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10 Reasons Why For-Sale-By-Owners Fail

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Homeowners trying to sell their homes on their own — for-sale-by-owners (FSBOs) — are driven by several reasons. Although most of them want to save money that they would have otherwise spent on real estate commissions, a few others take the FSBO route because they feel they don’t need a professional to sell their home.
Whatever the reason for...

Thinking of Selling? Don't wait!

Thinking of Selling? Don't wait!

Many sellers choose to wait to put their home on the market until after the busy-ness of the holidays. However, this decision could be costly! Here are 3 reasons why now is the perfect time to sell your home.

Only Serious Buyers are Out

Only those purchasers who are serious about buying a home will be in the marketplace around this...

2014: The Year of the Hi-Tech / Hi-Touch App

Milestone Realty Consultants and Residential Properties, Ltd. are members of The Enterprise Network, a union of privately-held real estate companies across the country. While we hand pick and review all guest posts for quality assurance, the author’s views are entirely his or her own. This guest post was brought to you by The Enterprise Network Annual Holiday Blog Swap.  

Recognizing the tremendous impact mobile technology has had on the real estate industry in recent years, it’s imperative for Realtors to keep an eye on the trends as we enter the new year. Despite concerns that technology has removed the personal touch from an industry founded on relationships, mobile has actually enabled real estate professionals to spend more time working out in the field by providing...

What Would Thomas Edison Think?

What Would Thomas Edison Think?Purchased a light bulb lately?

Easy, right?

Wrong!!

I typically buy light bulbs at the grocery even though the cost is a bit higher than a home improvement store. After factoring in the extra trip plus the amount I would spend unnecessarily at Lowes or Home Depot, I actually save money by paying more at the grocery, if that makes sense.

I prefer a clear 60 watt bulb for my exterior lights which is a fairly easy find--or rather it used to be. The grocery appeared to be out of my preferred bulbs for two weeks in a row so I decided to bite the bullet and go to Lowes. Thinking I would just run in and grab the bulbs without...

First Time Homebuyer Series: Step 6: After Offer Acceptance

What Happens After the Contract Has Been Accepted?

Within five days of the contract acceptance the Buyer will apply for a mortgage. The Lender will order/verify the following:

  • Credit Report
  • Employment Verifications
  • Any other documents required to process the loan
  • Proof of Funds
  • An Appraisal on the Property
  • A Survey of the Property
  • A Home Inspection
  • After the inspection, the Buyer will fill out an "Inspection Form" indicating any repairs they are requesting or that everything is acceptable "as is."

At this point we are playing the "WAITING GAME." We are waiting for the Lender to get in all the documentation they require and for the appraisal to be completed. During this period there may not be much communication, there is usually nothing to tell until the Lender sends the loan for approval....

Changes are coming...

Walden Mortgage

There are two big changes going on in the mortgage world in the next few months. One of the most popular types of low down payment mortgage loans known as a Federal Housing Administration loan, or FHA loan for short, will be making changes to the mortgage insurance premium collection policy (you may know it as mortgage insurance, or MI). If a new borrower’s MI is not ordered before April 1st (meaning the final contract is completed), the annual MI, which is included in the monthly payment to the lender, will increase by .10%. That means that if you have a loan amount of $180,000, you would pay an extra $15 per month on your mortgage payment and, more specifically, towards...

Real Estate Goals for 2013 for Buyers and Sellers

As we mentioned in our previous blog post, we talked about setting SMART goals for yourself in 2013. If you’re thinking about buying or selling a home in 2013, we at Milestone would like to help you with that goal! Whether you are buying or selling this year, here is a list of things you can do now to set yourself up for success to meet your financial and real estate goals in the upcoming year.

Buyers: Get your finances in order in 2013.

Buying a home is the biggest investment a person can make. Planning a home purchase takes time and effort, so you should consider meeting with a mortgage professional early in the year. Know your credit score and understand what your financial situation...

Selling Your Home In Winter

Winter can be a challenging time to sell your home.  The weather is cold and dreary and you have less time to show it off during daylight hours. However, there is good news.

While the number of homebuyers drops in winter, those left house-hunting are generally a more serious group--ready to make a deal now. Meanwhile, competition drops as other sellers decide to pull their homes off the market and wait for spring. Fewer homes on the market means yours will get more attention from buyers. If you’re willing to put some work into it and play up the cozy factor, you can make your house really stand out, even if the weather outside is frightful.

  • Clear a path. If potential buyers can’t get in, they won’t buy your house! Stay ahead of the snow and ice by shoveling all driveways and sidewalks. Sprinkle a layer of salt or sand to keep the pathways from freezing. Don’t forget the parking...

Market Scoop: May 2012

2012 is shaping up to be a good year for Real Estate in Central Kentucky!  The key indicators for our market are very encouraging. The inventory of homes on the market are down from 6,721 in May of 2011 to 6,145 in May of 2012. We are actually starting to see multiple offer situations again on Lexington homes! The number of sold homes is up substantially from 672 in May of 2011 to 785 in May of 2012.  The number of solds in May of 2012 is a big jump from the 638 solds in April of 2012. 

Spring is typically a very busy season for Real Estate and this Spring has been no exception. The pending sales from Lexington Bluegrass Association of Realtors is showing an increase as well,...

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