REAL ESTATE Wakefield Reutlinger Realtors, a Berkshire Hathaway Affiliate

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Real state UPDATE Louisville

1st Quarter 2015

Wakefield Reutlinger Realtors

Year at a GlanceYear at a GlanceYear at a GlanceYear at a Glance 2013201320132013 2014201420142014 % Change% Change% Change% Change

Houses Sold 14,775 14,486 -1.96%

Avg. Selling Price $175,513 $180,200 2.67%

Sales of previously owned homes in the Greater

Louisville area finished the year at 14,486, down

2.0% from 2013, while prices were up approximately

2.7%. Inventory remained tight with approximately

11% fewer homes for sale than in December 2013.

Nationally, home sales totaled 4.93 million in 2014,

a decline of 3.1% from 2013. These results were

lower than many analyst predictions for the U. S.

housing market, and it was noted that the overall

market is moving sideways despite strong hiring,

good economic growth for much of the year and

continued low interest rates.

Federal reserve Chairwoman Janet Yellen noted,

"I've been surprised that housing hasn't recovered

more robust than it has," citing depressed household

formation and tight credit conditions for many

borrowers as possible explanations.

LouisvilleMarketUpdateDespite the lackluster year, Lawrence Yun, NAR

Chief Economist is forecasting a 7% rise in existing

home sales in 2015, spurred by a strengthening

economy, solid job gains, and a healthy increase in

home prices. "Furthermore, first-time buyers are

expected to slowly return as the economy improves

and new mortgage products are made available in the

marketplace with low down payments and private

mortgage insurance."

Despite his forecasted increase in sales, Yun cites the anticipated rise in interest rates, lenders being slow to ease underwriting standards back to normalized levels, and homeowners unwilling to move because they are comfortable with their current low interest rate, as potential speed bumps that could slow the increased pace of sales this year. To see Yun's 2015 predictions check out the graphic "Housing Expectations for 2015" on page 3 of this newsletter.

Opportunities at Opportunities at Opportunities at Opportunities at Olmsted Parks Olmsted Parks Olmsted Parks Olmsted Parks

VolunteerEventsSenecaPark

March3,1:30pm–4:30pmMeetnearbasketball

courts.Glovesandtoolsprovided.

BinghamPark

April4,10am-12pmMeetinparkinglotonCoral

Avenue.

Opportunities at Opportunities at Opportunities at Opportunities at The ParklandsThe ParklandsThe ParklandsThe Parklands

WednesdayWonders

ScienceWonderforChildrenPNCAchievementCenterMarch25,2:30-3:30pm

SpringBreakHikingCampsPNCAchievementCenterApril7,9am-4pm

Callmeforacompletelistofopportunities.

Units Sold January 1 Units Sold January 1 Units Sold January 1 Units Sold January 1 ---- December 31 December 31 December 31 December 31

EEEE

PamHibbs,REALTOR® 502-794-8319

phibbs@WRrealtors.com

Page 2

The Man Who Started it All... Frederick Law OlmstedThe Man Who Started it All... Frederick Law OlmstedThe Man Who Started it All... Frederick Law OlmstedThe Man Who Started it All... Frederick Law Olmsted Born in 1822 into a prosperous family in Hartford, Connecticut, Frederick Law Olmsted initially worked as a journalist, traveling

to England writing about the public gardens and landscapes. Upon his return, he reported on the economy of the pre-civil war South.

His friend and mentor, landscape architect Andrew Jackson Downing, introduced him to architect Calvin Vaux. With Vaux’s experience, Olmsted’s theories and political contacts, they won the 1857 competition to design and build Central Park in New York City.

Olmsted went on to gain great respect for

his designs preserving the natural landscape across the United States. He is best known for Central Park, the grounds around the U.S. Capitol and the Biltmore Estate in North Carolina.

After settling on a farm on Staten Island in 1859, Olmsted married his brother’s widow, adopted his nephew, John, and added daughter Marion and son Frederick, Jr. to the family.

