Options Realty & Consulting is not just another KY real estate company. We recognize the growing change in the way consumers want & expect real estate services to be delivered and paid for. It is our goal to stay on the leading edge of meeting that expectation. We understand that the "one size fits all" philosophy that real estate agents and brokers have operated under for years, and most still do to this day, no longer works for many consumers in today's market. We take pride in offering experienced, professional, quality services while remaining sensitive to the changing needs of our clients. Our innovative, hybrid approach to selling real estate combines the best of Discount Brokerages & Full Commission Realtors with the freedom of a For Sale By Owner. We believe that an experienced, knowledgeable agent can truly bring added value to the transaction and that is why none of our options will ever leave you on your own.

"The true value of a real estate professional is no longer found in the delivery of data and information but in the interpretation of that data & information" - unknown

Our "Protect Your Equity" programs for sellers & our "VIB - Premier Cash Back" program for buyers both hinge on us working with serious buyers and sellers. It works off of a shared risk model that will literally save our buyers & sellers thousands of dollars.

Please check out our "Seller Options" & "Buyer Options" pages for complete details.

If you still have questions, give us a call.

Office (502)732-9977

Chris D. Hembree (502)693-2334  

agent photo
Chris D. Hembree - Principal Broker/Owner
Cell Phone: 502-693-2334
Email: chris@optionsrealtyky.com

 


Already registered? Login

FREE AUTOMATED EMAIL UPDATES
Sign in to take advantage of all this site has to offer. Save your favorite listings and searches – also receive email updates when listings you like come on the market for free!

*Contact Information NOT Shared*


Testimonials Page

Dear Chris, We can't thank you enough for all the hard work you put into selling our house. The process was very easy and a positive experience on our end. You lead us with good advise from your experience which resulted in a quick sell in a short period of time. I can't say enough but obviously would highly recommend your services to the Great People in Carrollton. S Shelton S Shelton
I gave Chris a call when my fiancé and I decided to purchase our first home. We had no clue about some of the things to look for and he was very informative and helpful. He made sure we took the time to look before we settled, and sure enough we found our dream home. He never once made us feel pressured and kept us informed all during the process. Thanks so much Chris, you are amazing. Will definitely recommend your services without hesitation! K Lawrence
We appreciated the friendliness of Chris Hembree when selling our home. He listened to us and was very helpful through the whole process. We honestly would have been lost in the process if we tried to do it alone. We are definitely going to use Chris when we are ready to buy our next home. Thanks for all your help Chris! M Snow
We just wanted to let Chris know that he exceeded all our expectations of a realtor.  He went the extra steps to find us the house we wanted.  Chris was not like any other realtor we have met. He most definitely had our interests in mind and was not out to make a quick buck by pushing us into anything. He was very patient with us and actually listened to what we wanted.  Not only does he understand real estate, but he is also very knowledgeable in construction and was able to tell us a lot about the houses we looked at and how they were built.  Chris also did a lot of research into the area of the house and taxes. He also helped us find the right financing for the house.  He stayed in contact with us and was with us every step of the way through the whole process of buying a house.  We highly recommend Chris Hembree to anyone looking for or selling a house. He is not like any other realtor we have met, more like a friend.  As long as he is in real estate he will always be our realtor. We greatly appreciate all that Chris did for us.  Thank you for everything.  James and Molly Palmer
First and foremost, I am not the type of person that normally writes reviews. However, this was such a great experience for that I can't not write one. Chris turned out to be a great realtor, a positive person, and, most importantly in this situation, a pragmatist. He always shot straight with us, let us know as soon as there was anything to report, and worked diligently under our (I'll admit it) unrealistic timelines. Here is our story as told by my wife: When the house we had always admired came on the market unexpectedly, we sent an email to inquire about the property. We are so fortunate that Chris Hembree replied. Not only did he show us the house within 24 hours, he listed ours and had it under contract within four days. Chris was very accessible to us and answered all questions timely and was very knowledgeable. It was evident that he worked very hard for us throughout the process and paid great attention to detail, always keeping our best interest in the forefront. Having used other realtors in the past as well as selling on our own, working with Chris Hembree proved to be a great decision. We would definitely hired him again and highly recommend him. jared m kelley
View All

For Sellers

Let us quickly and accurately assess your home's current value.

