Wo|oiolo Roollinqor Roollors, o 8or|s|iro Hol|owoy /iliolo

ALL 1R WA RUM...425-0225
Real

Louisville
1sl Coorlor 2C14
WakeIield Reutlinger Realtors
ear at a 0lanoe 1an1-Ueo.31 1an1-Ueo.31 ohange
ouses 3old 12,723 14,803 16.35
Avg. 3elling Prioe $168,528 $175,665 4.23
.
The PGA Championship
returns to Valhalla Golf
Club for the first time in 14
years. Extensive changes,
including new greens for all
18 holes to the venerable
course, mean players will
face a new and exacting
challenge at the 2014
PGA Championship.
August 4-10, 2014.
For more information visit
www.pga.com/ pgachampionship/
Cont. pg. 2
Sales Ior the year 2013 totaled 14,803,
the most houses sold since 2006's at
15,185, and were 16 higher than
2012. The average sales price Ior the
Greater Louisville area rose 4.2 Ior
the year 2013. "By all measures,
2013 was a strong year Ior the Greater
Louisville housing market," said
GLAR President Lester Sanders. "Strong sales volume,
increasing average sales prices and aIIordable Iinancing
combined to make 2013 shine," President Sanders added.
Nationally, existing home sales Ior 2013 were also the
highest since 2006 and 9 higher than 2012.
Lawrence Yun, NAR ChieI Economist, said housing
has experienced a healthy recovery over the past year.
"Existing home sales have risen nearly 20 since
2011, with job growth, record low mortgage rates and
a large pent-up demand driving the market," he said.
'We lost some momentum toward the end oI 2013
Irom disappointing job growth and limited inventory,
but we ended with a year that was close to normal
given the size oI our population."
NAR President Steve Brown said that
with jobs expected to improve this year,
sales should hold even despite rising
home prices and higher mortgage interest
rates. "The only Iactors holding us back
Irom a stronger recovery are the ongoing
issues oI restrictive mortgage credit and
constrained inventory," he said.
Eor 2014, Yun expects another year oI tepid indicators as
evidenced by gross domestic product (GDP) growth that
has languished below 3. He expects home prices to
rise 6, sales to slow slightly and mortgage rates to climb to
5.4. Yun says the inventory shortage Ieels less tight
now, with much oI the country in the winter slow time,
but a lack oI new construction portends another shortage
in the spring. He counts only 900,000 housing starts in
the past year, well below his Iorecast oI 1.1 million homes.
"The inventory shortage will not go away," Yun says.
"Come springtime, you will Ieel the lack oI inventory
again." The lack oI inventory also will wreak havoc on
A Healthy Housing Recovery
Existing home sales Ior December oI 2013 rose a healthy 17 over December oI 2012 Ior the
Greater Louisville area. December's increase was the Louisville area's 10th consecutive growth
quarter. The last decline was in the second quarter oI 2011.
NAR`s Predictions for 2014
ow the housing market will
ohange this year, aooording
to Lawrenoe un's foreoast:
ome prioes will rise 6
ome sales will be flat.
Rates will olimb to 5.4
The PGA Championship
Un|ts So|d Ianuary-December
Average 3ales Prioe 0reater Louisville Area
2012 - 2013
TESTIMONIAL
'3usarrar Was araz|rg
|r re|p|rg re l|rd ry reW
rore |r Lou|sv|||e. '3re
Was ex|rere|y pa||er| ard
persorao|e. 'l| Was ar
erjoyao|e exper|erce W||r
ar erd resu|| |ra| l ar
very exc||ed aoou|.
