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Stephenie Wright reviews

Stephenie Wright - Agent with Alpha Omega Real Estate Services, Inc.

Alpha Omega Real Estate Services, Inc. BBB Business Review

10 BBB Customer Reviews

Welcome

Welcome to Alpha Omega Real Estate Services, Inc. the premier resource for all real estate information and services in Radcliff, Elizabethtown, Rineyville, Vine Grove, Hardin County and the surrounding areas. Whether you're selling or buying a home, or just thinking about it, you've found the right website.  We are the one and only real estate source you will need.  We will be with you and help during the entire real estate process, from beginning to end.  We hope you enjoy your visit and explore everything our real estate website has to offer, including real estate listings, information for home buyers and sellers, and rentals.

Looking for a new home? Use Quick Search or Map Search to browse an up-to-date database list of all available properties in the area, or use my Dream Home Finder form and we will conduct a personalized search for you.

If you're planning to sell your home in the next few months, nothing is more important than knowing a fair asking price. We would love to help you with a FREE Market Analysis. We will use comparable sold and active listings to help you determine the accurate market value of your home.

Call Alpha Omega Real Estate Services today to schedule an appointment to have your rental properties managed by professionals.  Our office has over 40 years of combined property management experience.  We are a family owned real estate and property management business located in Radcliff, KY.  We service properties in Radcliff, Elizabethtown, Rineyville, Vine Grove, Hardin County and surrounding counties.  We treat your property as if it were our own, with accurate accounting, due diligence and professionalism.  We are members of the Hardin County Chamber of Commerce, Radcliff Small Business Alliance, and Better Business Bureau.  We advertise your vacancies on several websites such as Trulia, Zillow, Hotpads as well as our own website.  We have an average of 95% occupancy rate and help to make your rental property profitable.  Call us today and speak with Douglas Wright to see how we can help turn your “headache” of managing your rental into a less stressful experience.

 

 
 

Real Estate News!!!

Latest Realty News from NAR

Property Values By State from 2005-2018

Home price appreciation is an important topic in today’s economy. Using data from the American Community Survey (ACS), we can analyze the gains and losses of property values over time. I estimated the median property values by state in 2018 using the FHFA index and the median property values from the (ACS). I then calculated the growth rate from 2005 -2018. [1]

The states with the highest estimated median property values in 2018 are The District of Columbia ($677,473), Hawaii ($649,272), California ($566,311), Massachusetts ($428,161) and Washington ($384,740).

The states with the lowest estimated median property values in 2018 are Alabama ($148,827), Oklahoma ($139,385), Arkansas ($135,733), Mississippi ($123,586) and West Virginia ($120,720).

On a regional level, the estimated price growth appears to be the strongest in the South, West, and Midwest. Price growth is weakest in the Northeast states. Overall, all regions are displaying strong to moderate growth in property values. Below is a breakdown of the Census four regions by state.

 

  • In the South, which typically leads all regions in sales, The District of Columbia led the region with 76 percent estimated price growth from 2005 to 2018. Maryland experienced 1 percent annual price growth and since 2005, home prices have grown 21 percent.

  • In the West, the least affordable region[2], Montana led all states with 88 percent price growth from 2005 to 2018. Despite the strong price growth in California since 2012, prices have only increased by 19 percent since 2005. Nevada shows a 9 percent price change over this time turning around any previous loss in value.

  • In the Midwest where affordability is most favorable, North Dakota led all states with 115 percent price growth from 2005 to 2018. Illinois, while having the smallest growth in the region had an estimated 12 percent price growth over this time.

  • In the Northeast where sales and price growth is typically slow, Pennsylvania lead the region with a 48 percent price growth from 2005 to 2018. Rhode Island, while having the smallest gain of all states, increased 6 percent price change over this time. Rhode Island is one of two states that turned around a negative property value over this time compared to 2017.


[1] I used the FHFA expanded data set not seasonally adjusted data.

[2] Based on NAR housing affordability index

Can Homeowners Cope with Lower Home Prices?

