Foreclosure starts surge as lenders start ‘spring cleaning’

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Foreclosure starts surge as lenders start ‘spring cleaning’

Backlog of seriously delinquent loans working its way through system

The number of homes repossessed by lenders finally dropped to precrisis levels last year, but a surge in properties entering the foreclosure process or headed for the auction block at the end of the year indicates lenders are preparing to do some “spring cleaning” by taking action against hundreds of thousands of delinquent borrowers during the next six months.

Lenders took back just 327,069 homes last year — the lowest annual total since 2006, according to RealtyTrac’s year-end foreclosure market report. At the height of the downturn, 1 million homes a year were going into lenders’ “real estate owned” (REO) inventories.

But in the final month of the year, foreclosure starts — legal notices to homeowners that begin the process of auctioning off or repossessing a home — were up 14 percent from the year before, to 59,358.

Scheduled foreclosure auctions — the beginning of the foreclosure process in some states — were also up 7 percent from a year ago during the final three months of 2014. During the fourth quarter, 148,023 homes were headed for the auction block, the first annual increase in four years.

The surge in foreclosure starts doesn’t mean that more homeowners are getting in trouble — the overall pool of distressed mortgages has not increased. It’s more an indication that lenders are tackling backlogs of distressed properties in judicial foreclosure states created by the “robo-signing” scandal.

“The geographic location of the surge in foreclosure starts is not surprising,” said Andres Carbacho-Burgos, an economist at Moody’s Analytics, which uses RealtyTrac foreclosure data to forecast trends. “The list of states with increased activity in the last months of 2014 includes those with judicial foreclosure backlogs such as Massachusetts, New Jersey, Pennsylvania and New York.”

Surge_in_foreclosure_starts_RealtyTrac_1_14_15

Although Nevada is also on the list and is not a judicial foreclosure state, it has “a substantial pool of seriously delinquent mortgages relative to the years before the housing crisis,” he said.

Public records compiled by RealtyTrac showed that last year 1.12 million homes were hit with some kind of foreclosure filing, such as a default notice, scheduled auction or bank repossession, a decline of 18 percent from 2013 and 61 percent from the 2010 peak of 2.87 million.

It was taking an average of 604 days to move homes all the way through the foreclosure process during the fourth quarter, down from a record-high 615 days in the third quarter. That was the first quarterly decrease in foreclosure timelines since the first quarter of 2011, RealtyTrac said.

via Foreclosure starts surge as lenders start ‘spring cleaning’ | Inman News.

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200 real estate industry leaders announced | Inman News

200 real estate industry leaders announced

Stefan Swanepoel’s most powerful people in residential real estate

Real estate guru and consultant Stefan Swanepoel announced his Power 200 List today, a roundup that includes franchise, technology, brokerage, media and other industry executives who influence and shape the real estate business.

Top executives with Realogy and major franchisors including Berkshire Hathaway HomeServices, Keller Williams Realty, Re/Max and Coldwell Banker accounted for nearly 20 percent of “the most powerful and most influential leaders in the residential real estate brokerage industry.”

Richard A. Smith, the chairman, CEO and president of real estate brokerage and franchise giant Realogy, is Swanepoel’s selection as the Most Powerful Person in residential real estate brokerage.

“While there are others who have higher personal profiles, within the industry there is no doubt that none have more power and influence in almost every aspect of the residential real estate brokerage industry than Smith,” Swanepoel said.

Spencer Rascoff, CEO of Zillow, ranks second followed by Gary Keller, founder and chairman of Keller Williams Realty International; Dave Liniger, founder and chairman of Re/Max; Wesley Foster, founder and chairman of Long & Foster; Jim Weichert, founder and president of Weichert Realtors; and Dale Stinton, CEO of the National Association of Realtors.

Newcomers to this list include Ryan O’Hara, the newly appointed CEO of realtor.com operator Move Inc.; former PayPal, LinkedIn, Yelp, YouTube and Airbnb entrepreneur and now founder of Opendoor, Keith Rabois; and Kevin J. Kelleher, CEO and president of Cartus Corp., Realogy’s global relocation subsidiary.

