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TRID Q&A – Be Informed When Selling Your Home!

August 27, 2015

TRID stands for TILA, RESPA, Integrated Disclosures.

At its core, it is new mortgage disclosure forms and rules that govern all residential mortgage transactions.

New Federal Rules are effective October 3, 2015

Q&A for this significant industry-wide change below!

Q: To whom do these new rules and disclosures apply?

A: Any potential buyer that will obtain a mortgage to purchase your home.

Q: Why should I care about these TRID rules and disclosures if they apply to the buyer?

A: Because while the rules apply to the buyer, there could be impacts that affect the entire transaction, which includes you as the seller.

Q: What are some possible impacts to me as the seller?

A: Below are the Top 6 Possible Seller TRID Impacts:

1. If your buyer is getting a loan to purchase your house, the process to get that loan will take longer. Set clear closing expectation with 45 day contracts.

2. There are situations where closing can be delayed 3 or more days because of changes. So AVOID LAST MINUTE CHANGES if possible.

3. Because closing delays are possible, back-to-back closings (close on the sale of your current house as the seller, then turn around and close on the sale of your next home as the buyer) may not be accommodated by some lenders and title companies. Don’t let the domino effect create additional stress.

4. Buyer pre-approvals will be more generic and some lenders may not offer pre-approval requests at all anymore because of new definitions under the TRID rules.

5. If you’ve bought or sold recently, the form signed at closing will look different, and what you sign as the seller may even look different from what your buyer signs.

6. With industry-wide software updates, new forms, and longer time periods to complete the process, there may be higher costs involved.

Article & photo courtesy of Sibcy Cline Mortgage Services

Northern Kentucky Homefest 2015: Part 5

August 26, 2015

Homefest is taking place in Triple Crown again this year. It runs from August 8- 23 and features 5 beautiful homes for you to tour!  Admission is $10 at the show or $8 at area Rempke Markets.

Today I am giving you a tour of The Eisenhower by Maronda Homes. The homes offers over 5,100 sq feet of living space, with 4 bedrooms and 5 bathrooms.

This was actually my favorite home of the show! I thought this floor plan made the most sense for how I would use a house (specifically I liked that all the bedrooms were on the same floor, a must for me with little ones).

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The home had a nice two story entry which I personally am a big fan of, I just think it makes the  home feel large right from the start.

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There was also a nice sized study right off the entry with a fun barn door and really stunning bookcases- the woodwork was all custom and you could tell!

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The great room was very nice and open with a see through fireplace between the family room and hearth room.

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The kitchen was HUGE and was one of the only items that I wasn’t totally in love with. First the color choices aren’t really my style but I also found the set up odd. There was a kitchen island and then a second island with stools. It felt a little cramped even though there was a ton of space.

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See what I mean?? I feel like I would be constantly walking back and forth around the “middle” island getting stuff.

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Upstairs the master bedroom was large with a sitting area and tray ceiling.

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I also liked the master bath which was luxurious but also practical, it wasn’t the largest one of the tour but honestly who needs a 300 sq ft bathroom!?!

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Finally in the finished basement was a large bar and separate movie room.

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So there you have it- The Eisenhower by Maronda Homes. This home is currently for sale for $739,999- call me today if you’d like to schedule a showing!

 

Don’t miss all my Homefest Tours:

The Drees Company’s The Drew Anthony

Adam Miller Homes’ The Jones

Fischer Homes’ The Rookwood

Maronda Homes’ The Eisenhower

The Drees Company’s The Sebastian

 

To view all 5 homes in person:

Regular Dates & Hours
August 8-23
Thursday & Friday 5-9:00 p.m.
Saturday noon-9:00 p.m.
Sunday noon-6:00 p.m.

Admission is $10 at the show or $8 at area Rempke Markets

Northern Kentucky Homefest 2015: Part 4

August 22, 2015

Homefest is taking place in Triple Crown again this year. It runs from August 8- 23 and features 5 beautiful homes for you to tour!  Admission is $10 at the show or $8 at area Rempke Markets.

Today I am going to give you a tour of Dress Homes’ second entry into Homefest. Last week I showed you The Drew Anthony by Drees and today I will give you a tour of The Sebastian.

The Sebastion is a 3,000 plus square feet, 4 bedrooms and 4 bathroom ranch.

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The color scheme was very “coral” in this home, it felt bright and airy though I wouldn’t be able to live with so much pinky orange all the time!

The kitchen was very large with classic white cabinets. I especially liked the light fixtures over the island.

