A Producing Broker's Take on Things 

 

BY TY BROWN

Real Estate Broker Owner with WEICHERT, Realtors®-Bluegrass Living 60937

October 29, 2013 01:17 pm

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. 

The Real Ky People's List of Things to Do in KY

It seems every Kentucky "To Do List" or "Bucket List" or whatever things you must do list that comes up about Kentucky is pretty weak. Almost as if the person writing it wasn't even from Kentucky. So I thought I would start one myself and ask real people to put theirs in here, not those snooty- think I am better than you because I read some book about someone who was better than you too people. Here it is please add your favorite things to do in KY as well. Nothing is off limits, but please keep it clean and legal. Moonshine is OK just don't be the one making it or possessing it...


Here goes.

What are the things you must do or see in KY to truly say you have been to KY?

1. Go to Keeneland during a meet
2. Go to Rupp Arena for a UK basketball game
3. Tailgate at Football game (Game Optional)
4. Visit Mammoth Cave
5. Cave Run Lake - 'nuff said
6. Do some type of tobacco work, once at least
7. Drink some real moonshine - there is only one place to get it of course
8. Complain about the weather
9. Attend the Ky Derby twice - once in infield, once in seats (A Derby Party is a Must as Well)
10. Attend any local fall festival AND Mt Sterling Court Days
11. Find a real coal mine and see what it is all about
12. Eat a KY Hot Brown, or several from several locations to determine which one you like best
13. Red River Gorge is pretty cool, check it out
14. Natural Bridge - just go and ride the chair lift but hike once up top - See Lover's Leap
15. Get lost in the woods in the fall somewhere
16. Keep an umbrella handy 365 days a year
17. See how Louisville Sluggers are made
18. Visit a bourbon distillery, or several, do the tours!
19. Visit all the State Parks - they are actually pretty cool
20. Play golf - KY has many really nice courses, and some you don't need a shirt - all good times
21. Must attend a Reds game, I know its Ohio, but you can see KY from the right seats
22. Find a small town and visit the local bar, liquor store, cut and shoot bar, honkey tonk
23. Eat some real home cooking - I suggest brown beans, corn bread, okra, squash (all fried)
24. Don't buy in to the sweet tea myth - it sucks
25. Sit in on a real old school country hollering and dancing church service - once is enough
26. Field Party - Bonfire, and ATV's are a necessity
27. Say yes sir to any State Trooper at any time at anything they say - may get a warning
28. Above advice does not work with local or campus police - you're screwed no matter
29. Pronounce the town or county wrong on purpose  i.e. Versailles, Rowan, Pikeville (silent K)
30. Go to a Bluegrass Festival, not sure why but you owe it to yourself
31. If there is a funeral passing pull over. Period.
32. Ky Boys Sweet 16 Basketball Tournament is basically a holiday - just go
33. Ky Horse park - Go
34. Visit a few KY Vinyards
35. Try the ferry
36. Hike to the Chained Rock in Pineville
37. Lockeege - if you don't know you should
38. Hunt some kind of animal - eat it if you kill it
39. Go fishing
40. Drive the back roads route and stop at anything that looks cool
41. Ride a horse - it is KY after all
42. Skip the KY Speedway Race - it sucks
43. Swim in the Ohio River -you will only do it once
44. Visit the Ky Palisades
45. Go to a Louisville Cardinals game...
46. State School sporing events vs other state schools are fun (EKU, WKU, MSU, UK, UL,MuSU..)
47. Find an arrowhead - freshly plowed fields near rivers are the best spots
48. Dirt track racing Friday night - you have to see it once
49. Visit the Capital... its in Frankfort
50. Visit the historical sites they are all over the place

Here is my list any additions?
Suggestions from readers

51. We have our very own Castle! Yep on Versailles Rd. Need to visit it (me too) or at least take a pic

Search All Homes for Sale Here

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155 Tanscript Lexington, KY 40502

New listing video just posted:

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

Description: 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 permited with fees.

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Home Information:

Beds: 1

Baths: 1.00

Sqft: 0

Price: $500

MLS #: 1323443

YouTube video posted - via Circlepix.com

155 Transcript Lexington, KY 40508

New listing video just posted:

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

Description: Great apartment so close to Campus! Right across the street from University Of Kentucky (UK) Hospital. One or Two bedroom with two full baths. Washer and Dryer come with the home. Updated with wood floors, tile in the Kitchen, White Cabinets and White Appliances. Cat welcome with fees.

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Home Information:

Beds: 1

Baths: 2.00

Sqft: 0

Price: $575

MLS #: 1319516

155 Tanscript, Lexington, KY

155 Tanscript Lexington, KY 40502

New listing just posted: http://tour.circlepix.com/home/X45GZ6

Description: 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 permited with fees.

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Home Information:

Beds: 1

Baths: 1.00

Sqft: 0

Price: $500

MLS #: 1323443

YouTube video posted - via Circlepix.com

102 Sundae Dr Richmond, KY 40475

New listing video just posted:

http://video.circlepix.com/AXK69N/483/1568

Description: This majestic home is truly amazing inside and out. The main floor features a grand two story foyer with gleaming wood floors, dining room, a large kitchen with center island, new granite counter tops, spanish tile floors, lots of cabinet space, two pantry storage areas, and a bright breakfast area. Also a sunken family room with fireplace and lots of nice windows for natural lighting with a nice half bath with marble floors. Upstairs boasts a large common sitting/study area and 3 large bedrooms, two share a Jack-and-Jill bathroom, and one has its own full private bathroom. The walkout basement is great with areas currently used as a play room, a workout room and also a large living room, full bath, laundry / workshop, a utility garage, and featuring an amazing rustic wine room complete with climate control to hold up to 700 bottles of you favorite wine. The outside features a multi tier deck with 3 separate sitting areas, a hot tub, and an amazing in-ground pool, all on over 2 acres.

