With the tax credit extended through April 30th (and close by June 30th) so that qualified first time buyers can receive $8000 back from the federal government AND qualified current owners eligible for a $6500 tax credit, it begs the question, “Where are all the buyers?”

Right now a lot of real estate activity is through investors who are snatching up properties because home prices are low – especially investors who can buy without depending on a bank loan.  However loans are still available for regular buyers, too, at historic interest rates.  (Check the daily interest rates available nationwide here.)

If you feel secure in your job, have a good credit score, and a desire to own a home, remember that money is money.  These thousands of dollars offered as tax credits by Uncle Sam will go away later this spring.  What first-time buyer is not qualified for the tax credit?  Here are some restrictions.  If…

• They buy the home from a CLOSE relative (including spouse, parent, grandparent, child or grandchild).
• They do not use the home as principal residence.
• They sell the home before the end of the year.
• They are a nonresident alien.
• They are – or were – eligible to claim the District of Columbia first-time homebuyer credit for any taxable year.
• Their home financing comes from tax-exempt mortgage revenue bonds (does not apply for home purchased in 2009).

If you’re seeking the $6500 tax credit, remember you must have owned and occupied a primary residence for a period of five CONSECUTIVE years during the last eight years.

Remember, money is money.  If you’re ready, willing, and able to buy right now and qualify, don’t delay if you want to receive $8000 or $6500.