Greater Lexington Real Estate Podcast

David Humes

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If you are looking to buy or sell a home, get all the information and the latest updates, tips, and tricks from The Humes-Ward Team- your professional Lexington Real Estate Agents.

15/06/2017

You Don’t Need a Down Payment

What's the biggest obstacle to homeownership for prospective buyers? Selling a home? Get a free home value report Buying a home? Search all homes for sale According to a recent survey, not being able to save up enough money for a down payment comes in at the top of the list. 55% of prospective homebuyers cited this as their main stumbling block to achieving homeownership. With the continuing growth of home prices, things aren't getting any easier for them. In fact, homeownership rates reached a 20-year low last November. It might be hard to imagine, but just a decade ago many lenders offered easy, no-money-down mortgages. Anyone with a pulse could qualify for one. However, after the financial crisis, mortgage standards have become more restrictive. A typical mortgage now requires a 20% down payment. If you have decent credit and a steady income, you might also qualify for a number of specialized programs that require little or no down payment. First, there's the USDA loan, which is valid for homes in certain regions, such as rural and suburban areas. With zero money down and lenient credit requirements, the USDA loan can be a great choice.. Second, there’s the VA loan, which you can apply for if you or your spouse served in a branch of the military. It's possibly the most generous zero-money-down mortgage because of low interest rates and low closing costs. Third, there's the FHA loan. It does require a 3.5% down payment, but that is much more achievable than the 20% required for a conventional mortgage. There are also a number of credit unions and first-time homebuyer programs that might apply to your particular situation. There’s one more important thing you should know. If you decide to get one of these no-money-down mortgages, chances are good you will have to pay private mortgage insurance, which can drive up your monthly payments. Private mortgage insurance will disappear after your mortgage balance is under 80%, and the money you do pay will be tax deductible in most cases. As you can see, there are lots of options to make owning a home a reality for you, even if you haven't saved up tens of thousands of dollars. If you need any advice on getting a no-money-down loan, give me a call at (859) 983-7999. I can put you in touch with some experienced lenders who can answer your questions and help get you started. I look forward to hearing from you soon.
30/11/2015

The Importance of a Real Estate Professional in Central Kentucky

Want to sell your Lexington Home? Get a FREE home value report. Want to buy a Lexington Home? Search all homes for sale. It’s important to use a Realtor when buying or selling a home. Often, sellers think about hiring a professional to get top dollar with the least amount of hassle, while buyers might use an agent to mediate the process. The home search typically begins online. In fact, 92% of buyers use the Internet to start their search. Interestingly enough, 95% of homes sold still use a Realtor or Builder’s agent. There’s a high number of real estate professionals still involved in transactions. Only 2% of buyers purchase directly from a seller. Although the Internet is a great way to start, buyers will eventually use a Realtor to help with the process. They have the experience to know how to handle a transaction efficiently. If you’re thinking about selling a home, don’t underestimate the role of a real estate professional! As always, give me a call or email with any questions or concerns. I’d be happy to help you!
16/11/2015

What Could Be Wrong With Your Listing?

Want to sell your Lexington Home? Get a FREE home value report. Want to buy a Lexington Home? Search all homes for sale. The residential housing market has been hot recently. Home sales have bounced back to their second-highest price since February 2007. As we approach the winter, many agents report an increasing amount of multiple offer situations. Listings are sometimes selling above listing price. If your home hasn’t sold yet, take another look at your listing. It could be the price holding buyers back! Increasing a price by 10% can dramatically reduce the amount of interested buyers interacting with your listing. The bottom line: the market is hot. If your listing isn’t getting showings despite active online activity, sit down with your agent. You could be over by up to 12%. Revisit the price. At Rector Hayden, we use “the price on target” model to determine how much to price your home. Feel free to contact us about a free consultation. If you have any questions, give us a call!
11/11/2015

