2011 March | Milestone - Kentucky Houses

Featured Property – 100 South Broadway, Georgetown, KY 40324

March 30, 2011

By John Day

For a change of pace today we’ve got a featured commercial property for the first time ever. 100 South Broadway is located in Georgetown, Kentucky and is currently listed with Christie Robinson. She let us know why this office/apartment combo might be for you.

100 South Broadway

What distinct features set this property apart?

Located one block from the heart of the Georgetown business district, this Georgetown property is a stand-alone building that provides access to the side and back of the building unlike ajoined buildings found in downtown districts.

Describe the architectural style of the building.

This all brick 90+ year old building is in excellent shape and features an office layout on the first floor with a half bath and a sweet apartment design on the second floor, including a very nice kitchen and full bath.

100 South Broadway

What are the advantages of the location and neighborhood?

This business location is within walking distance of the courthouse, banks, restaurants, law offices, churches and various other businesses; it is very downtown!

Have there been any recent renovations or upgrades?

The current owner has taken good care of the property. All new windows were added in 2006, the exterior of the building was painted several years ago and a new roof was put on in March of 2011. The kitchen was updated about 6 years ago. A new fuel efficient furnace was installed in 2009.

What makes the price so great?

This approximately 2000 square foot office/apartment building is priced right! Additionally a buyer can easily convert the lower offices and/or the 2nd floor apartment to income producing which would more than off-set the cost of the investment.

Is there anything else about this property?

This is not a drive by, It only has to be seen on the inside to appreciate its quality fit-up and space layout. The second floor apartment is especially nice.

If you’d like a private showing of 100 South Broadway, Georgetown, KY 40324 or if you have any additional questions, please contact listing agent Christie Robinson in our Georgetown office.

Comments (0)

Featured Property – 374 Duke Rd, Lexington, KY 40502

March 28, 2011

By John Day

Today’s featured property is a wonderful home located at 374 Duke Rd. Listing agent Christie Robinson gave us some additional details about this lovely townhome in the Chevy Chase subdivision.

374 Duke Rd

What distinctive features set this home apart?

Location, location, location! This townhome is located 1.5 miles from UK and one block from grocery, drug store, restaurants, dry cleaning, ice cream, deli, across the street from the post office and a city park within three blocks, not to mention close proximity to churches and schools.

Have there been any recent renovations or upgrades?

This Lexington home has an upgraded bright kitchen with a gas range, custom cabinetry, six panel doors throughout the home, crown molding in every room, and custom wooden plantation blinds with a freshly painted upstairs foyer and rooms.

374 Duke Rd

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

There is a lot of natural light throughout the home with lots of windows. Additionally, it has a very large basement with industrial lighting and built in shelving lending to crafts, hobbies, woodworking or other projects. The house has a very comfortable feel and is in move in condition.

What are the advantages of the location and neighborhood?

Darling townhouse in the heart of Chevy Chase! This quaint 2 bedroom should not be missed with easy access to downtown, Chevy Chase establishments and University of Kentucky as well as walking distance to UK football games.

If you’d like to know more about 374 Duke Rd, Lexington, KY 40502 or would like to set up a showing, please contact Christie Robinson at Milestone Realty Consultants.

Comments (0)

Walden Mortgage Weekly Newsletter: The Housing Market Update

By Walden Mortgage Group

Survey: U.S. Economy Over the Worst

In another sign the American economy is on the comeback trail, a new survey from KPMG shows optimism is improving among U.S. manufacturing and service industry executives. Executives in both key sectors say the worst is behind us.

The survey shows 68 percent of manufacturing executives believe business activity will be higher in the next 12 months. That’s up from 57 percent in October.

Forty-one percent of those same executives say they plan to hire more in the weeks and months ahead. That number was just 28 percent five months ago.

As far as revenue is concerned, 65 percent of manufacturers surveyed by KPMG expect revenues to rise in the next year.

