Lovely 3 bedroom and two bath home for sale only 15 minutes from Lexington Ky

Lovely 3 bedroom and two bath home for sale only 15 minutes from Lexington Ky

Both baths have been remodeled.  The master bath has a garden tub and a walk in closet.  The country kitchen opens to the living room and is adjacent to the large laundry/mud room.  The mud room opens to the deck which makes keeping the house clean quite easy. Call Paul Campbell at 859 684 5890 to see this lovely home.

Lovely home near UK for sale, 874 Cheryl Lane, Lexington Ky.

Lovely home with great space and terrific neighborhood for sale near the University of Kentucky, 874 Cheryl Lane, Lexington Ky.

Give Paul a call to see this lovely home.  859684589

Home Sellers -Insist Realtors show only qualified buyers your home!

Home Sellers – Insist Realtors show only qualified buyers.

I  heard a long report last night on the local news about a couple posing to be buyers and stealing items from homes they were viewing.  One of the best reasons to list your home is so that you can be protected from these kinds of thieves.  Home owners, you have the right to insist that Realtors show your home only to qualified buyers.

If all buyers are qualified then they will have already spent time with a lender.  Ask your Realtor to put these comments in the agent remarks.

“Please show the home to buyers who have been pre-qualified by a lender you trust.”

Realtors who show homes to strangers are not using their time wisely or making sure that the homes they show are protected from thieves.  When Realtors drop everything to show a home to a total stranger they put themselves at risk and they put your home at risk.  These real estate agents are usually “starving for business” and they are not likely to bring a buyer.  It is not worth the risk to have these people show your home to strangers.

Happy New Year!

Luxurious condo just listed, walk to UK, Rupp arena and downtown, only $249,750

Luxurious condo just listed, walk to UK, Rupp arena and downtown, only $249,750.

 

Carefree Living At Its Best! One of the most popular condo complexes near UK, this modern 3rd floor unit comes with floor-to-ceiling windows & balcony facing UK Campus. Unit features 2 master suites, each with its own private bath & walk in closets with custom shelving. Enjoy an open floorplan with bamboo floors in living area, granite countertops in kitchen, all appliances convey (including washer & dryer), and two parking spaces (1 assigned & 1 unassigned). With water & sewer paid for by HOA, the rest of your utilities are only $50 to $70 per month! (cable & phone extra) Bored or Hungry? Choose from a dozen of restaurants & entertainment venues just walking distance of this fabulous unit. This 6yrs old condo is nestled between the UK Campus & a historic neighborhood, and is just a couple blocks of downtown Lexington.

Center Court condo for sale.  Great location and luxury for less than 250K

Location cannot be beat on this luxury condo near the University of Kentucky

Radon is a killer, get a free test kit to protect your family.

SAVING LIVES -Radon is Dangerous!!!

Radon — seriously?  YES.  Radon is an invisible, odorless, radioactive gas that is found naturally in rocks and soil. It enters homes through cracks and other openings in foundations. The only way to know if your home has an elevated radon level is to test. The Division of Environmental Health has free radon testing kits available 8 a.m.-4 p.m. Monday-Friday at their office, 804 Newtown Circle, here in Lexington.   For information, call (859) 231-9791
 
When I first started working in Lexington as a realtor I knew nothing about radon.  As I began to know of non smokers who died I began to do more and more research and now I am convinced this is something we should all take very seriously.  

I lived 58 years in the Pacific Northwest.  I don’t recall ever knowing or even hearing of someone in the states of Idaho and Washington who did not smoke but died of lung cancer.  But I have lived less than five years in Lexington.  I personally know one person and know of several others who were not smokers who have died of lung cancer in Kentucky. 
Most people assume that radon will be only a problem in a home with a basement.  That is a dangerous assumption.  I recently represented a buyer where the test came back in a ranch home that was 7.2 p/L, which is almost twice the danger level (as recommended by the EPA).   
Protecting your family from Radon is your first priority.  If you do discover you have high radon levels then it will cost somewhere between $900 and $3,000 to get it mitigated.  Mitigation for most homes will probably be less than $1,500.  Homes with a crawl space are usually more expensive because of the labor involved to seal the plastic.  Crawling around in a crawl space is difficult work and you cannot expect this done cheaply.
Another reason to mitigate radon is if you intend to sell your home.  If you do have a radon problem you not only protect your family’s health but you also make it much easier to market your home when you get ready to sell.  Knowing the radon has been mitigated lifts a huge burden from your family and gives the new buyers also an assurance that they have a safe new home.

