Shorter Commute Times

I recently read an article that verified what I've has always seemed like plain old common sense to me. Buyers are willing to pay more for houses that reduce their commute time to work. Here's the link to the article which appeared in Realty Times:

http://realtytimes.com/rtcpages/20070810_affordnear.htm




I interpret this as a great reason in Lexington to look at those kitschy 1950s neighborhoods like Pine Meadows, Southland and Gardenside as solid investments -- affordable, well-built homes that are just minutes from UK & Downtown. In addition, these neighborhoods offer the charm of mature trees, nearby schools, and in most of these homes a larger lot than you'll find in most newer neighborhoods which allows room for some lovely additions I've run across in recent years.


For example check out this home at 828 Summerville in Pine Meadows is priced at $139,000, offers gorgeous hardwood floors and has 1650 square feet of very usable living space. A great price for reduced commute times if you work anywhere near UK, downtown or St. Joe's or Central Baptist Hospital.




As we all become more and more sensitive to the time we spend behind the wheel and the pollution we're creating, these neighborhoods are poised to become the next Chevy Chase, Hollywood, Kenwick and Tahoma, Terrace: affordable, convenient and just a little more character than your average new neighborhood! For the first time home buyer or investor, take a look at what these wonderful neighborhoods have to offer.

new scam targeting new mortgagees

I just learned about a new scam from a Realtor friend in Radcliffe, Kentucky and I feel compelled to spread the word. A recent past client of hers received a notice saying that their mortgage had been sold to XYZ company and that they would need to start making their monthly mortgage payment to XYZ company at a new address. The new home owners complied and two months later received notice from their original loan holder that they were two months behind on their mortgage payments! The authorities are investigating but the homeowners are out those two months payments and now have a blemish on their credit history. XYZ Company doesn't exist and they'd been scammed!

Apparently, these con artists are using notices of newly recorded liens and targeting new home buyers. My advice is, if you have purchased your home in the past two years and receive a letter saying that your loan has been sold, please take the time to verify its authenticity. It is common that new loans are sold but please be certain that it is legitimate!