Sotheby's eGallery

As much as I always say that I love real estate for the people, the truth is some mornings I could stare forever at the Sotheby's eGallery houses playing in the widescreen monitor in our office lobby. In addition to beautiful Central Kentucky homes, the eGallery flashes Sotheby's listings from all over the world. Excellent fodder for the "if money were no object game" I like to play sometimes. If you had $5 million would you choose the rustic cabin home in Whitefish Montana or the Greek cliff side home over the sparkling waters of the Mediterranean. Tough call, I know! You don't have to actually stand in our lobby though (not that it's not fun to do that with a latte from the Starbucks next door) you can view the eGallery homes on-line at www.sothebysrealty.com -- click the title to access the site directly.

Today's interest rate

4.75% on 30-year fixed. Incredible. So, that plus an $8,000 first-time buyer tax credit. Could there be a better time to buy?

Cost vs. Value

One of my favorite real estate tools is out...Remodeling Magazine's annual Cost versus Value Reoprt. I'd love to put the whole thing here on my blog but apparently I'd be arrested by the internet copyright police if I did. I do have a link to the report though (just click on the title above) and you can research your area for average job costs and the percentage of return you can expect for individual home improvements. To research our Central Kentucky market, the best comparison is probably using Louisville as Lexington's not on there. That's my advice anyway!

Hmmm...interesting, maybe? The best return is on a new front door. Also, wood replacement windows rank pretty high -- plus you save on utility bills and they're just plain nice -- been there, done that myself! Worst return on investment...home office remodel!

Want to rent during WEG?

Surely you know what WEG is...Altech FEI World Equestrian Games...drive around New Circle or downtown and see the countdown numbers. While we've been talking about it forever, the games are actually in sight at less than a year away!

If you live in Lexington, you have undoubtedly had the thought enter your head that you should leave town and rent out your house. I have! I won't be doing it though because more than likely my children will need to go to school for those two-plus weeks. However, if you are serious about vacating and renting out your house and/or land, I can help do that now. Bluegrass Sotheby's now has a great system in place to rent your home. I can provide a market analysis of your home's rental value for the games, help you find your guests and help you rent your home as safely as possible for the extent of the games.

Emerald Ash Borer

If you live in Lexington, you probably know why all those trees around town have green, plastic ties around their trunks. If you don't live in Lexington but are thinking about moving here, look at for those green tags and learn to identify an Ash tree. Sadly, our native Ash Trees will soon be the victim of the exotic and evil Emerald Ash Borer.

For the homeowner, this means that you may soon have the expense of treating any Ash trees on your property (estimates I've heard are $10 per inch of the trunks diameter) or losing your trees and paying for their removal. None of it's good. Most of the street and front yard trees around Lexington have now been marked by volunteers armed with green ties, but backyard trees would not be marked. If you aren't familiar with which tree is an ash, click on the title above and it'll take you to an Ash tree link which can help you identify them.

As a Buyer's agent, I'm schooling myself to readily recognize an ash trees for my buyers. While an ash tree wouldn't put me off buying a home I loved, I'd want to know what I'm in for and if I need to factor a tree removal and replacement or treatment into my cost of home ownership.

Tax Stimulus extension

It appears that the home buyer tax stimulus credit extension is a done deal, as well as the passing of the $6500 credit to resale buyers who have lived in their current home for 5 out of the last 8 years. The new deadline is that a home must be under contract by May 1 and closed by July 1.

Call me or email me if you want more details. I have a great little fact sheet on the extension from a lender I work with that I'm happy to share!

Good news...

I'm flying to New York in 3 hours to hang out with my sister in the Big Apple, which is good news for me -- direct flight from Lexington's beautiful Bluegrass Field...truly one of the prettiest airports in America! Not that I'm biased or anything.

But before I leave, I want to share the really good news for homebuyers and sellers! The Senate passed the extension of the $8,000 First Time Home Buyer Tax Credit and has added a provision granting a $6,500 tax credit for resale homeowners buying a new home if they have lived in their present home for 5 or more years and have a combined family income of under $240,000. Now, the measure just awaits the President's signature. Let's hope he signs that soon!

See you Monday!

Fall in the Bluegrass...

Could a day have been more beautiful than yesterday? I took an excursion yesterday to Costco in Louisville via a trip out Russell Cave Road and over Iron Works Pike to pick my daughter up from a sleep-over birthday party on Elizabeth Station farm. A not-so-subtle reminder trip that there couldn't be anywhere more lovely than Central Kentucky in the Fall.

