Q: I’d like to buy a house but I’ve been told that the $8,000 buyer credit is expired.

I really can’t buy a place without that. Will the government do something like that again? It would be great if they did it before the prices go up and while there are houses for sale in my price range.

A: As it happens, the first time home buyer credit was extended and you have until April 30th to get into a contract to buy a house, and you have up until July 1st to close on the sale. There is even a new provision that allows someone who has been living in the current home they own at least five years to purchase another primary residence and receive up to a $6,500 tax credit.

Also remember that if you don’t owe that much on your taxes the government sends you the difference in cash! You can apply it to 2009 taxes or 2010. There are some income limits to receive the full benefit. You must make $125,000 or less for a single person and $225,000 for those filing jointly. If you make more you get a smaller benefit.

We have an active market right now with new listings coming on the market almost daily. Several of those listings are in your price range so there is reason to hope that you could find a home that will work for you before the April 30th deadline.

I am happy to say that I have sold several homes in the last several months to first time home buyers. The $8,000 benefit was a real help in all of these cases. Because we finally have some inventory in the lower price ranges, these young families as well as many single individuals have been able to buy a home in what has been an expensive and out of reach real estate market.

If you have been on the fence about buying, have your lender figure out for you how that tax credit can help you finally own a home of your own.