House Hunters Scramble To Beat Friday Tax-Credit Deadline
Last-minute home shoppers like Kevin Babbington are out in force this week, looking to buy by April 30. They must, or they'll miss a federal tax credit of up to $8,000. Babbington, a Chicago technology worker, lost four homes to other bidders. Undeterred, he combed ads and cruised open houses to find one to move on by Friday's deadline. As of Thursday, it wasn't looking good. Buyers with contracts signed by Friday have until June 30 to close.