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.
I have been reading a lot of the postings on the forum regarding subdivisions in Lexington. I will be moving to Lexington in the next couple of days and have been looking at houses for the past month. The plan was to rent but then the rates fell through the floor changing the game. I need to know where people want to live, specifically the neighborhoods.
Is it wise to buy right now in Lexington? Is their a decline being experienced currently or is the storm brewing. I am having a difficult time getting an accurate pulse on the market. We're looking at houses between 250 and 300k. We've been in all of the subdivisions and are most concerned about resale. We don't have kids but because we are concerned about resale we are concerned about the highschools. I don't like rushing out and buying but I'm locked in at a criminally low rate. We liked Andover and Beaumount a lot but the houses we really like are currently priced out of reach.
We have also seen a lot in Waterford. What's the story with this area? Is it declining? My gut is throwing a flag on the neighborhood but I need to bounce it off the residents. Is Waterford a risk?
I believe Waterford is in the Tates Creek district. The people I know that live in that subdivision all send their kids to private school. In my opinion that would be detrimental to resale value.
Have you looked at Stonewall subdivision? Do you have a realtor that you're working with?
i happen to like tates creek area and I dont live that far from it . but in my opinion anything south of man o war is nice . to me the south side of lexington is nicer than anywhere else and that puts you real close to hamburg pavillion which is a really nice shopping area and you really dont need to go to the mall because hamburg pavillion has practically everything you need . but I would say masterstation out off of leestown rd is a nice area but a little further from shopping areas . I would say you most likely have to look around and choose for yourself . But I find lexington to be nice and charming and a place where folks actually say excuse me and thank you . i love it . do you have a realtor you are working with ? If not I do know of one and he is very kind and nice and very considerate . If you would like his name and number then please by all means pm me and I will give it to you .
Are the schools that bad? It looks like a pretty neighborhood. This is a corp relo I'm working with a good realtor now but want to make sure we make the right decision. Normally I would rent but I got locked in at 4.625%, which I'm proud of. So you think Waterford would be a bad decision? Has Tates Creek High been known a less desirable school?
Thanks for the feedback regarding Tates Creek. I've been going on house hunting trips for the past month and we found a place in Waterford but my gut is telling me to be very cautious. We've never lived in a house for more than 2 years so we're concerned that if we ge relocated again we might have a problem selling a house in Waterford. What's the talk on the town? Do people want to live their?
TC has not been a "good" school or one that people would intentionally choose a neighborhood for. However, they have started an IB program and are trying to ratchet up their academics. It likely will take a while for them to see any benefit. If you can find a similar house in an area that feeds into Dunbar or Henry Clay you will fare better.
In that price range, I would look at Dogwood Trace (zip 40514), Copperfield (zip 40514), and maybe something like Wyndham Hills (40503?) and Stonewall is definitely a great suggestion but it sounds like you like the newer homes, also Rabbit Run (40503/40514). I would avoid Waterford and probably Andover as well. All of the neighborhoods I've mentioned should get you into good elementary, middle, and high schools. There are some older neighborhoods that would work (Glendover), but it sounds like you like the newer neighborhoods. The prices as far as I can tell seem fairly stable, especially if you are in a good school district. I bought in 2007 and houses all around me (comparables) are selling for 60K more than I paid, but I bid low.
I had a neighbor who tried for a very verrrrry long time to sell her Waterford home for a reasonable price. At the time I left Lexington, she still hadn't gotten it sold after a year, and that was before the market tanked. It is a neighborhood with selling challenges, for sure. It could be that the Tates Creek school district is responsible. If you only plan to live there a short time, I'd avoid it big time. For a long term purchase, you might be able to get a bargain and enjoy it for a long time, especially if you don't need the schools.
Bottom line: I agree with blossom4792's suggestions.
Waterford is a very nice area. Everybody here is focusing on the high school, but fogetting that Waterford is very popular with families since the elementary school is Veteran's Park. There will always be people with young families that will want this area.
As for the market, we are pretty stable here. The prices have been pretty flat since 2006. the $200-@50k range is the 2nd most popular price range in Lex. Over $300k is a little harder, but as long as there is a market, the best ones in any price range will sell. Just buy wise, maintain well, avoid the obvious like a busy street, an odd floor plan, pickled cabinets or really outdated stuff. The very sloped lots in Waterford may not be desirable for the young families that gravitate towards the neighborhood.
Thanks for all the replies the information is definitely helpful. I know the elemenatary school is good and that's about as far as my kids will likely see fayette county schools. Not that we won't like it it's inevitable that we relocate within 5 years. I have a vested interest in the high school because out of all of them that's the one you care about the most. Those are the families that want to buy just before their kids hit highschool. I am glad the lexpert chimed in because my wife was about to pull the plug. She found a house that she wants to get a contract on and all this talk made her clam up. I felt it was a good neighborhood when I visited but would definitely like to learn more about copperfield. Thnaks for all.
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 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.
