We are your Kentucky real estate Agents, Brokers for Kentucky land, or Kentucky homes for sale in Richmond, Lexington, Nicholasville, Berea, Irvine, Mt Vernon, Waco, and Winchester Kentucky.

Searching for rural Kentucky properties, and other adjacent counties

Our comprehensive on line tools offer direct access to KY real estate for sale in your area. Our web site features extensive community information, consumer links, local school information, free reports with answers to commonly asked real estate questions within one easy solution.

Our web site is designed to assist you if you are a first-time home buyer, currently relocating to Kentucky or experienced real estate investors, you will find useful information about how to choose the right property, making an offer, negotiating, financing, mortgage rates, moving,just about everything involved in making an informed real estate decision in today\\\'s market.

Here is a breakdown of high-loan-to-value lending programs currently available in Kentucky for 2011:

100% VA (Includes manufactured homes with no minimum credit score required)
100% Rural Housing - USDA (outside Fayette County)
100% Federal Housing in combination with DAP Proceeds
100% 80-20 Loans for borrowers with a score of 700 or higher (some restrictions)
97% Federal Housing Administration Financing
95% Conventional Financing



In addition to the above listed programs, sellers of properties are sometimes allowed to pay 3 to 6% in closing costs (may depend on lenders restrictions check w/lender to verify). FHA loans may allow sellers to pay up to 3% closing costs.

FIRST TIME HOME BUYERS- BUYING FORECLOSED PROPERTIES
203(k) Rehab Loan

FHA also has a foreclosure program for first-time home buyers who are buying a short sale or foreclosed property that needs repairs. Called FHA/HUD backed 203(k) rehab loan. This loan covers the cost of the plus money for repairs up to a maximum of $35,000. You will need 3.5% required downpayment. Your real estate agent will have to prepare your offer stating you are seeking 203 (k) financing. At closing the sellers receive the purchase price, then the remaining funds go into escrow to be disbursed as the work is completed up to six months. Check with your local lenders for more specific information with regard to the FHA loans that are currently available in your area.


KY Housing Corporation - Breaking News 6/23/11


KY Housing Corporation has a new Lottery for New Construction Program for Single Parent, Disabled, or Elderly Households

Funds for the New Construction Program for Single Parents, Disabled, and Elderly households will soon be available. The funding source will be New Bond Funds, which means borrowers must meet all New Bond guidelines, with the exception of purchase price and income limits.

* First mortgage loan (FHA, VA, and RHS only no conventional) with a 30 yr fixed interest rate of 1 to 6 percent. The rate will be the highest for which the applicant qualifies at a ratio of 29/41

* New Construction only.

* Maximum purchase price of $115,000

* Regular rate program with points required.

* Borrowers must have a minimum credit score of 640 and a AUS approval

* Regular down payment assistance program is available for down payment and closing costs.

The reservations will be selected through a lottery system. The lottery will be open for reservations Monday July 25, 2011 through July 27, 2011. Winners will be notified by e-mail on Friday July 29th. All applicants must have a fully executed real estate contract in place when the loan is reserved. First-time home buyers hurry this is a fantastic program.

SELLERS READY TO SELL

If you are not a first time home buyer and currently and want to sell your real estate in Kentucky , here are some G-R-E-A-T marketing strategies :

