Louisville Properties Blog
Louisville Properties Blog


New Louisville Condo Development Transforms Building into the Marseilles of Cherokee Road

Looking for a Louisville condo for sale? A development group purchased and transformed the 19th Century Cherokee Triangle home, previously divided into eight apartments, into a new Louisville condominium building called The Marseilles of Cherokee Road Condominiums. The new Louisville condo building's address is 927 Cherokee Road—close to Eastern Star Drive—and has been renovated, reconfigured and expanded to accommodate six condos as part of a $1.2 million development. Part of the building's renovations included a new addition to the back of the structure and the interior was gutted and made into luxury condos.

One of the developers, Robert Dockery, owner and manager of Bob Dockery Entertainment near Los Angeles, is a Louisville native who wanted to transform the "eyesore" into a model for older apartment buildings in the Highlands neighborhood.

"While it's been a long and complicated undertaking, we think the end project is really going to be dynamic," Dockery said. "The aim has been to blend historic features with state-of-the-art-type amenities that people expect today."

Each new Louisville condo for sale has advanced audio and video systems and high definition cable connections already built into the walls. Dockery said that two of the condos are very near completion and each will be used as models, complete with furnishings. Prices for the units range from $256,000 to $499,000.

If you're looking for the perfect Louisville condo, call Louisville Properties today at 502.744


Empty Nesters Fuel Boom in One Segment of Kentucky Real Estate Market

Kentucky business news source, The Lane Report, claims in a recent article that one sector of Kentucky's housing market is going strong while other segments flag in the economic downturn. Baby boomers nearing retirement age are driving sales in condominium-style housing, which allows owners to experience a lifestyle with much less property maintenance than a stand-alone home. During a period where Kentucky home sales are down around 40 percent, condo sales represent the lone bright spot in a sluggish housing market. Louisville realtor Mira Farmer said, "This type of buyer is looking for maintenance-free living, yet is not ready to go into assisted living or ‘retirement' communities. Most of these buyers want smaller house payments as the majority of them are either on fixed incomes, or have lost a significant amount of their retirement in the past few months due to the downturn in the economy." Many empty nesters are weary of mowing lawns, shoveling snow, painting, tree trimming and all the other maintenance that goes with owning a home and Kentucky condo developers are responding to the demand for a more leisurely lifestyle. Also called "garden" or "patio" homes, newer ranch-style condo designs are growing increasingly popular with buyers as they allow owners less stress and more time to travel and explore other leisure pursuits. Condo developers say that this emerging demographic favors upscale features such as glassed-in sunrooms, screened porches, brick patios, first-floor master bedrooms, granite countertops and other amenities. In spite of the current performance of the economy in Kentucky and the country as a whole, builders claim that the economic downturn presents unique opportunities for Kentucky home buyers and are hoping that the current uptick in condo sales will continue. Despite the state of the economy, there perhaps has never been a better time to buy...

Downtown Louisville Condo Decline Reflects National Trend

The worldwide economic downturn is affecting housing markets everywhere, including condominium projects in downtown Louisville. A recent article in the Louisville Courier-Journal claims that some downtown Louisville condo projects are being delayed and others turned into rental properties as slow sales and uncertainty about job security deter skittish developers and potential condo owners.  The Courier-Journal reviewed 12 different downtown Louisville condo projects and found that 5 of them—mostly larger projects with a combined total of 760 units—are now on hold with one project in foreclosure. Of the 7 condo projects that were completed or partially completed in the last several years, only 77 of 287 units have sold. The decline of downtown Louisville's condo market reflects a national trend. The median price of condominiums across the country has dropped 20.2 percent over the first 3 months of this year according to the National Association of Realtors. In the Louisville metropolitan area, condo prices have dropped 11.1 percent from this time last year to $113,600. Louisville Metro Mayor Jerry Abramson agreed with local developers and Louisville real estate agents who claim that the current setback in downtown condo prices and development is temporary. "It's not good, but we're really strong compared to our sister cities around the country," Abramson said in an interview. He said he's confident the same downtown attractions that started the condo building boom a few years ago "will reignite the investment of folks looking for a downtown experience." If you're looking for a downtown experience and are interested in owning a condo in downtown Louisville, make LouisvilleProperties.com your first stop. The site is the premier online resource for people interested in buying or selling Louisville real estate of any kind, and offers the full spectrum of ...
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