-- vanessa Ta,|or
Page 2 Real Lst at e Insi der Page 3
very useful web 3ites
Lmergenoy alerts: lree notifioation of severe weather, natural disasters,
homeland seourity advisories and other looal emergenoies. Alerts oan
be sent to oell phones, email address and/orpagers.
www.LmergenoyLMail.org
Baok and neok pain relief: Medioations, ohiropraotio and other treatments.
exeroises to inorease strength and flexibility.surgery videos.user forums.
www.3pineealth.oom
3marter home spruoe ups: Lasy bathroom fixes, driveway and window repair,
interior/exterior painting, deok oare and other topios. lnoludes videos and a Q&A
seotion. www.Uoltourself.oom
0row your own food: Blueberries, oherries and other
fruits_www.gardening.oornell.edu/fruit/homefruit.html. erb-
www.erb0ardeningluru.oom vegetables- www.Baokyard0ardener.oom/veg
watoh the ohanging seasons: 1oin thousands of people in reporting when plants
leaf out, flowers bloom and fruit ripens looally. An environmental projeot spon-
sored by the National 3oienoe loundation. www.BudBurst.org
lree wake-up oalls: ou'll get a oall with a fun message at the designated time.
www.wakeupUialer.oom
Impnrtunt New Mnrtguge BeInrmx
Louisville got a lot of attention in 2013.
GotoLouisville.com points out a slew
of dining, travel and lifestyle accolades
the city raked in last year:
EAT
Carage Bar's pizza named
on Food & Wines list of Best
Pizza in Unexpected Places.
Holy Crale and Sergio's
World of Beers made Draft
Magazines Top 100 Beer
Bars list.
Sunergos made Zagats
United Statesof Coffee: 50
States, 50 Must-Try Coffee
Shops list.
Zagat namedLouisville one of 7 Up-
and-Coming Food Cities in the U.S.
Food & Wine namedEast Market
Street as one of the 10 Best Foodie
Streets in America.
New mortgage-lending rules have just
taken eIIect that Iederal regulators say will
guard against the risky lending practices
that contributed to the mortgage meltdown
and subsequent Iinancial crisis and
recession in 2009. Under the 2010 Dodd-
Erank legislation, mortgage lenders must
make sure borrowers can actually aIIord
their loans over the long term by weighing
their income, assets, savings and debt
against their monthly house payments.
Another important part oI the new
regulations is the 'QualiIied Mortgage
or QM. A QualiIied Mortgage meets the
new guidelines, and borrowers who get
them are presumed to meet the ability-to-
repay requirements. II lenders make QM
loans, they have more protections against
Iuture lawsuits should the loans later go
sour.
QM loans cannot contain risky Ieatures
such as terms that exceed 30 years, interest-
only payments or payments that are less
than the Iull amount oI interest, so the home
loan debt doesn`t grow each month. They
also cannot carry more than 3 in upIront
points and Iees Ior loans above $100,000.
In addition, QM loans can`t push a
borrower`s total debt load above 43 oI
his or her monthly income, unless the loan
is eligible to be backed by Eannie Mae or
Ereddie Mac, or a Iederal housing agency
such as the EHA, or is made by a small
lender that keeps the loan on its books.
Capping debt is a
signiIicant change.
There has never
been a debt-to-
income ratio cap
in the past.
Lenders can still
make loans outside
the guidelines, but
they`ll still have to
make sure borrowers
can aIIord the
loans, and they`ll
have less protection
against Iuture legal
challenges iI the
borrower Iails
even iI they resell
the loan aIter they Iirst make it. Down
payments will still be entirely up to the
lender and home buyer.
There is concern that the tighter lending
standards will make it more diIIicult Ior
many potential buyers to qualiIy Ior
mortgages which could negatively aIIect
the housing market. It may be tougher
Ior borrowers to qualiIy iI they have
diIIicult-to-validate incomes, including
those Ior whom tips, bonuses, commissions,
rents or investments constitute a big part
oI their total income. One in nine
Americans are also selI-employed, and
that income is harder to substantiate than
wage income.
All Eyes are on Louisville
Silver Dollar wasnamed one of the
10 Best Whiskey Bars by GQ magazine.
Milkwood, 10 Magnolia, Proof on
Main andSeviche were named on
Southern Livings Daily South:
100 Places to Eat Now list.
NuLu is one of Zagats 20 Hot
Food Neighborhoods in 12
U.S. Cities.
Proof on Main named No. 3
in the top 10 list of Americas
Best Hotel Bars by USA Today.
Hot Brown named one of
AmericasBest Sandwiches by
Travel and Leisure magazine.
PLAY
Mega Zips at Mega Cavern named one
of The Worlds Craziest Zip Lines by
The Active Times.
