I know, I know, you have heard a lot about the Home buyer's Tax Credit blah, blah, blah. You may even be mulling over the thought in your head about taking advantage of it. If so, I would ask "what are you doing about it NOW!"

While I am not a hurry up and rush kind of a gal, it is important to remind everyone that the Tax Credit REQUIRES that you be under contract on a home by April 30, 2010 - that is just next month. If you want to be under contract, this means you should probably start lining up financing and beginning your search soon. Especially in the First Time Home buyer's market, I am seeing homes that are priced to sell - selling quickly.

If you are an existing homeowner and want to take advantage of the $6500 Tax Credit, you may want to sell and have your existing home under contract before you look. This is not a requirement of the Tax Credit. It states that you must have lived in your current home as your principal residence a consecutive 5 of the last 8 years. The home you purchase must then become your primary home of residence.

A good, and detailed resource is an IRS publication , you may also want to contact your accountant for specifics. You can also check out my Tax Credit Section in my website for other resources and links.