$18K Tax Credits for home buyers - Are they Real?

Seems like they are real my friend, if you qualify. It is actually possible to receive both the Federal and State tax credits on one transaction.  23 days left to get into contract to try to make this happen.  That is you must be in contract before April 30th and close escrow between May 1st and June 30th to try to get both. Here are the simplified version:

Federal Tax Credit

• $8,000 for first time home buyers (those who have not owned a home they live in for the past 3 years)
• $6,500 for move up or move down home buyers (must have owned a home they live in for 5 of the past 8 years consecutively)
• Max purchase price is $800,000
• Max income to receive the full credit is $125,000 for single people and $225,000 for married couples
• Can apply the credit to 2009 or 2010 tax year
• Get the full credit in one shot in the year applied
• To claim it you include it when filing taxes for 2010 or amend the return for 2009
• Must be in contact to buy on or before April 30th 2010
• Must close escrow on or before June 30th 2010

California State Tax Credit

• $10,000 tax credit
• Two ways to qualify for the credit:
• You are First Time Home Buyer (Not owned a home you’ve lived in for the past 3 years)
• You buy a New Construction property 
• No income limits
• No purchase price limits
• Must buy a Single Family Home either Detached or Attached only, NO townhomes or condos,  No exceptions!
• Tax credit is given in 1/3 per year increments for 2010, 2011, and 2012 tax years
• Must close escrow between May 1st 2010 and July 31st 2011
• Must have fully executed contract to buy the property on or before December 31st 2010
• Must file with the State of California with in 2 weeks of close of escrow or you lose it
• There is 100 Million allotted to the First Time Buyer Program
• There is 100 Million allotted to the New Construction Program

Source: Internet Research and Government websites, see references below:
2010 Tax Credit for New Home / First-Time Buyer
First-Time Homebuyer Credit Questions and Answers