Amanda Stepp Marcum's Real Estate and Community Blog 

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March 29, 2017

Open House! THIS Sunday, April 2nd from 2PM-4PM!

Open House! THIS Sunday, April 2nd from 2PM-4PM!

206 Autumn Court, Berea, KY 40403

4 Bedrooms / 3.5 Bathrooms / 2 Car Garage / 3090sqft / .44 of an Acre / $249,900.00

Are you ready to be impressed? This home isn't a drive by... over 3000 sqft of immaculately maintained, custom built luxury. ample hardwood floors throughout the main level, kitchen features solid surface counter tops, pantry, slide outs in cabinets, kitchen bar, lots of light. Currently the sellers have switched the living and dining rooms. Spacious laundry room w/cabinetry. Main level features 3 bedrooms & 2.5 bathrooms. Upstairs: office, bonus space, bedroom over garage has window but closet is outside of the room, reading nook room, full bathroom, 4th true bedroom w/walk in closet. Walk in attic storage is floored. 2 heat pump systems- 1 for each level. Located on a cul-du-sac street, ample crown molding, 2 covered porches, brick mailbox. This home is located in the flood plain but the owners have had an elevation survey & their insurance policy is transferrable.

Directions:  Sugarville Meadows is located off HWY 1016, turn onto Northway Drive, left onto Autumn Court.  

 

 

 

 

Amanda Marcum 859-353-2853 / Call or Text

 

Posted in Real Estate Berea
March 22, 2017

How to Get the Most Money When Selling Your Home

How to Get the Most Money When Selling Your Home

Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible.

1. Price it a LITTLE LOW 

This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In reality, this just dramatically lessens the demand for their house (see chart below).

How to How to Get the Most Money When Selling Your Home | Simplifying The Market

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price, but will instead have multiple buyers fighting with each other over the house.

Realtor.com gives this advice:

“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

2. Use a Real Estate Professional

This, too, may seem counterintuitive, as the seller likely believes that he or she will net more money if they don’t have to pay a real estate commission. With that being said, studies have shown that homes typically sell for more money when handled by a real estate professional.

Research posted by the National Association of Realtors revealed that:

“The median selling price for all FSBO homes was $185,000 last year. When the buyer knew the seller in FSBO sales, the number sinks to the median selling price of $163,800. However, homes that were sold with the assistance of an agent had a median selling price of $245,000 – nearly $60,000 more for the typical home sale.”

Bottom Line

Price your house at or slightly below the current market value and hire a professional. This will guarantee that you maximize the price you get for your house.

 

Amanda Marcum / 859-353-2853

Posted in Real Estate Advice
March 20, 2017

307 Lancaster Ave, Downtown Richmond, KY 40475 Open House Sunday, March 26th, 2017

You're Invited!

Sunday, March 26th, 2017

1:00PM-3:00PM

Amanda Marcum Broker Associate/REALTOR®
Berkshire Hathaway HomeServices Chairman’s Circle Diamond 2016 / Top .5% of the Brand 
2015 & 2016 #1 Agent in the State of KY Among BHHS for Residential Homes SOLD! 
ASP®, PSA, CNE, SRS, ABR, GRI, e-PRO®, SRES, GREEN, eCertified®
Luxury Collection? Specialist
Certified Relocation Specialist

859-353-2853 Call/Text
Website: 
www.KYhomes.co
Book an Appointment with Amanda: 
CLICK HERE!
March 13, 2017

100 Eastern Hills Drive, Richmond, KY 40475

100 Eastern Hills Drive, Richmond, KY 40475

4 Bedrooms / 2 Bathrooms / 1 Car Garage / 2188sqft / 0.25 of an Acre / $139,900.00

Never before on the market, one owner, spacious home on an ideal corner lot! Handy to I-75 and seconds to E.K.U, this home is move in ready. Garage measures 25'2'' in depth PLUS a 140sqft work shop space. Main level features a spacious living room w/carpet (14'4'' x 15'6''), kitchen with updated cabinetry & all kitchen appliances + awesome kitchen bar that is open to the dining room (11' x 11'3''), 3 very big bedrooms (11'3'' x 14'5'' and 10'5'' x 15'7'' and 12'2'' x 12'), main level bathroom features a raise height updated vanity w/TWO sinks. Lower level boasts an awesome family room (14'3'' x 25'5'') with a wood burning fireplace, 4th bedroom, 2nd full bathroom. Outside this home has a covered back deck and fenced back yard with very mature/lovely trees!

Directions:  From Lexington take I-75 S to exit 87.  Turn left off the exit onto Eastern Bypass.  Then make a left turn onto N. Killarney Lane.  At the stop sign make a right onto Barnes Mill Road, then take the first left onto Eastern Hills Drive. The home is on the corner of Barnes Mill and Eastern Hills Drive. 

