The Real Estate Market has Turned the Corner

The Real Estate Market Has Turned the Corner

There are a number of current facts pertaining to home sales as well as all kinds of prognosticators that expect home prices to continue to rise.

If you are renting this is the time to buy.  Interest rates are historically low and you can buy in Central Kentucky for less than you can rent.  So, why wait?  Give Paul a call at 859 684 5890

Click this link to get the whole scoop on the current housing market.

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Rector Hayden Sets the Pace for Selling Homes in Central Kentucky in 2013

Rector Hayden Sets the Pace for Selling Homes in Central Kentucky in 2013!

The Jubilee Team is thankful to be affiliated with Rector Hayden Realtors. We are so thankful also for all of our clients for another great year in 2013.

Call Paul to get a free market analysis to sell your home.  859 684 5890  or shoot him an email at pcampbell@rhr.com

2014 was another great year for Central Kentucky's leading realtor

Rector Hayden Realtors Continues to Sell more home in Central Kentucky. The nearest national brand realtors are still far behind.

The Housing Market is really hot in certain Lexington neighborhoods and certain price ranges.

The Housing Market is really hot in certain Lexington neighborhoods and certain price ranges.

  Many of the neighborhoods in south Lexington have become a strong sellers market.  This has happened in the past six weeks.  There are other neighborhoods within certain price ranges where it is almost impossible to get a contract on a home for a buyer.  Anything priced below $160,000 in south Lexington that is in good condition will often sell the first week and sometimes even the first day.

Dorothy is working with buyers who every time they look at a house it has an executed contract before she can even finish writing the contract.

I wonder if houses that sell the first day are priced under the market value.  It seems to me that if a home sells almost immediately and only one person was able to make an offer that you really do not know what the market value was.  Some of these homes I suspect would have easily sold within the first month priced five to ten percent higher. 

Price drop in Georgetown. Seven year old new home is less than $69 a square foot. Move in now!

Price drop in Georgetown.  Seven year old new home is less than $69 a square foot.   Move in now!

Beautriful home on a cul-de-sac in Georgetown

Less than $69.00 a square foot and ready to move into now!

 

Open House SUNDAY March 24th 2-4pm; Come for a chance to win $300!

 

The popular Anderson floor plan features four large bedrooms, walk-in closet, separate utility room, vaulted master, a garden tub, spacious kitchen, formal living room & dining room, and more. The family room offers an open floor plan to the breakfast area & kitchen, yet comes with a slight separation for the discriminating buyer.

The first floor also comes with more than your average storage capacity by offering a pantry as well as a utility closet, in addition to the hall closet in the grand foyer.

The breakfast area leads to a backyard patio with a nice sized, fenced yard.

Large eat in kitchen with large bedrooms and priced at less than 70 dollars a square foot. Hurry and look at this one. Open house March 24th from 2:00 to 4:00 PM

Price drop in Georgetown.  Seven year old new home is less than $69 a square foot.   Move in now!

This house boasts a flat driveway suitable for a variety of recreational activities with the advantage of being at the end of a cul-de-sac. Less than 1 mile away you’ll find shopping, dining, park, post office, and more. Home is move in ready & seller is offering a 1-yr HMS Honme Warranty for buyer’s peace of mind.


Lansdowne Merrick Subdivision 5 Year Market Report, Lexington Ky 40502

Lansdowne Merrick Subdivision 5 Year Market Report, Lexington Ky 40502

Lansdowne Merrick Subdivision, Lexington Ky A saltbox style home at the end of a street.

 

These first two graphs show homes sold and the average price.  Be sure to scroll down to view the graphs that show the number of days on the market and the square footage of the homes sold.

Lansdowne Merrick Subdivision is a neighborhood that is a short commute from downtown Lexington and the University of Kentucky.  It is inside New Circle Road and an easy walk to Chinoe Center and Lansdowne Shoppes.  It is also a short walk to Julius Marks Elementry.  For more details on this coveted neighborhood click on this link.

This is neighborhood that just does not have a large turnover so our numbers of home sold is not very large.  There are still some interesting things that can be learned from looking at these first two graphs below carefully.

Lansdown Merrick Subdivision 5 year market report, Lexington Ky 40502

There is a dramatic reverse corelation between the number of homes sold and price for the first four years and only a slight difference in 2012.  The more homes that were on the market the lower the price sold.  This is to be expected in most markets. So the interesting question is why 2012 prices took almost a 10 percent rise when the number of homes on the market stayed high?  Could it be that buyers have recognized these homes are really a very good value?Take a careful look at the cost per square foot bar graph below.  Even though prices went up almost 10 percent in 2012 the prices per square foot of homes sold in Lansdowne Merrick went down over over 10 percent.  Read below the detailed explanation.  

 

Sellers,  this may be a very good time to put your home on the market if you live in Lansdowne Merrick.  Buyers, with the interested rates still historically low you can still buy on of these homes with a very low monthly payment.

To get a free market analysis on your home or set up an appointment to see one of these homes on the market give Paul a call at 859.684.5890 or send him an email at pcampbell@rhr.com  Click on the link below to see the homes currently for sale in Lansdowne Merrick Subdivision.

The homes for sale in Lansdown Merrick currently range in price from $148,000 to $272,950.

 

Lansdowne Merrick Subdivision 5 Year Market Report, Lexington Ky 40502

These two graphs show the Days on the Market and the Square Footage of the homes that sold over the past five years.

Two things that stand out on these two graphs.

  • The days on the market for 2012 have dropped significantly.
  • The size of the homes is significantly larger for 2012.

So what does this mean? 

