Our local housing market has had a good start to the new year!
Be sure to check out our exclusive Market Report — with all the latest information on the local real estate market – compiled by the experts at Rector Hayden Realtors!
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What’s Your Home Worth Now?
Have You Been Wondering…
…What’s My Home Worth Now?
Some national websites may offer you a single estimate of value, but only RectorHayden.com provides THREE valuation estimates – within seconds!
Visit RectorHayden.com to see what the three leading national valuation programs say about your home!
Rector Hayden REALTORS® is proud to be the first local real estate company in Central KY to provide you
with an easy-to-use home value estimate tool
ONLINE, FREE, NO SIGN-UP Required!
We know consumers want to know the value of their home. Many national sites provide estimates now up front on property detail pages, but what you may not realize is that those national estimates don’t have all the data! Many consumers put a lot of faith in one value they find online without realizing a property could be worth much more due to local factors, interior updates, and other information that national companies just can’t account for.
We’ve bridged that gap in information by providing you with the Home Value Estimate tool like no other! The Rector Hayden Home Value Estimate report shows you THREE different estimates ( like a credit report ) and gives you the option to edit details to see how it effects the value of your home. We provide consumers with the Zillow Zestimate (TM), the National Association of Realtors® Real Property Resource Estimate, and then our very own Rector Hayden Public Record estimate provided by Collateral Analytics. These three numbers can then help you as a seller or buyer make a more informed decision about the value of a property.
This tool is simple and mobile friendly! Go to www.rhr.com and on the homepage, just enter in ANY residential property address – nationwide – and immediately pull up a valuation report. Or, as you browse through listings on www.RectorHayden.com you can click on the Valuation tab to see the estimates.
But, REMEMBER – the BEST ESTIMATE of your home’s value can only come from a professional licensed LOCAL REALTOR doing a comparative market analysis. All 250+ of our agents are trained in evaluating your home – inside and out – and comparing it with other local data and trends to price it at the best value. Many of our agents are more than happy to provide this service to you with no hassle!
So go ahead – Check out your home – then give us a call to have one of our agents give you the BEST ESTIMATE of your home’s current market value! We’re here to help you!
Or visit: www.rhr.com/homevalues
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spring cleaning hacks
It’s springtime!
Click below to download your FREE 5 deodorizing hacks for your home.
— 50 years —
Service has been the hallmark of Rector Hayden since 1969, when Ray Rector first opened his real estate office in Lexington. As top agents joined the company, and associate Pat Hayden was made a full partner, the company quickly grew to a leadership position in the Lexington real estate market. Building on a reputation of honesty and integrity in serving its customers, Rector-Hayden eventually expanded to cover the entire Central Kentucky area.
Today, Rector Hayden REALTORS® is Lexington and Central Kentucky’s leader in real estate services, with 4 offices (Lexington, Georgetown, Versailles, Winchester) and over 220 professional REALTORS® serving every neighborhood and community of our area.
We are a member of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and enjoy the association of 30+ other leading real estate companies throughout the U.S. Rector Hayden REALTORS® was selected to be a part of this elite group of brokers because of our market presence, brand identity and professional reputation as the area leader in real estate.
We are proud to be an award-winning member of the prestigious Leading Real Estate Companies of the World® global network.
We also take considerable pride in our team’s commitment in time and money to over 100 local civic and charitable organizations. Our award winning Marketing Team and Relocation Division brings success and efficiency in every transaction.
Our affiliated lender, HomeServices Lending, features our outstanding home mortgage consultants who are located conveniently in our Lexington office. They provide purchase and refinance loan programs designed to save you money – and their expert service and guidance is exceptional. If you’re considering purchasing a home, you owe it to yourself to contact them today for a complimentary consultation!
As a company, we stand firm in honoring the code of ethics put forth by the National Association of REALTORS®. Our agents work hard to lead the pack in technology, resources, and practices in the real estate industry. Routinely, Rector Hayden manages the transactions of One Third of the inventory in Central KY. But, our business is not about quantity – it’s about quality – and we strive to make sure each client has all of their needs and expectations met.
