The new The $6,500 Move-Up / Repeat Home Buyer Tax Credit  may be for you.  If you have been thinking it is time to move closer to the grandkids, move up or downsize then this may be the program for you.

To be eligible to claim the tax credit, buyers must have owned and lived  in their previous home for five consecutive years out of the last eight 
years.

• The tax credit does not have to be repaid.
• The tax credit is equal to 10 percent of the home's purchase price up to a maximum of $6,500.
• The tax credit applies only to homes priced at $800,000 or less.
• The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by May 1, 2010, the home purchase qualifies provided it is completed prior to July 1, 2010.
• Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.