2010 October | Milestone - Kentucky Houses

Georgetown Featured in Southern Living Magazine

October 29, 2010

By Judy Giannasio

17 Perfect Getaways - Georgetown homes

The October issue of Southern Living Magazine recognizes Georgetown, Kentucky as one of 17 top best small town getaways. Those of us who live here appreciate the small town feel of Georgetown, where you can slow down, sit a spell and enjoy southern hospitality. Here’s what Southern Living had to say about Georgetown.

Georgetown, Kentucky – Pick up some handmade Kentucky crafts at The Scott County Arts & Culture Center, then pick a winner during a fall Thoroughbred race at Keeneland in nearby Lexington.

It’s no wonder that buyers are eager to look at Georgetown homes!

With I-75 and I-64 running through Georgetown we are only minutes from the large cities of Lexington, Cincinnati and Louisville. Georgetown is known as the home of the Toyota Camry but also the Kentucky Horse Park, where the World Equestrian Games were held in October, 2010, is partially located in Scott County. Family owned shops and antique stores line downtown Main Street. Like they say the Scott County Arts & Cultural Center is a great place to pick up handmade Kentucky crafts.

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Featured Property: 1029 Applecross Dr, Lexington, KY

October 28, 2010

By Katie Rowan

This wonderful two story Featured Property is a four bedroom two and a half bath home located in the Glens At Greendale Village. We asked the listing agent, Gerald McCauley to answer some questions on why buyers should look at 1029 Applecross Dr.

1029 Applecross Dr

Can you describe the architectural style of the home?

The exterior of this Lexington home is a Craftsman Style and the decorative windows in the garage door give you natural light in the garage.

What distinctive features set this home apart?

The interior features a large kitchen with maple cabinets, an island with a bar, and a spacious dining area. This area is separated from a good size great room that includes vent less gas logs by a half wall that has a large arched opening for a very open feel while adding extra wall space for your furniture. The upper level of the house has four bedrooms with the laundry in the hallway between the bedrooms. The master bath features a garden tub.

1029 Applecross Dr

What makes the price of this home so great?

This home is two years old however it is like a new home because the home hasn’t been occupied plus the seller is providing a 2-10 Home Warranty. The warranty includes a ten year warranty on the structure.

What are the advantages of the location & neighborhood?

The home is located near Georgetown Road (US 25) with easy access to interstates 75 and 64, New Circle Road, and a short drive to Georgetown.

Should you have any questions, interest in setting up a showing or need additional information about 1029 Applecross Dr, Lexington, KY please don’t hesitate to ask Gerald McCauley at Milestone Realty Consultants.

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Important Lead Based Paint Information

October 27, 2010

By Becky Locknane

As of April 22, 2010, federal law requires contractors who disturb more than 6 square feet of interior space or more than 20 square feet of exterior space on a home that was built prior to 1978, to be certified and follow specific work practices to prevent lead contamination if the area disturbed in fact contains lead paint.

Louisville houses

A disturbance can be described as sanding, scraping, tearing out, pressure washing or anything that would create dust. The dust can be absorbed into the blood stream and/or the brain and can eventually get into your vital organs.

The new EPA rule allows owner occupants to perform work on their house without following the same specific work practices as a certified contractor would be required to follow. However, if the work is performed by a contractor, they must be EPA Certified.

If sellers do the work themselves, they take the risk of being held responsible for any damage the work of disturbing the lead based paint may have created. Therefore, sellers should be advised by their Realtor® to have the property tested for lead paint before any disturbance is begun. It is advisable to have the home tested before any estimates for repairs or replacements are given, as the outcome could affect the cost of the work to be done.

Realtors® should take precaution to educate their buyers or sellers whenever the transaction involves a home built prior to 1978. There are many Louisville houses that fall into this category, so be careful that everyone understands the new law.

