What I did today between cups of coffee

It’s been an interesting day.

Like all my days, it begins with a cup of coffee.

A client wanted to see a new construction town house again.  It was 60 degrees today.  When we get a temperature like that in Kentucky this time of year, we usually get something not so fun to go with it like wind or rain.  It was rain today.  My client and I ended up with severely muddy shoes.  Thankfully I had my emergency pair of socks in the car so I could enter the last house I showed her.  When you wear sandals year round, you’ve got to keep a pair of socks in all your cars.

There are about 5 recent pending sales within this upscale townhouse complex.

The last house I showed her was one I had been very interested in seeing.  It has been on the market for a loooooong time.  I found out today that it recently got a contingency contract and was being kept an active listing for a buyer without a contingency.  I also found out that flooring made from distressed barn wood pulls the threads in your socks.

Then on my way home, I returned a phone call from an agent friend.  She and her husband are considering moving to my neighborhood and wanted to know what it is like living here.  I probably disappointed her a bit because I told her it is the most unfriendly neighborhood I have ever lived in.  She told me that the house she is interested in, which has been on the market for several months, got an offer this morning.  The current list price is well over $500k.

As I am coming home, talking to her in the car, I drive past a house in my neighborhood that I thought would only sell if it were the last house for sale in all of Fayette County.  It has a SOLD sign plastered across the sign in the yard.

Another house (not in my neighborhood) that looks like a Spanish Mission style version of the Brady Bunch house recently went pending.  The list price was over $450k and it was pushing a full year of being for sale.

I am really amazed at all the higher end sales between Thanksgiving and Christmas.  Could it be that people feel good about the economy and are ready to spend?  Could it be that rising interest rates have pushed some 2017 spring buyers to act now?

All I know is that I was happy to spend the day checking out some pretty nice properties and sliding around in the mud with my client.

It’s the end of my day now.

Time for my evening cup of coffee.  Decaf this time.

Winter really IS the best time to sell

There are two kinds of listing:

  1.  The listings that are so desirable based on price/condition/location that EVERY buyer currently in the market wants it.
  2. All the other listings.

If you have one of those houses that makes people hear angels sing as soon as they walk through the door, are in an extremely desirable neighborhood, have priced your house to sell, or any combination of all that, congrats, your house will sell quickly any time of the year.  You have nothing to be worried about.  Spring is good.  Summer is good.  Fall is good. And yes, winter is good too.

If your house isn’t one of those, then you need to tweak everything you can if you want the coveted “SOLD” sign in your front yard.  You have what I call the Bridesmaid house because you know that saying, right?

Every year, people ask whether they should wait to list, or take their house off the market until spring.  My answer has always been no.

Why?

Because if you have a Bridesmaid house, there is always going to be a better house on the market all other times of the year.  I see it happen all the time.  A listing that is always the buyer’s second or third choice stays a second or third choice as long as those better houses keep coming on the market in the spring, summer and fall.

In the winter, there are far fewer buyers but there are also far fewer great listings.  Winter buyers typically have to settle for what is left over from the fall.  Picture this…..you’re at a Chinese buffet for lunch.  It’s 12:55.  There is one greasy looking Crab Rangoon.  All the General Zhao’s Chicken left are those thin, hard looking pieces that you think are really cat meat.  You are the only one at the buffet and nothing looks good.  Then, somebody comes out from the kitchen with some fresh food.  Even if it is just Pork Lo Mein, you eat it because it is the best thing available.

That is how the winter market works.

So, if you are ready to sell your house now, there is no need to wait until spring.  If you have been on the market without an offer, now really is your best shot at selling.

 

I improved a neighborhood BEFORE it was a neighborhood

10,000 trees.  That is how many I planted in what is now known as The Enclave at Chilesburg.

It was the mid 90s.  Back then Andover Hills was a fairly new neighborhood.  There was a 32 acre parcel that was outside the urban service area.  The developers, Bob Miller and Lynwood Wiseman, decided they would build their own houses on it.

