Louisville Kentucky Real Estate

The Greater Louisville Association of Realtors has recently come out with some intriguing numbers.  The amount of homes for sale in Louisville Kentucky that are priced at $50,000 or less is up 14% from a year ago in 2006.

These prices are appealing for investors looking to either buy and hold, or repair and flip the cheaper properties as they have a greater margin for profit per dollar invested in the project.

This has met with mixed reviews and opinions from many neighbors that live in those areas.  Some have raised concerns that if the homes become rentals, that the occupants may not take care of the property in the same manner that a traditional homeowner may be inclined to do.

Others have felt that while rentals may not be the most desirable neighbor, at least the homes are getting repaired and fixed up and thats always good for a neighborhood’s property values.

For quite some time, many investors have put things on a fire sale so to speak - just to try and get some liquidity back to help cover costs or even losses that they may have received in other markets.  This led to a somewhat softening for the local Louisville real estate investor market - and an over abundance of investment properties and real estate for sale in Louisville increasing its overall inventory for that particular property profile.

And as with all things, supply and demand rules.  When theres an oversupply that far exceeds and outstrips the demand, this leads to a decline in prices for that particular commodity.

But, it appears that investors are now starting to get back into things at least somewhat cautiously, and purchasing some of the cheaper properties that are currently available on the market.

This entry was posted on Sunday, December 23rd, 2007 at 1:24 pm and is filed under Jefferson County, Louisville Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.