Your income is more than $150K so you are not qualified for Fed $8000 tax credit anyway. Also, CA new home buyer tax credit $10K was gone too. It is still in discussion of extending $8000 tax credit or not, seem unlikely.
You already gained from selling house before the crash. Now, the house price is low and mortgage rate is low, it should be the best time to buy. You cannot get all benefits from the crash. Think of the US currency and Fed stop buying treasury next year March, lower mortgage rate for 15 or 20 years is a better deal than getting a one time tax credit.
