How's the economy?

[Irishtom29]

Originally Posted by wrx04

Wow...thanks for the responses. Sounds like pretty good news so far. I would love to get some contact info from you guys, so if you get a chance, that would be awesome. My ideal situation would be to buy out an existing practice, so if you know anyone who is even close to retirement I would really appreciate the heads up.

Other than that, how about the housing situation? Are most of the houses in the suburbs new construction or are they older models? And how about those new lofts right downtown...has anyone been in those? They look pretty cool, but it's kinda hard to tell from the limited pics on the web. Thanks again.

Lexington really has no suburbs. Many of the outer areas of the city are stereotypically "suburban" in character----subdivisions with houses and "concentration camp" apartment complexes. Winding streets instead of a grid.

I checked out many of the lofts downtown, they're half empty and desperate to sell or if they can't sell at least rent. Some are very nicely done and rents are comparatively low. Indeed, while we were looking at one large loft the agent brought the rental price down twice. I think the things are gonna end up trashy and full of transients but right now they look OK as rentals.

[LEXpert]

Alot of the new condos downtown are for rent. They are pretty cool. Does the WRX in your ID refer to a Subaru WRX? I am a car guy, so I just had to ask...........

[blue_eyedgirl]

I can't speak so much for Lexington but for Kentucky in general. I am from KY but live out of state now for right at 6 years. I am currently in the process of job hunting in the South-Central Kentucky area to move back home and its not going that well. The cost of living is great but the job market isn't what it used to be. There are plenty of entry level crappy jobs to choose from but not much else. I want to keep close to my current level of pay with a similar benefits and retirement package. Phew, its not easy finding anything even close to that in KY right now. I'm keeping the faith thought that it will happen. Good Luck with your move!

[wrx04]

Originally Posted by LEXpert

Alot of the new condos downtown are for rent. They are pretty cool. Does the WRX in your ID refer to a Subaru WRX? I am a car guy, so I just had to ask...........

Yep, I've got an '04 WRX. It will have to do until I can afford my new M3

[censusdata]

An old house in Lexington is something built before 1985.

There is a neat looking new development along Hays Blvd that has a more traditional look to it. It kind of reminds me off the Norton Commons thing in Louisville

[LEXpert]

If you do move here we have plenty of great country roads that would be a blast in either the WRX or the M3. I have 2 BMW's and one day I will also have an M3.

I guess I should say something that is on topic. The housing market here is pretty stable. We had a lot of houses on the market in 2006-2007. Inventory is getting back in balance with demand up to about $250,000. Over that amount, there are still too many houses for sale for the amount of buyers that are out there.

Lexington doesn't really have any true suburbs. Most of the houses inside New Circle Rd. are from the 1960's and earlier. Between New Circle and Man-O-War Blvd you get 1960's to 1980's. Outside Man-O-War is a little bit of every period. There are several neighborhoods that WERE out in the country when they were built, but now aren't that far out. Outside MOW and the outer northen parts of town have the most newer construction. This is kind of a basic overview of development in Lexington, so there are exceptions.

FYI: The new condos downtown rent for MUCH cheaper than you can buy one. As long as there is more supply than demand, they will continue to do so. I always worry about resale value of a real trendy condo. I always think the 1st owner pays a premium. 5-10 years out many of those lofts are going to be out of style. Loft buyers are all about the current trend. Once the trend moves you have an outdated condo.

Lexington economy? It usually does better than average. We have several big employers, so we aren't that closely tied to just one industry. Also, many people from the areas around Lexington come here for shopping and entertainment. All the growth is going northeast. You may want to look into establishing your practice in that area. The interstate is in that part of town, so you could attract clients from Richmond or Winchester.

[blossom4792]

Originally Posted by wrx04

Wow...thanks for the responses. Sounds like pretty good news so far. I would love to get some contact info from you guys, so if you get a chance, that would be awesome. My ideal situation would be to buy out an existing practice, so if you know anyone who is even close to retirement I would really appreciate the heads up.

Other than that, how about the housing situation? Are most of the houses in the suburbs new construction or are they older models? And how about those new lofts right downtown...has anyone been in those? They look pretty cool, but it's kinda hard to tell from the limited pics on the web. Thanks again.

Sure, would be happy to help with the networking, etc. (just send me a dm). Re housing ... do you like newer or older homes? If you are interested in the lofts, I'm guessing you like new stuff. There are new homes and condos out here in the (ahem) outer areas resembling suburbs. My part of town (down Harrodsburg) just seems a little bit sedate for someone really young. I'd focus on downtown/near university/or Andover, depending on your tastes and interests.