Some of the exceptions to that broad picture, to cite an example, would be Anchorage KY.  Anchorage real estate showed a fairly strong growth from 2007 to 2008, with an average increase of 3.5% appreciation.  Oldham County KY real estate fairy even better, with an average increase from 2007 to 2008 of 4.6% appreciation.  Ok. Ok.  So they don’t compare to some of the “Flip My Home” shows you see on TV.  But you have to remember the Louisville KY real estate market is fairly conservative overall - and those values, especially in today’s real estate market and economy do represent good and strong growth for our area.

Some areas that are exceptions in the other direction for the Louisville homes market, would include Downtown Louisville homes, Old Louisville, West Louisville, and Shively.  Those areas saw extremely strong depreciation from 2007 to 2008 of -22%.  That much of a drop is worrysome to most persons as it would take years of our historical rate of appreciation to regain what they lost in value in just the 1 year timespan.

There is however some brighter news on the horizon.  The new federal housing bill was recently passed, and as part of the $4 billion package, it includes monies allocated to fix up areas designated as blighted and those that have lots of vacant property.  Additionally, there is up to a $7500 tax credit available for first time home buyers.  The $7500 essentially acts as an interest free loan.  The loan has to be repaid (sorry folks!) over the course of 15 years by making annual payments (unless you sell your home prior to the 15 year maturity), but it is interest free - and even if you have to pay it back, the use of that money can be a real boon to persons looking to make their first home purchase.  And as with almost any government program, there is a lot of what ifs that follow along with it.  Consult with your accountant to find out all the ins-and-outs regarding the program after you make your home purchase and are getting ready to file your taxes.

Overall, Kentucky ranks 39th for foreclosures (lower is better).  And if you compare the figures for June 2008, to the previous year in 2007, we’re down 9.2% relative to last year - while the national percentage is up 53.3%.

Beyond percentages and looking at just a straight numbers perspective, Kentucky had 731 new home foreclosure filings in June which is roughly 1 out of every 2583 homes.  So, Kentucky is still doing quite well especially relative to many other parts of the United States.

The cost of admission is free.

Some of the features include numerous giveaways one of which is the possibility of winning a big screen television and others include free closing costs.  Various vendors will be there which include Realtors, insurance representatives, homes builders, homes repair businesses, mortgage lenders and more.

Some of the main hosts for the event includes Citizens Union Bank (CUB), Kentucky Housing Corporation (KHC), as well as HJW Career and Financial Literacy Institute.

If you own a home, or want to own a home, be sure to come out this weekend at the Shelby County Fairgrounds, and take a look at what some of the local persons have to offer regarding the Shelbyville KY real estate market.

The discussion for the proposed legislation hopes to regain momentum after the legislators get back from a week long break.

President Bush went on to state that he felt that the American economy would be fine in the long haul, and that its really just now that it is slumping somewhat. Perhaps a somewhat rosy outlook, but probably a fairly accurate one. The American economy has traditionally been a catalyst for more than just itself - so its in other countries best interests to help ensure that the economy and relatively speaking, soft (at least on a national level), real estate market.

The livability awards are judged by numerous urban government specialists - which includes among others, mayors & ex-mayors to evaluate the criteria which includes how much a city has improved its quality of life for its community.

One of the key components for Louisville’s win was the Healthy Hometown Movement which began in September 2004.  It stresses a variety of things which include physical activities such as bicycling, nutrition, and an overall healthy lifestyle.

There were over 200 applicants for the competition.  Congratulations to Louisville Kentucky - most livable large city in the United States!

To delve more into the numbers, Kentucky had 745 filings during that time frame which accounts for 1 out of 2534 homes in KY. And if you compare those numbers to a different time frame, like the year previously for May 2007, the rate of foreclosures was only an increase of 2.2%.

Kentucky ranked well, particularly if you examine some of its nearby neighbors. Ohio ranked #9. Illinois ranked #11. With Indiana right behind them at #12. Tennessee was #14. Virginia was #15.

