Category: Home Insights

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Home Insights Home Owning Tips Home Selling Tips Newsletter Featurettes

The Problems with Clutter Copy

The urge to de-clutter often stems from a simple annoyance, like stepping on a Lego or running into furniture that’s too big for the space. But in order to really commit to a more minimalist lifestyle, you’ll want to consider the deeper ramifications of having too much “stuff”.

Here are some insights you can use for downsizing your belongings, and how doing so can affect everything from your expenses to your well-being….to selling your home.

Problem One: Clutter is expensive

For many of us, a successful shopping trip is one where the cart is filled to the brim with good deals — not one where we successfully avoided the tempting sale section and bought only what we needed. Once the habit of getting a good deal takes hold, it can seem impossible to say no to another knick-knack or a second set of novelty wine glasses — or to see that these items will be a waste of money in the long run.  Of course, it isn’t just the buying of “stuff” that makes it expensive. Storing it can also get pricey. Too many people are paying thousands of dollars per year to store items they’ll never use or see again.

Problem Two: It isn’t making you happier

If your cluttered home stresses you out, you’re not overthinking it and you’re not alone. A recent UCLA study shows that women with a high density of household objects feel more stressed than those with less stuff.  It’s not hard to see why: Well-maintained homes are the ideal portrayed in every magazine and movie, but the expectation to buy more stuff also weighs heavily on most Americans. The end result? Families purchase things they don’t need and don’t have space for, then feel stressed that their houses don’t resemble the ones portrayed on HGTV.

Problem Three: It makes it harder to sell your home

Today’s homebuyers expect to see de-cluttered homes with clean walls, minimal décor and extra storage.  To list a home that will appeal to the masses, most sellers may need to depersonalize by boxing up personal items and photographs (and maybe change up furniture arrangements) — but sellers with overly-cluttered homes may have to look into investing in a storage rental unit to get their home in peak selling condition.

 

Considering selling?

Decluttering is usually the first step to selling your home, and we can help advise you on that – and the rest of the process.  Call your Rector Hayden Agent today!

 

 

 

 

 

 

Categories
Home Buying Tips Home Insights Newsletter Featurettes

Can I Get a Mortgage if I have a Low Credit Score? Copy

Mortgage with Low Credit Score

Many of today’s first-time buyers worry about their credit scores. Whether you have student loans you just can’t shake or you’re still plagued by a few missed payments from a college-era utility bill, don’t assume you will be locked out of the market forever due to your FICO score.

Here are insights you can use as you determine if you are eligible for a mortgage despite your low credit score.

If you have a low credit score, pay higher interest rates

Pay higher interest rates

You’ve likely heard that interest rates remain low by historical standards and you may be counting on the low rates you’ve seen quoted online. It’s important to remember that mortgage interest rates vary for each buyer and are closely tied to the risk they represent for the lender.

In other words, those with a lower credit score can still qualify for a loan, but they may have to pay a higher interest rate. Borrowers with a credit score of 740 or higher are likely (but not guaranteed) to obtain the lowest mortgage rates available. Meanwhile, those with a lower score could be approved at a higher interest rate.

 

Consider FHA loans

Buyers with low credit often opt for a Federal Housing Administration (FHA) loan. FHA loans are designed to act as “helper loans” to those who earn enough to pay a monthly mortgage, but lack the long-term credit history that would prove they are low-risk borrowers. 

As a result, FHA loans are often approved for borrowers with lower credit scores and they may require smaller down payments than conventional loans. Buyers with a credit score of 580 or above may be eligible for a home loan with a 3.5 percent down payment.

 

Show your credit score is on the mend

While your credit score may seem like a hard-and-fast number that will determine the fate of your approval, the reality is that two people with the same score can appear very differently to lenders.