1) Always price your home to Sell! We can assist you with a free current market analysis!
Pricing your home is the most important decision you make in the first 30 days.
2) Offer to pay for up to 3% of the closing costs, often buyers fail to make written offers due to inability to pay closing costs.
3) Offer a home warranty with the purchase of your home. Many buyers live in apartments where everything is fixed by the landlord. Home warranties offer strong assurances for the nervous buyer.
4) Obtain an appraisal. A written appraisal is hard to argue with when negotiations seem to be at a stalemate. Remember pricing your home right in the first 30 days is critical.
5) First impressions really matter. De-clutter your rooms. If it is a " bed-room", you have to have a bed in it for Buyers to visualize it as a bedroom. Don\\\'t turn it into a junk room or storage area for all your clothes, toys, etc. You also have to have a closet, and if in a lower level, a window, and a door for ingress and egress. Otherwise, it is only a bonus room or illegal bedroom. Clean everything and make it sparkle. Pets are our best friends, but kitty liter boxes are a turn off and musky old dog smell can kill your sale. Always remove or crate your pets for all showings. If I can smell it, I can\\\'t sell it! Paint peeling from the front door is a turn off, the very first thing a client sees is your front door, add a nice hanging ornament, fresh coat of paint, clean the storm doors and remove finger prints. Pick up all the toys in children\\\'s rooms, or box up unused toys and store them in the garage, attic, or rent a storage pod. Clean out your closets, junky, cluttered closets make them look small. Fluff up the landscaping with mulch or lava rock, clean up the front yard it is a must. Curb appeal is everything!
6) If it is broken, Sellers P-L-E-A-S-E fix it. The buyer's home inspector is just going to add it to the list he/she presents to the home buyer and this can really "kill the deal" ,
7) Termites.... BIG, BIG, issue can "kill the deal", if you have had termites in the past, have your previous servicer to do a check up to determine if you have any fresh activity. Failure to keep your house termite free can be a total deal killer. If you have a clean bill of health on termites attach the recent termite report to your sellers disclosure. Be honest with regard to this, if it is repairable, have it repaired immediately with documentation from all contractors.
8) Be totally honest about your Seller\\\'s Disclosure, if you hide anything from your Broker or Buyer, and it is discovered in the home inspection, you will appear to be dishonest. If it is a big ticket item, you may end up in a lawsuit. It is best to disclose anything you know that is wrong with the home, and then the Buyer will know where he/she stands with regard to the purchase. If you had a roof leak in 2009, and you repaired it, show them the repair bills, be totally transparent about all issues. This will give the Buyers more confidence in making an offer. Complete honesty is the very best policy when selling your home.

We sell all types of real estate everyday, we really know what sells real estate.We have been in the real estate business for over ten years. Real estate is one arena where experience really matters. We are full-time Realtors, not bus drivers who work on the weekends. Call us to find out what your property is worth in today\\\'s market. You really need to know the real estate sales for the past six months within a one mile radius of your home. Failure to know this can cost you B-I-G TIME. Why isn\\\'t my home selling Because you have the home above what today\\\'s real estate market will withstand. 2010 sales do not compare with 2008, and 2009 when houses were at their highest.

We are NAR certified for selling pre-foreclosured properties, commonly call "short sales". Missed payments You don\\\'t have to give away your home, or commerical properties many lenders may accept a short sale in lieu of foreclosure. Give us a call if you have missed payments on your home, or commerical properties to see we can assist. Many times we already have buyer clients who are looking to purchase distressed homes or commerical properties.

Schennberg Realty, LLLC is a full service brokerage selling land, single family residences, multi-family properties, farms, and commercial properties. Our Kentucky real estate listings are now on two multiple listing services in Fayette County, Madison County, Clark County, and Estill County. We list our seller\\\'s properties on five (5) web sites in addition to Schennberg.com

We can run a daily ads in the local newspapers, not a once a week ad, in addition to the local homes book ads. This affords our clients a strong real estate presence on a daily basis.este market.

Technology is changing the way we do business in every aspect. We are seeking to be pro-active in marketing our client\\\'s inventory in the most progressive manner available to real estate agents in Kentucky. We are providing you with tools through this site to assist you with information to prepare your Kentucky real estate for sale, selecting the right agent, pricing your home appropriately, marketing it effectively, going through the inspection processes, and receiving a timely market evaluation.

Please contact us if you would like to have a free market analysis of the value of your real estate or a free magnetic calendar. Thank you for visiting our on line real estate source. We hope you find it helpful in evaluating your real estate needs.

Please bookmark this site for future reference, and enjoy!

Questions Please contact us! Give us your feedback... We want to hear from you!

Kae Schennberg, Principal Broker

Richard Schennberg, Associate Broker

Schennberg Realty, LLC

859-624-5566

211 Geri Lane, Building 2, Suite A

Richmond, KY 40475