BOISE -- It's a second chance for first timers.
Until recently, the first time homebuyer tax credit was scheduled to end right after Thanksgiving. Earlier this month it was extended to April 30, 2010.
"We're going to be home owners. We'll have a house...it will be our house!" said Jen Sieritis.
It's great news for Mike and Jen Sieritis who were married in July and now ready to have a home of their own in Hailey.
"We've had some friends who've purchased homes and been able to receive the incentive and one day we decided, 'let's go look at houses' and fell in love with this one particular house," Jen Sieritis.
"This is an older home, it was built in the 1970s," said Realtor Suzanne Walsh. "It was on the market before for $425,000 or $435,000 and they're last list price is $254,000. They're under contract for right around that amount, so we're real close to that number and hopefully everything's going to fine with their financing and we're going to close just before Thanksgiving,"
According to the National Association of Realtors, an estimated two million Americans are expected to claim the tax benefit of up to $8,000. The IRS thinks nearly 1.5 million people have already claimed earlier versions of the First-Time Homebuyer Credit.
But, that name is misleading...it's not just for first time buyers. Existing homeowners who've owned and lived in their current house continuously for five of the last eight years can claim up to a $6,500 credit if they buy a new house.
The National Association of Home Builders thinks the credit will create 211,000 jobs and generate $9.6 billion in wage income.
"If they're buying a home right around this time...why not?" asks Walsh.
But, in Blaine County, where Walsh works, only about 10 percent of her clients are first time homebuyers.
"You know, I don't think it's had a huge impact in our area, but I definitely think it's something on first time homebuyers' minds when they're thinking about 'should we start looking.' This was something that helped them get off the fence and say, 'let's just go look.'"
"It's that push," said Jen Sieritis.
"It's definitely going to help out a lot," said her husband, Mike.
For the newlyweds it will, hopefully, mean thousands of dollars toward a remodel -- turning this house into their home.
"For us it was the next step in our life together," said Jen. "Next step is a family, but that will be a while."
