In an effort to get the economy in an upward flow the government is realizing the housing market should lead the way. This is a clear message that the housing market leads the economy in such as way that if we do not get the housing market on it’s feet then everything stays in this holding pattern and waits. To get this going the government is offering a tax credit to first time home buyers as well as those potential buyers that have not owned a home for the past 3 years. These individuals may qualify for a $8,000 tax credit. This should get the potential home buyers that have been wanting to buy but were not sure when the best time to buy is at the buying table. This tax credit program has been extended to include another large group of potential buyers and those are the ones that have lived in their current homes for the past 8 years consecutively. They may qualify for a $6,500 tax credit. This is an important group of potential buyers to not leave out. This group will include many families that are looking for a bigger home due to a growing family as well as the families that are needing to downsize due to children moving out on their own. This group is a big buying power group. This extension of the tax credit program should help to give the housing market the boost it will need to move forward in a more positive direction. You have to have a written contract by the deadline so you need to act now.

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