Relocation or Renovation?
Do you find yourself thinking about all the things that aren’t working for you in your home more than what is? Has all that extra space that was there when you bought the house suddenly disappeared? Has the layout somehow become all wrong? Or perhaps the list of things that need repaired or upgraded seems to be multiplying at a frightening rate. Whatever the reason may be, all signs seem to be pointing to the fact that it’s time for a change. But how do you decide if moving or remodeling is the right change? Here are a few questions to ask yourself:
How do you like your current location?
You can always change what is inside a home, but location is something that is out of your control. Consider what you love about your current neighborhood, and how convenient and important it is to your current lifestyle. Do you enjoy the short commute to places you often go—work, school, shopping? Is the majority of your socializing done with neighbors and families in the area? How safe is the community? Does your home sit on a lot that offers a view like no other? Or the size, layout, and amenities of your yard are irreplaceable? If you find yourself not willing to sacrifice the location of your home, remodeling may be the best option.
What needs to be changed?
If a face-lift is all your current home needs, a remodel may be all you need to provide the upgraded features you desire. However, if it is more space you are seeking a renovation may be more complicated. Many homeowners have successfully expanded the size of their homes with additions and reconfigured layouts, however not every home offers the same potential. How possible is it to add the space you need to your current home? Is there room for an addition? How can the layout be improved? How does the cost of the renovation compare to the value it will add to your home? All of these things must carefully be considered. If the cons of a renovation outweigh the pros, it may be time to move to another house that can fulfill your needs.
How is the current real estate market in your area?
Selling your home and moving is not as easy as you may think; a lot of it has to do with timing. If you are struggling to decide whether you should renovate or relocate, analyze the current market to see how quickly homes are selling and for what prices. Consider how much money you will be able to make when selling your home, and if that amount will be enough to buy a home that meets the needs you need to fulfill.
To Buy or Not To Buy? That Is the Question
There are a number of reasons you might be thinking about buying a new home. Perhaps you need more space, or looking to downsize. Or maybe you are tired of renting and ready to invest your money in something you can call your own. You could be facing a change in your job that calls for a change in your location. Or you are just simply bored with your current place and looking for something different. Whatever the reason may be, buying a home is a big decision that should be carefully thought through.
Purchasing a home is a huge investment that will not only affect your finances, but also your lifestyle. Even if you are a billionaire or have loads of cash lying around somewhere, impulsively buying a property is not usually recommended, especially if your real estate knowledge and experience in less than proficient. You should approach the decision delicately through thorough evaluation. An evaluation of what, you ask? Everything. As a starting point, focus your decision around this simple question: Is the time right?
Take a look at your financial position; are you able to make a solid down payment? Is your income steady and stable? How much are you comfortable in spending? When asking yourself these questions it is imperative to remember that the purchase price of a home is not the only thing to consider. Owning a home requires a number of additional expenses you need to include in your evaluation—property taxes, utility expenses, homeowners insurance, maintenance expenses, etc.
Next, take a look at external elements; what are the current mortgage rates? How is the market doing? Is there a lot of inventory to choose from? Are homes selling above or below their market value? You need to evaluate what your money is able to get you and if the investment is worth making. The real estate market is a constant wave of change, so studying your area’s current performance is essential to determine your best option, whether that be to buy now or wait for conditions to improve.
Special tip: To make a more informed and confident decision, your most valuable resource is the personal advice of a real estate expert in your local area. No one understands the current local market like those professionals who deal with it on a daily basis. They can walk you through this evaluation, answer your questions, and offer recommendations based on your individual situation.
The 60th Annual WHAS Crusade for Children Has Met Its Goal of $6 Million
Every spring WHAS hosts a two-day telethon event where the Louisville community and our surrounding neighbors come together for a time of giving. Known as Crusade for Children, this telethon broadcast works to collect donations to benefit children’s charities throughout the Kentucky and Southern Indiana area. The area’s locals may recognize the upcoming event by the many firefighters walking through traffic cross-sections holding out their boots to collect spare change from donating drivers. 
Established by WHAS-TV in 1954, The Crusade’s first telethon collected a total of $156,000. The 60th annual Crusade for Children took place this past weekend, June 1st & 2nd. At the close of the event, the goal that was set a few months back was realized as the organization’s total rolled in at a whopping $6,001,342.00! The collection of over $148 million in its first 59 years makes this charitable organization not only host one of the longest-running local telethons in history, but also the most successful.
