Those of you that have been waiting for an update on the first time homebuyer tax credit, and a possible extension, may be happy to hear that this is all but certain now.

http://www.bloomberg.com/apps/news?pid=20603037&sid=ai5ZNuz56Q4g

The senate will vote next week on the bill but it appears certain it will go through.

Great news for first time homebuyers is that the income limits have been increased from $75,000 to $125,000 for individuals and up to $225,000 for couples.  This will bring more buyers into the market that will be able to buy larger homes and boy have we needed that!

The other great news is that the tax credit is available to to folks who have owned their current homes for more than five years!  This is awesome news and I am sure will help the momentum that have seen house prices climb now for two months in a row.  The amount for this category is $6500.

Don't forget in the Atlanta market we have about 20 programs that will allow buyers to borrow 100% of the sales price by using grants and government down payment assistance programs.