Improved but not overly exciting home buying credit

It appears the $15,000 tax credit for any home buyer will not be making it into the stimulus package, but instead they are just slightly improving the first time buyers credit from last year. The credit increases from $7,500 to $8,000 and the requirement to repay the credit disappears. The same income limits are in place and it is still available only to people who have not owned a home for the past three years. So it is slightly better for those who could have already qualified for the 2008 credit anyway, but does not help any more people (other home buyers who are not first time buyers, or sellers of homes too expensive for first timers to consider.) Anyway, now that it is finalized, I am hoping the first time home buyers will realize things are settled and will go buy a house since it is now a free $8,000 for them that does not need to be repaid. So now anyone in the St. Louis area can come and buy my house on Weatherby Drive in the Pattonville School District (63146 zip code). I have even updated my buy my house calculator to use the new $8,000 credit. A first time buyer who qualifies for an FHA loan would only have to put down several hundred dollars of their own money to purchase our home. The state of Missouri will lend you money to cover the rest of it!

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