October 27, 2010

ONCE IN A LIFETIME EXTREME FUND RAISER

Elite Homes, Inc. offers exclusive tour of Extreme Makeover: Home Edition home in Fairdale

It's a once-in-a-lifetime chance for 12 special people to see the Elite Homes, Inc. Extreme Makeover: Home Edition home BEFORE the show is aired in 2011.


The twelve people can tour the entire home currently being built for the Lampe family of Fairdale, Kentucky, this Friday, October 29, before the Lampe's move back into the home, making further private tours impossible.


"We're helping raise the necessary funds the Lampe family needs to pay off the mortgage on their former house," explains Joe Pusateri, Elite Homes, Inc. President Joe Pusateri. "There are costs associated with being chosen an Extreme Makeover: Home Edition family, and we want to ensure the Lampe's new home doesn't become a financial burden. We aim to help the Lampe's pay off their mortgage, meet their medical expenses so they can continue their work in the community."


Tickets for the tour cost
$ 1,000 each, with all of the proceeds going directly to the Lampe family.
To sign up visit www.EliteExtremeDream2010.com

October 15, 2010

WE’LL “STUFF THAT BUS!”TM BEFORE WE MOVE THAT EXTREME MAKEOVER: HOME EDITION BUS!

Elite Homes, Inc. builds partnership to collect 20 tons of food for area children and families


Louisville, KY., October 13, 2010 –

Elite Homes, Inc., announces “Stuff That Bus!” a high-profile food drive in partnership with Metro United Way, Dare To Care, TARC, and the Jefferson County Public Schools (JCPS). Other project partners include: Gordon Food Service (GFS) and Mattingly Foods. The “Stuff That Bus!” food drive starts this Saturday, October 16, at the Extreme Makeover: Home Edition Pep Rally to be held at Highview Baptist Church, 15201 Shelbyville Road in Louisville, from 10:00 am until Noon. The public is encouraged to attend (and bring cans of food!). The TARC bus to be filled will be on display at the Pep Rally. “We aim to tap the overwhelming community support we anticipate for the upcoming Extreme Makeover: Home Edition build and turn it into food for our area’s folks who are in need. We will stuff a TARC bus full of non-perishable food in the next three weeks!” said Joseph “Joey” Pusateri, Permitting and Closing Specialist at Louisville’s Elite Homes, Inc. Pusateri is the son of Joe Pusateri, president and founder of Elite Homes.


“Our collected food will benefit Dare to Care Food Bank and its programs, especially Kids Cafe, that support children and their families. We know everyone who attends the Extreme Makover: Home Edition Pep Rally on Saturday the 16th, or who comes out to visit the awesome home being built in a week won’t mind bringing at least one can of food to help others. We’re sure many will bring as many cans of food as they can carry. Then we can start to ‘Stuff That Bus!’” Pusateri said.


Area collection points include: all Jefferson County Public Schools and Louisville area GFS Marketplace Store locations. Members of the public who want to travel to view the construction at Elite Homes’ Extreme Makeover: Home Edition construction site are encouraged to bring at least one can of food per person to the transportation site, where they will travel by TARC bus to the build. The location of the transportation site will be disclosed after the lucky family is contacted by Ty Pennington and the Extreme Makeover: Home Edition design team.
The “Stuff That Bus!” food drive’s goal of 20 tons of food certainly captures the extremely large spirit of Extreme Makeover: Home Edition. Elite Homes’ partners in the food drive are excited about participating in “Stuff That Bus!”


