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Real Estate 101 with The Melinda Duncan Team

The Melinda Duncan Team

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#3 RE/MAX Agent in Kentucky, Melinda Duncan

by The Melinda Duncan Team

Melinda Duncan was named the #3 RE/MAX Agent in the State of Kentucky. Melinda thanks all of her clients and friends for putting their trust in her. It is a pleasure for her to represent RE/MAX Creative Realty and she can't wait to be #1 in 2015! Customer satisfaction and a positive attitude make her the best. 

University of Kentucky Employer Assisted Housing Program (EAHP)

by The Melinda Duncan Team

UK offers great benefits to eligible employees.  The Employer Assisted Housing Program (EAHP) is a wonderful resource to help eligible employees purchase a home near campus, within certain areas of Lexington. The most current information can be found here: http://www.uky.edu/hr/benefits/other-benefits/employer-assisted-housing-program-eahp

The University of Kentucky operates an employer assisted housing program for eligible employees. This program provides “forgivable loans” of up to $15,000 to eligible employees for down payment, closing cost, rehabilitation and renovation assistance for the purchase of houses, condominiums, town houses and duplexes in the designated neighborhood revitalization areas. The loans will be secured by a lien on the property. Each participating employee agrees to live in the home purchased through this program for at least five (5) years, after which the lien will be removed.

Eligibility

The following employees are eligible for this program: 1) Regular full-time faculty at the rank of instructor or assistant professor are eligible immediately upon the receiving a contract for the academic year, or 2) Regular full-time staff employees at grade level 46 or below are eligible after completing the 90-day, new employee orientation period.

The normal asset limit for employees to participate in this program is $60,000. These assets include, but are not limited to, real property or equity in real property, stocks, bonds, certificates of deposit, shares in mutual funds, and cash. Assets excluded from this limit include personal vehicles and tax deferred retirement funds [403(b), 401(k), IRAs, and so on]. Employees with assets totaling more than $60,000 may request a waiver from the Executive Vice President for Finance and Administration.
 

View the Map of Eligible properties here:

http://www.uky.edu/hr/sites/www.uky.edu.hr/files/benefits_eahp_map.pdf

 

A Growing Market Calls for a Growing Team

by The Melinda Duncan Team

From Left to Right: Maritha Madsen, Melinda Duncan, Jordan James, Jordan Harpring, Kellye Wells and Katie Bohon.

We would like to welcome our new members.  As the market has come back into full swing we needed all hands on deck to help with the details of each transaction.  Maritha stays busy staging new listings, Jordan James is a new Realtor working with Buyers and Katie Bohon is our new customer care manager. 

 

Halloween Pumpkins

by The Melinda Duncan Team

Although I have been working with Melinda for years, this was my first year to experience pumpkin delivery.  Melinda purchases over 150 pumpkins every year and drops them by to her clients homes.  I did not know how much was involved with this process, I was surprised to find out that only 25 pumpkins at a time fit into my car, after we get 2 car loads of pumpkins we take them back to Melinda's house where we spread them out in the driveway to prepare them for a spray down with the hose.  After they are soaked then we all grabbed our scrub brushes and scrubbed the mud and grime away.  They then get rinsed and set in the sun to dry.  Only then do we begin the delivery process.  It was so much fun being part of such a fun and thoughtful service to our clients.  Happy Halloween!

Should I stay or should I go?

by The Melinda Duncan Team

Many buyers and sellers are sitting on the fence trying to decide whether it's the right time to buy or sell.  How do you know when the time is right?  Well as the the guru's of real estate have been saying for some time if you are waiting for the market to hit the bottom to buy, we only know it's hit bottom when we are on the way back up!  For sellers, if you are waiting for prices to start back up you may make a bit more on your home but you will also pay more to buy your new home.

Interest rates are still at historic lows.  As rates start to rise this will make the cost of buying a home even higher.  Now is the time to speak to a lender and see how much money buying now will save you.  Don't forget the tax credit for first time home buyers and those that have not owned a home for the past three years!

Call today and let us show you how we can help.

 

How can you get $8,000 for buying a home?

by The Melinda Duncan Team

Most of us have heard about the government's new stimulus package (unless you've been out of the country, in a coma or under a rock).  But, not many understand how it will benefit them.  I'm not here to explain all the details but just the one that pertains to buying a home.  Did you know that the government is considering anyone that has never owned a home or has not owned in the last three years a first time home buyer? 

The new stimulus package is offering a tax credit (not a loan like the 2008 package) of $8,000 to any eligible buyer that is a first time home buyer or has not owned a home in the last three years.  There are some income limits and you should consult with a tax attorney before any major purchase but what better time to buy than now?

If you'd like any information on buying a home or the new tax credit, give us a call today and we'd love to help.  You can reach The Melinda Duncan Team at 859-422-2035.

Short sales, how can they help me?

by The Melinda Duncan Team

The buzzwords today are short sales.  How might this affect you?  Well, for those of you that are in the unfortunate situation of falling behind on your payments or have gotten into a bad financial state this may be an answer to your worries.   A short sale is a better option than foreclosure.

With all the efforts of the government your best bet is always to contact your lender and try to work out an affordable payment schedule or refinancing with better terms but sometimes neither is possible.  If you find yourself in this situation, let us help you.  We will market your property and once we get an accepted offer we will negotiate on your behalf with your lender to take less than the amount owed on the loan but releasing the lien and therefore releasing you from your burden.

First and foremost don't wait until you get a foreclosure warning.  The quicker we start the quicker a resolution.  Make sure you get an up to date payoff on any and all mortgages on the property.  Sellers are often shocked and surprised by the fees and penalties that quickly add up.

Call The Melinda Duncan Team and let us show you how we can help you.  We offer a complimentary consultation and we will keep your business private.  You can reach us at 859-422-2035.

Wow! What a market!

by The Melinda Duncan Team

Well, this week has certainly been a busy time both locally and nationally in the housing market.  We are seeing how volatile the market really is.  First, the Herald Leader reported that permits on new homes in Fayette County and six surrounding counties have dropped over 43 percent from 2007.  This shows how the new construction market has gone into a downward spiral.  Builders are no longer building spec homes but instead are waiting for buyers to purchase the home and then they begin construction.  This may help those trying to sell existing homes since most buyers need to move in a timely manner.

Secondly, as you may have heard the government has taken over Freddie Mac and Fannie Mae.  With the government controlling these entities it has once again instilled confidence in lending.   With this take over mortgage interest rates have dropped significantly.  This should spur some action in the real estate market.  According to many lenders rates should stay down in the 5 to 6 point range for some time.

This is a great time to buy if you have been contemplating it and waiting for the right time.  Please give The Melinda Duncan Team a call at 859-422-2035 if you have any questions.

Beautiful historic home!

by The Melinda Duncan Team

Great historic home! (edit/delete)

I have got a beautiful historic home in the much desired area of Lexington.  Walk to work at the hospitals, University of Kentucky, and a short drive to downtown.  Please check out our listing at 1623 Nicholasville Rd.

Welcome to this beautiful historic home. You are welcomed into the home by a southern style covered front porch, perfect for sipping lemonade and watching the kids play on the huge front lawn. Offering all the charm and character of days gone by with the amenities of today you will love all it has to offer. This over sized shaded lot has a fully fenced private backyard with a two level slate patio. The home offers large rooms with gleaming hardwoods and updated baths. It also has a walk up attic with heating and air making it easily finished for extra square footage. The family will enjoy the partially finished basement with a warm and cozy fireplace. The kitchen offers todays conveniences with touches of the past in its built in butlers pantry and rounded doorway. Walk to work at Central Baptist or UK.

For more information give us a call at 85-422-2035 and we will be happy to give you a private tour.

Is Lexington a good buy?

by The Melinda Duncan Team

Recently an article by John Wasik of the Bloomberg report listed Lexington, KY as one of the top markets with low risk.  It also lists Lexington as a true housing bargain.  As a buyer this shows that it is still worthwhile to purchase a home.  Throughout history real estate is one of the best ways of building wealth.  Studies show the value of the typical home in our area doubles every 10 years.

Although we are not seeing the appreciation as we did over the last five years, Lexington stills offers a great investment opportunity.

Let us show you how a home purchase is one the purchases you can make.  It will likely be one of the best investment choices you make.

Displaying blog entries 1-10 of 19

Contact Information

Photo of The Melinda Duncan Team Real Estate
The Melinda Duncan Team
RE/MAX Creative Realty
185 Pasadena Drive Suite 240
Lexington KY 40503
859-396-9034
859-422-2000
Fax: 859-293-7180