Consider these two scenarios:

After losing their job during the Great Recession — and making a few late student loan payments as a result — Candidate A has not missed a payment of any kind in 25 months. They have a solid job history and their monthly rental payments to their landlord are comparable to what they would pay in a mortgage payment. As a result of their hard work and on-time payments, Candidate A has a credit score of 625.

 

Candidate B is forgetful and they have paid two car payments late so far this year. They carry a high balance on their credit card from month to month and tend to pay the required minimum at billing. They have changed jobs three times in the last two years but they pay a monthly rent that is comparable to what they would pay for a mortgage loan. As a result of their high credit card usage and shaky payment history, Candidate B’s credit score has slipped from 700 to 625 in the last year.

As you might imagine, Candidate A would likely be considered a less risky loan prospect than Candidate B — even though they have identical credit scores.

 

What happens if I’m not approved?

If you aren’t approved for a mortgage, it’s time to work diligently on increasing your credit score. You can also speak to a Rector Hayden Mortgage loan officer to determine how you can get on track for approval and formulate a plan to put you on the path to home-ownership.

 

 

Categories
Home Owning Tips Newsletter Featurettes

Prepping Your Home for Winter

Prepping Your Home for Winter in Kentucky

Now that November is here, it’s time to prepare your home for cold weather. These steps will help lower your utility bills, protect your investment and prepare your home for this year’s winter.

 

Clean your gutters early and often

Don’t Try This… Please be safe.

It’s hard to know when the first snowfall will come, so be sure to keep your gutters free of debris as the autumn leaves fall. Ask your agent if they have any recommended service providers so that you stay safe!

 

Prep the lawn

Rake and bag your leaves at least once per week during the fall season. Your local garbage collection may also pick up yard debris. Talk with your Rector Hayden Realtor about what services are available in your neighborhood. Be sure to rake briskly so you remove any moss or deeply-entrenched debris that could impede drainage over the winter, causing ice or other hazards.

 

Check windows and doors for air leaks

According to the Environmental Protection Agency (EPA), the average household spends more than $1,000 on heating and cooling costs annually. One way to lower your energy bills is to ensure that your heat doesn’t leak out as cool temperatures arrive.

Check for leaks by holding a lit candle to your windows, door frames, baseboards and the vent leading outside from your dryer. If the candle flickers as you run it past the area, fill in the leak with caulk. Your Rector Hayden Realtor may also have recommendations for professionals, should your leaks be severe.

 

Add insulation and seal off attic

Many homeowners ignore their attics, especially if they are unfinished. Attic leaks are extremely common, so insulating your attic can immediately lead to lower energy bills. Attic insulation also has the highest return on investment of any local home improvement project, so you may even earn back more than you spend on this project over time!

Still not sold on the benefit of attic insulation? Consider this: When hot air escapes from your attic, you put your home at risk for ice dams, which can be costly and nearly impossible to fix. 

Talk to your Rector Hayden Realtor about professionals that could affordably insulate your attic for you, or offer other winterization tips for your home.

 

Upgrade to a smart thermostat

If you’re still turning the thermostat down when you go to bed and up when you get home from work, consider upgrading to a smart thermostat. These devices can learn when it’s safe to lower the temperature and when to boost the thermostat because everyone is at home after a long day. Nest is one of the most popular smart thermostats, but there are plenty of other options on the market. Smart homes are the way of the future!

 

 

Still unsure about what you should do to winterize your home? Reach out to your Rector Hayden Realtor about winterization and home care tips! 

 

 

 

 

Categories
Home Insights Housing Market Report Newsletter Featurettes

November 2019 – Monthly Housing Market Report

Our local housing market continues to be very active!  See all the latest info and trends, in our exclusive Monthly Market Report!

 

How can a homebuyer compete in this market?

  • Work with a savvy, professional Realtor
  • Be prepared to move quickly when you are interested in a home
  • Set up saved searches on your Rector Hayden Agent’s website, and get alerts when new listings matching your criteria
  • Get pre-approved for a mortgage through Prosperity Home Mortgage, LLC
  • Be prepared to compete with multiple offers

 

See all the latest info and trends, in our exclusive Monthly Market Report!

