Category: Newsletter Featurettes

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Events Local Events

10 Facts About the Kentucky Derby

The Kentucky Derby is a major festival and celebration – not just for Kentuckians

1. The first Kentucky Derby was run in 1875.

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2. The name “Run for the Roses” was coined by a columnist, New York sports columnist Bill Corum, in 1925 writing about the event and referencing the blanket of roses draped on the winning horse.

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3. In 1970, Diane Crump became the first woman to ride in the Derby.

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4. Only 6 women have ridden in the famed “Run for the Roses”: Diane Crump, Patti Cooksey, Andrea Seefeldt, Julie Krone, Rosemary Homeister and Rosie Napravnik.

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5. The Kroger Company has been the official florist of the Kentucky Derby since 1987. After taking over the duties from the Kingsley Walker florist, Kroger began constructing the prestigious garland in one of its local stores for the public to view on Derby Eve.

The event will take place on Friday, May 6th, at the Middletown Kroger store located at 12501 Shelbyville Road, in Louisville, KY. The best time for visitors to see the crafting of this year’s Garland will be from 4 p.m. to 11 p.m. on Derby Eve. Last year, more than 6,000 people came to see this all-night event.

 

 

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6. The Rose Garland on average weighs 40 pounds!

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7. Age is Just A Number: Alonzo “Lonnie” Clayton was the youngest jockey in Derby history to win a race. He was 15 years old when he won in 1892. The oldest jockey to win was Willie Shoemaker, who won the 1986 race at age 54.

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8. The Derby is routinely held on the First Saturday of May

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9. Take That Cloudy Skies! No Derby has ever been postponed due to weather!

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10. Only three fillies (young female horses) have won the Derby: Regret (1915), Genuine Risk (1980) and Winning Colors (1988).

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Want more fun Derby facts?
You can see 138 Different Facts about the Derby, courtesy of the official website: CLICK HERE


Sources:
www.KentuckyDerby.com; The Kroger Company; The Huffington Post

Categories
Home Insights Housing Market Report

It’s a Hot Housing Marketing in Lexington!

 

On April 26, Lex18, the area’s NBC affiliate, shared an informative story on the housing market in Lexington, Kentucky.
( Watch the video here: http://www.lex18.com/story/31825166/hot-housing-market-in-lexington )

“I have been in business 20 plus years. I have never seen it this busy,” said Linda Feck, a realtor at United Real Estate, in the Lex18 interview.

The interesting change in the market this year is not necessarily due to sales.  Home sales this season have been fairly comparable to this time last year.  It is actually the lack of homes coming on to the market that have created such an interesting situation.

“Almost everybody is having inventory problems, however there’s just not enough homes out there,” said Ty Brown.  Brown is the President Elect of the Lexington-Bluegrass Association of Realtors® and the broker/owner of Weichert Realtors.

One of Rector Hayden’s Platinum Production agents, Dicksie Ward, says her client’s listing sold in a matter of hours.  She had to cancel and turn away 20+ showings before the Multiple Listing Service could update and show the home as pending.

It’s officially a Seller’s market here in the Bluegrass.  If you’re thinking of listing, Rector Hayden agents would love to work with you.  Our company is #1 in the Central Kentucky area – and our agents pride themselves on being experts in all stages of real estate transactions.

If you’d like to speak with an agent on duty, feel free to call during business hours: 859-276-4811.
Or, Toll Free at 1-800-228-9025.
You’re also welcome to send an e-mail any time to clientcare@rhr.com.

Read more about the current housing market by looking at this week’s full Central KY Real Estate Report.  

Or, get the newest monthly report FIRST by signing up for our monthly Home Insights Newsletter.

Categories
Housing Market Report

Rector Hayden Housing Market Report

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It’s still just spring, but the local market is HOT


Our record number of sales so far in 2016 means we’ve had the pleasure of assisting over 1000 local home buyers and sellers with their real estate successes this year!  The Lexington/Central Kentucky market continues to be very strong, and average sale prices have increased slightly in many price ranges since last year.

With home inventory at a 10+ year low, and continuing strong demand from buyers, well-priced homes in good condition are selling relatively quickly — especially in the “sweet spot” of the market: $100,000-$400,000.  This is the most affordable range for the majority of buyers out there – and the range where over 70% of all sales occur.  Higher-priced homes are selling at a slightly slower rate — but overall, sales are occurring in ALL price ranges.

