The Times Journal & Russell County News
Wednesday, Apr. 23, 2014 — RUSSELL SPRINGS & JAMESTOWN, KENTUCKY — russellcounty.net
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Tax credits still available for home buyers
In Dec. 10 Issue

Housing market appears to be taking a turn for the better. Most all reports show home sales are on the increase although the value of these homes are still estimated below the previous highs.

Nationally home sales are increasing and locally it appears to be following about the same rate. Homes priced below the $120,000 range are seeing the greatest increase while higher priced homes are still very sluggish.

Tax credits are still available for first time home buyers, up to $8,000.

The Worker, Homeowner-ship, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. The tax credit now extends to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.

While we are also involved in the real estate market we will be glad to assist with what information we have concerning first time home buyers.

One new incentive many may not be familiar with is a new tax credit program for the home owner wishing to sell their present house and buy another.

A new program has established a tax credit of up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 (or purchased by June 30, 2010 with a binding sales contract signed by April 30, 2010).

While this is called a “move-up” program, the price of the home does not have to increase over your present home. You must have lived in your present home for at least 5 of the past 8 years.

We will be glad to share what information we have about these programs, call us, David Davenport at 866-1107 or email us dd@lakecumbeland.com and we will forward you these federal guidelines to you.

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The Times Journal is a weekly newspaper issued on Thursdays. It was first published on October 13, 1949, by Andrew J. and Terry Norfleet.
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P.O. Box 190
120 Wilson St.
Russell Springs KY 42642
Phone: 270-866-3191
Fax: 270-866-3198
Russell County News is a weekly newspaper issued on Saturdays, and is mailed free to every address in Russell County, Ky. It was first published on February 1, 1913.
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404 Monument Square
Jamestown KY 42629
Phone: 270-343-5700
Publisher:
David Davenport
(publisher@tjrcn.com)
Managing Editor:
Greg Wells
(editor@tjrcn.com)
News & Sports Editor:
Derek Aaron
(sports@tjrcn.com)
Advertising Manager:
Stephanie Smith
(ads@tjrcn.com)
Business Manager:
Kim Haydon
(business@tjrcn.com)
Production Manager:
Renee Daffron
(people@tjrcn.com)
Jamestown Office:
Kim Graham
(rcnoffice@tjrcn.com)
PUBLIC MEETINGS
Members of the public may attend meetings. Boards or agencies may schedule other meetings at special times, but are required to notify the public.
FISCAL COURT: 2nd Monday of month, 6 p.m. in the Courthouse
RUSSELL SPRINGS CITY: 2nd Thursday of month, 6 p.m. in the City Hall Municipal Room
JAMESTOWN CITY: 3rd Thursday of month, 6 p.m. in basement meeting room at City Hall
SCHOOL BOARD: 3rd Monday of month, 6:30 p.m., Board of Education office in Jamestown
LIBRARY BOARD: 2nd Tuesday of month, 5 p.m. at Jamestown Library
AIRPORT BOARD: 1st Tuesday of month, 5 p.m. at Airport
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CHAMBER OF COMMERCE: 3rd Tuesday of month, noon at The Cove restaurant
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