 

 

 

 

Amanda Marcum 859-353-2853 / Call or Text

March 6, 2017

307 Lancaster Avenue, Richmond, KY 40475

307 Lancaster Avenue, Richmond, KY 40475

3 Bedrooms / 2 Bathrooms / 1 Car Detached Garage / 1905sqft /   0.14 of an Acre / $189,900.00

Downtown Richmond Charmer located 1 block from E.K.U. Main Campus & Main Street/Downtown. The prestigious Lancaster Avenue area is the ideal location for anyone who wants to save on travel time & gas. This home features gorgeous (believed to be original) hardwood floors throughout the main level, marble faced fireplace in living room, formal dining room, charming breakfast nook w/built in seating & kitchen table that conveys, updated happy kitchen, spacious family room/den. Main level also boasts a generous sized bedroom w/2 closets & a full bathroom. Upstairs you will find 2 additional bedrooms & a full bathroom. Basement is ideal for ample storage! There are cabinets for a workshop space and spacious laundry area. Privacy fenced back yard, lovely concrete patio area, covered front porch, 1 car detached garage that measures 21'9'' by 14'. The shared driveway has a recorded permeant easement granting access for each property (307 and the neighbor to the right if facing the home).

Directions: From Lexington take I-75S to exit 90A. Merge onto US-25S toward Richmond. In 0.4 miles turn right onto US-25 Bus S.  After 1.9 miles turn right onto Lancaster Ave.  The home will be on your left. 

 

 

 

 

Amanda Marcum /  Call or Text

Feb. 17, 2017

Tax Consideration for Buyers and Sellers

Tax Consideration for Buyers and Sellers

 

Buyers and sellers need to be informed about tax considerations before entering a transaction.

If you have purchased or sold a home last year, there are a number of tax deductions for which you may qualify. Here are some important factors to keep in mind:

Profitability: According to the IRS, if you have a gain from the sale of your main home, you may be able to exclude up to $250,000 of the gain from your income as a single tax filer, or $500,000 on a joint return in most cases.

Interest: Currently, much of the interest paid on a mortgage is tax-deductible. A married couple filing jointly can deduct all of their interest on a maximum of $1 million in mortgage debt secured by a first or second home.

Selling costs: Broker commissions, title insurance, legal fees, advertising costs, administrative costs, and inspection fees are all considered selling costs and currently may be used to reduce one’s taxable capital gain by the amount of the selling costs.

Refinanced mortgage points: They may be deductible, but not all at once. Homeowners who refinance may be able to immediately write off the balance of the old points and begin to amortize the new points. Interest paid on a home equity loan or similar line of credit may also be deducted.

Points/origination fees: On a home loan, if points or origination fees are paid during the purchase of a home, they are currently generally tax-deductible for the year in which they were paid.

Repairs/remodels: Qualifying capital improvements may be able to be deducted, including costs of a new roof, fence, swimming pool, garage, porch, built-in appliances, insulation, heating or cooling systems and landscaping.

Relocation expenses: If you move because of a new job, you may be able to deduct some of your moving costs. To qualify for these deductions, you must meet several IRS requirements, including that your new job is at least 50 miles farther from your old home than your previous job. Moving-cost deductions can include travel or transportation costs, lodging expenses, and fees for storing your household goods.

Property taxes: Currently deductible from your income. If you have an impound or escrow account, you can’t deduct the money held for property taxes until the money is actually used to pay your property taxes. City or state property tax refund reduces your federal deduction by an equal amount.

First-time buyer credit: For those buyers who took advantage of this credit within the past two years, remember that if within 36 months of the date of purchase, the property is no longer used as your principal residence, you are required to repay the credit.

Another important tip for those moving into a new home is to make sure you update your address with the IRS and the U.S. Postal Service to ensure you receive refunds or correspondence from the IRS.

Tax laws change every year, and certain tax deductions become available while others phase out. Speak with a professional tax consultant about these and other considerations.

 

Amanda Marcum 859-353-2853 / Call or Text

 

Posted in Real Estate Advice
Feb. 17, 2017

320 Bowerwood Drive, Richmond, KY 40475

320 Bowerwood Drive, Richmond, KY 40475

3 Bedrooms / 2.5 Bathrooms / 2 Car Garage / 2108 sqft / 0.22 of an Acre / $212,000.00

1 Owner, Fully Upgraded, Immaculate Home! Main Level: Hardwood throughout formal foyer, formal dining room (9'6'' x 13'5'') & great room w/wood burning FP (could be converted to gas easily, already plumbed). Open to kitchen & breakfast room w/ceramic tile floors, pantry, island, glass tiled back splash, stainless appliances. Extended garage 22'6'' deep. Upstairs boasts 3 guest BRs, spacious laundry room (9'9'' x 7'11'' & tile), 2nd bath w/built shelves & extended vanity. Master ensuite (14'4'' x 13'5''), walk in closet, oversized vanity, jetted tub & tile surround. Walk in floored attic storage. Finished walk out bsmt w/fully finished room, plumbing for 1/2 bath, flooring finished throughout but drywall is needed. Only 1 room is included in finished sqft. Backyard: 2 decks, patio, privacy fenced/flat lot, hot tub & above ground pool (Seller will replace liner). Upgraded/updated light fixtures throughout, crown molding, closet organizers, 1 Year Home Warranty! Shingles replaced 12/2016

