Homebuyers can take advantage of both federal and state of California buyer credit

      - Federal: $8,000 tax credit for first-time buyers

                       $6,500 for repeat buyers

        Home must be in contract by April 30 and close escrow by June 30

           More information here: Home Buyer Tax Credits

      - California: $10,000 tax credit over three years for qualified principal residents

                          $8,000 additional credit for first-time buyers

        Total funds are available only up to $200 million cap

        Must close escrow between May 1, 2010 and August 11, 2011

        More information here: CA Franchise Tax Board