Real Estate News for Louisville Kentucky

Optimism in New Construction Inches Upward, Louisville Neighborhoods

The National Association of Home Builders charts its members’ outlook towards business in the future. This index is something they use to make decisions on behalf of their membership. News out this month that this index has moved up for the first time in five months.

Home Buying Process spelled out for this family
Optimism in new construction is starting to move higher.
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U-Haul Names Kentucky Top Growth State

U-Haul Truck

I admit I’m late to the party but just now, I read that Kentucky topped the U-Haul yearly survey as the state with the greatest growth rate. Amazing!

U-Haul International, Inc. today released the results of the annual U-Haul National Migration Trend Report, reflecting the nation’s top growth states for families who moved during 2009. The report, titled “2009 Top 10 U.S. Growth States,” indicates that for states with more than 20,000 families moving, Kentucky had the highest percentage of growth, with 5.76 percent more families moving into the state than out. For states with 5,000 – 20,000 families moving, Vermont had the highest percentage, with a growth rate of 16.67 percent in 2009, moving Maine to second place after two years of ranking first.

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Real Estate Investors Like Louisville

The Wall St. Journal had a piece earlier this week called 10 Best and Worst Markets for Real Estate Investors. It cites a Local Market Monitor, Inc. that looks to utilize “equilibrium” home prices. These take into consideration what home values should probably be in relation to population, job growth, income, and other factors.

Photo of a Louisville home
Certain homes are better suited to rental properties than others but real estate investors can find a lot to like about Louisville. | Photo: Tre Pryor
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Louisville 9th Least Expensive Cities Says Kiplinger

Kiplinger and Forbes have been singing our city’s praises lately. Recently Forbes ranked Louisville 37th in Nation for Housing Recovery. Then Kiplinger named Louisville the regional winner for home price stability. Then, to top it off, Forbes claims Louisville real estate is the 4th most affordable in the nation.

Photo of Louisville, Most Affordable Cities
Louisville, KY keeps raking up national real estate accolades.
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Low Mortgage Rates in the News

Just days after I posted Mortgage Rates Lowest in 40 Years we see a national story touching the same topic with Mortgage rates remaining at the lowest level in decades. (Think the AP is shadowing me?)

Just how low can you go?

The last time home loan rates were lower was the 1950s, when most mortgages lasted just 20 or 25 years.

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Mortgage Rates Lowest in 40 Years

As in life, there’s good news and there’s bad news. Looking at our Louisville real estate home values and number of sales, we see that 2010 is a big improvement over 2009. That’s good news! But 2009 wasn’t a very good year, to begin with. That’s bad news. But now mortgage rates are at their lowest levels in 40 years.

Chart: Mortgage Interest Rates for the Past 36 Years
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