The impending end of the $8,000 tax credit for first time buyers has been having the effect of encouraging them to at least look for a home. The last week has been exciting with new clients seemingly coming out of the woodwork. However, because of the new regulations of the mortgage industry, they may be too late in getting started. The new procedures have caused the mortgage companies to ask us, the real estate agents, to plan on 45 to 60 days to complete the sales because of added pressures and regulations. Now add a whole lot of new potential homeowners all trying to accomplish the same thing at the same time, and it may be too much for the system to handle.