Wakefield,Reutlinger AND COMPANY/REALTORS

o r s .c o m
Rr e al t
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REAL ESTATE
A Publication of Wakefield, Reutlinger and Company/Realtors Vol. 1 No. 23 March 2010

Why You Should Get Off The Fence

In case you missed the news, the federal government
will give you, if you buy a house, up to $8,000 for first
time buyers and up to $6,500 for current homeowners
with price, income and time limitations. The benefit
covers buyers who enter into contracts before April 30
and close by June 30.
In addition, mortgage rates are at historically low levels
with the Federal Reserve’s ongoing mortgage purchase
program. However, this program is scheduled to end
March 31. Some economists fear that will drive
mortgage rates up. So, if you’re sitting on the fence
Come to historic Locust Grove about whether or not to take advantage of the tax credits
at 561 Blankenbaker Lane on right now…don’t wait. Senate Finance Committee Chair-
man Max Baucus (D. Mont.) was credited with this
March 28th for the Emilie Strong comment, “It is important that this tax credit does not
Smith Chamber Music Series. A become a permanent fixture in the tax code.” It is
rare opportunity to enjoy music widely anticipated that the tax credits will not be renewed.
of the early 1800’s. Light refresh- Also, with the economy slowly pulling out of its deep
ments are served at 5pm, the concert recession, producer prices are rising which could also
begins at 5:30pm. impact mortgage rates. Higher prices can eventually
lghh@locustgrove.org.
lead to higher mortgage rates. Producer prices
for finished goods were up 1.4 percent in January.
This represents the third consecutive monthly advance
in prices.
Another reason to get off the fence is that the surge in
home sales over the last year was driven by buyers
responding strongly to the tax credits combined with
low mortgage rates. With inventory levels trending
down, housing market conditions will become more
balanced by late spring increasing the possibility of
higher prices.
If that’s not enough to convince you, Forbes.com just
came out with a list of the top 10 best housing markets,
and Louisville’s number 2 on the list. In order to make
the list, the housing market should have appreciating
prices that show homeowners are making wise invest-
ments, an affordability rating that gives middle-class
families with good credit entry into the market, and a
relatively low number of foreclosures, which keeps
prices stable and indicates there isn’t an excess of
inventory.

Hogan’s Fountain
Metro Parks is devel-
Louisville Real Estate UPDATE
Units Sold YTD
oping a new master
plan for the Hogan’s
Fountain area of
Cherokee Park, a 409
acre Olmsted Park
created in 1891.
Louisvilleky.gov

You know you’re in Louisville

when: You’ve shoveled 10+
inches of snow and worn shorts
in the same week. Year to Date at a Glance Month at a Glance
You’ve lived here for years, yet Sales by Price Range-Single Family Residential & Condo Residential Sales Stats Single Family Residential & Condo
get hopelessly lost when Price Range Statistics 1/1-1/31 09 1/1-1/31 10 % Change Jan. - 08 Jan. - 09 Jan. - 10
attempting a short cut through Up to $99,999 194 221 +13.9%
Cherokee Park. Houses Sold 802 529 702
$100,000-$199,999 216 301 +39.4%
$200,000-$299,999 68 112 +64.7%
Average Selling Price $172,725 $160,018 $155,995
$300,000-$399,999 26 44 +69.2%
$400,000-$499,999 8 9 +12.5% Median Selling Price $133,800 $123,000 $130,000
$500,000+ 17 15 -11.8%
ALL THE WAY HOME...425-0225
Source: Greater Louisville MLS.
There's never been a better time to
buy with the extended and expanded
home buyer tax credits and low interest
rates. Call me and let me help you
take advantage of this once in a
lifetime opportunity!

Mortgage Rates
30 Year Fixed 4.8650%
15 Year Fixed 4.25%
30 Year FHA 5%
This is not intended to solicit a currently listed property. Information
is deemed reliable, but not guaranteed.