This is of course, more good news for the housing sector. As employment levels increase, so does demand for housing.

What Happened to Rates Last Week

Kentucky Mortgage - What Happened To Rates Last Week

Mortgage backed securities (MBS) lost -65 basis points from Monday’s open to Friday’s close which helped to move mortgage rates upward. Mortgage Backed Securities (and mortgage rates) moved back into a more reasonable level after the Treasury Department announced that they would begin the process of selling their vast $1.25 trillion MBS portfolio into the open market. Also, fears over Japan started to wane in the financial sectors which helped to remove a “fear factor” premium in MBS.

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
28-Mar	8:30	Personal Income	Feb
28-Mar	8:30	Personal Spending	Feb
28-Mar	8:30	PCE Prices – Core	Feb
28-Mar	10:00	Pending Home Sales	Jan
29-Mar	9:00	Case-Shiller 20-city Index	Jan
29-Mar	10:00	Consumer Confidence	Mar
30-Mar	7:00	MBA Mortgage Index	25-Mar
30-Mar	7:30	Challenger Job Cuts	Mar
30-Mar	8:15	ADP Employment Change	Mar
30-Mar	10:30	Crude Inventories	26-Mar
31-Mar	8:30	Initial Claims	26-Mar
31-Mar	8:30	Continuing Claims	19-Mar
31-Mar	9:45	Chicago PMI	Mar
31-Mar	10:00	Factory Orders	Feb
1-Apr	8:30	Nonfarm Payrolls	Mar
1-Apr	8:30	Nonfarm Private Payrolls	Mar
1-Apr	8:30	Unemployment Rate	Mar
1-Apr	8:30	Hourly Earnings	Mar
1-Apr	8:30	Average Workweek	Mar
1-Apr	10:00	ISM Index	Mar
1-Apr	10:00	Construction Spending	Feb
1-Apr	15:00	Auto Sales	Apr
1-Apr	15:00	Truck Sales	Apr

Mortgage Back Securities are the only thing government and conventional mortgage rates are based upon. That is why we are happy to monitor the live trading of these for you as it’s extremely difficult to keep track of the economy and other factors that impact Kentucky mortgage and housing markets.

Mike Dunn, Holleigh Sharp & Jeff Sharp

Comments (0)

Building Louisville Houses, Relationships and Communities One By One

March 21, 2011

By Sherry Spanyer

I had the opportunity to visit the corner of 41st and Market Street to see the Fuller Center for Housing in action today. They came in one by one, tired, hungry and all smiles. There were kids of all ages taking their Spring Break and giving our fine City something to smile about. There were also many adults visiting for the sole purpose of helping us build Louisville houses. I was there as part of our local chapter for Women’s Council of Realtors to sponsor their lunch. This however, is only part of the story.

Fuller Project in Louisville

The real story is about the relationships that are built, the Community benefiting by the build and most importantly about Juanita and Caroline. I was amazed by the camaraderie between the workers. Most all are from different states and different backgrounds who come together to achieve something very wonderful. Mary from New Jersey, Tim from Minnesota, a couple from Florida and the many many others.

It was quite a joy walking down the sidewalk and seeing house after house being worked on. There was new vinyl, fresh paint, a new roof and then across the street, a brand new house was going up. The City of Louisville is a little brighter today because of all the work, rehab, and cleaning up of the area. Our Louisville houses are being blessed and our community is a little stronger.

Fuller Project in Louisville

And then there is Juanitta and Caroline. I met them both today at lunch. Caroline is getting a new home for her and her daughter and grandchildren. She smiled from ear to ear and praised God for her fortune. Juanita has the brand new house that is almost complete. She was an absolute delight. Both women were warm, inviting, and absolutely grateful.

I was honored to be a small part of something wonderful within our Community! I am sending good wishes to Juanita and Caroline, to Greater Louisville Women’s Council of Realtors and to all that participated in the Derby City Fuller House Build. I am certain Louisville is a better place because of you!

