UNITED
STATES SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON,
D.C. 20549
  FORM
10-KSB/A
 (Amendment
No. 2)
 
 xANNUAL REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
  For
the Fiscal Year Ended June 30, 2007
  Commission
File Number:   000-52936
 
 1st HOME
BUY & SELL LTD.
 (Name of
Small Business Issuer in Its Charter)
  Nevada
              
              Applied
      For(State
      or Other Jurisdiction
              
              IRS
      Employerof
      Incorporation or Organization)
              
              Identification
      Number
  15612 37A Avenue, Surrey, BC
CANADA V3S 0H7
 (Address
and Telephone Number of Principal Executive Offices)
  Securities
      registered under Section 12(b) of the Exchange Act:Title
      of each class registered:
              Name
      of each exchange on which registered:Common
              NoneSecurities
      registered under Section 12(g) of the Exchange Act:Common
      Stock, par value $0.001
                (Title
      of class)
  Indicate
by check mark whether the registrant is a well-known seasoned issuer, as defined
in Rule 405 of the Securities Act. Yes   ̈  No  x
 
 Indicate
by check mark if the registrant is not required to file reports pursuant to
Section 13 or Section 15(d) of the Exchange
Act.    x
 
 Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days. Yeso Nox
  Indicate
by check mark whether the registrant is a shell company as defined in Rule 12b-2
of the Exchange Act. Yesx Noo
  1
 Check if there is no disclosure of
delinquent filers in response to Item 405 of Regulation S-B not contained in
this form, and no disclosure will be contained, to the best of the registrant’s
knowledge, in definitive proxy or information statements incorporated by
reference in Part III of this Form 10-KSB or any amendment to this Form 10-KSB.
Yeso Nox
 
 Number of
shares of the registrant’s common stock outstanding as of October 17, 2007 was
5,200,000.
  Transitional
Small Business Disclosure Format: Yes oNo x
 EXPLANATORY
NOTE
  This
Amendment is being filed to amend our status to a shell company as defined in
Rule 12b-2 of the Exchange Act.  No other information in the filing
has changed.
 
 PART III
 
 Item
13.   Exhibits
  EXHIBIT
      NUMBER
              DESCRIPTION
              LOCATION31.1
              Rule
      13a-14(a)/15d-14(a) Certification (CEO)
              Filed
      herewith31.2
              Rule
      13a-14(a)/15d-14(a) Certification (CFO)
              Filed
      herewith32.1
              Section
      1350 Certification (CEO)
              Filed
      herewith32.2
              Section
      1350 Certification (CFO)
              Filed
      herewith
 2
 
 SIGNATURES
  In
accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
 
 1st
      HOME BUY & SELL LTD.By:
      /s/ DANIEL L. BAXTERDaniel
      L. Baxter, President, Chief Executive Officer &
    DirectorApril 8,
      2008By:
      /s/ SAMUEL J. ALDERSONSamuel
      E. Alderson, Chief Financial Officer & DirectorApril 8,
      2008
 
  3