Kim Soper

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

). $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!

It’s time to come home for the holidays! But is your home ready for the holiday sell season? Just because people are busy shopping, planning holiday parties, baking and spending time with family and friends, does not mean they are too busy to purchase a new home for the holidays! That is definitely good news for you sellers! There are thousands of buyers nationwide who will be buying a home during the holiday season.

These buyers are highly motivated due to job transfers and some will be relocating to the Central Kentucky area and to the City of Lexington. These transferees can not wait until the spring to find a home. Chances are, if they look at your home and like it, they will be quick to bring an offer to purchase. Here you will find the Top 10 tricks of the trade to get your holiday home sold!

1 . First impressions count year around. But with the cold weather here, those impressions are more important than ever before. Keep the driveway, sidewalks and entry ways to the home clean from snow and ice. You certainly don’t want to be known as the home where the buyer slipped and fell before making it inside. Trust me, buyers see a lot of homes and they will remember you as that home. So throw on your winter coat, gloves and put in a little elbow grease in beforehand and I promise you, your hard work will pay off!

2. Having doormats are key. Place a mat outside the front entry, inside the front entry and in the garage. Don’t forget the basement door and patio door. This will save your floors and keep them clean longer.

3. Leave lights and blinds open. Do not use candles that will be unintended. It is simply too dangerous. Same goes with a fireplace. Looks nice, but it will be unintended. I love going into homes that have a combination of overhead lighting and lamps because it gives the rooms a very warm feeling. Bottom line: use every light source possible.

4. Yes, you want to project a bright and airy home, but turn off those holiday lights. You don’t want buyers to focus on your decorative décor. You want them to see your home and its benefits. Colorful holiday lighting is too distracting even to the most focused home buyer.

5. Keep holiday decorations to a minimum. You may have a lot of homemade ornaments, but go ahead and just pack them away to use at your new home next year. Pack now and have less to do when you move. You will be very thankful later!

6. Remove all religious items. It may offend someone if they have different religious beliefs.

7. Make sure you don’t have presents under the tree. This may sound silly but presents can sometimes be too tempting for children and even adults.

8. Scents are important and will lure buyers through the house. A nice cinnamon, vanilla, or pumpkin scent reminds buyers of holiday gatherings. Just don’t over do it. Febreze has a new dual scent plug-in that will rotate between two scents. Try it! Or fresh flowers on the table will work just as well.

9. Make sure to de-clutter your home. During the holidays, we sometimes like to stuff even more in our closets. Go ahead and clean them out and use a storage facility to hold those extra items. Better yet, donate those unused items to a local charity or a shelter. They will be grateful for your donation.

10. Try not to delay a buyer from seeing your home. If you are having a holiday gathering, make sure to let your agent know in advance. If you must delay a buyer, try not to for too long. This may be the only chance the buyer has to see your home. Again, buyers this time of the year are working on tight deadlines. So remember, if a buyer calls just a few days before the holiday, they are a very serious buyer! It just takes that one special buyer who sees your home as the ultimate present!

Those are just 10 tips for selling during the holiday season. For more valuable selling tips and seller insights, visit my Lexington, Kentucky Real Estate website. Of course, I would also be happy to make a visit to your home and give you a more personalized overview. Contact Me anytime via phone, text or email. And to find your new dream home, check out my dream home finder.

Reporting live here in Lexington, Kentucky, your LexVegas Blogger, AKA http://www.kimsoper.com/! When you think of Real Estate, think www.KimSoper.com and let's get started today! -Kim Soper

Today is Black Friday 2008! Oh, the madness that comes along with today. It feels like National Door Buster Special day! Shoppers hop in lines during the wee hours of the morning, or even camp out the night before. If you ask me, it's simply crazy...but exciting at the same time! But what do all these bargain hunting buyers have in common? Besides getting a bargin on anything and everything, they usually have one red-hot ticketed item at the top of their wish list. Have you ever waited in line all night? You're freezing to death and burning up your Blackberry minutes chatting away to kill time. Then finally it's time for the doors to open! You roll into the store only to find you were merely seconds away from getting your frostbitten hands on your prized possession! You're heartbroken and exhausted, and it's not even 5 a.m. yet! Frustrating huh?

Okay, how would you feel if you found your dream home, the home you've waited for months to hit the market? Excited right? It's the place you truly can't live without! So you call your Realtor only to hear them say: I'm sorry it's already sold! You're heartbroken and frustrated once again! Hello Black Friday, hello to missing your dream home!!

My clients and I don't miss those dream homes! In fact, most of the time, we are the first ones in to see a home as soon as it hits the market! We are the kings and queens of securing the door buster specials! That's because I offer my clients a service called the Home Buyer's Scouting Report (HBM). This free-to-you service matches your personal home search criteria with properties that are currently listed for sale and in your price range. It's online...available 24/7. At your convenience, you login in with your private password and view all the homes, pictures, prices, addresses, directions, maps and more. You have total control over your search; you can create a very specific search to focus on a certain neighborhood or broaden your search area to include the entire city, or several cities. You also have the ability to save a property to a notebook to review later for easy reference and will receive updated information on those properties.

Many busy homebuyers have heard about a great property only to find that it had already been sold! Just ask my buyer's Michael and Sara. A home in a downtown Lexington neighborhood hit the HBM Scouting Report at 3:00 p.m. on a Wednesday and an hour later we were in the home and made an offer! They were so happy we had the upper hand. In fact, there was a great deal of interest on that home. And in case our home inspections did not pass our standards, there was another buyer waiting on the sideline to get their hands on Michael and Sara's dream home! The home received a clear bill of health and Michael and Sara are still counting their blessings everyday that they secured their dream home!

