The Government had set an $8,000 tax credit scheme for qualified homebuyers, under which buyers would get $8,000 back from the Government once all the taxes are paid. While the scheme had helped boost local real estate sales considerably, time to avail this offer is running out as the deadline, set at December 01, approaches fast.

Greg Slater of Real Estate III chimes an upbeat note while saying, "The important thing to know is that it’s still available for any loan that closes by November 30". On the other hand, he is quick to add, "The other important thing is that we’re really coming down to the end of the line because most loans take about 30 days to close".

Real estate sales across the nation had plunged to an all time low at the onset of this year. But since the opening of the scheme, offices have reported a 24% rise in both sales and profits.

Realtors countrywide are now hoping, and stressing the need for, the deadline's extension. Fearing that the recession hit public might go back to not buying any new personal property after the scheme ends, experts and realtors are of the opinion that the Government should look at a possible revising of the deadline.