Thursday, June 18, 2009
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!
Thursday, April 23, 2009
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.
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...
*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...
Friday, March 20, 2009
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!
Wednesday, March 11, 2009
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.
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.
Tuesday, March 3, 2009
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.
Friday, February 27, 2009
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.
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.
Saturday, February 14, 2009
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!
Have a great day!
Wednesday, February 11, 2009
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.
Monday, February 9, 2009
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.
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.
Thursday, February 5, 2009
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.
Tuesday, February 3, 2009
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.
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.
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