First time home buyers who are in contract by 4/30/2010 CAN qualify for as much as $18,000 in tax credits from California and the Federal Government! There is a small window of opporunity for first time buyers to benefit from both programs. For the federal incentive of up to $8,000, buyers must be in contract by April 30th and close by June 30th. The California credit covers closings on homes on or after May 1st thus, leaving short window to double dip. Of course, for the state of California the credit is given on the first-come,
first serve basis.