Turf Town Real Estate Blog 
Federal Reserve Vows to Keep Interest Rate Low
Thursday, March 18th, 2010 at 11:52am. 10 Views, 0 Comments.
By Tom Petruno
RISMEDIA, March 18, 2010—(MCT)—Steady as it goes, Federal Reserve policymakers recently declared in their post-meeting statement. They left their benchmark short-term interest rate unchanged in the range of zero to 0.25% and once again pledged to keep it low for an “extended period”—retaining the phrase they’ve used for the past year.
The central bank continued to sound relatively upbeat about the economy, saying the data it looks at suggest that “economic activity has continued to strengthen and that the labor market is stabilizing.”
The Federal Reserve also said it would end, on schedule, its program of buying mortgage-backed bonds to help keep home loan rates low. That program will conclude at the end of this month…
NAHB Reminds Home Buyers: Tax Credit Expiring Soon
Saturday, March 6th, 2010 at 8:10am. 55 Views, 0 Comments.
RISMEDIA, March 5, 2010—The National Association of Home Builders (NAHB) wants potential home buyers to be aware that they still have the opportunity to take advantage of the $8,000 first-time home buyer or $6,500 repeat buyer tax credits, as long as they act quickly—the credits expire on April 30, 2010.
“It’s not too late to take advantage of the home buyer tax credit,” said NAHB Chairman Bob Jones, a builder and developer in Bloomfield Hills, Mich. “There are plenty of existing homes on the market, and even though the move-in ready newly constructed homes inventory has dwindled, builders may still be able finish a home in time.”
The IRS provides an additional two months beyond the deadline to close the deal. Buyers who sign a sales…
ARE BANKS LENDING MONEY? ARE BANKS MAKING JUMBO LOANS?
Wednesday, February 10th, 2010 at 1:14pm. 100 Views, 0 Comments.
The answer to both questions at least in the Lexington area are YES!!! Unfortunately, the news sometimes makes you think that banks are not lending money and if they do lend money it is at exorbitant rates. Nothing could be further from the truth. Rates are at historic lows. Our local banks are just begging to lend money- lending money is how our local banks stay in business. The near term outlook for rates should make every potential buyer who is going to borrow money in order to purchase a home or farm to buy now. There is a fair risk that rates could rise after March 31, 2010. Keep in mind a mere 1% rise in rates is similar to 8% drop in purchase price. If you are going to borrow money and you are on the fence, now is the time to buy.…
Repeat Buyers Need to Act Fast to Capitalize on Expanded Tax Credit
Saturday, January 30th, 2010 at 8:41am. 86 Views, 0 Comments.
RISMEDIA, January 23, 2010—By now it is well documented that today’s affordable housing prices, historically low interest rates and federal home buyer tax credit have combined to create one of the most attractive first-time buyer markets in recent memory. What many Americans might not realize is that a recent expansion of the buyer tax credit has created an equally desirable opportunity for existing homeowners.
This past November, Congress elected to expand the home buyer tax credit to repeat buyers after seeing the success the temporary financial incentive had on the housing market and overall economy. As a result, current homeowners who will have lived in their home for 5 consecutive years out of the last 8 may now be eligible to receive a $6,500 tax…
Martin Luther King neighborhood in Lexington, Kentucky
Monday, January 25th, 2010 at 4:11pm. 94 Views, 0 Comments.
By Tanya J. Tyler - Lexington Herald Leader History, diversity, and community activism are hallmarks of downtown neighborhood
On the eve of Martin Luther King Jr. Day, it is most appropriate to profile the downtown neighborhood named for the late civil rights leader.
Bordered by Elm Tree Lane and Short, Sixth and North Limestone streets, the Martin Luther King neighborhood encompasses a great deal of Lexington history.
For instance, you will find in this area: Kinkead House on North Martin Luther King Jr. Boulevard, one of the few remaining antebellum mansions in the northeast quadrant of Lexington's original boundaries; Central Fire Station on East Third Street, built in 1929; Campsie Place, which dates from 1905 and has houses in a variety of…
Open Houses in Beautiful Harrods Ridge - Sunday January 10th
Friday, January 8th, 2010 at 3:18pm. 104 Views, 0 Comments.
