It is a law that every house must have a carbon monoxide detector. In the United States over 1,500 people annually are killed from carbon monoxide poisoning. This significantly high number could be prevented. Everyone wants to keep their loved ones safe, so make sure there is a carbon monoxide detector in each sleeping area in the house.

This law is a relatively newer one so let me clarify. If you have a three bedroom house with the masterbedroom on the first floor, you will need a detector on the main floor. If you have the children's bedrooms or guest bedrooms on the second floor, one needs to be up there as well. Lastly if there's an entertainment center in the basement with a cosy couch, there should be one in the basement too.

Visit a local hardware store and choose which type of carbon monoxide detector you like most. 

Here is a helpful Youtube video, but because the design of this website is crap I cannot copy and paste anything in this space so I'll spell it out for you.

Youtube>Where to install Carbon Monoxide Detectors by Sacramento Appraiser.

Be safe everyone!

It's important to set your home as the prime example of what a selling house is supposed to be. You don't have to wait for a TV crew to come help you make your home into a new one, you can do it yourself with these tips.

1. Remove the Clutter- You need to reduce the clutter in your home to let the buyer's eyes move freely around your home. Clutter won;t allow them to see the true space your home has to offer. Their eyes will be filled with the clutter and dust on your fireplace of the living room.

2. Organize- Once the clutter is gone, it's time to organize everything you've left behind. Built-in storage units are a great way to organize everything you decided to keep. Invest in a few plastic tubs to keep all your belongings in so they aren't laying around in plain sight. It also helps to label them.

3. Clean- It's best to have your home looking like it is ready to be moved in when they buyers are ready to seal the deal. Your home needs to look and smell clean. Mop, vacuum, scrub the baseboards, and clean every surface. This is a god time to hire a cleaning service.

4. Refresh the Paint- Walls turn dingy with time, so put on a new coat to freshen the room a little.

5. Room Appropriate- Make sure when buyers are coming in to see your home they see exactly what they were expecting to see. If your house says 3 bedrooms, make sure it's not just 2 bedrooms and an office, or a craft room.

6. Create Ambiance- Ambiance is the way a home makes you feel. Some homes require a specific lighting to give a good vibe, others needs a homey and warm atmosphere. To make a home appeal to buyers you should buy a few vanilla candles, light the fireplace, get a area rugs, and bake a few cookies.

7. Staging Outdoors- Don't forget about the outdoor rooms, because buyers are placing more emphasis on the great outdoors. The way to do this is buy some simple outdoor furniture, pillows, and plants.

8. Leave No Closet Unturned- Buyers will...

Moving a company or manufacturing plan to a different  city is a major decision. The executives weigh a numerous amount of pros and cons before making an executive decision. They consider state tax codes, amount of skilled and non-skilled labor, proximity to strategic partners, and geographic location.

Louisville compares rather decently to other cities for companies choosing Louisville as their headquarters. The talent base in states like New York, California, and Massachusetts have been enough for tech companies to justify those states' anti-corporate tax codes. The good news is the balance has been shifting to smaller cities lately.

The tax foundation has published the tax climate index for 2012 and Kentucky ranks 22nd with an index of 5.20. The higher the index score the more favorable tax system.  Indiana comes in at 11th with a score of 5.99, while Tennessee was ranked 14th and a score of 5.62. Wyoming, South Dakota, and Nevada came in the top three respectively, while California, New York, and New Jersey came in last.

Coming in 22nd is pretty good even when there is room for improvement. It's better than half!!

. The cost of living is also a major factor in a corporation's cost structure. They must consider cost of goods, salaries, energy costs, real estate, etc. All of these factors are weighed by decision makers. Louisville real estate matches up rather nicely to a similar city such as Charlotte, North Carolina.

Louisville's average listing price is $206,000 while Charlotte's is $265,500. The average price per square foot is $94 in Louisville and $175 in Charlotte. The most impressive factor is the average number of sales. Louisville is 962, much greater than Charlottes 752.

Louisvillians pay less for their homes, get more house for their money, and have a higher sale activity.

If a corporation moving from a city like Charlotte to Louisville, they would experience a more business-friendly tax situation,...

Closets are often times overlooked. They seem like an unimportant room, but actually closets are significant. Every family needs storage for clothes, food, cleaning supplies, and old personal items. But a closet can be useful and a real selling item in a house. 

The first thing you want to do with a closet is to get rid of all the clutter in it. Throw away the items you havent used or even seen in the past three years. Ready buyers will be turned off when they see what junk you have stored in there, so as a general rule of thumb, if you havent used it in the past three years just get rid of it. Sell it in a yard sale, donate it, or gifting it to a friend. You'll forget about those items rather quickly and your closet will thank you later. 