Your Guide to Outdoor Maintenance by Dave Toht FEATURED PROPERTY

Substantial snowmelt and heavy spring rains
signal the onset of summer’s heat and humidity
in the Midwest—extreme conditions that put
stress on the exterior of a house and other
features, such as driveways and fences. Rou‐
tine outdoor maintenance helps ensure that
your property withstands nature’s challenges
while preserving the value of your investment.
1. Maintain Proper Drainage
Controlling water around the perimeter of the
house is always very important. In the Midwest,
there is a lot of expansive clay soil. Bad drainage
around the house can cause foundation
problems and basement wetness issues, as
well as mold. That means you’ll need proper
grading and gutters that are in good repair
and cleared of debris, and adequate down‐
spout extensions. None of these is an
expensive fix, but the price of neglect is
high: $3,000 or more to stabilize bowing in a
block foundation; $10,000 or more to
straighten it.
2. Clean the Gutters
3. Repair the Gutters
4. Correct the Grade
The grade should slope away from the house
at least 6 inches for every 10 feet. If possible,
use soil with some clay content to divert the
water. Or, lay down plastic sheeting, making
sure it slopes away from the house. Adhere
the edge of the plastic to the foundation
with silicone caulk. Cover the plastic with soil,
sand, or mulch. Keep the final grade at least
6 inches away from any siding or trim.
Cost ‐ $40 for 10x100 ft. roll of 4ml plastic,
$3.50 for 50lb sand, $2.50 pine bark mulch,
$6.75 silicone caulk.
For more on carpenter ants, sprinkler and spigot
maintenance, fences and gates, sidewalks, drive‐
ways and decks go to houselogic.com.

Replace Old Windows with
Energy-Efficient Models
If your windows are more than 15 years old,
you may be putting up with draftiness, windows
that stick in their frames, and skyrocketing energy
bills. Energy-efficient windows would be a
great improvement, but replacement can be
very expensive.
Windows Recoup Much of Their Cost
The range for energy-efficient window pricing
is wide, but Energy Star-qualified windows
start around $120 for a 36” x 72” single-hung
window and can go up 10 times that. With
labor, you’re looking at about $270 to $800+
per window. But that doesn’t mean the numbers
can’t make sense for you. For starters, window
replacement is one of the best home remodeling
projects in terms of investment return. For
vinyl windows, you can recoup about 75% of
the project cost in added home value, according
to Remodeling Magazine’s annual Cost vs.
Value Report. Based on the projects outlined
in Cost vs. Value, that’s a value add of about
$8,200 to $10,600. Plus, if you choose windows
that qualify for the new federal tax credit (U-
factor and solar heat gain coefficient ratings
must be 0.3 or less), you can effectively lop
$1,500 off the purchase price. You’re also
likely to see modest savings on your energy
bill. In general, you’ll save $126 to $465 a year
if single-pane windows in a 2,000-square foot
house are replaced with tax-credit-eligible
windows, according to the Efficient Windows
Collaborative*. Keep in mind, though, that the
savings can vary widely by climate, local energy
costs, and the energy efficiency of both the
windows purchased and the windows being
replaced. Finally, you may qualify for low-
interest loans or other incentives offered by
your local utility that can sweeten the deal.
Evaluate Price vs. Energy Efficiency
Energy Star labels will tell you whether a window
performs well in your climate based on ratings
from the National Fenestration Rating Council.
However, if you’re looking for windows that
qualify for the $1,500 federal tax credit, make
sure the U-factor and SHGC are both less than
or equal to 0.3 regardless of climate zone. Not
all Energy Star windows qualify.
Know the Language of Windows
It’s also helpful to familiarize yourself with
terms that appear on many window labels:
Glazing is simply the glass used in the window.
Low-E stands for low emissivity, the window’s
ability to reflect rather than absorb heat when
coated with a thin metallic substance. Low-E
coatings add up to 10% to the price of a window.
If your windows are in relatively good shape
but you’d like better insulation, you can buy
and apply Low-E films to your windows.
Gas Fills typically consist of argon or krypton
gas sandwiched between glazing layers to
improve insulation and slow heat transfer.
Spacers separate sheets of glass in a window
to improve insulating quality.
Frame Materials include vinyl, wood, aluminum,
fiberglass, and combinations of. They each
have different strengths in.
For this complete article: houselogic.com
*A coalition of government agencies, research organizations,
and Manufacturers that promotes efficient window technology.