Andrew Cowan invited him to Louisville in May of 1891 to meet with members of the Salmagundi Club, who were interested in developing three large parks for the city. Within days he was hired, a Parks Commission formed and 250 acres acquired for what became Cherokee Park. Shawnee, Iroquois, Seneca and the Parkways plus more than 100 public and private projects were added over the next 50 years.

He retired in 1897, passing away in 1903. The projects in Louisville were completed by his sons, whose firm, the Olmsted Brothers, closed in 1961.

THE LEGACY LIVES ON in the Olmsted parks and parkways through-out the city and now in the string of parks along Floyds Fork in eastern Jefferson County.

Over the last 120 years, the 18 Olmsted parks and 6 parkways have contributed to the quality of life for all citizens. Caring for these historic treasures and seeing that they remain valuable assets for our community is the heart of the work undertaken by the Olmsted Parks Conservancy. Looking to the future as the city grows, and building on Olmsted’s

vision of “bringing nature into neighborhoods”, 21st Century Parks, a private nonprofit corporation, was created to bring fresh vision to the development and preservation of new public parklands. The Parklands of Floyds Fork is the result: nearly 4,000 acres of parklands along 27 miles of Floyds Fork.

“Taking a break on MLK Service Day at Shelby Park”

“Paddling down Floyds Fork under the Lyons bridge in Beckley Park” Photo by John Nation

Painted by John Singer Sargent at Biltmore in 1895

Bridge in Tyler Park.

Wakefield Reutlinger Realtors Announces New Partnerships

Olmsted Parks Conservancy

& The Parklands of

Floyds Fork

The company’s agents are now supporting the parks through gift memberships, donations and community work days.

Be a Park Nut!

Open Spaces go Mainstream An open floor plan may feel like old hat, but it’s becoming a wish beyond the young hipster demographic, so you’ll increasingly see this layout in traditional condo buildings and single-family suburban homes in 2015. The reason? After the kitchen became the home’s hub, the next step was to remove all walls for greater togetherness. Design experts at Nurzia Construction Corp. recommend going a step further and adding windows to better meld indoors and outdoors.

Real Estate Insider Page 3

Dishes in the sink, toys throughout the house, stuff cover-ing every surface; this clutter not only makes our homes look bad, it makes us feel bad, too. That’s what researchers at UCLA’s Center on Everyday Lives and Families (CELF) discovered when they explored the relationship between 32 California families and the thousands of objects in their homes. The resulting book, Life at Home in The Twenty-First Century, is a rare look at how middle-class Americans use the space in their homes and interact with the things they accumulate over a lifetime. Our over-worked closets are overflowing with things we rarely touch. It turns out that clutter has a profound affect on our mood and self-esteem. CELF’s anthropologists, social scientists, and archaeologists found: A link between high cortisol (stress hormone) levels in female home owners and a high density of household objects. The more stuff, the more stress women feel. Men, on the other hand, don’t seem bothered by mess, which accounts for tensions between tidy wives and their clutter bug hubbies. Women associate a tidy home with a happy and successful family. The more dishes that pile up in the sink, the more anxious women feel. Even families that want to reduce clutter often are emotionally paralyzed when it comes to sorting and pitching objects. They either can’t break sentimental attachments to objects or believe their things have hidden monetary value. Although U.S. consumers bear only 3% of the world’s children,

