Here’s the Skinny on the $8,000.
Homebuyer Tax Credit

The National Association
of Home Builders
provided
the following video with Rob Dietz, PhD discussing the $8,000. first
-time homebuyer tax credit.  This 7-minute video is well worth the
watch if you’re a first-time homebuyer or haven’t owned your own home
for the last three years.

• Buy a home and you may qualify for the $8,000 tax credit on
  your 2009 taxes
• Even if you don’t owe $8,000 in taxes, you may receive a
  refund check for the difference
• You or your spouse can’t have previously owned a home in the
  last 3 years
• You cannot make more than $75,000 adjusted gross income, or
  if married, $150,000 adjusted gross income
• The home that you purchase has to be your primary residence
• If you sell the property within 3 years, you will have to
  repay the money back to the government.  If not, the money is
  yours to
  keep with no strings attached.
• Consult your tax advisor for more details.
• Consult your local expert Realtor® when you’re ready to start shopping for
  that new home!