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Today’s Featured Property is a great two story in Masterson. 637 Lucille Dr is currently listed by Terri McGraw and Ben Brown and they sent us some exclusive details in to what you may expect to find in this four bedroom, three and a half bath masterpiece.

637 Lucille Dr

637 Lucille Dr

What distinctive features set this home apart?

Kentucky house was built as the seller’s “dream home” with Ball Homes and they added many upgrades to this Buckhead II floor plan. Upgrades include the extended size Jacuzzi bath to the Corian counter tops and the eighty gallon water heater.

637 Lucille Dr

637 Lucille Dr

What are the advantages of the location and neighborhood?

Neighborhood is very convenient and it’s location keeps you away from most of the Lexington traffic! Minutes away from Georgetown Road and Leestown Road making getting downtown a breeze and being close to these exits on New Circle Rd makes traveling around town much easier. Close schools, shopping and dining!

Have there been any recent renovations or upgrades?

There is a completely finished full basement with an added bedroom space featuring a closet and full bath to the area. Also brand new carpet through-out makes it a great buy.

What makes the price of this home so great?

It has been priced very conservatively considering the many upgrades and the fully finished basement. Appliances include a self-cleaning range, surface unit, microwave, dishwasher, disposal and refrigerator. A great deal for the home!

If you have additional questions or would like a private showing of 637 Lucille Dr Lexington, KY 40511, please Terri McGraw or Ben Brown at Milestone Realty Consultants.

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April 25, 2011
By Becky Locknane

The Greater Louisville Chapter of Women’s Council of Realtors hosted a Fashion Show and Luncheon on Wednesday, April 20th at Wildwood Country Club.  The Women’s Council of Realtors® is a network of successful Realtors® empowering women to exercise their potential as entrepreneurs and industry leaders.  The mission of the council is to be involved, be informed and be successful.

Louisville houses

Louisville houses

The theme of the Fashion Show was “The Magic of Derby Fashion” and several local stores provided the women’s and men’s stylish attire. The Derby Fashion models were Realtors®, builders and industry associates. Lots of bright colors, pretty hats and snappy accessories adorned the models. Retail booths were set up throughout the room for everyone to purchase goodies that were on display.

A percentage of the proceeds will benefit The Louisville Fuller Center for Housing.  The Fuller Center for Housing is a non-profit organization that seeks to eradicate poverty housing by promoting partnerships with individuals and community groups to repair, rehabilitate and renovate homes for people in need.

Milestone Realty Consultants had a table of supporters, all of whom took a break from selling Louisville houses to have fun and help raise some money.

Louisville houses

Michelle Schnell, Debbie Waddle, Debbie Jenkins, Rochelle Baumann, Louise Miller, Becky Locknane, Dee Weller, Danielle Dugan & Sherry Spanyer.

What a great afternoon of fun and fashion while supporting a wonderful cause.

Foreclosures Filings Hit 3-Year Low

U.S. foreclosure filings fell in the first quarter to the lowest level since early 2008 amid an ongoing backlog following last year’s halt in activity, according to a RealtyTrac report on Thursday.

Default notices, scheduled auctions and bank repossessions were reported on 681,153 properties, down 14.8 percent from the previous quarter and a drop of 26.9 percent from the first quarter of 2010.

It was the lowest level of foreclosures since the first quarter of 2008.

Nevada maintained the highest U.S. state foreclosure rate as one in every 35 homes had a foreclosure filing. California alone accounted for nearly a quarter of overall foreclosure activity.

Foreclosures add supply to a housing market that already has too much inventory available which helps to keep home prices down. But with very strong home sales over the past quarter and reduced foreclosures, the table is set for home prices to stabilize.

What Happened to Rates Last Week

Kentucky Mortgage Information

Kentucky Mortgage Information

Mortgage backed securities (MBS) gained +90BPS last week which pushed 30 year fixed rates downward. We had a very volatile week where we saw rates increase as well as decrease. Most of our gains occurred on Friday on the weaker than expected Consumer Price Index (CPI) data. CPI is a measure of inflation and mortgage rates react very closely to inflationary news. However, the longer term trend is still pointing towards higher mortgage rates as the very closely watched 100 day moving moving average continues its march towards higher pricing.