 

 market report with shadow

 

 

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Local Events Newsletter Featurettes

So Much to be Thankful for – and to Enjoy!

Lexington Events - November 2017

November provides us with many great activities and events in Lexington and Central Kentucky!  Here are some that you won’t want to miss.

 

National Horse Show

Alltech Arena
October 25 – November 3

The National Horse Show is the oldest continually held horse show in the United States. The National Horse Show offers competition for hunters, equitation, and show jumpers.

Details

Night Market

Recurring monthly, 1st Friday until December 6

A monthly pop-up open air-market/street festival held on the first Friday of every month May through December.  Night Market highlights the creativity of local neighborhood businesses, artists, and nonprofits and brings people from all over the region to Lexington’s Northside.

Details
  • Dates: May 3, 2019 – December 6, 2019
  • Recurrence: Recurring monthly on the 1st Friday
  • Location: 700 Block of Bryan Avenue
  • Phone: (859) 379-2049
  • Time: 6:00 PM to 10:00 PM
  • Price: Free

Beyond Grits Culinary Walking Tours: The Kentucky Classics

Recurring weekly on Saturday until December 28
Lexington Visitors Center

Led by local foodie, Alex Cain, spend the morning on a culinary walking tour through downtown Lexington learning about Lexington’s deep agricultural roots and booming food scene. With inventive and field-to-fork cuisine at every turn and local chefs on a mission to showcase the unique southern flavors in and around Lexington, this city is undergoing a culinary movement. All tours begin at the Lexington Visitor Center and end at the Lexington Farmers’ Market. Alex will share information about Kentucky food traditions and historical facts while visiting some of the best restaurants in downtown. At most of the stops you will hear from the chefs themselves while enjoying locally-sourced, bite-sized offerings.

Details

Wise Bird Trivia Mondays

Recurring weekly on Monday until November 18
Wise Bird Cider Co.

Head out to Wise Bird Cider in the Distillery District every Monday for trivia! Free to play, fun to play – join in on the general knowledge weekly show excitement while enjoying some yummy cider. 

Details

Woodsongs Old-Time Radio Hour

Recurring weekly on Monday until December 16
Lyric Theatre & Cultural Arts Center

Join in the fun of a music show taped live and broadcast around the world. Audience must be seated by 6:45 pm.  Show starts at 7:00 pm. Please call to confirm the show if the Monday you would like to attend falls on or near a holiday. 

Details

UK Football vs. University of Tennessee

November 9
Kroger Field

Books & Brews

November 14
The Mane on Main

Think you know books and literature? Prove it, and you could win a gift basket from West Sixth Brewing, or a gift card from Joseph-Beth Booksellers. Join Local Action Trivia to test your knowledge of books, authors, literature, and movie adaptations at the first annual Books & Brews Trivia, a competition made for book nerds. Prizes and bragging rights will be awarded.

Details

26th Annual Southern Lights

November 15 – December 31
Kentucky Horse Park

The 26th Annual Southern Lights includes a self-guided four mile journey through a dreamland of fabulous light displays including never-before-seen displays and traditional favorites. Following the driving tour, families are encouraged to park and visit the holiday craft merchants, the KHP Gift Shop, seasonal entertainment and activities for children, petting zoo, pony and camel rides and so much more!

Details

38th Annual Kentucky Book Fair

November 16
Alltech Arena at the Kentucky Horse Park

Fair

Nearly 200 regional and national authors will be in attendance, including Jim Acosta, Elliot Ackerman, Scott Pelley, Casey Cep, Jessica Wilkerson, Rosemary Wells, Frank X Walker, and Wendell and Tanya Berry. Panel discussions and author presentations will take place on two stages throughout the day.