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Housing Still Part of the Dream

October 22, 2010

By Mike Wheatley

Despite all the craziness in the real estate industry, a recent study
discovered that 8 in 10 Americans still view home ownership as an
important part of achieving the American Dream…read the entire
story here.

The American Dream of Home Ownership is Still Within Reach

Other insights from the study include that most people do believe that
now is a good time to buy, but the employment situation and frustration
with lending practices are 2 big obstacles to making the move.

This seems to coincide with what I see and hear daily in our local market…
people know it’s a great time to buy, but those fears and frustrations
are preventing them from taking the plunge. However, despite all of this,
our local MLS, (Lexington BLuegrass Association of Realtors, has sold and
closed nearly 1 BILLION dollars in Bluegrass homes this year.
Not too bad for a “down” market!

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Best of the Best Coming to Louisville!

October 20, 2010

By Becky Locknane

Another great reason to live in a Louisville house - The Breeder's Cup

Louisville’s historic Churchill Downs will host the Breeders Cup 2010 on November 5th & 6th. This will be the seventh time that the Breeders Cup World Championships have taken place at Churchill Downs.

This is Thoroughbred racing’s most prestigious global event and is the year-end Championships featuring the “best of the best”. The event consists of 14 races and a $25.5 million in purses.

Churchill Downs, which is the legendary home of the Kentucky Derby, has been the site of six of the seven largest crowds in Breeders’ Cup history. Visitors from all over the world attend but you can “bet” that Louisville attendees make up a huge portion of the crowd. Kentuckians love their horse racing!

I don’t know if many Louisville houses are sold as a result of the event, but we should seize the opportunity to market our beautiful city as being a great place to live!

This is not only wonderful for the track and the horse industry in Kentucky, but the business owners and the state and local governments will benefit from the economic boost this major international event will provide to Louisville and to the Sate of Kentucky.

If you can’t attend, the event will be televised on ESPN, ABC and to a worldwide audience of more than 120 countries.

For more information visit BreedersCup.com.

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Walden Mortgage Weekly Newsletter

October 19, 2010

By Walden Mortgage Group

Retail Sales Jump

The Commerce Department reported that Retail Sales jumped 0.6%. This was a much stronger reading that what analysts expected and was the best reading since December 2009.

This is important to the housing market because home demand is strongly tied to how the consumer feels about the economy. While there are numerous studies and surveys that attempt to monitor consumer sentiment, nothing gives us a clearer picture than their actual spending at retail stores. This pick up in consumer demand along with exceptionally low mortgage rates are both positives for the housing market.

What Happened to Rates Last Week

What Happened To Mortgage Rates Last Week

Mortgage backed securities (MBS) lost -57 basis points last week causing 30 year fixed rates to increase from the previous week. We actually lost -104 basis points from last Friday’s all-time highs to this Friday’s close. We had an action-packed and holiday-shortened week. MBS pricing eroded (causing mortgage rates to go up) on the very strong Retail Sales and relatively weak demand for the ten year and thirty year Treasury auctions.

What to Watch Out For This Week

The following are the major economic reports that will hit the market this week. They each have the ability to affect the pricing of Mortgage Backed Securities and therefore, interest rates for Government and Conventional mortgages. We will be watching these reports closely for you and let you know if there are any big surprises:

Date	ET	Release	For
18-Oct	9:00	Net Long-Term TIC Flows	Aug
18-Oct	9:15	Industrial Production	Sep
18-Oct	9:15	Capacity Utilization	Sep
18-Oct	10:00	NAHB Housing Market Index	Oct
19-Oct	8:30	Housing Starts	Sep
19-Oct	8:30	Building Permits	Sep
20-Oct	7:00	MBA Mortgage Applications	15-Oct
20-Oct	10:30	Crude Inventories	16-Oct
20-Oct	14:00	Fed’s Beige Book	Oct
21-Oct	8:30	Initial Claims	16-Oct
21-Oct	8:30	Continuing Claims	9-Oct
21-Oct	10:00	Leading Indicators	Sep
21-Oct	10:00	Philadelphia Fed	Oct

It’s extremely difficult to keep track of the economy and other factors that impact Kentucky mortgage and housing markets. We are happy to monitor the live trading of Mortgage Backed Securities for you. They are the only thing government and conventional mortgage rates are based upon.

