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Red Edge Realty Louisville Real Estate News

HUD Foreclosure Deal of the Day for $55,000

1271 Lucas Ave Louisville KY 40213.

This home at 1271 Lucas Ave is for sale for $55,000 and is tax assessed for $102,700.  Qualifies for FHA 203b rehab loan for the estimated $3,300 in needed repairs.  These HUD deals are in my opinion the best buys right now.  Bidding deadline for owner occupants only ends July 4th at midnight.   

Click here for link to listing.     Email info@MLSKY.net or call 502-509-5131 for more information on how bidding on a HUD home and a FHA rehab loan works or click on "Schedule Showing" when viewing the listing.  Ask for Mike Hall-Principal Broker

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Louisville Housing Market Update June 2012

Louisville Home Sales have increased 15% through May 2012. 

2012 year-to-date home and condo sales in the Greater Louisville area are at 4673 units through May 31st which is 15% above the 4070 homes sold through the same period last year.   Prices are also up 4.2% to an average sales price of $163,013 from $156,388 in 2011.

The average sales price of $163,013 is almost back to 2005 levels.   Prices peaked in 2007 at an average sales price of $167.721.

Click here for the graph showing the trends since 2003.   Many properties are selling in less than a week and getting multiple offers.   All is a good sign our market is returning to a healthier state and looking good for the future.

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