Next you want to organize your closet. Color code or group similar items. Store away seasonal clothes, put shoe boxes in one corner and jackets in the other. Tame your shoes with shoe racks beacuse you always want to see the floor of your closet.

Use the same method with your kitchen pantry and bedroom closets. Every closet needs shelving. Go to the inexpensive route if you must, but get some shelves and mount them on the wall. It provides much better organization. If your budget allows, custom built-in units can impress your potential buyer and set you apart from the rest of the houses.

Walk-in closets are huge selling points in a home, so you should maximize space to make them look even bigger and better.

The main key with closets is to organize them by keeping them nice and tidy so buyers can see their true size. Buyers will become turned off if they see your clutter, so instead inspire them with a spacious closet.

Kitchens are the hearts of homes, and this holds true across the country. There's a lot of truth in the saying 'the stomach is the way to the heart', because the kitchen is where most time is spent as a family. It's the room everyone wakes up in in the morning, where everyone discusses their days over a snack, and where family meals are made.

Kitchens are the focal piece of many family rooms, and are integral to entertaining in today's age of open floor plans. This is what makes a kitchen such an important room in the buying and selling process.

Buyers want up-to-date kitchens because it's the one room owners see daily and their guests see when they visit. It's considered to be the showcase of the home. 

The downside of kitchens is that they are one of the most expensive rooms to renovate. They require the most labor and time effort when renovating. You cannot simply just hand a new lamp and call it complicated. Kitchens require new tile, counters, flooring, cabinets, and sometimes light fixtures. Because of today's economy most buyers don't want to spend the money on renovating a kitchen and want one that is ready to use the day they move in. 

When buyers are looking for up-to-date kitchens a lot of it depends on the price range your home is in.

The main thing to remember when selling your house is to not over price yourself out of the market. If homes have sold in your neighborhood for $100,000 with an average kitchen, then you shouldn't renovate your kitchen to the top of the line counters. It will be more than difficult to find a buyer.

It's best to scout the competition by going to open houses in your area and look at what their kitchens look like. Do these homes have new solid wood cabinets? Do they have new granite counters in today's 'hip' color? If the answer is yes, then you may want to update your kitchen to put yourself back in the market.

If you are in a higher end neighborhood you should be thinking...

Myth 1: Louisville real estate agents make a ton of money.

Even though this myth is a widely held opinion, it isn't true. The top performing 5% of agents make 1/3 of all the revenue, while the top 10% make 54.2%. While the average gross income for a Louisville agent in 2011 was $27,364 the mdian income was just below $13,000. Just because a handful of agents are make pretty decent money doesn't mean it's the norm for the entire industry. Keep in mind most agents are only part time.

Myth 2: Agents must do everything their clients ask.

An agent is defined as a business representative. A realtor is a licensed agent who adopts a higher level of service through the Realtor's Code of Ethics. The agent is supposed to protect and promote their clients best interests, and here are three kinds of requests that are not supposed to be asked of by a client.

1. Any unlawful request, such as the Fair Housing Statutes
2. Any legal requests, but is'nt in the clients best interest. Agent's training and experience gives them the credentials to know the difference.
3. Any lawful request that is within the legal limits, but is beyond reasonable service. Just because the client has Wednesday off doesnt mean you should show them 65 houses in one day. 

Common sense is the usual winner here. Agents want to have a good experience with their clients so they are referred to friends, but if the client's requests jeapordize the agent's license there will be problems. This experience is suppose to benefit both parties, and maybe even construct a freindship.

Myth 3: Agents get referral dollars from lenders, appraisers, home inspectors, etc.

By law this myth isn't true. By law the only referral fee an agent can receive money from is their own broker, and that broker is only allowed to get a referral fee from another broker. 

How this works: Agent Q helped the Smith family buy a home several years ago, and now...

Housing has taken another hit recently with the National Association of Realtors latest pending home sales index report claims contract signings have fallen 4.6%. The good part? The rate is still 6.4% above from last years report.

According to Lawrence Yun, the NAR chief economist, the housing marketing is being excessively constrained. It's a combination of weak consumer confidence and and continuing tight lending criteria has held back home buyers, even though the private sector has added almost 2 million new jobs in the past year.

He also stated America's monetary policy is confusing and contradictory, because America's best financial capacity and best credit scores pay the highest mortgage interest rates. The Federal Reserve has been trying to lower mortgage rates, but more consumers are still taking out huge loans that have the highest interest rates.In order to fix this, Yun says the higher loan limits must be reinstated.

