Category Archives: Southern Indiana

The Big Four Bridge Opening in Indiana

The Big Four Bridge, which has been a popular attraction for Louisville residents since it opened on February 7, 2013, will finally be accessible from the Indiana side. After several extensive delays, the much anticipated completion is confirmed for April 30, 2014, the same day of the Kentucky Derby Festival’s Great Steamboat Race.

The Big Four Bridge connects Louisville, Kentucky with Jeffersonville, Indiana allowing pedestrians and bicyclists to easily enjoy the attractions on both sides of the Ohio River. The opening of the Jeffersonville ramp will give Louisville residents the ability to stroll across the river to enjoy the many great shops and restaurants Historic Downtown Jeffersonville has to offer. On the flip side, those from the Southern Indiana side will be able to easily enjoy Louisville’s esteemed Waterfront Park and many downtown attractions without the hassle of automobile traffic and finding a place to park their car. This recreational bridge is hoped to promote exercise and a larger sense of community among the area’s residents and tourists.

The Big Four Bridge

Photo Credit: Insider Louisville

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Remodeling Costs & Resale Value

Remodeling projects are a great way to add value to your home, but not all projects produce the same return. If you are looking to add value to your home, it is important to know how much certain jobs cost and how much of that money you will get back when you sell the property. Remodeling Magazine recently came out with the 2014 Remodeling Cost vs. Value Report which provides estimates for national averages and for local areas such as the Greater Louisville region. Below are some remodel projects with their average cost and value recouped in our local area. Our averages are generally at or above the national percentage of cost recouped.

Project: Attic Bedroom; Job Cost: $47,725; Resale Value: $32,968; % Recouped: 69.10% Project: Basement Remodel; Job Cost: $59,830; Resale Value: $38,218; % Recouped: 63.90% Project: Bathroom Remodel; Job Cost: $15,444; Resale Value: $8,479; % Recouped: 54.90% Project: Family Room Addition; Job Cost: $76,667; Resale Value: $45,600; % Recouped: 59.50% Project: Garage Addition; Job Cost: $48,619; Resale Value: $27,496; % Recouped: 56.60% Project: Garage Door Replacement; Job Cost: $1,468; Resale Value: $1,054; % Recouped: 72.00% Project: Major Kitchen Remodel; Job Cost: $52,836; Resale Value: $36,762; % Recouped: 69.60% Project: Minor Kitchen Remodel; Job Cost: $18,211; Resale Value: $13,625; % Recouped: 74.80% Project: Master Suite Addition; Job Cost: $99,369; Resale Value: $60,196; % Recouped: 61.00% Project: Home Office Remodel; Job Cost: $26,923; Resale Value: $8,582; % Recouped: 31.90% Project: Roofing Replacement; Job Cost: $16,591; Resale Value: $9,112; % Recouped: 54.90% 

The 2013 Kentucky State Fair

Fried food, free concerts, and cows… oh my!

Can you believe it’s that time of year again? The annual Kentucky State Fair kicks off tomorrow night, and everyone from around the region is invited to partake in what has become one of the state’s biggest traditions since 1902. Visitors of all ages will flood the fairgrounds during this 11-day event to enjoy a world of agriculture, education, performing arts, animal showcases, thrill rides, one-of-a-kind vendors, and MUCH more!

Freddy Farm Bureau

Freddy Farm Bureau

After beginning the day with a quick chat and photo session with Freddy Farm Bureau (the 18-foot farmer who has been the official greeter of the Kentucky State Fair since 1958), stroll through the hay covered floors of the West Wing to hear a chorus of moos and oinks, pet plush wool sheep, and watch chickens relentlessly peck through scattered seeds. Next, take the time to admire blue-ribbon crops, tour the numerous art exhibits, and immerse yourself in a plethora of educational attractions that will leave you with a whole new understanding and appreciation for the state of Kentucky and all the organizations that make it great. And make sure you take the little ones for a stop at Kidz Biz for performances by various dancers, musicians, and comical characters; entertainment that is sure to bring laughter and excitement to everyone from 2 to 92.

For those of you more interested in the merchandise, head to the South Wing where hundreds vendors set up booths showcasing everything from jewelry, makeup, and clothing to hot tubs, furniture, and home improvement materials. Take the time to stop to “ohh” and “ahh” at impressive product demonstrations and artist performances.

Before calling it a day, head outside to Thrillway, buy some tickets, and hop on some exciting carnival rides! Click here for ticket prices and information. Or if you have already spent enough money on fried food and souvenirs, make your way to Cardinal Stadium for the nightly concert, free with your paid State Fair admission. Gates for the concert series open at 7:00 p.m. each night, with a scheduled start time of 8:00 p.m. Click here for a schedule of performances, which include hit music sensations like Vertical Horizon and Montgomery Gentry.