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-Apr 10:00 NAHB Housing Market Index Apr
19-Apr 8:30 Housing Starts Mar
19-Apr 8:30 Building Permits Mar
20-Apr 7:00 MBA Mortgage Purchase Index 15-Apr
20-Apr 10:00 Existing Home Sales Mar
20-Apr 10:30 Crude Inventories 16-Apr
21-Apr 8:30 Initial Claims 16-Apr
21-Apr 8:30 Continuing Claims 16-Apr
21-Apr 10:00 Philadelphia Fed Apr
21-Apr 10:00 Leading Indicators Mar
21-Apr 10:00 FHFA Housing Price Index Feb

It is virtually impossible for you to keep track of what is going on with the economy and other events that can impact the Kentucky mortgage and housing markets. Just leave it to us, we monitor the live trading of Mortgage Backed Securities which are the only thing government and conventional mortgage rates are based upon.

Find A Loan Officer

Mike Dunn, Holleigh Sharp & Jeff Sharp

Today’s Featured Property, 3941 Wymdham Ridge Lexington, KY 40514, is a wonderful home located in Wyndham Ridge subdivision. Listed by Terri McGraw at Milestone Realty Consultants, we asked her to give us some extra information that you won’t find on the MLS about this property.

3941 Wyndham Ridge

3941 Wyndham Ridge

Can you describe the architectural style of the home?

This four bedroom, two and a half bath brick colonial house is on a partially finished basement. It also features a deck and fully floored walk-in attic.

What are the advantages of the location and neighborhood?

This Lexington home is close to many different major stores including Kroger and Wal-Mart. Also minutes away from the shopping, dining and entertainment of Fayette Mall and The Mall at Lexington Green. Shillito Park offers many forms of outdoor enjoyment with a frisbee golf course, baseball fields, tennis and basketball courts, a walking trail, playground and shelters for cook outs or gatherings.

3941 Wyndham Ridge

3941 Wyndham Ridge

What distinctive features set this home apart?

A large front porch that is covered and offers a place to relax and take a break. The basement is partially finished for extra storage or the ability to finish for additional square footage. Bonus room in the basement also allows for the same luxury. Could easily be turned in to another livable room! Spacious living and family room offer enough space to accommodate large groups if company is desired.

What makes the price of this home so great?

It has been well taken care of, is fully landscaped and offers nice sized bedrooms including a walk in closet in the master bedroom.

Have there been any recent renovations or upgrades?

The seller has added ceramic tile in the kitchen and powder room as well as solid surface counter tops.

If you like 3941 Wyndham Ridge and have some additional questions or would like to schedule a private showing, please contacting listing agent Terri McGraw.

Today our featured property is a Louisville house located at 2024 Floradora Dr. Krista Wilson and Ray Wilson of the The Wilson Team have this three bedroom, one bath ranch listed. They sat down to give us some extra insight in to this lovely home.

2024 Floradora Dr

2024 Floradora Dr

What distinctive features set this home apart?

This ranch home has a wonderful front porch and large laundry room. With warmer months approaching, the 3ft – 5ft in ground pool (ideal for water volleyball!) will jump out to most along with the fact that it is on a nice sized corner lot.

What are the advantages of the location and neighborhood?

2024 Floradora Dr is close to shopping, dining, schools and churches! Shopping includes Meijer and Wal-Mart if a quick run to the store for groceries is needed and there are many pizza or fast food restaurants nearby by for those on the go! It’s also very close to Gene Synder Freeway making traveling around Louisville much easier. Set your tee times as this home is also around the corner from the Sun Valley Golf Course.

2024 Floradora Dr

2024 Floradora Dr

Have there been any recent renovations or upgrades?

First, in the kitchen there has been a new dishwasher and electric stove installed within the last year. There is also a new two year old furnace and air system. The pool has a three year old liner and two year old lock loop cover for the cooler months.

