Has the Louisville Real Estate Market Hit Bottom?

Greedy borrowers, shady lending practices, and not much common sense from our elected officials. Since the beginning of the house crisis, not much has been done to fix it. Our forclosure numbers are through the roof, but maybe the worst hasn't come yet. Most say our recent legislation is a step in the right direction.

According to the National Association of Realtors, distressed sales have peaked. Of coarse forclosures aren't going to stop tomorrow, nor the next day. But it is a positive step when there are less forclosures this month than last month.

Distressed properties are homes that is drowning financially, and is drowning surrounding properties. Even if your mortgage payment is paid to date, the short sale next door or down the street are negatively affecting your home's value.

Louisville doesn't have the worst housing market, however, home prices have dropped one percent from July 2010 to July 2011. Even though our Louisville market isn't the strongest, it's certainly not the worst.

So where do we go now? WHo knows, but jobs are the major concern for right now. Louisville job rate hasn't declined, but has held steady at 9.5% so we'll have to endure the rough waters until this recession ends.

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