Brett Michel, General Manager of Gordon Food Service is pleased to help again, saying “This is the second time GFS has been involved. It was such a great experience in 2007! While we’re not swinging hammers to help Elite Homes build the Extreme Makeover: Home Edition house, we’re doing what we do best - Gordon Food Service offers such a wide variety of nutritious food, we’re happy to help provide our food to area children who are in need.” Jackie Pineo, GFS Assistant Manager agreed, saying “GFS Marketplace® is pleased to be part of a great community service project like ‘Stuff That Bus!’ We believe in serving our community and are proud to support a great organization like Dare to Care.” “TARC is honored to provide a bus during the Extreme Makeover Home Edition build in Louisville and we urge everyone to help stuff it with food for the Dare to Care program. Let’s make this another big community success,” said J. Barry Barker, executive director of TARC and this year’s voluntary chairman of the Metro United Way campaign.


Stephen Hall of Mattingly Foods agreed, saying “We look forward to working on the ‘Stuff That Bus!’ project and we are excited Elite Homes thought of us as the right partner to accomplish something so worthwhile.”
Brian Riendeau, Executive Director of Dare to Care explains the significance of the partnership
this way: “Kentuckiana faces a crisis where nearly 200,000 people needed food assistance in the past year, a 67% increase in four years. We have been able to address this crisis because our community has united and provided Dare to Care the support we need. Elite Homes spearheading ‘Stuff That Bus!’ is another example of Kentuckiana’s unique generosity.”


JCPS Superintendent Sheldon Berman explains the school system’s participation, saying, “Social responsibility is a big part of the work we emphasize among JCPS students and employees. Participating in ‘Stuff That Bus!’ is an excellent way for our students and employees to demonstrate their sense of caring for our community.”
Metro United Way’s Kelly Garvey said “We are excited to partner with Elite Homes and Dare to Care Food Bank during the Extreme Makeover: Home Edition build to help connect people to volunteer to ensure children in our communities are well fed in order to succeed in school.”


Because hunger is a real problem in Metro Louisville (and across the nation)
Why has “Stuff That Bus!” focused on Dare to Care Kid’s Cafe? Because if children aren’t healthy, with access to good nutritional meals, they have no chance of success in the classroom or in life. One in five Kentuckiana children are at risk of going to bed without the food they need to live a heathy life. Over 70,000 children locally received food assistance from Dare to Care Food Bank in the past year. Intellectual and emotional development are threatened by this unacceptable level of food insecurity among our youth.


About Elite Homes, Inc.
Elite Homes, Inc., founded in 1976, is a prominent home building company in the
Louisville, Kentucky area, designing and building or remodeling 40 - 75 custom homes a year
ranging in price from $250,000 to over $1,000,000.


About Metro United Way
Metro United Way’s mission is to improve lives by mobilizing the caring power of our community.
For over 90 years, Metro United Way has worked diligently to create the most vital, caring community in the nation, while at the same time respecting the diversity that makes our community
unique. When you invest in your community through Metro United Way, you help to advance the common good by focusing on education, income and health. These are the building blocks for a good life-a quality education that leads to a stable job, enough income to support a family through retirement, and good health. With our agencies and partners, we help provide vital services to individuals and families and connect people to needed services through 2-1-1. We also prepare our youngest children to enter school ready to succeed with programs like Success By 6 and the Gheens Bridges to Tomorrow Initiative, which simultaneously coaches students’ parents in the principles of fiscal responsibility. Metro United Way serves a seven-county area that includes Jefferson, Oldham, Shelby and Bullitt counties in Kentucky, and Floyd, Harrison and Clark counties in Indiana.


About Fifth Third Bancorp
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati,
Ohio. The Company has $116 billion in assets, operates 16 affiliates with 1,306 full-service Banking Centers, including 99 Bank Mart locations open seven days a week inside select grocery stores and 2,355 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 49% interest in Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2009, has $180 billion in assets under care, of which it managed $24 billion for individuals, corporations and not-for-profit organizations.
Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the NASDAQ National Global Select Market under the symbol “FITB.”


About ABC-TVs Extreme Makeover: Home Edition
The Emmy award winning reality program Extreme Makeover: Home Edition, now in its 8th season, is produced by Endemol USA, a division of Endemol Holding. It’s executive-produced by Brady Connell and George Verschoor. David Goldberg is Chairman, Endemol North America. The show airs Sundays from 8:00-9:00 p.m., ET on ABC.

