Lease-to-Own Primer, an article from Realtor Magazine Online, reports that lease-to-own agreements can help sell a hard-to-sell property during a sluggish housing market.  For a set period of time, a seller agrees to rent a property to an interested buyer.  At the end of the lease, the buyer has the option to purchase the home at a preset price.  A portion of the monthly rent paid during the lease is usually counted toward the down payment.  The seller might charge a rent increment or monthly premium of $200 to $300 compared to comparable rentals.  Some owners charge an option fee for taking the property off the market, usually 1% to 2% of the sale price, which is applied toward the purchase.  There is no guarantee that renters will buy at the end of the term, but if they don’t, they keep the option fee and the amount of the rent that would have gone toward the down payment.

http://www.realtor.org/rmodaily.nsf/pages/News2008031001

Additional articles that you may find of interest:

Colorado's foreclosure rate viewed several ways
http://www.rockymountainnews.com/news/2008/mar/11/colorados-foreclosure-rate-viewed-several-ways/
 

Happy Talk
http://www.cobizmag.com/articles.asp?id=2071

Subprime alternative: FHA reform deal close
http://money.cnn.com/2008/03/10/news/economy/fha_reform_upcoming/index.htm?postversion=2008031012

Fed takes further steps to ease credit crunch
http://www.msnbc.msn.com/id/23573406/

Luxury homes buck the trend
http://www.msnbc.msn.com/id/23562206/

Mortgage lenders see more borrowers give up
http://www.usatoday.com/money/economy/housing/2008-03-09-foreclosures-walk-away_N.htm