Mike Dunn, Holleigh Sharp & Jeff Sharp

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Featured Property: 828 Aster Ct, Richmond, KY

October 18, 2010

By Katie Rowan

Today’s featured property is 828 Aster Ct in the lovely Hampton Ridge subdivision. The listing agent, Mary Layton, recently took the time answer some questions about why this home may be for you.

828 Aster Ct

What distinctive features set this home apart?

This wonderful Richmond property has a great open flow from living room to dining room and a spacious entryway. The large backyard is fenced and has been lovingly landscaped to make time on it’s back deck that much more enjoyable.

What makes the price if this home so great?

This home is in showing condition with tasteful colors throughout. The fixtures are up-to-date and remain with this house.

828 Aster Ct

Can you describe the architectural style of the home?

This is a Ball Homes Tremont plan. It has three bedrooms and two and a half baths with a large family room that features a wood burning fireplace for those cold winter nights. The large master bedroom also has a nice sized bathroom.

What are the advantages of the location & neighborhood?

This home is minutes from Outback Steakhouse, Gibson Bay recreational facility and Eastern Kentucky University. Would be a great home for a parent to buy for their student. Enjoy shopping at Kohl’s? Well it is about 1/2 mile from this house! Save-A-Lot is less than a half mile away and Kroger’s is about 1 mile away. Convenience is the name of the game with this home!

If you have any questions, would like to know more or would like to set up a showing for 828 Aster Ct Richmond KY, please contact Mary Layton.

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Featured Property: 3312 Drayton Pl – Lexington, KY

October 15, 2010

By Katie Rowan

Skip Hanson answered some questions for us about today’s Featured Property at 3312 Drayton Pl. This lovely two story home is located in Wellington.

3312 Drayton Pl

What distinctive features set this home apart?

This immaculate two story Antiqua Ball Home includes nine foot ceilings in wonderfully open floor plan. You will love the large master bedroom in this home along with the stately columns in the formal dining room. The backyard is flat and fenced and affords no direct view of the neighbor behind.

What are the advantages of the location & neighborhood?

The neighborhood is a focal point in Lexington for shopping and entertainment being located between Nicholasville Rd and Harrodsburg Rd. This Lexington homes’ prime location offers easy access to the many restaurants and stores of Fayette Mall, Lexington Green, Clays Mill Center and Beaumont Circle. Maneuvering most of Lexington will be a breeze with quick access to New Circle Rd. There are also many schools in close proximity and Jessie Clark Middle School is easily within walking distance.

3312 Drayton Pl

Have there been any recent renovations or upgrades?

This home has recently been totally repainted and shows like new. It also offers built in speakers in the living room for cozy nights beside the fireplace.

Is there anything else you’d like to tell us about the home?

If you are looking for a great floor plan in a quality community – you’ve found it!

If you are interested in 3312 Drayton Pl Lexington KY and have any questions or would like to set up a showing, please contact the listing agent Skip Hanson.

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Louisville Ball Homes Hosts 4th Annual Gold Key Club Breakfast

October 13, 2010

By Becky Locknane

Today in Louisville at “Wild Eggs” in the Westport Village, Ball Homes hosted the 4th Annual Gold Key Club Breakfast.

The Gold Key Club is for any real estate agent that sells Louisville houses and has sold at least one Ball Home in a year. The members of the Gold Key Club are provided a “gold key” that works on all the locks for all Ball Homes models and spec houses. This saves the member time so there is no hassle using the regular lock box keys.