It’s interesting to note that there are over 1000 fewer homes on the market currently than at this time last year.  That’s a 25%+ reduction in just the past 12 months – and has shifted our local market from a “buyer’s market” (which it’s been for several years now) to much more of a “seller’s market”.

Whether you’re buying or selling, the GREAT news for everyone is that interest rates are at historic lows, there’s strong demand, there are still outstanding homes available in all price ranges – and because we live in one of the best areas of the country, real estate will continue to be a solid investment for the future!

Our monthly Market Report shows information for all of Lexington and Central KY, including:

  • • Overall market trends
  • • Number of homes on the market in EACH price range
  • • Number of homes selling in those ranges
  • • Average Sales Price
  • • The Top 20 Real Estate Firms
  • • And breakdowns by counties in our coverage area!

It’s the exclusive Rector Hayden Market Report!
Click the image below or browse the report through Issuu.com

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Categories
Home Insights Home Owning Tips Newsletter Featurettes

When a Tree Falls from a Storm, Who Pays for the Cleanup?

Recent Bluegrass spring storms have everyone asking…

Who pays for the damages caused by a fallen tree?

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It’s important to know that once a tree is down, homeowner’s insurance only comes into effect if there is property that is damaged. So if a tree falls cleanly onto the lawn, then the homeowner will have to pay for 100 percent of the tree removal costs. If a tree hits any property covered by the homeowner’s insurance policy, such as a driveway, fence or the house itself, then the policy will cover all repair and tree removal expenses, less the deductible.

That describes a scenario where a homeowner’s tree falls in his or her own yard – but what happens if the tree was rooted in your yard, but falls into your neighbor’s yard? If property damage is caused, your neighbor will have to file a homeowner’s insurance claim on their own policy.

If no damage is caused, and your tree falls clear into your neighbor’s yard, everything gets a bit stickier. Good manners dictate that you should, at minimum, offer to pay for some (if not all) of the removal expense.

Consider this: if valuable property of yours blew into your neighbor’s yard, you would expect to be able to retrieve it. This should apply to a not-so-valuable fallen tree as well – it’s still your obligation as it was something residing on your property. Besides, the discord that could come from ignoring the problem is likely worse than the expense of removing the offending stump and branches.

Having good neighbors often means being a good neighbor, so roll up your sleeves and extend a neighborly hand!

Categories
Home Buying Tips Home Insights Newsletter Featurettes

5 Tips to Compete in Multiple Offers!

Over the past few months, our local market here in Central Kentucky has seen its lowest inventory in over a decade. With a shortage of homes for sale in Lexington and Central Kentucky, buyers may find themselves in multiple offers in this market.

Common wisdom says that the highest offer will win every time, but the reality of multiple offers is a bit more complex. Here are insights you can use if you enter multiple offers when buying a home this year.

 

1. Assess the market

Your Rector Hayden Agent will help you identify if multiple offers are common in the homes, neighborhoods and price point you want to buy. If you’re hoping to purchase in the higher-demand areas and subdivisions in Lexington and Central Kentucky, it’s likely that you’ll need a multiple offers plan before you enter the market. Remember, real estate is all about location and local quality of life, so hiring a specialist who can advise you properly will be critical to making the right bid.

 

2. Go BIG to Get Home

While the highest bid isn’t the only consideration sellers make, you’re unlikely to get the sale if your offer is at the bottom of the heap. When making an initial offer on a home in high demand, your Rector Hayden Agent can help you make an attractive offer. Together, you can strategize on the benefits of making your best offer out of the gate — meaning you would walk away if the home still hit multiple offers — or offering below your “ceiling” in order to have leverage once other bids come in.

 

3. Nix the Contingencies

In a market where buyers have the advantage, contingencies are common. Buyers may make an offer that is contingent on the sale of their own home or on a passed home inspection. When sellers have multiple offers to choose from, they are unlikely to look at offers that include such contingencies. Provided the home is free of major issues, consider making a “clean offer.” This could be one way to appeal to a seller outside of having the highest offer.

 

4. Put Cash Down

Another way to impress sellers is to prove you can pay a substantial amount of money at closing. If you can afford a down payment of roughly 10 to 20 percent, the seller and their agent may feel more comfortable with you than another buyer who has less to offer up front. We’ll work with your mortgage loan officer to ensure you’re making a strong — but safe and comfortable — offer.

