PRE-FORECLOSURE: This refers to the period after the lender has filed the original complaint and filed a lis pendens on the property indicating the intent to foreclose. … FORECLOSURE is the legal process in which a bank or lender sells or repossesses a parcel of real property after the owner has failed to comply with an agreement between the lender and borrower.

The $10,000 tax credit is not a loan and if the home remains your primary residence for 2-years, you do not have to pay any portion of the tax credit back. … The construction of a new home generates more tax revenues than the $10,000 tax credit will cost, so the credit is limited to the purchase of new homes .

Well, that’s a good question and here’s one answer: You can get a great amount of work for your money and increase your ROI by taking advantage of the current economy and a new approach to home renovation. … People are spending more time in their homes and are spending money improving what they have; there is more of a “stay in” rather than “go out” mentality.

Generally speaking, 4-5 months supply of inventory is considered a balanced market between buyers and sellers; less than 4 months is considered a sellers’ market; and more than 5 months is considered a buyers’ market. By these definitions (as well as others), the home market in many of San Francisco’s neighborhoods is now a strong buyers’ market – which means more choice, less competitive bidding, increased price reductions, more price negotiation.

At current trends, over the next month:

• 563 active SFD listings will be joined by over 250 new SFD listings for a total of over 800: less than 1 out of 8 will go contingent sale (and most of them at thelow end).

• 674 active Condo listings will be joined by over 350 new Condo listings for a total of over 1000: less than 1 out of 10 will go contingent.

• 241 active TIC listings will be joined by over 150 new TIC listings for a total of about 400: about 1 in 16 will go contingent.

• 234 2-4 Unit listings will be joined by over 80 new 2-4 U listings for a total of over 300: about 1 in 19 will go contingent.

By Julie Haviv – Analysis

NEW YORK (Reuters) – The coast-to-coast fire sale in the U.S. housing market appears at long last to have caught a bit of a bid.

Yes, residential real estate remains in the throes of the worst downturn since the Great Depression. Yes, home prices are the lowest in six years and still falling. And yes, it still takes three quarters of a year to sell a house.

Nevertheless, the market may have turned a pivotal corner last month, if a surprising increase in existing home sales is any guide.

Comparison of SF House, Condo and TIC sales 10/15/08 – 1/30/09 with one year earlier by price range

… Total # of Sales:   down 27% – 30%*      Total Dollar Volume:   down 43% – 46%*