U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > U.S. Forums > Kentucky > Lexington area
 [Register]
Lexington area Fayette County
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
 
Old 01-23-2008, 04:52 AM
 
458 posts, read 2,154,941 times
Reputation: 105

Advertisements

The Fed has just lowered interest rates--good news for people buying homes.

The economy seems to be holding its own in Lexington.

Houses are sitting on the market for a bit longer than usual, but not forever.

We've just moved here and are in a wonderful rental situation that could extend for a while. We want to be wise in our timing of the market.

When would you buy a home in Lexington? ASAP? In the Spring? We are looking for more than just a starter home (4 BR on the main floor or on the top 2 levels with a finished basement for guests, ideally), a good school system, keeping it all under 200K. We figure this will be our best chance to get everything we want in a house and not have to trade up in a few years.

We are currently staying in the the Stonewall/Jessie Clark/Lafayette area and our neighbors are wonderful and they also love, love, love the schools here. Looking also at Garden Springs/Beaumont/Dunbar. Can't seem to afford a nice neighborhood feeding into Henry Clay with great feeder schools, too. There's lots available in other school systems, but I've been warned away from those. If I'm missing something, please let me know.

How about some friendly advice for a new Lexingtonian? We love the city and are very happy with our move. It will be even nicer once we know exactly where our permanent digs will be.

Quick reply to this message

 
Old 01-23-2008, 08:39 AM
 
Location: Lexington Ky
891 posts, read 2,803,915 times
Reputation: 519
Glad to hear things are going well for you! I have a few friends in the real estate business and they say that activity should pick up in the spring. However, if there is something on the market now that you like you won't have as much competition, and could get a better deal, than if you wait until more people are looking. There will probably be more houses listed in the spring too though. So, just keep your eyes open and if you see anything you're interested in go ahead and look at it.
Do you have a realtor you're working with? If not I know of several that I can personally recommend.
Quick reply to this message
 
Old 01-23-2008, 11:18 AM
 
458 posts, read 2,154,941 times
Reputation: 105
Quote:
Originally Posted by lexingtongal View Post
Glad to hear things are going well for you! I have a few friends in the real estate business and they say that activity should pick up in the spring. However, if there is something on the market now that you like you won't have as much competition, and could get a better deal, than if you wait until more people are looking. There will probably be more houses listed in the spring too though. So, just keep your eyes open and if you see anything you're interested in go ahead and look at it.
Do you have a realtor you're working with? If not I know of several that I can personally recommend.
We are keeping our eye on what is on the market, but still feel like newbies and also haven't seen the "perfect" property yet.

I have email contact with several realtors, but we don't yet have one that we have an agreement with.

I'd be happy to hear who you recommend via PM.

Thanks!
Quick reply to this message
 
Old 01-23-2008, 04:55 PM
 
Location: Beautiful Kentucky
820 posts, read 2,642,638 times
Reputation: 557
To stay in the stonewall district will limit you a bit more. My kids went all the way through Stonewall, so I'm not trying to discourage that. IMO, there's not another elementary like it in Fayette Co.

However, if you're flexible in the elementary dept, you could stay with Jessie Clark and Lafayette by going in towards town with some older neighborhoods off of Claysmill which would put you in Claysmill elementary which is a good elementary as well.

You could also go outside Man O'War into Boston Rd area to get more housing options in your price range and the elementary school is Picadome with JC and Lafayette remaining for middle and high schools. Look in the back of that subdivision as well as some of the newer homes in the Winthrop area - not Mill Pond which will put you over your desired price range.

Now inside Man O'war in the Boston Road area, you might have a difficult time finding what you're wanting for $200,000, but I wouldn't rule it out.

One of the interesting things about this area with about a 5 mile radius is the variety of homes. You have homes ranging from ranch style beginner homes to very large homes. You have older homes combined with newer construction. I think you'll be able to find a fit and do suspect that there will be many more available come spring. This area is made up of mostly families who wait on that inbetween school year to move.

Henry Clay is high school for some areas out Richmond Rd that would be within your price range. The districts for the high schools cover so much more area than the elementary schools - that's where you might need to be more flexible. Henry Clay has numerous neighborhoods that feed into it - like all the high schools.
Quick reply to this message
 
Old 01-24-2008, 06:29 AM
 
458 posts, read 2,154,941 times
Reputation: 105
Quote:
Originally Posted by bluegrassgirl View Post
To stay in the stonewall district will limit you a bit more. My kids went all the way through Stonewall, so I'm not trying to discourage that. IMO, there's not another elementary like it in Fayette Co.

However, if you're flexible in the elementary dept, you could stay with Jessie Clark and Lafayette by going in towards town with some older neighborhoods off of Claysmill which would put you in Claysmill elementary which is a good elementary as well.

You could also go outside Man O'War into Boston Rd area to get more housing options in your price range and the elementary school is Picadome with JC and Lafayette remaining for middle and high schools. Look in the back of that subdivision as well as some of the newer homes in the Winthrop area - not Mill Pond which will put you over your desired price range.

Now inside Man O'war in the Boston Road area, you might have a difficult time finding what you're wanting for $200,000, but I wouldn't rule it out.

One of the interesting things about this area with about a 5 mile radius is the variety of homes. You have homes ranging from ranch style beginner homes to very large homes. You have older homes combined with newer construction. I think you'll be able to find a fit and do suspect that there will be many more available come spring. This area is made up of mostly families who wait on that inbetween school year to move.

