.   That stands for Involuntary Unemployment Insurance.  I am meeting with a gentleman today that is representing a company that will insure your income for the first two years of your loan against you loosing your job.  If you do, they will pay you up to $1800 a month for two years.  The cost is about the same as a high end home warranty that last only one year.  I don't have all the details yet, buy I will follow up ... 02/04/2009

Mockingbird Gardens in Louisville's east end has some of the city's most prestigeous properties. Like nearby Indian Hills there are some incredible homes here. The age of homes here are newer, more akin to neighborhoods like Beech Spring Farm and Spring Farm, these high-end properties have a great deal of appeal. Close to downtown Mockingbird Gardens offers a lot to buyer's looking for luxury homes without heading out towards Prospect and Oldham County. Read More >> 02/03/2009

I send this latest blog message from the lovely and historical Brown Hotel in snowy downtown Louisville, Kentucky.  I am one of the many weather refugees enjoying the hostpitality of the Brwon. This weather has been no freind to Realtors lately.  I was getting several calls on my newest listing and the online traffic has been very incouraging, but now no one can get to it.  It, like my house, is near Eastern Parkway and it is just a mess.  Even my pointer signs are coated with snow and inaccessable.  I was at the house today and the wind started to blow and trees started to sway.  It was a little scary considering they are still coated with ice and fagile.  I came back to the Brown with a change of clothing and my MP3 player. If it isn't the weather, it's the political and ecomomic cli... 01/30/2009

Well it has been about a week since we left for Detroit.  I usually take this trip with one other person for two reasons.  First, there aren't too many people willing to drive 6 hours and stay over night to look at cars and second; I don't like to travel with a crowd.  One other like minded person is about all I can handle. I have been following "show buz" for the last few weeks through automotive publications and everyone seemed to think that the show was going to be severely scaled back.  It sure wasn't the show it was a year or two ago, but I have to say, with the exception of some missing manufacturers, it was great.  The cars were a lot more accessible and the crowds were small.  We usually get in early and try to get out before the crowds build to the point that you're shuffling f... 01/22/2009

What an exciting day for our nation.  I was in the car dashing home to see the oath of office, but had to settle for NPR's live radio broadcast.  I got home in time to view the speech and the balance of the program. I have great expectation for this President and for our country as a whole.  I hope the call to service is heeded and a renewed sense of American cooperation, both internal and external, is before us.    Now back to business.  Here are the stats for the last week.  We seem to be seeing fewer listing in the last couple of weeks and certainly fewer sales but not to the degree that the national media is pushing.  We are our own market and if you believe it, call me and I will show you the numbers.   StatisticsLISTINGS     Residential (Single Family & Condo) January 12 -18, 2009... 01/20/2009

      Just got back from the North American International Auto Show in Detroit and it was a blast.  The show was not a big as previous years, but you really got to get up close to the cars and that is why I go.  More about the show in future blog posts.   Today I received an email from our Board with information that was presented as a service to local Realtors as a pep rally.  We were encourage to keep a positive attitude and continue to do the things we know need to be done to help our clients get the results they are looking for when marketing their homes.   John May, former head of the PVA, gave some interesting statistics in a Power Point presentation that I thought was fascinating.  It documented sales and other stats for the last eight years in Louisville and the surrounding coun... 01/19/2009

It seems the popular press today didn't listen to their parents growing up. I'm sure you've heard the instruction, "If you don't have anything nice to say, don't say anything at all." Apparently only bad news sells commercial time, newspaper subscriptions and online ad clicks. Well, here at Louisville Homes Blog, I'd rather tell you the whole story and let you figure out what it means. So here in our ultra-concise delivery method is the 2008 Year in Review for Louisville, KY Real Estate. Home Values in Louisville First, you need to understand that most valuations you find online are truly estimates. Some are wildly inaccurate while most are merely averages. Averages are fine if your home is an average home but most aren't. Even still, with the plethora of free online information, we'd b... 01/18/2009