Please feel free to browse through our site to explore Kentucky real estate or Kentucky land for sale in  Richmond, Lexington, Nicholasville, Berea, Irvine,  Mt Vernon, Waco, and Winchester, KY.  We can also find your rural property in Madison County, Fayette County,  Estill County, Clark County, Garrard County, Rockcastle County, Woodford County Jessamine County, 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 an experienced real estate investor, 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.

First-time home buyers have the new $8,000 home buyer tax credit.

1)   The tax credit does not have to be repaid.

2)   The tax credit is equal to 10% of the home's purchase price up to a maximum of $8,000.

3)  The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.

4) Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit. 

If you are not a first-time home buyer, but have not owned a principal residence during the last three years, you may qualify. 

Here is a breakdown of high-loan-to-value lending programs currently available in Richmond and Lexington  Kentucky for 2009:

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 allowed to pay 3 to 6% in closing costs (may depend on lenders restrictions check w/lender to verify).

The tax credit is a refundable $8,000 credit.  If you are eligible and your total tax liability for the year was $6,000, the IRS would send the purchaser a check for $2000.  The refundable amount is the difference between $8,000 credit amount and the amount of tax liability.  It has to be owner occupied housing or principal residence.  Is there an income restriction?  Yes, no than $75,000 for singles and no more than $150,000 for couples.  Your income is determined by your adjusted gross income on your 1040 income tax return.  Your adjusted gross income is the final number that appears on the bottom line of the front page of your IRS Form 1040.

Gov Steve Beshear recently announced a special assistance from Kentucky Housing Corporation to offer up to $4,500 for down payment and closing costs for first-time home buyers who obtain a KHC home loan.  This special program continues through November 30, 2009.

So, what are you waiting on?  Come to Richmond, KY!  Real estate in our area has only depreciated 3% compared to the rest of the country.

If you are not a first time home buyer and currently own real estate in Kentucky and want to put your home on the on the market, would you please grant us consideration for listing your properties?  Call us to find out what your property is worth in today's market.  We are experienced in selling pre-foreclosured properties and short sales.  We are a full service brokerage selling land, single family residences, multi-family properties, farms, and commercial.

Our listings are on two multiple listing services, one in Fayette County, and one in Madison County.  We  list our seller's properties on  five (5) web sites in addition to Schennberg.com  for maximum exposure in the real estate market.
 
This affords our real estate clients a competitive internet presence for the 2009 real estate market.  Did you know that approximately eighty (80%) percent of all real estate purchases are pre-screened first via the internet? 

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 property 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 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 and Richard Schennberg, Associate Brokers

Schennberg Realty, LLC

859-624-5566

211 Geri Lane, Building 2, Suite A

Richmond, KY  40475