Tax credit has Realtors' phones ringing as deadline looms

Real estate agents say their phones are ringing a lot more in recent weeks as folks scurry to sell and or buy homes before next month's tax credit deadline. To qualify for the credit, buyers must have fully executed sales contracts in place by April 30 and the deal must close by June 30. First-time home buyers are eligible for up to $8,000. Buyers who have owned a home for five consecutive years within the past eight years can get a credit of up to $6,500. Tampa Bay area sales prices have plummeted more than 40 percent since the peak of the housing boom. Home sales in Tampa-St. Petersburg-Clearwater rose 28 percent in the fourth quarter of 2009, and the median sales price hit $138,800. That's down 42 percent since prices peaked at $239,600 in June 2006.

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