Buying a home on the river in louisville (Prospect, Indian Hills: for sale, real estate)

[enofile]

In most cities, waterfront property is considered prime and it is sold at a premium price. I am about to purchase a home in Louisville and I am enamored with places on the Ohio River. I realize that flooding is a major issue and yet there are a ton of places for sale out of the flood plain for a very reasonable price. Is there another issue with river front property in Louisville? I am very interested in a house in a development in Prospect called Rivers Landing. There is another development that intrigues me called River Creek closer to the city. However, most of the folks I have questioned recommend places off of Brownsboro Road in sub-divisions called Indian Hills and one closer to Zorn off of Jarvis Lane. Since I am a transplant to Louisville I am not informed about real estate in the area. Any help you can provide would be appreciated. Thanks

[tigerlillydownunder]

Can anybody assist?

I myself am not that familiar with these subdivisions, although I've heard about Rivers Landing and Indian Hills. I think my mom knows a lady who lives in Rivers Landing..?? Will have to ask her next time I phone her. Have never heard of River Creek, but then again, I no longer live in Louisville.

My first thoughts on buying river front property is that you didn't used to be able to get flood insurance. Even in my stomping grounds (PRP, Southwest Louisville) my parents and grandparents couldn't get flood insurance and we were a good 5 miles (maybe more?) from the flood wall. Things may be different now.....

Good luck!

[johnsonkk]

The only question the OP asks if there is an issue with riverfront property in Louisville. Not sure if he's implying that land/homes are too low compared to other cities or not. Don't forget the riverside on the Indiana side; where there are some nice neighborhoods across from the areas along River road. Keep in mind that the Ohio isn't exactly the water playground like the Taylorsville and Nolin lakes.

As for riverfront prices, the most expensive will be just north of River road along hwy 42. As you continue into Oldham, the prices do drop all the way to Westport and after they, they plummet. I'm guess distances from Louisville.

Going the other direction (southwest of Louisville), properties along the river are very low priced. I'm guessing the coal plants (multiple) and the casino aren't that interesting to look at while on the dock. I love the Indiana side that rises hundreds of feet overlooking the Ohio river but the coal plants kinda ruin the view. Prevailing winds are from the SW so the smoke from the plants normally flows into town and away from the Indiana side.