I was asked to review the information on the 2010 Homebuyer Tax Credit on this site and the first thing it made me think of was the scene in the old “Miracle on 34th Street” : the movie is winding down, but the little girl has still not gotten her Christmas wish. She’s saying to herself, “I believe, I believe, it’s stupid, but I believe.” They stop at this home that they’re going to use for a photo shoot and its the home the little girl has wished for . . . and the couple decide to buy the home.

With the 2010 Homebuyer Tax Credit, you or I could celebrate Christmas 2010 in a new home. The credit was extended to April 30 of 2010 (closing by June) and offers an up to $8000 tax credit for first time home buyers and up to $6500 for homebuyers who are upgrading. The income limit has been expanded up $12500 for individuals, and $250 for couples, so unless your quite wealthy, this easily applies. Yes, its a little early for a Christmas present, but what better thing to get for Christmas than a new home.

There is additional information at Coldwell Banker, on their page: Real Estate Bailout, as well as this video that they’ve provided that give an overview of the credit as well as its beneficial effects for the economy: