First it was new housing starts and now it’s existing home sales.

National Association of Realtors(R) today issued a report that should be considered more good news for the struggling national housing market, revealing that the sale of existing homes increased 5.1 percent between Jan. and Feb. 2009.

The annual rate grew from 4.49 to 4.72 million units during that span, which marks the largest jump from month-to-month since July 2003. The reason?

Foreclosures!

Yep, the report indicates that smart buyers gobbling up discounted foreclosure homes is likely the reason behind the spike. We keep telling you … strike while the iron is hot! These amazing real estate deals clearly don’t last very long.

To search Foreclosure.com for the best deals in your area click here. It’s FREE for seven days.

Curtis Sleeper and his cave-dwelling family appear to have found a way to remain in their one-of-kind 15,000 square foot home inside a Festus, Mo., cave.

Associated Press reports that a 15-year low-interest mortgage contract has been offered to help the Sleeper’s extend their stay indefinitely, which is of course cause for celebration.

Here’s a snip from Mr. Sleeper on the positive development:

“We’re excited about it. We’re throwing a party at a friend’s cave…. It’s certainly been almost life changing — except I’m keeping my cave, so not that life changing. I’d love to hear the end of the story read, ‘and they lived happily ever after.’”

It sounds like it will. And he more than likely has himself to thank for it after an impressive local grassroots public relations effort turned into a major national story.

Indeed, his initial listing on eBay to sell the home, which is situated on a scenic three-acre lot, at a starting bid of $300,000, as well as his heartfelt story behind its creation, was an Internet and cable news sensation.

For more details on the amenities and all the blood, sweat and tears that went into building “Cave House” be sure to check out Sleeper’s very detailed Web site right here. And to check out the eBay listing go here.

But be sure to do it fast before the Sleeper’s spelunk back into the cozy confines of their cave and return to relative obscurity.

Even the homeowners in the soon-to-be longest running sitcom on television ever (21 years), Homer and Marge Simpson, are having trouble making their mortgage payments:

… and the best source for foreclosures and other distressed real estate data available anywhere, according to HitWise.com:

So search with confidence for the lowest home prices in your area … everyone else does! CLICK HERE.

That’s the startling word from a feature article released today by the Associated Press.

Most of the homes currently on the auction block in Detroit, Mich., can not be had for a single George Washington; however, the fact that bids are starting out so low in some cases underscores the current economic turmoil that has choked “Motor City.”

The unfortunate high foreclosure rate in Detroit is tied to the struggles of the region’s largest employer, General Motors, which has been forced to layoff thousands of homeowners in the area because the automaker has fallen on hard financial times.

The article indicates that at least 1,800 homes are now available for purchase for a thrifty $10,000, which is about ten times less than the market value just a few years ago. It’s remarkable deals like this that has piqued the interest of international investors who are looking to gobble up land on the super cheap.

Here’s a snip from one of them, Darren Veness of England, on his reasoning for investing in Detroit real estate:

“Do the math, you can buy and rehab a home for $20,000, then rent for $900 a month. Three to four months of the year, rent is going to pay the taxes…. We just want to build our portfolio as big as we can. I know Detroit has been in a mess … and I think now is the time. The next 10 years, it’s going to change. If my investment still pays for itself, why am I going to leave it?”

Indeed, investing in Detroit foreclosure homes today will more than likely not earn you a staggering profit tomorrow. However, the long-term payoff could be significant if you are able to hang onto a property — maybe even rent it for a few years — and hope that the economy there turns around sooner rather than later.

It’s not often that you come across homes for less than $10,000 — or even $1 — in a major city such as Detroit. You may want to check out what’s available on Foreclosure.com right here before foreign investors snatch up all the good inventory.

And if you’re real serious we recommend reaching out to a local expert in the area through our Broker Network. Our local agents and brokers are on the ground and know what areas are right or wrong for you — it’s nearly impossible to make a sound investment decision without knowing as many facts as possible.