If orange juice wasn’t on your shopping list when you went to the grocery store, a good sale may tempt you to buy. If on top of that you were offered a rebate, there might not be anything to stop you reaching for your wallet.

Florida’s housing market offers a similar enticement, especially for first-time buyers. With prices discounted 40 percent or more off peaks from three years ago, there’s a sense that homes are on sale. On top of that, the American Recovery and Reinvestment Act includes a tax credit of up to $8,000 for first-time home buyers.

If there’s a combination that may juice up the languid market, this may be it. Nationally, first-time home buyers participated in more than 41 percent of sales nationally last year, and that number is expected to swell this year, especially as foreclosures and short sales dominate the market.

Homes are more affordable than ever, relative to income. Added to that mix, mortgage rates for 30-year loans are at historic lows, dipping below 5 percent.

While many parts of the housing market remain in crisis, first-time home buyers find themselves in relative tranquility, facing the best deals in many years.

At the crux of the newfound activity is the 2009 tax credit. First-time homebuyers those who haven’t owned a principal residence in the past three years can file to receive a tax credit worth 10 percent of their home purchase, up to $8,000. The credit is claimed on the buyer’s federal tax return and is refundable, which means the consumer receives a refund for the amount of the credit less his or her tax liability.

“The new credit can get money in the pockets of first-time homebuyers quickly,” said IRS Commissioner Doug Shulman. “For people who recently purchased a home or are considering buying in the next few months, there are several different ways that they can get this tax credit even if they’ve already filed their tax return.”

Below are some tips on the new credit:

Request a federal tax extension: The tax credit can be applied to homes bought this year before Dec. 1. But what if your purchase is after the April 15 federal filing deadline? You could request a six-month extension to file by Oct. 15. This is faster than waiting to claim the credit on your 2009 tax return.

Know your limits: The tax credit comes with income limitations. Explore these if your purchase decision is based on the credit. Married couples are limited to modified adjusted gross income of $150,000 to qualify for the credit. Single buyers need a modified AGI of $75,000 or less to access the full credit. Those earning above those limits may be eligible for reduced credits.

Watch the calendar: To retain the credit, consumers must own the home for at least three years. Those who sell before then will owe the credit back to the government, though exceptions may be made for circumstances like divorce or death.

Follow the basics: While the federal tax credit may motivate your purchase, don’t lose sight of the fundamentals of the transaction. Hire a real estate attorney to protect your interests. Make certain you document your income and that it falls within the limits required to qualify for a loan. Shop for the best mortgage possible. Work with a real estate professional to ensure the house of your dreams is priced within the current market. Once you reach the contract stage, make sure a home inspector checks out the property and that the report is included as a contingency in the contract.