With interest rates on the rise, home prices have started cooling off.[1] On the one hand, the cooling of home prices in high-priced metro areas makes a home purchase more affordable, saving households nearly $50/month on a median-priced home.[2] On the other hand, falling prices also erodes the wealth (home equity gains) of current homeowners and can drive homeowners in a negative equity position (when the value of the home is lower than the remaining loan balance). How will declining home prices affect current homeowners and how does the current decline in home prices in some areas compare with the home equity gains?

The table below shows the home equity gains for homeowners who purchased a home in 2012 Q1 as of 2018 Q3. The home equity gained is the difference between the estimated value of the property purchased in 2012 Q1 in 2018 Q3 less the outstanding loan balance as of 2018 Q3.[3] Nationally, over the period 2012 Q1 through 2018 Q3, a homeowner who purchased a median-priced home in 2012 Q1 has gained $96,187 in home equity, which is equivalent to 41 percent of the estimated value of the home in 2018 Q3, at $235,119.

Of the 160 metro areas for which NAR calculates the median sales price, the metro areas where homeowners accumulated the largest home equity gains during 2012 Q1 – 2018 Q3 based on the purchase of a median-priced home in 2012 Q1 were San Jose-Sunnyvale-Sta. Clara ($591,576;56% of the estimated home value of $1.06 million as of 2018 Q3); San Francisco-Oakland-Hayward ($527,610; 57% of the current home value of $920,715); Urban Honolulu, HI ($337,013; 35% of current home value of $990,009); Los Angeles-Long Beach-Glendale ($374,565;49% of current home value of $768,634); and Boulder, CO ($329,608; 50% of current home value of $657,692).

The metro areas with the lowest home equity gains during 2012 Q1- 2018 Q3 based on the purchase of a median-priced home in 2012 Q1 were Cumberland, MD ($4,847; 6% of current home value of $79,343); Decatur, IL ($10,753; 12% of current home value of $86,302); Fayetteville, NC ($15,431; 11% of current home value of $138,627); Montgomery, AL ($17,641; or 15% of $119,252); and Peoria, IL ($17,679; or 14% of current home value of $128,818).

 

How do these equity gains compare with the price declines in high-cost metro areas thus far?  

We use the median list price in October 2018 on Realtor.com and look at the year-over-year change and compare these changes to the equity gains as a share of the current home values. In October 2018, median list prices declined in several high-priced metro areas compared to one year ago, but these declines are modest compared to the equity gains measured as a percent of the current home value: San Jose-Sunnyvale-Sta. Clara (-0.1%); San Francisco-Oakland-Hayward (0%); Sta. Maria-Sta. Barbara (-7.8%); Salinas ( -6%); Sta. Rosa ( -7.1%); Oxnard-Thousand Oaks-Ventura ( -2.1%). Among the 500 metros tracked by Realtor.com, the steepest decline in the median list price in October from one year ago was Denver-Aurora-Lakewood (10%).

In 301 of the 500 metro areas tracked by Realtor.com (60 percent), the median list price of homes for sale on Realtor.com were still up in October 2018 compared to one year ago.  List prices rose in areas such as Seattle-Tacoma-Bellevue where prices are more affordable than in California ($555,050; 12.1%); Boise City, ID ($330.048; 15%); Indianapolis-Carmel-Anderson, IN ($241,450; 15%); Greensboro-High Point, NC ($223,625; 14.5%);Las Vegas-Henderson-Paradise ($325,000; 14.5%), and Harrisburg-Carlisle, PA ($216,760; 14%).

 

In summary, homeowners have built up a sizable equity since 2012 that is larger relative to the price declines that have occurred thus far in several high-priced metro areas. Moreover, home prices are still appreciating in lower-priced metro areas. Given the strong underlying economic fundamentals in 2018— strong employment growth, the demographic boost from the 25-44 age group which includes the millennials, and safer underwriting standards and level of household debt—it does not yet appear likely that home prices will crash to a level that will wipe out this home equity gain. NAR Chief Economist Lawrence Yun forecasts no recession ahead that could cause a collapse in job growth which will impact the demand for housing.