 

Home Buyers and Home Sellers: Pay Close Attention to the Seller’s Disclosure

 

Protect Yourselves Home Sellers and Fill out the Seller’s Disclosure with great care and precision.

I recently wrote a blog titled “7 Tips to Insure Buyers are Prepared to Write a Strong Purchase Offer.”  The first tip was to make sure the you understand the information on the seller’s disclosure.  In this blog my goal is to further explain the seller’s disclosure for the State of Kentucky.

What is a Seller’s Disclosure Form?  It is a form that the seller can fill out that informs the buyer and agents about the history of the home.  In the state of Kentucky the seller can choose not to fill out the form but in doing so, will cast some serious doubts about the condition of the home.

If the seller has no idea about the condition of the home then they can check the “unknown” boxes.  This is most common when an estate home is being sold by survivors who have not lived in the home or by a bank owned home.  It is also quite common to see all the “unknown” boxes checked when the seller has been renting the property.  When the seller has no idea about the condition of the property they will often sell it “as is.”  They will usually allow inspections but they will not to agree to negotiate the correction of problems.

Some things to consider:

If the seller has been renting the property, but checks “unknown” for the entire property doesn’t this make you wonder about the condition of the property?  This would mean the seller (as a landlord) either never repaired anything or are being willfully ignorant about the true condition of the property.

Check to make sure every line of the form has been completed.  The directions to the seller very clearly state that every line needs to be completed.  Here are the specific directions for this form KRS 324.360

INSTRUCTIONS TO THE SELLER: (1) Complete all numbered items. (2) Report all known conditions affecting the property. (3) Attach additional pages, if necessary, with your signature and date and time of signing. (4) Complete this form yourself or sign the authorization at the end of this form to authorize the licensee to complete this form on your behalf in accordance with KRS 324.360(9). (5) If some items do not apply to your property, write “not applicable”. (6) If you do not know the answer to a question, write “unknown”.

Key Reasons for Both the Buyer and the Seller to Pay Close Attention to This Form:.

Seller Benefits

1)  In the state of Kentucky the purchase offer says that the buyer cannot ask the seller to repair any defect that is on the seller’s disclosure.  The insert below is a snapshot from the offer to purchase for the state of Kentucky.  This is from the top of page three.  It is part of the language for the third inspection choice.  It is the choice I recommend for most of my buyers.

Seller's Disclosure protects the seller.

Buyers cannot ask sellers to make repairs on the items listed on the seller’s disclosure form in the state of Kentucky.

This is again referred to and emphasized on the inspection form.  See item 3 on the insert from the Inspection Agreement Form below.

The language that protects sellers from making repairs to the items disclosed.

The Inspection Agreement form clearly states that home sellers do not have to repair items that are disclosed on the Seller’s Disclosure Form

So sellers are protecting themselves from further demands of the buyer when they disclose any problems that exist in the home.  This is one reason that it may be worth the seller’s money to have an inspection before placing their home on the market.  With a good inspection, the seller will be able to disclose any problems and not have to worry about the demands from buyers to have disclosed defects repaired.

2)  A seasoned buyer’s agent will have lots of questions about an older house that seems to be in “perfect condition” according to the seller.  If the disclosure form shows few or no defects or repairs then that can be a red flag to the buyer’s agent.  When I see a disclosure form that is filled out completely and has a long list of repairs and disclosed defects I know the seller has worked hard to be forthright.  I also know the seller has probably kept very good records of the maintenance of their home.

3) Filling out this form accurately and with diligence gives the seller assurance that there is very little chance of a lawsuit in the future. Making sure the Seller’s Disclosure is completed correctly and thoroughly may be a good way to help sellers sleep well during the selling process and for many years in the future.

Buyer Benefits:

1) Reading the Seller’s Disclosure carefully can be a big time saver.  If you do not want to worry about replacing an old furnace or air conditioner then find out how old they are.  If this is not disclosed, you can hire an HVAC professional to help you determine the age if it is worth your time.

2) Understanding exactly what has been repaired on the home can give you assurance that you want to move forward with an offer.  There are certain things that can be very costly when maintaining a home.  The roof is one of the best examples.   Knowing that the shingles on the roof have been replaced in the past five years can give you assurance that the roof will probably last another fifteen years.  It is easy for an inspector to look at the underlayment and determine the condition of the roof foundation.  Just a quick side note:  Often the buyer will state the “the roof” is five years old when  only the shingles are five years old.  Most people replace the shingles when they wear out but not the underlayment. Have your agent find out if the entire roof was replaced or just the shingles.

