The RE/MAX Associates Louisville Real Estate Blog

Gene Snyder Blasting Affects East Louisville Residents

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.

 
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5 Credit Myths

You're supposed to follow the financial fundamentals by paying your bils on time and keeping yourself out of credit dangers. When its time to rent, buy, or refinance, small credit score differences can cause your plan to fail. Knowing what to do will save you thousands of dollars on the lifetime of your loan. Here are five credit myths that you need to either write down, or remember when the time comes to make a property decision. 

Myth 1: Having mass amounts of cash, equity, a great income, makes your FICO score less relevant.

     truth: No matter if you eat cash for breakfast, your lender requires you to meet their FICO score for obtaining a mortgage. If you have plenty of cash, making your bills or payments shouldn't be a problem. But if you are coming from a financial rough patch, lenders don't look at your credit score on the theory that your other assets diminish your credit riskiness. The best predictor whether you will default on your loan is by looking at how you've handled your past credit. No matter how much you make, your credit score will determine if you qualify for a loan and how much your interest rate is. However, if you buy a house with all cash, you may be able to bypass the credit score.  Now if you take a hard money loan out, you will be required to put down a much larger down payment and rate.

Myth 2: Having no debt or late payments translates into a great credit score.

     Truth: Good credit differs from financial responsibility. Your FICO score measures your responsibility when it comes to debt management, given you have credit accounts. Having no credit accounts or late payments means you haven't established credit. On the opposite hand, maxing out credit cards and submitting credit applications all the time can decrease your credit score. The best practice is to have a few credit accounts, but it is imperative to manage them responsibly.

Myth 3: Checking...

Home Improvements to Avoid When Selling your Louisville Home

The basic idea when selling your home is to make it appeal to as many people as possible, so therefor it sells faster. When considering to make home improvements to your home, either by yourself or from a contractor, there are a few home improvements that will not add as much value to your home as you would think. So don't waste your time and money because you won't see any results when your home finally sells.

Additions

Every now and then adding some rooms to your home can be beneficial, but some people may find the extra room to just be added on. They see the room as unnecessary and not belonging with the rest of the house, which will ultimatly turn them off to your home.

If you do choose to add on to your home, they need to be as 'natural' as possible. Being the person who lives and has lived there for awhile, you may fel the room is natural and does belong to the house. So get some advice and help from a professional about design and greatly consider their suggestions.

Appropriate Finish Upgrades

Any type of upgrades that you are adding to your house need to match the rest of the house. When selling your home and a room is full of new technology and fancy equipment while the rest of your home is very modern, the room will look completely out of place. Again, it is about creating the flow of the home so it all flows together.

Pools

Most people won't even look at a home that has a pool because of the cost a pool carries. If you are considering a pool wait until your next house to get one because clearly you're trying to sell sometime soon without limiting your market.

Have a long talk with your agent about which home improvements you are considering before you actually start them. Your agent will let you know which improvements will bring you a return on your house and which ones will hinder your returns. Goodluck!

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Investing in Property in Asia

For property investors wondering if the US is the right place to invest at a time like now, I've checked out an international area as an alternative. This area is a condominium development in the suburbs of Taipei, Taiwan. There is no city website for this local area called, 'The City Peak'. What drives this market is the experienced real estate agents, and personal relationships with them, which limits the access of outside investors.

These condominiums are designed so the living space is 20+ floors, and two possible retail stores on the first two floors, which actually is a western building concept. The developer hired an award winning architect and never made his building available to public investors.

The average condo in Taiwan is a wall-to-wall shell with high ceilings and fire retardants. The rest of the space is left to the buyer. The condo is sold on the total square footage as is regional tradition. So a little less than half the the area you buy is made to be the common area. The buyer is still responsible for paying rent, utilities, etc. 

Pretty much, don't move there it sounds like it sucks, and America is much better any day of the week!

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Closing of Sherman Miton Bridge Makes Louisville More Desirable

The most recent news concerning Louisville is the closing of the Sherman Miton bridge. Louisville politicians have been arguing with East End money for more than ten years. They've been arguing about the building of the East End bridge. Engineers have estimated the cost for repairing the bridge, and the calculations still aren't complete since it took place September 8th.This may mean a few things for real estate in Louisville.

One thing for sure is that if you're looking to buy a house in the Kentuckiana region, you will not want to buy one in southern Indiana. Even though 17% of the Louisville workforce is from southern Indiana, the closing of the Sherman Miton bridge will have substantial effects on commuting. Homeowners trying to sell in southern Indiana and Floyd Knobs are having a difficult time selling

On the other side, homeowners trying to sell in Kentucky are seeing a small rise in sales. Areas like Crescant Hill, Highlands, Audoban Park, and downtown.

The end to real estate recession isn't near.

Until things are back to normal, we won't be able to evaluate the extent to which the bridge failure really affects property values and transaction.Forcasting things like these never really pans out well for anyone, so there's no reason to try and guess which way the dice will roll. Goodluck with your real estate adventures.

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