The air was crisp, the leaves brilliant in reds, yellows and oranges against the still-green of manicured horsefields and carefully tended fences. Heading out north of town, the landscape is picture perfect with horses frolicking gleefully in the cold of the morning, their coats thickening up for the winter. Lee, the mother of Mary Rollins' friend, runs a horse operation on 80 acres just over in Bourbon County. We took a drive in her pick-up through the fields to pick the girls up where they were visiting with the mares and Earnest, the world's cutest donkey -- think Brighty of the Grand Canyon. It reminded me of my own slumber parties on Delong Road where I was fortunate enough to have horses and acres of land on which to ride. I didn't appreciate that experience enough at the time, but in retrospect, it was a true treasure. Watching Lee feed the horses in the cold morning air took me back to a good place full of hard work, solitary hours in the barn, and some fine four-legged equine and canine friends! I'm most definitely out of horse practice now -- I haven't mucked out a stall in more than 20 years but like riding a bike, I'm sure you never forget how to wield a pitchfork.

I live inside the Circle now, enjoying the throw-back Fifties lifestyle of Chevy Chase. Raising my children with sidewalks, Ecton Park, charge accounts at Wheeler's Drugstore and Graeter's ice cream a quick bike ride away, I'm a little sorry that they don't know the real world of the horse and the freedom of land. I've made the choice for them to grow up in a neighborhood and they seem happy with the life they live. But they don't pick blackberries in the summer out the back door, they don't try to catch pet mice in the barn, and they don't know the hard work of toting water to a barn when the water lines frozen.

First Time Home Buyer Tax credit

Just in case you aren't paying attention to the news, time is running out for the first-time home buyer's tax stimulus credit. To qualify for the $8,000, buyers must close on a home by November 30. In some markets that may be next to impossible, but it's still quite doable by Lexington-market standards. Typical closing times are 30 days from contract to close although I anticipate we'll see a rush of activity in the next couple of weeks which could possibly create some delays. In addition, rates are down again -- approximately 4.75% on a 30-year yesterday! Truly a great time to stop paying rent and start paying yourself. I have some great start homes on my website you should check out!

Be a movie star...

This is so NOT real estate related but totally Kentucky so I just have to share:



Come be a part of the movie “SECRETARIAT.”

Lexington and Louisville, Kentucky:
The upcoming Walt Disney Pictures’ movie “Secretariat” is seeking extras for filming in the Lexington and Louisville areas. The approximate two-week filming duration is slated to begin at the end of September. All types and ages are needed!

Those interested must BRING A NON-RETURNABLE CURRENT SNAPSHOT OF THEMSELVES, as no photos will be taken at the casting call. Photos can be a basic snapshot printed from a home computer.


THE FOLLOWING OPEN CASTING CALLS FOR EXTRAS WILL BE HELD:

Louisville, KY
Thursday, September 10, 2009
Anytime between 3 pm – 8 pm
Churchill Downs - 700 Central Ave.
Louisville, KY 40208
(Enter at Gate 10. Parking at Longfield Parking Lot. Report to 4th Floor)


Lexington, KY
Saturday, September 12, 2009
Anytime between 9 am – 2 pm
Griffin Gate Marriott Resort
1800 Newton Pike
Lexington, KY 40511
(North Entrance, Salon H and G)

Peaches...

Thanks to Brenda Clark, the owner of my great new listing in Boones Trace (143 Gleneagles Boulevard -- $350,000 -- incredible home, golf course community about 15 minutes to Hamburg!) for a tip on the best peaches north of South Carolina. Actually, they are from South Carolina. In front of the Shell station on Man O'War just south of Tates Creek is a produce stand I've driven past for years. Last Friday, I stopped for freshly imported South Carolina peaches as good as my own last personal imports from South Carolina! And, this stand has oodles of other gorgeous produce. While I love Saturday morning's downtown Farmer's Market, this is a wonderful weekday source for beautiful fresh foods in the 'burbs!

Good housing data news...

I'm posting a link here to a story that came out this morning on Bloomberg. It's nice to see increase in housing activity.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aqnFJ5TBePL8

Busy and slow...all at the same time!

