nky: Northern Kentucky MLS - NKY home search - 12/26/12 02:11 AM
Searching for a new home in or around Northern Kentucky?  Please take a minute to check out the updates to the MLS searches for my website.  The newly designed format allows for simple navigation between broad and advanced searches.  
Mobile Friendly No Registration Required Optional Facebook login to easily access favorites Search all homes in a specific zip code or city Dial-in your results easily (lot size, HVAC type, basement features, window type, etc.)   To explore all of these features, please click the link below:       Northern Kentucky MLS Search               … (0 comments)

nky: Bad news for new home construction today - 03/16/11 06:07 AM

Over the last 50 years, only one other single month fared as badly as February did for new home starts.  The seasonally adjusted number of 479,000 was a 22.5% fall from last month.  The total was only higher than April of '09.
Again, these numbers represent the backlog of distressed properties on the market and the unwillingness of new buyers to enter the market for fear of further pricing declines.
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nky: Proactive Short Sale Processors/Negotiators - 03/15/11 03:23 AM


In a part of our industry that is notorious for poor communication, mismanaged files and the like, I've found that lately the short sale processors and negotiators are becoming much more proactive in their approach to the file/deal.  Just in the last couple weeks, I've been contacted by Citi, B of A (I know, amazing right?) and a small lender out West called Vericrest.  All of the reps from these institutions called me very early on in the process to let me know they were assigned to the file and to give me updates on required docs or the … (1 comments)

nky: Real Estate Tax Tip: Did you buy a home in 2010? - 03/08/11 04:27 AM
Real Estate Tax Tip: Did you buy a home in 2010?Any origination fees or or discount points paid to your lender at closing are tax deductible - even if the seller paid your closing costs!! Not sure what your fees were? Pull out your HUD1 statement and they will be itemized on there for you. Not sure what to look for? Call me and I'll help you out.Thinking real estate? Think Nick Dailey!
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nky: That's called having the cake and eating it too... - 03/07/11 01:58 AM
 

Woke up yesterday morning to a email with an offer on one of my short sale listings.  Good way to start a Sunday.  Price was very workable, the buyer was pre-approved with 20% down, closing and inspection terms were short sale friendly...looking good so far.  Then I get to the "additional terms/conditions" section where you can write in additional items to include.  The agent wrote: "Buyer reserves the right to cancel or rescind this offer at any time and for any reason prior to short sale acceptance"....HUH?!?!?  You really think my seller will go for that?  Would you?  
The offer … (1 comments)

nky: 1194 Wildflower Alexandria KY 41001 - Parkside - Short Sale Listing - 03/06/11 03:38 AM

4 year new custom Martin Home. Quality abounds, established neighborhood. Features include: stainless steel appliances and upgraded cabinets, HUGE double shower in master, second floor laundry, office with french doors, walkout lower level, brushed nickel and oil rubbed bronze hardware/fixtures, beautiful hardwood floors, .4 acre lot, nice curb appeal. AS IS
 
MORE LISTING DETAILS HERE
 
 
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nky: More HAFA Nonsense on a Northern Kentucky Short Sale - 03/04/11 02:45 AM


If I had any hair...I'd be pulling it out right now!!  Let's start with the stipulations that come with an approval into the Home Affordable Foreclosure Alternatives program (anybody else with me in that even the name is dumb?).  There are plenty of "Gotcha's", as I like to call them, but I'll just focus on what I consider the most egregious and the most damaging to our success in helping homeowners who really need it.  I'll get into the specific reason for this post shortly, but here are the general stipulations that I have the most trouble with.
 
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nky: Why good contractors matter for your rehabs - Especially when things go wrong - 02/14/11 02:40 AM

 
So, I bought a duplex two weeks ago today.  It was an REO and had been vacant for the better part of 18 months.  Needless to say, it needed some love, but nothing was too serious.  I've seen a lot worse.  By the time OCWEN finally got around to letting me close, I had the repair list ready and contractors on call.  Repairs included: painting entire interior; new carpet; new vinyl in 1 of the bathrooms; replace a few fixtures; new locks; new kitchen counter and sink; minor roof repair to replace some flashing. 
 
