The Courier-Journal from Louisville, Kentucky on April 28, 2013 · Page D4
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The Courier-Journal from Louisville, Kentucky · Page D4

Louisville, Kentucky
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Sunday, April 28, 2013
Page D4
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Time: 04-26-2013 20:09 User: ccathcart PubDate: 04-28-2013 Zone: KY Edition:! Page Name: D 4 Color: Bftapfenta D4 I SUNDAY, APRIL 28, 2013 I THE COURIER-JOURNAL BUSINESS I courier-journal.combusiness 4 f fsmm 3802 Old Brownsboro Hills Road, Asking price: $242,900 as of Dec. Sale price: $235,500 on March 7 Bedrooms: 4 Bathrooms: 2 Square feet: 1,928 Cost per square foot: $122.1 5 Year built: 1966 Millennials make By Christine Dugas USA Today This year the Dow finally broke through the 14,000 barrier for the first time since October 2008, but no thanks to the risk-averse millennials. The millennial generation, which ranges in age from 18 to 34, has been raised during the stock market crash and the Great Recession. No wonder two-thirds save the cash left over from their paychecks and 18 percent of them pay off debt, according to a study by market research firm Lab42. Most of their debt is BEDTIME: More are ebuying Continued from Page D1 Craven is realizing what retailers such as Amazon, Zappos, eBay, Nasty Gal and Gilt already know. More and more consumers armed with tablets and smart-phones are making impulse buys at night and on weekends as mobile eCommerce explodes. And when we invest time online researching a product and reviewing websites, we are often enticed to spend more than we would in a store. A lot more. For example, consumers online who reviewed product information on a consumer electronics manufacturer website or emails and purchased were "more likely to spend more," Forrester Research analysts Cory Munchbach and Gina Sverdlov said in an eCommerce report April 9. The analysts said those consumers spent 23 percent more than the average consumer. Three years ago, mobile eCommerce scarcely existed. Last year was the first year smartphone use took hold in more than 50 percent of Americans. One in 10 of us uses a tablet device. This year, one in 10 online purchases will be made via a smartphone or tablet device for an expected eCommerce retail market of $262 billion, 13 percent higher than last year, according to Suchar-ita Mulpuru, an analyst at Forrester Research. That's twice the rate of mobile purchases last year, and four times the Todd E. and Ruth Derheim Monson to Cartus Financial Corp., 113 Blackburn Ave., 40206, $293,000. Ben D.Stoll to Cartus Financial Corp., 1119 Blackthorn Road, 40299, $274,900. Ellen Beebee Shelby Revocable Trust to Mililani LLC, 7302 Willow Gate Court, 40059, $249,000. John A. and Emilie Barrickto Porgue Rental Properties, 3342 Dayton Ave., 40207, $225,950. Robert C. Niemann to Niemann Children Trust, 2346 Emerson Ave., 40205, $207,940. G. Anthony and Elizabeths. Mills to Nachand Development Co., 10801 Electron Drive No. 102, 40299, $168,000. Estate of Li nda A. Seger to Loka Properties, 3126 Marlin Road, 40220, $134,000. Ausprop LLC, et al, to Stock 40241 30 515 Willow Stone Way, 40223 Asking price: $239,900 as of Jan. Sale price: $223,750 on Jan. 31 Bedrooms: 3 Bathrooms: 2 Square feet: 2,897 Cost per square foot: $77.24 Year built: 1988 from credit cards and student loans. Although they are considered responsible, it's unclear how well they will manage debt as they take on mortgages and other major loans, said Gauri Sharma, CEO of Lab42. And it's unclear how well they will invest. Now 43 percent of them describe themselves as conservative investors, according to a study released in February by management consulting firm Accenture. "They grew up seeing boom and bust cycles, and therefore are fairly skeptical about aggressive in rate for a smartphone or tablet in 2011, according to comScore, a Reston, Va., consulting firm that tracks consumer digital activity. EBay alone expects to do $20 billion in mobile eCommerce this year, according to Marsha Collier, author of "eBay for Dummies." Combining the likelihood consumers will pay more online, with the ease of using a mobile device to shop while they are tired at night or on weekends, expands their vulnerability to overspending, experts say. The most popular eCommerce categories are clothing, accessories and consumer electronics. It's as if the televised Home Shopping Network craze of a decade ago can now take place anytime, anywhere, on your mobile device, said Syble Solomon, a personal finance consultant and author of "Money Habitudes," a game that helps consumers explore how and why they spend. "If people are bored, they go online, and that keeps them busy. You just happen upon something. You get