I can’t answer that question for everyone but I can for those that are buying their first home or buying their first home in 3 years. Sort of the same thing but different.

Today, President Obama is signing into law the economic stimulus bill and there is a $8000 tax credit for first time home buyers. Someone who has not owned  a home in the last 3 years also qualifies.

This money does not have to be paid back if you live in the home at least 3 years. That is different than the previous credit of $7500 that had to be paid back over 15 years. You can use the money for anything, including just putting it in the bank for a rainy day. Think of it as a price reduction beyond the great deals we have right now.

A good article from CNN Money goes into a lot more details but most folks will qualify for this so if you are first time buyers or you know someone who has been thinking about ending the ‘rent-go-round’ then give me a call and we’ll talk about it to see if it make sense for you.

It’s a Good Life!!
Jerry W. Robertson