The KFC Yum! Center was ranked as
one of the countrys top 10 arenas by
Rolling Stone magazine.
Rodes menswear boutique was again
named in Esquire magazines Best of
Class on The Gold Standard list.
LouisvillesCrescent Hill neighborhood
was named as one of the Best Halloween
Neighborhoods in America by AOL Travel.
Louisville is the 9th most "Hipster"
City in America, according to Thrillist.com.
STAY
21c Museum Hotel's Spa named No.
44 in the Top 75 U.S. Hotel Spas by
Conde Naste Traveler.
Louisville was named to Priceline.coms
top 10 list for Americas best cities for
people traveling with pets.
Louisville landed on ConventionSouths
2013 Editors Hot Picks for Souths Smartest
Medical Cities for Groups.
Louisville was selected as Kentuckys
Southern Hospitality City by Convention-
South magazine.
Louisville was named to top 10 best
places to retire in AARP The Magazine.
9 Easy Mistakes Home
Owners Make on Their
Taxes By: G. M. Filisko
Deducting the wrong year for
property taxes.
You take a tax deduction Ior property taxes
in the year you (or the holder oI your escrow
account) actually paid them. Some taxing
authorities work a year behind that is,
you`re not billed Ior 2013 property taxes
until 2014. But that`s irrelevant to the Ieds.
Enter on your Iederal Iorms whatever
amount you actually paid in 2013, no matter
what the date is on your tax bill.
Confusing escrow amount for actual
taxes paid.
II your lender escrows Iunds to pay your
property taxes, don`t just deduct the amount
escrowed. The regular amount you pay into
your escrow account each month to cover
property taxes is probably a little more or
less than your property tax bill. Your lender
will adjust the amount every year or so to
realign the two. Eor example, your tax bill
might be $1,200, but your lender may have
collected $1,100 or $1,300 in escrow over
the year. Deduct only $1,200. Your lender
will send you an oIIicial statement listing
the actual taxes paid.
Deducting points paid to refinance.
Deduct points you paid your lender to
secure your mortgage in Iull Ior the year
you bought your home. However, when
you reIinance, you must deduct points
over the liIe oI your new loan. II you paid
$2,000 in points to reIinance into a 15-year
mortgage, your tax deduction is $133 per
year.
Misjudging the home office tax deduction.
This deduction may not be as good as it
seems. It's complicated, oIten doesn`t
amount to much oI a deduction, has to be
recaptured iI you turn a proIit when you
sell your home, and can pique the IRS`s
interest in your return. Claim it only iI it`s
worth those drawbacks.
Failing to repay the first-time home
buyer tax credit.
II you used the original home buyer tax
credit in 2008, you must repay 1/15th oI
the credit over 15 years. II you used the
tax credit in 2009 or 2010 and then sold
your house or stopped using it as your
primary residence within 36 months oI
the purchase date, you also have to pay
back the credit. The IRS has a tool you
can use to help Iigure out what you owe.
Failing to track home-related expenses
II the IRS comes a-knockin`, don`t be
scrambling to compile your records.
Many people Iorget to track home oIIice
and home maintenance and repair
expenses. Eile away documents as
you go. Eor example, save each
manuIacturer's certiIication statement
Ior energy tax credits and lender or
government statements to conIirm
property taxes paid.
Forgetting to keep track of capital
gains.
II you sold your main home last year,
don`t Iorget to pay capital gains taxes
on any proIit. You can exclude $250,000
(or $500,000 iI you`re a married couple)
oI any proIits Irom taxes.
Filing incorrectly for energy tax credits.
II you made any eligible improvements
in 2012 -- or will in 2013 -- such as
installing energy-eIIicient windows
and doors, you may be able to take a
10 tax credit (up to $500; with some
systems your cap is even lower than
$500). But keep in mind, it's a liIetime
credit. II you claimed the credit in any
recent years, you're done. Eill out Eorm 5695.
Claiming too much for the mortgage
interest tax deduction.
You can deduct mortgage interest only
up to $1 million oI mortgage debt.
Borrowers above the 43 debt-to-income
level will also Iace more hurdles, but
mostly in terms oI documentation.