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Home Information:

Beds: 5

Baths: 4.00

Sqft: 4310

Price: $369000

MLS #: 1322785

Weichert.com: Real Estate Career Opportunities

http://www.weichert.com/careers/?fromWDC=True

Weichert.com: Real Estate Career Opportunities

Consumer Financial Protection Bureau’s new mortgage loan disclosures try to do too much | Inman News

Consumer Financial Protection Bureau’s new mortgage loan disclosures try to do too much | Inman News

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1578 Van Buren Lexington, KY 40511

New listing video just posted:

http://video.circlepix.com/XB6DVT/483/1568

Description: Great all electric ranch home with large fenced yard. New tan plush carpet, fresh neutral paint, new vinyl in kitchen. Great home!

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Home Information:

Beds: 3

Baths: 1.00

Sqft: 975

Asking Price: $850

MLS #: 1320354

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665 Kenova Trce Lexington, KY 40511

New listing video just posted:

http://video.circlepix.com/D35E22/483/1568

Description: Huge home with finished basement, huge two tiered deck with private fenced backyard backs to tree line. Inside a formal living room is currently used as an office, a huge vaulted great room with fireplace, and a large open kitchen with island area, and a formal dining room round out the first floor. Upstairs features a large master suite with separate standup shower and garden tub, a large walk in closet, two large guest bedrooms with a Jack-N-Jill style bathroom. The laundry facilities are also on the sleeping level for convenience. The basement is finished with a really big living area, a full bathroom, and a large unfinished storage area. Freshly painted with Neutral Paint! Really nice property and with a lot to offer for the price.

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Home Information:

Beds: 3

Baths: 3.00

Sqft: 3130

Asking Price: $215000

MLS #: 1310713

YouTube video posted - via Circlepix.com

665 Kenova Trce Lexington, KY 40511

New listing video just posted:

http://video.circlepix.com/D35E22/483/1568

Description: Huge home with finished basement, huge two tiered deck with private fenced backyard backs to tree line. Inside a formal living room is currently used as an office, a huge vaulted great room with fireplace, and a large open kitchen with island area, and a formal dining room round out the first floor. Upstairs features a large master suite with separate standup shower and garden tub, a large walk in closet, two large guest bedrooms with a Jack-N-Jill style bathroom. The laundry facilities are also on the sleeping level for convenience. The basement is finished with a really big living area, a full bathroom, and a large unfinished storage area. Freshly painted with Neutral Paint! Really nice property and with a lot to offer for the price.

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Home Information:

Beds: 3

Baths: 3.00

Sqft: 3130

Asking Price: $215000

MLS #: 1310713

Real Estate and the Weather

So as many people know I am fascinated with the weather and how it affects peoples buying decisions. For instance the mad rush to buy all of the bread, milk, and gas in town ,which are for some reason a hot commodity, every time a weather forecaster simply utters the word snow, or "It could get interesting" in the long range forecast.

This is  theory I have been working on for a long time. (Weather Conspiracy 2008, Weather Conspiracy 2010) So how does this alter people's decisions to buy other things, like Lexington KY Real Estate? So before I spill out my theory I want to ask you. Does the weather affect your buying decisions (not bread, milk, and gas) for things like a new home, cars etc? Then we will look at the real numbers and what that waiting may actually be doing to you net worth and such later.

3 Reasons Why Buying or Selling a Home Over the Holidays Can Be a Good Idea

This time of year it is inevitable to hear, "I am just going to wait..." to buy or sell a home until the market picks back up in the Spring. It does make some sense to think that, however I am going to show you three reasons I thin its good for either.

3 Reason to Sell over the holidays:
1. Anyone out looking in the cold, snow, and taking time from family and shopping this time of year, must be serious!
2. Less competition, many sellers will not read this article and will take their home off market and come back with the herd in the spring with the other sellers who decided to wait.
3. The buyers will feel good in your home with a little foresight. The home is festive and subconsciously the buyers will feel more at home with all the Holiday decorations, smells, warmth. Christmas trees, music, decorations, eggnog, a fire....use your imagination and go all out. Think of these two movies as guides:  Think This    -  What its probably like in Real Life

3 Reasons to Buy of the Holidays:
1. Only serious sellers will have their home on the market this time of year, if it has been on the market since this summer, then maybe they realize they made the mistake and overpriced it then and are ready to sell it now. Rates and prices will go up you know....
2. Sellers are people too and are often more understanding of needs this time of year.  Flexible closing terms, concessions, lower price who knows what is possible.
3. You get the enjoy the festiveness of the home and see it in its full real life glory, not a lot of staged fakery going on this time of year. You can see the house for how it is really utilized bu the current family to gauge how it will be when you own it.

The bottom line is that there never really is a bad time to buy or sell a home. It comes down to the desire or need to buy or sell by both parties. My advice is now is a great time to buy, so fire up the family truckster or get the home decorated and call your Realtor and get to it.

You Ready? Click here to contact Ty....

Housing Market and Economic Outlook

State Median Price Expectation for Next 12 Months

State Median Price Expectation for Next 12 Months

Add to Google

Add to Google

Tax Incentives for Art Hotel in Downtown Lexington

 State approves $9 million tax rebate for 21c Museum Hotel in Lexington

By Beverly Fortune — bfortune@herald-leader.com

A proposed 21c Museum Hotel in downtown Lexington received approval Monday for up to $9 million in state tax incentives over a decade.

The Kentucky Tourism Development Finance Authority, which oversees tax credits for tourism and film-related projects, approved the sales tax credit for the 90-room hotel planned for Lexington's historic First National Bank Building.

To receive the tax rebate, a tourism project must cost more than $1 million, be open more than 100 days a year and attract at least 25 percent of its visitors from out-of-state by its fourth year of operation. The rebate is based on sales tax generated by the tourism attraction.

