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(859) 619-7234 Weichert, Realtors - Bluegrass Living
Ty Brown Broker/Realtor

Tuesday, January 21, 2014

YouTube video posted - via Circlepix.com

1791 Jackstown Rd Paris, KY 40361

New listing video just posted:

http://video.circlepix.com/XSLANZ/483/1568

Description: Looking for country charm and to be surrounded by farms for a reasonable price? But need easy access to town? Then this ranch home is perfect for you. It has many updates including roof, HVAC, water heater all new with in the last two years. Hardwood floors, large living room and bedrooms, big kitchen with dining area and a double door leading to patio area out back. Nice large backyard surrounded by farm land, beautiful oak trees and full fenced. A covered car port with a good size storage area, and pull down attic access inside give lots of storage options too. Come check this place out, you will not be disappointed.




Home Information:

Beds: 3

Baths: 2.00

Sqft: 1685

Price: $165000

MLS #: 1318464

Monday, January 20, 2014

YouTube video posted - via Circlepix.com

1213 Colorado Rd Lexington, KY 40509

New listing video just posted:

http://video.circlepix.com/3RBLRV/483/1568

Description: Really nice home in Hamburg area with a first floor master bedroom. Large vaulted great room has cozy fireplace with gas logs, and a big kitchen and dining area. Upstairs has the other two bedrooms a full bathroom, and lots of storage in the walk in attic. Home has a one car garage and a fenced backyard




Home Information:

Beds: 3

Baths: 2.00

Sqft: 1310

Price: $119900

MLS #: 1314034

Friday, January 10, 2014

YouTube video posted - via Circlepix.com

155 Tanscript Lexington, KY 40502

New listing video just posted:

http://video.circlepix.com/X45GZ6/483/1568

Description: Lots of Charm! Short Term Lease Right across from University of Kentucky (UK) Hospital. SO CLOSE TO CAMPUS! One bedroom, one bath. Lease term January to May 31 2014. LOCATION! LOCATION! LOCATION! Cat permitted with fees.




Home Information:

Beds: 1

Baths: 1.00

Sqft: 0

Price: $500

MLS #: 1323443

Thursday, January 09, 2014

YouTube video posted - via Circlepix.com

155 Tanscript Lexington, KY 40502

New listing video just posted:

http://video.circlepix.com/X45GZ6/483/1568

Description: Lots of Charm! Short Term Lease Right across from University of Kentucky (UK) Hospital. SO CLOSE TO CAMPUS! One bedroom, one bath. Lease term January to May 31 2014. LOCATION! LOCATION! LOCATION! Cat permitted with fees.




Home Information:

Beds: 1

Baths: 1.00

Sqft: 0

Price: $500

MLS #: 1323443

Tuesday, January 07, 2014

A Producing Broker's Take on Things

A Producing Broker's Take on Things 

 
BY 
Real Estate Broker Owner with WEICHERT, Realtors®-Bluegrass Living 60937
It is hard to be a real estate agent in today's world. It's even harder to be a real 
estate broker. It's exponentially harder to be both, especially one in a smaller to 
mid size office. Because you ARE the company. You have to wear every hat, the 
hat of copier repair guy, the tech guy, the stamp buyer, the problem solver, the
janitor, the teacher, the trainer, the bill payer, the details and jobs are endless. 
If the phones go out somehow you are supposed to be the one to fix them. 

Throw in a franchise to that and you just created another full time job dealing 
with them.....

Sure the challenges in our business are widely reported. Especially 
since in today's real estate market things are happening and new challenges are 
popping up at blazing speeds it seems. Technology is changing the landscape of 
the business, not the nuts and bolts of it but the way things are moved along. The 
market is shaking its self off from one of the toughest stretches in history. 
Inventory is low, interest rates are rising in a time when a low interest rate 
entitlement mentality has overtaken the consumer (as flawed in macroeconomic 
theory as that may be)......I could go on all day about changes and threats to our 
business, and every magazine and real estate industry website does. 
However, all of this seems to be presented from the agent's side or the mega 
broker's side. 

What about the everyday smaller brokers who are still in the business of selling, 
AND running and growing a brokerage business? That means a full time job as a 
producing real estate agent and all the time that goes into that, plus the full time 
job of being a broker and trying to grow a business. The expenditures of both 
time and money needed to do each of those things. And heaven forbid we forget 
that we are also full time parents and community stewards as well. How is that 
possible? 

If Mr. Webster were to put a picture of insanity in the dictionary I think we would 
be it. It could easily be a picture of me. A crazy person trying to make all of this 
happen. A crazy person who not only is trying to make this happen but is 
convinced it is and will happen. Convinced that no matter how hard the path, the 
struggle will and is worth it. We may never get a thank you from anyone for all 
the work we have to put in to grow and improve our offices. Knowing we are 
responsible for them being paid each week and putting food on their tables is 
good enough. Success is not all not about how many agents, market share, or do 
we have enough money for signs, stamps, or a new coffee maker in the office, 
or will this agent be happy, or did I get their home sold fast enough? 
Hell its often will there be enough money at the end of the month to actually pay 
myself? That is a success. 