Borrowers should expect to have to produce
even more tax records, pay stubs and
bank and investment account inIormation.
The 43 standard may also prevent
some borrowers Irom qualiIying Ior the
loan needed to buy the house they want.
Others may need bigger down payments
to stay within the 43 standard.
Keep all oI this in mind iI you`re thinking
about purchasing a new home in the near
Iuture as there will certainly be bumps in
the road while the new guidelines are
being implemented.
aIIordability. "The only way to tame price increases is
with more inventory," Yun says.
Perhaps rising prices will cure some oI the inventory problem.
Millions oI homeowners have been trapped in their
houses by loan balances that are higher than their property
value, but many borrowers have regained home equity.
"You may see some increased velocity as below-water
owners come above water," Yun says.
Eor a sustained recovery, Americans need good-paying
jobs, and the U.S. labor market hasn't obliged. While the
job market has improved, with the national unemployment
rate standing at 6.7 percent in December, about halI oI the
jobs created have been low wage according to a recent study.
Those low-wage jobs certainly aren't going to spur
twenty-somethings to move out oI their parents' houses,
Yun says. "We are still short by 6 million to 8 million
jobs."
Jobs aren't the only area oI concern. Tight lending
standards make it diIIicult Ior many potential buyers to
qualiIy Ior mortgages. That means some people who'd
like to buy homes aren't able to do so.
Amid concerns oI the rich getting richer and the working
poor and middle class losing ground, Yun worries that
barriers to entry into the housing market could create
"more unequal distribution in wealth."
"Housing is the primary determinant oI wealth distribution in
America," Yun says. "Today, because oI tight underwriting
standards, we have too many good renters not able to
convert into homeownership, and hence, because oI
that, automatically, we will get more unequal
distribution oI wealth in America."
Cont.
1he medlan amount
Amerlcan homeowners
pay per month lor thelr mortgage
ls $1,013, says new data lrom
the Census 8ureau's 2011
Amerlcan Pouslng Survey.
1he mldpolnt prlce pald lor homes
was $110,000 and the medlan
home value was $160,000. 1he
medlan u.S. home was bullt ln
1974 - hall were older and hall
were newer.
Page 2 Real Lst at e Insi der Page 3
very useful web 3ites
Lmergenoy alerts: lree notifioation of severe weather, natural disasters,
homeland seourity advisories and other looal emergenoies. Alerts oan
be sent to oell phones, email address and/orpagers.
www.LmergenoyLMail.org
Baok and neok pain relief: Medioations, ohiropraotio and other treatments.
exeroises to inorease strength and flexibility.surgery videos.user forums.
www.3pineealth.oom
3marter home spruoe ups: Lasy bathroom fixes, driveway and window repair,
interior/exterior painting, deok oare and other topios. lnoludes videos and a Q&A
seotion. www.Uoltourself.oom
0row your own food: Blueberries, oherries and other
fruits_www.gardening.oornell.edu/fruit/homefruit.html. erb-
www.erb0ardeningluru.oom vegetables- www.Baokyard0ardener.oom/veg
watoh the ohanging seasons: 1oin thousands of people in reporting when plants
leaf out, flowers bloom and fruit ripens looally. An environmental projeot spon-
sored by the National 3oienoe loundation. www.BudBurst.org
lree wake-up oalls: ou'll get a oall with a fun message at the designated time.
www.wakeupUialer.oom
Impnrtunt New Mnrtguge BeInrmx
Louisville got a lot of attention in 2013.
GotoLouisville.com points out a slew
of dining, travel and lifestyle accolades
the city raked in last year:
EAT
Carage Bar's pizza named
on Food & Wines list of Best
Pizza in Unexpected Places.
Holy Crale and Sergio's
World of Beers made Draft
Magazines Top 100 Beer
Bars list.
Sunergos made Zagats
United Statesof Coffee: 50
States, 50 Must-Try Coffee
Shops list.
Zagat namedLouisville one of 7 Up-
and-Coming Food Cities in the U.S.
Food & Wine namedEast Market
Street as one of the 10 Best Foodie
Streets in America.