The 21c hotel is projected to exceed all of the tax rebate's requirements, said Gil Lawson, spokesman for the Kentucky Tourism, Arts and Heritage Cabinet. The boutique hotel has a budget of $42 million, will be open year-round and is expected to attract 42 percent of its visitors from out-of-state, he said.

The state's tourism authority heard a report Monday from Huden Strategic Partners, the consulting firm hired to review the 21c's application for incentives.

Other tourism projects that have been approved for tax incentives by the authority include the Newport Aquarium, Kentucky Speedway, the Ark Encounter and welcome centers at some of the distilleries on the Kentucky Bourbon Trail, Lawson said.

Louisville art collectors Laura Lee Brown and Steve Wilson opened the first 21c hotel in Louisville in 2006. In April, they announced plans to open a boutique hotel, art museum and restaurant in the 15-story former bank building at 167 West Main Street in Lexington.

In October, Lexington's Urban County Council approved a $1 million loan for 21c to be repaid over 10 years. The loan will be used to hire low- to moderate-income workers, said Craig Greenberg, president of 21c Museum Hotels. Money for the loan was left over from a federal Department of Housing and Urban Development grant originally given to the Lexington Festival Market project on West Main Street.

The hotel also is asking the city for a $6 million federal Department of Housing and Urban Development Section 108 loan, and to provide a $5.8 million tax-increment financing plan.

The Section 108 loan program was established to help cities finance economic development projects. As collateral, the city pledges future Community Development Block Grant money it receives annually from HUD. Lexington gets about $2 million a year in Community Block Grant money.

Under the tax-increment financing plan, the city would finance improvements using 80 percent of new property taxes and payroll taxes generated by the project over 20 years.

In December, the Kentucky Economic Development Finance Authority also approved a $500,000 tax-increment financing plan for a portion of the project. The money would be used for public infrastructure improvements such as curbs, sidewalks, street lighting and sewer upgrades, according to city documents.

The hotel project also will rely on a $14 million loan from Central Bank and federal historic and new-market tax credits.

The company has said work on renovating the historic bank building will get underway in 2013, with the hotel expected to open in 2014.

Beverly Fortune: (859) 231-3251. Twitter: @BFortune2010

Read more here: http://www.kentucky.com/2012/12/18/2448458/state-approves-9-million-tax-rebate.html#storylink=cpy

Read more here: http://www.kentucky.com/2012/12/18/2448458/state-approves-9-million-tax-rebate.html#storylink=cpy

The Basics

The Basics

Its funny how lately in real estate, and life for that matter, how complicated things have become. QR Codes, Smart Phones, Text Marketing, Tags, SEO, Dynamic Positioning, Key Words, Robots, Spiders, Organic Optimization, IDX, Listing Sync, Facebook, Twitter, Zillow, Trulia, Google, Ad Words, Pay per Click, click through rate, stickiness, social marketing, 24/7 Instant News Sources ….you get the point.

But what does this all do for us? How does this make what we do for our clients better? After all having a QR code on a listing sign may be cool, but how will it work? Does the buyer driving by have to stop the car on the street, get out of the car, walk into the sellers yard to get close enough to take a picture of the sign?  Maybe the picture can be taken from the car, but is that safe?

Is communicating with your Facebook friends and clients violations of Facebook terms, and client confidentiality and potentially violating your fiduciary responsibilities?

Does your personal website or company website and BLOG really warrant the investment in time and energy to compete against the big boys and girls in the industry? I read that our local board website www.LBAR.com was one of the top 30 visited MLS’s in the country this year so far. In a town of less than 300,000 people. Imagine that beating the big boys. But what does that say for me, and the other 2,000 other real estate professionals out there who pen $25-$1,000 a month for websites and all the bells an whistles to market it and get leads? Is it worth it? Or would our time be better spent elsewhere?

Has that paradigm shifted in the market and we are yet to face it? Here is the question I am proposing here. What about the basics? 

I venture to say that every professional reading this post will agree, publicly or not is a different issue, that if being 100% honest with yourself you will find the following challenge and proposed theory to be true. Here is the challenge:

Log in to your MLS or black book, day planner, whatever you use and go back search for your last 5 years business (or as far as you can go back) - closed, expireds, deleted, actives, pendings all of it and print them out, and evaluate each one. Then for as many as you can write down where that business came from. i.e personal sphere of influence, open house, referral, past client, online client, third party source, walk in, sign call convert, yellow pages, cold call…whatever your categories are, just stay consistent in placing them. Then once you have done this go through and total up how many in each category. For example of the 100 sales, X came from sign calls, X from personal referrals, X from online,….. My theory is that an overwhelming percentage came from “old school” techniques, such as personal referrals, sphere of influence, sign calls, personal generated marketing, walk ins and a small minority came from online leads from personal website, third party leads, QR codes, text marketing, etc.

NOW does this mean that these other new fangled techniques are a waste of time and money? No, probably not. Does it mean that next year that QR codes will not become a bigger percentage maybe, maybe not. But I speculate it does mean that most of our time should be spent on proven, repeatable, productive activities. Such as….well that is a post of next week, this is enough to think about for now.  

The point is that we as Realtors® and other sales professionals can get wrapped up in all the gadgets and glitz, and forget about the basics. Maybe its more its important to do the basics, and then add a little glitz, and gadgets. 

My New Company

Always looking for an opportunity I have seized the opportunity to create the Kentucky American Air Company. Noticing the apparent need to create private companies to package and sell the vital life giving necessities of life for profit, and the willingness of the PSCSC's (Public So-Called Service Commission) to allow these generous companies the right to make a substaitial profit to provide these vital services. When interview the PSCSC's chairman, Adolf Richard Head, said "You know these vital companies provide a life sustaining and necessary product, that while available to everyone already they make it easy to get, and clean enough that you only have to filter it or buy it bottled if you pan to ingest it, and we need to make sure that these German....er...uh...great companies are allowed to make a substaitial profit on that service. Afterall air isn't free, really you know." Mr. Head then mumbled almost inaudibly as he sped away in his AMC Mercedes "If they don't like it then they can get their air somewhere else, or well die."

