We've not heard anything about an extension. Where are you in the house hunting process? Have you been preapproved for a loan? Do you have a good realtor working for you? I'm working with a few first time buyers who expect to get the credit. I'd be happy to work for you if you're not already working with a Realtor. The time to get started is NOW because the local market is very competitive due to low prices and fabulously low interest rates.
Best of luck to you,
Century 21 Beachside
The IRS website for the "First-Time Homebuyer Credit" is here:
Fran and Rowena