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.

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 with offers accepted by April 30, 2010, and those agreements must close by June 30, 2010 .

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 2010:

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.

Not a first-time Buyer? 

Buyers who have owned their homes for at least five years would be eligible for tax credits of up to $6,500.  To qualify, buyers in both groups have to sign a purchase agreement by April 30, 2010 and close by June 30, 2010.

Mortgage Credit Certificates are administered by the Kentucky housing Corporation, KHC.  With a MCC from KHC, you can get dollar -for -dollar reduction in your federal taxes worth 25 percent of the interest you pay on your mortgage each year, and you can still claim the remaining 75 percent of the interest as a tax deduction.

Only interested in New Construction?

The new state tax credit for new homes allows a $5,000 state tax credit for homebuyers who purchase a newly constructed home.  This non-refundable tax credit is available to purchasers who close on a new constructed home or a  never occupied home by July 24, 2010 and do not claim the $8,000 first-time home buyers tax credit.  

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 negoiations seem to be at a stalemate.
5)  First impressions really matter.  De-clutter your rooms.  If it is a bed-room, have a bed in it.  Clean everything and make it sparkle.  Pets are wonderful, but kitty liter boxes are a turn off.  Crate your pets for the showing. If I can smell it, I can't sell it!   Paint peeling from the front door is a turn off, the first thing a client sees is your front door, add a nice hanging ornament, fresh coat of paint, clean the storm door and remove finger prints.  Pick up all the toys in children's rooms, or box up unused toys and store them in the garage or attic. Clean out your closets, junky, cluttered closets make them look small.  Fluff up the landscaping with mulch, clean up front yard is a must.
6)  If it is broken, 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 "kill the deal"      
    
This is what we do every day, 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. 

We are also experienced in selling pre-foreclosured properties and short sales. Missed payments?  You don't have to give away your home, many lenders will accept a short sale in lieu of foreclosure.  Give us a call if you have missed payments on your home to see we can assist.  Many times we already have buyer clients who will purchase distressed homes or 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 on two multiple listing services, one in Fayette County, and one in Madison County.  We  list our seller's properties on  four (4) web sites in addition to Schennberg.com   

We run a daily ad in the Richmond Register, 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 KY 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