Thirty-eight of those listed are women — some are shown with their male business partners — mirroring industry leadership demographics dominated by older white males.

The executive editor of the Power 200 is blogger and consultant Rob Hahn, who said, “We acknowledge their enormous influence and contribution to our industry by detailing their role in improving the overall homebuying transaction and the real estate business in particular.”

Some of those listed are clients of Swanepoel. But according to the introduction to the report, Swanepoel “reviewed nearly 1,000 contenders. We scoured the Web, read hundreds of bios, read hundreds of LinkedIn pages, sent hundreds of requests for additional information, made endless telephone calls to verify or confirm stats, and cross-referenced data with surveys, reports and company announcements.”

Inman Publisher Brad Inman was No. 40 on the list.

“Who doesn’t want to be on such a list?” Inman said.

via 200 real estate industry leaders announced | Inman News.

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Will’s Grill opens in Simpsonville | SentinelNews.com

Will’s Grill officially opened for business.

Halfway through the day, owner Will Hawkins said business was already booming.

“We fed about 96 people that came into the store but we probably put out 150 orders,” he said.

The take-out BBQ restaurant had a successful grand opening day, despite a few hiccups with the payment system.

Hawkins originally planned to open the doors in September, but delays with various zoning permits pushed the opening into 2015.

“I’ve been waiting for this day for a long time and it finally came… I’m wore out,” he said.

While the restaurant might be new, the food is already a familiar favorite among locals, as Hawkins has been sharing his Southern barbeque with the community since 2007, when he began cooking in front of local businesses.

“I cooked barbeque out of a tent at Metzger’s [Country Store], Jamison’s [Sales and Rental], and Chism’s [Hardware],” he said.

In 2010, Hawkins invested all of his retirement money into a food truck and the necessary upgrades so that he could operate Will’s Grill in various locations in the county.

As the popularity of his food truck grew, Hawkins knew his business would have to change in order to keep up.

“My business has grown over 40 percent every year since 2011,” he said. “I had to make the decision to go to a brick and mortar.”

But now that the building is open, Hawkins said he has no intentions of parking the food truck.

“We’re still going to do to the truck as a chain… It’s going to be parked at Jameson’s in the spring through fall,” he said.

And even more expansion could be on the horizon for the BBQ chain, Hawkins said.

“I’ve thought about building a bigger restaurant in Shelbyville,” he said, noting that he would like to establish a sit-down dining restaurant that could hold 200 to 300 patrons.

Hawkins believes the popularity of his barbeque is directly related to the unique flavor.

“I’m originally from Georgia so I do a true Georgia/North Carolina barbeque,” he said “My barbeque is different from anywhere else that you go around here.”

Hawkins learned his cooking techniques from an older generation of men in Georgia during church cookouts and various events, but the recipes he had to learn on his own.

“There’s no secrets in barbeque. We all use the same ingredients, just in different amounts,” he said. “Barbeque is not about sauce, it’s about the meat. Sauce enhances the meat.”

Hawkins believes he perfected his flavor in 1997 when he first opened Will’s Grill as a side job in Georgia.

But when his full-time job brought him to Kentucky, he reluctantly put his barbequing days on hold.

He quickly settled in Simpsonville, and made a mental note that he would one day open a barbeque spot in town.

In just four years, Will’s Grill was up and running again.

“It just seems like this is what I’m suppose to be doing,” he said.

When the time came for Hawkins to retire from his full-time career, he didn’t settle into an easy chair. Instead, he took advantage of the opportunity to finally focus on his dream.

“I did electrical controls for 20 years and I retired to be my own boss,” he said. “It’s been hard, but it’s been fun.”

Hawkins also caters his made from scratch dishes at weddings and other events.

But for Hawkins, the business is not just about making money.

“I take care of a lot of people around here, not just big businesses, the locals are eating here with me every day and they support me,” he said.

“I’m not just here to take their money, I’m here to work in the community and be a part of the community,” he said, explaining that in his time here he has catered fundraisers and made several donations. He added that he plans to continue to help out wherever he can.

And Hawkins takes as much pride in his barbeque as he does his community.

