There is a definite possibility as the incentives for first-time buyers can change, but there is no promise. The best bet is to make a purchase and close before Nov 30th.
There are income limits to the credit allowing $75,000 for a single filer and $150,000 for a couple filing jointly. The IRS bases the credit on your modified adjusted gross income, and does not have to be repaid.
If you need help getting started on your home search, please give me a call. There are some great deals in the Eagle Rock/Glassell Park area that'd id be happy to send you!
Prudential California Realty