Lexington KY Real Estate Blog

There is much more than a lower rate and payment to determine whether to refinance a mortgage.  Lenders try to make refinancing as attractive as possible by rolling the closing costs into the new mortgage so there isn't any out of pocket cash required.

The closing costs associated with a new loan could add several thousand dollars to your mortgage balance.  The following suggestions may help you to reduce the expense to refinance.
·         Tell the lender up-front that you want to have the loan quoted with minimal closing costs.
·         Check with your existing lender to see if the rate and closing costs might be cheaper. 
·         Shop around with other lenders and compare rate and closing costs.
·         If you're refinancing an FHA or VA loan,

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Saturday September 15, 2018 from 8:00 am to 2:00 p.m.- yes this coming Saturday! Mark your calendars as it is going to be a busy day! Before you hit a fall festival or head over to the University of Kentucky football game, head on over to the Tuscany neighborhood in Lexington 40509.

Tuscany, which is located right in the heart of Hamburg is located off of Sir Barton across from the horse cemetery ( that is Carducci Street going into Tuscany) or located behind Lexington's Whitaker YMCA off of Sir Barton/Old Rosebud. Old Rosebud takes you right to Tuscany. There are 2 entrances off of Old Rosebud to get into Tuscany - Pascoli Place and a little further down is Villa Medici Pass that takes you right into the newest section of Tuscany. There will be

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Georgetown's Canewood Neighborhood has been a popular spot for folks for years! With it's central location in the heart of Scott County, Kentucky, you have a great spot for easy access to the interstates and all the shops and restaurants. I love Canewood because you have the best of both worlds. A peaceful setting overlooking the gorgeous countryside landscape of Georgetown, but yet so close to the city happenings and right near downtown Georgetown which plays home to tons of festivals and events. Canewood offers a quality golf course and popular swimming pool for residents. The neighborhood is always a hip spot in the summer months and the residents really do enjoy the pool, golf, and meeting friends on long walks and bike rides through the scenic

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Mortgage rates have risen 0.5% in 2018 on 30-year and 15-year fixed rate mortgages and experts expect them to continue to increase. Buyers paying attention to the market understand the relationship that inventory has on pricing; when the supply is low, the price usually goes up. Rising interest rates can affect the cost of homes also.
When interest rates go up, fewer people can afford homes. Lower numbers of buyers can affect the demand, which could cause prices of homes to come down. The question is how much do the interest rates have to go up to affect demand?

As the rates gradually go up, the affect may not be noticeable at all except for the fact that the payments for the buyer have increased.  A ½% change in interest is approximately equal to a 5%

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The 2018 real estate market in Lexington, KY has been one for the record books already and it is only August. Just like the summer heat, the real estate market has been sizzling hot. During August, we usually see a brief slow down as families are busy gearing up for the back to school season. But with Fayette County Public Schools back in session for about 2 weeks now, the market is regaining its speed. This Monday, I have been working on my new listing. I'm listing a beautiful ranch in the popular Gardenside neighborhood in South Lexington. If you are not up to speed on the neighborhoods in Lexington I can help you since I grew up in Lexington. This neighborhood is located in Area 4 of Lexington, the south side.  This 3 bedroom and 2 full bath ranch

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Moisture is mold's best friend and it thrives between 40 and 100 degrees Fahrenheit which is why it is commonly found in homes. Mold spores float in the air and can grow on virtually any substance with moisture including tile, wood, drywall, paper, carpet, and food. Moisture control and eliminating water problems are key to preventing mold. Common sources of moisture can be roof leaks, indoor plumbing leaks, outdoor drainage problems, damp basements or crawl spaces, steam from bathrooms or kitchen, condensation on cool surfaces, humidifiers, wet clothes drying inside, or improper ventilation of heating and cooking appliances.

One can control the moisture problem by scrubbing mold off hard surfaces using soap and water or other cleanser and let dry

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If it's not broken, why would a homeowner consider replacing something as expensive as a toilet when there may be other things in the home to replace that provide more aesthetic appeal. Don't be too quick to ignore the functionality and the reliability of this basic convenience.

Maybe your existing toilet has ugly scratches that make it difficult to clean. Maybe there are cracks in the tank or bowl that you're concerned will develop into a leak at the worst possible time.Having to plunge a toilet more than once a week could motivate a homeowner to spend money on a replacement especially, if having made repairs to the flapper and fill valve didn't solve the issue.The first rationalization might take place at the economic level. A water-saving model

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When comparing the cost of owning a home to renting, there is more than the difference in house payment against the rent currently being paid. It very well could be lower than the rent but when you consider the other benefits, owning could be much lower than renting.Each mortgage payment has an amount that is used to pay down the principal which is building equity for the owner.    Similarly, the home appreciates over time which also benefits the owner by increasing their equity.  There are additional expenses for owning a home that renters don't have like repairs and possibly, a homeowner's association. To get a clear picture, look at the following example of a $300,000 home with a 3.5% down payment on a 4.5%, 30-year mortgage.

net cost of housing.jpg

The total

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Hi Lexington and Central Kentucky friends! Are you asking yourself where did the summer go? It flew by once again this year. With us being just Two weeks from the start of school here in Lexington and the surrounding counties, I know many of you are looking to take one last trip out of town before getting the kids back in school. Along with all the planning of what you're going to do and where you're going to stay, consider this checklist to make you feel more comfortable while you're away from home.

  • Ask a trusted friend to pick up your mail, newspaper and keep yard picked up to avoid an appearance of not being at home.
  • Stop your mail (USPS Hold Mail Service) and your newspaper.29938746-250.jpg
  • Don't post about your trip on Facebook and other social media
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Acquisition Debt is the amount of money borrowed used to buy, build or improve a principal residence or second home. Under the new tax law, mortgages taken after 12/14/17 are limited to a combination of $750,000 on the first and second homes. The mortgage interest on this debt is tax deductible when itemizing deductions.  It is a dynamic number that is reduced with each payment as the unpaid balance goes down. The only way to increase acquisition debt is to borrow money to make capital improvements.

Prior to the new law, homeowners could additionally borrow up to $100,000 of home equity debt for any purpose and deduct the interest when itemizing deductions. Mortgage interest on home equity debt is no longer deductible unless it is for capital

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