The first time home buyer tax credit will be expiring the end of November. Please keep in mind that it takes at least 30 days to close and in many occasions 45, if there are any hiccups in the process, which has become the norm. If you would like to close on your new home before the deadline you should make an offer on a home within the next 1-1/2 months.
Short sales and foreclosures will be next to impossible to purchase within this time period unless the sale is already pre approved with the financial institution.