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.
Unless you LOVE yard work, look for a starter home with a smaller outside space. Homeowner responsibilities can be a bit more than you may be used to, so don’t take on acres and acres of land if mowing and landscaping aren’t your strong suit (and you don’t want to spend a lot of money on care). Or, look for a home that is part of an affordable Home Owner’s Association that would take care of the outdoor work for you. Yard management is very important, especially if you still plan to do a lot of traveling [still returning home for the holiday seasons?].
The golden rule of real estate: “Location, Location, Location” – Look for your new starter home in a good location. Close to your place of work, or convenience shopping & needs. Do you normally take public transportation? Look around for areas on bus routes. Or, do you like running in the park? Look for home options near your favorite places! And remember, you don’t have to look far away from the city to find your price range – especially if living far out doesn’t fit your lifestyle … bringing us to tip #3!
Remember, this is your starter home. Don’t get carried away just because you may qualify for a low down-payment or low monthly payments on your first mortgage. Choose a starter home that fits your needs and lifestyle within reason. Don’t overwhelm your finances on your first property. Your forever home / dream home come later in life.
Don’t get sucked in to the DIY Pinterest phase and think you can ‘total home makeover’ a property. If you know you aren’t handy, then don’t buy a fixer-upper. (Or, on the other hand – if you have a great contractor in your family, then buying a fixer-upper may be a great starter home project!). What may look like a great deal still needs to be inspected. Too many repairs can become quite costly and end up costing your much more.
Every state’s real estate market is thriving year-round, and that even includes during the holiday season. Serious buyers never stop looking, and a serious seller (or a seller that wants or needs to sell their property) will keep their home or property on the market all year long. The holidays bring out the buyers and sellers that are determined — they need something or want to sell now, and they’re not willing to wait for the spring or summer.
While it is known that home inventory is largest during the spring and summer months, the MLS 
You’ll see a lot of articles on how to spruce up a home to ready it for the real estate market, and while the tips are definitely valuable, it’s not a secret that many people decorate their homes over the holidays. There’s something warm and inviting about a decorated home, or a home that feels cozy, and people who list their homes in the fall and winter can take advantage of a fireplace or wood stove to make a room more inviting.