About Louisville's Douglass Hills

DOUGLASS HILLS is a very popular and highly desired neighborhood in Louisville, KY. At one time it was farmland from 1813 until the 1970s, and was purchased by James J. Douglas in 1896. Douglas passed in 1917 and the land wasnt incorporated until 1973 when the farmland was turned into subdivisions that have flourished into what see see and love today!

Amenities & Features:

• Warren Walker Park and Running Creek Park offer residents a fun way to enjoy hours of relaxation. 
• The swimming pool offers hours of enjoyment and the opportunity to meet with friends and neighbors. 
• Tennis courts are available on a first come, first serve basis.
• A great walking track around Warren Walker Park can be used year round.
• The Faye Tanner Gazebo is available for family get together and can be rented for weddings or other events

School Info

Douglass Hills features top-notch schools within and around the community from elementary education all the way up to the high school level.
Some great schools include:

• Hite Elementary
• Middletown Elementary
• Crosby Middle School
• Eastern High School

Neighborhood Make-up

• 2,400+ households
• 5,700+ people in the community
• Majority of population was ages 25-64 and 18 & under
• Median income for a household in the city was $60,021, and the median income for a family was $73,670

Real Estate For Sale

Douglass Hills provides attractive & comfortable housing that ranges primarily from the $200k - $400k price range. Properties in the area have done very well at maintaining their values especially through these tough economic times. You will love the style & affordability of the homes in this area that really give you the "Bang for your Buck" all while providing you with outstanding location within the city of Louisville.

**View Homes for Sale in Douglass Hills on the Louisville MLS below**
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Lenders push houses to foreclosure by demanding short sale offers to be 10% to 30% higher than market value.

It’s a mystery.

We can send the lender the electronic log from the lockbox to prove that 20 or 30 agents showed the house and that we got the highest offer the market will pay.

We can send them comparable sales showing market value. We can show the banks the long days on market and all the comparable listings that never sold.

Somehow the lender overrides reality.

Foreclosures Cause Values To Spiral Down. Short Sales Reduce The Lender's Losses.

• The lender dooms the house to foreclosure rather than accepting a logical short sale. That causes more blight in the neighborhood, which brings values further down, which causes more future foreclosures.
• Many articles and studies have been published that lenders lose much more in a foreclosure than in a short sale. Foreclosure resale prices further bring down the prices in the neighborhood, causing more future foreclosures.
• A foreclosure also means that the hardworking borrowers who lost their house will be shut out of the buyer pool for many years longer than if they completed the short sale. The banks are diminishing the future buyer pool, which will prolong the foreclosure crisis by many years.
• Yes, the banks lose money when they approve a short sale, but they lose much more in a full foreclosure. This can be shown time after time.

Does Any One Know Why The Banks Prefer Foreclosures Over Short Sales?

Are the lenders dooming houses to foreclosure out of corporate inefficiency or is it a deliberate strategy?

Does any one know? Please share your knowledge here so we can understand.

Recent Trend in Short Sales:

• 2nd position mortgage holder demands $X dollars more than the 1st mortgage holder is willing to allocate
• 1st position mortgage holder is unwilling to allocate more
• Seller doesn’t have the extra money to bring to closing
  

Doom Loop Scenario #1

• Buyer is unwilling or unable to pay the extra $X dollars on the seller’s behalf
• Buyer walks.
• Takes time to get a replacement buyer, the market continues to decline.
• 1st mortgage company loses much more than the $X dollars they withheld from the 2nd.

Doom Loop Scenario #2

• Buyer is willing to pay the extra $X dollars
• 1st mortgage refuses to let the buyer pay the extra money to the 2nd. 1st says any extra money needs to be added to the purchase price and should go to the 1st.
• 2nd is told they should take what the 1st is allocating. Something is better than nothing. 2nd doesn’t care. Gridlock sets in. The 1st loses much more in holding costs and diminishing value than the $X dollars. 2nd gets wiped out in foreclosure.

