Magic Eraser -- a little cleaning goes a long way!

Showed a house this past weekend that had serious need for a "magic eraser." The house was only two years old but really dirty -- the sellers had neglected to clean off door frames, woodwork, and doors from grubby little fingers and it gave the whole house a feel like it just hadn't been well maintained. So sellers take note: a little cleaning goes a long way in getting a house ready to put on the market. A lot of buyers can even overlook dated if they get a general sense that the house has been well-maintained.

I have to give credit for my Magic Eraser knowledge to Kerri Buchanan. She taught me about Magic Eraser when we did a walk-through a new construction home she was purchasing and she got out lots of dark marks and surface wall blemishes out herself!

More local flavors

When I’ve moved somewhere, my favorite finds in a new city are always those little restaurants and shops that are locally owned and exclusive to that city. Lexington has a lot of great spots that are really special. Zuni, Part of Le Matin bakery, I’ve mentioned before and is probably my favorite lunch spots. And, if you’re looking for a great “Ladies who Lunch” stop you can’t beat The Greentree Tea Room. The Greentree requires a reservation and you’ll find it downtown on Short Street just before Victorian Square. The Greentree is absolutely delicious (the menu changes at the beginning of each month) and the atmosphere is simply charming.

Two more recommendations for Lexington visitors:

Joe Bologna’s has my vote for the all-time best pizza. It, too, is downtown on Maxwell (just north of the University of Kentucky) located in a converted synagogue. If you’ve never been there before be sure to order a breadstick.

And of course, you have to have some Barbecue. My hands-down fav? Billy’s BBQ. Located on the corner of Tates Creek (a.k.a. High Street) and Cochran. To the embarrassment of those who dine there with me, I love it so much I can practically drink the sauce! Love it! Check back later for more local flavor finds!

Moving damage

Just learned a great tip from a friend who recently moved back to Lexington from Kansas City. The movers had done an unbelievable amount of damage to her gorgeous furniture by not properly packing her furniture with pads. Fortunately, the movers on this end of her trip called her attention to the matter as they unloaded and she has digital pictures of the inadequate job that was done packing her valuables. She has great ammunition with those pictures now in her damage claim.

Brrr....

I thought global warming had done away with winter in Central Kentucky but not so! While we don't have the snows I remember from my childhood (way back when it was uphill in both directions to school) Lexington has certainly had its spell of cold weather lately. I had an inspection this morning and we had a very difficult time getting into the house because the MLS lockbox was frozen shut! That certainly doesn't happen every day.

Seems like we're up to our third snow day this year for 2007! One thing you'll want to be prepared for if you move to Fayette County and have kids in public schools, there are no built-in snow days! Plan on having some extra days tagged on at the end of May-beginning of June for each day the kids miss in class.

The latest info...

From the Lexington-Bluegrass Association of Realtors (LBAR) here is the latest statistical news on last year's real estate market:

Residential sales in LBAR’s market area where down 3% compared to 2005 which makes it the third best year in real estate sales. Of the 10,693 sales reported for the year 2006, 5,376 of those took place in Fayette County. As of the end of the year, there were 6,026 residential and townhouse/condo properties on the market for sale: 5,257 single family and 772 townhouse/condos.

Downtown Income Opportunity

Investors take note! Have you seen how much is happening in downtown Lexington these days with brand-new condos and lovely renovations? If you're looking for income potential, this great building is a perfect opportunity. The sellers have made MANY improvements and the building is an easy rent since it's less than a block from Transy and includes off-street parking for the tenants.

This week's mortgate news...

If you are keeping an eye on the housing market and interest rates, here's this week's word on the street (kindly taken from Mortgage Matters courtesy of Bluegrass Mortgage.) If you'd like to get this free weekly update, just email me at GwenMathews@remax.net and I can forward it on to you!

"Recent reports suggest that housing sales may be rebounding. New home sales rose in three of four months through November, and housing starts increased by 4.5% to a seasonally adjusted 1.642 million annual rate in December. Meanwhile, the National Association of Home Builders/Wells Fargo index of homebuilder sentiment rose to 35 this month from a revised 33 in December, the highest it has been since July.
Unfortunately, the housing market isn’t likely to receive much help from the Federal Reserve over the near future. While underlying inflation pressures have softened from mid-2006, the moderation likely isn't pronounced enough to convince Fed officials that price pressures are no longer a threat, suggesting that steady interest rates are the most likely path, at least through the first half of 2007.
Steady rates are also likely to apply to the mortgage markets. This week’s economic data releases are unlikely to move credit rates. Energy prices, having dropped precipitously over the past three weeks, are also unlikely to fall much further this week. Given current expectations, odds favor mortgage rates holding steady; possibly swinging a basis point or two in either direction."