With the HBM Scouting Report you can receive daily updates on new listings and best of all, there is no obligation! Truly, you will fall in love with this service and it will allow you to get a real sense of the current housing marking in the privacy of your own home. Whether you are looking to buy a new home soon or just thinking about a new home; I believe this is the best home finding service available and as a preferred costumer, I would like you to know about it. So throw on your pajamas, login and start shopping online!

If you are interested in learning more about the Scouting Report, please click here to see a video demonstration on how this tool will benefit you. Feel free to call/email/text and I will be happy to answer any questions. If you know of someone, who might benefit from the Scouting Report, make sure you tell them to visit my website at: http://www.kimsoper.com/ to sign up!

Looking forward to house hunting! -Reporting live here in Lexington, Kentucky, your LexVegas Blogger, AKA www.KimSoper.com

Autumn is a wonderful time of the year and one that many Lexingtonians agree is the most beautiful season in the Bluegrass state. Lush fall foliage dazzles us with its splendid hues - everything from golden yellows, sage greens, and brilliant reds. With the "Dog Days" of summer now far behind us, Lexingtonians are eager to get out and enjoy the cool, crisp weather and take part in many of the exciting events happening in and around Lexington. I welcome you to explore these top 5 recommendations for this exciting season:


1.) Keeneland Race Track
Lexington's thoroughbred race track has two meets per year - the Spring and Fall - in addition to several horse sales, attracting high profile celebrities and international royalty seeking to invest in Kentucky's famed horse racing tradition. During the Spring and Fall Meets, spectators enjoy festive "Sunday Best" attire, gathering to socialize and enjoy the spirit of the races. Don't forget to arrive early to witness the horses´ morning workouts, enjoy a Keeneland breakfast worthy of a champion, or to tailgate with family and friends under a canopy of lush maple and oak trees. Keeneland is not just locally famous - Hollywood has recently featured the historically-rich race track! Almost all of the scenes in the movie Seabiscuit were shot on location, with many Lexingtonians serving as extras in the film!



2.) Tradition of Kentucky Sporting Events
Kentucky is a HUGE sports-minded state - so much so that it truly is a way of life! The onset of fall brings excitement and energy throughout the Bluegrass state, as die-hard Kentucky fans gear up for another intense season of UK Athletics. The Kentucky football and basketball programs enjoy hundreds of thousands of true-blue fans. Kentucky is a member of the Southeastern Conference, considered to be the most intensive football conference in collegiate athletics. Students, alumni, families, and friends have tailgating down to a science! Beer cheese, fried chicken, barbeque, and an array of Southern-style favorites are found at nearly every tailgating stop outside the stadium. The Kentucky basketball season is marked by the opening of Midnight Madness in mid-October. Kentuckians literally camp out weeks before the event in order to increase their odds at snagging prized tickets to the very first basketball practice of the season. This special event draws over 24,000 screaming fans packed into historic Rupp Arena to root the Wildcats into the start of another highly anticipated National Championship run.



3.) Autumn Festivals around the Bluegrass Region
If you love road trips - and who wouldn't with Kentucky's beautiful fall foliage! - and enjoy a true festival experience, Kentucky has everything you could hope for in and around Lexington! From arts and crafts to music, history, and cars you will surely find something to peak your interest! Enjoy the Master Musicians festival or Somernites Cruise in Somerset, Harvest and Wine Festival in Nicholasville, Berea Craft Festival in Berea, Festival of the Bluegrass in Lexington, or even the Woolly Worm Festival in Beattyville - an event where you actually race woolly worms as a highlight of the fall season! Wherever your interests may lie, you're sure to be pleased with fall in the Bluegrass state!



4.) Lexington Gallery Hops
Lexington takes pride in its rich arts and cultural scene and encourages its patrons and visitors to experience genuine, original works of art by hosting the famed Gallery Hops on five select Friday nights throughout the year. Now in its second decade, the Lexington Gallery Hop is a fun-filled evening of art exploration - touring museums, artist's studios, and galleries in downtown Lexington - and is perfect for art collectors, connoisseurs, or simply the curious to experience this exquisite and sociable event in Lexington.



5.) Boyd's Orchards and Kelley's Corn Maze
A true tie if ever there was one, Boyd´s Orchards and Kelley´s Corn Maze are two Kentucky fall traditions definitely worth experiencing! At Boyd's pick your own fruits and vegetables while the children are entertained on the large playground. Stop in for a quick snack or delicious dessert at the Apple Blossom cafe or enjoy shopping in the unique gift shop. The children are sure to enjoy the hayrides, animal center, corn maze, and "pick your own" pumpkin patch! Boyd's is also home of the "Seven Festivals of Fall." At Kelley's Family Farm, you're sure to be entertained! From the moment you enter the 8-acre corn maze, you'll be immersed in history! Each year, the Kelley family selects an important figure in Kentucky's history to mold the maze after. For the Fall of 2008, former U.S. President and Kentucky-born Abe Lincoln was the feature design of the maze. Kelley's Farm offers both day and nighttime maze excursions! In addition, you will find pumpkin patches, fresh fruits and vegetables, and lots of other fall favorites and treats! Hayrides, corn hole games, and the new hay pyramids are just several more fun fall adventures waiting for you and your family to explore!



If you would like more details on exciting events and happenings in the Lexington area, I am just a click of the mouse away. Shoot me an email or call me. I will fill you in on my wonderful city! Get out there and enjoy our beautiful state! And as always, I am always here to assist you, a friend or a family member with their real estate needs! - Reporting live here in Lexington, Kentucky, your LexVegas Blogger, AKA www.KimSoper.com