Friday, January 31, 2014

Radcliff Sales History 2013

I had an interesting conversation with our city's planning and zoning coordinator today.  We talked about several thing which ranged from building practices, to what makes a subdivision tick.  After I got back to the office, I thought I'd take a look at what has been going on in Radcliff for the past year.  Surprisingly I noticed a couple of things.

As many of you know, Radcliff had two major events as far as our economy goes this year: government furlough and the shutdown.  The furlough which started in the March time frame signaled a decline in values until summer, which is normally a strong time of the year for real estate.  The second was the government shutdown which started in October.  The market usually starts to slow down during this time of year because of the holidays, but a $20,000 drop?  During this time, I had several conversations with folks who were employed on Ft. Knox, and several of them said they had to get a second job, or leave the government sector to find jobs that paid what they were used to.  Some families had a reduction of income by 20-40% depending on how many of the adults where employed by the government.

Fortunately there is a silver lining.  Even though we had a reduction in income for many of us, the market remained flat overall.  We could have seen double digit depreciation across the board, but we did not.  On another good note, there is an expected increase in building permits in 2014 in addition to a new factory in Etown that will bring 75 new jobs to the area.

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