October 14, 2010

Making dreams come true once again!

Extreme Makeover: Home Edition is coming back to Louisville. And local construction companies are coming together for the project of building a home from the ground up for a local family. Elite Built Homes and brothers Joe and Rocky Pusateri lead the effort for a second time. In 2007, Extreme Makeover: Home Edition came to Louisville and gave a new home to Patrick Henry Hughes.

Now, they are looking for volunteers and craftsman willing to donate time and materials for a project to begin on October 23rd. A pep rally and volunteer meeting is set for Saturday, October 16th from 10 a.m. to noon at the Highview Baptist Church at 12123 Shelbyville Road.

If someone wants to know how they can help the builders, the family or just show their support for the project, they are invited them to come out. Anyone interested should go to www.EliteBuiltHomes.com for information.

Metro mayor candidates Greg Fischer and Hal Heiner plan to attend the pep rally and will be introduced to the crowd.

They also have a community service project in conjunction with the build called, "Stuff the Bus". Elite Built Homes are partnering with the Metro United Way and Dare to Care to fill a TARC bus at the rally with food. There will be a food drive in all the JCPS schools to collect food for the Kids Café after the build.

Help needed:

84 - Framing Carpenters (October 23 - October 26)

30 - Metal Roof Installers (October 24 - October 26)

15 - Trim Carpenters (October 25 - October 26)

Design & elements still needed:

Area Rugs, original art, Auto Body Shops, Coffee Table, Hardcover and Soft Cover, Carpenters/Cabinet/Furniture Makers,

Closet Organizing Company, Container Gardens, TV's, DVD players, etc., Embroiderers, Illustrators, Painters, Venetian Plasterers, Wallpaper Hangers and many more!

Story from Fox 41 News Louisville
http://www.fox41.com/Global/story.asp?S=13314294

October 13, 2010

Extreme Makeover planning sessions have started in Louisville

We have less than 2 weeks before the identity of the recipient family and location of the build will be revealed.

We have trade meetings scheduled all day on Tuesday October 12 and Wednesday October 13 from 8am to 6pm with all of our subcontractors and suppliers.

There is a community pep rally on Saturday October 16th @ Highview Baptist (Shelbyville Road) from 10am to noon. The pace is picking up. The excitement is building. We hope to have a full house at the pep rally as we enter the final week of preparation.

We still need a lot of framers to help us on the build.

October 5, 2010

Extreme Makeover: Home Edition is coming!

Our company is very excited to be working with the Extreme Makeover team again to help a deserving family in our community. What is so remarkable and gratifying, has been the response of all the companies as we have reached out for their help. Despite the difficult economic conditions, with very few exceptions, our requests for help have been met with a resounding "YES".

To help the family with expenses, we have a limited edition black t-shirt, available at all 5th 3rd branches, for anyone making a donation of $20 or more. Our website will be updated daily as more information becomes available and events are scheduled. We also will use it to publicize where we need additional help for the upcoming build.

Thanks Louisville for your help and support.

September 3, 2010

Welcome Home

The Overlook at Beech Spring Farm welcomes The Fenley Family!

September 2, 2010

Welcome Home

Monticello Parke welcomes The Arnold Family!

August 31, 2010

Remodeling Magazine

Elite Homes #68 on the list of the 550 nation's biggest home improvement companies by Remodeling Magazine

Full-Service Remodelers
by: Jim Cory


Full-service remodeling companies offer general contractor services in renovation projects ranging from whole-house remodels to handyman jobs such as changing out doorknobs. Many of those on this list have a long-term history in their markets, and have been able to survive the downturn in residential construction by drawing on relationships with past clients.