Free Email Updates

Register now to receive free email listing updates!

Contact Me

Have a question? Want more information? Let's get in touch.

Real Estate News

Latest Realty News from NAR

How much of my income goes towards housing?

With rates rising and home price growth starting to slow, I started to consider how much income is used towards housing in this current economic climate. Mortgage rates are trending upwards to near the highs of 2011 at 4.98 percent, home prices are still rising but at a slower pace, and the median income has been steadily rising although an even more modest pace than house prices. These factors go into how much of a person’s income goes towards housing expenditures and whether housing is a burden for potential homebuyers. This blog will highlight some of the factors and show states and regions where housing is less of a financial burden.

Home Price vs Median Family Incomes

Home prices since 2000 started to outpace incomes but started to turn towards the end of 2007, until home prices plummeted during the Great Recession. In 2008, incomes grew making it favorable for potential homeowners to buy a home. It took home prices about 4 years to recover, beginning in 2012. Around 2014 home price growth began to bloom and once again, prices started to outpace incomes. This pace has continued until recently, as home price growth has slowed making owning a home affordable. As of the second quarter of 2018, family incomes have increased by 52 percent since 2000, while housing prices have increased by 95 percent, or nearly doubled the level in 2000.

Payment to Income and Mortgage Rates

Let us look at the amount of money homeowners had to commit from their income to be able to afford a home. In 2000, when interest rates were 7.90 percent, homeowners had to spend about 19.6 percent of their income to be able to afford a home. In 2006 when rates were around 6.50 percent, homeowners had to spend 22 and up to 24 percent of their income on a home. In the wake of the Great Recession in 2009-2010, mortgage rates started to fall, so the share of income that went to paying a mortgage declined. In 2013 when rates were down to 3.47 percent, the mortgage payment on a median priced home was 11 percent of the median family income, putting less pressure on household incomes. Since that time rates have continued to decline, much to the benefit of potential homeowners. Anything above 30 percent is considered burdensome on households, but below that range would be typically affordable. On a regional level, the West requires a higher portion of your income, which has eclipsed the 35 percent mark. The Midwest, being the most affordable region, requires the least percentage of median family incomes. The Midwest started around 15 percent and, at times, dipped below 10 percent and is currently hovering back around 15 percent.

Payment to Income Ratio

A ratio between 2.5 and 4 is normal and healthy price to income ratio for the housing market. As of August 2018, the median price of existing homes sold was 3.5 percent of the median family income. The Harvard University Joint Center for Housing Studies (JCHS) produced a map showing the US home price to income ratios. The ratios range from under two to over eight. As the map below illustrates, costal markets have much higher ratios, indicating significantly higher home prices compared with incomes. The West Coast region has affordability issues, with several areas posting ratios above eight, including San Diego, Los Angeles and the San Francisco metropolitan area. Small pockets in the Northeast reach above five, mostly clustered around New York City and Boston. The Miami/ South Florida Region also posts low affordability. In comparison, The Midwest region has ratios in the 2-3 range, in line with historical averages.

Jobs Generated vs GDP Growth Rate

The Gross domestic product (GDP) has hovered around 3 percent and has had to withstand the tech bubble, wars and several crises. In 2009, both jobs and GDP took a dive but rebounded the following year. GDP and jobs have grown solidly after the Great Recession. Unemployment has been below 6 percent ever since 2014, which is good for economic progress and potential homebuyers.

Even with rising rates and higher home prices, potential homebuyers have plenty of reason to join the market. Real Estate is still affordable in several states and regions. The job market is strong, GDP is at a healthy level and consumer confidence is high. New homes and existing inventory figures are now improving, although still modestly, but the increase in inventory is helping tame price growth.

August 2018 Housing Affordability Index

At the national level, housing affordability is up from last month but down from a year ago. Mortgage rates rose to 4.78 percent this August, up 14.1 percent compared to 4.19 percent a year ago.

  • Housing affordability declined from a year ago in August moving the index down 8.3 percent from 153.9 to 141.2. The median sales price for a single family home sold in August in the US was $267,300 up 4.9 percent from a year ago.
  • Nationally, mortgage rates were up 59 basis point from one year ago (one percentage point equals 100 basis points).