So while we all know Louisville as the home of the Kentucky Derby, the Louisville Slugger, Muhammad Ali, and bourbon, The WHAS Crusade for Children is something we all need to take the time to celebrate. Past, present, and future residents of the Kentucky and Southern Indiana region should take pride in the community’s generosity and fellowship.
If you would like to find out more about The Crusade, or how to donate or get involved, visit their website at http://www.crusadeforchildren.org/.
3 Reasons to Sell Your Home Now!
Been tossing around the idea of selling your home but just been waiting for the “right” time? Stop hesitating because that right time is right now! Here are 3 reasons why it is a great time to sell your house.
1. Inventory is extremely low
Buyer demand is high, but inventory supply is low. It’s Economics 101. And it is happening nationwide. Homes are selling fast as buyers are competing to snatch up what they can get before someone else does.
2. Prices are on the rise
In this low inventory market, the fight is buyers versus buyers and it’s the homes for sale that are the prize to be won. Home buyers are facing multiple offer situations which in turn create bidding wars. Buyers are trying to outbid the other offers, ultimately driving up home prices.
3. Mortgage rates are low, but on the rise
Mortgage rates have been staying near record lows, hovering around 3%, but we knew it was only a matter of time before that can change. Interest rates have shown a steady increase over the past few weeks, reaching 4.125% just yesterday. If a new home is anywhere in your near future, you may want to lock in one of these lower rates sooner rather than later.
Click Here to see today’s current interest rates.
In this current market sellers have the advantage. This is a low-risk time to sell your home, offering benefits that won’t last forever—don’t let it pass you by!
Important Announcement from HomeServices of Kentucky
HomeServices of Kentucky, a wholly owned subsidiary of HomeServices of America, Inc., strategizes ongoing growth by identifying reputable companies that have developed strong respect, trust, and value within their communities. They have been operating the Semonin Realtors® brand since 1999, and Rector Hayden Realtors® since 2003. Yesterday, HomeServices of Kentucky issued the following press release announcing their newest addition: Wakefield Reutlinger Realtors®.
FOR IMMEDIATE RELEASE
HOMESERVICES OF KENTUCKY ANNOUNCES ACQUISITION OF WAKEFIELD REUTLINGER REALTORS®
Louisville, KY (May 29, 2013) – HomeServices of Kentucky, a wholly owned subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, has announced the purchase of Wakefield Reutlinger Realtors®, a local real estate firm serving the Louisville area. This acquisition becomes effective June 1st, 2013.
“We are extremely pleased that Wakefield Reutlinger Realtors® has become part of HomeServices of Kentucky. This will continue the legacy of a premier real estate company,” said Tom Wakefield, principal broker of Wakefield Reutlinger Realtors®. “Ken Reutlinger and I will remain within the company as active brokers.”
“We are very excited about today’s announcement, and what it means for HomeServices of Kentucky. Wakefield Reutlinger’s brand, their leadership, their sales team and their staff all has an exceptional reputation in the Louisville market,” said Brad DeVries, president and CEO of HomeServices of Kentucky. “Wakefield Reutlinger shares our core values of integrity, customer service and community involvement,” continued DeVries. “We are confident this new relationship will bring a continued level of exceptional service for buyers and sellers in the Louisville market.”
About HomeServices of Kentucky
HomeServices of Kentucky, a wholly owned subsidiary of HomeServices of America, Inc. will now operate three brands within the state: Rector Hayden Realtors®, Semonin Realtors®, and Wakefield Reutlinger Realtors®. They are joined by sister company Huff Realty, which serves the northern Kentucky and Cincinnati area.
Rector Hayden Realtors® currently serves the Lexington and central Kentucky area with approximately 250 agents and staff and was acquired by HomeServices of Kentucky in 2003. Semonin Realtors®, formally Paul Semonin Realtors®, with more than 550 agents and staff operates as the largest real estate brokerage firm in the Kentucky and Southern Indiana region and was purchased by HomeServices of Kentucky in 1999. Huff Realty, with more than 525 agents and staff operates in the Cincinnati and northern Kentucky area was acquired by HomeServices of America, Inc. in 2006.
Information about Rector Hayden Realtors® can be found at www.rhr.com. Information for Semonin Realtors® is available at www.semonin.com and information about Huff Realty is available at www.huff.com.
About Wakefield Reutlinger Realtors®
Wakefield Reutlinger Realtors® was founded in 1984 by Thomas Wakefield and Kenneth Reutlinger, Jr. The company operates out of one office with approximately 40 employed agents and staff. Wakefield Reutlinger Realtors® occupies a high-end niche market in Louisville, Kentucky with its average sales price near $265,000. Information about Wakefield Reutlinger Realtors® is available at http://www.wrrealtors.com.
