Louisville, Kentucky, known for being home to the famous Kentucky Derby, is located just an hour from both Cincinnati and Indianapolis.

Local real estate expert Bob Patton reports that the city has seen home buying drop this year -- down 22 percent from last year's figures. He also reports, however, that "the number of unsold single family homes and condo's for sale is over 10,200 for the Louisville area market (Jefferson County). This activity is "shaky news", means homes are selling "slower" and fewer homes are coming onto the market - that's good."

The conditions have brought about a very strong buyers market. And with interest rates still at near historical lows, this could be a prime time for investment opportunities in the housing sector of Louisville -- despite the ailing markets on Wall Street.