What an interesting summer it's been in real estate! Or maybe it's been an interesting credit market summer which has greatly impacted our real estate market. I seem to spend a good deal of time reassuring my buyer-clients that the third-degree experience they are receiving from their lenders isn't personal and that we just have to muddle through the myriad of requests that are being made for documents that they already provided. I'd say a good fifty percent of the transactions that I've been involved in recently haven't closed on time because of lending issues -- underwriting questions, appraisals, et cetera. When I started in real estate, I'd swear that if you could fog a mirror, you could get a loan! Obviously, those times have changed and we've swung way far to the other side of the pendulum and well-qualified buyers are even finding it difficult to persuade lending agencies of their credit-worthiness.

Tomorrow things can slow us down even more with new Regulation "Z" requirements:
New Truth in Lending Act (TILA) federal disclosure rules for lenders take effect tomorrow, July 30, and closings could take longer as a result. The changes to "Reg. Z" add borrower review periods and require lenders to notify borrowers of any annual percentage rate (APR) changes of more than 0.125 percent. Borrowers then get an additional review period.

That additional review period means longer closing times!

Bluegrass 10,000

I'm really excited about Lexington's best run -- the Bluegrass 10,000 on July 4. The more than 30-year old run takes you through downtown Lexington, out Richmond Road (past Coach K's new house -- hope he's on the porch cheering me on!)and back to the heart of town where the race ends with lots of goodies and Lexington Fourth of July street festival takes off. I'll be running this year by myself at the advice of my trainer who has suggested that I'll make better time treating it like my everyday run. But be it by yourself, running, walking with friends or just cheering your friends on from the sidewalk--this is the best 10K of the year!

KHC First-time home buyer news. Fantastic!

Governor Beshear announces help for first-time home buyers

Many states have set up special programs to help potential first-time homebuyers overcome the obstacles in buying their first home. The Kentucky Association of REALTORS would like to inform its members of a special initiative in Kentucky, announced by Governor Steve Beshear yesterday.
On April 22, 2009 Governor Steve Beshear announced a special initiative by the Kentucky Housing Corporation to offer up to 4,500 for down payment and closing costs for first-time home buyers who obtain a KHC home loan. The program will begin on May 1, 2009 and continue through Nov. 30, 2009. To view the press release, click here or continue reading the information below.
The First Home Advantage Program provides a second mortgage with principal and interest payments deferred until July 1, 2010 for KHC-approved, first-time home buyers.
“For many first-time home buyers, the biggest barrier to homeownership is the ability to pay upfront expenses, such as the down payment and closing costs,” said Gov. Beshear. “The innovative First Home Advantage Program will not only help qualified Kentucky home buyers overcome this barrier and realize their dream of owning a home, it will hopefully reinvigorate the housing market help get our economy moving in the right direction.”
The First Home Advantage Program offers a 10-year loan that defers payment with a zero percent interest rate until July 1, 2010. After the initial deferment period, the loan will fully amortize over ten years at the rate of 6 percent. If the borrower pays off the loan before July 1, 2010, KHC will forgive $300 of the principal balance.
The American Recovery and Reinvestment Act of 2009, signed into law by President Barack Obama on February 17, 2009, provides first-time home buyers with an $8,000 tax credit. After purchasing their home, home buyers have the opportunity to file for the housing tax credit provided by the stimulus on their 2009 tax returns and use the tax credit for the repayment of the First Home Advantage Program loan to take full advantage of the prepayment incentive.
“We want to do everything we can to help Kentucky homeowners purchase their new homes,” said Richard L. McQuady, chief executive officer of KHC. “The First Home Advantage Program allows home buyers to take advantage of every opportunity available to them in these difficult times.”
In order for home buyers to qualify for this program, they must obtain a KHC first mortgage through a KHC-approved lender, be a first-time home buyer, meet KHC income and purchase price guidelines, and have a 620 minimum credit score.
To learn more about KHC’s homeownership programs, visit their Web site www.kyhousing.org.

Fun facts about Kentucky...

About The Great Sate of Kentucky:


*The bloodiest civil war battle was fought in Perryville, Kentucky .

*The first town in the United States to be named for the first president was Washington, Ky. It was named in 1780.

*1792 - Kentucky was the first state on the western frontier to join the Union


*In the War of 1812 more than half of all Americans killed in action were Kentuckians.

*1816 - (first promoted) Mammoth Cave, with 336+ miles of mapped passages, is the world's longest cave. It is 379 feet d eep and contains at least 5 levels of passages. It's second only to Niagara Falls as the most popular tourist attraction in the US .. It became a National Park on July 1, 1941.

*The first American performance of a Beethoven symphony was in Lexington in 1817.

*Begun in 1819 the first commercial oil well was on the Cumberland River in McCreary County .