At the breakfast, agents that have sold two or more Ball Homes are eligible to win CASH prizes. Their name is entered in the drawing once for every Ball Home they have sold. So, the more they have sold, the more chances they have to win!

Ball Homes & Milestone Realty Consultants, Gold Key Club Breakfast Attendees (Becky Locknane, Krista Wilson, Bob White and Judy Craft)

This years winners are as follows:
• Marilyn Cleland of Remax and Associates- $100 door prize
• Marilyn Cleland of Remax and Associates- $100 Gold Key Club prize
• Brenda Doll of Keller Williams Realty East- $100 Gold Key Club prize
• Julie Davis of Semonin Realtors- $100 Gold Key Club prize
• Melissa Lapinski of Semonin Realtors- $100 Gold Key Club prize
• Bob Sokoler of Remax Properties East- $500 Gold Key Club prize
• Heidi Fore of Keller Williams Realty East- $500 Gold Key Club prize
• Bill Tindall of Prudential Parks & Weisberg- $2500 GRAND PRIZE!!!!

There were over 45 Louisville Realtors in attendance at the breakfast as well as representatives from Ball Homes and Walden Mortgage.

Ball Homes is offering 100% closing costs and prepaids for buyers that sign a new contract before the end of business on October 31, 2010. Be sure to see our new floor plans and new lots.

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Walden Mortgage Weekly Newsletter

October 12, 2010

By Walden Mortgage Group

Pending Home Sales Rise

What Happened To Mortgage Rates Last Week

On the heels of the prior week’s surprise monthly gain of 7.6% in Existing Home Sales, The National Association of Realtors® reported last week that Pending Home Sales also increased.

The number of people who signed contracts to buy homes rose 4.3% in August, it was the second straight month of increases. Typically it could take up to 2 months for those newly signed contracts to turn into closed deals. The unexpected increase was driven mainly by big gains in the South (up 7%), the West (up 6%), and in the Midwest (up 2%). Pending Home Sales fell 3% in the Northeast.

While this data is low by longer-term historical standards, this report along with other recent housing reports are showing some pickup in housing demand over the last two months.

What Happened to Rates Last Week

Mortgage backed securities (MBS) gained +62 basis points last week causing 30 year fixed rates to decrease from the previous week. We actually reached a new record low for thirty year fixed rates on Friday but then pulled back from those levels. MBS shot up to record levels on Friday just after the Unemployment report was released. While the Unemployment rate remained unchanged at 9.6%, the market was very disappointed with the very small gain in the Non-Farm Private Sector area. Investors feel that this weakness will spur the Federal Reserve to begin another round of quantitative easing which would temporarily lower rates. At this point it is purely speculation as the Federal Reserve has not definitively stated what they are willing to do and in what increments.

What to Watch Out For This Week

Date	ET	Release	For
12-Oct	14:00	Minutes of FOMC Meeting	21-Sep
13-Oct	7:00	MBA Mortgage Applications	8-Oct
13-Oct	8:30	Export Prices ex-ag.	Sep
13-Oct	8:30	Import Prices ex-oil	Sep
13-Oct	10:30	Crude Inventories	9-Oct
13-Oct	14:00	Treasury Budget	Sep
14-Oct	8:30	Initial Claims	9-Oct
14-Oct	8:30	Continuing Claims	2-Oct
14-Oct	8:30	PPI	Sep
14-Oct	8:30	Core PPI	Sep
14-Oct	8:30	Trade Balance	Aug
15-Oct	8:30	CPI	Sep
15-Oct	8:30	Core CPI	Sep
15-Oct	8:30	Retail Sales	Sep
15-Oct	8:30	Retail Sales ex-auto	Sep
15-Oct	8:30	NY Fed – Empire Manufacturing Survey	Oct
15-Oct	9:55	Mich Sentiment	Oct
15-Oct	10:00	Business Inventories	Aug

Mike Dunn, Holleigh Sharp & Jeff Sharp

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