What neighborhood in Lexington? (Ashland, Harrodsburg: appointed, for sale, houses)

[movingfromminnesota]

My husband and I are moving to Lexington this summer and we are really stumped on where to live. We went house hunting for 4 days straight and didn't come up with a great option. Our realtor is great and he is on the case, but I'd love to hear feedback from others.

Husband works at UK, and I will be a piano teacher working from home so we want great schools. We really enjoy the older homes but only if they are renovated! : ) We also enjoy suburbia, which is where we live now. Our price range is mid $300,000s. Is the Southside the best? We looked at Beaumont, but were disappointed by our options in our price range. What about the Hamburg area? I want to be centrally located for students but we are having trouble finding a good house that isn't 4,000 square feet or too tiny with no storage.

We have really suffered a downturn up here in terms of prices - what's going on in Lexington? Should we wait longer to buy?

Thanks for any input!!

MovingfromMinnesota

[InLondon]

Check out West Wind at Hamburg or Andover which is also near Hamburg.

[timelesschild]

For proximity to UK and great schools, nice suburban homes in your price range, here is your word: Glendover. I'm serious, I don't see how you could do better.

It would be a good central location from which you could teach your piano, as well.

[Packersnut21]

My family lives in Hamburg, specifically Andover Forrest and doesn't really like it. The traffic is pretty bad and even worse during the holidays. Looking back we wished we would have picked a better place that had a yard for our daughter to run around in, there does not seem to be to many houses here that have decent backyards.

[Micah Girl]

I personally prefer SW Lexington to SE Lexington in terms of traffic, especially if you are commuting to UK. Much easier because Harrodsburg Road is so much faster than other options heading downtown.

What didn't you like about Beaumont? Why not check out a slightly older development such as Rabbit Run. At your price point I think you could find all sorts of great houses. It's also a very easy commute to UK from that neighborhood. The schools are good as well.

[LEXpert]

The Lex market is pretty strong compared to the rest of the country. In your price range, we have seen a little decline. Ofcourse, those are statistics. The reality is that the best houses in all prices ranges still sell for top dollar. It is the worn out, outdated ones that bring down the averages. I don't think it is going to get any worse in Lex. The surrounding counties took a hit, but that was mainly from last years gas prices. The people that were moving to those areas from Lexington are staying put.

Here is my opinion about the different areas: SW Lex (Clays Mill, Harrodsburg) seems to attract people who are most concerned about schools. There are good schools all over Lex, but that area has the most well rounded ones for elementary, middle & high. SE Lex (Tates Creek) seems to attract people that don't want to be too far from anywhere in Lex, but there isn't much that is really close. The main draw for schools in Veteran's Park Elementary. A lot of people buy in that district and move when their kids get older. That is why there are always so many houses for sale in Waterford. I'll call Hamburg NE Lex, but it really more just E Lex. That draw to that area seems to be about shopping/dining and being by the interstate if you need that. I live by Hamburg and totally love it.

Having studied the market and being active in it, I think the higher end suburbia type neighborhoods that have come through the storm the best are probably in SW Lex. I really think a lot of that has to do with the schools. Here is how it works: A buyer from outside of Lex gets a realtor. They tell the realtor that school district is very important to them. The realtor says "Oh, well, then we need to look in SW Lex." They buy out there. The more this happens, the better balance there is between the number of sellers and the number of buyers. Supply and demand is really what all the consumer needs to be concerned about. It is what keeps values up. Don't be concerned about the number of sales slowing down. That is what scares realtors! If there are 10 buyers and 10 sellers, it is the same as if you have 1000 buyers and 1000 sellers. But, guess what, all 10 or 100 of those buyers will want THE BEST house on the market.

So, here is my advice if you are concerned about the market: Buy the most well rounded house in a desirable location that does not have any real negatives. A house that doesn't really have anything special about it, but has no negatives will sell better than an awesome house with a couple of negatives. What negatives kill sales: Backing up to a road, having the houses behind you too close, an awkward lot, a small kitchen, small master bedroom closet, an odd floor plan. Pretty much just anything that causes you to say "If it weren't for____________, then it would be an awesome house."

[lexingtongal]

You can buy in Chevy Chase for in your price range. IMO-it is the best school district from start to finish. Cassidy, Morton then Henry Clay. That is one of the driving forces behind the popularity of the area. The other is that when you live in this area you really don't have to encounter traffic issues that others complain about. It's the inbound (a.m.) and outbound (p.m.) commuters that have traffic to contend with. Also it is one of the few areas in town that is very walkable. Ashland Park is too but you won't find much in under $400,000 there.

[Wing Feathers]

Originally Posted by movingfromminnesota

Our price range is mid $300,000s.

This is a joke, right???

You can afford almost any house in town Or out of town. A mansion & a horse farm perhaps?

[InLondon]

Originally Posted by drinkme

This is a joke, right???

You can afford almost any house in town Or out of town. A mansion & a horse farm perhaps?

Huh? $300,000 won't get you that much in Lexington, outside of Lexington yes. You certainly won't be getting a mansion anywhere at that price. Horse farms typically are millions of dollars, depending on size.

[Wing Feathers]

I guess "much" is a subjective term I can get 3,000 square feet *AND* a four car garage in Lexington for under $300,000. To me... that is luxury living!!!

But to tell the truth, I am happy with my $70,000 900 square feet. Less dusting/vacuuming, close to shops and my utility bills are very low (which will come in handy under Obama's new coal regulations which are going to raise our electric bills by at least 80%)