The reward takes no more to see that than to attend the next first time home 
buyer closing and see the look on their faces when they finally get the keys to 
their new home. Or to hand that first commission check to your newest agent 
after they have their first successful closing. Or to see an experienced agent finally 
find a place to work where they can finally be themselves and feel comfortable 
and actually grow their business. Or the relocating home seller finally getting to 
reunite their family in the new home in the new city after selling their house in the 
old town. These are the reasons why we do it, of course we make our living doing 
it but its more than that to us isn't it? 

But the real prize in the end, and the best of all, is at the end of the day getting to 
go home and get a big hug from my kids - after all - in the end that is what it is 
all about. We make that happen everyday. Not only for ourselves, but for our 
agents, our friends, and our clients. They may be one in the same many times, 
but make no mistake we are a big part of that happiness. And without hardworking 
agents, and brokers that are in this business every day a lot of people wouldn't 
get that experience.

So if that makes me crazy, if my definition of success is not the same as yours, 
that's OK. Call me crazy, call me successful and crazy and I will be just fine. 
Call me a crazy broker/owner because that is what I am.

P.S. - if you need a home in the Bluegrass Area of Central Kentucky, or are 
interested in a career in real estate in Lexington KY, you can call me then too. 
(You know I had to do it sometime....)

- See more at: http://activerain.com/blogsview/4234629/a-producing-broker-s-take-on-things#sthash.Hz5dyx1D.dpuf

Lease to Own Requests....A Top Ten Pet Peeve of Mine

OK so at least once a day I have someone call to ask me about a rental property, and at least 50% of those ask  if the owner would want to do a lease to own, land contract, lease purchase or some variation of the term. (Seller financing is a whole other topic.) Every time I want to scream, here is why.

They simply do not work, and one side or the other will get screwed. Usually the "buyer",  but as I can attest the owner can as well. 
So, on properties I own and rent,  I routinely say that I do not participate in those arrangements, I will however agree to sell the property to the renter anytime they want as long as they are in the lease with me. That's where I leave it. Here is why. There is no benefit in it for either side, even if it works out the risk is not equal to the reward. The good old days of a deal on a handshake, or assuming both sides are acting in good intentions are over. There are too many scams and "Get Rich Quick Seminars" preaching ways to work these deals in favor of one side or the other. 

Typical Scenario you will see offered (you know on all the yellow signs written in black marker all over town that say "Rent to own...3 BR....$895 a month" or something similar. )
Owner say yes they will do a rent to own. With $x,000 down, and $xxx rent per month. 

There are usually two reason for either party to want to enter into a lease to own or similar arrangement, so for simplicity I will do both scenarios for each party.

Buyer - Reason  1. - The buyer / "Buyer" is either not able to qualify for a loan right now and want to presumably have some equity building while renting and presumably repairing or correcting reason they cannot qualify currently. 
Reason 2. - They want to trap the owner into a situation where they can screw the owner out of the property and drag the legal process out in foreclosure action, which is costlier and takes longer than a simple eviction, or hope the seller will not be able to afford the foreclosure process and simply live rent free for as long as they can drag it out then skip town. 

Seller - Reason 1. - They want to rent the property out and and at some point sell it so why not allow them to pay down on it as they go along? This would ideally take the burden of insurance and taxes off them as well and on to the "New Owner". 
Reason 2. - They know the odds are the renter/"Buyer" will not or cannot ever actually buy the property and plan to keep the usually significant deposit when they do not. Often they place obscure terms in the contract to do just this easier. 

Issues: When any of the above takes place, the "buyer" may have created equitable ownership in the home. So now you are no longer dealing with eviction, if or when the renter decides to stop paying rent. 

Mortgage: Often the property has a mortgage on it from a bank or lender. So this is an issue, a big one. 

I have been in this business for several years, I own rental property, I have sold rental property. I have agreed to one of these scenarios over the years, and a partner of mine agreed for us in another. Neither have worked for either party. I still own the first one, I kept the deposit. They never tried or were ever able to qualify to buy the property. We left on good terms however and I still consider them friends. But we had a clearly written agreement to the terms. This is the number one mistake most people make, not having a clearly written contract stating all scenarios and how they will be handled. 

The second one, not so good. Lets just say that we are still fighting this one and it will cost us a lot. Why? There was no benefit in it for us, we should have never done it,  and the "buyer" is in my opinion on the side where they are trying to work the system to screw us. 

So if you are considering one of these, I suggest you reconsider. (And consult YOUR attorney)  If you do decide it is in your best interest to do so then carefully draft and review the contract and terms. Both sides.  (I am not an attorney and do not play one on TV, so this is not intended to be legal advice you must consult an attorney for that before considering any of these options, or a sell or buy anytime in the future.)

I would be interested to see what if thought you have on the subject. Good or bad.