So as you can see there is a great opportunity here, hell its practically a monopoly. So with that being said for this great service we are going to only charge a reasonable fee of $.01 per cubic foot of air, which we calculate as the average capacity of the adult lung per breath and makes sense to us as a measurable unit. Pleas note we have already announced plans to ask for small increases over the next couple years and we provide more air just in case we need it in the future, but no more than 60%, but this year it will only be 37%, which we feel is reasonable considering the cost we have to take on to provide this service and the effect it may have on our share holders with out the raise. Yes these services were subsidized and partially provided by government and developers, and yes they pay for most of that, but we have to be able to pay all of our employees to monitor the increased future usage and quality of our product. Also storage of this new air will be difficult as nature you know is a very inefficient care taker of such resources, the facilities are simply not there for such capabilities. That being said our collection department will be very reasonable and we commit to only use as our last resort, the plactic bag over the head cutoff method for chronic non payers, after all they shouldn't be able to use the product we all need to live for free. And use that only as long as it takes them to find an alternative supplier of air in their neighborhood. Because after all we are a private enterprise, the market is unpredictable out there these days with opportunistic governments and eager beavers everywhere, anyone can come along tomorrow and beat us out of the market with another air company you know.

So I am pleased to announce that effective immediately we are in operation, and legal owner of all the air around you. You will see your first bill soon. Please note we reserve the right to increase our rates at any time to ensure a substantial, but fair, profit for our share holders, and remeber they are air breathers too, so are we, so we are really all in this together.

We are concerned that this rate increase may be a stretch for some and we understand this, but if you would like to come by our office we have a pamphlet we have designed, at our own cost, to educate you as to how to conserve air, and lower your new higher bill each month. Common sense ideas such as rebreathing methods, and not over exerting yourself which uses more air, and always remember to use air wisely after all we all need it.

Thank You

Me, Owner and Air Czar KAAC

Realtor Call to Action Success

	To: All REALTORS® From: Vicki Cox Golder, 2010 NAR President Date: July 1, 2010 Re: NAR Update: Tax Credit Deadline Extended; Flood Insurance Program Reinstated Dear fellow REALTOR®, I am happy to report that Congress has passed a bill extending the Homebuyer Tax Credit closing deadline to September 30, 2010. This is a huge win for REALTORS® and homebuyers, and NAR worked closely with members of Congress to make it happen. The extension applies only to transactions that had ratified contracts in place as of April 30, 2010, and have not yet closed. There will be no gap between June 30 and the date the President signs the bill into law. Additionally, Congress has extended the National Flood Insurance Program (NFIP) through September 30th. The bill is retroactive and will cover the lapse period from June 1, 2010, to the date the law is enacted. NAR will continue to work with Congress on the NFIP Reform bill, and we will keep you posted on those efforts. For additional information on both the tax credit deadline and the NFIP, visit Realtor.org/Government_Affairs. Neither of these bills would have passed without your support. Nearly 83,000 REALTORS® responded to our latest Call for Action, sending more than 250,000 letters to Congress asking them to extend the National Flood Insurance Program. I know many of you also raised your voices in support of extending the tax credit deadline. On behalf of NAR, I thank you, and I ask that you visit the RealtorActionCenter.com and make your voice heard on every issue. Sincerely, Vicki Cox Golder, CRB

Daily Crazy Real Estate Happening

Daily it seems I see something or hear something in this business that makes me ask, "Why Would Anyone..." "Do This", "Hire Him", "Ask This", the end part of the question has many possibilities, but the first part is the same. Today's winner so far is this....

I met a prospective tenant today at a rental property, and these are always interesting. When he expressed interest I handed him the rental application, which he filled out, but for privacy reasons all I will say is it was questionable. He works as a "cooker" at a McDonald's that doesn't exist, which is one big red flag I found, and he said he lived at an address I was sure was fake too right around the corner. When I saw that I asked him a few questions to see if this was for real or not...

Me - "May I Contact Your Previous Landlord for a reference?"

Prospective Tenant - "NO cause that's why we's moving, he is kicking us out cause we are late on rent we are only 3 months behind, we already paid off February and now only owe the rest, so he said he is throwing our stuff out tomorrow, he wasn't wiling to work with us because he is too rich. Shoot I don't even know his number....so that is why we need to move in today. I got the money"

Me - Uh OK. Do you all have any pets?

Him - Yes we got a small dog.

Me - What kind of Dog?

Him - Little one

Me - What Kind of Little dog is it a Jack Russell, a poodle?

Him - No a Pit Bull, but he is little.

Thank the Lord I don't accept pets!

This illustrates the reason and need for someone to professionally manage your rental property for you, I mean even though this is my personal property I was renting, if all I wanted to do was rent it, he may be in there right now. I am sure this would not have went well.....

New Ranking: Best for Education and Families

More Good News for Lexington..re post Commerce Lexington

New Ranking: Best for Education and Families

My List

Here is my ongoing list of my biggest pain in the butt companies and things to deal with....

