California cities which have been hit hard by foreclosures are seeing multiple offers creating a buying frenzy and price increases.

U.S. home values fell for the ninth consecutive quarter during the first three months of 2009 leaving one in five American homeowners with negative equity in their homes. The first quarter Zillow Home Value Index fell to $182,378, a decline of 14.2 percent over the same period in 2008. The last time the market was at this level was the first quarter of 2004.

There is hoe for improvement or replacement of your home in the current market. New book presents 5 tips on how to save 20% to 40% of your house improvement costs.

The good news is the Center for Economic and Policy Research believe the real estate and housing "bubble" will be over by the end of 2008.

Mortgage rates have held steady for the past couple of weeks but it look as if they are on the rise once again. This may be a bad time for an increase in mortgage rates as signs show that home values, in some markets, have begun to appreciate.