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The master bedroom and bathroom were both large and the bedroom had a ton of natural light!

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The finished basement had a walkout and another large window, so again, lots of natural light.

The lower level family room also had a small wet bar with a really funky backsplash- it reminded me of an M.C. Escher drawing.

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All the homes had nice backyards but I especially liked this one with the covered porch and outside fireplace!

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So there you have it, a quick tour of Dress Homes’ Sebastian. This home SOLD for $639,900.

 

Don’t miss all my Homefest Tours:

The Drees Company’s The Drew Anthony

Adam Miller Homes’ The Jones

Fischer Homes’ The Rookwood

Maronda Homes’ The Eisenhower

The Drees Company’s The Sebastian

 

To view all 5 homes in person:

Regular Dates & Hours
August 8-23
Thursday & Friday 5-9:00 p.m.
Saturday noon-9:00 p.m.
Sunday noon-6:00 p.m.

Admission is $10 at the show or $8 at area Rempke Markets

 

Northern Kentucky Homefest 2015: Part 3

August 18, 2015

Homefest is taking place in Triple Crown again this year. It runs from August 8- 23 and features 5 beautiful homes for you to tour!  Admission is $10 at the show or $8 at area Rempke Markets.

Today I am giving you a tour of “The Rookwood” by Fischer Homes. This 5,445 sq foot ranch home, offers 4 bedrooms plus a study. Decorator-wise it was my favorite home (I’m saving my favorite overall home until last!). The style and finishes were totally how I would style my home with an unlimited budget and massive square footage!

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I thought the outside had great curb appeal with all the different roof lines and window styles.

Inside the first thing I noticed were these fantastic lights in the dining room- LOVE. And the floors throughout the first floor were a gorgeous hand scraped hardwood.

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The great room offered a wide open plan with the kitchen, living room and eat-in “family dining” spaces. This home, like the Drew Anthony by Drees, also featured a beamed ceiling.

 

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The master bedroom was HUGE with its own sitting area…who actually has time to sit in their bedroom and hang out?!? It was lovely, if not very practical.

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The master bathroom was also gorgeous with a very pretty soaking tub and a large double shower.

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The best area though, was downstairs. The finished basement offered the 4th bedroom, full bath, large bar and a fabulous theater area. The wall on the left was actually made from bark, like tree bark. It was pretty neat, I wouldn’t use it on a whole house but it gave the basement a warm and cozy feel while still being modern.

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Just to the right of the theater area was the bar, like The Jones, the bar might as well be considered a second kitchen. And the peninsula appeared to be done in white washed wood but was actually wallpaper!

 

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This home SOLD for $589,900. That’s it for The Rookwood, isn’t is pretty?

 

Don’t miss all my Homefest Tours:

The Drees Company’s The Drew Anthony

Adam Miller Homes’ The Jones

Fischer Homes’ The Rookwood

Maronda Homes’ The Eisenhower

The Drees Company’s The Sebastian

 

To view all 5 homes in person:

Regular Dates & Hours
August 8-23
Thursday & Friday 5-9:00 p.m.
Saturday noon-9:00 p.m.
Sunday noon-6:00 p.m.

Admission is $10 at the show or $8 at area Rempke Markets

Northern Kentucky Homefest 2015: Part 2

August 15, 2015

Homefest is taking place in Triple Crown again this year. It runs from August 8- 23 and features 5 beautiful homes for you to tour!  Admission is $10 at the show or $8 at area Rempke Markets.

Yesterday I gave you a tour of the Drees Company’s “The Drew Anthony“, and today I want to show “The Jones” by Adam Miller Homes. This 4 bedroom ranch had a very mod twist, though with traditional furnishings I think it could work for anybody.

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Overall I liked this house, the floor plan was very open from the foyer to the living room and then into the dining and kitchen. It features 2 bedrooms, a study and 2 full baths on the first floor and 2 more bedrooms and another full bath in the finished lower level. The is a covered porch off the back plus a large patio area.

However, the first thing that greets you in the foyer is velvet teal wallpaper! I know wallpaper is making a comeback but I thought this was a lot of wallpaper and a crazy bold choice!

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This kitchen was crisp and white, there wasn’t a ton of cabinet space but the pantry was large and there is a huge wet bar (really a second kitchen) in the lower level that could store all your entertaining needs.

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The pantry also had a herb garden- pretty fun idea, kids would love it too!

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Here’s the lower level kitchen- tons of space there as well!

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The rest of the lower level offered 2 bedrooms and a full bath plus this large family room space.

