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World economic recession and current meltdown hit every sector of business. As a sign of the recent troubled economic times is going to be on display 29 March as Real Estate Disposition Corp. (REDC) auctions off over 350 foreclosed homes. The deal will be held at an event at the Minneapolis Convention Center and starts at 9:30 a.m. The auction includes a 17-room, four-bedroom, 5,656-square-foot mansion in Cedar. It will have a starting bid of $299,000. In another deal, an eight-bedroom, 3,372-square-foot mansion in St. Paul, and it will have a starting bid of $149,000.

CEO of Irvine, Calif.-based REDC, Jeff Frieden, said his company is the “silver lining” of the foreclosure crisis. In a press release he said “While it’s troubling that people have lost their homes through foreclosure, many others are realizing their dream of owning a home through our auctions.” The company conducted a record 300 auctions last year, auctioning more than 32,800 homes. After coming in operation in 1990, REDC has sold around $5 billion of real estate assets. Among the amount last year it sold $3.4 billion.

Cheryl Smith, a woman of Lakeland, Florida is the winner of the  HGTV Dream Home in Sonoma, Calif. valued at above $1.8 million who has entered the giveaway every year for the past 10 years, and at last learned last week that she had won. She was thrilled to hear she’d won million dollar house.  58 years old Cheryl Smith said in a telephone interview that,

“It was amazing and we couldn’t believe it.” She also added that, “This is so exciting that we’ve been unable to sleep all week,”

Cheryl’s name was drawn from almost 40 million contestants. In adding together to the custom-designed, fully well decorated home, the $2 million award package includes a corresponding Doggy Dream Home and 2009 GMC Acadia.

For the moment though, she says the whole family is enjoying the attention. The retired pair plans to visit the dream home in April.

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A group of Israeli peace activists claimed 2 March that Israeli housing ministry takes a plan to build over 73,000 new homes in West Bank Jewish settlements. The decision has been taken just ahead of the arrival of Hillary Clinton on her first trip as US secretary of state in Israel.

The organization group, Peace Now said the numbers is taken from a government website. The site is showed that already at least 15,000 units have been approved for construction, and approval pending for a further more than 58,000 new homes. The activists claim that the plans amount to a doubling of the number of populace living in Jewish settlements. The group Peace Now also said already construction work has begun 9,000 homes.

The incoming Israeli administration is expected to step up construction in the 125 settlements, home to over 280,000 Israelis. The considered construction includes more than19, 000 units west of Israel’s security barrier in that area earmarked as the future Palestinian state, with 5,722 homes in east Jerusalem, claimed by Palestinians as the capital of such a state. Analysts say the recent planed may intensify militancy in this reason.

US housing sector is passing now a crucial moment as home price hit record lows in December 2008 at the same time that buyer confidence was showing signs of collapse. According to report, the consumer confidence index has dropped to 25.0, the lowest since the index began in 1967. American housing statistics has shown declines of 18.5%, with the S&P/Case Shiller home price index showing the pace of decline is picking up. On other hand, S&P economists have recommended prices will most likely continue falling in the months ahead, extending a 13-month-old recession. So, home sellers are anxious what they should do in this circumstance.

Bay region home sales increased above a year ago for the fifth successive month in January as home buying remained sluggish in pricier coastal markets but grew up in many local areas, according to a report on this Thursday by MDA DataQuick.

MDA DataQuick said a total of 5,050 new and resale houses and condos closed escrow in the nine-county bay area last month. That was down 26.7 percent from 6,889 in December but up 40.8 percent from 3,586 in January 2008 and the median price fell to $300,000, approximately half of where prices stood a year ago. Last month’s sales were the third-lowest for a January since 1988, when DataQuick’s statistics start, and 20 percent lower the average for the month. January sales were from a low of 3,586 in 2008 to a high of 8,298 in 2005.

Now, in the mind of every person who is related with real estate business has one of the most common questions is, when will things get better in the housing market?

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