I just read a couple of articles from yesterday’s Courier-Journal, both directed towards Louisville real estate. On the one hand, the Fed cutting the prime rate makes borrowing more affordable. This should translate into greater investment activity—in particular, housing investments.
This spurs optimism in the local housing market.
“If you have property you are purchasing or you’re looking to refinance, go ahead and do it. Don’t wait,” Evans said. “Now is a great time to refinance based on where the market and interest rates are today. It might go down some more, but it very quickly could change and go the other direction, too.”
Others aren’t as enthusiastic.
“A lot of builders are sitting on property, and sitting on homes,” said John Hughes, a developer of the Quarry Bluff subdivision in Utica, Ind. “They’ve really cut back, and it’s not very good right now.”
What might not be good for builders can certainly good for prospective buyers. Can you say, “Deal!”? There are some amazing bargains to be had by those ready to buy a new home in Louisville today.