 


[1] The earliest indicator of the direction of home prices—NAR’s median home prices— rose 4.3 percent in 2018 Q3, the slowest average rate for the quarter since 2012 Q1. The home price indices of the Federal Housing Finance Agency, S&P CoreLogic Case-Shiller, and the U.S. Census Bureau for new 1-family homes also show a slower price appreciation in 2018 Q3 (FHFA, 6.3%; S &P CoreLogic Case-Shiller, 5.7%; U.S. Census Bureau 1-family homes, 2.3%) compared to the pace of appreciation in 2018 Q1.In 500 metro areas tracked by Realtor.com, the median list price of homes for sale declined in 199 metro areas (40 percent), with the largest declines occurring in high-priced metro areas.

[2] At the current 30-year fixed mortgage rate of 4.83 percent with a 10 percent down payment, every $10,000 decline in home prices results in a saving of $47/month.

[3] I estimated home equity by subtracting the loan balance as of 2018 Q3 to the current home value as of 2018 Q3. I estimated the current home value by applying a home price appreciation factor using FHFA House Price Index (FHFA HPI 2018 Q3/ FHFA HIP 2012 Q1). I assumed that a homeowner purchased a median-priced home in 2012 Q1 at the average median price in 2012 Q1 of $158,333 financed by a 30-year fixed rate mortgage of 3.6 percent (2012 Q1 average) and a 10 percent down payment.

October 2018 Pending Home Sales

  • NAR released a summary of pending home sales data showing that October’s pending home sales pace was down 2.6 percent last month and fell 6.7 percent from a year ago.
  • Pending sales represent homes that have a signed contract to purchase on them but have yet to close. They tend to lead existing-home sales data by 1 to 2 months.
  • All four regions showed declines from a year ago. The West had the biggest drop in sales of 15.3 percent. The Midwest fell 4.9 percent followed by the South with a decline of 4.6 percent. The Northeast had the smallest dip in sales of 2.9 percent.
  • From last month, three of the four regions showed declines in sales. The West region had the biggest drop of 8.9 percent. The Midwest fell 1.8 percent followed by the South with a dip of 1.1 percent. The only region with an incline in sales was the Northeast, which had a modest gain of 0.7 percent.
  • The U.S. pending home sales index level for the month was 102.1. September’s data was revised up to 104.8.

  • In spite of the decline, this is the pending index’s 54th consecutive month over the 100 level.
  • The 100 level is based on a 2001 benchmark and is consistent with a healthy market and existing-home sales above the 5 million mark.

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Testimonials Page

Stephenie and Doug were great help in our search for a new home. They got us a great deal, and really looked out for us. With her experience, she knew what was needed which helped smooth the process. Her support goes beyond just the purchase of a house. There is so much more to buying/owning a house, and it's nice to know you have a friend to assist you. J.L. & K.L.
Doug Wright with Alpha Omega Real Estate is an outstanding professional and one of the best agents I've ever worked with. We had a bit of an unusual situation, our goal was to buy a property sight unseen from overseas before moving to Kentucky. Doug took it all in stride and did what needed to be done to make sure that we were buying the right house and would be happy with how it turned out; after the sale I am happy to say the sale experience and the property exceed our expectations. I own multiple investment properties in various metro areas in Texas as well as Kentucky and I have unfortunately learned the hard way that good real estate agents are very difficult to find. Out of dozens of agents I've tried to work with Doug stands out as performing at the absolute highest level of professionalism and effectiveness, particularly in his communication which may be perhaps the most important trait in an agent. He truly went above and beyond, going the extra mile to meet people for deliveries unrelated to the sale of the house, scheduling repair work after closing, and checking in and having the yard maintained, etc all because we weren't scheduled to arrive in town until after closing. And the entire time I was receiving updates via email within 24 hours of any request I had or anything happening that I needed to know about, and usually much faster than that. It's clear that Doug knows his job and knows how to make his clients happy, and he has demonstrated superb knowledge and judgment with regards to making recommendations about all aspects of the home buying process, from suggesting insurance agents and title companies to contractors for rehab work, and on and on. I look forward to the opportunity to make use of his services again. M.G.
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