In his short time barbequing in Kentucky, Hawkins has already received several accolades, including the 2013 GFS Marketplace BBQ Champion, and his Facebook feed is full of praise, with 42 of his 45 customer reviews honoring him with five out of five stars.

Hawkins backs up those commendations, saying “When you’re all Will’s Grill, you’re at the place that tastes as good as it smells.”

via Will’s Grill opens in Simpsonville | SentinelNews.com.

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Merry Christmas for short sellers: Mortgage debt forgiveness is back | Inman News

Merry Christmas for short sellers: Mortgage debt forgiveness is back

One-year retroactive extension covers 2014 deals

A comprehensive tax bill that reinstates protections for distressed homeowners shielding them from having to pay taxes on mortgage debt forgiven in 2014 is headed for President Obama’s desk.

The tax break on forgiven mortgage debt, and another allowing homeowners to deduct mortgage insurance premiums, was one of 55 provisions in the Tax Increase Prevention Act passed Tuesday in a 76-16 Senate vote.

The House passed the bill 387 to 46 on Dec. 3, and Obama is expected to sign the bill into law, enabling the tax break retroactively through Dec. 31 of this year.

The Mortgage Forgiveness Debt Relief Act of 2007 was created in the aftermath of the housing bust, with the intention of protecting homeowners who lose their home in a short sale or deed-in-lieu of foreclosure from the double whammy of a whopping tax bill.

Before the exemption was created by Congress, if a lender agreed to let a homeowner with $400,000 in mortgage debt sell their house for $300,000, the IRS would treat the remaining $100,000 of forgiven mortgage debt as income.

The House and Senate extended the tax break on forgiven mortgage debt in 2009 and 2012, but it lapsed at the end of 2013.

More than 800,000 homeowners have claimed the tax break, National Mortgage News reports, citing Rep. Charles Rangel, the New York Democrat who was a sponsor of the original bill.

In the first eight months of this year, loan servicers working for Fannie Mae and Freddie Mac signed off on just 27,800 short sales, down from 125,232 in 2012, National Mortgage News said.

via Merry Christmas for short sellers: Mortgage debt forgiveness is back | Inman News.

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FHA slashing mortgage insurance premiums by $900 a year | Inman News

FHA slashing mortgage insurance premiums by $900 a year

Rollback could bring 250,000 first-time homebuyers into the market

After raising them six times during the housing bust, the Obama administration is reversing course and rolling back mortgage insurance premiums charged by the Federal Housing Administration by enough to save homeowners an average of $900 a year.

In a move expected to bring 250,000 first-time homebuyers into the market, FHA will reduce annual premiums by half a percentage point, to 0.85 percent. That will make homeownership more affordable for more than 2 million homeowners in the next three years, Secretary of Housing Julian Castro said in a statement.

FHA’s upfront premiums of 1.75 percent will remain unchanged. So a first-time homebuyers taking out a $180,000 mortgage will pay $3,150 upfront and $1,530 a year in premiums for access to FHA mortgage programs that let them purchase a home with as little as 3.5 percent down. Today, the same homeowner pays $2,430 a year in annual premiums.

President Barack Obama is expected to discuss the premium cuts tomorrow during a visit to Phoenix — one of the markets hit hardest by the housing boom and bust — Bloomberg reports.

The Obama administration raised FHA premiums during the housing bust not only to shore up capital reserves — which were hit hard by loan defaults — but to give back some of the market share taken away from private mortgage insurers, who insure mortgages guaranteed by Fannie Mae and Freddie Mac when borrowers put less than 20 percent down.

Last month, Fannie and Freddie’s federal regulator said the mortgage giants are ready to boost purchases and guarantees of mortgages where borrowers put just 3 percent down.

Although premium increases and tighter underwriting standards have helped FHA bolster its insurance fund’s capital position by more than $23 billion, premium reductions were seen as unlikely. That’s because it will probably be 2016 before a 2 percent cash cushion mandated by Congress is restored.

In an analysis published this week, researchers at the Urban Institute calculated that if FHA lowered annual premiums to 0.9 percent — a hair above where they’re actually going — it would still make as much as $3.1 billion on loans it insures this year.

