Lots of stories out today with slightly different details but both the House and Senate have ap­proved the $8,000 tax credit for first time homebuyers through the middle of 2010.  The pro­gram has also been expanded to include those people who purchase an owner occupied home within the past 5 years although the tax credit in that case is reduced to $6,500.  The exact de­tails will be out later.

 How Does This Affect Us As Realtors ?

   This is obviously good news for the housing industry.  As the economy continues to stabilize and hopefully begins to improve it is essential that the housing market continue to improve.  As companies begin hiring again more and more buyers will jump into the housing market wanting to take advantage of low interest rates and affordable prices.  Get the word out to everyone you know.