It means that buyers were eager to snap up these larger homes because they recognized real value.  In 2011 homes in Lansdowne Merrick subdivision sold for $93.41 a square foot.  In 2012 they sold for $84.19 a square foot.  Prices of homes sold increased per unit but they were a great value because of the size of the homes that sold.

Emerson Woods Subdivision, Days on the Market and square footage of homes sold for five years, 20008-2012

Lansdowne Merrick Subdivision 5 Year Market Report, Lexington Ky 40502 Days on the Market and square footage of homes sold for five years, 20008-2012 

 

 

 

 

 

 

 

Paris Kentucky homes for sale continue to be a great buy.

Paris Kentucky homes for sale continue to be a great buy.  Paris is in Bourbon County which lies mostly northeast of Lexington had only twelve homes sale in the month of October.

It is still very much a buyer’s market with nine month’s inventory for all price ranges.

Bourbon County, outlined in red, lies northeast of Lexington Kentucky and is about a 20 minute commute.

However there are 21 month’s inventory for homes priced between $100,000 and $119,900 and 20 months inventory for homes priced between $160,000 and $179,900. The county seat of  Paris is a small town compared to the other county seats in Central Kentucky.  Bourbon County is well known for its beautiful horse farms and other agricultual endeavors.  Bourbon County is outlined in red on the map above.

Paris is about a twenty minute drive to Lexington and thirty minutes to the University of Kentucky.  There are a number of charming homes on the market in Paris that can be purchased with a payment for much less than you could rent in Lexington. The charm and elegance of this home priced at under $200,000 is remarkable.

Take a look at this home with 2,000 square feet on well over half an acre.

Don’t hesitate to give me a call at 859 684 5890 or shoot me an email at pcampbell@rhr.com to see one of these lovely Paris Kentucky homes for sale.

Click on this Link if you are interested in one of Kentucky’s  most gracious and elegant homes.

Is Fayette County Kentucky moving to a seller’s market?

The latest Rector Hayden housing market report shows that homes priced below $450,000 are continuing to move towards a seller’s market.  There are three price ranges with over six months inventory and three with under six months inventory.  There are an additional six price ranges under $350,000 with  exactly six months inventory.  This is quite a change from a year ago when homes priced over $250,000 were mostly in the nine to twelve months inventory category.

Housing inventory in Fayette County continues to shift to a seller's market.

Several price ranges in the latest market report for Fayette County Kentucky show a continued move toward a seller’s market.

Total inventory of homes for sale in Fayette County Kentucky is now six months.  There is still a very strong buyer’s market for home in Fayette County that are priced above $450,000.  There are 15 months inventory of homes priced between $500,000 and  $549,999.  There are 26 months of inventory for homes between $800,000 and $999, 999.

What does this change mean for sellers and buyers?

If we continue to see movement toward a seller’s market in most of Fayette County it should mean higher prices.  This is good for seller’s who are moving to a lower priced home but not so good for those who want to move up.  As prices increase the buyer who has a home to sell will lose money as they move up.  If your $100,000 home increases in value ten percent you will have a gain of $10,000.  However if you want to move up to a $150,000 home that home will increase in value $15,000.  So really you have lost a net $5,000 when prices increase 10 percent.  It is just the opposite if prices are decreasing.  So moving up to a nicer home is better financially when prices are decreasing.  Conversely moving down to a smaller house is a financial gain for sellers when prices are increasing.   So if you have been waiting for prices to increase before downsizing this may be a good time to sell.  Give me a call at 859 684 5890.

Home Buyers in Central Kentucky, Clark County may be the best place for great buys!

The latest Rector Hayden Market Report shows that Clark County is still a strong buyers market.  Most of the Central Kentucky counties are beginning to lean some toward a seller’s market.

Clark County still has at least seven months inventory in every price range and more than nine months inventory in all but one.  Homes priced from $100,o00 to $119,000 have seven months inventory available.  All other price ranges have nine months or more.   With historically low interest rates this is a once in a life time opportunity.  Call Paul now to get a great buy on a home.  859-684-5890

The chart below shows the current indicated months of inventory of homes for sale in Clark County.

Clark county in Central Kentucky is still a buyer's market.

Home buyers don't miss the great buys in Clark County.

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Can this be true? Fayette County Kentucky is a seller’s market?

If you have been waiting to sell your home in Lexington Kentucky this may be the time to get off the fence!

The September Rector Hayden Market report shows that certain prices of homes have become a seller’s market.  Homes priced below $70,000 and between $140,000 and $159,999 now have less than six months inventory. Many other price ranges of  homes have moved to only 7 months inventory.

The super low interest rates continue to entice buyers.  So give me a call if you are ready to take advantage of the new housing market conditions in Lexington and Fayette County.  Call Paul  859 684 5890 for a free market analysis.

 

 

Certain price ranges of homes for sale in Lexington Ky are now a seller's market.

Is Fayette County now a seller's market?

Public Notice, Central Kentucky Nudges Toward a Seller’s Housing Market!

Yes, that is right!  The latest Rector Hayden Market Report shows that the number of homes for sale in Central Kentucky is slowly decreasing while the sale of homes continues to be strong.   Homes for sale in Central Kentucky for August have dipped below 6,000.  That is the lowest total of homes for sale in Central Kentucky in the past five years.

In contrast, the homes sold in Central Kentucky is the highest total in the past five years.  This is good news for home sellers in Central Kentucky. This could be the opportune time to sell your home.  Give me a call for a free market analysis.  859-684-5890

See the whole report here.

Buyers don’t waste this opportunity to buy while interest rates are historically low!

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