Worst Companies... (Previous Rank)

1. AT&T Wireless (2)
2. Columbis Gas (1)
3. KY American Water (3)
4. Chase Bank (4)
5. National City Bank (5)
6. Any Bank (6)

Pet Peeves Related to Realty Business

1. Not showing up for a showing appointment
2. Not accurate listing info on MLS
3. Know it all clients or stakeholders
4. Wallpaper
5. Bad door knobs

Lexington home sales up 13 percent, region up 7 percent

By Scott Sloan - ssloan@herald-leader.com
The Lexington-Bluegrass Association of Realtors said home sales in and around Lexington grew in the third quarter, with September particularly strong. Residential sales rose 13 percent in Lexington and 7 percent in the region as a whole.
The growth for the full quarter, although lower, was still growth, which has been tough to come by as the real estate market suffered during the recession.
The number of residential real estate sales that closed during the third quarter in Lexington increased 4.7 percent, the Lexington-Bluegrass Association of Realtors said Thursday. In the 14-county area served by LBAR's members, single-family sales were up 4 percent.
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During the quarter in Lexington, 1,194 sales closed, up from 1,140 in the same quarter of 2008. Sales were gaining momentum as the quarter ended, with a 13 percent rise in September with 347 sales, 40 more than a year ago.
During the quarter in the region, 2,110 sales closed, up from 2,028 in the same quarter of 2008. Sales also gained momentum as the quarter ended with a 6.7 percent rise in September. That month saw 651 sales, 41 more than a year ago.
September is the first month this year that home sales in the region exceeded their 2007 figures, according to the data provided by LBAR's members.
Sales declined 0.7 percent in the region in August but were up 6.2 percent in July.
In Lexington, sales were up just 1.7 percent throughout July and August. The months are not broken out separately in LBAR's statistical report.
Year-over-year price changes varied during the quarter. Lexington saw a substantial decline in the median sales price for residential sales in September: The price fell 7.5 percent to $149,838 from $162,000 a year ago.
The region saw varied results. In July, the median sales price for residential homes was $147,398, down 1.7 percent year-over-year. In August, it fell to $144,000 from $152,900 in August 2008, a drop of 5.8 percent. In September, the percentage drop-off narrowed to 1.8 percent with a median sales price of $140,000.
Central Kentucky's drop in sales prices has not been as pronounced during the recession as other areas of the country.
The average days on the market for a single-family home in the region was 78 at the end of the quarter, down from 93 a year earlier. Lexington was better with an average days on market of 66 compared to 69 a year ago.
The inventory of homes also was down in the region, with 6,238 for sale in September 2009, a drop of 5.4 percent.
"Interest rates are very low; there is a good selection of homes on the market and there is no reason not to be able find the home of your choice," LBAR president Gale Fulton said in a statement.

Does this Sound Familiar?

Not that I am for taking the horse farms and turning them into subdivisions, I am not, but maybe we could learn something from here in Central KY?

Urban planning to blame for housing bubble? - REAL Trends

Between 2000 and the bubble's peak, inflation- adjusted housing prices in California and Florida more than doubled, and since the peak they have fallen by 20 to 30 percent. In contrast, housing prices in Georgia and Texas grew by only about 20 to 25 percent, and they haven't significantly declined. In other words, California and Florida housing bubbled, but Georgia and Texas housing did not. This is not because people don't want to live in Georgia and Texas: since 2000, Atlanta, Dallas-Ft. Worth, and Houston have been the nation's fastest-growing urban areas, each growing by more than 120,000 people per year. According to a new study by the CATO Institute and Randal O'Toole, this suggests that local factors, not national policies, were a necessary condition for the housing bubbles where they took place. The most important factor that distinguishes states like California and Florida from states like Georgia and Texas is the amount of regulation imposed on landowners and developers, and in particular a regulatory system known as growth management. In short, restrictive growth management was a necessary condition for the housing bubble, says the study. Read more click here.
Real Trends Comment: Thomas Sowell's book, "Housing Boom and Bust" is one great read to understand how it was government involvement at all levels, local, state and federal, that was mostly responsible for both the boom and the bust in housing. At local and state levels, governmental action to reduce the land available for development and the cost of development caused huge price bubbles that exacerbated the wild swings in prices in such markets as San Francisco and Los Angeles when compared to cities like Atlanta and Houston. At the federal level the stimulus to accelerate low income households entry into homeownership caused Fannie and Freddie to purchase too many low downpayment and low credit scoring families - ending with the high foreclosure rates even before the recession.

Extend or Not to Extend

I will make this short and sweet, which is unusual for me, but anyone either in the market to buy or sell, or a real estate professional has an opinion on this current first time buyer tax credit. Now to debate the actual effects of the credit, good or bad, or how it is or is not market manipulation or control at some level is beyond the scope of this post, no matter how well founded or accurate they may or may not be. But like the cash for clunkers this is indeed creating a real shift in demand at least in the short term. Again the long term effect will be another matter all togeher for another time. So here are the top 3 pros and cons as I see it as a real estate professional and a property investor. And my idea to continue the plan so there is no cash for clunker type hangover period should it expire as set to do so in a matter of weeks.
Pro's:
1. Stimulates many on the fence buyers to go ahead an purchase property now rather than later
2. Helps to reduce the inventory available and in theory stabilize prices in the target price range.
3. Gives real a tangible monetary benefit to the average person, not an untangible corporation or group
Con's:
1. Limited to the typical first time home buyer target market and price range which may not address problems that created the current climate
2. Artificial inducement to act may create hangover effect in the future and creates minimum expectation standard for the future, and which may arguably be the root of the problem in the first place
3. By creating a hard deadline creates problems by rushing to act by too much of a sense of urgency to act.
My solution:
Now the numbers are arbitrary and can and should be adjusted as required for area and budget reasons. But here is a plan I think could be introduced to extend and most importantly expand the current credit.
The Ty Brown Real Estate Stimulus and Recovery Act of 2009
- $8,000 Federal Tax Credit in the first year for ANY owner occupied purchaser to be given to the buyer similar to the same current guidelines, except open to ALL buyers.
- and additional $1,000 interest credit towards federal taxes for each of the next 6 years the purchaser remains in the home.
- $2,000 incentive to purchaser to make home more energy efficient should home be in need, again similar to current guidelines -or-
-$8,000 principal reduction credit for a current seller that must sell their home that in turn purchases a new home that will lower their monthly mortgage payment by at least 20%. Then they would not be eligible for the $8,000 credit but would be eligible for the $1,000 interest credit and energy efficiency credit.
So this would be a great deal for someone that wanted to sell their home and couldnt because the value has decreased. They could lower their price by $8,000, the buyer could still use the $8,000 toward the purchase, and both could go to a new home and use the remaining credits.
The two biggest hurdles are 1. Who would fund the $8,000 principle reduction, and 2. Again is this TOO much artificial stimulus in a open market....

