Lexington Real Estate Blog

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Versailles KY Grocery Store Now Open

Thursday, March 29th, 2012 at 1:10pm. 36260 Views, 0 Comments.

A new Versailles KY grocery store is now open: Save-A-Lot recently opened in the former Woodford Plaza (which previously was home to Cable's Furniture & Appliances). The new grocery store is certainly a welcome addition to the Woodford County community as it allows persons to shop within their own area instead of having to drive further out to other communities. The Save-A-Lot grocery store employs approximately 30 persons.
One of the big attractions of the Save-A-Lot grocery store is that is typically runs with less overhead, which can often lead to lower prices. Extravagances like a lobster tank are unlikely to be found in a typical Save-A-Lot store - because they often lose money, which means the costs have to be bore by the other products in the store…

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Nicholasville Kentucky News

Tuesday, May 31st, 2011 at 4:38pm. 21838 Views, 0 Comments.

Wanted to touch on an interesting piece of Nicholasville Kentucky news that I saw today.  There is a proposed new toll road that would connect U.S. 27 in Nicholasville, to I-75.  The new road would would cross the Kentucky River and give direct access to/from Jessamine and Madison Counties.  The estimated cost for this new road is estimated to be between $181 - $245 million.  If tolls cost $1 for cars, and $2 for trucks, it is estimated that this road would pay for itself in approximately 30 years.

This certainly could of interest to all persons that own Nicholasville KY real estate along this corridor.  The Jessamine County Judge Executive has spoken in favor of this proposed plan as it would potentially provide better business opportunities within…

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7.4 Acre Horse Farm with House & Barn - $200,000

Tuesday, May 31st, 2011 at 4:34pm. 3091 Views, 0 Comments.

NOTE:  This property is no longer available.

For those that may have the flexbility to consider a location closer to Louisville than to Lexington, wanted to let you know about a real opportunity:

7.4 acre horse farm with a house, barn, RAMM Fencing, etc - all for $200,000! What a deal!

This horse farm for sale is located in Oldham County (which is the county NE of Louisville) in LaGrange KY.  [LaGrange is a thriving and growing community and most of your everday needs are located.  The farm is located a few short minutes from grocery shopping (Wal-Mart, Kroger, etc) - so you can enjoy all the comforts of living in town, while having the benefits of being out in the country.

The property address is:

1425 Dawkins Road

LaGrange Kentucky…

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New Versailles KY Homes Decline

Tuesday, May 31st, 2011 at 4:32pm. 3335 Views, 0 Comments.

The quantity of new Versailles KY homes are on the decline.  So far this year, only 64 new home permits have been issued.  At this same time last year, it was 132.  So, basically a 50% reduction in the amount of new homes being requested for being started compared to previous years.  In earlier recent years, the numbers have held pretty steady with 132 in 2006, and 147 in 2005.

But, if you look at the numbers a little more closely - its not showing the entire picture, as the permit figures do not include those being acquired for townhomes and condos.  Just looking at the September numbers, of the 39 permits issued - 37 of them were for townhomes and condos.  Only 2 were for construction of new Versailles Kentucky homes.  So, there is some activity…

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Luxury Lexington Condos May Not Be Completed

Tuesday, May 31st, 2011 at 4:31pm. 3274 Views, 0 Comments.

A real estate development currently under construction is now apparently in jeopardy.  Tribecca Development Company was building some luxury Lexington condos in a development called The Mark - but worked stalled on the 36 unit complex located at East High Street & Woodland Avenue a few months ago.  Shortly thereafter, many contractors that had worked on the development, placed liens on the property stating that they had not been paid for services or materials provided.

And now the primary lender for the project, Central Bank & Trust Company has asked the courts to force the sale of the development.  The luxury Lexington condos are now approximately 75% to 80% complete and no work is currently happening on the job site.  Tribecca Development Company…

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New Lexington Homes For Sale Decline

Tuesday, May 31st, 2011 at 4:29pm. 2699 Views, 0 Comments.

The ongoing drama with the economy, softening real estate markets, and banks tightening their requirements on loans continue to pinch the credit lines of Lexington area home builders.  As a result, the amount of new Lexington Homes for sale are on the decline.  This has results in both fewer new Lexington home permits being issued, and a new issue is starting to arise:  half finished homes are becoming more commonplace within the community.  What is happening is as builders get their credit lines called, they simply end up running out of money and can't afford to continue to work on homes - which then ends up costing them their permit (Home permits become void after 180 days of inactivity on the job site).

Here's a few snapshots of the metropolitan…

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New Midway KY Homes are on the way

Tuesday, May 31st, 2011 at 4:28pm. 3141 Views, 0 Comments.

A rezoning of what was industrial property has now made way for the construction of 600 Midway KY Homes.  The Midway City Council approved the zoning change on property located NE of I-64 & KY 341 on approximately 172 acres.  The applicant was Dennis Anderson from Lexington, and the plan incorporates a proposed 605 homes and townhouses.  The project is a comprehensive development that includes plans for a hotel (w/ 80 rooms), winery, health care operation, and a 3.5 mile walking path.

So, what does this really mean for Midway Kentucky?  It means that if this plan proceeds as currently proposed, that Midway will see a BIG change.  According to the information filed with the planning commission, Midway currently has a TOTAL of 623 homes that are…

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Lexington KY gets $1 million to purchase Homes

Tuesday, May 31st, 2011 at 4:27pm. 2020 Views, 0 Comments.

Lexington KY has received $1 million to purchase homes that are located in flood prone areas.  This money was given as a grant from FEMA to help reduce the amount of Lexington homes that are prone to water problems.  9 homes have been identified to have chronic flooding issues, and those homes will be purchased, and razed.  The properties are located in the Joyland subdivisionon Shandon Drive as well as Fort Sumter Drive which is located off Eastland Parkway here in Lexington KY.

The total estimated cost to address the flood prone areas in these communities is estimated at $1.3 million.  The additional $300,000 is to be contributed by the city of Lexington.  The 9 homes located within this area haven't actually been purchased yet - but all home…

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Nicholasville Kentucky Named Most Affordable Small City

Tuesday, May 31st, 2011 at 4:25pm. 2996 Views, 0 Comments.

According to a recent report done by Money magazine, Nicholasville Kentucky has been named the most affordable small city in America.  You can read the entire article in the August 2008 issue of Money magazine in the Top 100 Best Places To Live article.  Some accolades in the article given to the area include its proximity to Lexington (its essentially a bedroom community), as well as a home town atmosphere, and a 3 bedroom home starts at approximately $100,000, while a median home price of approximately $70,000.*

*With a value of $70,000 as a median single home price, its likely that when compiling the data that the analysts considered townhomes as part of the contributing source data.

A big congratulations goes to Nicholasville and its residents. …

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Lexington Homes are more expensive than Louisville KY

Tuesday, May 31st, 2011 at 4:23pm. 2101 Views, 0 Comments.

The local newspaper, the Lexington Herald-Leader recently had an article about how Lexington homes are more expensive than the homes in Louisville KY.  Their source for this comparison was the Coldwell Banker Home Price Comparison Index, which is released annually for persons to be able to compare what their homes value would be relative to properties in 315 other cities across the United States.  The standard of comparison utilized in the report was a 2200 sq.ft. home w/ 4 bedrooms, 2.5 baths, a family room, and a 2 car garage.

Louisville was the reigning champ for highest priced home in Kentucky in 2007.  For 2008, the Lexington homes with those features were priced at $291,000.  For Louisville, it was only $241,060.  A substantial turn around from…

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