California "new construction" tax credit

The California "New Construction" tax credit is almost out funds....which may be a good thing in that it shows that A. People are buying homes again and B. The tax incentives are working. Of course the Fed's "first time buyer" tax credit is still available to all qualified recipients until December 2009. More info on that here: http://www.federalhousingtaxcredit.com/2009/faq.php#1

Here's a CNN article saying there's only 20% of funds left!
http://money.cnn.com/2009/06/12/real_estate/10000_California_tax_credit/index.htm?section=money_realestate