Painting, cleaning and remodeling the kitchen are some of the projects self-proclaimed handyman Kevin Garvey is ready to delve into now that he has a home of his own.

After he had browsed more than 30 houses in Northern Virginia, the price and location of the single-family house off Liberia Lane made the first-time home buyer move to Manassas.

* Full story: Available on Washington Post

Matt Schuetze knew right away the brick home for sale in North Temple would be perfect for his wife and 2-year-old son. But there were two problems: red carpet and money for a down payment.

Under the Homes for Texas Heroes program, Schuetze’s job as Temple College police officer enabled him to get a grant that he could use for the down payment.

“It got us in here,” said the 22-year-old, first-time homeowner. “I knew something was out there like that, but I didn’t know what it was.”

In the aftermath of the subprime mortgage meltdown, local mortgage companies are using programs like these to help first-time buyers cross the threshold into a home of their own.

* Full story: Available on Temple Daily

Today´s economic problems with massive foreclosures could be a sellers and buyers dream by knowing the possibilities of various creative finance options, one of them being real estate exchanging.

Simply stated, an exchange of real estate is an exchange or trade of real estate it is the mutual transfer of property for property. Exchanging real estate has become quite popular in recent years. It is a practical way of transacting real property when little or no cash is available.
* Full story: Available on American Chronicle

Home sellers, brace for some grim news. The spring home-buying season now underway is widely expected to be the worst since the 1980s.
Many would-be buyers lack strong enough credit to get a mortgage. Home values are sinking. And in front yards around the country, “For Sale” signs are as ubiquitous as garden weeds.

The median price of an existing home in March was 7.7% less than it was a year ago, the National Association of Realtors reported this week. “Sellers are having to capitulate,” says Mark Zandi, chief economist for Moody’s Economy.com. “If you’re a seller, it is the worst season since the early 1980s.”

Yet, what’s bad for sellers is good for buyers — at least those blessed with excellent credit and enough money for a sizable down payment. They can enjoy lots of homes to choose among, time to browse, and typically, the advantage in negotiations.

* Full Story: Available on USA Today

Miami-area home sellers looking to unload their properties might want to make sure they have comfortable couches.

It looks like they’re going to be there a while.

That’s because Miami tops our list of the nation’s most sedentary housing markets. These 10 spots feature a potent mix of dropping prices and sluggish sales rates. Also on the list: Denver; San Diego; Baltimore; Washington, D.C.; Los Angeles; Tampa, Fla.; Phoenix; Orlando, Fla.; and Chicago.

* Full Story: Available on Forbes

Today might be an ideal time to buy a home. Bill Basic has seen this time come around maybe three times in the past 25 years. The long time homebuilder and president of the SouthWest Suburban Homebuilders Association ticks off the key points:

* Interest rates are at historic lows.

* Mortgage money is available to qualified buyers.

* Rising rents are roughly equal to monthly mortgage payments.

* Prices are stable.

* Builders are holding off price increases even though their own costs are still rising.

* Many are offering incentives such as free upgrades on inventory homes they need to sell.

It is THE single biggest wish in the American dream of home ownership: the “buyer’s market.”

Full Story: Available on Search Chicago

If their plans pan out, John and Judith Mehrens soon will own a waterfront condominium in a brand-new Bremerton complex that’s currently advertising units starting at $109,000. But they’ll have to be on their toes because this isn’t your typical real-estate transaction.

Instead, 28 units in a project called The 400 will be auctioned off to the highest bidders April 20 in an eBay-like experience: unbelievably low starting prices followed by last-minute bidding frenzies if the goods strike the public’s fancy.

* Full Story: Available on The Seattle Times

Last week I published the the stories of three recent home-buyers, and one of them was brave enough (masochistic enough?) to offer a more detailed account of her decision to ignore the  comments on this blog and buy a house. Milla Goldenberg, who writes the blog Milla Times, on finding a home in L.A. for $400,000.

* Full Story: Available on LA Times

Richard Kent Green, a professor of real estate, finance and economics at George Washington University, looked at renting vs. buying when he decided where to live. Green said the active rental market in the Washington area can help you find a rental property to compare with a potential purchase. The key is that the properties are comparable in size, neighborhood, age and all other factors.

For Green, the magic number is six at current interest rates.

Here’s what that means: Find a rental property that’s comparable to the property you’re thinking of buying. Figure out how much it costs to rent annually; if the rent is $2,500 a month, you’re spending $30,000 a year, or 6 percent of $500,000.  So by Green’s math, if the house costs $500,000 or less, it’s a decent bet.

* Full Story: Available on Washington Post