Bob Miller went first.  He had Jose Oubrerie design his house while he was in town serving as Dean of UK’s College of Architecture.  Oubrerie learned a thing or two about architecture from his time with a more recognizable name in architecture, Le Corbusier.

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Ok, that is the history of the place before my time planting trees.

Bob Miller was a lawyer.  My dad was a lawyer.  All lawyers know each other because half of them have been partners at one time or another.  Anyway, my dad was good friends with one of his partners and that is how I found out about the job to plant 10,000 trees.

I had seen Bob Miller’s house only from the road.  This was long before Hays Blvd existed.  There was just the little country road over there and it was called Walnut Hill-Chilesburg or something like that.  In the fall and winter, you could see the house from that road.  I had always wondered what it was since it is unlike anything else in Lexington.

Bob gave me the address, which was then on Maple Ridge Road in Andover Hills.  I remember wondering how I was going to plant that many trees on a neighborhood lot-this was before google earth.  I pulled up to a driveway between two houses at the end of the cul de sac and there was a gate.  It opened and I followed the road to the house I had previously only seen from a distance.

I was speechless as I approached the house.  It was a piece of art to me, surrounded by 32 beautiful acres as it’s frame.  There was a pond in front of the house….well, it was really the back of the house but you saw it first as you came down the driveway.

Bob liked trees.  He had made a walking trail all the way around the place, which is now part of the neighborhood.  He wanted to make a forest in the middle.  So, I spent a few weeks randomly planting about 8 different types of saplings all over the field across from his house.

One late afternoon, I took a break and gazed across the land that is now Chilesburg.  I remember thinking that one day, I would bring my kids to see these trees when they were huge.  The trees when they were huge, not my kids.

Another time I was out planting, Lynwood Wiseman came out in his Nissan Pathfinder and gave me a hard time about planting where he was going to build his own house one day.  He drove over most of the freshly planted trees on his way in and out.  I told him I was only doing as I was told and he would need to talk to Bob about it.  Few people disliked Lynwood.  Everybody else hated him.  Lynwood would eventually build his house on the opposite side of the pond from Bob Miller.  It is still there, right in the middle of the neighborhood.  The pond is long gone, filled in to make lots for new houses.

I was in an architectural program at LLC at the time.  I told several students and a few teachers about Bob’s house.  Word got over to the College of Architecture.  Turns out that Bob had involved many students in the designing and building of the house, allowed it to be photographed for various architecture books and magazines…..and then closed the gate once it was all over.  I was the only person those architecture loving people knew who had seen it in person.  I asked Bob if I could take some pictures and make a video of the place.  I did not realize at that time how private he was about the house.  I have always appreciated his kindness to me for that.  The video I made ended up in the UK College of Architecture’s library.  It was a VHS tape.  I sure hope somebody converted it to a DVD.

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Those were happy memories for me.  Then there were some unhappy memories of that place.  Bob Miller passed away.  His wife Penny, who was the inspiration for Penny Lane in Andover Hills, sold it to a developer.  That developer went belly up.  The house was vandalized many times.  While it finally did get an owner who appreciates it, it just isn’t the same for me when I see it now.

I did take my kids to see the trees when Ball Homes began to develop the land.  About half of them are gone (the trees, not my kids).  They are about 30 feet tall I guess.  I think of all the people who picked their lot because it backed to the wooded area that I helped create.  I think of how nice it felt the day they were planted, when I was out in a beautiful field, the only sound being the wind passing through trees, and Bob’s house in the corner of my eye.  I also think about the day when somebody backing to my trees calls me up to list their house, and I get to tell them everything you just read.

2 Lexington homes whose history you didn’t know

I’m doing a mash up of Old Lexington, scandal, politics, big business and……real estate?  Yep, real estate.  Just like a retro-local version of Lifestyles of the Rich and Famous.

Before moving to Lexington in the mid-80s, I was in Frankfort.  And when you live in the capitol of this fine state, you are always aware of who is the Governor.

