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Lexington KY Real Estate Blog

Keeneland

http://www.keeneland.com/calendar

Don't forget to check out Keeneland this Spring season!  April 7th  - 28th!  

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How real estate agents get paid?

Who knows how a Realtor gets paid?  I'm going to say most of the public is clueless on how this works.  Any suggestions before I start?  Agnets are loyal to their client, should the client be loyal to their agent?

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Sold!

Coba Closes doors in Lexington

http://www.lex18.com/story/31817885/coba-cocina-closes-its-doors

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Old homes

Did you know double hung windows were used years ago?  The reasoning, during the day, the top sash could be let down to let the hot air outside.

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Plan, Prep and Get After It!

Plan, Prep & Get After It!

by J'aime Nowak | Buffini & Company Director of Corporate Development and Training

With each and every day, you have a fresh opportunity to start—or continue the momentum of—your best year yet. Just take a moment to imagine the next 12 months as a blank slate to be filled with your goals, aspirations and endless possibilities. This mindset doesn’t have to be tied to New Year’s resolutions; truly, it can fuel your success all year long.

Now, to really harness this phenomenon, I’m going to share three key practices that will help you create your very best year. Although they are simple in theory, they are not common in practice. If you want success, happiness and fulfillment you’re going to have to plan, prepare and get after it.

1. Plan for it

Make your next calendar year everything it can be. Start by taking a look at where you are now. Are your goals the same as last year? Or have they changed? Don’t get stuck in a rut. Out with the old…if necessary. Shake up the status quo. Close your eyes, stifle any negative thoughts or...

Fun in Lexington

Slide The City Coming To Lexington

By , Published Jan 22, 2015 - Tagged in Summertime FunThings To Do

The gigantic 1,000 foot slip-and-slide is said to be coming to the streets of Lexington! While dates and location are still TBD, Lexington has been added to the expected locations of Slide the City- a summer event you definitely won't want to miss.

 

What better way to spend a summer day than sliding down a 1,000 foot slip-and-slide?! If you're like me and can't quite picture how long that is, it's the size of THREE FOOTBALL FIELDS! Very exciting. If you haven’t heard about Slide The City, it's a family friendly water party event with live music, food, water fights, and of course, the mecca of slip-and-slides.

Bring your floatie, plus come well equipped for a huge water fight that is bound to ensue! With tickets, you get a water gun, but also come armed with water balloons, super soakers, or anything else that can help you defend yourself and get others soaking wet! You can attend the event for free, but need tickets to ride the slide.

Coming to Lexington- Dates TBD

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FHA Mortgage Insurance

What’s up with mortgage rates? Jeff Lazerson of Mortgage Grader in Laguna Niguel gives us his take.

RATE NEWS SUMMARY

From Freddie Mac’s weekly survey: The 30-year fixed rate dropped nicely, again, to 3.63 percent from last week’s 3.66 percent. The 15-year fixed dropped to 2.93 percent from last week’s 2.98 percent.

The Mortgage Bankers Association reports a 14 percent increase in loan applications from the previous week with a 57 percent spike in Federal Housing Administration refinance volume contributing.

BOTTOM LINE: A year ago, 30-year fixed mortgage rates averaged 4.39 percent. Assuming a borrower gets the typical 30-year conforming fixed rate on a $417,000 loan, last year’s of $2,085 was $183 more than this week’s payment of $1,902.

WHAT I SEE: From rate sheets hitting my desk that are not part of Freddie Mac’s survey: Locally, FHA buyers and refinancers can get zero points loans on a 30-year fixed at 3.25 percent or a 5/1 FHA adjustable-rate mortgage (fixed for five years and adjusting yearly thereafter) at 2.875 percent. Or, take the FHA jumbo fixed ($417,001 to $625,500 for O.C. borrowers) at 3.375 percent or the 5/1 ARM at 2.875 percent.

WHAT I THINK: Starting Monday, annual mortgage insurance will drop one-half percent on all new FHA loans. This applies to purchase, cash-out and streamlined refinances. Serious savings is in play for you.

The formula for the old annual FHA mortgage insurance premium was loan amount x 1.35 percent divided by 12 (months). The new formula is loan amount x .85 percent divided by 12.

The FHA still requires the one-time upfront mortgage insurance premium of 1.75 percent added to your loan balance.

And, piling on, the maximum 30-day prepayment penalty provision when paying off an FHA loan is gone for good. Until recently, FHA-approved lenders could...