My painter was there … (1 comments)

nky: I was accepted into CitiMortgage's ProActive Short Sale program!!! - 02/10/11 02:59 AM

 
RE/MAX corporate and CitiMortage have teamed-up to help expedite the short sale process and provide local homeowners with a "graceful exit" from their mortgage problems.  Here's an excerpt from the email:
"Dear Nicholas,
Congratulations! Because of your Short Sale training and expertise, you have been selected to participate in the CitiMortgage ProActive Short Sale program. The program is designed to assist families facing foreclosure with a viable alternative, and a more "graceful exit" through a Short Sale. In support of this program, the names of three local RE/MAX agents, who have a demonstrated expertise in Short Sales, will be provided to … (7 comments)

nky: Buying a Foreclosure in Northern Kentucky - 01/26/11 04:20 AM
Are foreclosures a good investment? A foreclosure property is a home that has been repossessed by the lender because the owners failed to pay the mortgage. Thousands of homes end up in foreclosure every year. Economic conditions affect the number of foreclosures, too. Many people lose their homes due to job loss, credit problems or unexpected expenses.
It is wise to be cautious when considering a foreclosure. Many experts, in fact, advise inexperienced buyers to hire an expert to take them through the process. It is important to have the house thoroughly inspected and to be sure that any liens, undisclosed … (1 comments)

nky: Foreclosure outlook bleak - 2011 to outpace 2010 - So what are you going to do about it? - 01/13/11 02:15 AM

 
After a record year of 1 million homes foreclosed on in 2010, the outlook for this year is proving that 1 million  may be dwarfed in comparison.  There are nearly 5 million mortgage holders that are at least 2 months behind on their payments.  The good news behind these numbers, according to RealtyTrac, is that this year is finally expected to be the peak of the crisis.
1 in 45 households received a foreclosure filing last year.  That's a record 2.9MM homes.  And while the last two  months of 2010 slowed down a bit due to the whole "robo-signing" fiasco, the … (4 comments)

nky: Building Good Credit - 12/28/10 01:47 AM
Building and Maintaining a Great Credit Profile Your credit report represents how well you manage your financial responsibilities. The good news is that your negative information drops off over time but the positive information remains. Building a strong and consistent history of responsibly using credit is the foundation to building a great credit profile. Although it’s relatively easy to gain access to new credit such as credit cards, there are many best practices to use and common traps to avoid. Here are a few easy tips for effectively building your credit history.
Applying for new credit Don’t apply every time you see … (3 comments)

nky: Real Estate Tax Info - 12/21/10 12:44 AM
 
Can property taxes be deducted? Property taxes on all real estate, including those levied by state and local governments and school districts, are fully deductible against current income taxes.
Mortgage interest and property taxes are deductible on a second home if you itemize. Check with your accountant or tax adviser for specifics.
How are property taxes configured? Property taxes are what most homeowners in the United States pay for the privilege of owning a piece of real estate, on average 1.5 percent of the property's current market value. These annual local assessments by county or local authorities help pay for … (2 comments)

nky: What home insurance is right for me? - 12/21/10 12:42 AM
What kind of insurance do I need? A standard homeowners policy protects against fire, lightning, wind, storms, hail, explosions, riots, aircraft wrecks, vehicle crashes, smoke, vandalism, theft, breaking glass, falling objects, weight of snow or sleet, collapsing buildings, freezing of plumbing fixtures, electrical damage and water damage from plumbing, heating or air conditioning systems, according to the Insurance Information Institute, a Washington, D.C.-based nonprofit group for the insurance industry.
Such policies are "all-risk" policies, which cover everything except earthquakes, floods, war and nuclear accidents.
A basic policy can be expanded to include additional coverage, such as for floods and earthquakes and … (1 comments)

nky: Condos & Home Owner's Associations (HOA) - 12/21/10 12:38 AM

Are condos a good investment? Condominiums have held their value as an investment despite economic downturns and problems with some associations. In fact, condos have appreciated more in the past few years than when they first came on the scene in the late 1970s and early 1980s, experts say.
While there are lots of reports about homeowners association disputes and construction-defect problems, the industry has worked hard to turn its image around. Elected volunteers who serve on association boards are better trained at handling complex budget and legal issues, for example, while many boards go to great lengths to avoid … (1 comments)

nky: How much is my home worth? - 12/21/10 12:36 AM

How do I find out how much my home is worth? A comparative market analysis and an appraisal are the standard methods for determining a home's value.
Your real estate agent will be able to provide a comparative market analysis, an informal estimate of value based on comparable sales in the neighborhood. Be sure you get listing prices of current homes on the market as well as those that have sold. You also can research this yourself by checking on recent sales in public records. Be sure that you are researching properties that are similar in size, construction and location. … (0 comments)