The Louisville Courier-Journal recently reported an expected shortage of affordable Louisville housing for low-income residents. A group supporting the construction or allocation of increased housing for low-income residents wanted to know how the scheduled demolition of Sheppard Square would affect affordable housing in and around Louisville. The Metropolitan Housing Coalition has requested that the planned [...]

The HousingWire.com report provides very welcome news to real estate professionals in most markets across the country. The National Association of Realtors reported that pending home sales on signed contracts were up for the eighth consecutive month in September. The NAR reported that pending sales rose 6.1 percent from August to September and were 21.2 [...]

The Louisville Courier-Journal reports that the remaining Louisville condos at the posh luxury condominium tower, Waterfront Park Place, will be auctioned. The 23-story Louisville condominium building has 15 unsold units that will be auctioned to bidders submitting sealed offers, according to the spokesperson for Waterfront Park Place, Barbara MacDonald. She reported that Eleanor Bingham Miller, [...]

DSNews.com reports that billionaire investor, Wilbur Ross, says that the U.S. is at the very beginning of a “huge crash in commercial real estate” and that he would exercise “extreme caution” before investing in this sector of real estate.
“All of the components of real estate value are going in the wrong direction simultaneously,” Ross said [...]

Congress passed a compromise measure extending unemployment benefits and the $8,000 tax credit for qualified first-time homebuyers, in spite of recent revelations on widespread mistakes and suspected fraud in the popular program. The tax credit program was scheduled to end on Nov. 30, 2009, but the homebuyer extension will cover homes under contract by April [...]

An article published recently in the Louisville Courier-Journal reported that Louisville Metro Planning and Design Services’ staff are studying better zoning for homes in the Prewitt Acres subdivision. The merger of city and county zoning classifications that happened decades ago led to the subdivision near Southside Drive and New Cut Road zoning for industrial use [...]

The Wall Street Journal reports a bit of news that discount real estate brokerages have been eagerly looking forward to for some time. The article said that the Federal Trade Commission has ordered an affiliate of the National Association of Realtors in the Detroit region to stop certain practices that the federal agency determined illegally [...]

The Federal Reserve Bank of St. Louis’s Burgundy Book—a financial report issued quarterly about economic activity in Louisville, Little Rock, St. Louis and Memphis—said that the health of Louisville’s economy was mixed this past summer. Published in September, the report said that car dealerships and general retailers declared some successes that were tempered by low [...]

One Louisville commercial real estate property owner said he hadn’t been able to find a tenant for his small retail building he co-owns on Shelbyville Road in 15 months. This Louisville Courier-Journal article reports that the owner’s building had never been vacant for longer than a month in 25 years.
“That ought to tell you something,” [...]

Foreclosed homes in Louisville that have been sitting vacant and tough to sell are selling unexpectedly well at local real estate auctions. Online real estate auction company, Auction.com, held an auction at the Seelbach Hotel recently that brought out a wide range of people interested in buying Louisville foreclosed homes.
“They bid on the property and [...]