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The master bedroom was spacious and I love windows over the bed, I think it gives natural light without sacrificing privacy.

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The master bath was the talk of the agents I was with- totally open with a slanted floor to drain the shower- it was sleek but I wouldn’t like not being able to get the air in the shower warm and steamy.

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The home also featured a workstation/drop zone for backpacks and coats. An area like this now seems like a “must have” in almost every home. And all the homes I toured had something similar.

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I didn’t get a photo of the back yard but it offered a very nice patio with a fountain and fire pit, you could access it from the lower level walk out which made the whole lower level a great entertaining area!

This home is listed for sale at $650,000 and is still currently for sale. Call me if you would like to take a closer look and I would be happy to show it to you!

 

Don’t miss all my Homefest Tours:

The Drees Company’s The Drew Anthony

Adam Miller Homes’ The Jones

Fischer Homes’ The Rookwood

Maronda Homes’ The Eisenhower

The Drees Company’s The Sebastian

 

 

To view all 5 homes in person at Homefest:

Regular Dates & Hours
August 8-23
Thursday & Friday 5-9:00 p.m.
Saturday noon-9:00 p.m.
Sunday noon-6:00 p.m.

Admission is $10 at the show or $8 at area Rempke Markets

 

 

 

Northern Kentucky HomeFest 2015: Part 1

August 14, 2015

This week I had the privilege to get a Realtor sneak peek at the 2015 Home Fest taking place in Triple Crown this month. There are 5 homes in the tour this year and it was a lot of fun to take a look! I took some photos to share with you, of course!

The first house is a Drees Company home called the Drew Anthony (it’s a mouthful!). The builder says the home is over 4500 sq feet, with 5 bedrooms and 4.5 baths.

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The living room had beamed ceilings, which I thought were gorgeous. This was one of 2 homes with beams in the great rooms, so I foresee a trend!

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The master bathroom was very pretty and I didn’t take a photo of the closet because I was in such awe- it was HUGE, I mean GIGANTIC.

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The kitchen was traditional but what I really loved were the knobs, they were square and not frilly but also felt fancy…I am on the hunt to find those for my kitchen now!

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In the office lots of Realtors were oohing and ahhing over the shutters INSIDE the house. It was a fun little decorator’s touch. The floors throughout the first floor were a light birch color, I didn’t really care of the color, though I am a huge fan of wood floors in all the living spaces!

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The only real complaint I had about this house was there seemed to be a lot of wasted square footage. This area, for example, is at the top of the stairs and directly next to the huge 2nd floor bonus room. This “nook” was large enough to be a bedroom but I wasn’t really sure what you would actually use it for day-to-day.

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Downstairs in the finished basement was a large media room and billiards area along with a small wet bar.

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There you have it- The Drew Anthony by Drees, listed at $589,900, this home is already sold.

Stay tuned- up next, a mod Adam Miller Homes ranch! (UPDATE: Here’s the link)

 

Don’t miss all my Homefest Tours:

The Drees Company’s The Drew Anthony

Adam Miller Homes’ The Jones

Fischer Homes’ The Rookwood

Maronda Homes’ The Eisenhower

The Drees Company’s The Sebastian

 

To see the homes yourself:
August 8-23
Thursday & Friday 5-9:00 p.m.
Saturday noon-9:00 p.m.
Sunday noon-6:00 p.m.

Admission is $10 at the show or $8 at area Rempke Markets

Average Home Sale Price Hits a Record in Northern Kentucky

August 13, 2015

Northern Kentucky home sales were up 2.61% in July as compared to July 2014. The average selling price in July was $177,230 – which is the highest average monthly price ever recorded.

Here are the statistics:

July 2015 vs July 2014

  • 2.61% Increase in homes sold (629 homes vs 613 homes)
  • 7.30% Increase in average sale price ($177,230 vs $165,171)
  • 1.39% Increase in median sale price ($146,000 vs $144,000)
  • 10.10% Increase in sales volume
  • 68 days Average days on market (vs 80 average days on market in 2014)

January – July 2015 vs January – July 2014

  • 1.02% Increase in homes sold (2,862 homes vs 2,833 homes)
  • 5.29% Increase in average sale price ($161,032 vs $152,935)
  • 5.26% Increase in median sale price ($139,900 vs $132,900)
  • 6.37% Increase in sales volume
  • 77 days Average days on market (vs 83 average days on market in 2014)

It’s a great time to buy and sell a home. Contact me today for a free Market Analysis or Buyer Consultation

 

 

Article courtesy of Sibcy Cline News

 

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