For more people, scales tip toward buying a home

By ALEX VEIGA, AP Real Estate Writer Alex Veiga, Ap Real Estate Writer – Tue Jul 21, 5:52 pm ET

For Aaron Carter, a musician who was struggling to fit a drum set, a piano and three guitars into his 600-square-foot apartment in Phoenix, the math on owning a home finally began to work in his favor.Rent for the apartment he shared with his wife: $615. Mortgage payment for a home with twice the space: $760. And the interest on a mortgage is tax-deductible. So they jumped at the chance to buy some elbow room."We figured that everything together, getting more space, getting out of the apartment life and also just the prices right now, it just was the perfect time for us as a couple" to buy, said Carter, 20.For Americans debating whether to buy or rent their homes, the scales are tipping toward ownership. Because of the slide in home prices, low interest rates and tax incentives, renters are realizing they could handle a mortgage for a just little more money.An Associated Press analysis of 45 metro areas finds the gap between the monthly mortgage payment on a median-priced home and the median rent has shrunk from $777 a month to just $221 in the past three years.It could mean a quicker end to the housing-market doldrums, as renters buy up unsold homes languishing on the market.In some metro areas, including Cleveland, Atlanta, Indianapolis and St. Louis, the gap was less than $100 a month. And home prices are expected to fall faster than rents this year, which means the gap should get even smaller.In once-inflated markets like Phoenix, Las Vegas and inland swaths of California and Florida, where prices have tumbled more than 40 percent, sales are rising because first-time homebuyers are snapping up bargain-priced homes.They are getting help from a federal tax credit that covers 10 percent of the home price or up to $8,000 for first-time buyers who earn up to $75,000 a year, or $150,000 for a couple. The credit expires at the end of November.Cheap foreclosures in some of those markets are now drawing multiple bids. As supply and demand even out, home prices will eventually begin to rise. But for now buyers are having little trouble finding bargains.Jere Ross, an Air Force vehicle operator, and his wife recently bought a four-bedroom, 1 1/2-bath house in Zephyrhills, Fla., a Tampa suburb, for $86,500 rather than jump into another yearlong apartment lease.Ross, 23, used a Veterans Administration loan, which doesn't require a down payment, and got a 30-year mortgage at a fixed rate of 5.5 percent. His monthly payment comes to $700 a month, including property taxes and insurance — $110 less than he paid to rent an apartment nearly half the size."It just came to a point where we were just throwing our money away on rent," Ross said. "When it came to find out that we could own this house for, less than what we're paying in rent, it was a 'no duh!' kind of moment."The study, conducted for the AP by Marcus & Millichap Real Estate Investment Services, used prices for the first three months of this year.It calculated mortgage payments by assuming a 10 percent down payment, a 30-year fixed loan at 5.15 percent, and taxes and insurance that added up to 1.5 percent of the purchase price. It assumed borrowers used private mortgage insurance.While the analysis found the gap between what it costs to own and rent is shrinking, it's still too wide for millions who live paycheck to paycheck.Renters with jobs in the education, retail and transportation industries don't earn enough to rent the average two-bedroom apartment in many of these major cities, let alone buy, according to a recent study of 200 metro areas by the Center for Housing Policy.Renters who want to become homeowners also face the obstacles of scraping together a down payment and qualifying for the loan. And renters with a record of paying bills late will have a hard time getting a low interest rate."There's still those buyers that are having trouble getting financed," says Brad Snyder, an agent with ZipRealty in Las Vegas. "A lot of them are still just looking for that easy way in, and it's just not there."Homeowners also have to shoulder many costs renters don't face — association fees, insurance, some utilities. And there are still cities, among them San Francisco and Los Angeles, where it's usually still more affordable to rent — even though home prices have fallen more than 30 percent.Mike Sigal, a longtime renter in San Francisco, has looked at buying a home for the past couple of years. But buying one comparable to the two-bedroom, two-bath apartment he has now would cost more than $600,000, meaning the mortgage would far exceed his $1,800 rent."The math doesn't come out," said Sigal, 42, who runs an information services company. "I've got extreme value for my rent."Nevertheless, homes in some parts of country are more affordable than they've been in decades. Even Dean Baker, an economist who sounded early warnings about the housing bubble and sold his own condo in 2004, has come around.Baker, co-director of the Center for Economic and Policy Research in Washington, bought a five-bedroom house last month for $650,000, which he figures is about 20 percent below what it would have gone for at the peak of the market."We feel we got a pretty good deal," Baker said.By buying, he accepted the risk that he might lose money if home values keep dropping. "We'll probably end up more or less even," he said. "Depending how much further down they go."

Breaking News!

For the first time I have noticed in a long time, and yes its the last day of the month, and quarter, but pendings and solds, and even solds along have surpassed new listings. At least as of 4:21 pm. Note there are even 5 price increases...watch out!
LBAR
24-Hour Market Watch

New Listings 70
Back on Market 11
Price Increases 5
Price Reductions 53
Pendings 38
Solds 80
Expireds 19
Inactives 18

Asbestos and Insulation Tips

Kentucky Home Safety Tips & Asbestos Prevention

Purchasing or moving into a new home is the investment of a
lifetime. It will insure you and your family will have a safe and
healthy home for a long foreseeable future. However, it is also time
where additional responsibilities will be brought into your life.
Having the assistance of a reliable and honest Kentucky real estate
agent will make all the difference in the world.

Asbestos Tips

Used throughout the 20th century to insulate pipes, boilers and in
roofing, asbestos gained recognition due to its resistance to heat and
electrical conductivity. Homes built before 1980 may still contain
asbestos. Its main uses were found as insulation, piping, brake lining,
flooring and roofing. Asbestos exposure incidents in Kentucky have
mainly occurred as a result of industrial sites.