 

5. Offer Better Timing

One last way to stand out in multiple offers is to offer the seller a beneficial path to closing. If we know the homeowner is hoping to sell the home immediately, it would benefit you to offer a closing with a month or even a few weeks. If the seller is waiting on a new construction home that won’t be ready for 60 – 90 days, offer a delayed closing. When multiple bids are close, these types of generosities can make all the difference.

 

Are you ready?

Ready to enter this hot market? We can discuss the frequency of multiple offers in your selected area, then determine your strategy for standing out no matter what your budget. Reach out to your Rector Hayden Agent today to get started!

Categories
Events Local Events Newsletter Featurettes

Local Events We [❤] LOVE – May 2016

Local Events Header

There are so many great home-related and/or quality-of-life local events in the Bluegrass each month!
Here are just a few of the ones we’re looking forward to in May!

 
Rolex Eventing - 2nd only to the Olympics!

Rolex Three Day Event

Thursday, April 28 – Sunday, May 1 See website for specific times

The Rolex Three Day Event is the only 4-star three-day equestrian event in the Western Hemisphere. This is the highest level of competition, the same level of competition as Eventing at the Olympics. Known to fans as “The Best Weekend all Year,” this event at the Kentucky Horse Park offers something for everyone: the highest-level of equestrian competitors, tailgating, music, shopping, bourbon tastings, and more.

Rolex 3 Day Event Info

an amazing breakfast and celebrations

Derby Day / Breakfast at Keeneland

Saturday, May 7 gates open at 9 AM

Celebrate Derby Day at Keeneland Race Course for the 141st running of the Kentucky Derby!  With more than 1,000 televisions, easy access to wagering, great food and activities for the kids — Derby Day at Keeneland is a great place to share in the excitement of the Run For The Roses!

Keeneland Event Info

Mayfest Arts Fair - Celebrate art and heritage!

Mayfest Arts Fair 2016

Saturday, May 7, 10AM – 6PM
Sunday, May 8, 11AM – 5PM

Mayfest is a juried art fair held in with a focus on a casual, family-friendly atmosphere. Included are up to 100 Artist Vendors, Young Artists, Demonstrating Artists and Activity Artists – and performances by musicians, dancers, strolling performers and children’s activities.

Mayfest Arts Fair Event Info

Central KY Walk - put on your sneakers

Central Kentucky Heart Walk

Saturday, May 14, 8:30AM

The Heart Walk is the American Heart Association’s premiere event for raising funds to save lives from this country’s No. 1 and No. 5 killers – heart disease and stroke. Designed to promote physical activity and heart-healthy living, this event at Keeneland creates an environment that’s fun and rewarding for the entire family.

Central KY Heart Walk Event Info

The Mutt Strut - Walking the dog was never more fun!

Mutt Strut

Saturday, May 14, 10:30AM

Make plans to walk with and celebrate your pup at Coldstream Park to benefit the 5,000 animals the Lexington Humane Society cares for each year. Enjoy pet-friendly vendors, playtime at the dog park, games and giveaways, and mingling with fellow animal lovers!

Mutt Strut Event Info

LexArts Gallery HOP - Celebrate Local Artists

LexArts Gallery HOP

Friday, May 20, 5 – 8PM

With dozens of galleries and non-traditional exhibit spaces, the LexArts HOP is arguably Lexington’s most anticipated visual arts celebration, and it happens on the third Friday of every other month! Patrons begin at one of nearly 50 locations and visit as many or as few participating venues as they would like. Each site presents an exciting new exhibit for each HOP and, thanks to the generosity of many, admission is always free.

Gallery HOP Event Info

Kentucky Bluegrass Scenic Railroad

Bluegrass Scenic Railroad Civil War Train

Saturday & Sunday, May 21 – 22, 2PM

Step back in time aboard a special presentation in Versailles — a ride on a Civil War Train! Don’t be surprised if there’s a little skirmish along the way, as the Yanks and the Rebs fight for control of the rails and the gold. Plan to arrive at 1:30 pm.

Bluegrass Scenic Railroad Event Info

Lyric Theatre in Lexington Kentucky

Woodsongs Old-Time Radio Hour

Friday, May 30, 7PM

Join in the fun of a fantastic music show taped live in Lexington at the Lyric Theater, and broadcast around the world. Audience must be seated by 6:45 pm. Show starts at 7:00 pm.

Woodsongs Old-Time Radio Hour Event Info