MARION - Have you ever gone to a store to buy something that you knew was on sale -- but only for just a little bit longer?

First-time home buyers in Eastern Iowa are running out of time to cash in on a big "sale" of sorts. It's common to hear the phrase 'buyer's market' when it comes to looking at homes but -- for once -- the first-time buyers are facing a hard deadline to make a commitment.

"There is a lot of anxiety," Anu Ambati said on Wednesday as she thought about the house she and her husband, Kedar, are about to close on. "I wish I could wake up in my new house."

The Ambatis are still waiting to close on the transcation, well ahead of the November 30 deadline for some first-time buyers to qualify for an $8,000 federal tax credit.

Their buying agent, Amanda Baccam of Iowa Realty in Marion, said that her phone is ringing more with people asking questions about the credit. "People are really weighing what is more important to them -- that fourth bedroom or $8,000," Baccam said.

Just from reaching out to those in the business of buying and selling homes, it's clear this is a very busy time. Some home inspectors told us they are working around the clock. Even some realtors - who did want to talk with us -- said they couldn't today because they had 10 or even 12 appointments. All as buyers are running out of time to make a deal.

Tom Wehmeyer, mortgage loan manager at Linn Area Credit Union in Hiawatha, said that buyers really need to have the process started up by about the middle of October.

"To prevent people from running around in a rush, people should allow 40 to 45 days," Wehmeyer said.

When facing the actual numbers and calculating the payments, Ambati said it did make a real difference. She said the tax credit could equal about six months worth of payments.

"We reached that point because of the pressure we felt and $8,000 is a lot of money."