*Kentucky is the state where both Abraham Lincoln, President of the Union, and Jefferson Davis, President of the Confederacy, were born. They were born less than one h undred miles and one year apart.

*1856 - The first enamel bathtub was made in Louisville

*In 1873, Louisville druggist John Colgan invented something that you can find in any just about every grocery store in the world, chewing gum.

*1883 - The first electric light bulb was shown in Louisville. Thomas Alva Edison introduced his invention to crowds at the Southern Exposition.

*1887 - Mother's Day was first observed in Henderson by teacher Mary S. Wilson. It became a national holiday in 1916.

*The radio was invented by a Kentuckian named Nathan B. Stubblefield of Murray in 1892. It was thre e years before Marconi made his claim to the invention.

*Pike County the world's largest producer of coal is famous for the Hatfield-McCoy feud, an Appalachian vendetta that lasted from the Civil War to the 1890s.

*1893 - 'Happy Birthday to You', probably the most sung song in the world, was written by two Louisville sisters - Mildred and Patricia Hill.

*Late 19th century - Bibb lettuce was first cultivated by Jack Bibb in Frankfort, Kentucky

*1896 - The first (known) set of all male quintuplets was=2 0born in Paducah .

*Carrie Nation the spokesperson against rum, tobacco, pornography, and corsets was born near Lancaster in Garrard County.

*1926 - A Hot Brown is a hot sandwich originally created at the Brown Hotel in Louisville, Kentucky, by Fred K. Schmidt.

*1934 - Cheeseburgers were first tasted at Kaelin's Restaurant in Louisville.

*1937 - The first Wigwam Village Motel, with units in the shape of a 'teepee', was built by Frank A. Redford in Cave City .

*The "Old Fashion" drink was created in Louisville KY

*The world's largest baseball bat, a full one hundred twenty (120) feet tall and weighing 68,000 pounds, can be seen at the Louisville Slugger Museum in Louisville (Jefferson Co.).

*Chevrolet Corvettes are manufactured only in Bowling Green.

*Covington (St. Mary's Cathedral-Basilica of the Assumption) is home to the world's largest hand blown stained glass window in existence. It measures an astounding 24 feet by 67 feet and contains 117 different figures.

*The world's largest crucifix, standing at sixty feet tall, is in Bardstown (Nelson Co.).

*Fort Knox holds more t han $6 billion worth of gold - the largest amount stored anywhere in the world.

*The JIF plant in Lexington is the world's largest peanut butter producing facility.

*Kentucky has more resort parks than any other state in the nation.

*Middlesboro is the only United States city built inside a meteor crater.

*Newport is home to The World Peace Bell, the world's largest free-swinging bell.

*Pikeville annually leads the nation (per capita) in consumption of Pepsi-Cola.

*Post-It Notes are made exclusively in Cynthiana, Ky.

*Shaker Village (Pleasant Hill) is the largest historic community of its kind in the U.S.

*Christian County is 'wet', while Bourbon County is 'dry'. ('wet 'sells liquor; 'dry' does not)

*B arren County has the most fertile land in the state.

*Lake Cumberland has more miles of shoreline than the state of Florida.

*Kentucky is best known for its beautiful blue grass.

*Cumberland is the only waterfall in the world to regularly display a Moonbow. It is located just southwest of Corbin.

*Thunder Over Louisville is the opening ceremony for the Kentucky Derby Festival and is the world's largest fireworks display.

*The only monument south of the Ohio River dedicated to Union Soldiers who died in the Civil War is located in Vanceburg.

*High Bridge located near Nicholasville is the highest railroad bridge over navigable water in the United States .

*The Cathedral Basilica of the Assumption in Covington has 82 stained-glass windows including the world's largest hand-blown one. The window measures 24 feet wide by 67 feet high and depicts the Council of Ephesus with 134 life-sized figures.

*The Lost River Cave and Valley Bowling Green includes a cave with the shortest and deepest underground river in the world. It contains the largest cave opening east of the Mississippi .

*The Kentucky Derby is the oldest continuously held horse race in the country. It is held at Churchill Downs in Louisville on the first Saturday in May.

*Kentucky is the horse capitol of the world.

*Mohammed Ali, The Greatest and most recognized face in the world was born in Louisville, KY.

*There are only three things that matter in the state of Kentucky - Bourbon, Basketball, and Horseracing.

**A true Kentuckian will send this on!!

Or post it on their blog...

mortgage rate drop...

