Governor Beshear announces help for first-time home buyers
Many states have set up special programs to help potential first-time home buyers overcome the obstacles in buying their first home. The Kentucky Association of REALTORS would like to inform its members of a special initiative in Kentucky, announced by Governor Steve Beshear yesterday.
On April 22, 2009 Governor Steve Beshear announced a special initiative by the 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. The program will begin on May 1, 2009 and continue through Nov. 30, 2009. To view the press release, click here or continue reading the information below.
The First Home Advantage Program provides a second mortgage with principal and interest payments deferred until July 1, 2010 for KHC-approved, first-time home buyers.
"For many first-time home buyers, the biggest barrier to home ownership is the ability to pay upfront expenses, such as the down payment and closing costs," said Gov. Beshear. "The innovative First Home Advantage Program will not only help qualified Kentucky home buyers overcome this barrier and realize their dream of owning a home, it will hopefully reinvigorate the housing market help get our economy moving in the right direction."
The First Home Advantage Program offers a 10-year loan that defers payment with a zero percent interest rate until July 1, 2010. After the initial deferment period, the loan will fully amortize over ten years at the rate of 6 percent. If the borrower pays off the loan before July 1, 2010, KHC will forgive $300 of the principal balance.
The American Recovery and Reinvestment Act of 2009, signed into law by President Barack Obama on February 17, 2009, provides first-time home buyers with an $8,000 tax credit. After purchasing their home, home buyers have the opportunity to file for the housing tax credit provided by the stimulus on their 2009 tax returns and use the tax credit for the repayment of the First Home Advantage Program loan to take full advantage of the prepayment incentive.
"We want to do everything we can to help Kentucky homeowners purchase their new homes," said Richard L. McQuady, chief executive officer of KHC. "The First Home Advantage Program allows home buyers to take advantage of every opportunity available to them in these difficult times."
In order for home buyers to qualify for this program, they must obtain a KHC first mortgage through a KHC-approved lender, be a first-time home buyer, meet KHC income and purchase price guidelines, and have a 620 minimum credit score.
To learn more about KHC's homeownership programs, visit their Web site www.kyhousing.org.
This photo is the property of Ron Spanton, Benton KY. All Rights Reserved. Any use of this photo, including reproduction, modification, distribution or republication, without the prior written consent of Ron Spanton, is strictly prohibited. Permission may be sent to me at ronspanton@remax.net. Photo is only of people, places, things or scenes in Western Kentucky.
THIS PROPERTY HAS LOTS OF POTENTIAL FOR THE BUYER OR INVESTOR.
The bedford stone main house is over 2700 s.f. with 3 bedrooms, 2 and 1/2 baths and 3 car garage.
Well maintained with lots of updates including a remodeled kitchen with maple cabinets and slide outs, stainless dishwasher and upgraded microwave/convection oven.
New ceramic tile completes the kitchen which is open to the large family room. The open concept is great for entertaining. The gas log fireplace is thermostatically controlled for those chilly nights.
Off the family room is a sun room with a hot tub.
The 44 acres are fenced and cross fenced and includes 2000 feet of white vinyl fence.
There are 2 ponds and 2 run-in sheds.
The stable has 5 stalls and can be enlarged to 9 stalls with a tack room.
Well water makes it eccomical and convient to water and wash the horses. (The homes are on water district).
The stable is connected to a 66' x 100' indoor riding arena.
This property also includes a 3 bedroom, 2 bath manufactured home that could be used for extended family or rental income.
Of the 44 acres, 5 acres are in woods on the back of the property where there is a cabin currently rented for $550/month.
There is road access from both ends of the property which layes rectangular.
THE 44 ACRES, 3 HOMES, STABLE AND INDOOR ARENA ARE READY FOR YOU AND ONLY $585,000!
This photo is the courtesy of Gary Whittington, Benton KY. All Rights Reserved. Any use of this photo, including reproduction, modification, distribution or republication, without the prior written consent of Gary Whittington, is strictly prohibited. Permission may be sent through me at ronspanton@remax.net. Photo is only of people, places, things or scenes in Western Kentucky.
This lot has a good view of Governor's Bay and already has a covered dock with a slip in place!
Building Lot on Kentucky Lake ready for your New Home! Approved for 3 bed, 2 bath home $199,900
This lot is located in Cambridge Shores Subdivision on Kentucky Lake. Subdivision amenities include 2 boat launching ramps, sandy beach, tennis court, community building and community events. HOA fee is only $35 per year! This lot has been surveyed and the health department has approved it for a 3 bedroom 2 bath home. One of the few lots left on Kentucky Lake and it includes your private covered dock!