Henry Clay is high school for some areas out Richmond Rd that would be within your price range. The districts for the high schools cover so much more area than the elementary schools - that's where you might need to be more flexible. Henry Clay has numerous neighborhoods that feed into it - like all the high schools.
Thanks! Nice to hear someone else in love with Stonewall. We are thinking that Picadome or Clays Mill are all good schools as well, so that's flexible. My biggest concern is to make sure we have a good middle school because it seems they are harder to find. My neighbors really love Jessie Clark, too, even over Beaumont which is rated higher, but seems to have an overcrowding issue because of the growth in the area.

We also don't want to overlook another area just because we happened to land providentially in a nice neighborhood. Lexington is bigger than this one neighborhood.

Is there a distinct disadvantage to being outside Man O War? I know it's considered desirable to be inside (and even more so inside New Circle if you can afford it) but why? Convenience only? Status? It does seem we have some more options if we are outside Man O War as far as house...

I'm also thinking that once my kids get to that level if they have special areas of interests or giftedness they can test into one of the different magnet programs in the city so they have several options in addition to Lafayette, which seems to be a perfectly good school.

Anyway, it's nice to be in Lexington now as we start making these decisions. We are so happy with our choice so far.
Quick reply to this message
 
Old 01-24-2008, 06:38 AM
 
1,727 posts, read 1,530,738 times
Reputation: 388
Congratulations for making it here and welcome!

I think the 40514 zip code as a whole is a great idea ... Picadome has a really good reputation, as well as of course Stonewall, Clays Mill, and Garden Springs (and associated middle schools/high schools). Also of course the 40513 zip code.

In terms of timing, I think you're already in good shape with interest rates significantly lower than when I purchased 6 months ago. Of course, the really key thing is not price but monthly payment. It's just my instinct that prices in Lexington are staying fairly steady, but interest rates are on the decline, so you might be better off in a few more months.

The other thing is to look for situations where a listing is "below appraisal" or the seller is "motivated". If you found something like that, then I would vote that you act on it, rather than waiting too long on interest rates, since things would tend to even out at some point. That is to say that (a) lower interest rates will bring buyers into the market and (b) May/June is the prime time for real estate anyhow, so it could be more competitive for buyers.

Have to run, I promised myself I wouldn't get on c-d this AM!!!
Quick reply to this message
 
Old 01-24-2008, 08:41 AM
 
458 posts, read 2,154,941 times
Reputation: 105
Thanks! If you (or anyone) hears of anything like what we're looking for--please let me know:-)
Quick reply to this message
 
Old 01-24-2008, 03:59 PM
 
Location: Lexington Ky
891 posts, read 2,803,915 times
Reputation: 519
The closer into town you live the less traffic you have to contend with. Also, the further out you live the less likely you might be to come downtown. imo-downtown is what gives Lexington its personality. I don't know many people that live in the outlying areas that come enjoy Farmer's Market, the Fourth of July festivities, the Gallery Hop, the great restaurants, etc.
Quick reply to this message
 
Old 01-24-2008, 04:55 PM
 
Location: Beautiful Kentucky
820 posts, read 2,642,638 times
Reputation: 557
Quote:
Originally Posted by Micah Girl View Post
Is there a distinct disadvantage to being outside Man O War? I know it's considered desirable to be inside (and even more so inside New Circle if you can afford it) but why? Convenience only? Status? It does seem we have some more options if we are outside Man O War as far as house...
Absolutely no disadvantage to living outside Man O'War vs inside Man O'War. I live in the Boston Rd area and lived on the outside for many years (in the 40514). The homes are very similar to the other side of the rd (in the 40503) to where I live now. I simply made the move across Man O'War because my kids were in Stonewall and the area was being redistricted to Picadome. I had nothing against Picadome - it just wasn't "our" school where my kids knew folks and I knew folks, etc. Plus, I needed to move to a larger house anyway, so headed on across the road.

I think you're wise to consider many options. If Clays Mill is an option for you, I think there's some beautiful and well kept older homes off of Clays Mill Rd near the school. Some with quite a bit of charm and character.

I believe Middle Schools are the most lacking of all of the levels of schools in Fayette County. There a tremendous number of wonderful elementary schools. I also feel that each high school has some unique and distinct to offer. Middle school is a time of flux in general for youth - and more difficult to have in the structured environment of school - if that makes any sense. Out of the three levels my kids attended, Jessie Clark was my least favorite. With that said, I'm not sure there's one I would have liked better. Lafayette gets kids from Jessie Clark, Beaumont, and Morton - as well as magnet middles of course.
Quick reply to this message
 
Old 01-24-2008, 06:49 PM
 
458 posts, read 2,154,941 times
Reputation: 105
Quote:
Originally Posted by lexingtongal View Post
The closer into town you live the less traffic you have to contend with. Also, the further out you live the less likely you might be to come downtown. imo-downtown is what gives Lexington its personality. I don't know many people that live in the outlying areas that come enjoy Farmer's Market, the Fourth of July festivities, the Gallery Hop, the great restaurants, etc.
I do love the downtown area but have noticed how easy it would be to hardly venture down there, especially when it's cold!
Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Kentucky > Lexington area
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top