“We put a lot of emphasis on relationship-building,” says Jason Larson, president of Lars Construction, an $8.6 million San Diego–area company and number 16 on the full-service list. And, he says, we’re “willing to spend more time at more unusual times of the day” to persuade prospects to become customers.

Murphy Brothers Contracting, in Mamaroneck, N.Y. — number 32 on the list — has also found that these days it’s necessary to “offer [people] options,” according to director of new project development Michael Murphy. Five years ago, he says, “[remodeling contractors] were blowing people off. It was the land of milk and honey.” Now many companies have changed just about every part of their operation, except for a commitment to quality construction.



Click here for more information and to read the full article
http://www.remodeling.hw.net/remodeling/2010-remodeling-550-full-service-remodelers.aspx

July 20, 2010

Louisville Realtors sales up 26 percent in June in last boost from tax credit

Members of the Greater Louisville Association of Realtors sold 1,477 houses and condos in June -- a 26 percent increase from a year ago -- as the last wave of deals under a federal housing tax credit were completed.

It marks the 12th straight month of improving sales compared to a year earlier.
The Southern Indiana Realtors Association, a smaller group, reported 308 sales last month, up from 300 a year ago.

The "true test" of how the market is holding up will be July's sales figures to be released in about a month, said Louisville Realtors President Linda Gibson Cecil.

That's because sales closed as of July 1 are not eligible for the credit -- save a few buyers who had contracts before April 30 and are taking advantage of a last-minute extension from Congress to complete their deals.

Nationally, sales of newly constructed homes plunged 33 percent in May, the Commerce Department reported.

So far that's been the only indication of how the market is performing without the tax credit. The Commerce Department records new home sales when contracts are signed, whereas Realtors groups wait until the closing.

In Louisville, sales are up 29 percent in the first half of the year compared to 2009, and the median sales price during that time was $135,000, up from $129,900.

Cecil said she expected June sales to be boosted by the tax credit, as they have been the last few months, but "I didn't expect us to be up that much."

Reporter Chris Otts can be reached at (502) 582-4589.
The original article can be found at:
http://www.courier-journal.com/article/20100719/BUSINESS/7190357/Louisville+Realtors+sales+up+26+percent+in+June+in+last+boost+from+tax+credit

July 1, 2010

Best Cities 2010: 10 Best Cities for Education


#4: Louisville, KY
Nine of Louisville's schools have been awarded the Department of Education's blue ribbon distinction, revealing the top-notch quality of schools in this education-friendly city, which also boasts a 75% graduation rate.



Education rank: 4

High School graduation rate 2008: 75%

Blue Ribbon Schools, 2003-2009: 9

Blue Ribbon Schools per 100,000 people: 1.62

NEAYC-accredited preschools: 6

NAEYC schools per 100,000 people: 1.078

NAEP State proficiency reading, grade 8: 267

Pupil/Teacher Ratio: 15.8

Total Expenditures Per Student: $10,791


View the full article at
http://www.parenting.com/gallery/Mom/Best-Cities-2010-Best-Cities-for-Education/4/

June 7, 2010

New home tax credit extended, Kentucky residents get another year

By Chris Otts • cotts@courier-journal.com • June 6, 2010

Kentucky residents have until the end of the year, instead of July 25, to get a credit worth up to $5,000 off their state income taxes for buying a newly constructed home.

The credit was extended as part of the new state budget passed by the General Assembly on May 28.

The credit has been available since July 26, 2009, but it has been overshadowed by more generous federal housing tax credits that offered up to $8,000 for first-time buyers and $6,500 for repeat buyers.

Because the federal deals ended April 30, it was important to give Kentucky's credit more time, said Chuck Kavanaugh, the executive vice president of the Home Builders Association of Louisville, in a news release.

Kentucky originally had a $25million cap on the credits, but home buyers have claimed nowhere near that amount. As of June 1, $5.2million has been obligated, according to the state Department of Revenue's website.