Sell Your Central Kentucky Home this Holiday Season

Want to sell your Lexington Home? Get a FREE home value report. Want to buy a Lexington Home? Search all homes for sale. Many clients wait to sell their home after the holidays. Honestly, the holidays are a great time to sell. Here are some reasons why. First, inventory is low. Sellers have less competition on the market. The inventory levels now are even lower compared to this time last year! Less competition helps your home stand out. Second, buyers are more serious in the winter. These buyers, asking for showings during the holidays, are highly motivated to buy a home. Some may have been relocated by their employers, and need to be in a new home by January 1st. Next, you have control over the showings. If you need a few days off from showings because of family, it's not a problem. We'll schedule showings to accommodate your schedule. You don't have to skip the celebrations when you sell during the holidays. In fact, some homes show better during the holidays! These homes look nice and decorated. Your house might look its best this time of year. Take advantage of this opportunity. It's an excellent time to list and show buyers your beautiful home. Finally, listings increase substantially after the holidays. We predict new construction will make a comeback in 2016. If you wait to sell your home until after the holidays, you will face more competition and less demand for your home. Selling your home during the holidays is a fantastic opportunity! You will have less competition, more serious buyers, and you can still celebrate the holidays without the added stress of showings. If you have any questions, give us a call or send us an email. We look forward to hearing from you!
26/10/2015

Where Can You Find the Most Detailed Central Kentucky Market Data?

Want to sell your Lexington Home? Get a FREE home value report. Want to buy a Lexington Home? Search all homes for sale. Today, we want to share a resource with you that will be updated on a monthly basis. It's called the Rector-Hayden Realtors (RHR) Report, and you can find it by following this link: http://rhrreport.com/. Every month, you can check that document to see what market conditions are like in Central Kentucky. The RHR Report is a great place to go if you want a snapshot of the current market. The 10-page document is also a great place to look up market numbers dating as far back as 2008 in order to identify trends. You'll find pending sales, closed sales, the average sales prices by county, the number of listings on the market by price point, current month vs. past month sales, months of inventory, and many other important categories for people interested in what our market is up to. When looking at the inventory, know that any price range that has over six months of inventory is a buyer's market, and anything less than six months is a market that is favorable for sellers. Again, if you want to take a look at where our market is heading, you can find the report here: http://rhrreport.com/. If you have any questions for us, please don't hesitate to call or email us at any time. We're always here to help!
08/09/2015

How Can a Home Warranty Help You Sell a Home in Lexington?

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31/08/2015

What Exactly Are Appraisals and How Do they Work?

Want to sell your Lexington Home? Get a FREE home value report. Want to buy a Lexington Home? Search all homes for sale. Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:8.0pt; mso-para-margin-left:0in; line-height:107%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri",sans-serif; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} Today we are excited to talk to you all about appraisals. We’ll go over what they are, how they work, and how they affect the purchase of your home. Every time you write a contract, there will be a clause in there saying that a home has to appraise in order for the sale to go through. These aren’t required with every type of financing, but definitely are for FHA and VA loans. If the home doesn’t appraise out to at least the value it was purchased for, you have the option to void the contract and/or negotiate the price down. An important thing to remember about appraisals is that they are one person’s opinion on the value. There is math and there are formulas involved in coming up with an appraised value, but there is some art to it as well. By using comparable homes, an appraiser will determine whether your house is priced fairly. If a new house sells the next day and it’s a more comparable home to yours than another one was, your home will then probably appraise a little differently. Even though you’ve had a home inspection, the appraisers have a responsibility to look for certain things and areas where improvements can be made. Sometimes you might get a conditional appraisal that says your home will appraise for x amount if you fix a certain problem. Hopefully this has been helpful to you. The appraisal typically takes about 48 hours to come back after it has been completed, and the lender will let you know when it comes in. If you have any questions for us about appraisals, feel free to give us a call or send us an email. We can’t wait to hear from you!
27/08/2015

Prepare for Your Central Kentucky Home Inspection

Want to sell your Lexington Home? Get a FREE home value report. Want to buy a Lexington Home? Search all homes for sale. Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:8.0pt; mso-para-margin-left:0in; line-height:107%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri",sans-serif; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} Today, we'll discuss the importance of home inspections. We recommend that everyone who buys a home does a complete home inspection. In Central Kentucky, that entails having a licensed home inspector come in and examine the home. You will also need a radon inspection. In our area, you have a 50/50 chance that there will be radon in the home, and you will need to get a mitigation system. The radon test takes place over a 48-hour period, so set up the radon test early to make sure it's done in accordance with the inspection period. We also recommend having a termite inspection, although this usually happens outside of the inspection period. The main home inspection takes about three to four hours. The inspector takes photographs and writes a report on any issues they have found. Then, they go over everything with the buyer. Usually they will walk through the house with the buyer to show them exactly what they are talking about, and the buyer can ask any questions they may have. Ultimately, you'll negotiate on repairs with the seller. Prior to the closing, you will do a final walk-through of the home to see if all the repairs have been done, and you can go into closing with confidence. If you have any questions on today's video, give me a call or send me an email. I'd be happy to help you!
25/03/2015

