The MLSKY.net Blog

Hot Louisville Market: Increased Property Value and Taxes

Why higher taxes equal more money in your pocket

by MIKE HALL, Owner/Broker/Agent

calculating

If you are looking to buy in Louisville you’ve probably already noticed that the housing market is booming. Houses can list and sell within 24 hours causing bidding wars and creating a seller’s market.

However, you shouldn’t let that keep you from buying as this increased demand creates nearly immediate equity in most homes. The Louisville PVA recognized the demand in the Louisville market and has recently increased property value and, subsequently, tax rates for 100,000 properties including 70,000 residential homes.

The average hike in taxes is 7.5 percent and properties are typically assessed every three to four years. This means that you can buy now and have the opportunity to build equity before the next assessment occurs. If demand and value continue on the same trajectory, property values will continue to rise thereby making Louisville homes an excellent investment for the future.

Only certain areas of the city have recently been assessed. Consulting with a real estate agent at Red Edge to find a home in an area where property value is increasing is essential to making a wise investment. Areas of the city with less growth potential are still...

Why You Should Stop Renting

Start saving now

by MIKE HALL, Owner/Agent, Broker

Own versus rent Louisville

There are a lot of reasons people decide to rent rather than buying. When a maintenance issue arises at a rental property, calling the landlord is a snap and doesn’t cost you anything. However, repairs may not always be satisfactory and control over that is out of your hands. Some also rent because they believe they would never qualify to buy. But the restrictions on lending put in place after the 2008 financial crisis have been loosened making the way for more renters to become homeowners.

If you currently reside in the Louisville area now is a great time to buy. Property values continue to go up which means your investment has almost instantaneous equity, and you are sure to get your money back, plus some, should you decide to sell. Furthermore, rental rates in Louisville continue to rise as inventory for buyers is low and demand for housing increases. While you are virtually guaranteed a return on your money when you buy, renting in Louisville has become a costly prospect with very little benefit. You can spend less per month on a mortgage and put money in your pocket when you leave rather than losing a deposit and potentially being slapped with additional fees when...

Making the Most of Derby Week

Tips to have fun around Louisville

by MIKE HALL, Owner/Agent/Broker

We are just a few days away from the Derby and that means Louisville is abuzz with activities! In the days leading up to the big event here are some tips for having fun around town:

1.) Get your Pegasus Pin! This pin is your pass to admission or discounts on many Derby-related activities and merchandise. The pin can be purchased at many gas stations and grocery stores.

2.) Shop! Many local retailers have special pricing and merchandise to get you to the Derby in style. It’s not too late for your blazer, dress or, most importantly, hat!

3.) Eat, drink and be merry! What’s the Derby without sampling a local bourbon, craft beer or mint julep? And don’t forget to stop for a Kentucky Hot Brown or some Benedictine.

4.) Pick your pony! Take a moment to Google the odds and decide where to place your bets. Watching the race is a whole lot more fun when you have someone to root for.

5.) Get your collectibles before they’re gone! Check local party supply stores for your collectible Derby glasses, special edition liquor bottles, t-shirts and many other items.

6.) Check out downtown and the waterfront!...

From Our Archives

Posts By Category

All Categories Deal of the Day (2) Home Design (21) Louisville Home Buyers (26) Louisville Home Care (3) Louisville KY Market Stats (24) Louisville News & Events (37) Louisville Restaurants (2) Red Edge News (4) Restaurants (1) Selling a Louisville Home (15) Selling Your Home (6) Smart Home Technology (1) St Matthews (1)

Posts By Month

Grab Our RSS Feed
Selling Your Home?

If you are considering selling a home in the Louisville area, contact us first to get a free valuation and market analysis.

Free Market Analysis