Home buyer credit deadline near

Indianapolis(WISH) -         If you're a first time home buyer, the downturn in the economy has an upside for you.
       Qualified home buyers could receive a credit of eight thousand dollars, if they close on a home by the end of November.  It's the kind of incentive that home sellers are pushing at an open house this weekend. We visited the Little Flower neighborhood near 16th and Emerson where there were plenty of homes for sale. Homes that might have topped $100,000 before the economy tanked, are now selling for closer to $75,000.

     "We've seen 2100 homes sold in September which is an increase of about 12% over the last year" says Glenn Bill with Century 21.
He says "I think the need to get in under that November 30 deadline is really inspiring people to get out there and make those decisions. I have three buyers that are going to buy real estate mainly because they don't want to lose than $7,000-$8,000 credit that's coming their way."
     While homes in that price range might sell with this incentive, others are still on the market. The Indianapolis Business Journal reports homes costing between $300,000-$500,000 are on the market 14 months. Those between $500,000-$1,000,000 are on the shelf for 21 months. Those above $1,000,000 are on the market 56 months.