Homebuyer tax credit extended and expanded

Congress has passed an extension of the $8,000 tax credit for qualifying first time homebuyers and expanded it for a $6,500 credit for qualifying homebuyers who are not first time home buyers.   It is anticipated that the President will sign the bill as soon as tomorrow.  The National Association of Realtors has provided a comparison of the existing and new programs and brief summaries at this link.  More details to follow.