FEATURE	Jan 1 - Nov. 30, 2009 Rules as enacted February 2009	Nov 7 - April 30, 2010 Rules as enacted November 2009
First-time Buyer Amount of Credit	$8,000 ($4,000 married filing separate)	$8,000 ($4,000 married filing separate)
First-time Buyer Definition for Eligiblity	May not have had an interest in a principal residence for 3 years prior to purchase	Same
Current Homeowner (Amount of Credit)	No Provision	$6,500 ($3,250 married filing separate)
Effective Date Current Owner	No Provision	Nov 7, 2009
Current Homeowner Defininition for Eligibility	No Provision	Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years
Termination of Credit	Purchases after Nov 30, 2009. (Becomes April 30, 2010 on Date of Enactment)	Purchases after April 30, 2010
Binding Contract Rule	None	So long as a written binding contrat to purchase is in effect on April 30, 2010 the purchaser will have until July 1, 2010 to close
Income Limits (Note: Increased income limits are effective as of date of enactment of bill)	$75,000 - single $150,000 - married Additional $20,000 phase out	$125,000 - single $225,000 - married Additional $20,000 phase out
Limitation on Cost of Purchased Home	None	$800,000 Nov. 7, 2009
Purchase by a Dependent	No Provision	Ineligible Nov. 7, 2009
Anti-Fraud Rule	None	Purchaser must attach documentation of purchase to tax return

Interest rates are low, home prices are fair and reasonable, and your choice of homes is plentiful.  But, properly priced homes will not last long, so call KBB today for guidance.  We'll be happy to help you through one of the most exciting and rewarding experiences of your life ... buying your new home!

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Source:  National Association of  REALTORS, Government Affairs Division, Washington, DC.  November 2009. Please consult with your tax advisor.

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