La Grange Kentucky

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Home Prices Decrease Across United States

Friday, September 2nd, 2011 at 11:44am. 3696 Views, 0 Comments.

home price decrease across united statesSingle family home prices decreased across the United States for the first time since 1994 according to a recent report prepared by Global Insight & National City Corp.

The drop came in the 3rd quarter of 2007 when the median value of a home in the United States decreased by approximately 1%.  Approximately half of all metropolitan areas saw a decline.

This is an interesting point to note – because until this most recent study, the stronger real estate markets in the US have helped buoy up the other markets that were bringing the overall numbers down.  This is an indication that the other markets that have been fairing well even in a softer real estate market, may be slowing down and are not able to carry the rest of the other markets across the…

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Foreclosed Real Estate decreases by 10 percent in the United States

Friday, September 2nd, 2011 at 11:34am. 1603 Views, 0 Comments.

foreclosed real estate decreases by 10 percent in the united statesForeclosed real estate decreased by 10 percent across the United States for the month of November 2007.  Kentucky saw a decrease of 6.65%.

This is significant in that this is the first time there has been a double digit percent decrease in foreclosures since April 2006 – some 20 months ago.

But, we aren’t out of the woods yet so to speak.  There are predictions for a very strong foreclosure rate in the 1st quarter of 2008 – a primary cause being the seasonal influx of persons that are filing before various deadlines, as well as those that may file due to an increase of adjustable mortgage rate persons having their mortgages reset and the current home owner not being able to address the debt service of the higher payment for their…

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United States Real Estate Market affects Job Hiring

Thursday, September 1st, 2011 at 4:51pm. 1000 Views, 0 Comments.

united states real estate market affects job hiringAccording to the most report from Washington D.C., the United States real estate market had a negative impact on job hiring for the past month of November 2007.

Many construction companies fired employees in an effort to reduce costs during this slower real estate market.  Mortgage companies, real estate companies, and banks followed suit.

Still, unemployment overall remains at 4.7%.  Kentucky’s unemployment rate was 5.6%.

There were modest employment gains overall – primarily as a result of the services industry.

These modest job gains will likely stimulate the Federal Reserve to make interest rate cuts to help ensure that the economy remains moving forward.

Some more detailed information is as follows:

Non-farms payroll increased…

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