engrossed. The next thing you know, you've gotten carried away," said Solomon, who has taught personal finance courses in Louisville and is based in Wilmington, N.C. "You make a snap purchase decision online. In the store, at least you think about it while you walk to the cash register." About half of tablet users say they use them to shop retail websites, according to a report by comScore, "Mobile Future in Focus 2013." And while people use their smartphones at any time of day, tablet use takes place mostly at home and mostly after 4 p.m. This is Yards Bank & Trust Co., 1040 E. Main St., 40206, $113,400. Jeffrey Todd and Sherry Ann Jaggers to Clearview Synergy LLC, 1833 Bank St., 40203, $105,000. Ausprop LLC, et al, to Stock Yards Bank & Trust Co., 1040 E. Main St., 40206, $93,400. Estate of Norma F. Elliott to O'Danny Boy LLC, 8102 Lacevine Road, 40220, $88,000. Sherie A. Hicks, et al, to PBI Bank Inc., 2500 Eastpoint Parkway, 40223, $87,000. ACE Securities Corp. Home Equity LoanTrustto Paknopf Properties, 2007 Redleaf Drive, 40242, $83,199. Elizabeths. Dahl to Home Rehab Associates LLC, 308 Chanel Court No. 14, 40218, $49,000. Federal Home Loan Mortgage Corp. to 3870 Darlene Drive Land Trust, 3870 Darlene Drive, 40216, n-J wary investors vestments," said Alex Pi-gliucci, global manager director of Accenture Wealth and Asset Management Services. If they continue to shy away from well-diversified retirement investments, they are ignoring one of their advantages time. They have decades before they will retire and can tolerate volatility. However, "they are scared of the market and understandably so," said Alan Moore, 25, founder of Serenity Financial Consulting. "Many have seen their parents lose 50 percent of their retirement savings in six months." when the spending happy hour can start. Invitations to buy often arrive in your email in-box, the first "touch" on what consultants dub the online "path to purchase." Gilt, an online luxury retailer with a huge distribution center off Interstate 65 in Shepherdsville, targets nighttime mobile browsers with flash sales beginning at 9 p.m. on Wednesdays and Sundays. Mobile shopping is one-third of Gilt sales, resulting in the launch of a new Gilt iPad app last holiday shopping season. Lunchtime is also a time when sales and traffic spike, but research shows consumers spend more time and spend more per purchase at night and on weekends, she said. "We see not only nighttime is popular with our members, we see an increase on mobileiPad devices on weekends as well," Gilt spokeswoman Cherie Gallarello said. "We also know our members make large purchases online such as a Rolex watch" $24,000 "and a Volkswagen Jet-ta." As retailers track online trends, you'll see more shopping discounts and invitations hit your in-box in the evenings. That's how Middletown Salon de Beaute owner Denise Kill said she found herself buying melon-scented candles recently at Bath & Body Works. After a long day at the salon, she settled on the couch to relax with her nighttime habit of browsing email and surfing online. She found a coupon for Bath & Body Works in her inbox, and went to the site to start shopping. Kill said she bought two candles, one for herself and one for her daughter. UPS' Worldport ship $47,000. Secretary of Housing and Urban Development to FTH Investments, 2920 Garey Lane, 40216, $34,905. Fannie Mae to Access Ventures LLC, 1004 S. Shelby St., 40203, $29,000. Secretary of Housing and Urban Development to Purvis Professional Cleaning Service Inc., 657 Southwestern Parkway, 40211, $27,500. Ausprop LLC, et al, to Stock Yards Bank & Trust Co., 1040 E. Main St., 40206, $14,700. Secretary of Housing and Urban Development to Peer Innovations, 2139 W.Hill St., 40210, $13,500. Ausprop LLC, et al, to Stock Yards Bank & Trust Co., 1040 E. Main St., 40206, $6,700. PBI Bank Inc., Euro Tech Inc., 4012 Dupont Circle No. 406, 40207, $2,825. 1933 Richmond Drive, 40205 Asking price: $259,000 as of Jan. 6 Sale price: $247,000 on Jan. 31 Bedrooms: 2 Bathrooms: 2 Square feet: 1,563 Cost per square foot: $1 58.03 Year built: 1925 NOT A HOT TOPIC Retirement savings do not create much top-of-mind awareness among those ages 18 to 34. "With millennials that I talk to, retirement is so far off that it doesn't seem to be something that needs to be talked about now," said Jinnie Regli, a millennial who is a client service administrator at Milliman, a consulting and actuarial firm. In fact, many of them, 41 percent, say vacations and travel are the most important reasons for saving money, according to recent report by LIMRA, an industry-sponsored research group. ping hub makes the Louisville area attractive to eCommerce retailers including Amazon, Zappos, Nasty Gal, Gilt, Cafe Press and Geek Squad, said Carmen Hickerson, spokeswoman