Well, it is now official, having passed both houses of Congress and getting the President's signiture the first time home buyer's tax credit for up to $8,000 is now officially extended to April 30th. Qualifying buyers have to be in contract by this date but can close up to 60 days beyond this to comply with the criteria. Additionally, "move up" buyers, those who have been in their principle residence for 5 out of the last 8 years qualify for $6,500 tax credit. Under both scenarios an individual buyer cannot earn more than $125,000 or a couple purchasing together up to $225,000.