Does the community have any amenities we should know about?

This neighborhood is close to the Sun Valley Community Center and Greenwood Boat Dock.

Can you tell us a fun fact about this home?

The Southwest Festival is held at the Sun Valley Community Center around the block every year and celebrates all things Louisville. Definitely a must go event!

If you have any questions or would like to set up a showing on 2024 Floradora Dr Louisville, KY 40272, please contact The Wilson Team at Milestone Realty Consultants.

Apartment Vacancies Fall; Rents Climb

Housing affordability is a big part of the housing picture. When it is cheaper to rent, then people tend to rent more. When rents start to climb, it is a precursor to stronger demand for housing.

The vacancy rate for U.S. apartments posted a steep decline in the first quarter and rents crept higher as the job market improves. The quarterly vacancy report showed the vacancy rate dropped to 6.2 percent in the first three months of the year, down from 6.6 percent in the fourth quarter. It was the steepest fall since the commercial real estate research firm began tracking the market in 1999.

New York had the nation’s lowest vacancy rate, 2.8 percent, and its highest average rental, $2,794 a month. At the opposite end of the spectrum, Memphis, Tennessee had the nation’s highest vacancy rate, 11 percent. The average rent there was $634 a month.

What Happened to Rates Last Week

Kentucky Mortgage Information

Kentucky Mortgage Information

Mortgage backed securities (MBS) lost -92 basis points from Monday’s open to Friday’s close which helped to drive up 30 year fixed mortgage rates which react in the opposite direction.

This was primarily due to two factors: First, the safety premium or “fear factor” of Japan, Libya and other geo-political concerns were reduced (MBS trade better on global fears). Second, The European Central Bank raised their interest rates and financial markets began to consider the fact that economic growth in the U.S. will soon trigger some moderate inflation (MBS do not like inflation).

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
12-Apr 8:30 Trade Balance Feb
12-Apr 8:30 Export Prices ex-ag. Mar
12-Apr 8:30 Import Prices ex-oil Mar
12-Apr 14:00 Treasury Budget Mar
13-Apr 7:00 MBA Mortgage Index 8-Apr
13-Apr 8:30 Retail Sales Mar
13-Apr 8:30 Retail Sales ex-auto Mar
13-Apr 10:00 Business Inventories Feb
13-Apr 10:30 Crude Inventories 9-Apr
13-Apr 14:00 Fed’s Beige Book Apr
14-Apr 8:30 Initial Claims 9-Apr
14-Apr 8:30 Continuing Claims 2-Apr
14-Apr 8:30 PPI Mar
14-Apr 8:30 Core PPI Mar
15-Apr 8:30 CPI Mar
15-Apr 8:30 Core CPI Mar
15-Apr 8:30 Empire Manufacturing Apr
15-Apr 9:00 Net Long-Term TIC Flows Feb
15-Apr 9:15 Industrial Production Mar
15-Apr 9:15 Capacity Utilization Mar
15-Apr 9:55 Mich Sentiment Apr

It is virtually impossible for you to keep track of what is going on with the economy and other events that can impact the Kentucky mortgage and housing markets. Just leave it to us, we monitor the live trading of Mortgage Backed Securities which are the only thing government and conventional mortgage rates are based upon.

Find A Loan Officer

Mike Dunn, Holleigh Sharp & Jeff Sharp

Our Featured Property at 4020 Barnard Dr is located in Brighton Woods subdivision and is listed by Roger Johnson. He recently gave us some extra details in to this lovely four bedroom, two and a half bath two-story home.

4020 Barnard Dr

4020 Barnard Dr

What distinctive features set this home apart?

This home has an updated kitchen, built-in bookshelves/entertainment center and many other upgrades. Definitely ready to be moved into as it is very modern.

What are the advantages of the location & neighborhood?

