Kathy Jackson

Welcome to 2012! The New Year is a great time to make a fresh start! As your Henderson, KY real estate agent, I’d like to share some information that could help everyone improve their credit score.

Good credit is a must these days, whether you are buying a home, looking for a job, or applying for insurance. A good credit score can open doors; a weak credit score can be a barrier to opportunity. Sometimes the only thing holding buyers back from the Henderson, KY real estate market is a mortgage approval.

Also, small improvements in your credit score can add up to big savings on mortgage loan interest! If you are buying a home in the Henderson, KY area, checking your credit now could save you hassles down the road. Here’s how to start:

Pull a copy of your credit history from annualcreditreport.com. This is the official website of the credit industry; beware of substitutes! You can also pull the score itself by visiting MyFico.com.

Check your credit history for any errors. Keep in mind that a debt can be sold from one company to another; read your history carefully to make sure dates and balances match up. Be on the lookout for debts that do not sound familiar; identity theft can happen to anyone.

If you find an error, file a dispute directly with the credit bureau. You will need to back up your case, so be ready to supply proof of payment or other facts that support your dispute. It can take a few weeks for a correction to be processed on your credit report.

If you are having trouble managing your debt, don’t be afraid to ask for help! The National Foundation for Credit Counseling can refer you to an approved, trustworthy credit counselor. Avoid quick-fix promises that you may find advertised on the internet; you could be snared by an expensive scam.

Having your financial house in order will help you accomplish home ownership or any other goal you may have. I would be pleased to help you become a Henderson, KY home owner! I have helped many Henderson home buyers find the best property to match their needs and budget. Contact me for the latest Henderson market information!

Wishing you all the best in 2012,

Kathy Jackson
RE/MAX Superior REALTORS
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Kentucky HB 78 - Let's just REALLY screw up the Kentucky Real Estate Market!

Seriously, I am really ticked off about this bill.  In a nutshell, this bill would allow the state to TAX REAL ESTATE SERVICES.  It expands the sales and use tax base to include certain services including those related to a real estate transaction and the rental of commercial real estate.  So, what types of services could/would they tax?  Well, think of all of the services related to a real estate transaction: appraisals, title work, home inspections, title insurance, transfer fees, commissions, etc. How much? Well, my interpretation is that it will be the same as any other sales tax - 6%. Now, the only good thing about his bill is that the current tax of 6% would be reduced to 5.5%.

So, who do you think is going to be paying all these additional taxes? Well, in the end, the consumer. We are already seeing appraisal fees that have gone from $300-ish to over $500. Where will it end up if this Bill passes?  What about the cost of inspections? Typically they are $250 - $300 in this area; will these fees also go up?

I understand that the supposed purpose of the bill is to generate more income for the state, but, in the long run I truly believe they will be cutting their nose off to spite their face.  This bill will not only cost buyers more money, but also all of the hardworking folks related to and in the real estate industry.

So, what can we do?  Well, a start is to contact your representatives and protest - LOUDLY! I plan to post information on TWITTER, FACEBOOK, and, of course, MY BLOG.

Please, don't sleep on this one folks, then turn around and whine about it when it's too late!!

UPDATE - Just an FYI, this tax is not just geared toward real estate services.  This will also affect any services you use: heating & air conditioning, plumbing, accountant, hair dresser/barber, and DAY CARE!!