There is a great view of Jonathon Creek off Kentucky Lake and talk about the sunsets!
3 Bedrooms, 2 and 1/2 Baths, 4 car attached Garage, 3100 s.f., Boat storage Outbuilding $239,900.00
This large home is all on one level and features a vaulted living room, split bedroom design, open floor plan, formal dining room with gas log fireplace and vaulted family room. The large kitchen features a pantry and for outside entertaining there is a brick patio. A 20 x 30 outbuilding is perfect for boat or RV storage.
Well, here in Western Kentucky, Benton is very proud of it's tradition of celebrating Tater Day.
To celebrate Tater Day; we have a Tater Day Parade, Tater Day Flea Market, Tater Day Carnival and even a Tater Day Queen and a Junior Miss Tater!
Stop laughing!.....Come on! Your community probably has it's local celebrations as well and we'll find out about yours soon enough!
Our tradition started around 1843 when people in the community would get together to sell or trade sweet potatoes and sweet potato slips and continues to this day on the first Monday in April each year and ushers in Spring. The activities are so important to the community that our spring break for students coincides with Tater Day. No one would go to school anyway!
Now we all know there are celebrations around the United States and around the world for many different things including milk, cheese, beef, ice, pork and even nostalgia. Remember the squash festival featured in the Doc Hollywood movie? So here's the challenge, lets hear about yours!
Take note however, reportedly this is the only celebration in the United States that celebrates the sweet potato! If anyone out there can dispute this I need to hear about it.
This is how RE/MAX Real Estate Associates in Benton, Kentucky entered the Tater Day parade.
I recieved a notice from ERBY CROFUTT - B4U CLOSE HOME INSPECTIONS that he would be attending a conference here in Western Kentucky on January 10, 2009 and wanted to know if we wanted to meet in person. You see, I'm a newby here at ActiveRain and my first postings were only listings. Erby was the first one to post a comment to me. He said:
"C'mon Ron. You gotta post something besides listings. Hard for me to retun comments when all you got are listings.
Tell us a good story about Benton!"
Well that was the kick in the butt I needed to try to post something about our local area, Benton, Gilbertsville and the Kentucky Lake area of Western Kentucky. I'm reading with great interest others blogs and comments to come up with ideas and in the meantime I've learned so much more about real estate and even life in general. Who would have thunk? So I think I'm beginning to understand now what it's like to be in the "Rain". This is truly a wonderful community.
Ok, so back to Erby. Erby and I met over supper at Catfish Kitchen and I was blown away by his sincerity and knowledge of the inspection process and it's relationship with the real estate industry. I could tell he takes his business very seriously and therefore conducts a very thorough investigation of the property he has been hired to inspect. But you see, the inspector is also an instructor and teacher and although most of us already know that, I could tell Erby is really good at it. He encourages the buyers to be present through the entire inspection process so nothing is missed - or misunderstood.
If you are purchasing a home in Central Kentucky and the Lexington area please consider talking with Erby.
And if you are a real estate agent or broker in his area I think you will be very pleased with his knowlege and integrity.
This photo is the courtesy of Gary Whittington, Benton KY. All Rights Reserved. Any use of this photo, including reproduction, modification, distribution or republication, without the prior written consent of Gary Whittington, is strictly prohibited. Permission may be sent through me at ronspanton@remax.net. Photo is only of people, places, things or scenes in Western Kentucky.
Where we live in Western Kentucky near Kentucky Lake, we only average about 10 inches of snow per year! We enjoy 4 seasons (it would get boring having the same weather all the time, wouldn't it?) but the winters are mild. In the past I have lived in Northern Illinois, Northern Wisconsin and Minnesota so I really appreciate the weather here. Usually when we get some snow it only lasts a day or two. It's enough for the children to get out of school and get cold and wet playing outside.
When I tell local people about the winter activities up north such as ice fishing, skiing and especially driving vehicles on the lakes they can hardly believe me. Yes, those are fond memories that I'm glad I participated in, but I'm also glad I was much younger. I really don't think I would like it at my advanced years. Shoot, I might fall and break a hip!
For more weather information you could check out msn.com or city-data.com. City-Data also has census information which includes employment, income, and household statistics as well as average temperatures and precipitation for each month.
However, wherever you move don't rely on statistics alone. Make sure you contact a local REALTOR® who is familiar with the local climate; whether it's the weather climate or whether it's the real estate market climate, they are very well qualified to answer your questions.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
The bedford stone main house is over 2700 s.f. with 3 bedrooms, 2 and 1/2 baths and 3 car garage.
The 44 acres are fenced and cross fenced and includes 2000 feet of white vinyl fence.
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