If asbestos is located, it must be left un-touched until a
professional can provide a course of action. In many situations, the
best action is no action. Asbestos that is disturbed or damaged due to
age is known as "friable" asbestos. This is a concern because its toxic
fibers can easily circulate and become inhaled.

Frequent and long term exposure to asbestos has been known to cause asbestosis and sarcomatoid mesothelioma,
two forms of asbestos lung cancer. Asbestos-related illnesses may not
appear until 20 to 50 years after exposure and may have symptoms which
are commonly found with less serious illnesses. This makes mesothelioma diagnosis even more difficult for physicians.

Sometimes, the best action is no action. If asbestos removal is
necessary, it should be performed by licensed abatement contractors who
are trained in handling toxic materials. The Kentucky Division for Air Quality strives to protect the environment and civilian health by monitoring and assisting in the disposal and removal of asbestos.

Green = Healthier and Cost Efficient Homes

Recently, congress passed the American Recovery and Reinvestment
Act. Included in this act were extensions to the tax incentives placed
for energy efficiency in 2005, as well as new credits for homeowners
who remodel or build using eco-sustainable methods. This promotes
incentives for home or business owners who implement green building
methods into their property.

Many locations throughout the United States are swiftly changing
their construction practices to suit the environment and the health of
human beings. Promoting new ways of building construction and
insulation, there are new regulations being put on older methods which
are now known to be harmful.

Most people are unaware to the fact that eco-friendly products can
cut energy costs by 25 % per year. These include the use of cotton
fiber, lcynene foam and cellulose. These alternatives have the same
flame resistant, durable qualities of asbestos, except they are
eco-friendly and safe.

Conducting a study in 2003, the United States Green Building Council
also reported a savings of $50 to $65 for green constructed buildings.
Rather than expensive and mal-treated wood, interior walls can be made
from steel and concrete, avoiding many of the problems associated with
asbestos and other insulation methods.

Jesse Herman

Mesothelioma Cancer Center

jesse@asbestos.com

National vs Local Stats

Local vs. National News
OK once again I am going to say it, All Real Estate is Local, meaning I don't really care what Las Vegas is doing, and I REALLY do not care about California. So why is it that that is all we hear about? Florida is a little closer to home, and well New York is understandable, but still not relavant to Lexington, or Kentucky for that matter. However we have to realize this is what our clients see everyday. Like the article on Yahoo today...Home prices post 18.1 percent annual drop in AprilWidely watched index shows home prices down by 18.1 pct. in April, but trend is stabilizing Case-Schiller? Again that is only 20 cities, and none of them are in Kentucky. Plus it says that 8 of the 20 posted gains. WHO CARES ABOUT VEGAS!? But this seems to contradict what NAR says...Take a look at the recent local KAR and LBAR numbers to see what is happening in Kentucky and Lexington. Which one of these makes more sense to you and your clients who may be selling or buying a home? So share it...

What to Look for On Your First Investment Property

Here is a repost of a past article that I find very helpful still....

What to Look for On Your First Investment Property
I have already given you my 5 tips to make an investment purchase profitable.
But until you have done several deals, you may not know how to decide how to make the first one. So here are the things I look for in the property itself, the actual physical real property. Here are the 11 things I consider when I buy a property and again there are others, and there can be limitless different scenarios, which is why I think you must consult a professional Realtor to help. But here is what I look for and what I tell me clients to look for. —Disclaimer this should not be considered in any fashion a replacement for a full property inspection by a licensed professional or inspector. Please have this done on ANY property you consider especially the first few. Any real estate professional can help you include that language in your contract, regardless of the seller. Auctions can be an exception so use caution.

1. Easy cheap fixes – Is a home not selling because it has a bad paint job? Old outdated wall paper, is dirty, or needs landscaping? These are easy inexpensive fixes that can be a good buying opportunity. Always plan to repaint any home you buy to re-sell, its and easy cheap way to make almost any home look better. Pay particular attention to curb appeal and the entrance and little things like door knobs, lighting, and light switch covers.

2. Kitchen – Old cabinets fixtures and appliances are a big expense, but often necessary. If the kitchen is a wreck it can be an opportunity to add value and possibly get a better deal. If the space is good however they are a great investment. If they are in good shape and in working order that is a big, big plus.

3. Flooring – I love to see old worn out carpet over hardwood! 8 out of 10 times if you can see hardwood you can refinish it and make it look nice. Pet stains are a big problem sometimes, but a lot of people like the used antiquy (sic) look of older hardwood. Beware that many homes seem to have one bedroom that has something other than hardwood under there, I am not sure why but they do VERY often, so always plan to re-carpet the bedrooms.

4. Windows – The worse the better. Nothing makes a home look and sell better than new clean high efficient windows. Unless they have been replaced in the last few years plan to rip them out and replace them.

5. Heat and Air Units – Look for newer units with good brand names! If they are old they are costly to replace. Remember the new 13 SEER regulation, the old ones soon may not be able to be fixed even if they are not real old.

6. Foundation – Look for cracks and undermining of the soil around the foundation particularly near the down spouts. These are generally bad, and expensive to fix. Small cracks are usually OK, as all concrete will crack, but displaced, shifting, diagonally cracked blocks are usually not good.

7. Layout – Not only the room dimensions but the layout and style. In my opinion ranches are the best bet to start, as they are pretty straight forward and less can go wrong. But often the bathrooms or kitchens are deficient. However this is often easily fixed, but again it costs money so keep that in mind.

8. Lot/parking – Consider the slope of the yard and how useable it is, fencing and privacy are good. Looking around to see what is behind and around the house is also important. Is there sufficient parking?

9. Electrical – Look for an updated service panel in an older home, and check to see if any panel is full, old school fuse boxes are usually not a good idea. This could mean that you have to spend good money to be able to add circuits or could be a dangerous situation. This is best left to a professional licensed professional but a quick look can go a long way initially.