The National Association of Realtors claims that FHA premium increases priced nearly 400,000 borrowers out of the housing market in 2013, and 234,000 in 2014. In the past four years, NAR said, the share of first-time buyers using FHA-backed loans shrank from 56 percent to 39 percent.

NAR President Chris Polychron — who will meet President Obama tomorrow — is hopeful the premium rollback will provide greater access to homeownership entry-level and underrepresented buyers.

“I look forward to attending the speech and sharing our views with President Obama,” Polychron said.

via FHA slashing mortgage insurance premiums by $900 a year | Inman News.

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8 ‘extras’ that help sell a house –As time on the market goes up the SELLING PRICE goes down

As time on the market goes up the SELLING PRICE goes down

When I list a home to sell I am very direct on how it can be accomplished quickly, but a home must be prepared for sale.  Many homeowners can’t see it for themselves.

You can find all the homes for sale in Shelby county here

These simple extras can help sell a home more quickly and for top dollar.

1. Fresh exterior paint. If the home has siding or trim and you can see wood “bleeding” through flecks of paint, then the property needs to be painted prior to marketing it for sale. This should include the trim and fascia!

2. New carpet. There are a handful of things that all buyers despise. Old or worn carpet is usually first or second on everyone’s list!

Compare a Fannie Mae HomePath listing and a HUD listing. What you will see at every HomePath listing is new carpet and fresh paint. What you will see at a HUD listing often is an abused home that needs renovation prior to anyone being able to comfortably live in it. The last HUD home I closed was “uninhabitable,” according to the appraiser. Fannie Mae is getting both a faster sale and a premium on the average closing in our market compared with HUD, according to our MLS. And what’s good for HomePath’s marketing can be good for your seller, too!

You can find all the homes for sale in Shelby county here

3. Remove wallpaper. Buyers tell me that wallpaper makes a home seem “dated.” And it is a chore to remove! I have seen painters who would almost tear up when asked if they would take wallpaper down, repair the walls and paint.

4. Turn up the lights! A builder showed me a trick once: Put high-wattage bulbs in a house to brighten it up for sale. They make everything seem to “pop” compared with underlit rooms or rooms where bulbs are burned out.

5. Change air filters and vacuum the vents! If your seller has pets, this is a must!

6. Remove litter boxes and anything that screams “pets.” Now, I am a pet guy. I have a dog and a cat. Not to show partiality to either, but nothing will kill a sale quite as fast as an odorous kitty litter box. And if door jambs and the woodwork have been gnawed by Fido, encourage the seller to fix or replace them prior to listing.

7. Fresh interior paint. The interior of a home shows best when walls are a neutral color, feature no more than two different colors, and have trim and baseboards that are painted a fresh white. I have been in houses where I could stand in one spot and see six different colors of paint! That is too busy for buyers to deal with, and it will make the house sit longer. Remember that dark colors make a room feel smaller, whereas lighter colors make a room feel larger.

I sat in a home once where the gable ceiling was painted mustard yellow on one side and ketchup red on the other! The seller went on about how much she loved the colors, but eventually the ceiling had to be painted to sell the house. There is a reason why builders typically use neutral colors. They sell!

8. Pressure wash. You have seen it, I am sure: the side or back of a house that was “green.” I always encourage my sellers to pressure wash the exterior of the house. If needed, pressure wash the side of the neighbor’s house, too! (Do so only with their permission, of course.)

There is some work involved in each step, but if you can appeal to the largest number of buyers and make the home feel like new, it will sell quickly and for a premium price!

via 8 ‘extras’ that help sell a house | Inman News.

 

You can find all the homes for sale in Shelby county here

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Whiskey makers fight fire with cinnamon: Everyone chasing Fireball’s heat | Bourbon Industry | WWW.SHELBYCOKYHOMES.COM

 

The cinnamon wars get hotter every day — or night, as the case might be.

If you’ve been at a holiday party recently, chances are you were offered a shot of cinnamon whiskey. Most likely it was Fireball.

Sazerac’s hugely popular cinnamon whiskey was recently named the eighth most popular spirit brand by volume, with more than 700,000 cases sold at U.S. retail stores in the 52 weeks that ended Nov. 30, according to IRI, a Chicago-based market research firm that measures retail trends.

