Category: Home Insights

October 2018 Events We Love!

Post author By RHRNews
Post date September 26, 2018

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.

October 1 @ 6 – 8 PM

Lyric Theatre

300 East Third Street
Lexington,KY40508

859-280-2218

woodsongs.com

Woodsongs presents Arvel Bird and Cicada Rhythm.

Breeders’ Cup Experience

October 31 – November 3

Taylor Made Horse Farm

2765 Union Mill Road

Nicholasville, KY 40356

859-963-1004

visithorsecountry.com/bookyourtour

Join Taylor Made Farm for a special look into the Breeders’ Cup where you will enjoy a parade from two Breeders’ Cup contenders, “Not This Time” and “Midnights Storm” who both reside as stallions at Taylor Made! You will get to visit the grave stone of Champion Stallion, “Unbridled’s Song” who won the Breeders’ Cup Juvenile in 1995. Your tour will be paired with lunch from Daddy Joe’s Bar and Grill, our on-site restaurant.

Trick or Treat

October 23 @ 4:00 – 6:30PM

Rector Hayden REALTORS

1099 Duval Street
Lexington, KY 40515

FREE & OPEN TO THE PUBLIC in the garage

Are you familiar with “Trunk-or-Treat”? It’s a safe alternative to trick-or-treating, where volunteers decorate the trunks of their cars in a parking lot, and children can walk around and collect treats! Rector Hayden REALTORS is having this free event open to the public. We encourage you to come participate in this fantastic, family friendly evening of fun!

National Horse Show at the Kentucky Horse Park

October 27 @ 7:00AM – November 4 @ 5:00PM

Kentucky Horse Park

4089 Iron Works Parkway
Lexington, KY 40511

www.nhs.org

Nine days of events! The National Horse Show is the culmination of the east coast summer equestrian season. With $845,000 in prize money offered, the National Horse Show has been designated a CSI4*-W event by the FEI.

Competition starts with equitation championships, followed by International Open Jumpers and the top-rated hunter sections. For six consecutive years, the National Show Hunter Hall of Fame has named the National Horse Show as the Horse Show of the Year.

Keeneland Fall Meet

October 5 – October 27

Keeneland

4201 Versailles Road

Lexington, KY 40510

859-254-3412

www.keeneland.com/2018-fall-meet

Fall Race Meet open Friday, October 5 and continues through Saturday, October 27. No racing will be held on Mondays or Tuesdays.

Gates open at 11AM with the first post at 1:05PM daily.

Highlights include opening Fall Stars Weekend, featuring 10 stakes races and nine Breeders’ Cup Win and You’re In events. Tickets may be purchased online beginning August 1 at 8:30AM

Tags breeders cup, Events, fall meet, farm, halloween, horse, Keeneland, kentucky, october events, trick or treat, trunk or treat

Home Insights Home Selling Tips Newsletter Featurettes

Sell Your Home for Top Dollar This Fall

Post author By RHRNews
Post date September 26, 2018

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.

Home Insights Home Selling Tips Newsletter Featurettes

Key Insights For Selling This Fall

Post author By RHRNews
Post date August 29, 2018

Although fall can be a challenging time of year to move if you’re a buyer or seller with school-aged children, fall buyers are typically highly-motivated — meaning that sellers could get a faster path to the closing table. Our gorgeous local fall scenery makes it easy to show off the natural beauty of a neighborhood and the homes within it!

Here are some of the pros and cons you’ll want to consider as you make your decision.

Pros of selling a home in the fall

Less competition

Inventory in our local market is always higher in the spring and summer, and the number of homes for sale usually dips in the early fall. If you decide to list your home this autumn, it may stand out amidst the condensed inventory available.

Motivated buyers

Many families are hoping to accomplish their move by the holidays, or before the second half of the school year begins — so buyers looking in the fall tend to be highly motivated. You could benefit from buyers who are ready to move quickly.

Autumn staging is a breeze

While you’ll have to stay on top of raking and bagging your leaves, staging your home in the fall is relatively easy. The natural beauty of the changing leaves will do half the work for you, and staging tips from your Rector Hayden Agent will get you the rest of the way there.

Cons of selling a home in the fall

Time is precious

For many, fall is the busiest time of year. It’s important to remember that the upkeep of your home’s interior and exterior will be critical to selling your home this season. Consider cutting back on other less significant plans and commitments so you’ll be up to the task.

Uprooting can be hard

If you’re a parent of a school-aged child, it can be difficult to move across districts in the middle of the school year. However, studies have shown that kids actually adapt very quickly when the transition is accomplished during the middle of the school year. Immediately having new friends and new experiences can be a good thing!

