U.S. SENATE PASSES EXPANSION OF NEW HOME BUYER TAX CREDIT

Amount: $8,000
Who: First-time home buyers same as current law

Time Frame: December 1, 2009 to April 30, 2010
(including a 60 day extension if binding contract by April 30)

They also passed a $6,500 tax credit for repeat purchasers as long as the previous purchase was used as there principle residence for 5 of the previous 8 years. The U.S. House has yet to vote but this looks like good news for both buyers and sellers.

They won't extend this forever so if you have been on thinking of buying but waiting for the right time to buy this is it. don't miss out on this opportunity