Details

Truck-a-Palooza

November 16
1631 Old Frankfort Pike

Kids of all ages are invited to this family-friendly event, where they can learn about and explore more than 20 trucks from the Department of Environmental Quality and Public Works. Meet the drivers who help keep Lexington running, plus see trucks in action during the “road-eo” skills challenge. Stop by for crafts, games and giveaways throughout the day! Enter Via Jimmie Campbell Dr.

https://www.lexingtonky.gov/trucks

Details
  • Presented By: Lexington’s Department of Environmental Quality and Public Works
  • Dates: November 16, 2019
  • Location: 1631 Old Frankfort Pike
  • Time: 1:00 PM to 4:00 PM
  • Price: Free

 

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Home Insights

6 Remodeling Mistakes That Hurt Resale

Overly eager buyers can sometimes sink more money into home improvements than they can reasonably recover at time of resale, which can lead to disappointment and potentially even financial hardship.

Click the link below to see some examples that could possible end up hurting a property’s resale value.

Read more here:
http://www.onlinehsa.com/mediacenter/19-08-26/6_Remodeling_Mistakes_That_Hurt_Resale.aspx
Categories
Home Buying Tips Home Insights Newsletter Featurettes

Considering Buying a Condo or Townhouse?

Here's What You Need to Know About Buying a Condo or Townhouse

Here’s what you need to know

Any homeowner shoveling several inches of snow, or addressing roof damage caused by a storm, has probably experienced thoughts of buying a condo or townhouse. The principal benefit of these types of properties is that much of the maintenance is handled by an Association — or in other words, someone other than you!

Should you decide to buy a condo or townhouse, you’ll want to review all the Association rules, policies and all documents carefully. Here are a few insights on what you should look for.

Look for potential costs of owning the unit

The freedom from certain maintenance obligations doesn’t come free of cost. Here are some things you should look for to better understand those costs:

  • Check the documentation to see what the regular Association fee is, and the due date. Typically, fees are charged monthly.
  • See if there are any plans for large improvements or repair projects. A share of these costs could be assessed to you in addition to your typical monthly fees.
  • You should be given a current budget for the Association. Review the budget to determine if there are sufficient reserves to handle unexpected maintenance costs.
  • Understand what the Association is required to maintain, and what is considered your responsibility as an owner.

 

Look for rules that may affect how you wish to use your home

Unlike a traditional single-family home, there may be restrictions on how you can use your townhome or condo. Some key restrictions may include:

  • A prohibition or limitation on pets
  • Restrictions on how your unit can be altered or improved
  • Limitations on renting the property
  • Not allowing the property to be used for a home business

The documents you receive as part of your townhome or condo purchase contain vital information.  Be sure to take the time to read them, so you can ensure that you’re able to use the residence as intended.

 

 

Get an idea of what your perfect condo or townhouse may look like!
Browse Rector Hayden’s current condo and townhouse listings:
http://www.rhr.com/condos-and-townhouses-for-sale.aspx

 

Categories
Home Insights Home Selling Tips Newsletter Featurettes

How to Sell Your Home for Top Dollar This Fall

How to Sell Your Home This Fall - Rector Hayden Realtors

Stage for success

Fall is here!  With it comes the fresh autumn air, colorful leaves, front porches adorned with pumpkins, gourds and corn stalks—and a great opportunity to sell your home. In fact, you may be surprised to know that more than a quarter of real estate activity takes place in the last several months of the year!

While many properties — especially those in lower and mid-level price points – continue to sell quickly, sellers in ALL price ranges are still competing with one another. Fortunately, a well-staged home can give you a leg up on the competition and help you get top dollar this fall.

Exterior adjustments

First, focus on the exterior. Keep your lawn freshly cut, and rake and bag leaves daily. Play up autumn by using potted plants and flowers like mums, which come in gorgeous hues, as well as pumpkins and other gourds to give a front porch or steps extra curb appeal.

Steer clear of over-the-top seasonal decorations (think scarecrows, mummies, ghosts and goblins) that may turn buyers off and keep them from focusing on the attractive features of your home.

