It's official. As part of the new economic stimulus package there is an $8,000 tax credit for home buyers! The credit is only available on home purchases between January 1, 2009 and December 1, 2009 so if you're considering becoming a home owner, this is another great reason why 2009 is the year to make the leap.  The details: 

• Available only to first-time home buyers (you are considered a first-time buyer as long as you have not owned a home in the last 3 years)
• The tax credit is not a loan and does not require repayment*(If you sell the home within 3 years, the credit must be repaid)
• Home purchases must be for a primary residence (investment, rental or vacation properties don't qualify)
• If you are single and make $75,000 or more, or are married and make %150,000 or more, you do NOT qualify
• The credit is not eligible if the seller is a relative of the buyer
• The tax credit reduces the home buyer's tax liability; if the buyer's liability is less than $8,000, the remaining credit will be issued as a check