New Year Brings Improving Real Estate Market & Continued Buyer Incentives

On the bright side, housing markets stabilized in 2009 as the Federal Reserve's policies drove mortgage rates to 50-year lows for much of the spring and fall. Home prices posted six consecutive months of modest gains through October. The supply of foreclosed homes for sale has declined, in part the result of an ambitious program the Obama administration launched in February designed to keep at-risk borrowers in their homes.

But the underpinnings of the positive trends are fragile. The Fed brought down mortgage rates by committing to purchase up to $1.25 trillion in mortgage-backed securities. That program, already extended once, is set to expire in March. If you're a first time homebuyer or second time homebuyer who has lived in your home at least 3 years, email to learn what tax credits you qualify for in 2010.

Studio Condos Make Great Starter Homes or Rental Properties

Think you can't afford an urban condo. Think again. There are dozens of studio condos priced well beneath 100K to choose from with a fully remodeled Westport studio with a private bedroom area at a measely $59,900. Click here to see 11 studio options that would put your mortgage payments in the $500s.