For those wondering what its all about:  think St. James Court Art Fair with an Oldham County KY flair.

Some of the highlights of the event include picture opportunities with Santa Claus, crafts for children, and a host of winter time treats will be available such as chili, cider & baked goods.

There is still some room for artists and artisans to participate – so if you want to be a part of this great event, you better get your application in ASAP.  Call (502) 442-3173 for more information.  But, better hurry if you have interest, space is limited and is filling up quickly.

For those that are planning on attending – we’re confident you’ll have a wonderful time.  This event will have a lot of unique crafts and gifts just perfect for many friends and family for the upcoming holiday season.  And even if you don’t plan on making any purchases, come on out anyway.  Its going to be a wonderful opportunity for you to spend some time sharing it with friends and neighbors in your local Oldham County community – so you really should make an extra effort to attend and make this event a success!

2009 North Oldham High School Tis The Season Artisan & Spirit Fest is a post from: Louisville Kentucky Real Estate

From an “on the ground” perspective, we’ve begun noticing an increase in activity right now.  There are fewer persons looking, but the ones that are – are generally serious.  [So, if you have someone wanting to schedule a showing to get in to see your home - its probably in your best interest to try to accommodate them to get in to see it.]  Additionally to the homes that are being sold, many Louisville home sellers are tiring of their home being for sale on the market, and pulling their listing.  The sales, combined with the withdrawls (or cancellations), is reducing the overall inventory on the market.  This should give buyers less to pick from and not suffer quite as much from choice overload – all of which should help strengthen the Louisville real estate market.

We anticipate a stronger real estate market here in Louisville in 2009, than we saw in 2008.  Our job market remains relatively strong, and our home prices didn’t grow, generally speaking, at unsustainable rates like it did in the markets that have been hardest hit – as such, we should be among the first in the country to experience a rebound.  We think we are getting close to the “bottoming out” that everyone is always looking for – and if you are wanting to get into a new home, the next month or two are probably your golden opportunity to get in at the lower end of the market.

Louisville House Prices Decline 5% is a post from: Louisville Kentucky Real Estate

Never thought you could afford a Kentucky horse farm of your own?  Now you may be able to!

Located conveniently immediately northeast of Louisville in LaGrange Kentucky, you will find a lovely nearly 7.5 acre Oldham County horse farm for sale that comes with a 1500 sq.ft. home, barn, RAMM fencing, multiple pastures – and more!  All for the cheap price of $200,000.  This Oldham County KY farm is priced to sell!

Features of this property include:

1500 sq.ft. home

3 Bedrooms

2 Baths

7.47 acres that is Horse Ready!  Barn, RAMM fencing, stalls, etc.

Minutes from downtown LaGrange KY.  And convenient location for shopping, and restaurants!

All of this for $200,000!  This will not last long!

Louisville MLS ID: 1222503

Address:  1425 Dawkins Road

Marketed by REMAX Properties East.

If you’d like to get in to see this fabulous property (or have additional questions) – please select CONTACT JENNIFER.

Oldham County Horse Farm For Sale – CHEAP! is a post from: Louisville Kentucky Real Estate

Before we get into the August 2008 numbers, I wanted to recap all of the numbers for this year.  So, lets take a look at the data and see what we can make of it:

January 1 – August 31 2007

Homes Sold 10513

Average Sales Price $174,428

Median Sales Price $140,000

January 1 – August 31 2008

Homes Sold 8021

Average Sales Price $170,711

Median Sales Price $137,000

So, as you can see – theres been a fairly stiff decrease in the number of the Homes Sold in Louisville this year of nearly 24%.  Interestingly enough though, theres only been a slightly over 2% decrease in the Average Sales Price, and Median Sales Price.

This would indicate that while the total number of homes that are selling has dropped – the prices for which they are selling haven’t been affected too much overall.

So, now lets take a closer look at the August numbers.

August 2007

Homes Sold 1521

Average Selling Price $179,715

Median Selling Price $141,750

Average Days on Market (DOM) 74

August 2008

Homes Sold 965

Average Selling Price $181,472

Median Selling Price $140,000

Average Days on Market (DOM) 90

The total number of sales is down significantly (965 vs. 1521, which equates to an almost 37% decrease in the number of sales) .  And the average days on market has increased from 2.5 months to approximately 3 months.  But, probably more interesting is that the average selling price actually went up.  This would indicate that the higher end properties ($1,000,000+) while being fewer in number for the overall sales, are actually increasing the overall average value for Louisville homes sold.

