ACT NOW! Buyers must close escrow before December 31, 2010 to be eligible for the federal credit. California is a little different.  The program lasts through December 31, 2010 but is limited to only $100,000,000.  This means that only the first 10,000 new homes sold will be eligible for this credit.

Still have questions?  Visit these sites to find out more:

$8,000 Federal Tax Credit information