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Usually Fridays are for fun and I guess today will be fun at some point but for now I have to interrupt my regularly scheduled nonsensical post for News. The big news today is that congress has extended the $8000 first time home buyer tax credit until April 2010 and they have added a  home buyer tax credit of $6500 for those who have owned a home and lived in it for five consecutive years, when they buy another home.  Hard to write but to put it in simple words if you sell your home and buy another you may be qualify  for a tax credit.   I will write more about this next week. Everyone will write more about this next week, as it has not been signed by President Obama yet but he may do that today. Here is a link to a pdf that does a great job explaining who qualifies for the tax credits.

I have already received some emails from clients and other wanting to know if the tax credit will have a positive effect on the housing market. I think it will at least for a short time. Sadly many of the folks who come to me who want to sell their home have not lived in it or even owned it for five years so they will not be able to take advantage of the tax credit.  The people who may be interested in buying the homes that I have on the market right now may be eligible for one of these tax credits and that should help. 

It won't rain this weekend so it might be a good time to go to some open houses.  Some have suggested that it might be a good weekend for yard work.  I like the yard part of that idea but not the work part so much.