The largest decline was seen in the midwest, but our region is still 12.3% higher than last year. The smallest decline was in the West where rates declined 2.1%. Reduced access to credit and ailing jobs market is continuing the put a strain on the housing market.

Having a tight budget doesn't mean you can't buy nice things and be restricted to cheap furnite. You just need to know where to shop.

The best way to get great deals is to find the sales. Retail businesses want you business these days, and they offer one-day sales, weekly clearance, and many offer coupons offered online. All it takes is a little research and you can find where the best deals are.

Since you will be decorating on a budget, you will have to compromise on which items you buy. So the $500 flat screen TV at Best Buy will have to wait. Instead try H.H. Gregg, or Wal-Mart, they will have something similar at a cheaper price, but not the exact same TV you originally wanted.

Garage, yard, and estate sales are also good spots to find good decorations. They fit well in someone else's house, so they may fit well in yours. You may find some real winning prize pieces there such as antiques and handmade pieces. Or you may find nothing, but don't ever pass up a good sale if you are looking for good deals.

 It's important not to get sidetracked and buy furniture pieces that don't fit your style. You will end up with more clutter than you planned.

If you're really struggling tis time for plan B. Your friends probably have some cool items they are looking to get rid of, so set up a meeting with them and try to do some trading.

You could also reuse your items. Go into your storage space and find some old items and be creative. See what they could serve, and where they can go and make a new statement.

Also when you're strapped, don't be affraid to do-it-yourself. Most local home improvement stores offer classes and brochures on how to tile, texture paint, and upgrade other areas of your home. You can find other online tutorials on how to build furniture, shelving, and other household items. have confidence in your abilities, and save some money. You can have a great house with awesome room inside with some smart saving....

1. Genius Scan

What it does: This is a document scanner in your pocket. This allows you to take a picture of a document and email it to anyone in PDF or JPEG format.

Why it's useful: Most real estate agents now use digital document signature software, which allows you to sign your name with one click. The faxing part is now outdated and is used on a device that you hold in your pocket. However, some agents are old school as well and do not accept this method of signatures.

2. Dictionary of Real Estate Terms.

What it does: This app allows you to look up the annoying real estate jargon into regular English at any time you want. The dictionary includes over 3000 real estate terms, charts and graphs. Your searches can be saved and emailed to friends without the use if the internet, which is helpful when you are inspecting a home without great WiFi.

Why it's useful: You will feel much more comfortable knowing what all these confusing terms mean in the process of your house hunt.

3. House Hunter

What it does: This app helps house hunters organize and prioritize the homes you've seen. This app also helps you evaluate home homes you've seen by placing a scorecard inside the app. This scorecard weighs features against what you've identified as requirements and priorities you listed as most important.  It includes a mortgage calculator, photo storage, and allows you to share you concern with your agent.

Why it's useful: When you're looking at five houses they will probably blend together. With this app you can take pictures and weigh the priorities that are most important to you.

4. SpringPad

What it does: This app helps you remember every single detail about a house you planned on remembering. You can:

• Scan barcodes of home furniture and appliances you plan on buying after you move in.
• Save ideas, addresses, online clippings from design and new sites, and to do lists from your...

Last August Freddie Mac issued its press release on the Economic & Housing Market Outlook.

The outlook highlights:

• Employment has risen 117,000, which is the best it has been since April 2011. The unemployment rate decreased a tenth to 9.1%.
• In the first half of 2011, economic growth was figured to be about 0.8%at an annual rate, which is still too weak to create jobs to stay up with the growth of the growing labor force.
• Comparable to the first quarter of 2008, borrowers are paying around $130 billion less in mortgage interest today.
• The interest rates on 15-year fox-rate loans are always a good idea for buyers considering refinancing. It reached 3.5% in early August assuring the refinance boom continues.
• Freddie Mac House Price Index for the U.S. shows that prices are down 25% on average,  as of June 2011 compared with its peak in 2006.

They predict a reasonable time frame in the future where interest rates will stay their current range. While home values have dropped 25% in the past 5 years, Louisville has actually gained 1.5%.

It's encouraging to know that employment has risen, but it needs to continue to do so along with the consumer confidence for the market to really have a good rebound. What is good for the country is good for Louisville, but on a smaller scale. Let the good news roll.

In the middle of the muck of the housing market are home design trends rising for 2012. Let's take a look at the top seven of them.

1. Home Size is Decreasing.

     Louisville is seeing less homes being built, and the ones that are being built are smaller in square feet on average. Families are choosing to build smaller, more effecient homes. This trend began in 2007, and the total square footage has been decreasing every year. It looks like it will continue to decrease through 2012.

