Pending home sales are up in May marking the 4th straight month the index has gone up, says the National Association of Realtors.  This gives hope that the housing market is beginning to recover.

For first time home buyers the clock is ticking.  The first time home buyer's tax credit is nearing the end of its life.  If you want to use it you must complete your purchase before Dec 1, 2009.  The time frame between making an offer and closing keeps getting longer.  To be safe first time home buyers should have their selected house under contract by Sept 1.  That means you should be looking at homes NOW.  Do not delay any further! 

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