First time home buyers who are eligible for the tax credit up to $8,000 and are under contract on short sale homes are feeling the pressure of the November 30 deadline. It is unfortunate that the sellers' lenders don't feel pressure to give a timely response on Short Sales! (Contracts on short sale homes must be approved by the seller's lender(s) and that can take as long as seven months!)James Thorner, real estate expert of the St. Pete Times writes: "An estimated 1.4 million home buyers across the country, including 106,000 in Florida, have claimed the credit already. But with the deadline less than two months away--and little indication so far that Congress will extend the freebie--real estate agents and home builders are warning buyers away from shilly-shallying with the bank." (on short sales). Full Story from the St. Pete Times
