Revised $8,000 First Time Home Buyer Tax Credit

This afternoon, President Obama will sign the economic stimulus bill.  It contains an $8,000 tax credit for first time homebuyers that runs through 11/30/09.  Unlike the previous incarnation of the tax credit, it does not have to be repaid unless the homeowner sells the home within 3 years.  For more details on the tax credit, click here.  Our homes are perfect for first time home buyers and $8,000 is usually enough to cover the buyers' down payment on an FHA loan plus closing costs.