The President just signed the new stimulus package, officially called the American Recovery and Reinvestment Act of 2009. In addition to raising FHA loan limits the first time homebuyer credit changed for the better. If you purchase a home between January 1, 2009 thru December 1, 2009 you will receive an $8,000 tax credit. In contrast to the previous $7,500, this credit does not have to be paid back as long as you live in the home for 3 years. An estimated 300,000 new homeowners will enter the market according to a CNNMoney.com article. I honestly think this number will be much higher. So what does this mean for sellers? Buyers are flooding the market and have already started buying homes. If your home is priced in the first time homebuyer price range (approximately $250,000) buyers will buy your home. But remember our first time homebuyer’s are savvy and educated. They have a lot to choose from and can be picky. So get that home in move in condition, price it correctly and watch it move.