Congress voted and the president signed the extension of the "Homebuyer Tax Credit". It now official as of November 6, 2009.
This "Home Buyer Tax Credit" bill was also changed to include current homeowners who has resided in their home for the past 5 years or more. If you were considering selling you home and buying a bigger (or smaller) residence (which includes Condominiums and Co-ops) you will now receive a $6,500 tax credit providing you meet the income limits.
First time buyer (anyone who has not owned a primary home in the last three years) will still receive the $8,000 tax credit.
Congress also increased the income limits so buyers who previously did not qualify now can get their tax credit!!
If you have any questions on this or any real estate matter please feel free to contact me.