Interior additions

When it comes to the interior of your home, it’s important to keep it cozy but accessible. Remove photos and personal mementos so potential buyers can easily picture themselves and their belongings in the space. To keep your home looking warm and inviting, add soft blankets and pillows to the couch and light the fireplace if you have one.

Autumn temperatures can be unpredictable, so pay attention to forecasts in order to keep your home at a comfortable temperature to create a warm impression with potential buyers. The scents of fall—like apple-scented candles, cider or pumpkin spice—can be a nice addition to a kitchen or living area as well.

Lighting tips

For lighting, the key is to maintain a bright space that doesn’t look stark. During the day, keep your window treatments open to draw in fall’s natural lighting. At night, turn on side table lamps and overhead lights as well.

When it comes to evening showings, don’t forget to ensure potential buyers can easily view your home’s exterior and appreciate its appeal. Turn on pathway lights and other outdoor lights to make sure visitors are sure-footed.

 

Categories
Home Insights Housing Market Report Newsletter Featurettes

October 2019 – Monthly Housing Market Report

Our local housing market continues to be very active!  See all the latest info and trends, in our exclusive Monthly Market Report!

 

How can a homebuyer compete in this market?

  • Work with a savvy, professional Realtor
  • Be prepared to move quickly when you are interested in a home
  • Set up saved searches on your Rector Hayden Agent’s website, and get alerts when new listings matching your criteria
  • Get pre-approved for a mortgage through Prosperity Home Mortgage, LLC
  • Be prepared to compete with multiple offers

 

See all the latest info and trends, in our exclusive Monthly Market Report!

 

 market report with shadow

 

 

Categories
Events Local Events Newsletter Featurettes

October is filled with TREATS

Local scenic beauty, Keeneland racing, fall festivals, trick-or-treaters and more – there’s SO MUCH to enjoy in Lexington and Central Kentucky in October!  Here are some of our favorites.

 

The Kentucky Castle: Keeneland, Old Friends & Castle Royal Excursion

Kentucky Castle, Versailles
October 1, 9am – 1pm
October 8, 9am -1pm
October 15, 9am – 1pm
October 22, 9am – 1pm
 
 
You’re invited to a Kentucky royal excursion experience! Join a small group of guests as we board a luxury shuttle and leave at 9a for a guided tour of Keeneland. A celebrated national landmark with timeless beauty, guests are provided with a unique look at Thoroughbred Racing with morning workouts!

Autumn Gala by Gloria Deo Ballet

October 26, 4pm and 7pm showings
Pam Miller Downtown Arts Center, Lexington
All ages
 

REIMAGINE

Pam Miller Downtown Arts Center
141 E Main St, Lexington
11am – 8pm

REIMAGINE is an exhibition of art inspired by grade school children. Bidding opens August 9 and Gallery Hop/Final Bidding takes place on Friday, September 20th. All proceeds from silent auction of the collaborative originals will help provide arts-related resources for local KY public schools.

Lexington Hot Cider Hustle 5K

October 19, 8:30am – 12noonpm
Kentucky Horse Park
4089 Iron Works Park, Lexington

 
5K Run/Walk
 

The Price is Right, Live!

October 22, 7:30pm
Rupp Arena
430 W Vine St, Lexington

2019 National Horse Show

October 25, 8am – 6pm
Kentucky Horse Park – Alltech Arena

National Horse Show is the oldest continually held horse show in the United States; it includes competition for hunters, equitation, and show jumpers.

Trunk or Treat – Make-a-Wish

October 29, 5:30pm – 7pm
Make-A-Wish office
1230 Liberty Bank Lane Ste 300, Louisville
FREE

Celebrate Halloween with your local Make-A-Wish families, volunteers, and supporters. Bring the kids to trick-or-treat early with decorated themed trunks, participate in a wish family costumer contest and create a wish art.