Last year I wrote a Louisville Kentucky Real Estate Review of 2008 focused primarily on home values. This year, I thought I’d do something a little more fun. I took some time to look through all the big stories of 2009, with an eye on Louisville real estate to see which ones have had the biggest impact. Below you’ll see my conclusions. Have a differing opinion? I’d love to hear from you!
#1 Home Buyer Tax Credits Get Extended into 2010
This is most certainly the biggest news of the year. Here at LouisvilleHomesBlog.com, I’ve created the Home Buying Tax Credit FAQ to help answer any questions you might have. Also, here’s a post called Home Buyer Tax Credit Changes which identifies what’s new in the recent legislation. Don’t forget that our State has incentives as well, Kentucky Housing Offering Help to Louisville Home Buyers.
#2 Historical Low Mortgage Rates on the Rise
The bright spot in the housing recession has been the incredibly low interest rates. But that won’t be the case going forward as Louisville Mortgage Rates Expected to Rise in 2010.
#3 Internet + House Buying = Match Made in Heaven
The Internet has made browsing active listings a breeze! 2009 was no exception, with new innovations like my Louisville KY Neighborhoods Map, connectivity technology like Facebook and Twitter, there’s no end to the real estate benefits that the Internet affords.
#4 The Housing Recovery Hits Home
Lots of news here like Louisville #37 in Nation for Housing Recovery, Louisville 1 of 10 Cities Primed for Real Estate Turnaround and Louisville Beats Nation as Values Level Out. Louisville certainly isn’t the real estate disaster like Detroit, Las Vegas and others.
#5 Real Estate Improves Status as Investment
Just because standard home buying customers has chosen to stay on the sidelines, doesn’t mean that investors haven’t taken advantage of the great buys, because Louisville Real Estate as Investment has grown in volume.
#6 Home Improvements Increase as Sales Drop
Less people moving means more people improving their current property. LHB has the following great posts on this topic: 10 DIY Cheap and Easy Ways to Protect Your Home, Energy-Efficient Rebates Pushed to Spring, Top 10 Louisville Home Improvement Projects and Are Replacement Windows a Wise Home Improvement?
#7 Louisville Still Popular Relocation Destination
Relocation made up a large part of my real estate business. And that makes sense because Louisville Kentucky Tops Voter’s List of Favorite Cities.
#8 New Developments Continue to Break Dirt
Artisan Park in Oldham County, Bannon Crossing off Bardstown Road, Beech Spring Farm in Prospect, or one of a host of great, new neighborhoods, Louisville is experiencing solid development growth. And here I didn’t even mention our wonderful, planned community of Norton Commons.
#9 Cost of Living Still Drawing a Crowd
Just like #6, there are many reasons that Louisville KY has won some national attention with our housing prices: Louisville Awarded Top 20 Best Places to Retire.
#10 Louisville’s Homearama Still a Lively Affair
I was surprised to learn that not every major city has their own version of Homearama. As a Realtor, I love visiting ours and the 2009 Homearama was no exception.