Breaking Real Estate News: 8K Tax Credit

President Obama will sign an extension measure at the end of the week that will effect the housing market. The measure will also extend through April 30 a popular $8,000 first-time homebuyer tax credit, while creating a new $6,500 credit for homebuyer's who have been in their current residence for the last five years or more. The credit, which many say has boosted home sales in recent months, was set to expire after Nov. 30.