New mortgage-lending rules have just
taken eIIect that Iederal regulators say will
guard against the risky lending practices
that contributed to the mortgage meltdown
and subsequent Iinancial crisis and
recession in 2009. Under the 2010 Dodd-
Erank legislation, mortgage lenders must
make sure borrowers can actually aIIord
their loans over the long term by weighing
their income, assets, savings and debt
against their monthly house payments.
Another important part oI the new
regulations is the 'QualiIied Mortgage
or QM. A QualiIied Mortgage meets the
new guidelines, and borrowers who get
them are presumed to meet the ability-to-
repay requirements. II lenders make QM
loans, they have more protections against
Iuture lawsuits should the loans later go
sour.
QM loans cannot contain risky Ieatures
such as terms that exceed 30 years, interest-
only payments or payments that are less
than the Iull amount oI interest, so the home
loan debt doesn`t grow each month. They
also cannot carry more than 3 in upIront
points and Iees Ior loans above $100,000.
In addition, QM loans can`t push a
borrower`s total debt load above 43 oI
his or her monthly income, unless the loan
is eligible to be backed by Eannie Mae or
Ereddie Mac, or a Iederal housing agency
such as the EHA, or is made by a small
lender that keeps the loan on its books.
Capping debt is a
signiIicant change.
There has never
been a debt-to-
income ratio cap
in the past.
Lenders can still
make loans outside
the guidelines, but
they`ll still have to
make sure borrowers
can aIIord the
loans, and they`ll
have less protection
against Iuture legal
challenges iI the
borrower Iails
even iI they resell
the loan aIter they Iirst make it. Down
payments will still be entirely up to the
lender and home buyer.
There is concern that the tighter lending
standards will make it more diIIicult Ior
many potential buyers to qualiIy Ior
mortgages which could negatively aIIect
the housing market. It may be tougher
Ior borrowers to qualiIy iI they have
diIIicult-to-validate incomes, including
those Ior whom tips, bonuses, commissions,
rents or investments constitute a big part
oI their total income. One in nine
Americans are also selI-employed, and
that income is harder to substantiate than
wage income.
All Eyes are on Louisville
Silver Dollar wasnamed one of the
10 Best Whiskey Bars by GQ magazine.
Milkwood, 10 Magnolia, Proof on
Main andSeviche were named on
Southern Livings Daily South:
100 Places to Eat Now list.
NuLu is one of Zagats 20 Hot
Food Neighborhoods in 12
U.S. Cities.
Proof on Main named No. 3
in the top 10 list of Americas
Best Hotel Bars by USA Today.
Hot Brown named one of
AmericasBest Sandwiches by
Travel and Leisure magazine.
PLAY
Mega Zips at Mega Cavern named one
of The Worlds Craziest Zip Lines by
The Active Times.
The KFC Yum! Center was ranked as
one of the countrys top 10 arenas by
Rolling Stone magazine.
Rodes menswear boutique was again
named in Esquire magazines Best of
Class on The Gold Standard list.
LouisvillesCrescent Hill neighborhood
was named as one of the Best Halloween
Neighborhoods in America by AOL Travel.
Louisville is the 9th most "Hipster"
City in America, according to Thrillist.com.
STAY
21c Museum Hotel's Spa named No.
44 in the Top 75 U.S. Hotel Spas by
Conde Naste Traveler.
Louisville was named to Priceline.coms
top 10 list for Americas best cities for
people traveling with pets.
Louisville landed on ConventionSouths
2013 Editors Hot Picks for Souths Smartest
Medical Cities for Groups.
Louisville was selected as Kentuckys
Southern Hospitality City by Convention-
South magazine.
Louisville was named to top 10 best
places to retire in AARP The Magazine.
9 Easy Mistakes Home
Owners Make on Their
Taxes By: G. M. Filisko
Deducting the wrong year for
property taxes.
You take a tax deduction Ior property taxes
in the year you (or the holder oI your escrow
account) actually paid them. Some taxing
authorities work a year behind that is,
you`re not billed Ior 2013 property taxes
until 2014. But that`s irrelevant to the Ieds.
Enter on your Iederal Iorms whatever
amount you actually paid in 2013, no matter
what the date is on your tax bill.
