First Time Home Buyer's Credit

The $8,000 first time home buyer's credit has had a major impact on the real estate industry. A major part of the increase in home sales can be attributed to these buyers over the past several months. This credit is scheduled to end in just over 90 days. Wondering if this is going to create a buying frenzy similar to the cash for clunkers program? Hope the first time buyers do not wait till the last minute and not be able to close in time to take advantage of this basically free money. Also wonder if many potential sellers of lower priced homes are missing out on a great opportunity to get their home sold quickly.

The Home Builders Association is pushing to have the credit extended into next year and even expand it to all buyers. This would really be a stimulus that could help everyone!