You probably aren't reading this here first but mortgage rates are down to 4.5% for a 30-year fixed rate loan. Incredible...rates haven't been this low since the 1940s and my local sources tell me that they should stay this low for at least 6 months. Combined with the first-time home buyer tax credit, this is great news for those both on the fence about making a first purchase and for those that currently own a home in the price range that would appeal to first-time buyers. Finally, the time to sell may be back upon us!

A little optimism...

The following excerpt came from a newsletter I receive weekly from Bluegrass Mortgage. I thought this was worth passing along to share...

A Simple Business Lesson
This newsletter focuses on real estate and mortgage lending, and both are businesses. For anyone interested in learning a few valuable and applicable business lessons, consider reading Warren Buffett's annual letter to Berkshire Hathaway shareholders (free to everyone at berkshirehathaway.com), which was released last week. Berkshire has businesses in many sectors of the economy (including housing and lending), so Mr. Buffett has a lot to say. More important, what he says is said in witty, insightful prose that anyone – business oriented or not – can understand.
Mr. Buffett has rarely been wrong with his longer-term prognostications, so it is worth noting that he, like us, remains an optimist. “ America has had no shortage of challenges,” he says. “Without fail, however, we’ve overcome them.... Though the path has not been smooth, our economic system has worked extraordinarily well over time. It has unleashed human potential as no other system has, and it will continue to do so. America ’s best days lie ahead.” It might be hard to fathom at this moment, but Mr. Buffett will be proven right, and he'll be proven right because of all of us working to make it right.

344 Madison Place -- Open Sunday 2-4

Sunday from 2-4, I'll be enjoying myself at 344 Madison Place! One of my favorite Lexington homes which I'm so proud to have listed. Not only is it in one of my favorite downtown areas -- Historic Woodward Heights -- it has one of my favorite kitchens, favorite baths and simply the best porch and deck for entertaining. The stunning millwork in the formal dining room is absolutely amazing.

Tax Credit Stimulus

I can't believe I haven't posted since Valentine's Day. And some really exciting things have happened in the real estate world. Most significantly, the passage of the $8,000 Tax Credit Stimulus for first-time home buyers is fantastic. For buyers who haven't owned a home in the last three years, they will receive an $8,000 tax credit that does not have to be re-paid as long as they own the home for the three years. This is a significant improvement to the $7500 tax credit that was passed last year which was the equivalent to an interest-free loan.

So what are some implications?

1. If I were renting and felt comfortable that I were going to stay in an area for at least three years, there couldn't be a better time to buy. Between our current low interest rates, a great inventory of homes at slightly depressed prices AND the tax credit, there really couldn't be a better time to buy.

2. If I were a parent of a college student or grad student (which I actually aspire to) in an area that I felt like my child was going to stay for a time period, I would seriously consider helping them make a purchase of a home to live in while they are in school.

With the income tax mortgage deduction and the affordability of interest rates, for those who have the credit to buy a home renting really makes no sense.

I have a great FAQ about the tax credit stimulus which I'll be posting to my website www.GwenMathews.com if you'd like more information or feel free to email or call me directly.

Happy Valentine's Day

Enjoy the day by going out and falling in love with a new house! The market is finally picking up and I'm seeing lots of activity on all my listings.

Have a great day!

pdf995 -- great free software

If you know me at all, you probably know that I love a good deal -- whether it's negotiating a great deal on house for my clients or on a pair of shoes! One of my favorite "free" finds is pdf995 which is free software that converts any document to a .pdf file. I use it all the time in real estate to convert contracts, repair requests, etc. into .pdf files. It's really simple to download from the www.pdf995.com website and while there's an option you can pay for, I've been using the free one successfully for well over a year.

Housing Bill incentives

Below are two news article links for the proposed $15,000 homebuyer tax credit recently added to the US Senate’s version of the economic stimulus bill. In light of the constantly fluctuating status of our economy, the proposals and options to help revive the economy change every day. Helping the housing/homebuyer market seems to be a bill cornerstone, though, that both parties and the executive branch all hope to keep a focus on.

http://www.google.com/hostednews/ap/article/ALeqM5gk-O6w-BLfUXwpefbNc-d3Z2X6-QD965PNM80

http://www.nytimes.com/2009/02/05/us/politics/05stimulus.html?hp

Additionally, a 4% fixed 30-year mortgage plan was defeated:
http://www.google.com/hostednews/ap/article/ALeqM5gFSu3GqniGVvNSQKACosXSPETSNwD965NDUO0

While I am not, in any way, asking you to form an opinion or follow an opinion that I have of a proper solution, if you are of the inclination to get involved in the political process and you do feel this type of home buying stimulus would be beneficial to our business/market, now would be a good time to send an e-mail, make a call, etc., to our respective Senate & US Representative to encourage this measure.