According to IRI’s figures, retail sales of Fireball — at supermarkets, drugstores, convenience stores, etc. — surged 129 percent during the past year, to $126 million, not including what is sold in bars.

That will not be a surprise to anyone who has been in line at a drugstore behind a flock of college students clutching purse-size $1 Fireball bottles.

Other major whiskey makers are chasing the Fireball comet: In April, Jack Daniel’s began testing Tennessee Fire, which will go national in 2015; in August, Jim Beam brought out Kentucky Fire; in October, Wild Turkey debuted American Honey Sting; and in November, Diageo came out with not one but three Jeremiah Weed flavors: Cinnamon, Spiced and Sarsaparilla.

That’s just in the past year. Heaven Hill already had two out: Cinerator, which launched two years ago, and Evan Williams Cinnamon Reserve. Early Times, another Brown-Forman brand, had Fire Eater; Wild Turkey also had Spiced, and Beam had Red Stag Spiced.

Flavored whiskeys, once considered a kind of vodka knock-off or a social media fad, have come into their own, with 4.5 million cases sold in 2013. That year, according to the Distilled Spirits Council of the United States, almost half — 45 percent, or 1.4 million cases — of the growth in whiskey sales came from flavored whiskeys.

David Ozgo, an economist for the spirits council, said his rough estimate is that flavored whiskey sales will top 5.4 million cases for 2014.

“And that’s without numbers from the Christmas season,” Ozgo said. “The last few months of the year are very important, and flavored whiskey is the sort of thing you see people featuring at holiday parties.”

The majority flavor is cinnamon, followed by honey, he said.

“I think the exciting part is that it is all largely driven by the popularity of whiskey, and bourbon in particular in the last couple of years,” Ozgo said. “You wouldn’t have flavors if you didn’t have the increased popularity of bourbon. It’s a new way to try an old product for a lot of people.”

Josh Hafer, spokesman for Heaven Hill, said connoisseurs constantly ask, “Why would you adulterate whiskey with flavors?”

These whiskeys aren’t really for them, he said.

“We make great whiskeys for them,” Hafer said. But this is for a different consumer, and few companies can afford to snub them, with sales of more than 5 million cases and climbing.

Even bourbon bars have come to see the fiery light.

Justin Thompson, co-owner of Belle’s Cocktail House in Lexington, which focuses on premium whiskeys, really didn’t plan to serve Fireball and its kin. But the bar owners kept finding empty Fireball minis in the trash in the bathroom.

“If they are going to drink it, we might as well sell it,” he said.

Stephen Rannekliev, an analyst for Rabobank, said there’s a good reason you’re seeing more and more cinnamon whiskeys: Millennials like them.

“Playing to the sweet tooth of millennials is a necessary component of a successful strategy over the long run,” Rannekliev said. “They certainly seem to be more accepting of the fact that they have a sweet tooth. Where older drinkers had one but didn’t want to admit it. … Millennials don’t try to hide it.”

Once one liquor maker found “that sweet spot,” he said, it was inevitable that others would target it, too, and cultivate new customers.

“I can’t tell you how many housewives here in New York, when they go out, they do shots of Fireball,” he said. “For guys, we need to pretend we’re more macho.”

Enter Jack Daniel’s Tennessee Fire.

Brown-Forman president Paul Varga said last month that part of Tennessee Fire’s success seems to stem from consumers’ perception of its “masculinity” and “premiumness,” among other things. It’s priced a bit higher than some competitors, and the company hopes that Tennessee Fire can mimic Tennessee Honey, which hit more than a million cases in sales in less than three years.

And the signs are good: After testing first in three states, then five more, Brown-Forman said this month that sales of Tennessee Fire have been 1.35 times better than Tennessee Honey, without cannibalizing sales of the original Old No. 7 Jack Daniel’s Tennessee Whiskey.

But cinnamon can’t save everyone: Southern Comfort, another big Brown-Forman brand, has continued to struggle and lose market share to other flavored liqueurs. And Brown-Forman is dropping the cinnamon and vanilla flavors of Canadian Mist because they haven’t moved the sales needle.

The successful cinnamon variants find a way to carve a slightly different niche.

