Lyndon, KY

The warmer weather we are experiencing in Louisville, after a month or two of ice, cold, and snow reminds us that we will soon be in entering the traditional spring real estate season, where the amount of activity picks up. As an agent who has been successful in all seasons, I tell people that waiting till spring is not necessary. Right now, some trends in the current market favor buyers, some favor sellers, but the trend is overall positive. I might optimistically say there is warming trend in Louisville real estate.

For buyers, housing in Louisville is as affordable as it was in January, 1969. That doesn't mean housing is priced the same as 40 years ago, but the ability of people to make mortgage payments on an average priced home is about the same. Forbes Magazine even rated Louisville at #30 in the country for affordable homes, as area residents need to spend only 20% of their income on home ownership.

In actual dollars, the average Louisville buyer has to put out $141,900 to buy a home, but these prices vary by neighborhood. There are many homes priced well under $100,000 south and west of the Central Business District. Real estate located downtown and in Butchertown, Phoenix Hill, Old Louisville, and much of the East End command higher prices.

Added to the reasonable prices, interest rates are currently hovering around 5% for a 30 year fixed mortgage, also allows a buyer to get more purchasing power. This figure is predicted to be the norm throughout 2011,

The other thing that plays into housing affordability is the unemployment rate. Current rates in Louisville in February, 2011 are 9.8% , above the national average of 9%. The unemployed or those recovering from a bout of joblessness will be unable it share in the real home values, but those fortunate enough to be workings can benefit from the combination of low prices and low interest.

Sellers of property under $240,000 are likely to sell their homes more quickly, as there is more demand for homes below this amount. Housing inventory for homes below this price point is expected to decline, so seller may see more interest in their properties, more open house visitors, more competition, and multiple offers. Right now the average days on market (DOM) for Louisville property is 70 days, the lowest since 2005 when 65 days was the norm. More than ever, correctly pricing the home is key to selling at or below the average DOM.

Enjoy the warming trend in Louisville real estate. My team and I at Younger Group Real Estate can show you affordable homes within your budget in Butchertown, St. Matthews, The Highlands, and other great Louisville neighborhoods. We know Louisville!

It's often tough to find that perfect place to call home, a house near enough restaurants, entertainment, groceries and gas to be convenient, yet far enough from them to allow for the feeling of privacy and nature. In Louisville, these homes are often found in Lyndon.

Lyndon truly borders every major interstate in Louisville, making travel to any destination in the city an easy trip of about ten minutes or fewer. With fast access to I-71, I-64, and the Watterson Expressway, commuters find their commutes less frustrating and time consuming. Five minutes south of Lyndon are the two best malls in Louisville, Oxmoor Mall and St. Matthews Mall, plus an array of restaurants to satisfy any palate. To the east, Hurstbourne Lane, another thoroughfare of entertainment and dining.

A map's view of Lyndon reveals its strong point, as it serves as a bridge between the ever-popular St. Matthews area and the growing eastern side of Jefferson County. Lyndon offers quick and easy access to both of these points, with The Summit shopping center/outdoor mall, Cinemark Tinseltown Movie Theatres, Springhurst Shopping Center, and a variety of restaurants to the northeast. Properties here have the vantage point of benefitting from strong property values on both borders.

Lyndon offers its residents many options. It consists of everything from small homes built in the 1950s to larger and newer homes ranging in price up to $300K. Its St. Matthews, Hurstbourne, and Anchorage borders only serve to increase its appeal.

Despite its great borders, Lyndon does have a few niches of its own. The YMCA recently built a new water park just off Mill Brook Road. There are also a few amazing little restaurants off New LaGrange Road, including The Corner Café.

Truly a family community, Lyndon offers a wonderful place for Louisville residents to live. For more information on this or other Louisville area neighborhoods, please contact The Vince Carter Team.