I clipped this from a notification I received regarding the new tax credit.
Unfortunately, it appears to be another "marriage penalty" in our tax laws.
"Purchaser (and purchaserâ€™s spouse) may not have owned a principal residence in 3 years previousyears"
Let me know if I can be of any assistance.
If you are asking about the new $8,000 credit, your wife is not eligible if you have owned a home in the last 8 years.
If you are considering buying another home, the good news is that this credit should help to create more interested buyers for your current home, allowing you the opportunity to sell it and move, if that is what you are hoping to do.
I am linking to a post about the tax credit that is on my blog.
Hope that helps,