This Lexington home is in a small neighborhood with no thru-traffic. Off of Todds Rd, this home has easy access to the shopping, dining and entertainment of the Hamburg area. It’s also located in between to exits of I-75 and close to Man ‘O War making traveling around or out of town very accessible. It’s minutes away from Richmond Rd which features Saint Joseph East Hospital, Jacobson Park and even more dining or shopping.

4020 Barnard Dr

4020 Barnard Dr

Have there been any recent renovations or upgrades?

Professionally customized built-in bookshelves in main living area. Kitchen renovated in 2010 with new counter tops, appliances backsplash tile sink and garbage disposal. All new interior/exterior light fixtures. Landscaping recently done.

What makes the price of this home so great?

This home is move-in ready with a lot of upgrades. It has a great amount of square footage for the price and a large fenced backyard with playset. Well-decorated and immaculate.

4020 Barnard Dr, Lexington, KY 40509 is listed by Roger Johnson at Milestone Realty Consultants should you wish to set up a showing or have any questions.

Louise Miller is an absolute powerhouse – full of energy, enthusiasm, ambition and determination.  You will be immediately struck by her candor and down to earth common sense all the while feeling that you have known her your entire life.  Her ability to relax and engage you will help you understand why her clients come back to her again and again and also frequently refer family and friends to use her services.  You are definitely in good hands with Louise Miller and The Miller Team!

Louise Miller

Louise Miller

To my delight, Louise quickly agreed to participate in this When Good Just Won’t Do series of blogs which honestly shouldn’t surprise me as she is always ready to help out Milestone and her fellow agents in any way possible.  Louise is the President-Elect for the Greater Louisville Association of Realtors and is active in the Kentucky Association of Realtors®.  She has also served on many Realtor® Association committees as well as community and civic organizations.  Her husband, Dennis, was awarded the John R. Carpenter Memorial Award for Community Service for GLAR in 2009, so you can see that good works run in the family!!

Louise has been a licensed agent selling Louisville houses for 28 years and also has her Broker’s license.  She comes from a teaching background which goes hand in hand with real estate sales as much of her time is spent educating and assisting clients in order to help them make good decisions for their lifestyles.  She attends conferences and training on a regular basis and recognizes the value in continuing education. “It is very important. We cannot keep up with our industry and provide service to our clients without it.”

On the subject of working with her husband, Dennis, and balancing family and career Louise says, “It was actually easier when my husband, Dennis, worked in another profession. I find that we actually work more hours now due to the fact that we are both totally involved in the same profession.” Running their business along with the community and professional obligations they fulfill would make for a busy life!!

When asked to what she would attribute her successful real estate career, Louise quickly pointed out,  “Attitude, tenacity and systems! Without a plan and systems to implement it, a Realtor cannot succeed. The right attitude will turn a long day into a short one.”  What would she do if she were starting over today? “I’m not sure. Real estate is a different career then when I started and it changes daily. I guess if I had to do something differently, I would mentor with someone that I respected for a while to get my feet wet. You don’t know how to sell real estate until you do it with a live audience.”  I suppose there have been a few changes in technology in the past 28 years – good point!!

Finally, her advice to new agents just starting out in today’s environment, “Get involved! Being active in your organization and proactive in committee work at your local board is invaluable. This creates new networking opportunities and hands on education that will be helpful your entire career.”

Here’s a newly listed home for today’s Featured Property! This listing comes courtesy of Stephanie Barnhill and is a three bedroom, two bath Ranch in Wyndham Down. Stephanie gave us a peek in to why potential buyers should look at 4245 Canterbeury Green Way.

4245 Canterbury Green Way

4245 Canterbury Green Way

What distinctive features set this home apart?

The distinctive features that set this beautiful home apart are the many upgrades made since the seller’s have owned it. Some updates include oak flooring in the main living area, halls and kitchen and new French double pane doors to the patio. In the bathroom there is new ceramic tile, wainscoting, granite counters and a sink. This home also features all Stainless Steele appliances and custom light fixtures. A large fully fenced back yard with landscaping are the perfect way to round out the already impressive list of upgrades.