3. Having a Seller’s Disclosure Form that is filled out with diligence is a good signal that the listing agent has done a good job helping the seller understand the importance of detail.  Experience has shown it is also a good signal that the seller is someone that you can trust and will likely be easy to work with. 

A Seller’s Disclosure Form that is fully completed and easy to understand is a win win situation for all parties involved in the transaction of selling and buying a home.

 

 

 

Can this be true? Fayette County Kentucky is a seller’s market?

If you have been waiting to sell your home in Lexington Kentucky this may be the time to get off the fence!

The September Rector Hayden Market report shows that certain prices of homes have become a seller’s market.  Homes priced below $70,000 and between $140,000 and $159,999 now have less than six months inventory. Many other price ranges of  homes have moved to only 7 months inventory.

The super low interest rates continue to entice buyers.  So give me a call if you are ready to take advantage of the new housing market conditions in Lexington and Fayette County.  Call Paul  859 684 5890 for a free market analysis.

 

 

Certain price ranges of homes for sale in Lexington Ky are now a seller's market.

Is Fayette County now a seller's market?

Public Notice, Central Kentucky Nudges Toward a Seller’s Housing Market!

Yes, that is right!  The latest Rector Hayden Market Report shows that the number of homes for sale in Central Kentucky is slowly decreasing while the sale of homes continues to be strong.   Homes for sale in Central Kentucky for August have dipped below 6,000.  That is the lowest total of homes for sale in Central Kentucky in the past five years.

In contrast, the homes sold in Central Kentucky is the highest total in the past five years.  This is good news for home sellers in Central Kentucky. This could be the opportune time to sell your home.  Give me a call for a free market analysis.  859-684-5890

See the whole report here.

Buyers don’t waste this opportunity to buy while interest rates are historically low!

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Sellers Beware: Buyers are often unaware of credit problems and sometimes these are revealed just before closing.

This is a second post that is written to inform sellers so that they will be prepared when difficulties come while selling their homes.

I recently had a seller that had to wait almost three additional weeks to get their home to close.  The buyer had gone through bankruptcy a few years prior.  He had cleared all the hurdles to buy a home and yet just before closing a lien was discovered that had to be cleared.

Somehow the lawyer who had helped him with the bankruptcy had failed to notice that a bank had secured a lien on any future property that he may purchase.  The buyer had to go through the legal press necessary to clear this lien. 

This was a new experience for me and for the buyer’s agent.  Combined we have over thirty years of experience selling real estate.  The point I want  sellers to  understand is that there are so many different things that can make it difficult to sell your home.  Getting an acceptable contract is exciting but just the beginning of the process to close the deal.

To read the previous post to help sellers just click on this link.

 

 

 

Warning Speed Bumps Ahead! What Home Sellers Need to Expect. Part One – Pre Approved Buyers are not qualified.

Things have changed, today's buyers are no Qualified

Expect a bumpy road with your buyer's finances.

This is the first in a series that I will be writing to help people selling their homes in Lexington Kentucky.

I am starting with the things that The Jubilee Team has experienced.  These posts are meant to help home sellers be prepared for the bumps.  They are not meant to scare sellers but to prepare you so that you are not caught off guard.

Today’s post is a warning to be prepared for some severe bumps when it comes to the buyers being Pre Approved.

Lenders no longer write Qualification Letters.  All the letters now are Pre-Approval letters.  These Pre-Approved buyers have gone through a preliminary process that tells the lender usually that the buyer is ready to begin the buying process.

However the letters always have a list of items that state the buyer will need to provide additional information and provide proof of employment, income, etc.

One very common condition in a Pre-Approval letter is “Buyer will Provide Acceptable Verification of Funds to Close.”

We have had the underwriters at the very last minute require buyers to prove the source of an $80 deposit.    This kind of minute detail can delay a closing and even kill the deal.  If the buyer is not a good record keeper coming up with proof of these funds can be time consuming.  If the buyer has been earning money on the side and not claiming their income of course then it becomes a matter to report to the IRS.  The buyer then may be scrambling to pay the government rather then buy a home.

Stay tuned for the next post:  Buyers are often unaware of credit problems and sometimes these are revealed just before closing.