Hafer, who said Cinerator sells about 50,000 cases after a little more than two years on the market, has a strategy: Where Fireball is big as the hot bar shot, Cinerator aims to be the take-home shot.

“We place a premium on retail segment, not on-premise. Our focus is on the package store sales, national accounts such as Costco and Sam’s to get it on the shelves, rather than taking an on-premise approach,” he said.

The two brands are similarly priced at retail, about $15, but Cinerator often as a hang-tag offering a $10 rebate on an initial purchase, which makes it competitively priced.

“Our goal is to get in your cart,” he said. “After the initial taste, we think we can win you over.”

Recipes

Cinnamon whiskey is often enjoyed as a shot, but here are some alternatives ways to drink it for your New Year’s Eve party, or any time.

Angry balls

1½ ounce Fireball

1 Angry Orchard Crisp Apple hard cider

Pour Fireball into hard cider; serve over ice.

This recipe is from Malone’s Steakhouse

By the fire’s shine

11/2 ounce rye whiskey

3/4 ounce MB Roland St. Elmo’s Fire

1/2 ounce lemon juice

1/2 ounce almond orgeat

Put all ingredients in a shaker over ice and shake. Strain into an old fashioned glass over fresh ice.

Fireball Jell-O shot cupcakes

For the fireball Jell-O shots:

11⁄3 cup ginger ale

2 envelopes plain gelatin

2⁄3 cup Fireball whiskey

A few drops red food coloring

For the Fireball buttercream:

1/2 cup unsalted butter, at room temperature

1 tablespoon Fireball whiskey

11/2 cups powdered sugar

Pinch of salt

Lightly spray mold with non-stick spray, and wipe excess off with a paper towel.

Pour the ginger ale into a medium saucepan and sprinkle the gelatin on top. Allow the gelatin to soak for 2 to 3 minutes, then begin to heat on low, stirring constantly until gelatin is fully dissolved (about 5 minutes).

Remove saucepan from heat and stir in the whiskey and a few drops of red food coloring. Pour into molds and chill for several hours, or until set.

For Fireball buttercream icing: In the bowl of an electric mixer, beat the butter on medium-high speed until light and fluffy, 2 to 3 minutes. Reduce the speed and add the whiskey, powdered sugar and salt. Increase the speed back to medium-high, and mix until creamy and smooth. Transfer frosting to a piping bag and decorate each shot with a swirl, adding sprinkles if desired. Store shots in the fridge until ready to serve.

Yield: 30 shots.

Buttercream recipe adapted from The Dollop Book of Frosting. From Ericasweettooth.com.

 

Whiskey makers fight fire with cinnamon: Everyone chasing Fireball’s heat | Bourbon Industry | Kentucky.com.

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From Post-it Notes to Pop-tarts, it’s all made in Kentucky | Bourbon Industry | Kentucky.com

Everybody knows Kentucky makes bourbon and Thoroughbred horses. And most folks know about the Camrys and houseboats made here, too. But the state’s 4,000-plus manufacturers make a lot more than that. And these goods are sold all over the world.

According to the Kentucky Cabinet for Economic Development, in 2013 the state exported a record $25.3 billion in goods and services to more than 200 countries. Though numbers for 2014 aren’t tallied yet, through October exports are up 9 percent at $23 billion compared to this time last year, said Joe Hall, Cabinet spokesman. New numbers, which will be released in February, will set a new record.

Here are some of the more unexpected things made in Kentucky, according to the state:

JIF: Introduced in 1958, all JIF peanut butter (now owned by Smucker’s) is made in Lexington. Fun fact: The JIF plant uses 188 billion peanuts a year.

Post-it Notes: Invented in 1968, America’s familiar yellow “sticky note” is made by the 3M Company in Cynthiana.

Bowling balls: Ebonite, Columbia 300, Track, and Hammer brand bowling balls are manufactured in Hopkinsville.

Hot Pockets: The popular snack food is made by Nestlé Prepared Foods in Mount Sterling.

Tiffany engagement rings: Tiffany & Co., in Lexington, produces the classic six-pronged engagement ring and other pieces of fine jewelry.

