5 Most Talked About Homes for Sale in Lexington, Kentucky!

One of the most exciting parts of my job as a Realtor in the Lexington Kentucky real estate market is having the opportunity to explore first hand some of the most spectacular and priciest homes in the Lexington area. It seems like several times a week, someone will ask, “what is the most expensive home you have sold or been in?” Those are always fun questions because who doesn’t appreciate seeing a home so unique, that describing it truly seems like you are stepping into a fantasyland! As of today in Lexington, we have 49 homes on the market that are priced at one million and up. With our strong ties in the horse industry, some of the most notable farms on the gently rolling Bluegrass also feature some pretty cool home cribs! We have spectacular homes all over the Lexington real estate area, including smack in the middle of downtown Lexington and homes just minutes from major shopping districts and entertainment venues. I have explored many homes during my real estate days, but here are my Top 4 runner ups to the Lexington, Kentucky Most Talked about homes currently available in the Lexington, Kentucky real estate market.

5. West Second Street - Downtown Lexington, KY - $975,000

Anytime I see a historic landmark where a dedicated seller has taken the time and effort (and expense) to preserve a piece of our local history, they will always receive my stamp of approval. It is always more of a challenge restoring a home well over 150 years old. So many additional renovations costs…and of course bringing the home up to current building code on electric, plumbing and technologically, all comes with a hefty price tag. The end result is Wow!! This home located just Two blocks from downtown Lexington and a stone throw from the nation’s 16th oldest university, Transylvania University, is close enough to enjoy the city lights and
nightlife, but it is still far enough away that it is tucked into a tight knit downtown historical community. Built in 1839, this Greek revival recently underwent a 2 year renovation by a well know British architect. As the seller notes, “this home exhibits a modern sensibility and a concern for historic authenticity.” Without a doubt, the seller hit the jackpot with that statement. All parties involved in the historic preservation of this home made sure to incorporate all aspects, from the basic foundation, all the way to the top design layers to create a beautiful look on a classic piece of history. It is also unique to see a beautiful backyard with a sprawling swimming pool tucked in-between all the large historic residences. Truly a neat place to see! The historical significant and the dedication to preserve one of the true downtown gem’s in the Lexington real estate scene gives it a spot in the Top 5 list. Listing Office: Turf Town Properties

4. Lexington’s Prestigious McMeekin Place - Listed at $3,257,000


This stately Georgian home features 6 bedrooms and 10 baths and underwent a complete renovation that span over 2 years. Most Lexington residents will remember this home as the Lexington real estate stopping ground of former University of Kentucky basketball coach Rick Pitino. This fine Bluegrass estate, located on the crisp of Lexington’s sought after Chevy Chase neighborhood, features all the finest in amenities, including Leininger cabinetry, Amish rift sawn white oak floorings with brass inlay, the absolute finest in marble and granite, a theater room and an inground pool and pool house. It has been sold a few times since the post-Pitino days, but I foundly remember when Pitino called this place home before he split to the Boston Celtics in 1997. I remember reading an article in the Lexington Herald Leader which stated basketball fans would cruise by this home and collect a dirt sample from the front yard. Based on that alone, you know this place deserves a spot on my Top 5 list! Listing Office: Prudential A.S. de Movellan

3. Lexington’s “On the Rocks,” estate - $4,800,000

Located on 9 private acres less than 2 miles from Man O’ War (yes that close) is Lexington’s true home of entertainment. My good real estate friend Kassie is showcasing a home with all the comforts of yesteryear intertwined with today’s added amenities. On the rocks boast over 12,000 square feet of living space. Featuring 5 large bedrooms, a private fitness room, sauna and theater room with stadium seating, you would think you are in heaven. But hey, heaven’s great, but how about some paradise too? Okay, here you have it! How does an indoor swimming pool sound? Throw in his and her kitchens, a 2,000 square foot patio space, a 2-story waterfall and you will quickly see that the seller’s have built a special palace for entertaining like no one else in town! Let no mistake be made, On the Rocks is your premiere Lexington real estate for of your future entertaining. Listing Office: Rector Hayden Realtors, South

2. 4895 Buggy Lane - Horse Haven Farm $2,895,000

Here, a traditional Horse Haven paradise meets modern technology to the max! This first-class operation spans 20 acres, featuring a 5,320 square foot house and a 6,000 square foot heated and cooled barn. Yes, that is right, heated and cooled! And what a barn it truly is! Both the barn and the spacious home were masterfully planned by the sellers. Each and every detail was given the fullest attention making this showplace a true gem! Even right down to the soil! The training arena consists of a 6 inch base of glass ice sand, followed by 4 inches of imported Brown River sifted sand. The animals on this farm have all of the finest in care and living amenities. Here, at Horse Haven Farm, the horses are not the only ones that enjoy the finest in luxury living. Aside from the barn being highly technologically equipped, the home boast the same. You will find CAT 3, 5E and RG6 lines, a 7-zone Elan system, several geothermal (in home and barn). In the event you are away from the home for the day, rest assured you will be able to check on your home and horses, via the Internet 24/7. Numerous security cameras are found on the property, including a camera mounted above each stall to allow you constant monitoring of your horses. If you are a tech guru, come see this place today! Horse Haven Farm would even make Bill Gates do a double take! Listing Office: Keller Williams Bluegrass Realty -Kim Soper

Well, that completes our list (spots 2-5) of the most talked about homes in the Lexington Kentucky real estate market. Next week, look for THE #1 most talked about home for sale in Lexington! Did you see something of interest worth taking a peak? Or are you looking for something more specific? Either way, I can help find your Lexington Kentucky home. Whether you are searching for a turn-key horse operation, a dream estate or simply farm land, I am your number one real estate partner. As a Lexington native, I know the ends and outs of the Lexington real estate market and specialize in the beautiful horse farms or fine estate homes. Contact me today and let’s customize a plan of action to help you achieve your goals.

Reporting live and wishing you all my best in beautiful Lexington, KY, your LexVegas Blogger, AKA http://www.kimsoper.com/. - Kim Soper.

How to use the new $7,500 tax credit to save you THOUSANDS of dollars!

It seems like several times a week, I have a buyer who asks about the $7,500 tax credit from the government. They are wondering if it is a loan or a gift? It is a loan, but it is a good loan to utilize if you are a buyer. Basically, the government will give you the 7,500 tax credit and in return over the next 15 years, you will pay them back $500.00 per year. Now, I know it’s never fun to have an extra expense at tax time, but I am going to tell you the biggest benefit of this tax credit. If I were in the shoes of a first-time home buyer, I would take that $7,500 credit and apply that directly toward the principle portion of my home mortgage. By doing so, you will save yourselves over $20,000 in interest over the life of the loan. Sounds like a pretty good savings, right? It truly is! So you could even look at this credit as a gift. I do! If someone is going to help me save 20,000 or more...I am thrilled! Below you will find some commonly asked questions regarding the tax credit:

Tax credit offered to new homebuyers
Expires June 30, 2009!

1. Who is eligible?
a). First-time homebuyers or any homebuyers who have not owned a principal residence in the last three years

2. How does it work?
a). Eligible purchasers can claim the $7,500 credit on their annual tax return form.

b). Amount of credit: 10% of cost of home or a maximum of $7,500

3. How is it repaid?
a). Two years after the credit is claimed, the homebuyer will have to start paying it back.

b). 15 equal annual installments will have to be paid back to the IRS every year.

c). 6.67% of the borrowed amount or a maximum of $502

d). If home is sold before 15 years, the remainder of the loan will have to be repaid to the IRS upon the sale.

e). Part of the liability can be forgiven if the gain on the sale is less than the amount of the loan.

4. What are the restrictions?
a). Home purchase time limit:

b). Homes purchased on or after April 9, 2008 and before July 1, 2009

c). Home must be a single family residence (including condos, coops) that will be used as a principal residence.

d). Home must be located in the United States.

e). Home cannot be financed through mortgage revenue bonds.

f). Income restriction: To qualify for full $7,500 credit, the taxpayer must make no more than
1). $75,000 for single returns
2). $150,000 for joint returns

g). To still qualify for credit but at a lesser amount, the following income caps apply
1). $95,000 for single returns
2). $170,000 for joint returns

For more information on the tax credit:

http://www.realtor.org/gapublic.nsf/files/hbtaxcreditqa2008.pdf/$FILE/hbtaxcreditqa2008.pdf

http://www.federalhousingtaxcredit.com/faq.php


When you are ready to home shop, call me! I am your home shopping expert. With the tax credit and record low interest rates, the buyers are in the driver’s seat. Truly, this is the best time in history to purchase a home. Don’t miss out! Let’s get started today and you will be on your way to buying a home and saving a great deal of money in the long run! For more helpful tips, check out my buyer‘s section on my Lexington, Kentucky Real Estate website. Did you know that it costs you nothing to have a buyer’s agent? Yes, that is right! I will be your professional guide throughout the entire process and it does not cost you a single penny! I, Kim Soper, will take great care of you! Go get your $7,500 15-year interest free loan from the government and score the home of your dreams!

Reporting live here in Lexington, Kentucky, your LexVegas Blogger, AKA KimSoper.com!