Northern Kentucky (with emphasis on Kenton County), area's most dedicated Real Estate
professional that focuses on you....the buyer or seller; landlord or
tenant.....helping you throughout a hassle free residential or commercial
real estate property transaction. Special emphasis on servicing clients
downsizing to more manageable properties.
I operate as a Real Estate Broker Associate :
Russ Connors Realty, LLC
4135 Alexandria Pike Suite 101
Cold Spring, KY 41076
Cell: (859) 468-0130
License #: 201843
homeowners have no mortgage
95% of homeowners are current with their
5.34% of all FHA mortgages in
foreclosure (as of Feb 2016)
* according to Corelogic
Buyers/Sellers: Don't miss the market! "Buy
land....they're not making any more of it". Tired of chasing tenants
down for the monthly rent? Buy land and log it/farm it to make your investment
pay while you play on it. Russ Connors has contacts who can help you
evaluate the timber value of your wooded land parcels.
Commercial Real Estate:
Resizing your business, moving or expanding into Northern Kentucky area?
Drop your rental expense 30-50%. New opportunities for small businesses (industrial, medical, office & retail). Not
all change is negative.
Do you own 20+ acres that could be
developed into a commercial/industrial building site? According to the
Judge Executives of Kenton and Boone Counties, there are no 20+ acre
sites developed/ready to be built on. This a great opportunity for
folks holding developable land sites.
See this hopeful
article. Call Russ Connors Realty, LLC
for information on Industrial Flex Space in the Northern Kentucky area.
It is currently a buyer's/tenant's market. Many properties close to the
Cincinnati/Northern Kentucky International Airport will help your
international company with better efficient logistics.
Who do you know that wants to buy?
Want to buy a HUD house?
Behind or expect to be behind in your
mortgage payments? Don't be too quick to jump into a short sale. Ever
hear about a "deficiency judgment ? Seek legal advice first before
contacting a Realtor. Don't ask a Realtor for "ADVICE" about "short
sales". We can "educate" but don't advise. Advising is a legal activity
and Realtors don't practice law. Ask your attorney what "Flopping" is as
it relates to a short sale. Have your attorney advise you on benefits
and consequences of bankruptcy and foreclosure.
Short sales can be an attractive way
to purchase properties at below market valuations but you need an
abundance of patience and flexibility. Can you wait 6 months or so to
close the transaction? What if you wait 5-6 months and then the seller
declares bankruptcy or the lender decides not to accept your offer?
I have buyers for more than 100 acre parcels.
Are they really such a bargain? What are some of the
disadvantages in trying to buy foreclosed property. Make sure you know
the reasons for obtaining an "Owner's Title Policy". Get the facts--
call Russ Connors Realty, LLC-- 859-468-0130.
Housing "Rescue" package--- will it help?
American Recovery & Reinvestment Act of 2009
Market improving a little? Check this
Is it better to sell in a slumping market and
subsequently buy your next home at a discount or sell in a rising market
and buy at rising prices?
This is a great time to sell and get to pick your
next home out of a good size inventory of real good homes.
Reasons to list
your home NOW!!:
has just opened up one of the largest stores (127K sq ft) in the Cincy
metro area....here in Independence. This is evidence that Kroger
believes as I do that Independence is a fast growing area and
will be the retail Hub of Northern KY.
(1) 56 solds
in Independence in August 2017. Inventory is now at 98 homes (1.8
months inventory). List with me and let's get your property sold fast.
If you wait too long to buy you could have whatever gains you
make eaten up with higher interest payments.
(2) Interest rates seem to have bottomed out and now are on the
way back up. This could be the best time to buy, with 3.5% down
w/ FHA. USDA has a 100% loan program for those who qualify. Many
homes in this area are eligible. I predict interest rates to
rise as well as lending standards becoming more restrictive.
Check out Kentucky Housing Corporation. On a $100,000 purchase ,
an increase of 1% in interest rate raises the Principal and
Interest monthly payment 12.2 % .
You should understand that FHA has changed how
long you need to keep paying the "mortgage insurance". This
change may cause you to find a way to qualify for a
"conventional loan" requiring 20% down payment.
(3) Get on my list of people looking for bank-owned
property-----this is where the action is. Many bank/lender owned
properties are not in "lendable" condition. Call me for a
purchase strategy that can work in these situations.
I will be having more bank
owned properties coming on the market--very soon. Contact me so that I have
your name to call when they become available.
(4) List with me and get RESULTS!
What's going on in
or Commercial. In Independence it's Russ Connors Realty, LLC. Get
in on the ground floor of one of the fastest growing markets in the
Northern KY/ Cincinnati Metro area. # of households, in Independence,
grew 65% between 2000 & 2006. Independence is being described as the
upcoming "epicenter of retail" in Kenton County.
