Time is indeed running short on the federal government's $8,000 tax credit. To have any chance at finding a home and having an offer accepted by the first week in October, buyers will have to get off the fence and jump into the home buying process right away to meet the December 1, 2009 deadline. The immediate actions include making a desired list of home amenities, driving through areas and neighborhoods, meeting with a mortgage professional and getting a pre-approval letter in hand. Then begin your home search either online or with a Realtor ®.

Though the official expiration date of the credit is December 1, in reality procrastination by buyers will not be rewarded and a decision one way or the other must be made soon. The reason: in order to qualify for the credit, the home purchase must be completed by December 1st. Just having a loan approval, a signed contract or an accepted offer won't be enough to qualify for the Housing and Economic Recovery Act.

If you're hoping to buy a home that is bank owned or in a short sale situation your timeline is even in more drastic. We are experiencing 70 to 100 days to close such properties.

Prepare for Delays! Like all government programs, it will be a crazy month come November. You will lose a week, at least, for Thanksgiving. Buying a home is a complicated process, and it is not unusual for purchases involving first-time buyers to take a little longer than those with investors or involving buyers who have experienced this journey before.

Remember the competition later this fall will get more intense for any house worth having so you better get a move on!

Authored by Paul S. Henderson, Realtor ®, RE/MAX Professionals,

Lacey, Dupont & Olympia, WA.

(http://phenderson.net) or http://www.lacey-washington.com

©2009 Paul S. Henderson, You better get a move on, All Rights Reserved