$8,ooo Tax Credit for First Time Home Buyers

The $8,000 tax credit for first-time homebuyers has been extended to June 30, 2010. Also, a $6,500 tax credit is available through June 30, 2010 to buyers who have owned their principal home for five of the past eight years.

For both the extension for first-time homebuyers and the new $6,500 credit, real estate contracts must be signed by April 30, 2010.