Comments (3)

Walden Mortgage Weekly Newsletter: The Housing Market Update

By Walden Mortgage Group

Vast Majority of Americans Favor Home Ownership

Despite a historic real-estate market upheaval that sent foreclosure rates skyrocketing and home values plummeting, Americans still have a deep attachment to homeownership. Furthermore, they consider homeownership an integral part of an American Dream in which they still believe, according to poll results announced today by The Allstate Corporation (NYSE: ALL) and National Journal.

The eighth quarterly Allstate-National Journal Heartland Monitor Poll revealed that nearly nine out of 10 homeowners say they would buy their homes again. That percentage held true even among homeowners who said their home values had declined. Seven of 10 Americans say they would advise a friend or family member to find a home as a long-term asset. However, while homeownership is perceived as a good personal decision, there is much greater uncertainty about whether expanding homeownership should be a government priority.

Although only 35% of respondents expect their personal financial situations to improve over the next year, three-fourths of those surveyed said it is still possible for people like them to achieve the American Dream, which the poll defined as the ability to advance as far as their talents will take them and live better than their parents did. A total of 59% said they currently are living the American Dream. Respondents identified owning your own home as one of the most critical parts of the American Dream, second only to raising a family.

What Happened to Rates Last Week

Kentucky Mortgage - What Happened To Rates Last Week

Mortgage backed securities (MBS) gained +53 basis points from Monday’s open to Friday’s close which helped to move mortgage rates down slightly. Mortgage Backed Securities shrugged off numerous economic reports that showed growth in the U.S. (which normally hurts mortgage rates) as international investors poured money in our system due to the continued global concern over the events in Japan.

What to Watch Out For This Week

Date	ET	Release	For
28-Mar	8:30	Personal Income	Feb
28-Mar	8:30	Personal Spending	Feb
28-Mar	8:30	PCE Prices – Core	Feb
28-Mar	10:00	Pending Home Sales	Jan
29-Mar	9:00	Case-Shiller 20-city Index	Jan
29-Mar	10:00	Consumer Confidence	Mar
30-Mar	7:00	MBA Mortgage Index	25-Mar
30-Mar	7:30	Challenger Job Cuts	Mar
30-Mar	8:15	ADP Employment Change	Mar
30-Mar	10:30	Crude Inventories	26-Mar
31-Mar	8:30	Initial Claims	26-Mar
31-Mar	8:30	Continuing Claims	19-Mar
31-Mar	9:45	Chicago PMI	Mar
31-Mar	10:00	Factory Orders	Feb
1-Apr	8:30	Nonfarm Payrolls	Mar
1-Apr	8:30	Nonfarm Private Payrolls	Mar
1-Apr	8:30	Unemployment Rate	Mar
1-Apr	8:30	Hourly Earnings	Mar
1-Apr	8:30	Average Workweek	Mar
1-Apr	10:00	ISM Index	Mar
1-Apr	10:00	Construction Spending	Feb
1-Apr	15:00	Auto Sales	Apr
1-Apr	15:00	Truck Sales	Apr

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

Mike Dunn, Holleigh Sharp & Jeff Sharp

Comments (0)

Central Kentucky Market Statistics: The Hangover Part 11

March 18, 2011

By Mike Wheatley

Welcome to the latest edition of The Hangover Series as we roll into our spring market in Central Kentucky. In the spirit of being optimistic, I think I’ll change the name of the series to the Recovery…this hangover has lasted long enough! Our official monthly market report has been released by the Lexington Bluegrass Association of Realtors, and here is my take on the numbers, what they mean, and where we are headed.

