April 30th this year has jumped to being a much more important date than the infamous April 15th Tax Day, for home buyers and sellers at least.  That’s the last day a buyer can be in a “binding” contract on the purchase of a home to qualify for the federal tax credit of either $8,000 or $6,500, depending on your status and eligibility.

Who are the first-time homebuyers today?  According to the National Association of Realtors, the average age is 30 and their income is about $61,000.  They are looking for homes in the $150,000 range and now seek fixed-rate mortgages and over half (55 percent) are using FHA financing.

Tick Tock.  If you’re in the market it’s decision time!