Kentucky market is experiencing an uneven recovery: metropolitan areas noted growth in most areas, while more rural areas continues to struggle with foreclosures and property. The proximity of these rural areas to the more expensive real estate capital needs time to push the market on a larger scale, but this time lower values represent less centralized housing for buyers of foreclosures and real estate in Kentucky.
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What is happening in Kentucky, redemption and property
Despite the fact that sales prices and spisovyya prices gradually grow, the market in Kentucky remains fragile due to low on the & # 39; sales. However, in Louisville, which is sometimes regarded as a barometer of health in the broader market of real estate in Kentucky, the most desirable neighborhoods in recent months demonstrate the average price increase in average prices. Similar trends were observed in the neighboring Lexington, where a & # 39; sales volume remains low, due to parts inventory concluded uncomfortable sellers.
Where to look for foreclosure and real estate in Kentucky: Lexington
The Association of Realtors of Lexington Bluegrass reported a total of & # 39; sales of residential real estate in Lexington $ 174.3 million in May 2012, and for the year compared to the year increased the number of single houses in Lexington, which are sold at 26%. Sales of condominiums and townhouses are also increased by 22%, although these properties are a very small part of the Lexington Market in May, only 55 sales.
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Average sales price also increased from 145 thousand to 149 thousand dollars for the period. Lexington redemption and the real estate market may be a turning point, as inventories fell to about 6 months; inventory less than six months may indicate that the seller on the market.
In Lexington, live two major universities, Transylvania University and Kentucky, as well as many smaller colleges and universities. Lease community that has grown around these schools – an intriguing investment opportunity, especially where in the city center have become issues that are at the heart of the city. Away from the investors in the heart of the city more likely to find a home for single houses and the occasional luxury of & # 39; on the sale price of the objects.
Where to look for foreclosure and real estate in Kentucky: Louisville
The average price of homes in the Louisville area has decreased by 2% for the year, down from $ 138,000 in April 2012 to $ 135,000 in April 2013. This makes it one of Louisville’s most affordable cities for foreclosures and real estate Kentucky.
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The average selling price of the lowest in the county Bullitt, when the average price in May 2013 was 125 500, which is 4.2% decreased compared to May 2012, when the average selling price was 131 000 dollars. Located just south of Louisville, Bullitt County and the surrounding areas, there are some pockets of increased foreclosure activity, including Mount Washington, and Sheferdsvil. Within easy distance of up to Louisville, these areas may be attractive places to find investors with redemption in Kentucky.
Redemption in Louisville area perform the gamut from luxury properties of simple bungalows and duplex trypleksnyh or designs that require small updates before conversion or resale. Due to the more rural areas, where you can find these on the & # 39; sites, prices are often well below the national. Secondary markets such as Louisville and Lexington, are currently undervalued by investors in real estate, which can lead to real opportunities in the near future for those who are looking for less competitive market, in which you can invest.