So, what does this mean for a person looking to buy or sell Louisville real estate?  It means that homes are selling, albeit at a slower rate than in the past – BUT it does not mean they are selling for substantially less than they were previously.  (Sorry to those out there looking for a slam dunk deal in buying a Louisville home for 20 or 30 cents on the dollar.  It just isn’t commonplace here at this point in time.)

For Buyers: Theres lots of inventory to select from.  Currently there are over 10,000 homes for sale in the Louisville market.  There are homes that represent a good value out there.  You just have to dig through them and find the one you want.  But – don’t expect to steal it.  Prices are holding fairly firm for those houses that are selling.

For Sellers:  Lots of inventory (read: competition) and longer market times are the norm.  If you want to get your home sold, you need to price it appropriately AND be the nicest within whatever price point you are currently competing.  No matter the price range, you will want to be at the lower end of that price range to get your home sold.

August 2008: Louisville Real Estate Market Softens is a post from: Louisville Kentucky Real Estate

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.

Housing Bailout Possible is a post from: Louisville Kentucky Real Estate

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.

Louisville Foreclosure Rate Declines is a post from: Louisville Kentucky Real Estate

For those persons wanting to view new properties currently on the market, please visit this page of our site:

Louisville New Homes For Sale

Its spring – and that means that the Louisville new homes celebration is going to be underway this weekend May 10-11, and next weekend May 17-18, 2008.  Over 150 Louisville new homes (single family & patio homes) are going to be featured from the metropolitan Louisville real estate market.  According to The Sentinel News, some of the developments that are participating in this year’s tour include:

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!

Louisville New Homes is a post from: Louisville Kentucky Real Estate

There remains a tremendous amount of inventory on the market currently. For the metropolitan Louisville real estate market, inventory is currently sitting at approximately 9-10 months. (What that means is, if no new homes came on the market, the properties currently on the market, and demand for purchasing a Louisville home remained steady, those homes would expect to sell in approximately 9-10 months.)

Some areas within the metropolitan Louisville real estate market have dramatically much higher inventory. One example, would be the Shelbyville KY homes for sale currently on the market. At the current rate of demand, there is almost 2 years worth of inventory. [Which incidentally - is primarily due to inflated pricing for Shelbyville KY real estate. The homes that are priced appropriately are moving, but a tremendous amount of properties in Shelby County are, to be blunt, delusional (or ignorant) in their pricing valuations for today's market conditions and demand for homes in Shelby County KY. These elevated prices have many homes just sitting on the market........waiting.....and waiting.....and waiting.] Additional pressures and concerns for rising fuel prices also are making many persons wanting to live closer to their work and the larger metropolitan areas, rather than further away in the country.

As expected though for the Louisville real estate market – it continues to show its resiliency relative to the national overall perspective, the median price for homes in the metropolitan area were actually up from a year ago.

From our own perspective, it appears the most active markets are the 2 extremes: Those properties under $150,000, and those properties in the $1.2 – $2 million range seem to be the most in demand presently. Many homes in the several hundred thousand range, are seeing little activity with most persons seemingly waiting for what they perceive to be the “bottom” of the real estate market. [Here's a hint everyone: prices were UP, not down - for January & February 2008, despite the excess inventory. That would indicate that you've already missed the bottom end of the Louisville KY real estate market - and you should be pulling the trigger now.]

New Louisville Homes Starts Decline is a post from: Louisville Kentucky Real Estate

This approval was done unanimously by the Oldham County Board of Education – and over some protests and disagreements from various parents of children that are attending the schools within the county. Parents criticized that they were not given an adequate voice for the process and that they went more or less unheard for input on the proposal.

The school officials held their ground that they had adequate input from parents, and that revisions that were made reflected the concerns of most parents of children within the school system – and that these redistricting changes were needed to help deal with the overcrowding problems of the 11,000 students within the school system for Oldham County. Oldham County Kentucky continues to increase student enrollment by approximately 500 students a year presently. And 50% of the county’s elementary schools are currently beyond maximum capacity for the size of their buildings.

This approval marks the 3rd time in 5 years that the continued and long lasting growth of Oldham County KY homes, population and enrollment has forced a redistricting effort to be implemented.

