Grant to help in fight against foreclosures, an article from the Rocky Mountain News, reports that a new $1.5 million federal grant will help Brothers Redevelopment and other counseling agencies keep another 1,700 people in Colorado out of foreclosure each year.  Zachary Urban, of the nonprofit Brothers said, "We hope it is as much as 2,500."  Brothers Redevelopment operates the Colorado Foreclosure Hotline, 1-877-601-HOPE.  The Colorado Housing Finance Authority was awarded the $1.5 million grant to expand foreclosure counseling across the state and the money will be distributed to 12 agencies to hire and train additional counselors.  According to Urban, the grant from the National Foreclosure Mitigation Counseling Program, which was approved by Congress as part of the 2008 Appropriations Bill, will give counselors the opportunity to meet more people directly.  Governor Bill Ritter said in a statement, "The demand for well-qualified housing counselors has increased dramatically since the onset of the foreclosure crisis.  With these award dollars, Colorado will be able to help thousands of homeowners at risk of foreclosure." http://www.rockymountainnews.com/news/2008/mar/06/grant-to-help-in-fight-against-foreclosures/

Real Estate Outlook: Housing Better Than Some Reports Indicate, an article from RealtyTimes.com, reports that according to the federal government, houses prices are down in every state except Maine last quarter.  The Bureau of Economic Analysis reports that residential investment was down by 25.7% last quarter from the year before.  And while there are fewer houses listed for sale now than a year ago, what is listed still represents a 10 month inventory.  However, if you look at existing housing sales, the fact is that the current rate of resales is just below 5 million a year, about 4.89 million according to the National Association of Realtors.  That number proves a lot of real estate activity.  Freddie Mac chief economist Dr. Frank Nothaft is also forecasting a return to even lower rates at 5.5% rates in the months ahead.  Combine that with Fed Chairman Ben Bernanke's promise to keep cutting short term rates and you've got the potential for a turnaround in the real estate market.
http://realtytimes.com/rtpages/20080306_realestateoutlook.htm

Additional articles that you may find of interest:

Slumping economy could be a $10 million silver lining for city
http://www.gazette.com/articles/city_33890___article.html/work_gess.html

Mortgage applications up slightly
http://money.cnn.com/2008/03/05/real_estate/mortgage_applications.ap/index.htm?postversion=2008030508

Reviving the Real Estate Market
http://www.newsweek.com/id/118914

Bank regulators fret about construction loans
http://www.msnbc.msn.com/id/23480155/

Calls widen for broader foreclosure solutions
http://www.msnbc.msn.com/id/23489087/

Home Builders Go 'Green'To Seek New Selling Point
http://www.realestatejournal.com/buildimprove/20080306-carlton.html