It's not too late to take advantage of the American Recovery and Reinvestment Act of 2008. for qualitifed buyers who purchase their principal residence between January 1 and December 1st 2009.
If you are a 1st time homebuyer, defined as someone who has not owned a home in the past 3 years, you can have a tax credit of up to 10% of your purchase price up to a maximum of $8,000 if you close on a property before December 1,2009
This is a great opportunity. Even if you have little or no tax liability, the credit can be claimed. This is not a deduction, it is a dollar for dollar redcution in your taxes.
Talk to your local realtor and or tax advisor to see how you or someone you know who is trying to take advantage of this buyers market can also use the tax credit to help.
For more details go to the National Council of State Housing
http://www.ncsha.org/section.cfm/3/34/2920