Part of the feeling of concern may stem from 3 subdivisions being made an exemption for 3 subdivisions as part of the proposal. Those 3 subdivisions that were granted exemptions were: Arbor Ridge, Camden Manor and Shelbourn Oaks in Crestwood Kentucky.

Parents main concerns stemmed from having their children moved further away from their homes to attend school.

This is rather an ironic situation where the notoriety that the Oldham County Kentucky schools have received and various awards – have stimulated a tremendous of persons wanting to sell their Louisville homes, and move to purchase real estate in Oldham County. This has caused a tidal wave of persons to move into the area.

Beyond redistricting, there continues to be plans for new schools to be constructed. One school that is under construction is Locust Grove by LaGrange KY. This school is planned to be open for students this fall for the coming school year, and will accommodate approximately 580 students for its currently proposed design and size.

Additionally, existing schools are being enlarged and improved to handle some of the students. Crestwood Elementary will have a larger building within a year that should help share some of the overcrowding problems.

Many persons want the noted and award winning education that the Oldham County schools provide for their children. But the pressure placed on the system to accommodate everyone is quite difficult.

Over the past 10 years, 6 schools have been built – which hasn’t been sufficient. 2 more schools are scheduled to be constructed within the next 5 years. Of the Oldham County high schools 3 main campuses, 2 of the schools are currently being renovated to increase the size of their facilities.

Unfortunately for the residents of Oldham County, don’t expect this to be the last redistricting. As new schools continue to be built, and opened – you can bet that redistricting will occur to spread students out into the new facilities.

But, its not all sour apples. As an upside – if you have to have “problems” – having a school system that is so desirable that people flock to the area in droves so that their children can be placed within the schools is one of the nicer ones to have to deal with.

Oldham County Kentucky Schools Redistricting Approved is a post from: Louisville Kentucky Real Estate

For reference, voting is tonight Monday February 25, 2008 at 6:00 pm EST at the Oldham County Middle School located at 4305 Brown Boulevard, in Buckner Kentucky.

The school redistricting discussion has been something that has been heavily discussed by everyone for the past month.

The proposal as currently presented would potentially affect and relocate 1,000 elementary students to new schools for the next school year.  As with everything, there are exceptions:  3 neighborhoods will be able to remain at the current school  (they were granted exemptions after families protested from those locales).

The entire redistricting plan is aimed at primarily easing the overcrowding problem.  Oldham County KY real estate has grown briskly over the past few years as pressures from growth in Louisville pushed toward the northeast.  Over the past 10 years, student enrollment has increased an average of 500 students per year, and the current schools are incapable of handling that sustained growth.  If you look at the entire Oldham County Kentucky 10 elementary schools, 5 of them are over capacity.  And that is even with the tremendous amount of new construction that has been going on for the area.  They’ve added 6 new schools over the past 10 years, and 2 more schools are scheduled to be constructed within the next 5 years.  Additionally, Locust Grove Elementary school is slated to open at La Grange KY in the Fall of 2008, and has capacity for 580 students.  Crestwood Elementary is on schedule to be replaced by a larger facility the following winter.

Part of the concerns is that this is the 3rd school redistricting that has been done within the past 5 years.

Some parents have felt that the Oldham County School Board has acted hastily without allowing adequate voicing of concerns & suggestions from those that would be most affected.

The school board chairperson, Joyce Fletcher, stated that she has attempted to communicate with all inquiries from everyone that wrote in letters, or called in to her office.  And that the modifications to the plans for redistricting the schools, were made after taking into consideration of the concerned parties that voiced their opinions.

Hopefully everyone can understand and come to terms with the results of the voting this evening.  Its certain that not everyone will be happy, but hopefully they can feel that pressure that the Oldham County KY Board of Education is feeling from the huge amount of sustained growth that they’ve been experiencing in La Grange, etc.

Ironically, one of the reasons for the tremendous growth, has been the Oldham County schools.  Their award winning record is quite well known in this area, and it further exacerbates the growth quandry that everyone has been dealing with.  Success breeds success & growth.  And people want their children to be a part of the Oldham County school system – so they end up selling their homes in Louisville, and purchasing Oldham County Kentucky real estate and setting up shop there so to speak, and commuting for work back into Louisville.

Good luck to everyone.  Hopefully you will see the results that you would like this evening at the vote!

Oldham County Kentucky School District Vote is a post from: Louisville Kentucky Real Estate