FIRST-TIME HOMEBUYER TAX CREDIT EXTENDED! 

The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. It also authorized a tax credit of up to $6,500 for qualified repeat home buyers.

The tax credit for first-time buyers has been stimulating the housing market in the Twin Cities, and it's a great time to consider buying or selling as more and more buyers are taking advantage of this incentive.

Here is the link to the IRS website with access to the tax credit forms and details of the plan.     

The tax credit is applicable to any home used as a principle residence: single family homes as well as townhouses, condos, manufactured homes, and even houseboats!

Buyers will have to repay the credit IF they sell their homes within three years.