Only 16 weeks until the window of opportunity is going to shut for first time home buyers if they want to get the $8000 credit.  I can't believe that November 30th is that close but it is. The date of November 30,2009 means that the property has to close, not just be in contract. The closing process takes longer than most buyers are aware so you better get started. Better to be safe than sorry.

Be preparred, don't wait, it is a buyers market and there are some wonderful properties out there at more than fair prices.  Rates are still very low, don't be sorry that you waited and rates bump up. Get yourself out of that rental and into a new home for the holidays.

You may qualify and not even know it, best to call and find out if you do. The best part is that you don't need to wait until next year to get the $8000 credit.  You just need to close on the house by November 30th,  visit your tax preparer and have them fill out the amendment to your taxes, can't be done online you must use paper! You could have your credit in as little as 6 to 8 weeks!! I even heard that someone got their money back in 3 weeks.

For your convenience I have attached the IRS Link.

For 2009 Home Purchases

The American Recovery and Reinvestment Act of 2009 expanded the first-time home buyer credit by increasing the credit amount to $8,000 for purchases made in 2009 before Dec. 1.

For home purchased in 2009, the credit does not have to be paid back unless the home ceases to be the taxpayer's main residence within a three-year period following the purchase.

First-time home buyers who purchase a home in 2009 can claim the credit on either a 2008 tax return, due April 15, 2009, or a 2009 tax return, due April 15, 2010. The credit may not be claimed before the closing date. But, if the closing occurs after April 15, 2009, a taxpayer can still claim it on a 2008 tax return by requesting an extension of time to file or by filing an amended return. News release 2009-27 has more information on these options.