About HomeServices of America, Inc.
HomeServices of America, Inc., based in Minneapolis, Minn., is the second-largest, full-service residential real estate brokerage firm and one of the largest brokerage-owned settlement services provider in the U.S. and is the majority owner in the Prudential Real Estate and Real Living Real Estate franchise networks. Owned by MidAmerican Energy Holdings Company, a consolidated subsidiary of Berkshire Hathaway Inc., HomeServices’ operating companies offer integrated real estate services, including brokerage services, mortgage originations, title and closing services, property and casualty insurance, home warranties and other homeownership services. Information about HomeServices is available at www.homeservices.com.
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Make Your Home the Talk of the Block!
4 Quick and Inexpensive Ways to Enhance Curb Appeal
‘Tis the season to go for a morning jog or afternoon stroll, sip iced tea on the front porch, mow the lawn and grow the garden, and teach the kids to ride their bikes. Warm weather has arrived and everyone is outside enjoying the fresh air, admiring the colors of spring, and—whether you like it or not—noticing the exterior appearance of your home.
Improving the outside look of your home doesn’t have to require a full-blown, expensive makeover. The easiest and slightest improvements can make a huge difference in your home’s curb appeal.
Paint the front door.
Your front door is a major focal point of your home. Whether you use a bold red or a subtle blue, simply giving it a pop of color can make the entire house look fresh and vibrant.
Upgrade the hardware.
Old light fixtures and dull house numbers can make the entire house seem just that: old and dull. By replacing old hardware, or even sprucing up what you have with a little spray paint, your home can have a more polished look. Choose hardware of similar styles and colors to create a neat, uniform look.
Install window boxes.
You don’t have to be a gardener to add flowers to your curb appeal. Window boxes offer a quick and easy way to add color and charm to your home’s exterior.
Add illumination.
Lighting the outside of you home will give it a nighttime glow that will provide your home’s curb appeal with a welcoming and elegant ambiance and also serve as a safety feature. This technique can spotlight certain features of your home’s exterior décor and add dimension. Adding this effect does not have to require complicated wiring or electrical work. Lining the shrubbery or the path to your front door with solar lights that simply stake into the ground is a quick and easy installation.
Louisville Gets Musical for Memorial Day Weekend
More than 25,000 people will “come together” for Abbey Road on the River this Memorial Day Weekend. Over 50 Beatles tribute bands from around the world are landing in Louisville to perform for Beatles enthusiasts and rock and roll lovers at 8 indoor and outdoor venues throughout the city. The festival will also feature karaoke sessions, a costume-contest and parade, original Beatles inspired artwork, one-of-kind merchandise, and guest speakers. Everything kicks off Thursday, May 23rd and extends through the holiday weekend with events held at The Galt House Hotel, Muhammad Ali Center, and along the Belvedere Festival Park. Abbey Road on the River is perfect for the whole family to come celebrate the days of Fab Four.
Just minutes down the river, fans of another music genre will gather this Memorial Day Weekend at the popular Kentucky Reggae Festival. The Louisville Water Tower on River Road will have a Caribbean vibe to it as festival goers enjoy live reggae music and flavorful ethic food, and an atmosphere that can make you forget that’s the Ohio River you’re sitting along, not the island beaches of Jamaica. The Kentucky Reggae Festival will also feature the Caribbean vendor market offering the unique souvenirs and reggae style clothing of the isles. During May 25th to 27th the whole family is welcome enjoy the laid-back sounds and tropical flavors of the Caribbean in our own Louisville backyard.
From the timeless hits of the Beatles to the reggae vibes of the Jamaican beaches, Louisville will celebrate this Memorial Day Weekend with music, culture, and family fun.
Learn more about what the Kentucky & Southern Indiana area has to offer at Semonin.com.
Real Estate Market Snapshot for Louisville, Elizabethtown KY and southern Indiana for December 30 2012
Unsold real estate inventory at lowest level in years for Louisville KY and southern Indiana
The unsold or active residential real estate for sale in the Greater Louisville and surrounding areas have reached lows not seen in several years. The Louisville MLS tracks the active inventory on the market at any one time. At the end of 2012, active residential real estate slipped below 6000 for the first time in years.
CLICK HERE or click on the market snapshot image to the left to view more details about the statictics for the local market.
In addition to Louisville Ky statistics, this weekly report provides insight into the southern Indiana real estate market and the central Kentucky Elizabethtown area as well. For more information about the market just visit our Semonin market update area on Semonin.com.
