I am in a similar boat--I am a December 2011/January 2012 grad--BUT, I already live here in Philly. I also already work in a hospital here.
With that said, I've gotten mixed signals as to when to actually apply. One of the charge nurses on my unit told me to start applying now as to get ahead of the other December grads (and my unit is also one of the few that actually hires new grads). But, on the other hand, I know that while my hospital used to hire GNs, you now need your license in hand to start working. BUT, I also know that they will interview you before you're licensed AND just from working here I also know that the HR process takes forever (not just with nurses but with everything)...so who knows if I interview soon maybe all the red tape will be sorted through just in time for me to start working early next year!!
Good luck and keep me posted if you learn anything new!