Ready to sell?

Whether you’re ready to list your home or want the insights of a local market expert, we can help. Contact your Rector Hayden Agent today!

Tags staging

Home Insights Home Selling Tips Newsletter Featurettes

Tips to Pass Your Home Inspection

Post author By RHRNews
Post date August 29, 2018

The vast majority of Central Kentucky home-buyers will want to have a thorough home inspection performed as soon as their offer is accepted by the seller. Here are five tips on how to ensure that when selling, you pass your home inspection with the fewest issues possible.

1. Unfettered Access

First tip to pass your home inspection, provide unfettered access to your electric panels, heating and cooling systems and your attic. The inspector will need to assess all of these areas, so it’s best to let them get in easily. Remember also to clean the space below your sinks so the inspector can easily assess your pipes.

2. Appliance Check

Second, be sure to empty all your appliances to facilitate the inspection (except your refrigerator, of course). That means your washer, dryer, dishwasher and stove should all be fully empty and ready to test.

3. Documentation

Next – if possible — provide full documentation of your appliances, systems and any work you’ve had done on them. For example, “if you’ve had an engineer inspect a crack in your foundation and there’s nothing wrong with your structure, display that report so the home inspector doesn’t have to be concerned about the crack,” says a local inspection company.

You can even attempt to provide the manuals for appliances by using online resources like GE’s Appliance Manual online center: http://www.geappliances.com/ge/service-and-support/literature.htm

4. Light The Way

One incredibly simple tip – replace ALL light bulbs so the inspector won’t have to worry about whether a burnt out bulb is really an issue with your wiring.

5. Get Outta There

Last, get out of there! Think of the inspection as another home showing – you need to be out of sight and out of mind so the inspector can speak freely with the buyers and their agent. And if at all possible, take your pets with you or arrange for them to be visiting a friend or relative during the inspection time.

These tips are a great starting point to helping pass your home inspection. Remember, your real estate agent is your best resource throughout the entire listing process. They are there to guide you through each part of the transaction and answer any questions that you have. Rector Hayden REALTORS® are trained to handle the different situations that occur in our market and are dedicated to the success of your sale.

Maybe you’d also find this article helpful? How Sellers Can Pass Their Appraisal

Tags inspection

Local Events

#LexHaveFun – AUGUST EVENTS

Post author By RHRNews
Post date August 1, 2018

Events in Central Kentucky in August 2017

Local events we LOVE this month

Last chance, summer fun – with SO much to enjoy, see and do!

CLICK HERE for some of the events and activities we love during the month of August, happening in Lexington and all around Central Kentucky!

Home Buying Tips Home Insights

How Much of My Income Should I Spend on My Mortgage Payment?

Post author By RHRNews
Post date August 1, 2018

Understanding your housing expenses

When a lender reviews your loan application, their main job is to verify that you are a low-risk candidate who will be able to cover your monthly housing expenses for the full life of the loan. To do this, they will first calculate your monthly PITI:

Principal of the loan
Interest on the loan
Taxes (estimated from annual payment)
Insurance (estimated from annual payment)

While every lender is different, and every loan application is reviewed independently, the general rule of thumb is that your monthly PITI should be between 28-35 percent of your monthly income before taxes. This number is known as your front-end debt-to-income ratio.

Understanding your debt obligations

Of course, you may have other long-term loans or debt obligations that you pay each month. Lenders will also take these debts into consideration as they review your loan application.

The easiest way to think of a debt obligation is to consider who you are paying back. Common debt obligations include:

Student loans
Car payments
Child support payments
Credit card minimum payments (if you have a long-term balance you are paying off)
Medical or hospital bills

To calculate your back-end debt-to-income ratio, the lender will add up your monthly debt obligations, including your hypothetical monthly PITI. They will divide that by your total monthly income before taxes.

Typically, lenders are looking for a back-end debt-to-income ratio of 35-45 percent. But again, every lender varies and your personal financial history and income history will also be factored in.

What about other expenses?

You have daily, weekly and monthly expenses that won’t necessarily be taken into account by a lender — but that doesn’t mean you shouldn’t think about them as you begin the path to home ownership.

Before you apply for a mortgage, take stock of your monthly expenses, including:

Groceries
Gas or transportation costs
Restaurants, coffee shops and gas station pit-stops
Mobile phone plans, cable television plans and streaming services
Shopping and gifts

It’s likely that you could tighten up one or two of your spending categories without too much effort. Your lender may not notice, but you’ll find it easier to afford your monthly PITI and debt obligations when you minimize your other expenses.