With the extension, lawmakers reduced the cap to $15 million. Indiana has no such housing credit.

Home buyers who qualified for both the federal credit and Kentucky's credit likely took the federal credit because it was larger and because it gave them money back if they owed less than the amount of the credit. They couldn't claim both.

Supporters of Kentucky's credit say that besides boosting the housing market, it will create construction jobs.

Figures from April, the latest month available, show that the state has lost 17,000 construction jobs -- almost 20 percent -- since the recession began in December 2007, according to the Bureau of Labor Statistics.

Each new home creates the equivalent of three full-time jobs for a year, the home builders group says.

But critics of the credit have pointed out that only those making almost $90,000 a year can take full advantage of it. And they say those who have gotten the tax break probably would have bought a new house anyway.

Russ Lohan, who works in the Louisville office of Market Graphics, a research company that tracks new home construction, has called the credit "a waste of money."

Reporter Chris Otts can be reached at (502) 582-4589.

The original article can be found at:

March 18, 2010

Bargaining Chips

A Louisville builder shares tips on the art of negotiation.
By:
John Caulfield



WORDS TO THE WISE. Elite Homes' Joe Pusateri has found a second career advising builders how to negotiate with customers, trade partners and lenders

Credit: Elite Homes
Joe Pusateri, president of Elite Homes in Louisville, Ky., knows something about negotiating. In 2006, he helped arbitrate a five-year contract between his city’s orchestra and its musicians union, which kept the orchestra from going bankrupt.

Pusateri now spends some of his time sharing his negotiating skills with other builders. At the recent International Builders’ Show in Las Vegas, he addressed an audience desperately seeking ideas that might get their lenders to loosen their financing leash for construction, development, and acquisition; and might help turn tire-kicking shoppers into home buyers.

What builders must appreciate, Pusateri said, is that negotiating and bargaining are now “normal” elements of any transaction, whether builders are dealing with banks, subcontractors, or customers. The trick is to address each negotiation unemotionally—“when I get mad, I get stupid,” he admitted—and to keep any deal’s consummation from hinging on one intractable negotiating point.

Pusateri breaks down negotiation into three stages, 10 principles, 10 basic rules, and 19 tactics. At each point, the key to negotiation, he explained, is to understand what the other side wants, avoid making quick decisions, leave yourself some wiggle room, and deal from a position of strength, which Pusateri thinks builders can gain even in the direst of circumstances.

“Banks don’t want your property back, no matter what they tell you,” exclaimed Pusateri, who sits on the board of King Southern Bank in Louisville. He also noted that banks are under “huge pressure” not to retrieve land “because they are going to take a hit” in lost loan reserves.

But builders shouldn’t just sit back and wait for banks to act. “We have seven development loans in Louisville, and I have their renewal dates circled on my calendar so that I’m proactively approaching the bank 60 days before that date to set the climate and manage its expectations,” he told Builder in a subsequent interview. In those meetings, Pusateri typically comes armed with graphs and charts that make his case and give his lender a clearer picture of how Elite is faring against the rest of the market.

Pusateri had just put his theories to the test when he successfully negotiated a $690,000 loan for a new subdivision by convincing the bank that its investment “would give them better collateral” with finished lots. And because Elite already had buyers for the homes it would build on this land, the loan was more palatable to the bank because Pusateri could pay it down quickly.
The original article can be found at:

March 16, 2010

Forbes.com- America's Best Housing Markets

Francesca Levy, 02.19.10, 04:50 PM EST

Low foreclosures, rising home prices and affordability make these parts of the country good bets for home buyers.

Families in the market for a house are shopping at the right time: Nationally, homes are near the most affordable they've been in 18 years. In the fourth quarter of 2009 housing was 62.4% more affordable than the same time a year earlier, according to the Housing Opportunity Index, published quarterly by the National Association of Home Builders and Wells Fargo.

