Just under the wire, legislation is about to be enacted to extend the First Time Home Buyers Tax Credit which was to expire November 30th. This is great news for First Time Home Buyers, but also some who currently own a home.

The NEW bill includes not only an extension of the $8000 for homes to be "under contract" by April 30, 2010 but a $6500 incentive for existing home buyers. If you have owned your home and lived in it for five of the last eight years, you may qualify for this Tax Credit!

So what does this mean to you?

• If you are a First Time Home Buyer (haven't owned a home in the last three years by definition) and haven't found that perfect home yet, keep looking!
  
• If you have lived in your home five years and would like to down size or upgrade, you can now benefit from a $6500 credit.
  
• Contact me today and see what properties are available.

For more detailed information about the Tax Credit follow this link from the National Association of Realtors (here)