Oldham County

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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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Louisville KY takes Prospect Kentucky to Supreme Court over Land Dispute

Thursday, September 1st, 2011 at 5:19pm. 1250 Views, 0 Comments.

louisville ky takes prospect kentucky to supreme court over land dispute5 years ago in 2002, when Louisville announced was nearing the change of the city limits to include the metropolitan area of Jefferson County Kentucky, there was a policy rules announcement that included a moratorium on any land acquisitions by government until the year 2015.

Prospect Kentucky then “snuck in under the radar” so to speak, and acquired 50 acres located between Highway 42, and Riber Road in between Ken Carla Drive and Timber Ridge Drive close to Harrods Creek, just before the metro Louisville KY came into existence, and with it, the rules prohibiting such acquisitions.

Louisville KY has since been in litigation with Prospect Kentucky saying that Prospect acted illegally by knowingly grabbing the property into its city just before the…

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Proposed Oldham County KY and Shelby County Kentucky Airport

Thursday, September 1st, 2011 at 5:01pm. 2955 Views, 0 Comments.

proposed oldham county ky and shelby county kentucky airportThere are currently 3 sites being considered for a possible airport to be put in either Oldham County and/or Shelby County Kentucky.  The proposed sites would encompass approximately 250 acres with estimation of costs in the $20 million range.

Most residents in the areas feel that an airport isn’t needed given the proximity to other major airports including in Louisville Kentucky, Lexington KY, and northern Kentucky in Covington / Cincinnati.

Bowman field in Louisville KY is approximately 30 minutes away from the proposed sites.

Current estimates for air traffic for the proposed airport is over 100 plans arriving/departing per day.  But there would not be a control tower or air traffic controller handling and managing the incoming/departing…

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United States Real Estate Market affects Job Hiring

Thursday, September 1st, 2011 at 4:51pm. 1001 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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Unemployment Rate Increases for 94 Counties in Kentucky

Thursday, September 1st, 2011 at 4:38pm. 931 Views, 0 Comments.

unemployment rate increases for 94 counties in kentuckyWithin the past year (October 2006 through October 2007), the unemployment rate has increased for 94 Counties in Kentucky.

Only 18 Counties in Kentucky saw the rate decrease – while 8 Counties made no change within the past 12 months.

The dubious highest unemployment rate honor goes to:

Jackson County @ 10.2%

The 2 lowest Counties were:

Fayette County and Warren County @ 3.7%

It is important to note that these numbers represent a trend for employment, rather than noting how many persons may actually be working. Persons that are not currently seeking employment over the course of the past month are not included in these figures.

Various reasons can be attributed to the increase – including a softening economy and real estate…

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30 Year Mortgage Rates Lowest in 6 months

Thursday, September 1st, 2011 at 4:27pm. 1457 Views, 0 Comments.

30 year mortgage rates lowest in 6 months30 year mortgage rates are the lowest that they have been in 6 months.  The rates dropped to an average of 6.20% for a 30 year fixed rate mortgage.  The previous week, they averaged 6.24%.

This is the lowest rate that they’ve been since the week of May 10 2007 where they were at 6.15%.

15 year mortgages also dropped to 5.83%.  The prior week, the 15 year fixed rate mortgage was at 5.88%.

5 year adjustable rate mortgages were down to 5.88%.  The prior week, they were 5.96%.

1 year adjustable rate mortgages were 5.42%.  The previous week, they were 5.50%.

Its a great time to buy real estate in Louisville Kentucky.  Search for homes for sale in Louisville Kentucky now – and see if you can lock in a good deal today! For anyone that…

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Kentucky Employment Rate Increases in October

Thursday, September 1st, 2011 at 4:24pm. 1466 Views, 0 Comments.

kentucky employment rate increasesThe Friday November 23 2007 edition of the Shelbyville Kentucky newspaper, The Sentinel-News reported that the Kentucky employment rate saw increases in the month of October.

The unemployment rate for Kentucky was 6.1% in September.  In October, the unemployment rate was 5.6%.

Across the United States, the jobless rate has been fairly constant recently maintaining at 4.7% through September & October 2007.

Of the 11 major non-farm job classifications, 4 of them saw employment increases for the month of October.

6 of the major non-farm job classifications saw decreases for employment.

1 remained unchanged.

A net change of 100 jobs decrease was seen in October 2007 for Kentucky’s non-farm employment.  The total is currently: 1856500 jobs.…

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Soft Real Estate and Housing Market May Affect Charities

Thursday, September 1st, 2011 at 4:11pm. 897 Views, 0 Comments.

soft real estate and housing market may affect charitiesAccording to the Louisville Kentucky newspaper, The Courier-Journal, the soft housing market may affect persons that you wouldn’t normally consider:  the homeless.

Most of the persons that donate to charities and help them through the winter months, are also the persons most likely to be feeling some of the fallout from the real estate markets and mortgage industries.  Add in rising food and energy costs, and many persons with disposable incomes to help out others, may start feeling the pressure that they need to help themselves first.

And then add in more persons in need of charitable assistance this year – many charities are reporting up to a 25% increase in persons in need this year.

Then add in the recent drop in the stock market (the S&P…

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Rural Development Office provides Home Repair Loans

Thursday, September 1st, 2011 at 4:07pm. 1836 Views, 0 Comments.

rural development office provides home repair loansThe Shelbyville Kentucky newspaper, The Sentinel-News, had an article today about the United States Department of Agriculture (USDA) Rural Development Office is going to be providing home repair loans for very low income applicants in the following counties:

Shelby County

Henry County

Oldham County

Spencer County

Franklin County

Trimble County

Applicants desiring to make application for the program, can apply at the Rural Development Office located at 90 Howard drive in Shelbyville Kentucky.

The maximum possible loan under this incentive program is $20000 with the interest set at 1% with a loan term not to exceed 20 years.

The uses for the home repair loans can be for a variety of needs including:

Gutters

Doors

New Septic…

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Woods of Glen Oaks subdivision gets approval from Fiscal Court

Thursday, September 1st, 2011 at 2:01am. 1504 Views, 0 Comments.

oldham county kyA 37 home subdivision built on 32 acres has received approval from Fiscal Court.  This property is located a short distance from Jefferson County across the Oldham County line.  The property was zoned as conservation.  The developer Icon Properties will still need approval from Jefferson County Planning and Zoning Commission to approve its preliminary development plan.

Many of the neighbors in the area were quite upset with the result and felt that its one more example of development moving into environmentally sensitive areas.  Concerns environmentally, and ecologically were raised as objections to the proposed development, but weren’t enough to sway the approval.

Icon Properties has agreed to several concessions including an easement that…

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