General Info: The 2013 Kentucky State Fair will take place August 15-25, with gates opening at 7 a.m. and entrances to exhibits beginning at 9 a.m. each day. Admission at the gate is $10 for adults and $6 for seniors over 55 years old and for children 3 to 12 years old. There is an $8 parking charge for all of the main lots, but fair-goers can get free parking on weekends at Papa John’s Cardinal Stadium and use the complimentary tram service to get to and from the fair.

As a part of the Kentucky State Fair celebration, a number of today’s most popular entertainers will take the Main Stage, including country superstars Alan Jackson, Gary Allen, and Toby Keith, #1 hit artists The Wanted and Carly Rae Jepsen, hilarious ventriloquist and comedian, Jeff Durham, and even the stars of A&E’s hit show “Duck Dynasty”. For schedules and ticket information, click here.

Fourth of July Fun for Everyone!

Events all over Greater Louisville and Southern Indiana are being held this week to welcome the community to come together and celebrate Independence Day the way all Americans should!

Fireworks in Louisville

If you are looking to join in on the biggest celebration in town head down to the Waterfront! The annual Fifth Third Bank Waterfront Independence Festival will kick off Wednesday, July 3rd and run through Thursday night.

If you are looking for a more unique setting, Louisville’s historic and infamous steamboats are also taking part in the holiday excitement. The Belle of Louisville and Spirit of Jefferson will welcome passengers to cruise the river during the Waterfront Festival’s fireworks displays on July 3rd and 4th. Concessions and drinks will be available and tickets can be purchased of the Belle of Louisville’s website.

Fourth of July Food and Fun

Admission to all events is free and will start up at 5:00pm each night. Attendees can enjoy fireworks, food and cold beverages, browsing through tents and booths set up by various vendors, and dancing the night away with multiple musical performances including country star Justin Moore, R&B all-stars Kool and the Gang, and many more. With a number of activities and games for kids of all ages as well, this festival is perfect for a night of family fun.

For those searching to do something on the other side of the river, the New Pekin Fourth of July Celebration is the place to be. Americans have been celebrating our independence at the New Pekin festival for 183 years, making it the oldest consecutive 4th of July celebration in the nation! A variety of events and activities, including fireworks, rides, games, entertainment, a parade and flea market, and of course plenty of good food, will run from Wednesday, July 3rd through Saturday, July 6th. Join in on the tradition this year at Pekin Park in Washington County, Indiana.

Just in case the storm clouds decide to join us in celebrating our American freedom, the Kentucky Flea Market Fourth of July Spectacular will be taking place indoors at the Kentucky Fair & Expo Center. From July 4th through the 7th over 600 booths will be set up offering shoppers to browse through are sorts of one-of-a-kind treasures and goodies. Bring your kids and enjoy a number of fun & FREE activities in “Kids Zone” including mini golf, cornhole, movie making, and laser shoot. There is also no charge for admission!

These are just a few events around the area that will be happening during the holiday. However way you choose to celebrate remember to do it in honor and pride of our nation and our freedom!

Market Snapshot: June 2013 vs June 2012

Let’s compare the June 23, 2013 stats with the June, 24 2012 stats for the Louisville, Elizabethtown, and Southern Indiana real estate markets.

Greater Louisville

The Months of Inventory is 17.1% lower than this time last year. This is the amount of time it would take to sell all the properties that are currently listed in the area. On June 24, 2012, it would have taken approximately 7.0 months to sell every listed property in the area; on June 23, 2013 it was recorded to only take 5.8 months.

The amount of Unsold Residential Inventory is also down 11.5% from last year. As of June, 23 2013 there were 6,794 residential homes listed for sale in the Greater Louisville area. This time last year there were 7,679. This gives buyers less to choose from and become more competitive with each other to get the home they want.

On average homes are selling for prices 7.7% higher than last year, and it less time – 19 days less than in 2012.

Average Sales Price – 2012: $181,173 vs. 2013: $195,150

Average Days on Market – 2012: 82 days vs. 2013: 63 days

 

Elizabethtown

In the Elizabethtown market, the Months of Inventory is actually 1.1% higher than it was in 2012.

2012: 9.3 months vs. 2013: 9.4 months

Unsold Residential Inventory is 4.5% lower, with 1,481 unsold homes on June 24, 2012 and 1,415 properties still listed for sale on June 23, 2013.

Unlike what is being seen in the Greater Louisville area, real estate in Elizabethtown has an Average Sales Price that is 11.6% lower than what is was this time last year. In 2012, properties were selling for an average of $153,496, this year the average price is down to $135,760.

However, similar to the Louisville market, properties are on the market for less time.

Average Days on Market – 2012: 163 days vs. 2013: 143 days

 

Southern Indiana

Months of Inventory – 23.9% lower than last year

2012: 8.8 months vs. 2013: 6.7 months

Unsold Residential Inventory – Down 3.9% this year

2012: 2,101 vs. 2013: 2,186

Average Sales Price – Increased 15.0% since 2012

2012: $123,404 vs. 2013: 141,921

Average Days on Market – 1 days less than last year

2012: 116 days vs. 2013 115 days

Data is complied through the GLAR, HKAR, and SIRA MLS systems
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