Plumber in Lexington

Looking for an awesome plumber in the Lexington/Nicholasville area?  Tim's Plumbing is who I've used for years and have referred to many many clients.  Tim's contact number is 859-533-1294.

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Flip or Hold 2015

Your Best Real Estate Move: Flip or Hold in 2015?

Flip or HoldAlamyHome sales are projected to increase next year, which could work to the advantage of investors.

By Joel Cone

So which strategies are best for real estate investors next year?

The Big Picture for 2015

Looking at the nation's housing and economic indicators, there is plenty of positive news to justify continued investor optimism in 2015. Home sales –- both existing and new -- are projected to increase next year, which is welcome news for fix-and-flip investors.

At the 2014 Realtors Conference & Expo, Lawrence Yun, chief economist for the National Association of Realtors, predicted a rebound for existing home sales for the next two years and projected the national median existing-home price will rise at a moderate 4 percent in each of those years. On the new home front, David Crowe, chief economist for the National Association of Home Builders, said in an October webinar that multi-family housing starts were projected to hold steady in 2015.

"Multi-family housing starts have rebounded back to normal since the downturn, mostly due to the strong demand for renting," said Yun, who also noted that renter households have increased by 4 million since 2010, while homeowner households have decreased by 1 million.

Two major concerns remain: tight lending standards, which continue to keep people who could otherwise afford to buy a home from qualifying for a loan, and ...

Real Estate up in 2015!

Why Real Estate Could Soar in 2015

Following double-digit gains in 2012 and 2013, U.S. home prices grew at a much slower pace in 2014, with the average home increasing in value by less than 3%.

Case-Shiller Home Price Index: Composite 20 Chart

So what's in store for 2015? While it's impossible to know for sure what the future will hold, there are a few good reasons to believe 2015 could be an excellent year for real estate.

It's getting expensive to be a renter
According to a report from Zillow, U.S. renters paid almost 5% more rent in 2014 than in 2013. Some areas of the country saw much sharper rent increases. For example, San Francisco saw its average rent rise by 14% in the past year. And because home prices rose by less than 3% in 2014, it's fair to say that rent is getting expensive faster than home ownership is.

As rent increases, it simply makes more sense to buy a home. With home prices stabilizing in 2014 and rent continuing to rise at twice the rate of income growth, we could see a lot of people decide that homeownership...

Achieve new goals

Everyone has off days. Off weeks. It happens for many reasons. But a common cause is that we’ve chosen goals that don’t really motivate us. The problem with a goal that doesn't motivate us, is finding the discipline to follow through on it. It’s like going to the gym; there are days you want to go and days you don't. But often the days we go and  don’t want to go seem to work out the best. Discipline carries us through. That can be an unsustainable approach, however. Rather than replying on discipline, goals that are aligned with what you really want are easier to stick to, and get you fired up all by themselves!

 If some your goals aren’t quite the "light your fire" type of goals go back and answer these questions:

  • What do I value?

  • What do I enjoy?

  • What do I want most?

    • What do I want my legacy to be?

    Find out what really matters to you. Make a list of your answers, then write your goals based on what you come up with. The key goal is to find your inner determination....

    Tips to Save Energy and Add Value

    When it comes to energy efficiency, look for smart features and expertise to help you save energy and money and add value to your home.

    1. Begin with a Right-Sized Home.

    If the home you buy is simply too large for you or your family’s needs or plans, you stand a good chance of wasting energy through excessive heating and cooling costs. If it’s too small, you’ll feel cramped and uncomfortable. It’s a big investment, so seek balance and buy it “right” from the outset. 

    2. Purchase Energy Star Appliances Such as Your TV, Dishwasher, Washer and Dryer, and Microwave.

    And especially the refrigerator, as it alone contributes about 10 percent of the energy use in a home. Also, unplug electronics not in use or turn off power strips to avoid phantom charges. 

    3. Install Efficient Lighting Such as Compact Flourescent (CLF) or LED Bulbs in Every Fixture.

    Lighting accounts for about 6 percent of an energy bill each year.

    4. Get an Energy Audit and Have Tests Performed to Identify Ways of Improving Your Efficiency.

    You can always upgrade your heating, ventilation, and air conditioning (HVAC) system as well as your thermal envelope, which includes insulation, windows, and doors  and the seals or weather stripping around them. Visit energy.gov/energytips for more tips.

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