Okay, raise your hand if you remember seeing "The Money Pit" and thinking that while it certainly served up some fine Tom Hanks comedy ("Two weeks? Two weeks!") it also served as a great big red warning sign of what you're getting into when you decide to buy a fixer-upper. Okay, put your hands down. That movie and many, many horror stories like it (most of which were probably not nearly as funny) could be the reason that home buyers these days opt for the move-in ready variety.

In a recent survey, Coldwell Banker Real Estate found that just 7% of their brokers have first-time clients that are in the market for an older home that would require a little TLC (read: Time, Labor and Cha-ching!), while 81% report having clients that want their pad in tip-top shape on moving day.

There are some great deals in Chicagoland for your new home. So what will $625,000 buy you in .... say .... the Northwest Suburb of Hawthorn Woods?

How about a home in a golf course community with a first floor master bedroom?

If your home has been living on the MLS for way too long already, perhaps it's time to consider throwing in a little something extra. Now, I'm not talking about incentives like a new car or a trip to Grand Cayman (though I hear it's lovely this time of year) - I'm thinking more in terms of furniture. Yours, to be exact.

Since buyers have so much inventory to choose from, you need to make your home scream "Buy me! I'm move-in-ready and oh-so-cozy!" And one way to do that is to be open to including some or all of your furniture with the sale of your home.

The big news in real estate this week is, of course, the bailout of Fannie Mae and Freddie Mac by the federal government. The move was made in order to help stabilize the market and allow prices to begin to rebound. Word on the street is that this will also create a dip in 30-year mortgage rates, allowing more people to make a move on that new home, thus speeding up the healing process for the market.

For those of you looking to buy a new home, there's some good news. Mortgage rates have fallen to their lowest levels in months. And it has a lot to do with the government's takeover of Freddie Mac and Fannie Mae.

According to Freddie Mac, the average 30-year fixed-rate mortgage fell this week to 5.93 percent. That's the first time since May the average has fallen below 6 percent.

Just moved into your new digs? Or perhaps you've just renovated your kitchen? Whatever changes you've made to your home, chances are you'd love an opportunity to show it off! The perfect way to do that? Throw a housewarming party! If you've moved into a new neighborhood, throwing a house-warming is a great way to get to know your new neighbors and let them get to know you. And if you've just updated your home, having an open house is the perfect way to celebrate the end of the project while showing off your hard work!

Turns out satisfaction isn't so elusive after all, despite Mick Jagger's famous words. At least, it's not to buyers who have built a new home this year.

In the midst of a housing market which has left a huge inventory of homes hanging on the MLS and potential new buyers with more options than ever, builders are making extra efforts to keep their buyers happy. A JD Power and Associates customer satisfaction study, released last week, showed that home builders have received far better marks in 2008 than last year.

As many of us learned during the two-day monsoon that swept through Chicagoland last weekend, even the most high-quality construction is no match for mother nature. In my building we learned that our damage was due to the fact that our sump pump had simply been overwhelmed by the amount of work that was required to keep up with the rain and decided instead, to lay down and take an extended nap. Mr. Sump has since been fired.

But the thing is, you'd be hard-pressed to find someone who did not suffer water damage last weekend. So, if you've become all too friendly with your wet-vac recently, then read on!

Think you know all there is to know about buying a home? Take this quiz from Freddie Mac to find out if you have the information you need to make one of the biggest purchases of your life!

We're all looking for ways to lower our bills and still, somehow, continue to enjoy the lifestyles to which we've become accustomed. So, if you're building or renovating a home right now, there's good news for you. Adding energy-efficient products and parts to your house is a great way to not only save on your monthly power and water bills - but also to add some built-in appeal to your home when you put it on the market in the future. Some ideas?

As upbeat as we'd like to be about the current market (and believe it or not, there really is a silver lining - especially for new buyers) the fact is, many people are losing their homes due to foreclosure. And these days, you just can't have enough information when it comes to real estate. According to Freddie Mac, there are warning signs that you can look out for to avoid losing your home.

Yup, I thought that might get your attention.
In case you haven't caught the news lately, the economy has seen sunnier days. But while the decision-makers in DC try to hammer out a plan that will stick, first-time home buyers already have what they need to get out there and take advantage of this housing market. There is, of course, the big federal tax credit for first-timers that we've heard so much about - but did you know that our state and city governments are offering some financial perks as well?