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Can You Buy a House on Disability Benefits or SSI?

by Scott Coppage

Many people in Kentucky who are on Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) benefits wonder if buying a home is within their reach.  Many are also concerned that the mere fact of owning a home may affect their benefits going forward. The truth is that many people on SSDI and SSI benefits do qualify to buy a home. Yet as you can imagine, there are some hurtles to do so.

What are some of the challenges? Understandably, the benefits for SSI are low and it may seem almost impossible for some to save for a home while trying to make ends meet.  Those receiving SSDI benefits aren’t sure how long those benefits will last.  This makes it difficult to prove a stable income for getting a loan.

The other challenge is that SSI rules put a limit on how much income and assets you can have while receiving benefits.  So there’s a fine line between making or having enough to save for a home and retaining benefits. But the good news is that the home itself is not considered an asset, as it’s your primary residence. 

All this may make the idea of buying a home while on SSI and SSDI benefits seem almost impossible.  But it’s not. There are a number of programs that can help.  For example, Fannie Mae offers loans for people with disabilities.  Here’s some examples:

  • Fannie Mae loans for disabled individuals
  • Individual Development Account (IDA)
  • Habitat for Humanity
  • Housing and Urban Development (HUD) Homeownership Voucher Program

There may also be some nonprofits in Kentucky that can help as well.

The bottom line is that if you are on SSI or SSDI and are considering buying a home in Breckinridge, Hardin, or Meade Counties in Kentucky, give us a call at 270-422-4687 to see how we can help you find assistance.

Wake Up With the Best Coffee in Elizabethtown

by Scott Coppage

Looking for a new way to start the day in Elizabethtown? If you’re favorite way to wake up is with a hot espresso, delicious tea, or tasty pastry, then there’s a perfect coffee shop or café waiting for you to try.  If you plan on buying a home in or around Elizabethtown or just visiting, be sure to try one of these morning hot spots.

Vibe Coffee

With the highest rating on Yelp of coffee shops and café’s, Vibe is definitely the first place to try a new espresso drink, smoothie, or baked delight.  Vibe is the perfect name for this coffee shop with it’s inviting atmosphere and friendly staff. The recently renovated building reflects a rustic and industrial feel, giving it plenty of open space to relax with friends and family. Even people from as far away as Los Angeles rave about this gem of a coffee shop, saying it’s a must for any coffee lover from near or far.

The Cafe at Swope Toyota

You might not think that a car dealer would be the best place to find great coffee and desserts.  But The Café at Swope Toyota is definitely the exception. They serve everything from specialty coffee drinks to delicious desserts and ice cream.  So whether you’re coming her to have your car worked on or just want to enjoy the food, The Café is one of the best places to wake up in Elizabethtown.

Panera Bread Elizabethtown

Panera Bread is well known for serving healthy food that’s free of artificial ingredients. To start your morning, they have a great selection of freshly baked breads, bagels, breakfast sandwiches, oatmeal blends, and delicious espressos and hot drinks such as pumpkin spice lattes, hot teas, ices coffee drinks and much more.  Or try their mouth watering lunch menu items.

Great coffee is just one small reason to buy a home in Elizabethtown or Hardin County.  Visit our Hardin County Real Estate And Community Information page to learn more about Hardin County and to search for your dream home today.

 

5 Reasons to Work With a Local Agent

by Scott Coppage

Are you still not sure whether you want to work with a real estate agent to help you buy a home in Meade, Hardin, and Breckinridge County? The 2017 Profile of Home Buyers and Sellers was just released by the National Association of Realtors.  They surveyed recent home owners about their experiences, and an entire section was devoted to buyers. Here’s an overview of what they said about their experiences with working with a real estate agent.

Helped the buyer understand the process

60% of home buyers surveyed said that their agent helped them to understand the buying process. Their agent helped them to understand what to expect during the entire process so that there were no surprises along the way.

Pointed out unnoticed features/faults with the property

Buyers said that their agent helped them to either see possible uses for an extra bedroom or office, but they also helped them see potential disasters. Remember that most agents have been selling homes for years and know what to look for. They know what previous home buyers have done with the homes they purchased, so they can give you insight on how a home may fit your needs.  They can also find potential problems you may miss otherwise.

Negotiated better sales contract terms

Contracts are inherently complex, so it makes sense to have someone on your side who knows all the ins and outs of the terms of the contracts and will be on your side. If there are features on the home that turn out to be less than desirable, your agent can make sure contingencies are in place to help you get the best price.  They can also compare the value of the home with the local market in Kentucky to make sure the home is appropriately priced.

Provided a better list of service providers

Few professionals network better than real estate agents.  Many agents have a list of preferred vendors that they’ve worked with in the past and trust. These vendors can include mortgage professionals, home inspectors, plumbers, painters, contractors, landscapers, home stagers, and more.

Improved the buyer’s knowledge of search areas

The All About Homes Realty team are experts in the areas of Meade, Hardin, and Breckinridge Counties. Like all good real estate agents, they live and work in the community and can give you local insights, especially if you’re moving in from outside the area.

