As you know, the $8,000/$6,500 Federal Tax Credit has expired.  However, you may have heard something about an extension.  There is a new "Jobs and Tax" bill up for vote soon, and in it is a provision to extend the federal tax credit to the end of September.  However, it is still for buyers that were under contract prior to April 30th, so this is a reprieve only for those stuck in short sale limbo.  (For more about short sales, please CLICK HERE.)

The $10,000 credit is going strong for Californians, but may be out of money very quickly.  In the meantime, CLICK HERE for the information directly from the source.

With or without a tax credit, low interest rates and property prices are continuing to make it a great time to buy a home!