Please join us to view three of Jessamine County's finest homes in Harrods Ridge on Sunday, January 10th between 1 pm and 3 pm.
102 Silver Fox Drive - Offered at $1,050,000 - Hosted by Charles Fields 859-494-6845This two story foyer has a curved wrought iron staircase. The living room, kitchen, breakfast area & family room all have French doors leading to the covered porch overlooking the fairway. You must see the kitchen to appreciate the pro style Jenn-Aire appliances and state of the art fixtures. The master suite also has access to the covered porch and included his & hers closet and lavish cabinetry in the bath. There is a second master suite upstairs. This home has a full unfinished basement with unlimited possibilities.
See 102 Silver Fox…
Pending Home Sales Down From Surge But Up From A Year Ago
Thursday, January 7th, 2010 at 3:02pm. 71 Views, 0 Comments.
RISMEDIA, January 7, 2010—Contract activity for pending home sales fell after a surge of activity in preceding months to beat the original deadline for the first-time home buyer tax credit but remains comfortably above a year ago, according to the National Association of Realtors®.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in November 2009, fell 16.0% to 96.0 from an upwardly revised 114.3 in October, but is 15.5% higher than November 2008 when it was 83.1.
Lawrence Yun, NAR chief economist, said a drop was expected. “It will be at least early spring before we see notable gains in sales activity as home buyers respond to the recently extended and expanded tax credit,” he said. “The fact that pending home sales…
Homeowners - Exterior Remodeling Projects Prove Best Bang For Your Buck
Monday, December 28th, 2009 at 6:28pm. 88 Views, 0 Comments.
RISMEDIA, December 24, 2009—Despite a slow market and a slight decrease in the resale value of most remodeling projects, Realtors report that the smartest home improvement investments may also be some of the least expensive. Results from the 2009 Remodeling Cost vs. Value Report show that small-scale exterior projects are the most profitable at resale, according to estimates by Realtors who completed a recent survey.
On a national level, eight out of the top 10 projects in terms of costs recouped were exterior replacement projects that cost less than $14,000. Certain types of door and siding replacements, as well as wood deck additions all returned more than 80% of project costs upon resale. A steel entry door replacement–a new addition to this year’s…
5 Questions to Consider Before Purchasing a Home
Tuesday, December 15th, 2009 at 6:26pm. 94 Views, 0 Comments.
By Mary Ellen Podmolik
RISMEDIA, December 15, 2009—(MCT)—Interest rates on the benchmark 30-year, fixed-rate mortgage dipped to a 38-year low recently, giving consumers another reason to consider purchasing a home or refinancing their current one.
Freddie Mac recently stated the average rate on a 30-year loan was 4.71% with an average 0.7 point, the lowest rate since the agency began its weekly tracking of long-term interest rates in 1971. A point is equal to 1% of the loan amount, payable as a lump sum at closing. While the decline wasn’t overly dramatic, the dip is likely to get people wondering whether it’s time to sign on the dotted line.
The 5 following questions may help you decide if now is the time to go ahead and purchase a home or…
New-Home Sales Rise 6.2% in October 2009
Wednesday, December 2nd, 2009 at 8:13pm. 91 Views, 0 Comments.
By Ruth Mantell
RISMEDIA, December 1, 2009—(MCT)—Sales of new homes rose 6.2% in October 2009 on strong results in the South, the Commerce Department estimated recently.
The rise in U.S. new-home sales to a seasonally adjusted annual rate of 430,000 was well above the 390,000 pace that economists surveyed by MarketWatch had expected.
Sales rose 23.2% in the South. By contrast, monthly sales fell by 20% in the Midwest, and by 5.1% in both the Northeast and the West.
“On the surface, one would have assumed that the surge in sales activity was induced by the rush of first-time home buyers trying to get ahead of the originally scheduled end of the first-time homebuyers’ tax credit at the end of October,” wrote Millan Mulraine, economics strategist with…
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