Prospect KY Real Estate

There are currently 31 blog entries related to this category.

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30 Year Mortgage Rates Lowest in 6 months

Thursday, September 1st, 2011 at 4:27pm. 1456 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. 1834 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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Kentucky Ranks 8th in Business Climate

Thursday, September 1st, 2011 at 3:59pm. 1105 Views, 0 Comments.

kentucky ranks 8th in business climateSite Selection magazine (a magazine with an international reader base in regard to economic development) has just released its 2007 Annual Business Climate Rankings – and Kentucky placed 8th for business climates.  Some of you may ask, “What is a business climate and what does it mean?”.  A business climate essentially is an evaluation of numerous factors for a particular area’s performance, as well as opinions of corporate executives for how well a state provides an ease of doing business, overall business costs, and other areas that promote business development, growth and incentives.

This award is just one of many that Kentucky has received recently fro economic development awards.  Other recent awards and honors include:

Annual…

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United States Job and Payroll Growth in October

Thursday, September 1st, 2011 at 3:46pm. 869 Views, 0 Comments.

The Louisville Kentucky newspaper, The Courier Journal recently had an article about United States jobs and payrolls. Employers have added two times the number of jobs that was previously projected for the month of October 2007. The Labor Department also noted that payrolls grew by 166000, and that the unemployment rate didn’t move and is holding steady at 4.7%. All of these are good indicators despite the nervous economy regarding the housing market being soft and mortgage industry being in turmoil. Kentucky’s rate for unemployment is at 6.1%.

The job increases came primarily from the following sectors:

legal services

temporary help firms

hotels & motels

schools

restaurants

bars

hospitals

accounting & book keeping…

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2008 Ryder Cup Louisville Kentucky

Thursday, September 1st, 2011 at 4:14am. 990 Views, 0 Comments.

ryder cup louisville kentuckyThe Louisville KY  newspaper The Courier-Journal had an article today about the 2008 Ryder Cup to be held in Louisville Kentucky.  This will be the 37th Ryder Cup golf championship and will be held at Valhalla Golf Club located on the east side of the city on Shelbyville Road US 60 on September 16-21 2007.  The entrants consist of 12 players per team – but their staff, delegates and support can swell that number to as many as 300 per team.

This golf tournament, while one of the great wonders in sports, is also expected to draw 240,000 visitors to the state.

This has caused a rush on local hotels as they are filling up fast for the event.  Hotel rates usually range from $80 – $100 in the Louisville KY metropolitan area, but for the dates during…

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Jefferson County Kentucky 2007 Tax Bills sent

Thursday, September 1st, 2011 at 4:11am. 1074 Views, 0 Comments.

The Louisville Kentucky newspaper The Courier-Journal wrote an interesting article today about the Jefferson County Kentucky 2007 tax bills.

Almost 308,000 tax bills have been sent out to property owners in Jefferson County KY.

2007 Tax Rates are as follows:

Jefferson County (metro government)  12.55 cents per $100 of assessed value.  [This is down .05 cents from 2006.]

State of Kentucky 12.4 cents per $100 of assessed value [This is down .4 cents from 2006.]

Jefferson County public schools 61.5 cents per $100 of assessed value [Same as 2006.]

To give an example for a homeowner that would be assessed all 3 of those taxes on home that has a value of $200,000, they will pay $1729 this year.

Persons that pay their tax bill early no…

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Kentucky Real Estate Foreclosures

Thursday, September 1st, 2011 at 4:10am. 940 Views, 0 Comments.

kentucky real estate foreclosuresThe Lexington Kentucky newspaper, Lexington Herald-Leader, had an article yesterday that discussed foreclosure rates nationally compared to Kentucky real estate foreclosures.

According to the article, foreclosure rates nationally increased by 30%, which brings the total to more than double what they were a year ago.  On the other end of the spectrum, Kentucky real estate foreclosures only increased by 3.5% putting Kentucky below the national average, and 36th overall for the 3rd quarter 2007, and is actually a decrease of 0.2% from the previous year’s 3rd quarter in 2006.

Despite the somewhat weak national real estate market, Kentucky continues to weather the storm so to speak with little effect here on a local level.

Nationally, in the 3rd…

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Real Estate Mortgage Rates Decrease

Thursday, September 1st, 2011 at 4:07am. 728 Views, 0 Comments.

real estate mortgage rates decreaseThe Lexington Kentucky newspaper, the Lexington Herald-Leader reports today that a real estate mortgage rates decrease has happened over the past week.  Rates for 30 year mortgages dropped to the lowest level in 5 months at 6.26% according to Freddie Mac which is down from 6.33% the week before.

5 months ago on May 17 2007, 30 year mortgage rates were at 6.21%.

15 year fixed rate mortgages have averaged 5.91% which is down from 5.99% last week.

5 year adjustable rate mortgages averaged 5.98% which is down from 6.03% last week.

1 year adjustable rate mortgages averaged 5.57% which is down from 5.66% last week.

Its a good time to buy real estate in Louisville Kentucky especially if you are moving up to a more expensive property.  A lot of…

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