So let’s begin with John Y. Brown’s house:

One of my favorite things to do when I was a teenager was driving around neighborhoods and looking at houses.  This one caught my eye long before I knew it’s history.  I later found out that it was John Y’s house, but it wasn’t until I read this book that I knew what kind of stuff went on here:

The book is a good read.  I had always thought of John Y. Brown as the guy who stole Kentucky Fried Chicken from Colonel Sanders and that chubby Governor who really liked riding in helicopters until I read this.  My favorite memory of John Y was when I was in the 4th grade.  He and his wife Phyllis George landed in a helicopter in front of Hearn Elementary.  A limo showed up with their newborn baby, Lincoln Brown.  All us kids got to stand in line and walk past the limo for a quick glimpse of Baby Lincoln.  Even as a kid, I thought it was crazy that they chose the helicopter for transportation when the Capitol was about 5 miles away.  Even crazier now that I am a parent is that the school interrupted education so we could see some baby whose dad was the Gov.

His house last sold for $660k in 2012.  From the pictures I saw when it was for sale, it looks like several of the bathrooms are pretty original-in that cool mid century way.  Somebody at some time added an amazing swimming pool.  The basement has a catering kitchen.  I don’t know if that is an original feature.  It looks to be since the cabinets feel more like 1960 than the 1970s when John Y lived there.

 

Moving on, the other  80s Governor who is memorable for things not having to do with being the Governor, is Wallace Wilkinson.  He is best known for saying things like he was for “Tax Avoidance” and not “Tax Evasion.”

Life was probably pretty good for him when he built this monster of a house in 1972.  His chain of bookstores were doing so well that he had the money to make several additions to his home, one of which was an indoor swimming pool.

This picture was taken when he was selling the house….probably to pay off the $300,000,000 in debt he had at the time.

According to Wikipedia, he was insolvent since about 1992 and was operating a Ponzi scheme.  Maybe that is why the pool was covered with a tarp in this picture?

Wilkinson’s house last sold in 2004 for $875k.   It use to have two other huge lots with it, but those were sold to pay off his creditors.

Every time I pull into Greenbrier, I try to imagine what it would have been like for Wally to drive home from work.  I picture him in a 1979 Cadillac Seville, talking on a giant cell phone hardwired inside his car as he drives past Hamburg back when it was only a farm.  He waves to Anita Madden if she is at her mailbox.  He gets off the phone about where Man O War is now, pushes the Conway Twitty 8-track in the stereo and chills for a minute before turning on Bahama Road.  Then it is fondue for dinner and an evening watching The Love Boat and Fantasy Island.

 

 

The Postcard Predators almost got her house

She has a house she needs to sell.

She kept getting postcards in the mail from predators promising to pay a fair price for her house and close quickly.

She called them.  They pestered her like debt collectors.  The stress put her in the hospital.

She doesn’t know what the house is worth, or how the process works.  That is exactly what they hoped.

Her relative called me.

I listed the house, but before I put it on the market, I showed it to the investors who had called her.  One guy had gone as far as sending a contract and earnest money check to her estate attorney.  When I told him I was now involved, he tried to say he had already bought the house.  I told him to show me a signed contract.  He didn’t have one because it didn’t exist.  He was mad because he wasn’t going to be able to take advantage of her.  He vented quite a bit, but I refused to engage him.  He tried to say he wasn’t sure he was even going to make an offer now.  I told him he could think about it and let me know later…..because I knew he was just wanting to see if I was afraid to lose his offer.  When he saw it didn’t phase me one bit, he raised his offer by $5000.  He was still close to $10k less than I think I can get for her.

I told her that unless she needed the cash super fast, she would get more by exposing it to a bigger buyer pool.  I told her that the Postcard Predators will always be there if she needed a faster sale.  She agreed.

We got the first showing scheduled about 15 minutes after I posted it on the MLS.

I will get her the most money possible for her house.

I am happy that I could protect her from the Postcard Predators.