2. Green Building Components.

     Most Americans are valuing green building materials more and more each month. This trend will not have an end in the future. A related concept is utilizing repurposed materials (recycling). So designers are finding these old recycables and reusing them in homes, which some actually do look pretty nice.

3. Reducing Home Maintenance.

     As we get older we won't want to keep up with more and more maintenance. Maintenance-free living is the preferred path for most home owners, but it is inevitable. However, maintenance-free living will be a major factor for homes design. Using composite building materials instead of wood reduces the need for a painter to paint the walls. Vinyl siding improves exterior of the home for the long run.

4. Flexible, Accessible Layouts.

     Rooms with multiple room options give home owners flexibility in choosing which room they want to serve what purpose. Larger kitchens that can hold a family dinner are replacing traditional dining rooms. Accessibility is also a new home design trend that is catching on fairly fast. People are living longer in this time period. So you will see wider door frames, lower sinks, more wheelchair ramps, and more grab bars the bathroom. Single story homes will fetch a higher price than multi-level...

Cost vs. Value:
Which Remodeling Project Has Most Return in 2012?

{ Data shown from Remodeling Magazine, see link below to connect to their site & view all projects ROI }

Based on different regions of the United States, some remodeling projects add more value than others. In our region, East South Central & in the city of Louisville, two items were shown to increase the amount of money re-couped when remodeled.

Take a guess.....Major Kitchen Remodel? Master Suite Addition? Basement Remodel? Bathroom Addition? 
None of those!


These two items would surprise a Realtor as the ONLY two remodeling
projects to increase the amount of return for 2011 & 2012:

1.Finishing off an attic bedroom in a midranged home
2.Replacing a garage door in a higher priced home

See More from  Remodeling Magazine: Cost vs. Value

Now, this is not to say that doing a major kitchen remodel, or master suite addition, basement remodel, bathroom addition or any other updating is NOT going to get back part of the money you put into the project. You are likely to get 50% - 75% back with most other big impact remodeling jobs. Just knowing that you can not expect to get a return of all of your money is certainly a better mindset prior to adding all the bells & whistles especially if you plan to sell soon. As RE/MAX Associates agent know, it's a price war and a beauty contest. Get your home staged and price it competively. 

The Obama administration just revealed its scorecard on its anti-foreclosure program recently, and there's just one word for it: minimal.

Roughly of the one million financially burdened homes in the country who have been given mortgage payment reductions through three month trials, only 116,000 have been given permanent load modifications from participating lenders. The Home Affordable Modification Program was the institution that created this assistance program. Also, 60,000 borrowers have been kicked out of the program for several reasons.

Last year Obama and his administration said the program would help three to four million Americans in the next few years. They made this claim with very unrealistic expectations, and they know it now seeing the numbers that actually appeared.

      The complications that have disrupted the HAMP efforts so far:

          This program allowed borrowers to request three month trials without documentation of their income. Many of them were able to withstand the trial periods, but they weren't able to complete the program requirements such as documenting their income.

          The program was designed to withstand a 31% decrease of monthly household incomes, but it cannot withstand the common situations where job losses have sharply reduced household incomes. Most of these end up in foreclosure.

         The program is limited to only monthly payment reductions, not cutting its principal they owe. This program is designed to help out a few distressed homes, not the 15 million Americans who jumped into a losing battle.

It's often argued that these foreclosures cannot be averted until most borrowers and lenders agree to write off some of the debt they owe. A good point to keep in mind is that buyers are not the only ones to blame. Some...

If you are planning for 2012 to be the year in which you buy yourself a home, here are five helpful things you can do to put yourself on the right path to getting there

1. Check your Credit.

     A bad kind of surprise is a bad credit score, but the worst kind of surprise is a bad credit score while trying to buy a new home. Recent studies have proven that most deal deals in buying a house are because of bad credit. The best way to avoid finding out you have a bad credit score is by checking it often, and taking steps to correcting it while time is still on your side.

2. Do your reasearch.

     It's best to know what you're getting yourself into before you actually begin the process of buying a house. the housing market is changing all the time, so stay up to date with what's changing in your area.

     Target states, cities, & neighborhood- be on the lookout for where you want to move. You should be considering tax rates, school districts, neighborhood character, and prices in that area. Once you have an idea of where you may want to live ask your agent to give you a brief summary of the local market conditions. Conditions such as if homes sell above or below the asking price, and how long they sit on the market.

