The Louisville Property Valuation Administrator’s office has been conducting a two-year study of home foreclosures. Spokesperson Donna Hunt says the county saw about 2000 foreclosures last year.
“And we’re plotting those, and we can tell you that, year to year, we can see the values going down where there are high concentrations of foreclosures. The rest of the county, a lot of it is just perception. A lot of buyers are just scared to get in the market right now,” says Hunt.
Hunt says property values in other parts of Jefferson County have mostly stayed flat. And although home sales are sluggish, she says Louisville has mostly escaped the rollercoaster markets found on the nation’s coasts.