4245 Canterbury Green Way

4245 Canterbury Green Way

What are the advantages of the location & neighborhood?

The location offers easy access to schools and is minutes from any shopping you may want. The close proximity to New Circle and Man ‘O War make getting around town very easy and there is access to a clubhouse and pool if desired.

What makes the price of this home so great?

This Lexington home is priced right! The upgrades in addition to the clubhouse amenities and neighborhood make it ideal for many. Home is in walking distance to Southmoore Park which features basketball and tennis courts, a playground and walking trail.

Can you tell us a fun fact about the home?

If you have children, one of the school bus stops is directly behind this house!

For showings or if you have additional questions about 4245 Canterbeury Green Way, Lexington, KY please contact Stephanie Barnhill at Milestone Realty Consultants.

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April 6, 2011
By Judy Craft

Deborah Back is consistently one of the top producers in all of Central Kentucky and has been featured in numerous articles over the years. Deborah possesses impeccable people skills which have proved to be invaluable as she helps buyers and sellers, particularly in today’s volatile market.  We recently asked Deborah about her business philosophy and what she feels are the keys to her success.

Deborah Back

Deborah Back

Some background – Deborah has been a licensed agent for 11 years.  She graduated from EKU with a degree in Interior Design but her sales background was in the tourism industry.  “I was in the tourism business in sales for 16 years with 14 years in a corporate environment where your efforts were measured every day to determine what your return on investment would be of those efforts.  It was a people business and you had to build trust & grow relationships in order to reach your goals.  You had to have a marketing plan that would show what it would take each year to reach & exceed those goals.”  When asked how this helped her in her business today Deborah responded, “It taught me that relationships are the cornerstone of being in the people business. It taught me that all people are looking for someone who is looking out for them & they want that person to have honesty & integrity, but also they want that person to have the knowledge to drill down to the facts & be able to give them a plan to reach their (housing) goals.”

Deborah also places a high value on continuing education and has attended several conferences and training programs over the years.  She also holds several designations and certifications.

Family and work go hand-in-hand as Deborah works with her husband Greg and son Todd making up The Back Team.  She works hard to maintain balance in both her personal and professional life. “My husband and I have raised two happy & healthy young men & that has been the discipline in our lives, but recently I have taken up the practice of Yoga.  Sometimes it is difficult to find the balance but we are fortunate to be able to follow our younger son’s college baseball career at Georgetown College.  Every opportunity we get we hit the road to attend his games.  Did I mention shopping?”

The Back Team

The Back Team

That family support is vital to Deborah’s success.  Even today she states, “I would have never taken the plunge into the Realtor world if it had not been for the love & encouragement of my husband.  He has given me unconditional support & I think a supportive family is huge in this business.  Our kids were 17 and 10 when I entered this business.  In between their activities I would be putting up signs, dropping off contracts, meeting inspectors, etc. etc. One time our younger son waited in the car 30 minutes playing his video game (I promise it wasn’t child abuse) while one of my clients poured out her frustrations over a Lexington home inspection. He politely reminds us (frequently) that he will never do what we do! Too much drama, he says!”

Given the chance, what would she do differently if she could start over again today?  “I would have probably gotten my Brokers license earlier in my career.  It is something that I would like to have.”  Well, Broker’s license or not, we think you are doing just fine Deborah!

Anything to pass on to new agents in today’s environment?  “The first thing I would tell them is that you must be able to face rejection well.  In this business with over 2000 agents you will find out quickly that buyers & sellers are not always  loyal.  The second thing is that you have to keep a positive attitude of glass is half full.  The third thing is that they should have a marketing plan on paper with set goals to achieve.  As new agents they need a list of names called a sphere of influence  that they have constant contact with.  It doesn’t have to be 500 names.  It can be 50 or 100 names.   I went to the people that I knew best from my previous career as they already trusted me.  You aren’t going to get them all but you will get some of them.  Lastly I would say as new agents you need to be 110% committed.  Be visible, attend all office functions, ask questions often (I am still asking questions) & don’t forget the Golden Rule”.