Russ Connors can
help you find the "right builder" and secure the homesite that
meets your needs and wants. Russ has experience representing
buyers of "new construction". One mistake buyers of new
construction make is assuming that by cutting the Realtor out of
the "deal" they can get a deeper discount from the builder. Most
reputable builders will tell you that they build in a commission
to the buyer's Realtor into their marketing budget and so
whether or not you use a Realtor to represent your interests, or
not, most often it doesn't affect the sale price....just your
probability of being adequately represented in the largest
purchase of your life.
Consider buying the least expensive property in
an excellent location, tearing it down, and building new. I have
building contractor contacts who are specializing in this rather
than the declining tract home building. Do you want one of those
cookie cutter houses on a street that has multiple foreclosures
happening? It's going to tear down your value. Improve your
chances of maintaining or improving your value by situating your
home among others that have substantial equity and therefore
less likely to be in foreclosure.
Strategies in a Slumping Market
Investors have a great opportunity to pick
up multi-family properties, rehab them and rent them out.
CAP rates above 8.5% are not unrealistic. There are many
properties to select from because too many "investors"
loaned up their properties too much and now are "under
water". Maintenance is being neglected.....tenants moving
out or at least complaining a lot.....causing the owners to
say...."I've had enough....SELL!!!! Independence has a
good deal of land that could be developed for multi-family
Current inventory of Single Family
Residences is very low. If you like a certain property,
chances are good that other buyers like it too. You need to
have a system for finding those good properties quickly.
Call Russ at 859-468-0130 and he'll set up an automated
search based on your criteria.
Interest rates are near record lows and many
many people with decent credit. can qualify for a mortgage
.....don't believe the gloom and doom news you're hearing on
the mainstream media. No.....you don't need 20% down, as the
main stream media is saying. FHA is underwriting loans right
now that require a lot less than 20% down....just a decent
credit score. If your score is above 620 and you can put 3.5%
down, you should be able to work out a loan.
Many "foreclosure homes" or REO
properties are coming onto the
market. They are at all price levels. These could be a very
good opportunity for you to buy an affordable home or pick
up another rental property. Many of
these REO homes will be sold "As Is", so be careful and make
sure you have a competent home inspector inspect the home
for defects. Title exams are a must. Know what you're getting into. Here's an
article I found on the web dated 11 October 2007:
I'm seeing REO companies wanting FICO scores if there is
less than 20% down payment.
Master Commissioner sales are time consuming
and risky. More often than not, the "Plaintiff" gets the
property back. If you "win" the auction, you probably have
not been inside the property and therefore its condition is
a question mark. I would suggest being real careful and
expect title "issues". If you're looking for a bargain, I
have better/less risky ideas. Call Russ
Connors Realty, LLC-
Renting is not the safest approach it used
to be. Landlords could be getting behind on their mortgage
payments and get foreclosed on....forcing you out on short
notice. I see rents rising due to demand and shrinking
availability. Investors/Developers looking for land to erect
a 5+ unit MultiFamily building should contact Russ Connors.
Get in on the ground floor before everyone else has the same
idea. I'm predicting a shortage of rental units.
Waiting for prices to go lower? There is a
limit how far sellers can go down on their price without
bringing lots of money to the closing table. If you see a
home that meets your needs, call Russ Connors (859-468-0130)
and let's discuss the next step. By the way....the next step
is becoming pre-approved. Get pre-approved and be ready to
share your FICO score with the seller.
Looking for a GREAT BARGAIN? This could be
the reason lots of 1st time home buyers are looking at REOs
(Bank Owned Properties). Are you spinning your wheels and
wasting energy? I think many are. Once these homes are
looked at carefully, you find many are not LENDABLE.
How do you get loan approval on a property that the banks
won't underwrite due to its condition. One answer is FHA
203K loan. This is a loan that combines the fix-up costs
with the purchase price. I haven't found many lenders who
want to bother with all the red-tape and paperwork
involved.My advice is that if you need a FHA/VA loan, that
you tell your Realtor to limit the search to properties that
are probably lendable and skip over the ones that have been
empty for a long time with no maintenance done on them.
There are 5 keys to selling homes: LOCATION,
PRICE, TERMS and
CONDITION and FINANCING. PRICE is 90%
of the marketing. If the price is wrong, practically nothing
else matters. Unfortunately for sellers, too many buyers
want a good investment as well as a good home. As sellers,
you need to attract folks looking for a nice home....because
they NEED one. People still NEED homes. Develop a marketing
plan with your Realtor (hopefully, Russ Connors). In this
market, looking at comparables more than 5 months old could
result in a false market indicator. This is a rapidly
changing market and therefore comparables no older than 5
months should be the best indicators of market value. Russ
Connors will study your neighborhood and determine how many
months supply of homes are on the market. One competitor
sellers will encounter are sellers of foreclosed homes. They
will keep dropping the price until it sells. Then....that
sales price may get used as a comparable (even though were
told appraisers won't do that). If a home is priced above "market
value" it will take much longer to sell; if priced
below "market value" it should take less time to sell.