  • The payment as a percentage of income was down to 17.7 percent this August but up from 16.2 percent from a year ago. Regionally, the West has the highest payment at 24 percent of income. The South had the second highest payment at 17 percent followed by the Northeast at 16.5 percent. The Midwest had the lowest payment as a percentage of income at 14.2 percent.

  • Regionally, the West recorded the biggest increase in home prices at 5.2 percent. The Midwest had an increase of 4.2 percent while the South had a gain of 3.6 percent. The Northeast had the smallest growth in price of 0.1 percent.
  • Regionally, all four regions saw a decline in affordability from a year ago. The Midwest had the biggest drop in affordability of 7.8 percent. The West had a decline of 7.7 percent followed by the South that fell 7.0 percent. The Northeast had the smallest drop of 5.5 percent.
  • On a monthly basis, affordability is up from last month in three of the four regions. The Northeast had biggest gain of 6.2 percent. The South had an incline of 2.4 percent followed by the West with a slight increase of 0.1 percent. The Midwest had the only dip in affordability of 4.8 percent.
  • Despite month-to-month changes, the most affordable region was the Midwest, with an index value of 175.7. The least affordable region remained the West where the index was 101.2. For comparison, the index was 146.7 in the South, and 151.2 in the Northeast.

  • Mortgage applications are currently down. Mortgage rates are still rising along with rents. Foot traffic is up which shows there is interest from future homebuyers. Job creation remains steady and new homes sales are continuing to incline. Home prices are up 4.9 percent outpacing median family incomes that are growing 3.0 percent.
  • What does housing affordability look like in your market? View the full data release here.
  • The Housing Affordability Index calculation assumes a 20 percent down payment and a 25 percent qualifying ratio (principal and interest payment to income). See further details on the methodology and assumptions behind the calculation here.

In Which States Did Properties Sell Most Quickly in August 2018?

In a monthly survey of REALTORS®, respondents reported that properties were typically on the market for 29 days, just a day shorter time compared to one year ago (30 days), according to the  August 2018 REALTORS® Confidence Index Survey.[1] This indicates that in many states, the supply of homes for sale is still inadequate compared to the demand for homes. However, the difference in median days in the current month compared to the same month last year has started to narrow as homebuying demand has eased and the inventory of homes for sale has slightly increased. In January and February of this year, properties were selling about one week less compared to the length of time in the same period one year ago.

During the June–August 2018, properties typically sold within one month in 32 states and in the District of Columbia. Properties sold most quickly in the states of South Dakota (19 days), Washington (20 days), Colorado (21 days), Utah (21 days), Ohio (21 days), Idaho (22 days), Massachusetts (21 days), and Rhode Island (21 days).

 

Based on listing time on Realtor.com[2], properties sold more quickly in 385 out of 500 metro areas (77 percent)—still most of metro areas, but fewer than the number of metro areas that had year-on-year faster selling time in August 2017 (405 metros). Compared to the median days on market one year ago, properties sold more quickly in August 2018 even in the high-price areas of San Jose-Sunnyvale-Sta. Clara, San Francisco-Hayward, and San Diego-Carlsbad.

 

Scroll down the list of metro areas in the interactive table below or hover over the map to view the median number days properties were listed on Realtor.com in July 2018 and one year ago.

 

Fastest-Selling Markets August 2018


About the Realtors® Confidence Index Survey

 

The RCI Survey gathers information from REALTORS® about local market conditions based on their client interactions and the characteristics of their most recent sales for the month. The August 2018 survey was sent to 50,000 REALTORS® who were selected from NAR’s1.3 million members through simple random sampling and to 8,386 respondents in the previous three surveys who provided their email addresses. There were 4,639 respondents to the online survey which ran from September 1-11, 2018. NAR weights the responses by a factor that aligns the sample distribution of responses to the distribution of NAR membership. The REALTORS® Confidence Index is provided by NAR solely for use as a reference. Resale of any part of this data is prohibited without NAR’s prior written consent. For questions on this report or to purchase the RCI series, please email: Data@realtors.org.

 

[1] In generating the median days on market at the state level, NAR uses data for the last three surveys to have close to 30 observations. Small states such as AK, ND, SD, MT, VT, WY, WV, DE, and D.C., may have fewer than 30 observations.

[2] To access Realtor.com data, go to https://www.realtor.com/research/data/.

 

 

View All

Blog

View All