Clean Steel

One thing I'll say for lots of snow days (and working from home today with a sick child) is the opportunity to catch up on some of my professional magazines (as well as cleaning out every closet in the house)So far, I've caught up on a few back issues of Realtor magazine, and the Real Estate Professional.

I came across one of my favorite pieces that Realtor magazine does every year: it's their story on best home improvements for the resale buck. As usual, kitchens and baths have the highest rate of return. I also found it interesting that the expectation is to have stainless steel appliances across every price level. Don't you wonder if one day we'll look at a kitchen with stainless steel appliances and think the same things we do now about harvest gold? Anyway, if you're replacing appliances anytime soon and think you might be selling in the near future, stainless steel might be worth the extra dollar difference. However, in replacing my own refrigerator in the not distant past, I discovered Clean Steel which looks exactly like stainless except it costs less, doesn't show fingerprints and VERY important in our house...magnets will stick to it! Definitely worth checking out! I have heard that you need to be careful mixing Clean Steel appliances with stainless steel in that the difference in surfaces can be noticeable.

By the way, if you are putting your house on the market, take the magnets off the refrigerator. All of them.

Not the end...

of the snow anyway! I ventured out to show property in the snow this afternoon and nearly had a second collision in two weeks as my poor battered minivan went sliding backward down an icy driveway into Stone Road. Somehow, I think this one would have been my fault. Apparently, snowy afternoons when school's being called off aren't the best times to show property. You track a lot of snow in people's houses too! Not very nice.

Want to keep up with Kentucky weather? I've become a huge fan of http://www.weather.com and the Fayette County public school website: http://www.fcps.net for school closings. Normally, I think talking about weather's pretty boring but we don't seem to be talking about much else these days.

As much as I love winter, I'm starting to think Spring.

Back to real life...

It looks like our impromptu weather vacation is finally over in Lexington. It's back to business as usual in the Bluegrass with a handful of Fayette County schools that don't have power but the rest of our children back in class. A few Chevy Chase friends mentioned at Cassidy this morning that they are still out of their houses.

I have a few pictures I'll post later of the "branch" piles we collected at our house and I think I'll be waiting for my tree guy for a few days since our needs aren't critical like so many other people.

More ice storm update from Western Kentucky

More from my brother Chuck in Paducah regarding their situation is below. So many people in Lexington are still out of power and while they are coming steadily back on line, a number of my friends have been told it may be mid-week to next week before their power is restored. At least the weather is beautiful today. I'll be heading out to do some limb clean-up myself shortly!

Things are a little more calm here but as people do get some power on, the ones that don’t have power become very angry. For those who don’t know, all power companies work by restoring (our jargon for rebuilding and repairing) power to the main lines that come from the generation plants to each of many substations for each power distributor. These transmission lines often cut through rough terrain and typically do not run along roads. We have spent a lot of effort helping to locate problems with those lines (which are technically the responsibility of the generation and transmission company) by using 4-wheelers and other means. We were able to help secure a helicopter after the second day to help workers spot problems. Prior to that time all air travel had been suspended. It is interesting that a lot of transmission lines are repaired by people suspended from harnesses from the helicopters. Not something I would want to do sixteen hours a day even in GOOD weather conditions.

Our transmission lines are supposed to be largely restored today. Our next task (going on simultaneously) is to restore the many large distribution lines. These feed into smaller lines which are repaired next and so on down to the individual lines serving houses. We all do this in an effort to secure the maximum good for the maximum amount of people. Somewhere in the scheme we deviate to secure service first to critical needs. These critical needs can include hospitals, nursing homes, hotels (for guest workers) restaurants (to feed guest workers) and people with medical needs. What often happens is an area or subdivision is restored but there is a problem with a single service that prevents that restoration. Our crews (and every other utility crew) move on to the next “big” line rather than repair that single service. In some cases these methods mean that a neighbor may have power weeks before problems affecting a single service can be resolved. It is unfortunate, but it insures that the maximum people are restored. Nearly all our linemen (they are all men) are stopped several times a day to be told that “if you could only repair this one pole or replace this one fuse I could have service.” These stops add up to more than an hour a day for a typical line crew which prevents them from working on what they need to be working on.