The three main categories I focus on are pending sales, total inventory numbers, and average sales price. Pending sales for the month of February came in at 518 representing an 11% increase over January numbers, representing 2 consecutive months of increased pending sales of Central Kentucky houses! Inventory numbers, while still very high, were basically stable from the previous month and just a little higher than the same month last year. We always see inventory levels rise throughout the year until around September, when they start dropping off again. Average sales price for the month was up about 7% from January 2011 and up about 6% from the same month last year. The average sales price figures continue to indicate we have reached a plateau of stability in our local market values. The ratio of final sales price vs. list price remained basically unchanged when compared to the previous month, and was down slightly when compared to the same month last year.

The bottom line story is the same as last month and will continue to be the same throughout this year: we still have way too many homes on the market but homes that are priced right and in great condition will sell, just not as quickly as we want. As we continue through the first quarter of the year, I will put less focus on the how this year’s numbers compare to last years’, as it isn’t a fair comparison. I want to focus instead on trends we are seeing in our current market.

Below is a summary of some of the key indicators for our local market:

Kentucky houses - Market Statistics

As always, my goal is to provide accurate, timely information on our local market. Feel free to call or email with any questions or comments. Should you have friends or family in need of a real estate pro, please pass my name on to them.

Comments (0)

Featured Property: 90 Dog Walk Rd, Richmond, KY 40475

March 15, 2011

By John Day

We’ve got another wonderful Featured Property this week. 90 Dog Walk Rd is a three bedroom, two bath ranch listed by Mary Layton. We asked her why this home was worth checking out and this is what she had to say.

90 Dog Walk Rd

What distinctive features set this home apart?

This updated ranch sits on a one acre lot, but also includes a one acre lot next door. The garage is oversized at 631 SF. With a view of the farm behind it, this home is a real treasure.

What are the advantages of the location & neighborhood?

The Richmond property is located in the community of Kirksville which is a suburb of Richmond. It is however its own community and a very quaint area.

Have there been any recent renovations or upgrades?

The kitchen has been updated with stainless appliances, travertine backsplash, undercabinet lighting and new fixtures. There are ceiling fans in all the bedrooms. The bathrooms have been updated for today’s market.

90 Dog Walk Rd

What amazing views will the new homeowner be able to enjoy?

The home backs up to farmland. When sitting on the deck the only thing you notice is the serenity of the land behind you.

What makes the price of this home so great?

This home includes 2 acres. The buyer can sell off one acre and still have an acre! This gives the home extra value. How about having a child or parent build on the lot next door?

Can you tell us a fun fact about the home?

The home according to the deed is located in Richmond, but has a Paint Lick mailing address!

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

This one is truly a must see. Don’t wait on it. It has it all and then some.

If you have any questions or would like to set up a personal showing for 90 Dog Walk Rd, Richmond, KY 40475, please contact listing agent Mary Layton at Milestone.

Comments (0)

Milestone Now Representing Webb-Beatty Homes

March 8, 2011

By Meredith Lane

Webb-Beatty Homes

I am excited to announce that Webb-Beatty Homes has partnered with Milestone Realty Consultants to sell their new homes!

I was first introduced to Webb-Beatty Homes while I was representing a family who purchased a new Webb-Beatty property. As the buyers’ agent, I was so impressed by the quality of the home, all the additional upgraded features included, the great price and the professionalism involved. Overall, my clients received a brand new home full of amenities at a really great value! They are still extremely happy with their home today.

Now I am pleased to represent this builder! Webb-Beatty Homes has nearly a decade of experience building custom Lexington homes in a number of subdivisions and on private lots in the surrounding counties. They are currently building in four Lexington subdivisions: The Home Place, Summerfield, Brighton East and Equestrian View.

Every Webb-Beatty home includes premium upgraded features to make it unique and special for each owner. And while every home is different, below are some features that come standard in a Webb-Beatty Home in Summerfield, Brighton East and The Home Place.

Webb-Beatty Homes

Granite countertops in kitchen
Stainless appliances
Hardwood allowance
Oil-rubbed bronze lighting and hardware
Smooth ceilings
9 ft. ceilings on the first floor
13 SEER heat pump
Detailed trim work
Variable height cabinets

If purchasing a build-to-suit property, build time typically takes about 3-4 months, with buyers being able to choose their options – from flooring, paint, lighting, brick and vinyl color, cabinets, countertops and more! Building is a fun process, it ties you into the property emotionally and really helps make your new house a home, right from the start.

