Lexington Ky Neighborhood Video Tour by The LEXpert: Beaumont

 

Man it felt good to get out with the video camera and tour a neighborhood again!  I went to one of my fave places in town…..a neighborhood called Beaumont.  Really there are several different Beaumonts all clustered together:  Beaumont Enclave, Beaumont Meadows, Beaumont Crossing, Beaumont Reserve, Beaumont sanctuary, and Beaumont Farms.  Like all neighborhoods with sub-neighborhoods, it is commonly referred to as one name, which in this case is Beaumont.

Beaumont really is about the best mix of all the positives anybody could want in a suburban environment.  Within the neighborhood are 2 city parks, an elementary school, a YMCA, post office, restaurants, retail, dining, banks, a grocery store, and a gas station.  Plus the high school is just across the road from the rear entrance.

Check out the video, but here are some things to know:

The schools:  Rosa Parks Elementary, Beaumont Middle, and Dunbar High.  That is about the best, most well-rounded mix of schools you can get.

The Prices:  I have seen a few of the older, or plainer, or foreclosed ones go for as low as the upper $300’s.  The value of some of the nicest ones are nearly $2 million.  Most seem to be in the $350-550k range.  There are a few ranches out there on slabs or crawlspaces that can be had for $260-300k too, plus an apartment complex and townhouses in the front part of the neighborhood.  You also have one little section called Beaumont Enclave that has more normal houses in the $190-235k range.

What is to like beyond this?  Well, I think this area is a good investment.  Houses sell pretty quickly when priced right out there.  It really has all the pluses but none of the negatives.  I think it is one of the safer places to sink that kind of money in Lexington.  It attracts a lot of out-of-town buyers, so there is always a lot of demand.

Now…..not that I am plugging myself here, but you really need somebody who knows this neighborhood if you want to prevent yourself from paying too much money for a house.  Prices are all over the board.  I had a client pay $387k for the exact same model that I have seen sell for almost $500k…..and no, the time of the sales were close and the houses had similar finishes.   In fact, less than a year later the house next door to him that didn’t have a finished basement but did have about $20k more in kitchen upgrades went for $527k the first day on the market.  How does this happen?  Heck, I don’t know for sure, but I do have a few theories:  1)  The buyer’s agents aren’t or don’t know how to read the comps out there.  2)  Listing agents that don’t do enough work out there either over or under price the house….which seems not to matter sometimes and feeds into the next theory.  3)  Since it attracts a lot of out-of-town buyers moving here for work, I think they blow into town, have only a few days to pick a house, and don’t see enough to really compare houses, so they assume the asking price is realistic.  3)  I also think smart sellers out there know they may catch somebody who will over pay.  Who knows?  All I know is that I am always amazed.

I had a good time shooting this and hope it finds its way to somebody that will find it useful!!

~John

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