Another problem is that it requires electricity to make electricity and as power plants have been down they are not able to ramp back up for hours and in some cases days. We understand that is a part of TVA’s problem, they are afraid that the jolt of restoring large lines will in laymen’s terms kill the system and cause wild power swings. It is prudent to leave your computers and other expensive electronics unplugged as the jolts run through the system in the next week.

Our personal situation: We live on a line that feeds the hospital in Mayfield and the only high school in the county. The high school was designated a shelter and power was restored last night. We were beneficiaries of that restoration and now had power, one of the very few who do in Mayfield. Angela was able to go to the high school yesterday and find her 80 year old aunt who has been there with 650 other people for several days. She is now occupying our guest bedroom until power is restored to her house and house repairs are made. She said after a couple of days they were all lined up and order to take communal showers from the stink….. Kind of sounds like a concentration camp to me. Having been at the office since Tuesday, I went home yesterday afternoon around 3:00 and was able to cut up parts of the many trees that have fallen. My back now aches and I’ve discovered that my baby chain saw (even though it is a Stihl) is no match for a three foot diameter tree trunk. I’m going to see if I can “borrow” a bigger one from work in a few weeks when this all slows down. I’m salaried so I get no compensation for these hours so I hope use of a chain saw might be a perk I might hope to secure…..we’ll see. I have eaten well. We have hot good food 24 hours a day to feed linemen who come in at all hours of the day to replenish supplies. We are buying cartons and cartons of Hostess products and candy bars. I’ve noticed that not a single worker wants anything remotely healthy, but they are almost all lean so I suppose it must get worked off in a sixteen hour day. Several people who gather these supplies have remarked that they feel diabetic from just transporting the food. Like I say, food is good, the other day we had pans and pans of Rafferty’s ribs and chicken fingers. Olive Garden was for lunch that day and much other good food. Some restaurants have been very nice and thrown in free food or at least delivered while others have maybe taken advantage of the situation. Of note to family members who work at Rafferty’s, they charged us mandatory gratuity for take out and then would not even help carry the food to our vans.  We have managed to secure running tabs at the local Logan’s, Rafferty’s, O’Charley’s and Applebee’s and workers just have to show their badge to order what they want. All these are close to the hotels so they can get a nice meal and get their six hours of sleep. I have heard many comments from workers who worked Katrina and Gustav and they all talk about how great Midwest hospitality is compared to the a**holes in New Orleans. Paducah and the surrounding areas remain under curfew at night but it is lifted for people supplying emergency services or those providing services to the workers.

We expect to have the majority of our people on this week with some stragglers possibly taking two or three weeks. Other systems are still saying three to four weeks. Water service has been largely restored as those facilities received priority treatment or the Army provided generators. There have been a few cases of fatalities, mostly from carbon monoxide poisoning or failure of medical equipment. The National Guard is supposed to go door to door checking on people; I am afraid they will find a few more. Fortunately, we have had no deaths on our system and no injuries to our workers. This is a very dangerous time as people often will hook up generators incorrectly feeding current into the system and killing our line workers. We lost one in the late 80’s that everyone still remembers and there was one lost in last year’s wind storm in Louisville.

There is a need for trained medical workers in the many shelters. Many in the shelters have medical needs and there is a lack of medicine and personnel to treat them. All our hospitals have reached full census and are struggling to disgorge the less sick. Many of the regional hospitals are trying to transport their patients to the larger ones (Like Paducah’s) in the area as their power and water situation remain dicey. Banks have been reopened. Many of the larger chains have set up mobile offices with their own generators. Most businesses refuse to accept credit cards with phone lines down and cash is needed.

If people are interested, I will post more later. You are welcome to redistribute this or post it on your blog but I ask you to please edit any obvious grammar or spelling errors. I don’t have a lot of time to proof read.


Chuck Williamson, CPA
Vice President - Finance & Accounting
Jackson Purchase Energy Corporation
P.O. Box 4030
Paducah, KY 42002-4030
270.441.0825 Direct
270.442.5337 Fax

Update from Western Kentucky

My brother Chuck works for the Jackson Purchase Energy Co-op in Paducah -- about 4 hours from Lexington. He just sent our family this update as we hadn't heard from him in a few days. I know some of you all may have friends in the area and would appreciate the update. Sounds horrific.