It’s clear that using a local real estate agent makes the experience of buying a home much easier and will help you find the perfect home.  Give the  All About Homes Realty team a call at 270-422-4687 to see how they can help you find the perfect home in Meade, Hardin, and Breckinridge Counties.

Meade, Breck and Hardin County Real Estate Trends in 2018

by Scott Coppage

Hi, Scott Coppage here with All About Homes Realty.

 

Yes, 2017 was another record setting year for local real estate sales.  The National Association of Realtors, NAR, provides great real estate data for the major markets all over the country, but what about in your backyard?

Well, you have come to the right place to find out.  Every month we talk about Real Estate issues and how the market is doing right here in your area.  Today I want to discuss how the  2017 market and what we expect in 2018. 

 

The first half of 2017 started out on fire with sales exceeding 20 percent over 2016 even though inventory, the number of homes available for sale, was very low compared to 2016. However, sales in the second half of 2017 slowed as market inventory continued to tighten but, we still finished slightly above 2016.  Meade County real estate sales for the year were only up about two percent above 2016 but median the sales prices appreciated a strong eight percent building equity for those looking to sell.   Our overall market sales which includes Meade County, Breckinridge County, Hardin County, Vine Grove, Rineyville, Elizabethtown and Radcliff were up by strong 12 percent over 2016.  Our market got back to normal from the great recession in 2015 and has been setting records every sense including 2017.

 

 

So what about 2018??  

 

Well, it's anybody's guess but all the numbers I will watch are going in the right direction for another record sales year in 2018.  Two straight quarters of three percent GDP, near four percent unemployment, strong car sales and a booming economy all tell me 2018 is going to be another record breaker.

 

 

My Advice

Buyers-

We all know interest rate's are still incredibly low at around four percent for most people but  there on the way up. So, if you find your dream home my advice is to jump on it.  

 

Sellers-

2017 is the first true Sellers Market that I have seen in this area in years.  Prices have appreciated eight percent over 2017 and available inventory (the competition) is still quite low. Our agents at All About Homes Realty are really working hard to find buyers the homes they want.  We have a lot more buyers then we have homes to sell them.  So sellers, in my view, you are in the perfect storm.  Low inventory, high buyer demand, and near historic low interest-rate’s...it's a great time to be selling.  Rates are undoubtably going up so now is the time to sale.

 

Find the Best Restaurants in Elizabethtown

by Scott Coppage

Back Home RestaurantAre looking for a great new place to eat in Elizabethtown? One of the many things that make Elizabethtown a great place to buy a home is all the great restaurants found here. For a city of around 29,000, there’s almost 100 restaurants just waiting to be discovered! TripAdvisor.com has rated the top restaurants in Elizabethtown, as well as categorized them by restaurant type, price range, best places for lunch, and cheap eats. Here’s a few of the top restaurants in Elizabethtown for you to enjoy.

Back Home Restaurant

One of the highest rated restaurants in Elizabethtown, Back Home is a great place to enjoy the best family recipes in town.  You find a wide range of Southern delights, with appetizers such as Homestyle Onion Rings and Sweet Onion Soufflé.  Main dishes include sandwiches, burgers, along with entrees highlighting country favorites such as Chicken Fried Chicken, Open Faced Roast Beef, and Chicken Tenders.  After your meal, you can check out the gift shop and boutique where you can take home some country charm.

Texas Roadhouse

Don’t let the fact that this is a chain restaurant fool you. People rave about the great food and amazing atmosphere here and say this is the best restaurant of its kind. You can start eating the minute you sit down with unlimited hot rolls and peanuts. You’ll find all your favorite steakhouse meals, such as buffalo wings, tater skins, fried pickles, and cactus blossoms for starters.  Then dive into the main course with mouthwatering favorites such as hand-cut steaks, chicken, ribs, fish, burgers, and country favorites. There are also great choices for the little ones in your group as well, along with gluten-free options.

2B Thai

If you love Thai food, then you’re in luck.  2B Thai is also one of the highest rated restaurants in Elizabethtown.  There are a number of ways to get the right taste of your meal here.  Choose your meat, your spiciness, and your dich, or go with one of their specialties. People also enjoy the friendly and efficient staff.

Mark's Feed Store

Of course any great Kentucky city must have outstanding BBQ, and that’s exactly what you’ll find at Mark’s Feed Store. They have the best BBQ meats and baked beans in Elizabethtown, served up fast and delicious.  Come in for lunch and enjoy their BBQ sandwich lunch special, chicken fingers, sliders, honeywings, and baby back ribs. The kids won’t be left out with their selections for smaller appetites.

Of course this just scratches the surface of all the great places you can eat in Elizabethtown. And if you want to find a home for sale here, then make sure to view all the homes available in Elizabethtown.

And make sure to follow us on Facebook for regular real estate updates!

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All About Homes Realty
All About Homes Realty
2075 Bypass Rd, Ste 3A
Brandenburg KY 40108
270-422-4687
270-668-5328
Fax: 270-592-0002