Sharon Roark's Blog: Buyer Information

Forbes Magazine has named Lexington, Kentucky the fifth-best in its list of top 10 “Top College Sports Towns” in its February edition. 

The criteria included what the Forbes called “quality of life measures” such as housing costs versus median income, public school quality, crime and the availability and value of real estate in Lexington, KY.

Here’s what Forbes Magazine had to say about Lexington:

"If you like basketball and horse racing, there's no betterplace in the world to live than Lexington, Ky. Besides the university's hoops team and the tracks around the city, there is quality affordable housing to be found. A four-bedroom, 2,200-square-foot home costs just $234,500, while median earners make $45,622 a year."

Ann Arbor, Mich., home to the…

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I'm proud to announce that effective this week, I am now a member of the Keller Williams Bluegrass family, which is part of the national franchise of Keller Williams Realty.

Many items factored in to my decision to join Keller Williams, not the least of which is their impressive market share (number 2 in Lexington, KY real estate and quickly gaining on number 1) and the incomparable training and support they offer. Another factor was their size -- they're one of the larger offices in the Lexington area, which gives me as your agent more opportunities to network with other agents who may have clients who would like to see your home/property. I've only been at my new office a few days, but already I'm impressed with the "get it done" attitude of the support…

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There are many prognosticators making predictions about what 2009 will bring to the housing market; some predict good things, other predict bad things and a few think real estate in markets like Lexington KY will begin to see a recovery while the harder-hit markets will continue to flounder.

While I don't claim to be able to read tea leaves, I am looking optimistically ahead to the new year and have put together some thoughts on what I hope occurs this year that I think will help get the housing market headed in the right direction.

So, without further ado, here are my hopes for 2009:

I hope interet rates stay low. Whether you're looking at homes for sale in Lexington, KY or in Miami, FL, low rates are certainly an incentive to buy a home. I wish there…

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There are many real estate agents in the Lexington KY real estate market and many of them are good at what they do. Why, then, should you choose me as your realtor when you have so many options when buying or selling a home?

I'm a lifelong Central Kentucky resident. I've lived in Lawrenceburg, Frankfort, Richmond and Lexington and spent a good deal of time in Georgetown, Nicholasville, Paris and Versailles, so I know this market very well. I know the benefits of one city over another and the drawbacks of most areas. When you work with me in finding a home, I make sure you're fully informed of the pluses and minuses regarding each area and specific houses in those areas. Only through helping buyers make informed decisions can I earn their referral business…

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I still get this question on occasion, so I thought I'd address it in a blog post but yes, in case you're wondering, now is a great time to buy real estate in most markets. Why? Well, let me tell you...

Mortgage rates are the lowest they've been since 1971. After the Fed cut interest rates to their lowest level in history last week, mortgage rates responded by falling to their lowest levels in decades. If you're looking at Lexington, Kentucky real estate for sale, you'll find area interest rates in currently range between %5.25 and %5.50 on a 30-year, fixed-rate mortgage and loan officers I've consulted say they expect rates to stay low for the immediate future.

With rates at this level, the amount of house you can buy for the same payment increases,…

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I love what I do. Not only do I get to help families make one of the biggest decisions of their lives by helping them find the perfect home for them, but I also get to help sellers who may have been struggling for months (or even years!) to get their homes sold by helping them "stage" their houses to appeal to the widest array of buyers.

Case in point: my most recent listing is a house that had been on and off the market for 2 years. The owners, who lived a little over an hour away, had purchased the home for their kids to live in while they attended UK to save on housing costs (and make a good investment). The problem was, once the kids all graduated, the housing market started tightening up and no matter how many realtors they tried, they simply weren't…

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1. Mortgage Rates are still at historic lows.
 

While mortgage rates were already trending downward before mortgage giants Fannie Mae and Freddie Mac were placed in government conservatorship, but after the announcement about the companies' government takeover, rates on 30-year fixed-rate mortgages fell by 0.42 percentage point, the biggest weekly drop in more than 28 years.

Despite the appeal of the lower rates, it can be more difficult to obtain a mortgage, with banks less willing to take risks on loans these days. Only borrowers with excellent credit will qualify for the lowest rates. However, for potential homebuyers who do qualify, these lower rates could mean significant savings on monthly mortgage payments.

What can you do if you don't have good…

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Have you been wondering how real estate in Lexington KY is selling? Below is a breakdown of single family home sales for September, 2008 broken down by area (section of town). For more market statistics and information about home sales in Georgetown KY, Lawrenceburg KY, Nicholasville KY, Paris KY, Winchester KY or Versailles KY, visit my website at www.LexingtonRealEstateSource.com.

 

Market Statistics Report

 

 

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