Doom Loop Scenario #3

• Buyer willing to pay the extra $X dollars.
• Buyer is an FHA or VA buyer.
• Buyer’s lender refuses to let the buyer pay the extra money, says it violates FHA or VA purchase loan policy.
• Buyer’s lender doesn’t care if the buyer loses the deal. Seller’s 1st mortgage company doesn’t care if they lose more at foreclosure, seller’s 2nd mortgage company doesn’t care that they get wiped out in foreclosure. Everyone loses except the foreclosure attorneys.

Doom Loop Scenarios #4 to #100

• There are many nuances and permutations to the 2nd mortgage doom loop. Too many to list here, but you get the idea.

2nd mortgage are contributing to the many foreclosures in the market. As always, it is best to put the best short sale Realtor on the job. These 2nd mortgage doom loop gridlocks can be often be overcome by sheer persistence and attrition. Your Realtor needs to be highly trained, experienced, committed, caring and dedicated to helping the seller avoid foreclosure.

Attribution: The phrase “doom loop” was either created or popularized by Jim Collins in his landmark book “Good To Great”.

One of the best aspects of living in Douglass Hills is the convenience of the park. Regardless of your age or interests, the park offers plenty to do. From a playground to tennis courts to sand volleyball pits to bike trails and open space for soccer, football, or frisbee golf; this green space has plenty for kids of all ages. Grills and picnic tables are available for family gatherings, quiet picnics, etc. There's even a large gazebo if your get-together is requires more space. Finally, the Douglass Hills pool is adjacent to the park.

While this public space is convenient to most of Middletown, there is nothing quite like being within walking distance. This is a tremendous amenity for Douglass Hills residents.

Playground

Sand volleyball courts and plenty of open space for soccer, frisbee, etc.

Gazebo for family gatherings

Water Slide

Douglass Hills Pool

Click the link to search for Douglass Hills Homes. When the search page opens, Click the Show Advanced Search CriteriaLink. Select Douglass Hills in the Subdivisions tab and then click on the Find House / Condo Listings button.

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Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliance in Louisville. If you need a Louisville Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Prospect, Middletown, Jeffersontown (J-Town), Fern Creek, Okolona, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley. Click the following links to learn more about Louisville and Bullitt County Real Estate or to Search for Louisville Homes

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Douglass Hills is actually its own city within the Louisville and Jefferson County borders. Incoporated in 1973, this residential area is home to almost 6,000 people. While condos and apartments do exist, the majority of people live in single family homes.

Due to the age of the neighborhood, you will find a diverse range of homes. In fact, it is difficult to drive through Douglass Hills and point to any 2 homes that are alike. Interiors are even more unique as each home has had a variety of home owners over the years. Most homes do have 3-4 bedrooms, 2+ baths, and at least 1700 squre feet of living area.

The above-mentioned diversity of Douglass Hills homes creates a fairly wide price range. You can find homes priced from the low 200s to the low 300s.

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Douglass Hills Neighborhood Info

The streets of this eastern Louisville neighborhood are lined with sidewalks and well-manicured yards. Since most of these homes were built in the early to mid 1970s, large trees are common. Underground utilities help maintain the aesthetic appeal.

One of the nicest features of Douglass Hills is the park. With walking and riding paths, picnic areas, sand volleyball pits, tennis courts and a large playground; there is something for everyone. Additionally, the neighborhood pool backs up to the park.

Schools

Students who live in Douglass Hills and attend Jefferson County Public Schools are in Cluster 5. Reside schools include

• Middletown Elementary School
• Crosby Middle School
• Eastern High School

Location

Douglass Hills borders Middletown to the west and is between Shelbyville Road and I- 64. This area is convenient to Middletown, J-Town, and Hurstbourne. As such, you have a plethora of dining and shopping locations.

Nearby Louisville Homes

• Willow Wood
• Plainview
• Foxboro Manor
• Old Dorsey Place
• Owl Creek

Click the link to search for Douglass Hills Homes. When the search page opens, Click the Show Advanced Search CriteriaLink. Select Douglass Hills in the Subdivisions tab and then click on the Find House / Condo Listings button.

* * * * *

Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliance in Louisville. If you need a Louisville Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Prospect, Middletown, Jeffersontown (J-Town), Fern Creek, Okolona, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley. Click the following links to learn more about Louisville and Bullitt County Real Estate or to Search for Louisville Homes

Get Updates in a Reader

Get Louisville Real Estate News by Email