The heat map below represents the marginal demand for housing units in each county in Kentucky. The numbers indicate the number of building permits issued minus the change in the number of households. Red is good, blue is bad. As it turns out, Hardin County turns out to be the big loser in this category, at least in terms of units, but not in terms … [Read more...]
2014 KY County Heat Map
The map below ranks each county in Kentucky based on the weighted average annual compound growth rate over a ten year period for three elements of the economy: 1) Employment Growth (2004-2013), 2) Population Growth (2004-2013), and Median Household Income Growth (2003-2012). … [Read more...]
Russell Roberts, MAI
After two years of considerable toil, I earned it - the most highly respected credentials in the commercial appraisal business, the MAI designation. And I thought Ranger School was tough. No barbed wire at the Appraisal Institute but if you think there's no obstacle course, think again! Having set my course in 1990 to obtain my designation, I … [Read more...]
Signs of a Bottom?
As I noted in my last post, I've had a spate of residential subdivisions to appraise. I'd like to clarify a point. In no way am I suggesting that subdivision development is economically feasible in Hardin County, Bullitt County, etc. But the decline in home prices we've seen over the last few years may be coming to a halt. Builders are beginning to … [Read more...]
Economic Feasibility for Residential Development in Hardin County, KY?
After a long, long lull in subdivision development appraisals, I've received three assignments in the past several weeks for existing or proposed subdivision developments. But don't pop the cork on the champagne just yet. In my view, the jury is still out on the economic feasibility for residential subdivision development in most areas of Hardin … [Read more...]
YTD Home Price Trends in Elizabethtown, Kentucky
Here are year-to-date home price trends in Elizabethtown, Kentucky. To summarize the chart, as of today, the year-to-date median price of homes sold in Elizabethtown amounts to $142,500 as compared with $157,250 a year ago. This represents a -9.38% change from 2013. Not. Awesome. Anyhow, here's the chart. … [Read more...]
Home Price Trends in Hardin County, Kentucky
Home Price Trends | Hardin County, Kentucky As a commercial appraiser, I'm always curious about commercial real estate trends. As a homeowner, I'm also interested in trends affecting the single family residential market. So I've been doing a little research on the housing market around Elizabethtown, Kentucky. Here are the median home value … [Read more...]
The Limitations of Regression Analysis in Appraisal Work
Real Estate Appraisals: Art or Science? I sometimes jokingly remark to my wife, Erin, that "appraising is much like building a house or making sausage...you don't always want to see how they're made." Like the imperfections hidden behind painted drywall in the building process or the spooning cuts of Italian sausage neatly presented at the meat … [Read more...]
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