we buy 40% of the world’s toys. And these toys live in every room, fighting for display space with kids’ trophies, artwork, and snapshots of their last soccer game. Although Life At Home documents the clutter problem, the book offers no solutions. But there are some simple things you can do to de-clutter your home and raise your spirits. Adopt the Rule of Five. Every time you get up from your desk or walk through a room, put away five things. Or, each hour, devote five minutes to de-cluttering. At the end of the day, you’ve cleaned an hour. Pledge to clear and clean your kitchen sink every day. It takes a couple of seconds more to place a dish in the dishwasher than dump it in the sink. A clean sink will instantly raise your spirits and decrease your anxiety. Return to yesteryear when only photos of ancestors or weddings earned a place on a shelf. Put snapshots in a family album, which will immediately de-clutter many flat surfaces. Unburden your refrigerator door. Researchers found a correlation between the number of items stuck to the fridge door and the amount of clutter throughout the house. Toss extra magnets, file restaurant menus, and place calendars in less conspicuous places. Hack out unexpected new storage space in out-of-the-way places, like under the stairs. Fill a box with items you don’t love or use. Seal the box and place it in a closet. If you haven’t opened the box in a year, donate it (unopened!) to charity.

The kitchen to the left was a traditional 1970’s Ranch in Louisville. The current owner is one of Wakefield Reutlinger’s own agents. She had the insight to take out walls between kitchen and liv-ing room as well as kitchen and dining room to pro-duce a very open and livable space. The island is large and very functional eliminating the need for wall cabinets.

The Link Between Clutter and Depression Lisa Kaplan Gordon

This is not intended to solicit a currently listed property. Information is deemed reliable, but not guaranteed.

6511GlenridgeParkPlace,Ste.10

Louisville,KY40222

WRrealtors.com

Interest Rates

Fixed 30 Year 3.500%

Fixed 15 Year 2.750%

Fixed FHA 30 Year 3.250 %

Fixed 30 Year Jumbo 3.875 %

*as of January 30, 2015- restrictions apply.

Don’t Just Shop the Rates, Check the APR Shopping around for a home loan or mortgage will help you get the best financing deal.

Ask about the loan’s annual percentage rate (APR). The APR takes into account not only the interest rate but also points, lender fees, and certain other credit charges that you may be required to pay, expressed as a yearly rate.

Ask whether the rate is fixed or adjustable. Keep in mind that when interest rates for adjustable-rate mortgages go up, generally so do the monthly payments. If the rate quoted is for an adjustable-rate mortgage, ask how your rate and loan payment will vary, including whether your loan payment will be reduced when rates go down.

Points are fees paid to the lender for the loan and are often linked to the interest rate; usually the more points you pay, the lower the rate. Ask for points to be quoted to you as a dollar amount rather than just as the number of points so that you will know how much you will actually have to pay.

A home loan often involves many fees, such as loan origination or underwriting fees, lender fees, and settlement (or closing) costs.

Every lender should be able to give you an estimate of its fees.

Some lenders require 20 % of the home’s purchase price as a down payment. However, many lenders now offer loans that require less than 20 % down, sometimes as little as 5 % on conventional loans. If a 20 % down payment is not made, lenders usually require the home-buyer to purchase private mortgage insurance (PMI) to protect the lender in case the homebuyer fails to pay. When government-assisted programs like FHA, VA, or Rural Loans are available, the down pay-ment requirements may be substantially smaller.

Ask your lender about special programs it may offer.

If PMI is required, ask what the total cost of the insurance will be and how much your monthly payment will be when the PMI is included.

You may want to obtain a written lock-in from the lender once you have decided on the loan product you want. The lock-in should include the rate that you have agreed upon, the period the lock-in lasts, and the number of points to be paid. A fee may be charged for locking in the loan rate. Lock-ins can protect you from rate increases while your loan is being processed.

Adapted from themortgagereports.com

216 Bonner Avenue $185,000 Fabulous updated 2BR home in St. Ma&hews! Refinished hardwood floors, redone kitchen with beau*ful cabinetry, granite

countertops, newer appliances, ceramic *le floors, and more. Updated full bath with new vanity, shower walls, and ceramic *le floors. New furnace, water heater, all new doors, storm doors, and double pane windows (2012), crown molding throughout,

exterior paint and new shu&ers (2013), new 1.5-car garage with electricity (2012). A must see!

PamHibbs,REALTOR® 502-794-8319