The best place to buy right now: Pittsburgh. For a housing market to be attractive it should have appreciating prices that show homeowners are making wise investments; 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.

In Depth: America's Best Housing Markets
Pittsburgh has all three. In the metro area, 85% of homes are affordable to those making the median family income of $62,500. At the same time, foreclosures are low: Only one home is in foreclosure for every 120 housing units--the second-best record of all the cities we ranked; and home prices are expected to increase 2.67% by the end of the year.

Yes, the city has suffered greatly since the decline of its manufacturing-dependent economy. But that slump helped its real estate market dodge the rapid run-up in prices that doomed so many markets after the housing boom.

"Manufacturing cities like Pittsburgh have suffered so much for the last two, three, four years that there’s still a population base in that region, and now those areas are sort of attractive," says James P. Gaines, research economist at the Real Estate Center at Texas A&M University. "Home prices are so low, some service-level jobs can be created, so it's not surprising perhaps that there's been a revitalization of some of those communities."

Behind the Numbers
To find the country's best housing markets, we used the Housing Opportunity Index, a metric created by the National Association of Home Builders and Wells Fargo ( WFC - news - people ) that determines affordability by measuring median home prices against median incomes. Using the 40 largest housing Metropolitan Statistical Areas that the HOI ranks, we then factored in Moody's ( MCO - news - people )Economy.com's one-year forecast for the S&P/Case-Shiller Home Price Index, a measure of sales prices in major markets, to find out where home prices were expected to rise. Finally we included the 2009 Foreclosure report from RealtyTrac, ranking cities by their percentage of foreclosures. We averaged the rankings for all these measures to arrive at an overall score.

The reason for taking all these factors into account is that alone each doesn't say much about a housing market's health. An area could be affordable because prices were dragged down by a glut of foreclosures. Similarly, a low foreclosure rate doesn't guarantee that home-buying is a good investment, as values could be flat or falling. Even looking at home-price forecasts in a vacuum won't tell you everything about a market, since some areas have dramatic price increases ahead due to severe drops back when the bubble burst.

Like Pittsburgh, Columbus, Ohio, might not jump to mind as one of the country's best cities for housing, but job-rich suburbs surround the city and 87% of middle-income families can afford a home. That combination creates significant pull for homebuyers.

Also looking strong is Louisville, Ky., a city whose low foreclosure rate--only 1.15% of homes are in foreclosure, half the national average--illuminates it as one of the cities least affected by this aspect of the dramatic housing market collapse of the past three years. Louisville had less of a market boom than coastal cities and vacation destinations, so it didn't have as far to fall.

Jobs Stability Equals Housing Stability
Strong industries have bolstered some of the cities on our list: The energy sector has kept jobs flowing into Texas oil town Houston, and that effect trickles into Dallas and Austin (which is also buoyed by technology jobs). A good job market means the housing outlook will stay strong. Houston home prices are expected to rise 1.2% by next year; it's one of only four of the markets we ranked where prices won't continue to slide, according to Moody's Economy.com.

Midwestern cities Indianapolis, Minneapolis and St. Louis make our list in spite of middling home-price forecasts because housing in these places is eminently affordable. Indianapolis has the highest HOI in the country, with decent housing accessible to 96% of families making the median income. In places like this the recession has weighed down home prices, but mortgage rates are still at historic lows, giving families a chance to get in on the ground floor.

Some markets are accessible to buyers because of a price slide now, yet still offer wise investment choices. In Minneapolis-St. Paul, which is ranked seventh in HOI, prices will continue to slide this year by three-quarters of a percent; but by 2012 they will have risen 2.82%.

Most real estate markets are struggling, some quite severely, so discussing the best ones is relative. But between the even-keeled housing climate of some Midwestern cities and the job opportunities in Texas, real estate in these areas is worth keeping an eye on.


The original article can be found at:
http://www.forbes.com/2010/02/19/best-housing-prices-personal-finance-real-estate-affordable-homes.html