Move up tax credit

The new tax credit for move up buyers is a great incentive for buyers who have been sitting on the fence to jump into the market now, rather than later.  In today's local San Diego newspaper, there was an article regarding how home prices have actually started to creep up again, and sales numbers are really climbing for October vs. October of 2008.  The $6,500 tax credit is available to anyone who has lived in their home for at least 5 years as a principle residence and is now going to purchase a move up property.  The credit does not even require the buyer to sell their current property!  However, qualifying for a loan does have its own requirements.  Any current home owners who are considering purchasing another home in the near future, should consider looking now rather than later when prices may go up even further.  Inventory is already very low, with the new credit it will become even lower.