The only immediate neighbor doing better was actually West Virginia, who ranked #49.

So, while the numbers can be a big shocker to see headlines of a 46.1% increase in foreclosures. Its really somewhat relative to the overall picture. Kentucky is a relatively stable real estate market overall. And it is certainly fairing better than most of the rest of the country.

There is the understanding that the actual concept for a downtown Simpsonville KY may take up to 20 or even 40 years, but they are wanting to make plans now for the future that is coming this way. Some work preparing the way has already been started: Simpsonville requested money from the Kentucky state government to fund sidewalks along the US 60 corridor that goes through the city.

There is a push for community and citizen input on the proposal as well as potential grandfathering of existing businesses that may not comply with the potential future plans for the area and their ordinance changes that may occur that would place them in potential violation. At this point, most of the citizens appear to be behind the idea of getting ideas and plans in place for the future. Simpsonville KY gets a big thumbs up for thinking and planning ahead. Too many times, cities can grow before they really even know it - and then the infrastructure for those homes and businesses are insufficient to meet the needs of the rapid growth that they enjoyed in the first place. Getting things in place now before the demand from Louisville eastward stimulates high density real estate development is an excellent idea.

Admission to the Shelby county fair is free for children 10 and under. To all others, admission is $6. The main entrance is located on US60 at the horse statue (no tractors or livestock will be allowed through that entrance).

The Horse shows will begin at 7:00 pm each day beginning Wednesday. [For those that are unaware, Shelbyville Kentucky is The Saddle Horse Capital of the World.] For those interested in more information for the horse shows, please contact R.H. Bennet at (502) 664-0870, or Beth Snider (502) 647-0076. Ticket prices range from $20 to $40 for admission of the horse show events.

And if you compare those numbers to the national average that has experienced a 65% INCREASE in foreclosures, you can see clearly that the Louisville real estate market is definitely bucking the trend.

To get into specifics:  288 foreclosure filings were made in the metropolitan Louisville homes market for April 2008.  This equates to approximately 1 in every 1874 homes in the area.  Nationally, there was approximately 1 foreclosure filing made for every 519 homes.

And even on a larger perspective of the entire state of Kentucky, Kentucky ranks 43rd for foreclosure rates with 1 in every 3710 homes making a foreclosure filing.  Our nearby neighbor Indiana, was ranked 11th with 1 in every 544 homes filing.

Again, the “bad” real estate markets continue to fair poorly:  Out of the top 10 highest foreclosure rates in the entire country for metropolitan areas, 9 of the 10 were in Florida and California.

The overall real estate market softening that Louisville has experienced has been slight - and its not been primarily from a market correction as much as it is due to a build up with inventory and a softening of the national economy overall.  Basically, a lot of the problems (which aren’t many) that Louisville may be having is primarily due to everyone else muddying things up - and not really from what we’ve been doing on our own accord.

The Louisville homes market should continue to strengthen despite a softening economy nationally, provided no major changes occur that would have a negative impact, and housing inventory remains constant or declines.

Norton Commons

Locust Creek

Beech Spring Farm

Rock Springs

Saratoga Springs

Longwood

Heather Green

Sycamore Run

Summerfield by the Lake

Notting Hill

Ballard Woods

Flatrock Ridge

Williamsgate

Cedar Glen

Waterstone

Chatham Park at Polo Fields

Nachand Springs

Landis Lakes

Cardinal Oaks

The Villas at Pinnacle Place

The new Louisville homes will be open during the hours of 1:00 - 5:00 pm May 10-11, and May 17-18, 2008.  Louisville real estate agents, as well as builders will be available to answer questions.

Price ranges for the Louisville homes participating in the showcase range in value from $130,000 all the way to $1.1 million.

So, be sure and come out this weekend or the next and check out whats available in the new Louisville homes market today!