There are some new tax credits for first time home owners:

"First-time homebuyers are eligible for a maximum credit of $7,500. But there's a catch: The credit is actually an interest-free loan that must be paid back over 15 years. If you take the full credit, you will have to pay back $500 a year. If you sell the house before the 15 years is up, the full amount will be due."

See the link below for more details.
Source(s):
http://www.mercurynews.com/personalfinance/ci_11681876

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This year new home buyers can get 10% of the purchase price up to $8,000 back. It has to be your 1st time buying a home and you have to keep it for at least 3 years. You can learn more about it on the page $8,000 Housing Tax Credit.
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