This is a Sponsored Post written by me on behalf of Coldwell Banker. All opinions are 100% mine.

Are you in the market for buying a new house? If you are then you are in luck as Congress has extended the 2010 Homebuyer Tax Credits .

First time home buyers who have not owned a home in the last three years can receive up to a $8,000 tax credit. Homeowners who have lived in their current home consecutively for 5 of the past 8 years can receive a tax credit up to $6,500 when purchasing a home.

I thought at first this tax credit was ONLY for first time homebuyers but as I learned today it is also for current home homeowners. I have been in this house for 5 years now and if everything was just the way I wanted it I would be taking advantage of this and buying a house a newer house.

We don’t know if there will be any future extensions so all qualified home buyers are urged to act and have a written, binding contract by April 30th, 2010, (close by June 30th, 2010).

The income limits have also been changed. The income limits are now $125,000 for singles and $225,000 for married couples with a $20,000 phase – out credit for both.

The first time-time tax credit was working, but what housing and out national economy needed was a tax incentive for the move-up buyer. According to the 2009 National Association of Realtors Profile of Home Buyers and Sellers, the number of the first-time home buyer rose to 47% of all home sales from 41% of transactions in last years study, and was the highest on record dating back to 1981 . The previous high was 44% in 1991.

So if I caught your interest why don’t you check out the 2010 Homebuyer Tax Credits and while your there try searching for a new home. Who knows you might find one you like.

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