Confusing escrow amount for actual
taxes paid.
II your lender escrows Iunds to pay your
property taxes, don`t just deduct the amount
escrowed. The regular amount you pay into
your escrow account each month to cover
property taxes is probably a little more or
less than your property tax bill. Your lender
will adjust the amount every year or so to
realign the two. Eor example, your tax bill
might be $1,200, but your lender may have
collected $1,100 or $1,300 in escrow over
the year. Deduct only $1,200. Your lender
will send you an oIIicial statement listing
the actual taxes paid.
Deducting points paid to refinance.
Deduct points you paid your lender to
secure your mortgage in Iull Ior the year
you bought your home. However, when
you reIinance, you must deduct points
over the liIe oI your new loan. II you paid
$2,000 in points to reIinance into a 15-year
mortgage, your tax deduction is $133 per
year.
Misjudging the home office tax deduction.
This deduction may not be as good as it
seems. It's complicated, oIten doesn`t
amount to much oI a deduction, has to be
recaptured iI you turn a proIit when you
sell your home, and can pique the IRS`s
interest in your return. Claim it only iI it`s
worth those drawbacks.
Failing to repay the first-time home
buyer tax credit.
II you used the original home buyer tax
credit in 2008, you must repay 1/15th oI
the credit over 15 years. II you used the
tax credit in 2009 or 2010 and then sold
your house or stopped using it as your
primary residence within 36 months oI
the purchase date, you also have to pay
back the credit. The IRS has a tool you
can use to help Iigure out what you owe.
Failing to track home-related expenses
II the IRS comes a-knockin`, don`t be
scrambling to compile your records.
Many people Iorget to track home oIIice
and home maintenance and repair
expenses. Eile away documents as
you go. Eor example, save each
manuIacturer's certiIication statement
Ior energy tax credits and lender or
government statements to conIirm
property taxes paid.
Forgetting to keep track of capital
gains.
II you sold your main home last year,
don`t Iorget to pay capital gains taxes
on any proIit. You can exclude $250,000
(or $500,000 iI you`re a married couple)
oI any proIits Irom taxes.
Filing incorrectly for energy tax credits.
II you made any eligible improvements
in 2012 -- or will in 2013 -- such as
installing energy-eIIicient windows
and doors, you may be able to take a
10 tax credit (up to $500; with some
systems your cap is even lower than
$500). But keep in mind, it's a liIetime
credit. II you claimed the credit in any
recent years, you're done. Eill out Eorm 5695.
Claiming too much for the mortgage
interest tax deduction.
You can deduct mortgage interest only
up to $1 million oI mortgage debt.
Borrowers above the 43 debt-to-income
level will also Iace more hurdles, but
mostly in terms oI documentation.
Borrowers should expect to have to produce
even more tax records, pay stubs and
bank and investment account inIormation.
The 43 standard may also prevent
some borrowers Irom qualiIying Ior the
loan needed to buy the house they want.
Others may need bigger down payments
to stay within the 43 standard.
Keep all oI this in mind iI you`re thinking
about purchasing a new home in the near
Iuture as there will certainly be bumps in
the road while the new guidelines are
being implemented.
aIIordability. "The only way to tame price increases is
with more inventory," Yun says.
Perhaps rising prices will cure some oI the inventory problem.
Millions oI homeowners have been trapped in their
houses by loan balances that are higher than their property
value, but many borrowers have regained home equity.
"You may see some increased velocity as below-water
owners come above water," Yun says.
Eor a sustained recovery, Americans need good-paying
jobs, and the U.S. labor market hasn't obliged. While the
job market has improved, with the national unemployment
rate standing at 6.7 percent in December, about halI oI the
jobs created have been low wage according to a recent study.
Those low-wage jobs certainly aren't going to spur
twenty-somethings to move out oI their parents' houses,
Yun says. "We are still short by 6 million to 8 million
jobs."
Jobs aren't the only area oI concern. Tight lending
standards make it diIIicult Ior many potential buyers to
qualiIy Ior mortgages. That means some people who'd
like to buy homes aren't able to do so.