The city of Lexington, KY sits as the central hub for Rector Hayden services. Our main office is located just past the intersection of Tates Creek Road and Man-O-War, and we invite you to come by with any questions you may have! Below are links to our affiliated businesses, resources, etc that you may want to peruse. We thank you sincerely for considering Rector Hayden REALTORS® as your guide in your next real estate journey.
Download your FREE 5 deodorizing hacks for your home.
Our local housing market has had a good start to the new year!
Be sure to check out our exclusive Market Report — with all the latest information on the local real estate market – compiled by the experts at Rector Hayden Realtors!
How does the appraisal process work and what influences it? If you’re selling your home, here are insights you can use to get a fair, informed appraisal for your property.
First, how does the appraisal process work and what influences it?
What does an appraiser do?
In short, an appraiser determines the current value of a property. They do this by performing a walk-through of the interior and exterior of the property and making note of any amenities such as a finished basement. They will also note health and safety code violations or other areas of concern. Most appraisers will utilize comparable home data (often referred to as comps) of nearby recent sales and neighborhood statistics to help determine a home’s value.
…
Understanding an appraiser’s work style
Since appraisers are independent contractors (hired by the lender and typically billed back to the buyer), it’s important to understand that they have their own preferences and work styles. While they are on your property, it’s essential to allow them one to two hours to complete the inspection without interruption. However, there are things you can do to make the appraiser’s job easier — and help your home get an accurate valuation.
How can the seller help?
- Make sure all utilities are on
- Ensure spaces and mechanical pieces are clean, functioning and free of debris
- Replace burned out lights and make needed repairs
- Make sure crawl spaces, attics and outbuildings are accessible
What happens if the home doesn’t appraise?
If a property appraises under the sales price, your options will then be:
- Request a reconsideration of value. Although unlikely, it’s possible that the appraisal could be reconsidered and you could still close at the price agreed upon by you and the buyer
- Ask the buyer to pay more than the appraisal by increasing their down payment
- Renegotiate the contract, by dropping the contract price to the appraised price
What happens if the home appraises?
Hooray, your property appraised at the sales price! All systems are go and you’re on your way to the closing table. Now the buyer’s financial and credit history will be verified, the lender will approve the home mortgage loan and the loan package will be submitted to the title company to prepare the documents for closing.
Our local housing market has had a good start to the new year!
Be sure to check out our exclusive Market Report — with all the latest information on the local real estate market – compiled by the experts at Rector Hayden Realtors!
Our local housing market has had a good start to the new year!
Be sure to check out our exclusive Market Report — with all the latest information on the local real estate market – compiled by the experts at Rector Hayden Realtors!
Categories
New Year Declutter
Welcome to a New Year!
The holidays have come and gone, and so have your home decorations. As you stowed away the holiday decor for safe-keeping until next year, you probably crept back into the attic, basement or closet, waded through the other dusty boxes of keepsakes and then shut the door. Although you subconsciously pondered organizing a little so that you could shut the door easily without cramming in everything, and hoped that next year the stacks of boxes wouldn’t topple, you may have dismissed it with a brief sigh. But wait! What if I could help you right now break down some de-cluttering methods with a simple strategy. After all, I’m pretty positive that after you see your results, it will put a smile on your face.
It’s 2019 and I’m sure you have thought of a couple of goals for the year, ranging from personal development to family to financial to home and beyond. With all of those ideas fluttering around in your head, it can become overwhelming to decide which one to tackle first, or how. Over the past fifty years of our real estate brokerage, we have learned some tips along the way for buyers and sellers of homes. Here’s a simple guide for how to tackle the daunting task of De-cluttering your HOME, one room at a time.
De-clutter your home in fifteen minutes a day with these 7 missions. You can start today, just grab your printable below.
Download to print the printable here.