Declutter Your Home to Reap the Rewards in a Sale

.embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; height: auto; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; } Want to sell your Lexington Home? Get a FREE home value report. Want to buy a Lexington Home? Search all homes for sale. When you go to sell your property this spring, you're probably going to need to spruce it up a bit. Decluttering your home is an essential part of the staging process, and it can add a lot of value to your home despite the simple steps that can be taken to make your home look like new. Today I'll be going over a few simple steps for decluttering. Clean for a Cause: When you're getting rid of unnecessary items in your home, you can always donate your unwanted items to the Salvation Army or the Goodwill. Sometimes getting rid of things is easier when you know that they'll be going to a good cause rather than a dumpster. Be sure to itemize things if you want tax deductions as well. Let Go of Objects: Getting rid of old belongings is tough. We all struggle with it, but some things you really do need to just get rid of. That old cast from when your child broke their arm twenty years ago is one of those items that could be thrown out. There are many other things we could probably stand to lose, if we just commit to ridding these items. Get Rid of Health Hazards: Clearing up dusty, unused spaces in your home can improve air quality, as dust and mold that gather in areas can be a detriment to your health in the long run. Reclaim Your Space: If you need more motivation to declutter your home, consider how you could use areas that are full of unwanted items. That pile of old furniture in your garage could be used as a minibar, or that collection of clothing in your sun room could be thrown away and turned into a tea room. These are just a few ideas I had to share with you, but there are endless ways to organize and clean your home to attract buyers and increase your final sale price. If you have any questions about this topic, please don't hesitate to reach out to me. Whether you're buying or selling in Lexington, consider me your #1 resource for real estate!
23/03/2015

How Can You Take Advantage of Central Kentucky Real Estate?

Want to sell your Lexington Home? Get a FREE home value report. Want to buy a Lexington Home? Search all homes for sale. With the spring real estate market blooming here in Lexington, I thought this would be an opportune time to update you on what's going on in our local market. I'm going to be taking a brief look at how the market wrapped up in 2014 and how this will affect us in 2015. At the end of 2014 we had 4,740 homes on the market, and at the end of 2013 there were 4,933 homes for sale. This means that the inventory is down this year. We currently have 6 months of inventory, putting us in a neutral market that favors neither sellers nor buyers. Average list price in 2014 was $183K, compared to $177K in 2013, which is a healthy amount of appreciation. The average time on the market remained the same at 106 days, and the average list-to-sale price remained the same at 96%. In 2014 we had 9,821 homes sell, and in 2013, 9,862 homes were sold. The average sales price in 2014 was $175K, compared to $171K in 2013, and this also shows a healthy level of appreciation (around 3%). Keep in mind that affordability is as high as it's been in a long time. We expect a lot of buyers to come onto the market this spring, and this scenario will be great for both buyers and sellers alike. You have a chance to move up into a nice home, or to buy a great starter home. If you have any questions about the real estate market here in Central Kentucky, please don't hesitate to contact us. We're always willing to lend a helping hand to you.

10 épisodes

If you are looking to buy or sell a home, get all the information and the latest updates, tips, and tricks from The Humes-Ward Team- your professional Lexington Real Estate Agents.

Création

David Humes
Années d’activité

2016 - 2017
Épisodes

10
Classification

Tous publics
Site web de l’émission

Greater Lexington Real Estate Podcast

Greater Lexington Real Estate Podcast

Épisodes

You Don’t Need a Down Payment

The Importance of a Real Estate Professional in Central Kentucky

What Could Be Wrong With Your Listing?

Sell Your Central Kentucky Home this Holiday Season

Where Can You Find the Most Detailed Central Kentucky Market Data?

How Can a Home Warranty Help You Sell a Home in Lexington?

What Exactly Are Appraisals and How Do they Work?

Prepare for Your Central Kentucky Home Inspection

Declutter Your Home to Reap the Rewards in a Sale

How Can You Take Advantage of Central Kentucky Real Estate?

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