for Greater Louisville Inc. Of 620,000 jobs in the region, jobs affected by eCommerce include 20,000 at UPS and another 13,000 at major distribution hubs in Bullitt County, Louisville and Southern Indiana. Representatives of Nasty Gal and Amazon, the second-largest e-retailer after eBay, did not return phone calls seeking comment. Ted Smith, director of economic development for Louisville Metro government, said he shops with his tablet. On a recent Saturday at 4 p.m., Smith said, he went online during a spare moment via his iPad to spend $7.59 at Amazon for "City of Ember," a science fiction novel for his 10-year-old son. All of us are vulnerable to the temptation posed by retailers pushing goods to the smartphones and tablets with us nearly every hour, Collier said. "If you're reading your fashion magazine online, you see a brand, you click through," she said. "We have a worldwide marketplace. Mobile shopping is crazy. It's just going nuts." Jere Downs can be reached at (502) 582-4669, Jeredowns on Twitter and Jere Downs on Facebook. Nowthrough Saturday, Pick-up tomorrow's Courier-Journal and receive one often collectible newsprint posters of a Kentucky Derby past champion! foe (mirir-Srtmtal A GANNETT COMPANY SINGLETARY: Web fraud Continued from Page D1 would warn most people. But such a correspondence has worked, with the person, usually operating overseas, successfully soliciting money. Who falls for such schemes? Well, lots of people, millions in fact. According to a Federal Trade Commission survey conducted in late 2011 and early 2012, an estimated 25.6 million American adults, or nearly 11 percent, have been fraud victims. Where do people get duped the most? Not surprisingly, the Internet. Specifically, email, social media, Internet auction sites and Internet classified advertising. "The Internet was the most common way victims first learned about offers that turned out to be fraudulent," according to the FTC report. People placed orders using the Internet in almost 40 percent of the fraud cases in 2011, up from 20 percent reported in the agency's 2005 survey. The most frequent frauds involved weight-loss products, prize promotions, work-at-home programs and falsely billed buyer-club memberships or Internet services. You may smugly think you couldn't be conned, but the FTC found that there are circumstances and personal characteristics that make people more susceptible. Who are these victims? Risk-takers. The FTC says it used two measures to examine the relationship between risk taking and the likelihood of becoming a fraud victim. The agency looked at the self-reported willingness of survey participants to take risks. The FTC also examined consumers who had engaged in risky purchasing practices such as buying a product after LOW May 4st - One poster per day lifjifjifK mf Secretariat - 19P3 Derby Winner getting an unsolicited email from an unknown company. Those who reported a high willingness for risk-taking were three times as likely to have been victims of fraudulent prize promotions. Those who met the definition of risky purchasing practices were almost four times as likely to have been victims of fake prize promotions. Grieving people. Folks who had recently experienced a bad life event a divorce, death of a family member or close friend, serious injury or illness in their family, or job loss were much more likely to victimized. If someone had experienced a disruption in the previous two years, they were more than 2Vi times as likely to have been a fraud victim. This is why experts recommend that you don't make major financial decisions too soon after a death or other calamity. Your judgment could be impaired. Debtors. This makes sense. Many of the cons go after people in debt because they want to escape their financial troubles. And their anxiousness is just what the con artists count on. If you are desperate, you're more likely to want a quick solution. In fact, "victimization rates were lower among those who self-reported themselves as more patient," the report said. The FTC says it examinations of how people are deceived helps the agency's enforcement and education efforts. Check out the FTC's "10 Ways to Avoid Fraud" at or call (877) 382-4357 to order by mail. But the agency can only do so much. So just be careful out there. Readers can write to Michelle Singletary co The Washington Post, 1150 15th St., N.W., Washington, D.C. 20011. Her email address is singletary Follow her on Twitter (SingletaryM) or Facebook (www.face-book.comMichelleSingle-tary). (c) 2013, Washington Post Writers Group FORD SERVICE LY0UR NEEDS! ISUZU SERVICE I in The Courier-Journal Presented by: UNIVERSITY OF LOUISVILLE COLLEGE OF BUSINESS Equine Industry Program CJ-0000354115

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