10. Plumbing – This can be especially tricky in vacant homes that may or may not have been winterized. Frozen pipes are usually not discovered until too late. Also pay attention to the tub or shower, one that appears to be in good shape can save a lot of money as it can be saved.

11. Roof – If there is any doubt about the integrity of a roof plan to replace it. The key is to find a nice looking flat roof, with no missing, bent, or damaged shingles. Always look in the attic for signs of leaking and on the ceiling. Leaks are not always bad if you can find the source and repair them easily. Also since you are doing the roof it’s a good idea to have new gutters and downspouts put on too.

Only in KY - More Good Press! - Louisville of Course

Gun-loving pastor to his flock: Piece be with you

AP – Ken Pagano, pastor of New Bethel Church in Louisville, Kentucky, talks, Wednesday, June 3, 2009, about …
By DYLAN T. LOVAN, Associated Press Writer Dylan T. Lovan, Associated Press Writer – Thu Jun 4, 5:50 pm ET
LOUISVILLE, Ky. – A Kentucky pastor is inviting his flock to bring guns to church to celebrate the Fourth of July and the Second Amendment.
New Bethel Church is welcoming "responsible handgun owners" to wear their firearms inside the church June 27, a Saturday. An ad says there will be a handgun raffle, patriotic music and information on gun safety.
"We're just going to celebrate the upcoming theme of the birth of our nation," said pastor Ken Pagano. "And we're not ashamed to say that there was a strong belief in God and firearms — without that this country wouldn't be here."
The guns must be unloaded and private security will check visitors at the door, Pagano said.
He said recent church shootings, including the killing Sunday of a late-term abortion provider in Kansas, which he condemned, highlight the need to promote safe gun ownership. The New Bethel Church event was planned months before Dr. George Tiller was shot to death in a Wichita church.
Kentucky allows residents to openly carry guns in public with some restrictions. Gun owners carrying concealed weapons must have state-issued permits and can't take them to schools, jails or bars, among other exceptions.
Pagano's Protestant church, which attracts up to 150 people to Sunday services, is a member of the Assemblies of God. The former Marine and handgun instructor said he expected some backlash, but has heard only a "little bit" of criticism of the gun event.
John Phillips, an Arkansas pastor who was shot twice while leading a service at his former church in 1986, said a house of worship is no place for firearms.
"A church is designated as a safe haven, it's a place of worship," said Phillips, who was shot by a church member's relative for an unknown reason and still has a bullet lodged in his spine. "It is unconscionable to me to think that a church would be a place that you would even want to bring a weapon."
Phillips spoke out against a bill before the Arkansas General Assembly that would have permitted the carrying of guns in that state's churches. The bill failed in February.
Pagano, 50, said some members of his church were concerned that President Obama's administration could restrict gun ownership, and they supported the plan for the event when Pagano asked their opinion.
Marian McClure Taylor, executive director of the Kentucky Council of Churches, an umbrella organization for 11 Christian denominations in Kentucky, said Christian churches are promoters of peace, but "most allow for arms to be taken up under certain conditions."
Taylor said Pagano assured her the event would focus on promoting responsible gun ownership and any proceeds would go to charity.
"Those two commitments are consistent with the high value the Assemblies of God churches place on human life," she said in an e-mail message.
Pagano is encouraging church members to bring a canned good and a friend to the event. He said guns must be unloaded for insurance purposes and safety reasons.
He said the point was not to mix worship with guns, though he may reference some passages from the Bible.
"Firearms can be evil and they can be useful," he said. "We're just trying to promote responsible gun ownership and gun safety."

More on CentrePoint Fiasco

If CentrePointe financing fails, Webb has plans B and C, he said
By Beverly Fortune - bfortune@herald-leader.com
Developer Dudley Webb told the Lexington Forum on Thursday he has a Plan B and Plan C for financing for the CentrePointe project and if those plans don't work, he will look for fill dirt to level the site and plant grass.
Also, Webb said he remains optimistic that funding from his unnamed, deceased, financial backer will still come through. He said assets of the international investor's estate are being held in numbered Swiss bank accounts.
Conversations with the man's family indicate they are aware of his commitment of $250 million to finance Webb's luxury hotel and condominium project on West Main Street in downtown Lexington, Webb said.
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Their concern is, on the advice of their attorney, that the funds are there, Webb said.
Recently, Webb and the family reached a compromise that Webb will not look to them to finance CentrePointe if the money isn't the estate.
Webb was notified in late September of the death of the major investor in this project, Webb said. The investor had signed an agreement to provide the funding for the project in June 2008.
Webb and his nephew Woodford Webb are developers for the proposed project. A major portion of the land is owned by businessman Joe Rosenberg and his family.
Webb said he had evidence one year ago that the investor had earmarked $550 million for three projects in the United States, one of which was CentrePointe.
When Webb revealed in April that the investor had died without a will, concern was raised about whether the building would be built. Lexington Vice Mayor Jim Gray said the community had been hoodwinked.
"Believe me, neither the Rosenberg family or we would have gone in and torn down buildings if we didn't think the funding was there for building this project," he said Thursday morning.
Webb also revealed that an original partner in the CentrePointe, John Anderson, backed out of the project a year ago. Anderson had lined up financing with a bank in Atlanta, Webb said. Anderson has developed other project including Marriott hotels, Webb said.
Webb's Plan B includes another unnamed investor, he said. Plan C, he said, involves an unnamed bank "in the states that is interested in getting involved in helping us do this deal."
Earlier in the week, Webb said he had an offer of 20,000 cubic yards of fill dirt that could be used to level the site. If The Webb Companies could get the dirt for free, it would spread it and plant grass, he said. But he said, he "would hate to spend $200,000 to $300,000" to fill the building site hole when in 90 days, construction might begin.
However, he's tempted to take that step, "to shut these people up," he said, referring to the critics of the site.

World Equestrian Games Rentals on WTVQ

http://www.youtube.com/watch?v=dT07kZOBv4g