For more information on Webb-Beatty Homes or any other new construction or resale properties on the market, please call, text or email me! I’d love to help you or answer any of your questions.

Comments (1)

2011 Bowl-A-Thon A Success

March 3, 2011

By Dennis Miller

The Community Relations Committee is off to a great start for 2011. Our sixth annual Bowl-A-Thon was held at King Pin Lanes. Milestone agents took a break from selling Louisville houses and we had two teams of four bowling their hearts out. There were a total of over 200 bowlers along with numerous volunteers participating in the event. This year’s benefit rose over $2,000 with the money going to one of our Louisville Realtors who recently suffered a serious stroke. A great time was had by all with music blaring, dancing, prizes, food and of course great bowling.

Louisville houses

Our next major event will be the GLAR Golf Outing in June. The event has not been put on by our committee for a few years. A sub-committee is starting to form and the planning is just beginning. We have lofty goals with all of the proceeds benefiting local charities. That charity will be determined at a later date. It is our goal to expand the day to include events for agent family members, dinner afterwords along with music and I am sure some interesting surprises along the way.

Camp Quality is getting kicked off as well. This will be our seventh year of sponsoring an event for the kids and as always we are confident the event will be the biggest and best. The event will take place June 30th and held at Country Lake Resort in Southern Indiana.

Comments (0)

Featured Property: 575 Pekin Pike Wilmore, KY 40390

By John Day

Pam Evans and Greg Howard have a lovely ranch home in rural Wilmore, Kentucky at 575 Pekin Pike. It’s today’s Featured Property and Pam let us know what makes this home so special.

575 Pekin Pike

What distinctive features set this home apart?

The first thought that springs to mind is the Geothermal system which was installed when the house was built in 1989. The current owners even starred in a print ad for Kentucky Utilities, their savings were so significant! Another really cool feature is the built in cabinets and fireplace mantle in the family room were custom made from cherry wood harvested directly from this farm. In addition, there is a Florida room on the back of the house overlooking rolling farmland. We take it for granted sometimes, but the Bluegrass State sure is scenic. The master bedroom is huge — with three closets. Big lighted pantry, storage closet in the garage, a working intercom system, central vacuum, extras at every turn.

575 Pekin Pike

What amazing views will the new homeowner be able to enjoy?

This Bluegrass home is conveniently located to Lexington, close to the corner of Highway 33 (Pekin Pike) and Harrodsburg Road, yet it feels like you are nestled smack dab in the center of a farming community. Every porch, window and doorway affords a view of the Kentucky countryside. It is stunning. And yet only 12 miles from Man-O-War Boulevard. 2.5 acres of the 5 acre lot are fenced with attractive black plank fencing and it just adds to the charm of the property. It is truly country living with city conveniences.

Have there been any recent renovations or upgrades?

The kitchen is updated with granite counter tops and the foyer, living room, dining room, and hallway all boast a fresh coat of paint! Additionally, the current owners had the entire house checked out by a certified, licensed electrician to be sure all electrical systems are properly operating.

Can you tell us a fun fact about the home?

Here is one I’ve NEVER heard before: The front lawn, shrubs, landscaping and trees can all be watered during a dry spell by Mother Nature. There is a spigot under the front bedroom connected to a cistern. A pump in the crawlspace allows FREE WATER to flow from this spigot whenever you desire. And, it is connected to an overflow valve which drains any excess water during heavy rains right into the yard if the cistern gets too full. Really cool.

Should you have any questions or interest in setting up a showing for 575 Pekin Pike Wilmore, KY 40390, please contact listing agent’s Pam Evans and Greg Howard.

Comments (2)

Older Posts

Archives

Enterprise Network

Categories