Directions: From Lexington take I-75 south to exit 87.  Turn left onto Eastern Bypass, continue on for 1.8 miles.  Make a left on Boggs Lane, then a left onto Richwood Blvd. At the traffic circle take the 1st exit onto Bowerwood Drive.

 

 

 

 

Amanda Marcum 859-353-2853 / Call or Text

Feb. 6, 2017

January 2017 Sold Statistics for Madison County Kentucky

Madison County (Richmond, Berea, Waco)

Residential Closed/Sold for January 2017

135 gleneagles blvd, richmond, ky 40475, boones trace

January 2017: 56 Units (18 Berea, 0 Waco, 38 Richmond, 11 New Construction)

January 2016: 68 Units (17 Berea, 2 Waco, 49 Richmond, 8 New Construction)

Average Sales Price: $158,000 ($186,000 for 2016)

Average List/Sales Price Ratio: 96.5% (96% for 2016)

Average Days on the Market: 61 (83 for 2016)

Highest Price: $577,000 ($1,150,000 for 2016)

Lowest Price: $18,000 ($14,500 for 2016)

Total Volume: $8,800,000 ($12,800,000 for 2016)

Feb. 1, 2017

Open House! 102 Welchwood Drive, Berea, KY 40403

Open House THIS Sunday, February 5th, 2017 from 1:00PM-3:00PM

102 Welchwood Drive, Berea, KY 40403

4 Bedrooms / 2.5 Bathrooms / 2 Car Garage / 2321sqft / 1.004 of an Acre / $229,000.00

Home Sweet Home! Custom Kentucky reclaimed barnwood floors throughout main level, formal dining w/wainscoting, breakfast room & kitchen w/new tile floors, new counter tops, high end stainless appliances (French door fridge w/ice & water in door and GAS RANGE w/double ovens!), breakfast bar. Awesome screened in porch w/vaulted ceilings (256sqft), extended uncovered grilling deck (163 sqft). Upstairs features 3 BRs (1 guest BR w/vaulted ceilings), master ensuite w/jetted tub, sep. walk in shower, double sinks, walk in closet AND expandable walk in attic floored storage. Lower level- family room, 4th BR, workshop/unfinished storage area. Patio outside lower level w/inthe 4 board plank fenced yard, 1 acre total lot, storage building, play set conveys. Shingles on roof replaced in 2015. Home backs to woods, farm land & Silver Creek! (NOT in FEMA Flood Plain!). Septic pumped in 2015. Carpets cleaned in Jan 2017. Homes in this subdivision have Richmond addresses! 2 miles from I-75 Exit 83!

Directions:  From Lexington take I-75S to exit 83.  Make a right onto Duncannon Lane 0.5 mi. Turn Lest onto Caleast Road 1.5mi. Continue onto Menelaus Road 0.3mi. Turn right onto Welchwood Drive and the home will be on your right. 

 

 

 

 

 

 

Amanda Marcum 859-353-2853 / Call or Text

 

Posted in Real Estate Berea
Feb. 1, 2017

206 Valley Street, Richmond, KY 40475

206 Valley Street, Richmond, KY 40475

3 Bedrooms / 1 Bathroom / 1 Car Garage / 1241sqft / 0.24 of an Acre / $119,900.00

Wonderful solid home in an established neighborhood. All brick ranch home custom built in 1972 by the owners & now being sld by their children. Dual fuel gas HVAC system, metal roof, wood burning fireplace w/insert & blower, updated kitchen cabinetry & counter tops in 2005(roughly), full unfinished BSMT w/life warranty to be transferred from B-Dry. Single car garage is extra deep w/room to move W/D hook up from the BSMT. Gas stove for the gourmet cooks out there. Bathroom updated 2015 with $14,000 walk in bath tub/shower that is self sanitizing! Ideal for older, disabled or anyone who likes to relax in luxury! Storge bldg conveys. Flat yard, home NOT in the FEMA flood plain. Madison Co. schools shows Madison Middle or Clark Moores.

Direction: From Lexington take I-75S to exit 90A  Merge onto US-25S / Lexington Road 4.9mi. Turn right onto Big Hill Avenue 0.1mi, then a right on Northland Drive.  Make a right onto Hwy Road and Hwy Road turns left and becomes Valley Street.

 

 

 

 

 

Amanda Marcum 859-353-2853 / Call or Text