I just had one of my listings go "Pending" in less than 30
days......it was priced to sell quickly....and
Banks aren't lending money like they were and too many real
estate deals are falling apart because the buyer can't get
financing. If you are in a position to finance the deal, you
may be able to differentiate your property from all the rest
that depend on buyers getting loans from banks. You probably
could get MORE money for your property if you offer the
"Owner Financing" option. 35% of all
homeowners don't have a mortgage and this makes them
exceptionally prepared to finance their sale. There are many
benefits to seller ("vendor") and the buyer (the "vendee").
Many homes are not priced to "market".
Why????, you ask......Because the seller will be upside-down
if they lower the price to "market value". Too many pending
deals are falling apart because the seller incorrectly
calculated how much money they needed to BRING to the
Develop a contingency plan if the original
plan doesn't work out. Consider what happens when the
buyer's lender informs the buyer that their source of
funding dried up and now can't do the loan. Have
contingencies thought out BEFOREHAND.
Work out a "Net Sheet" based on various
sales price scenarios. Don't get surprised the day before
the closing with how much you may need to BRING to the
closing if you are "upside down".
Behind in mortgage payments?-----
Don't wait until the lender sends you a pre-foreclosure
letter. Contact a "competent" Realtor who knows how to do a
"Short Sale". He/She may be able to save your credit
standing, instead of having a foreclosure on your credit
record. Don't just let a foreclosure happen. It will be a
long time before you will be able to buy another home if you
just let events end up with you being foreclosed upon. A
"Short Sale" is a win-win for everyone involved. Ask your
Realtor how many short sales they have done.....it's not for
Make your house "LENDABLE" before putting on
the market. Most buyers are FHA buyers and the lenders will
not underwrite a home that needs a bunch of repairs. My
advice is to fix first and then list. You should attract
good buyers who will have lenders that will willingly lend
on a good condition property.
Russ Connors Realty, LLC uses every arrow in
the quiver to motivate a buyer to consider a listing we
have. Russ uses targeted post cards to potential sellers.
Russ has techniques for zeroing in on potential buyers. Russ
has many ideas on how to sell a saleable listing. Contact
Russ Connors to find out how he can help you. Houses are
selling.....just the ones priced right.
Russ Connors Realty, LLC focuses on residential and
commercial real estate in Northern KY, specifically Boone, Kenton,
Campbell, Owen, Pendleton and Grant Counties. Most of my activity is in
Kenton and Boone counties. Cities that I most often work in are:
Independence, Taylor Mill, Ludlow, Fort Mitchell, Fort Wright, Lakeside
Park, Crestview Hills, Edgewood, Crescent Park, Crescent Springs, Kenton
Hills, Park Hills, Villa Hills, Morningview, Ryland Heights, Covington,
Florence, Burlington, Hebron, Walton, Union and Verona. Commercial
opportunities abound in Northern KY.....just look at the
Russ Connors Realty, LLC is a HUD Registered Broker
which means that buyers can call Russ Connors and have him show any HUD
house they may be interested in. Russ can provide you a list of HUD
houses for sale. There are great HUD programs like the
Good Neighbor Next Door Sales program that offers great savings ( up
to 50% off listed sales price). Agents-- Your broker isn't
registered?- Let me help you and I'll pay your broker a very healthy
Loan Servicers: Contact Russ Connors Realty,
LLC (859-468-0130) to arrange listing your REOs. Russ Connors has 4
years experience with multiple loan servicers. Russ maintains the
properties so that they are attractive to all kinds of buyer
prospects....investors, first time home buyers, move-down buyers, etc.
Russ Connors Realty, LLC can assist any Commercial
brokerages not licensed in KY with finding suitable sites for retail
Russ Connors Realty, LLC can provide commercial as well
as residential BPO (Broker Price Opinion) services. Accuracy and timely
work is our specialty.
Buyers and investors looking for bank owned foreclosed
properties can work with Russ Connors who will set up a specific search
so that newly listed properties are emailed directly to your email
address allowing quick action to be taken. Jump on those bargains fast
before they attract a crowd.
First time home buyers will enjoy working with Russ
Connors Realty, LLC. After an initial meeting to learn how Russ Connors
can help first time home buyers, targeted searches will be set up taking
into account communities of specific interest in the pre-determined
here to Email me