Anybody who's been sitting on the sidelines hesitant to jump into real estate until conditions settle down should know these dates: April 9, 2008, through June 30, 2009.
They mark the eligibility time span to qualify for the home-purchase tax credit created by the massive housing bill approved by Congress.
If you have not owned a house during the past three years — or are considering buying your first home — and can go to closing before the end of next June, you may be eligible for up to a $7,500 credit against your federal taxes for 2008 or 2009 ($3,750 if you file taxes as a single person).
The new credit is expected to benefit hundreds of thousands of buyers, although Congress set no limit on how many people can qualify.
Since the specifics of the credit changed during the past month as the Senate and House negotiated a final compromise, here's a quick overview of the credit in its final form.
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