Truffles: Every guest attending the 86th Academy Awards received a box of truffles handmade by Art Eatables, a Kentucky Proud business in Louisville.

Treadmills and weights: Life Fitness, in Falmouth, makes athletic equipment for all MLB and NFL teams, most NHL and NBA teams, many college athletics programs and the U.S. military.

Reynolds Wrap: All Reynolds Wrap aluminum foil is produced in Louisville, which is where it was founded in 1919.

Playing cards: The United States Playing Card Company, in Erlanger, produces and distributes the nation’s favorite brands of playing cards, including Bee, Bicycle, Aviator and Hoyle.

Disco balls: Ninety percent of all disco balls made in the U.S. are manufactured by Omega National Products in Louisville, which also makes kitchen cabinetry.

Pop-Tarts: The breakfast favorite is made at the Kellogg’s facility in Pikeville.

iPhone glass: The Corning Incorporated plant in Harrodsburg makes the Gorilla glass used in iPhones.

Dixie cups: Dixie cups and plates are made by the Georgia-Pacific company, which has facilities in Bowling Green and Lexington.

L’Oreal: The beauty product manufacturer makes Garnier Fructis, as well as other shampoos and conditioners, in Florence.

Airheads/Mentos: The soft candy and breath mints are produced by Perfetti Van Melle in Erlanger.

Beehive equipment: If you like honey, thank Kelley Beekeeping in Clarkson.

Started back in 1934, Kelley Beekeeping is one of the four largest honey hive manufacturers. The company builds 75 percent of the items used in the honey and bee market.

Fighting rings: Monster Rings and Cages in Lawrenceburg designs and ships boxing rings, wrestling cages and other fighting equipment worldwide. Many famous rings, such as the one in Madison Square Garden, were made in Kentucky.

Fast food bags: Ever order your food to-go? DURO Bag Manufacturing Company, which has four facilities in Northern Kentucky, manufactures paper bags for the food service and grocery industries, including McDonald’s, Wendy’s, Burger King, Sam’s Club, Wal-Mart and Kroger.
Read more here: http://www.kentucky.com/2014/12/21/3605219_from-post-it-notes-to-pop-tarts.html?rh=1#storylink=cpy

 

From Post-it Notes to Pop-tarts, it’s all made in Kentucky | Bourbon Industry | Kentucky.com.

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Policy Changes sought to help first time buyers

Realtors® Call for Policy Changes to Aid First-Time Buyers, Strengthen Housing Market

WASHINGTON (December 9, 2014) – Congress and the administration must address key policy issues in order to facilitate a healthy real estate market that serves current and future homeowners and drives the national economy forward, said the National Association of Realtors® today in testimony before the U.S. Senate Banking Subcommittee on Housing.

“The housing market hasn’t been this unwelcoming to first-time buyers since 1987,” said 2014 NAR Conventional Finance and Lending Committee Chair Mabel Guzman, broker for AT-Properties in Chicago. “Tight credit, high fees and low inventory have combined to make it prohibitively expensive for millions of responsible, creditworthy prospective buyers to own a home. If this is the direction that the housing market is taking, we’re headed down the wrong path.”

While home prices and sales, as well as household wealth, are all up from a year ago, constrained access to mortgage credit for minorities, young buyers, and low-and moderate-income earners remains a serious problem.

Restrictive pricing policies at the Federal Housing Administration and the Federal Housing Finance Agency continue to disparately impact individuals with shorter credit histories and lower down payments, making it harder for them to buy a home.

NAR estimates that in 2013, nearly 400,000 creditworthy borrowers were priced out of the housing market because of high FHA insurance premiums. By lowering its fees, FHA could provide greater access to homeownership for historically underserved groups.

Even traditionally affordable properties like condominiums are out of reach for many home buyers because of purchasing restrictions imposed by FHA and the Government-Sponsored Enterprises. NAR supports developing policies that will provide potential buyers with access to more flexible and affordable financing opportunities and a wider choice of approved condo developments.

