Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

The expansion and extension of home-buying tax credit....Opinions?
The new law extends until April 30, 2010.  This is the new deadline for closing escrow for first-time homebuyers to receive a credit worth up to $8,000. The credit was going to expire Nov. 30. It also adds a credit worth up to $6,500 for taxpayers who buy a replacement primary home provided they have lived in their existing home for at least 5 of the past 8 years.
I am not sure that this is a resolution but it sure does give first time home buyer's an incentive to buy.  The only thing is I am seeing a ton of FHA buyers at 3% down purchasing homes under this new option.
Is this really the best idea?  Buying a home is a great idea, but to rush into a purchase because of the tax credit when you have no equity seems like a high risk endeavor.
I feel like this is clearing inventory and puting new homeowners in a high risk situations for the future, especially if they lose thier job etc.
It seems as though the 20% down buyer's are becoming a thing of the past, especially with first time home buyers.
... more

__________________________________________________
Are you on The Rain? Grow Your Network!