President Barack Obama signed a bill last week that will allow more people to qualify for homebuyer tax credits, including people with higher incomes.

The bill will allow first-time homebuyers to get a tax credit of up to $8,000 through April 30, 2010. Single people making up to $125,000 and married couples with incomes up to $225,000 can now apply. Previously, the income limits were $75,000 for single taxpayers and $150,000 for married couples.

And people who already own a home but would like to move to another one can now apply for a tax credit of up to $6,500.

The tax credits apply only to homes that cost $800,000 or less.

John Wood, president of the Raleigh Regional Association of Realtors, says the extension and expansion of the homebuyer tax credits could encourage more people to buy homes this winter.

"About a third of the buyers nationwide who bought as first-time homebuyers said that they bought because of the tax credits," he said. "The biggest thing that is helping us locally is that throughout the country people are getting their homes sold. So as they sell their home elsewhere, whether it's in Florida, Ohio, New York, wherever, those people who have jobs here can now buy a home."

Michael Jarzomski, who now lives in Apex, recently bought a home with the help of the tax credit.

"First-time homebuyers, we were nervous to move into a new property and into a new investment," he said. "This helped to recover some of the down payment that we put toward the house. We were able to take advantage of this buyer's market. And also take advantage of the low interest rates."

He is now encouraging his friends to buy while they can still take advantage of the savings.

Click here for more information about the tax credits.