A report from Westword in Colorado. "Fortunately, the real estate game in Denver has moderated in recent months, giving first-timers their best chance in years to find the abode of their dreams. But how do novices get started? And what are the key things they need to know? We reached out to managing broker and owner of RE/MAX Urban Properties Lori Abbey."

"'Depending on your income levels and whether it's a one- or two-person household, there are grants available where sometimes you can come to closing with nothing,' she reveals. For example, 'one recent client actually got $1,000 back at closing.'"

"How? The client was a teacher who qualified for two grants — one through the Colorado Housing and Finance Authority and a second via a separate, national program that specifically targets home buyers from her profession. 'She had to bring less to the table because she was a teacher and ended up being able to close and get $1,000 back,' Abbey reports. 'All of a sudden, she owned a home for the first time in her life — and it's probably worth $40,000 more now than it was when she bought it.'"

"Abbey points out that 'there's an additional benefit if a home with a government-backed loan has been foreclosed on. Teachers and officers can buy some of those properties at 50 percent off, and that includes the down payment. There are a multitude of qualifications, but if you meet all of them, it's a pretty fabulous deal.'"

"According to her, 'The best way to get $100,000 over three years in Denver is to purchase a home. It's much easier than trying to save $100,000. You win with tax benefits and you win by gaining equity, which is the same as net worth.'"

"She continues, 'I recently put in three offers over five days where I was one of five to seven offers — and we won all three of them. These were all three houses listed at $395,000, and we got them for between $403,000 and $408,000. So they were over list, but not by very much. If they'd been up for sale this time last year, there would have been ten to fifteen offers, so that means your chances of winning have gone up by 50 percent. And they would have sold for more over list — $410,000 to $415,000, for sure. The prices are going over by a little less, and there's a little less competition.'"

From Moneytips. "Some trends fade and then return after a few decades or so, like bell bottoms and tie-dye. Unfortunately, that's true for financial trends as well as clothing. Higher-risk mortgage lending is on the rise again as consumers stretch to overcome soaring home prices and tight credit requirements."

"According to data from Inside Mortgage Finance as reported in the Wall Street Journal, approximately 30% of loans that were securitized by the government mortgage backers Fannie Mae and Freddie Mac went to homebuyers with debt-to-income (DTI) ratios of more than 43%. That's almost twice the amount of such loans issued in 2015. Why does that matter? A 43% DTI is generally considered the upper limit for acceptable risk."

"The original credit-tightening effort included some relief for low-income borrowers through the qualified mortgage 'patch.' Qualified mortgages establish the minimum guidelines for mortgage loans to be purchased and backed by the government, including the 43% DTI limit. The patch established an additional category of qualified loans for borrowers with DTIs greater than 43% but other positive factors mitigating risk."

"The patch will expire for Fannie Mae and Freddie Mac at the beginning of 2021 – thus, homeowners on the edge of affordability are rushing to buy homes while they still qualify. The Urban Institute estimates that 3.3 million mortgages were originated under this exception between 2014 and 2018."

"Are we headed toward another housing crisis? Probably not – credit is still far tighter than it was during the creation of the housing bubble, and the securities appear to be properly assessed. You can't prevent a future housing bubble, but you can decide not to contribute to one. Usually, there's at least one lender willing to lend you more mortgage funds than you can afford to pay back."

The Business Observer Florida. "A Miami developer has abandoned plans for a pair of ambitious high-rise condominium projects just outside downtown Fort Myers and is offering two sites for sale for a combined $16.2 million. Brokers say Jaxi Builders’ decision to shed its waterfront land has more to do with product type than market conditions, though, and that the vacant 5.7-acre property might be better received as a site for apartments, a hotel or a combination of the two."

"Jaxi’s Allure project was perhaps the most ambitious of a handful of residential offerings proposed for downtown Fort Myers in the past five years that were slated to yield some 600 residences. The company’s decision to shed the properties also raises questions about other proposed developments that have yet to begin construction, including Prime Luce, another condo project proposed for First Street. Jaxi Builders Vice President Eduardo Caballero did not return telephone calls regarding the Fort Myers properties, and employees in the firm’s Miami offices declined to comment on the decision to sell and say they have 'no more information' on the proposed projects."

The Commercial Observer. "Currently, California has increasingly become a tale of two states, with housing more plentiful for both the very wealthy and low-income, but gutted when it comes to the middle class. 'We aren’t creating enough attainable housing. I’m not even talking about affordable housing,' said Shlomi Ronen, founder of Los Angeles-based Dekel Capital. 'I think we’re good at building affordable housing for low-income [folks]. We’re good at building luxury housing. What we lack is housing for the middle-of-the-road person that has a decent [paying] job and wants to be able to live in the city.'"

"Larry Kosmont, CEO of Manhattan Beach-based Kosmont Companies concurred. 'The issue that we’re facing in California is portrayed as a housing issue, but to me it’s also a jobs issue. For the most part, we’re just creating jobs that pay $15 an hour in this economy or at the very high end because of the tech industry and at some level the creative industry in California. What we’re not creating is the middle range of jobs [for people to] afford the middle range of housing,' Kosmont said, which in California averages around $500,000 to $800,000, depending on the county. 'If we could create—‘poof!’—[the] 3.5 million units that we are short, we [still] wouldn’t have 3.5 million buyers who could afford the pricing on those houses.'"

From The Mortgage Reports. "There’s never been a better time to buy a home — at least not in the last three years. According to a new analysis from First American, national housing affordability has finally increased, marking the first time in three years it’s seen a jump."

"As Mark Fleming, First American’s chief economist, explains, 'What began as a modest shift toward a buyers’ market in six cities last month has expanded into a national shift in affordability.' First American’s analysis shows that 15 of the 44 biggest metros have seen 'real' home prices decline."

"The biggest dips in real home prices were seen in San Jose, California (with prices down 7.6 percent); Seattle (-6.4 percent); San Francisco (-4.4 percent); Portland, Oregon (-3.9 percent); and Los Angeles (-3.1 percent). At the state levels, Wyoming, West Virginia, Louisiana, Alabama and Oklahoma saw the biggest dips. ' Given the trend nationally, it’s no surprise that more markets experienced falling real house prices,' Fleming said."