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Kentucky REALTOR® News

First-time buyers love these home features
April 11, 2016

Mid-Atlantic real estate professionals are bullish on the housing market this spring, particularly due to the growing number of first-time home buyers entering the market.

In its 2016 Mid-Atlantic Housing Market Survey, MRIS – one of the nation’s largest multiple listing services – found that 57 percent of nearly 750 real estate professionals recently surveyed expect this spring to be busier than last year. The majority of the respondents cited low mortgage rates as the main reason they believe buyers will act faster this year than last year. Read More

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9 neighborhood features that hamper values
April 11, 2016

Certain neighborhood features near a home – like cemeteries and power plants -- could drag down a home’s price. Realtor.com® recently identified which of those features could have the biggest impact.

To calculate, realtor.com® analyzed home prices and appreciation rates in ZIP codes of the 100 largest metro areas across the country where a specific so-called “drag-me-down facility” – such as power plants or homeless shelter – was present. Read More

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Kentucky REALTOR selected as a finalist for NAR's 30 Under 30
March 18, 2016

One of the 50 finalists named to the list of 30 Under 30 with NAR was a Kentucky REALTOR®. Rusty Underwood, with the Lexington Bluegrass Association, is eligible for the 30 Under 30 award, and is up for the Web Choice Award. Now through noon (CST) on March 25, REALTORS®, friends, family members and acquaintances can place daily online votes for Rusty in REALTOR® Magazine’s 2016 “30 Under 30” Web Choice Award.

Vote Now

According to NAR, anyone can vote daily for their choice. The finalist with the most votes after one week will get a spot in 30 Under 30. Once online voting ends, the remaining 29 honorees for this year will be selected by a panel of judges and announced on March 28. For more information on Rusty and all the other finalists from other states, read the REALTOR® Mag story.

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5 things a home owner should do when moving into a home
March 11, 2016

Before a home owner gets settled in, there are 5 things to do immediately to the home, according to Bankrate.

1. Change the locks. Who knows how many people have keys to the home. But it’s recommended you don't just re-key the locks. Go ahead and replace the hardware, too. You get a nice update and peace of mind. Read More

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Special election results for Kentucky
March 9, 2016

Democrats won three of four House seats up for grabs in Tuesday’s special election, increasing their majority status in the House chamber by one for the rest of the 2016 General Assembly, including the all-important process of writing the next state budget.

The House will have 53 Democrats and 47 Republicans through the fall elections. It is the final state legislative chamber in the South to remain in Democratic control, and it is the last bastion of Democratic Party power in Kentucky, which otherwise has been trending Republican in state and federal elections.

Democrats won elections in Western Kentucky’s 8th District (Jeffrey R. Taylor of Hopkinsville), Central Kentucky’s 62nd District (Chuck Tackett of Georgetown) and northeastern Kentucky’s 98th District (Lew Nicholls of Greenup). The sole Republican won race in Central Kentucky’s 54th District (Daniel B. Elliott of Danville). Read More

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Kentucky's annual unemployment rate was lowest since 2007
March 8, 2016

Kentucky’s annual unemployment rate fell to 5.4 percent in 2015 from 6.5 percent in 2014, while nonfarm employment gained 27,700 jobs, according to the Office of Employment and Training (OET), an agency of the Kentucky Education and Workforce Development Cabinet.

It was the lowest annual jobless rate for the state since 2007 when it was also 5.4 percent.

“At 5.4 percent, Kentucky’s unemployment rate has reached the pre-recession low last seen in 2007,” said economist Manoj Shanker of OET. “The job market hit a historical high in 2015 with nonfarm employment rising to almost 1.9 million.

“In spite of these gains, there is undoubtedly room for improvement,” he added. “Kentucky has a low labor force participation rate, which at 53.7 percent, ranks us at 47th in the nation.” Read More

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Fake real estate agent in Kentucky gets into homes to steal
March 7, 2016

A former Louisville real estate agent is under investigation after she allegedly posed as an active agent to gain access into homes, according to Shelbyville police.

According to one victim, the fake agent is using her past experience in showing houses to steal.

The investigation started with a surprising phone call to Linda Gibson Cecil, the CEO of Keller Williams Louisville East. Cecil said of the caller, "She's the daughter of an elderly woman who's a homeowner and who currently has her house on the market." Read More

 

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Top 10 home trends that buyers want in 2016
March 4, 2016

Gone but not forgotten are the avocado kitchens, the carpeted bathrooms and the sponge-painted walls. I’ll bet that some of you are still rocking one of those beloved trends in your home. You know who you are. But 2016 home trends are more on the clean living side.

There are many new trends that we’ll see this year including new pastel Pantone colors and smart appliances. Some will stay, and some will hopefully go — quickly. Read More

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"Get REALTOR" consumer ad campaign launched by NAR
February 8, 2016

Buying a home isn’t as easy as clicking a few buttons and magically getting the home of your dreams, as the current real estate advertising landscape leads many to believe. The reality is that real estate transactions can be stressful and there are often challenges and obstacles along the way.

To communicate Realtor® value in helping consumers succeed in all things real estate, the National Association of Realtors® has launched a new advertising campaign, “Get Realtor®.” The campaign targets hyper-connected and emerging generations of home buyers, sellers, owners and investors. Read More

 

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REALTORS® Applaud House Passage of "Housing Opportunity Through Modernization Act"
February 5, 2016

The U.S. House of Representatives voted today to advance legislation that will expand opportunities for homeownership. H.R. 3700, the "Housing Opportunity Through Modernization Act," includes a number of initiatives that have strong support from the National Association of REALTORS®, who hailed the vote as important progress for home buyers and sellers.

"This legislation will put homeownership in reach for more families, and we applaud Congress's work to take us there," said NAR President Tom Salomone, broker-owner of Real Estate II Inc. in Coral Springs, Florida. "We look forward to seeing it advance through the legislative process and to the President's desk, so it can be signed into law."

NAR testified last year in support of H.R. 3700 before the U.S. House Financial Services Subcommittee on Housing and Insurance. In particular, NAR championed the inclusion of reforms to current Federal Housing Administration restrictions on condominium financing.

Condominiums are among the most affordable homeownership options for first-time homebuyers, as well as lower income borrowers, but barriers to safe, affordable mortgage credit for condos still exist. H.R. 3700 takes a number of steps to address those concerns.

These include efforts to make FHA's recertification process "substantially less burdensome," improving a process that is often costly and which condo developments must repeat every 24 months. H.R. 3700 also lowers FHA's current owner-occupancy requirement from 50 percent to 35 percent and requires FHA to replace existing policy on transfer fees with the less-restrictive model already in place at the Federal Housing Finance Agency.

Additionally, the "Housing Opportunity Through Modernization Act" streamlines the process for exemptions to FHA's rule requiring that condominium projects have no more than 25 percent of the space dedicated to commercial use. This effort is in line with the Department of Housing and Urban Development's initiative to promote neighborhoods with a mix of residential housing, businesses and access to public transportation.

Finally, H.R. 3700 includes further support for rural housing loans and multifamily housing initiatives.

The National Association of REALTORS®, "The Voice for Real Estate," is America's largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

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