Senate Approves First-Time Home Buyer Tax Credit, Now on to the House & the President

The U.S. Senate passed an extention on the first-time home buyer's tax credit! It's expected to be approved by the house tomorrow and then off to Pres. Obama to sign. The bill extends the credit through April 2010 and adds a $6,500 tax credit for repeat buyers if they've lived in their home for five of the past eight years. Home prices are capped at $800,000. It's going to be a hot time to buy & sell!