DeclutterYourHome_RectorHaydenRealtors
5 reasons to consider downsizing
According to the National Association of REALTORS® (NAR), nearly 70 percent of homeowners over the age of 65 have paid off their mortgage, allowing them more options than younger homeowners. With equity built up, the ability to sell for a profit is more likely for this demographic, who can then choose to spend their earnings however they choose.
Here are five reasons you should consider downsizing your home this year.
Buy a smaller home with cash
Some homeowners will find that by downsizing, they can earn enough to buy a less expensive home in cash, and end up mortgage-free in a new abode. NAR says this is a very common route for those nearing retirement. Last year, homeowners between ages 55 and 74 who sold their home for a median price of $250,000 went on to purchase a home that was worth a median price of around $215,000.
Less time and money spent on upkeep
Larger family homes can take up tens of hours a week to keep up and cost more to cool in the summer and heat in the winter. Those who raised families may find that the three-story home they needed in the past is impractical now. NAR’s data supports this, showing that the median size home purchased by those over the age of 55 was between 1,800 and 1,930 square feet. This is a major downsizing from the age group of 35-44 years old, whose median home purchase size was 2,600 square feet.
Embrace the now
Many homeowners will find that their four bedroom split level was great for raising a big family, but now they tend to use their home for weekend visitors and casual get-togethers. The right home for this new lifestyle may be an open floor plan that includes guest quarters and attached bathrooms instead of many smaller bedrooms and bathrooms. Last year, NAR found that homeowners over the age of 55 had a median of three bedrooms and two full bathrooms. Great rooms also tend to replace living rooms and dining rooms — and larger, eat-in kitchens are common to save space and keep the floor plan open.
Look forward
Last year, NAR reported that 13 percent of buyers over the age of 50 purchased senior-friendly homes or units in active senior communities. In many cases, then, this age group is not only planning for the “now,” they are also planning for the future. One-level homes with open floor plans, larger rooms and wider hallways prove to be great not only for entertaining guests, but they also will be wheelchair and senior accessible in the future.
Gain flexibility
Last, and perhaps most importantly, it’s finally your time to choose. By selling your home, you can regain the flexibility you gave up as you pursued your career and family aspirations. Many approaching retirement in Lexington and Central Kentucky are looking at a downtown condo and a summer rental out of state. Others are looking at townhomes with modern conveniences and a homeowner’s association that handles basic yard and sidewalk maintenance. Still others are wondering if it’s time to retire full-time to the lake home that has been a precious summer escape. Now, unlike any time previously, you can make the choice that best suits you, and no one else!
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Tips for Buying During the Holidays
For many buyers, purchasing a home over the holidays can be ideal. In addition to competing against fewer buyers, you’ll finish the season off with the greatest gift of all — a new place to call home for years to come. Here are four insights you can use as you purchase a home in Central Kentucky this holiday season.
You’ll compete against a smaller, committed pool of buyers
The holidays are a less popular time to buy a home, so you may see fewer buyers at open houses. Don’t assume this means you are without competition – holiday buyers are more dedicated to getting to the closing table, and multiple offers are still possible due to limited inventory in many areas. Be prepared to move quickly on a home that meets your criteria.
Think twice about putting in low offers
You might think that people selling over the holidays may be extremely motivated to move and willing to accept an offer for well under asking price. While Scrooge would approve of this philosophy, most sellers simply aren’t that desperate. To avoid losing a home you love, make sure your initial bid is competitive.
Limit your travel and don’t overschedule yourself
It can be difficult to slow down during the holidays, but in our fast-moving market, you’ll need to work around seller schedules. Whether you find a house through online searches or your Rector Hayden Agent sends a hidden gem your way, your goal should be to see it in person as soon as possible.
Ready to find “the one” this holiday season?
If you’re hoping to get a head start on buying before the hectic spring market arrives, start now! Contact your Rector Hayden Agent today to get started or browse our newest listings at www.RectorHayden.com!
