Louisville Magazine

AUG 2013

Louisville Magazine is Louisville's city magazine, covering Louisville people, lifestyles, politics, sports, restaurants, entertainment and homes. Includes a monthly calendar of events.

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REAL ESTATE $78,500 PURCHASED $59,000 ASSESSED $35,000 APPRAISED $0 For What It's Worth? By Anne Marshall Photos by Nicholas Karem In west Louisville, low bank appraisals pose the latest challenge for its neighborhoods. 34 LOUISVILLE MAGAZINE 8.13 L ook at Anita McGruder's home from across the street and it seems to smile back. Te porch, with four tall, white columns like polished teeth, spans from ear to ear. Just above, two narrow windows stare out from the second story. Te outgoing 46-year-old with darkrimmed glasses, ringlet hair and youthful energy never thought she'd live right of Broadway, near the city's core, having spent much of her life in sleepier stretches to the east, mostly Shelbyville. But there was just something about this house. She adored the eat-in kitchen. Te stately shade tree in the back yard wooed her. So in 1998, McGruder purchased the home for $78,500 through REBOUND (Rebuilding Our Urban Neighborhood Dwellings), a nonproft housing development organization run through the Louisville Urban League. Since then, the living room's taken on a new buttery yellow hue, the bathroom a stop-sign red. Outside her home, though, recessional residue lines city blocks. Over the last fve years, numerous foreclosures have popped up around her

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