Real estate agents say their phones are ringing a lot more in recent weeks as folks scurry to sell and or buy homes before next month’s tax credit deadline.

To qualify for the credit, buyers must have fully executed sales contracts in place by April 30 and the deal must close by June 30.

First-time homebuyers are eligible for up to $8,000. Buyers who have owned a home for five consecutive years within the past eight years can get a credit of up to $6,500.

For those seeking to cash in on the tax credit, one challenge is closing in time. This is especially true for those trying to buy a home listed as a short sale.

Short sales often offer a buyer more bang for the buck because lenders allow the home to sell for less than the homeowner owes on the mortgage. Lenders sometimes cut the price deeply to sell the home so they can avoid foreclosing on the property.

Real estate agents estimate that as many as 60 percent of homes for sale are listed as short sales. However, lenders are often slow to approve deals, and real estate agents report buyers walking away in frustration.

That’s actually helping sellers who are not distressed, real estate agents say. That’s because they are able to close quickly and before the tax credits expire.

Some buyers, agents say, are even willing to pay a little higher purchase price to ensure they’ll get the tax credit.