     Real estate & mortgage pros- Ask your friends for referrals on an agent or broker they like. Follow it up by finding feedback on them and giving them a call. Have a conversation with them and test the waters to see if a good relationship is in the making.

     Short sales & REO's- there's a lot of work to be done on homes that have been a short sale and/or foreclosed. Talk to your agent because they can tell you what to expect when dealing with distressed homes.

     What you get for your money-...

1. Pay more than required each month.

     The best way to pay your mortgage off sooner is to pay a little bit more than you are supposed to each month. You can pay anywhere from $10 more to $1,000 more. It doesn't matter, just as long as you pay a little extra it will add up in the end. You shouldn't have to sacrifice necessities, but putting more towards your mortgage is a good habit. You'll be freeing up money down the road, which you'll be glad you have done.

2. Make extra payments.

     Making an additional payment per month is a bit more difficult than paying a little extra per month, even though it has the same benefit. The less debt you have, the more cash flow you have, which equals the more things you can do. One way to make extra payments is to make payments every two weeks instead of once a month. Given the math here that is 26 half-payments instead of 12 full-payments. This has the possibility to eliminate six years off a 30 year mortgage, as long as you also pay a little extra too.

3. Pay a lump sum

     As long as you don't have other debt, it's best to pay that little extra with (if you're lucky enough to receive) a money gift, an inheritance, a tax refund, or a bonus. These will give you a little extra money to go towards getting your debt paid of as soon as possible.

4. Refinance to speed up payoff.

     The idea behind refinancing is that a lower payment will free up some money you can pay towards the principal amount. The difficult part is qualifying for a new loan. The toughest challenge is declining home values. With a lower valuation, your loan-to- value ratio will be skewed, which you may have to get insurance for your loan. You will also need a strong credit score and proof of income from the previous two years. Lastly, shorten the term of the loan.

5. Shrink your housing costs.

    ...

When considering selling your home in the near future, you should always consider exterior remodeling to recoup most of your costs. Exterior remodeling is less expensive than interior, and generates more returns from your expenses in the selling process.

The cost vs. value report shows the importance of putting your homes best facade. Exterior replacements and upgrades are normaly less expensive than interior, and can usually recoup close to 70% of the initial cost. Siding, window and door replacements add instant customer appeal all while adding value.

According to the cost vs. value report seven of the top ten improvements are exterior replacements. The best replacement you can do is a fiber-cement siding replacement that is expected to recoup 78% of the total costs when it comes time to sell. A foam-backed vinyl siding can recoup 69.6% of costs, while a upscale vinyl siding  expects returns of 69.5% of total costs. If you want to replace a door, the least expensive method to take is a $1,200 steel door, which is expected to recoup 73% of the costs.

Lastly, a good project to undertake is replacing your garage door. Chances are it's quite old and could look a bit better. What is enticing about this project is that the cost of this project has declined 15%. The expected return on this project is 71%.

So when you are thinking about selling your home, you may want to consider doing some exterior projects to boost the value of the home. When you boost the value of your home through exterior projects, you win twice. All these improvment costs can be recouped when you sell your home, and you'll be a happier person.

US Census Releases News on Housing Starts

November 17, 2011

Released this morning, the US Department of Housing and Urban Development jointly with the US Census Bureau states that building permits and housing starts are up from that of October 2010, overall. Compared are structures of one unit, two to four units, and five or more units. Privately owned new homes with five or more units have increased 62.9% since 2010 in places that require a permit. The south has had an increase of 13% in the permits required for one unit privately owned homes. Authorized, but not started new construction is up 6.1% in the Midwest from last year.

See the breakdown based on region of the United States or just the country as a whole & read the full report:

http://www.census.gov/const/newresconst.pdf

Gene Snyder Blasting to Start Soon

Will You Be Affected?

Make sure to plan accordingly if you live in Eastern Jefferson County. The Department of Highways District 5 Office advises motorists that construction crews will start blasting work on the southbound shoulder of I-265 (Gene Snyder Freeway) near the U.S. 60 (Shelbyville Road) interchange Tuesday, October 25th between 1 and 4 p.m. Blasting work will continue in the same area each weekday between 1 and 4 p.m. for approximately two weeks. During blasting, traffic in both directions will be stopped from five to 15 minutes. Temporary traffic stops will also occur on Shelbyville Road between North English Station Road and Beckley Woods Drive.Motorists are encouraged to watch for traffic slowdowns in the blasting area and to consider using alternate routes. The actual starting date and duration of this work may be adjusted if inclement weather or other unforeseen delays occur. 

Dial 511 or log on to 511.ky.gov for the latest in traffic and travel information in the Commonwealth of Kentucky.

 
For more information:
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