How can I calculate my buying power?

If you’re looking for an easy-to-use tool that takes into account your front-end and back-end debt-to-income ratios, check out these great calculators from Home Services Lending.

Tags home buyer, home buying tips

Home Insights Home Selling Tips

4 Home Seller Myths Exposed

Post author By RHRNews
Post date July 25, 2018

Wondering how to sell your home in less time and for more money?
Don’t believe everything you see on HGTV.
Here are four common seller myths that we’ve debunked for you.

#1) Don’t renovate everything

In today’s market, sellers have the upper hand and buyers are competing over a shortage of inventory. While it’s advantageous for your home to stand out, you can likely get a great offer by making smart, minimal repairs. Work with your Rector Hayden Agent to determine what changes they’d recommend and see if they agree that you could focus on low-cost upgrades like new light fixtures, fresh paint, replaced hardware, and some fresh spring landscaping.

#2) Don’t “list high”

Some sellers, especially those who aren’t in a hurry to move, fight to list their home at a price higher than the fair market value. Their idea is that by listing high, they may snag a high-bidding buyer — and if they don’t, they can simply lower the price later on.

This is a dangerous plan for a few reasons:

Buyers and their agents are unlikely to overbid on a home that’s being sold for much more than the one down the block.
Homes get the most attention in their first two weeks on the market. When a buyer sees that a home has been on the market for a long time, they will either think that there is something wrong with the home or that it is listed for too high a price.

#3) Don’t sell on your own

The most common reason to sell a home “For Sale by Owner,” or FSBO, is to avoid paying a commission for a real estate agent. While we understand that it can be tough to part with any money from your hard-earned home sale, the reality is that sellers who use a Realtor end up earning more on their home sale, even when the commission is considered.

In 2017, the median selling price of a FSBO home in the U.S. was $185,000, while the median selling price of an agent-assisted home was $245,000. This large gap may be why the National Association of REALTORS® reports that FSBO sellers have dwindled to their lowest number in more than 35 years. Last year, just 8 percent of home sales were FSBOs.

In short, the act of listing a home for a fair price is best handled by a true market expert who has deep insights on your community, recent sales, housing trends and more.

#4) Don’t sell using a “retail price” model

It’s interesting to see that homes priced at a round number price point — like $150,000 or $400,000 — often sell faster than homes listed at $149,000 or $399,000.

Why? It’s really a matter of buyer exposure to online listings. Today’s home-buyers mostly shop online, and they enter in search parameters based on price. If you list your home at $299,000 instead of $300,000, buyers who are searching between $300,000-$350,000 won’t end up seeing your property.

That small pricing change can make a massive difference when it comes to online exposure. Homes with round number pricing showed up in search results 58 percent more than those that were listed at a “discount” price.

What more tips for buying and selling in the Central Kentucky Market? Get in touch with your Rector Hayden Realtor or join our eNewsletter mailing list!

Tags home seller, home selling tips

Woodsongs

Breeders’ Cup Experience

Trick or Treat

National Horse Show at the Kentucky Horse Park

Keeneland Fall Meet

Stage for success

Exterior adjustments

Interior additions

Lighting tips

Our local housing market – and how to compete

Here are some of the pros and cons you’ll want to consider as you make your decision.

Pros of selling a home in the fall

Less competition

Motivated buyers

Autumn staging is a breeze

Cons of selling a home in the fall

Time is precious

Uprooting can be hard

Ready to sell?

1. Unfettered Access

2. Appliance Check

3. Documentation

4. Light The Way

5. Get Outta There

Maybe you’d also find this article helpful? How Sellers Can Pass Their Appraisal

Local events we LOVE this month

Last chance, summer fun – with SO much to enjoy, see and do!

CLICK HERE for some of the events and activities we love during the month of August, happening in Lexington and all around Central Kentucky!

Understanding your housing expenses

Understanding your debt obligations

What about other expenses?

How can I calculate my buying power?

Our local housing market – and how to compete

Wondering how to sell your home in less time and for more money? Don’t believe everything you see on HGTV. Here are four common seller myths that we’ve debunked for you.

#1) Don’t renovate everything

#2) Don’t “list high”

#3) Don’t sell on your own

#4) Don’t sell using a “retail price” model

Wondering how to sell your home in less time and for more money?
Don’t believe everything you see on HGTV.
Here are four common seller myths that we’ve debunked for you.