Amid concerns oI the rich getting richer and the working
poor and middle class losing ground, Yun worries that
barriers to entry into the housing market could create
"more unequal distribution in wealth."
"Housing is the primary determinant oI wealth distribution in
America," Yun says. "Today, because oI tight underwriting
standards, we have too many good renters not able to
convert into homeownership, and hence, because oI
that, automatically, we will get more unequal
distribution oI wealth in America."
Cont.
1he medlan amount
Amerlcan homeowners
pay per month lor thelr mortgage
ls $1,013, says new data lrom
the Census 8ureau's 2011
Amerlcan Pouslng Survey.
1he mldpolnt prlce pald lor homes
was $110,000 and the medlan
home value was $160,000. 1he
medlan u.S. home was bullt ln
1974 - hall were older and hall
were newer.
.
6511 Glenridge Park Place, Ste. 10
Louisville, KY 40222
1nterest Rotes
Fixed 30 Year 4.25 %
Fixed 15 Year 3.375 %
Fixed FHA 30 Year 3.75%
Fixed 30 Year Jumbo 4.625%
*as of Feb. 12, 2014 - restrictions apply.
Prioe 1ags Rise as
omes 0et Costlier to
Build
Uaily Real Lstate News
3ingle-family home oonstruotion oosts are at the
highest levels sinoe 1998, aooording to a new
report by the National Assooiation of ome Builders.
Costs were signifioantly higher in 2013 when
oompared to 2011 average oonstruotion oosts
$246,453 in 2013 versus $184,125 in 2011.
lraming and trusses aooount for the largest
share of oonstruotion oosts, and a rise in the oost
of lumber is most likely to blame, the NAB report
notes. 1he oost of softwood lumber rose 40 peroent
between April 2011 and April 2013, aooording to
the Bureau of Labor 3tatistios' Produoer Prioe lndex.
Although lot sizes are shrinking, both the oost
and size of the home are on the rise," eather
1aylor of NAB's Loonomios and ousing Polioy
group notes in the report. 1he average home in
2013 was built on 14,359 square feet (or about
a third of an aore) of land, the report notes. 1he
average home boasted 2,607 square feet of finished
area.
NAB broke down the oost of oonstruotion on
new single-family homes into the following eight
major stages of oonstruotion:
lnterior finishes aooount for 29.3 of oonstruotion
oosts
lraming: 19.1
Lxterior finishes: 14.4
Major system rough-ins: 13.4
loundations: 9.5
3ite work: 6.8
linal steps: 6.6
0ther oosts: 0.9
Souroe. 0osr of 0onsrruor|ng a
lome, Nar|ona| 4ssoo|ar|on of
lome Bu||oers
Interchangeable Accents
" think we'll see a trend
towards chameleon decor.
nstead of settling on one
fixed look, people will opt
for a versatile neutral base
and use big-impact accents
to easily change their decor."
Arianna Vargas, ariannbelle.com
Glamour
Move over white walls, in
2014 we'll be seeing rooms
with a lot more drama and
glamour. Dark, moody
walls in black will be the
perfect backdrop to the
metallic accessories that
we're all loving right now."
Jeanine Hays, aphrochic.com
Vintage
"Thanks to social media,
the lifespan of a trend has
been cut in half. We're all a
little overexposed. think
vintage and one-of-a-kind
pieces will be highly sought
after. t's the curiosities that
make a house a home and
keep your guests asking:
"Where did you get that?"
Lindsay Souza
Uesign Bloggers
Prediot what
1rends will Be ot
in 2014 By 3arah Bray
This is not intended to solicit a currently listed property.
Information is deemed reliable, but not guaranteed.
Doris Bell, REALTOR

Doris is a Louisville native, enthusiastic about her city, and excited

to share her love and knowledge of Lou-a-vul with clients.
She has worked with Louisville's largest relocation companies, assisting
corporate clients in relocating employees to and from Louisville.
Her understanding of our market, the mortgage process,
public and private school strengths, church connections, referrals for doctors,
hairdressers, or where you may find "it", will make your transition
a positive experience, across town or across country.
If you or anyone you know is in need of Doriss services,
call or email her today! 502-262-3685 / dbell@WRrealtors.com