It is the dream of many Americans to be a home owner. We all want to have a piece of the American land that is our own. This dream has seemed very far away for the past year of our economical decline for many people. Particularly for first time home buyers. Now there is something being done to answer that problem and to help those that have been wanting to buy but we not sure this is the right time. There are programs in place for first time home buyers to enjoy a Real Estate Tax Benefit. These tax credits are set up to give first time home buyers a tax credit up to $8,000. If you have not owned a home for three years you also may qualify for these tax credits. Now the program is available for people that have lived in there home for 5 out of the last 8 years consecutively. These potential home buyers may qualify for a $6,500 tax credit. The tax credit program is available only until April 10,2010. So if you want to take advantage of this program you have to have a written and binding contract on your new home by that date. This program may be just what the housing market needs to get those that buyers that have been thinking about buying to the buying table!
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