“Most urgently, Congress should take action to help all of the distressed homeowners who completed short sales in 2014 by passing the Mortgage Forgiveness Tax Relief Act. This bipartisan legislation will extend an expired provision that has helped millions of distressed American families by allowing tax relief for homeowners when lenders forgive some portion of the mortgage debt they owe,” said Guzman. “If this provision is not extended, hundreds of thousands of American families who did the right thing by short selling their home will have to pay income tax on ‘phantom income.’”

She said NAR will continue to work with Congress and the administration to enact key policy reforms that will have a positive impact on the housing market.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

 

 

Searching for homes is Easy in Kentucky-Shelbyville-Simpsonville

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Don’t want to pack! 10 thing you’ll regret keeping for your next house

Look at an upcoming move as your chance to declutter and start fresh.

After you find your next home with Adam Borders and Keller Williams Realty

Popular wisdom has it that it’s the journey, not the destination, that matters. That aphorism is true in most scenarios — but not when it comes to moving. Whether you’ve inked a lease on a new apartment or closed on your first home, it’s natural to want to skip straight to the part where you kick back and settle in.

But first you have to get yourself (and your stuff) there. Packing up everything you own is stressful, and the task of neatly securing all your belongings can be a sobering affair. You may not realize you’ve racked up 18 novelty coffee mugs until you’re trying to shove them into a single cardboard box.

Store only the keepsakes that really mean something to you and recycle the rest.
Store only the keepsakes that really mean something to you and recycle the rest.

According to professional organizer Ashley Murphy, cofounder of NEAT Method, a move is your chance to declutter and start fresh. Because clients often call on Murphy’s team after a move, she’s well aware of how much the “just pack it and deal with it later” mentality can hinder a chic new space.

“In a home, the goal is to have only what you truly need and use,” explains Murphy. “If your ice-cream maker hasn’t moved from the shelf in two years, why lug it to your new place?”

Point taken. To help you purge while you pack, we asked Murphy to share the things you shouldn’t even think about bringing to your new home.

1. Expired items

Go through everything that can possibly expire — spices, condiments, medications, beauty products — and toss anything past its use-by date. Murphy puts it this way: “If you only used a centimeter off the top of a jar of paprika one time, in one recipe, in 1990, do you really need it?”

2. Well-loved garments

The NEAT Method team coined this term to refer to threadbare and stained clothes that, while once wardrobe staples, are past the point of wearability. Anything akin to “a white T-shirt with yellowed armpits” should go.

3. One-time-only clothes

This includes bridesmaid dresses and even old Halloween costumes. “Many people cling to costumes, even though they go as something new every year,” says Murphy. If you won’t realistically wear something again, it belongs in the charity pile.

4. Repeat offenders

Do you have 20 black tank tops? Six wine openers? You might not realize it until you line them all up, but this is the time to take stock of duplicates and narrow your supply.

5. Trivial keepsakes

Murphy is often surprised to see how many people won’t part with old greeting cards and wedding invitations. Store only the keepsakes that really mean something to you and recycle the rest.

6. Pens and pencils

“I’ve come across households that had unknowingly accumulated enough writing implements to supply a school of 300 students,” says Murphy. Keep just a few and ditch any others that pop up in random drawers and storage bins as you pack.

7. Unused gadgets

Think about how many times you’ve used your small appliances and gadgets (the aforementioned ice-cream maker, panini press, waffle iron). Once, twice, or never? Say goodbye. If you don’t use it in your current home, you probably never will in your new one, either.

8. CDs

A digital music library lets you keep all the tunes you love but takes up virtually no physical space. Murphy suggests hiring a TaskRabbit to do the legwork of burning discs for you. A few hours and a few bucks later, and the deed is done.

9. Old magazines and books

This one is obvious, but it makes such a difference in lightening your load. Donate anything you’ve already read (along with anything that’s sat unread for ages) to a local library, nursing home, or family shelter.

10. Borrowed goods

Designate a “returns” bin as you pack, and throw in anything (books, clothes, pots, pans) that should go back to friends and family. “In going through clients’ homes, I can’t tell you how often I hear, ‘This belongs to so-and-so,’” says Murphy. “Before you move is the best time to actually make those returns. If you don’t do it now, you’ll forget.”

– See more at: http://www.trulia.com/blog/10-things-youll-regret-packing-next-move/#sthash.4dED486O.dpuf

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