Time running out on home buyer credit

The clock is ticking for first time home buyers to take advantage of an $8,000 tax credit.

To be eligible, this has to be your first time buying a home in the past three years.

And you must also have a contract signed for your new house by April 30.

"For other buyers out there, $8,000 on a $150,000 house is like paying your mortgage for a half a year," describes Paul Durant of Russell & Jeffcoat.

"I wouldn't be buying a house if it wasn't for this," says first time home buyer Tug Baker.

Second time home buyers can also earn a $65,000 tax credit as long as that second home becomes their primary place of residence.

Vote in our poll and let us know if you think the incentive was enough to turn the housing market around.