Just wanted to let you guys know the status down here. Angela and Josh are fortunate enough to have power this morning. They are one of the only people in Graves County with power. We are fortunate to live near the hospital and County High School. The high school is a designated shelter and power restoration was a high priority for them and the hospital. They are telling the rest of the county to plan for 30 days without power and more if an individual service is affected. I refer to Josh and Angela as they because other than going home for a couple of hours to check on them I have been here at the office……sleeping for an hour or two on the floor of my office. We lost nearly all our trees but none hit the house. I have probably a week worth of chain sawing to do when things quiet down. Joni and Sara are in the city and if they aren’t on, they should be within the week maybe even in the next day or so.

We are hoping to have a majority of our system on by the end of next week but it will probably be 30 days for some folks. We alone have 150 extra workers from the gulf shore in Alabama to Michigan. Some of the folks we helped out in Louisiana are here to return the favor. We normally run about 30 line workers so this is quite a lot of people to house and feed. Plus many of our regular workers have had trees damage their house…..work comes first so they have been having their spouses and family manage as best as they can. We secured a load of generators for their families so they can get some power to keep some things going without having to worry about closing off their houses where trees have come through.

I just had the President of our bank hand deliver some cash to us……nice to be able to call his cell phone, tell them we need cash to feed people and have them open up the bank and bring the money to us.

No injuries yet with our workers; probably because no power is getting to us. Only a few people that have been found dead in their house from exposure or failure of medical equipment. 911 was down for several days so medical cases weren’t able to summon help and in some cases they couldn’t be reached because of trees blocking roads. Even helicopters were banished the first couple of days because of weather conditions. Some veterans of Gustav and Katrina are saying this is much worse, save the mostly lack of home damage.

The judge executive for one of our neighboring counties, Crittenden, has told people to close their houses and not come back for two months. Hard to believe people’s jobs will be carried that long and the businesses there will be hard pressed to survive.

Chuck Williamson

Chilliness!!!

I'm starting to feel really bad right now about telling people moving to Lexington about our mild winters! It's a little chilly and especially chilly if you haven't any electricity which seems to be a theme around town this week. At least we aren't in Paducah! We're still happy at my house (which we haven't left in days...) and while we've lost several trees our power is still going. Thank goodness for that as we were the last street in Lexington that came back on-line in the ice storm of 2003! Lots of people in Ashland Park and Chevy Chase area are without power and section of Downtown has been out as well.

I was noticing that my least favorite tree appears to be at an odd angle right now and I'm keeping my fingers crossed that if I lose another tree that it's the one to go. I might send the kids out to help it along. If it comes out by the root, I won't have to pay my tree go to grind the stump this way!

So...one thing I always say about living in Kentucky is that we have all four seasons. We've definitely got winter covered this year!

Ice + Snow + Wind = Crack!

That's what Mary Rollins said anyway. Kentucky.com has lots of photos of Ice Storm 2009 but I thought I'd post a few pictures from the Mathews house and Lakeside neighborhood. We're on Day 3 with no school and amazingly having more fun everyday. We may never go back to work. Of course, it's a lot more fun with electricity and heat than it was in 2003 when we had our last ice storm. We were 8 days without power and, frankly, that wasn't nearly as much fun. Today, we're enjoying a Harry Potter movie marathon, a toasty fire and I just lost at Monopoly to Will. I knew I shouldn't have traded Atlantic for those Railroads but I'll do anything for a kiss from Willy! We have left the house but only to take the loop around our neighborhood.

http://www.facebook.com/album.php?aid=61458&l=85bda&id=572718665

As you can see in these pictures, we did lose a major tree in the backyard, a big chunk of fence and my most beloved maple tree has suffered some serious damage.

And, word just in...Fayette County schools closed for Thursday!

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RESIDE Magazine

Check out the link to the right for the on-line version of Sotheby's RESIDE Magazine. It's fantastic.

Will said he wishes we had $44 million dollars so we could buy the island in Whitefish, Montana...me too!

More about Sotheby's

Sorry it's been a week since my last posting regarding my brokerage change to Bluegrass Sotheby's International Realty (BGSIR). So many friends have sent so many nice notes (and some really pretty flowers to the office...thanks Kathy & Marc). It's a really exciting opportunity and has generated lots of questions from so many people.

Here's one question that I keep getting and seems really important to answer! Will I still be selling the same kinds of properties and helping the same clients I've been serving the past four years? Absolutely. One of my favorite things about BGSIR is the philosophy is that Sotheby's is "about service not a price range!" While I'm sure not opposed to selling a $44 million dollar island, BGSIR is absolutely about the very nice home at 1321 Dale Drive that's perfect for the first-time home buyer. I believe that every client deserves the highest level of service and care whether they're Bill Gates or the UK med student looking for a $75,000 townhouse!