The $8000 first time tax credit is extended to April 2010.

The $8000 first time home buyer tax credit is extended!  Additionally there will be a $6500 credit for buyers who have lived in their current homes for the past 5 years.  This will allow people to sell their houses they have been living in for years and buy another house and get a $6500 tax credit or just buy an additional property for their portfolio.

This is great news for Seattle as a lot of first time buyers and move up buyers have been waiting for the right house.  Now more inventory will be available because current home owners will want to sell and move into larger homes while also getting the added benefit of a $6500 tax credit.  This will free up inventory for first time homebuyers to get into the market.

Great news!