Providing More Than a Key to the Front Door

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REAL ESTATE
Wakeeld Reutlinger Realtors, a Berkshire Hathaway Aliate 2nd Quarter 2017

Louisville and National Market Update

Monarch Butterfly
Waystations in our
Olmsted Parks!
The waystations beautify the
parks, while providing food,
shelter and breeding grounds
for the butterflies on their
bi-annual migrations. See
where they are and help the
Conservancy build more!
http://www.olmstedparks.org/
Existing home sales in the Greater Louisville
Area were up 4.6% for the first quarter of
2017 versus last year. March sales were up a
strong 11.55% over March 2016. With the
continued low levels of inventory, the average
price year to date was up 8.6% and the
median price was up 6.5%.
The average price in Jefferson County in
March 2017 was $193,172 and the median
price was $155,000. In Jefferson County, the
inventory of homes and condos for sale was
21.5% lower than March 2016. Inventory in
Oldham and Bullitt Counties was down 13.7%
and 18.7% respectively.
Houses priced below $400,000 continue to
sell briskly due to the lower levels of inventory
while the market for houses in the $400,000
to $600,000 price range is more balanced.
The market at $600,000 and above is
currently a buyers market due to an influx of
new listings.
Nationally, existing home sales in March
reached their highest level in over 10 years.
Marchs sales pace is 5.9% above a year ago
and surpasses January as the strongest
month of sales since February 2007. Sales
for the first three months of the year were
5.0% higher than in 2016.
According to Lawrence Yun, NAR Chief
Economist, Last months swift price gains
and the remarkably short time a home was on
the market, are directly the result of the
homebuilding industrys struggle to meet the
dire need for more new homes. A growing
pool of all types of buyers is competing for the
lackluster amount of existing homes on the
market. Until we see significant and sustained
multi-month increases in housing starts,
prices will continue to far outpace incomes
and put pressure on those trying to buy.

LOUISVILLEReal Estate U P D A TE

Silo Center Bike Park opens

May 27 at Turkey Run Park!
Improve your abilities on the
Toasted Swine Skills Loop.
Practice rollers and berms on
the Pump Tracks.
Take on the Flow Trails like
Flying Pig and Crazy Reds.
IMBA designed amenities for
every level!
http://www.theparklands.org/
P age 2

Lighting: An Easy and Inexpensive

Way to Update Your Home
Here are some of the latest
trends:
Like any
other part
of interior
dcor, lighting
trends are constantly changing.
Tastes and preferences change
with generations, which is why
there is interest in vintage
lighting, Art Deco, Mid-Century
Modern and industrial styles, to
name a few. Theres no shortage
of attractive, innovative options,
and changing out your light
fixtures is an easy way to make a
big impact on your home dcor.
Instead of brass,
homeowners have fallen in
love with soft gold which
falls somewhere in
between brushed silver and
brushed gold.
Oversized fixtures which
make a bold statement are
trending, such as a
statement pendant in the
kitchen or a quirky lighting
fixture over the dining room
table. The dining room is a
great space to do
something unusual.
Mixing metals such as
bronze, gold, silver and
copper, is gaining in
popularity. Gone are the
days where one finish was
used throughout the house
or even a single room. Mix
and match your favorite
metals.
The industrial trend is
growing and incorporates
vintage electric design
elements, such as the
Edison bulb, which
provides a cool retro look.
More and more Art Deco
and Mid-Century Modern
styles are coming on the
market. Both emphasize
clean lines and geometric
shapes.

A Win-Win:
Appraisals and Energy Efficient Homes
In the past, appraisals for high- will be pleased to see that their green, knowing the appraisals
efficient green homes rarely efforts to build green will now will reflect the value of energy
reflected or indicated added be reflected in the valuation of a upgrades.
value for the modifications. Now, new home. They also will be
the Appraisal Institute is adopting more inclined to
a green-building addendum to build
the appraisal forms, which will
include HERS (Home Energy
Rating System) index scores.
This system was developed by
the Residential Energy Services
Network.
A standard home is given an
index score of 100, while a
high-performing, energy-efficient
home might rate a 70-index
score, which means it is 30
percent more efficient. Builders
 Real Estate Insider P age 3

More Buyers Seek 10 Signs Your

Dual Master Suites House Needs
Updating
1. Vertical blinds

2. Popcorn ceilings

3. Wood paneling

4. Linoleum floors

5. Sponge walls
Starting 6. Wallpaper borders
There is a growing number of buyers who are looking for homes that have
two master bedrooms.the process
According to Realtor Magazine, homes with two
masters are about 9% higher in cost than those with just one, and many 7. Glass blocks
buyers are willing to pay. More and more couples are really wanting
separate bedrooms and looking for a better nights sleep. This is especially 8. Carpet in the bathroom
true if their significant other snores, is restless, or falls asleep with the TV
on. There used to be a stigma on couples who didnt share a bedroom, but 9. Builder-grade lighting
that notion is fading as the aging population values their sleep more and
more. Also, families with elderly parents or back-to-the-nest grown children 10. Orangey oak kitchen
love to have two separate spaces in which to retreat. Luxury home builders
cabinets
are taking note there is a growth in demand for multi-generational living.

Closing Times in a Competitive Market

Many sellers look more favorably
on a quick closing, and it can
even affect their decision when
considering offers. So how long
does it take to close a loan?
According to mortgage system
servicer Ellie Mae, the average
time in 2016 was 47 days, the
same as in 2015. Now, some
lenders are making a push for a
21-day close to attract more
business. With the regulations
enacted after the housing crisis of
2008 largely sorted out, lenders
are looking at ways to use
technology to streamline the
process.
No matter how good their
systems are, lenders will tell you lenders will order the appraisal as
the key to a fast closing is how soon as they receive the contract.
quickly the buyer completes the If the sale doesnt close for some
application and provides needed reason, the buyer is not charged.
documentation.
If you are a buyer in a
competitive market, you need
to choose a lender and
become pre-approvednot
just pre-qualifiedfor a
loan before you start
shopping in earnest.
Another stumbling block to a
quick closing can be the
appraisal process, due to a
shortage of appraisers and
the unpredictability of the
outcome. To avoid delays, some
 Olivia Eberenz,
Eberenz REALTOR
502-767-9102 oeberenz@WRrealtors.com
"I decided to work with Olivia Eberenz because I know her personally and I knew I could
trust her. My parents have worked with Wakefield Reutlinger in the past on a couple of
occasions and I knew it was a reputable real estate firm.

This was my first time buying a home and I could not have asked for a better realtor experience. Olivia
Eberenz was in contact with me constantly throughout the buying process and understood my needs
from the very beginning. I would recommend Olivia Eberenz and Wakefield Reutlinger to anyone in
Louisville. Thank you, Olivia!!" Betsy Frentz, Louisville

James Aubrey,
Aubrey REALTOR
502-744-7922 jaubrey@WRrealtors.com
Ellen Bland,
Bland CRS, GRI
502-807-4924 ebland@WRrealtors.com
Jim and Ellen teamed up to make this the best experience possible. Both are just fine caring and honest
people. It felt like having two friends sell your house.

Their team staged my house to make it look it's best. The process went so very smoothly. I would
recommend them to friends and family without hesitation.

Stephen Roberts, East Louisville