I just learned that the first-time home buyer credit has been increased.  A first-time home buyer credit was originally established under the Emergency Economic Stabilization Act of 2008. 

A first-time homeowner is someone who has not owned a principal residence in the past three years. The new act will let a first-time home buyer claim a refundable credit of up to $8,000. There will be no repayment requirement for homes purchased after Dec. 31, 2008, and before Dec. 1, 2009, unless the home is sold or no longer used as a primary residence within three years of the purchase date. 

his tax credit will be phased out for higher-income taxpayers, defined as AGIs in excess of $75,000 for single taxpayers or $150,000 for joint filers.

This is a great tool that buyers can use to get their first home.