Happy Holidays from KimSoper.com!

In real estate, growing and maintaining strong relationships is the key to successful selling. I enjoy working with Lexington Kentucky real estate homeowners over time. Throughout their lives, I stand by my clients, ready to help them as change arises. If you or someone you know is thinking of buying, building or selling a home, in the Lexington real estate area, call me or visit my website today for expert guidance. When you think of real estate, think KimSoper.com. Happy holidays to you and your family! -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!

Reporting live in Lexington, Kentucky

Greetings from the Horse Capital of the World!

I would like to say ‘thank you’ for stopping by and reading my very first blog posting! Today is a perfect day to write, especially since it’s getting really cold outside (hello, winter!) and I would much rather stay warm indoors and chat with you :) It’s a quiet Sunday for sure, wrapping up a less than stellar week from our University of Kentucky basketball team. Our Wildcats did grab their fist win of the season on Saturday in Lexington’s historic Rupp Arena, but I am still not sure that was enough to ail our broken hearts over the lost again rival North Carolina earlier in the week. Don’t worry, though…I’m sure our Cats will rebound over the next few games!

Yes, I bet you can already tell, I am a huge Kentucky Wildcats fan. Most people who live here in Lexington, Kentucky are! But I am also a big fan of the city of Lexington! That’s why I would like to dedicate this blog primarily to the topics of Lexington Real Estate (where I live and sell homes everyday) with special emphasis on the Bluegrass Region. And also fun events and special happenings around the city. This will be told through a completely candid perspective, but will hopefully offer some really cool facts, sound advice, and valuable insights.

If you have ever thought of buying a home, but the actual process frightens you, then sit back and relax. In fact, make sure to bookmark this site as your ‘go-to’ destination for all things Lexington, Kentucky Real Estate. I’ll tell you all about my role as your Realtor and what that specifically means to you. You will soon see that buying a home is not frightening, but very liberating, instead. Once you know what to look for and are educated on the process, it can be a very fun and rewarding opportunity for you and your family! We will cover the basics on what to do once you see your dream home in a magazine to actually buying the home, including such things as the tax credits of homeownership and all the ‘do’s and don’ts’ of financing.

If you are a seller, check back frequently to read about such things as how to obtain top dollar, all the secrets to selling your home quicker and to maximize your leverage in a down market, as well as utilizing the internet for a quicker sale.

If you’re wondering just who I am exactly, let me tell you a little bit about myself! I am a true native of Lexington and LOVE this city! In fact, I plan to never move away! I graduated from Transylvania University with a BA in Business Administration and worked in media and public relations immediately afterwards. However, I always knew that one day I would be calling the neighborhoods of Lexington 'my office.'

Today, I work for Keller Williams Bluegrass Realty and for years now, I have been selling homes in Lexington, KY and the surrounding areas of Versailles, Paris, Georgetown and the entire Central Kentucky region. I specializing in helping first-time homebuyers achieve the American dream. Additionally, I work with horse farm owners, home sellers, investors, and anyone who needs help with real estate. And yes, I have won several Realtor awards, which I will not bore you to death about the details, but just always remember that I am qualified to help you with any of your real estate needs!So, that said, do you or someone you might know have a burning real estate question? Then send it my way – I’m always up for the challenge! Also, feel free to utilize any and all resources – such as mortgage calculators or listed homes for sale – from my primary website: http://www.kimsoper.com/

Happy reading! I look forward to future times together! -Reporting live here in Lexington, Kentucky, your LexVegas Blogger AKA www.KimSoper.com

When you think of Real Estate, think http://www.kimsoper.com/ and let's get started today!

Kim Soper, REALTOR
Residential & Commercial Real Estate
http://www.kimsoper.com/
Multi-Million Dollar Producer

Relocation Specialist
CMS-Certified e-Marketing Specialist
Keller Williams Bluegrass Realty

2424 Harrodsburg Road, Suite #101

Lexington, KY 40503

(859) 509-8008 cell

(859) 269-0065 fax

kim@kimsoper.com