National Geographic Best Fall Trips of 2012

For the complete list visit: www.nationalgeographic.com

1. International Balloon Fiesta in Albuquerque, NM
2. Devil’s Pool at Victoria Falls in Livingstone, Zambia
3. National Apple Harvest Festival in Arendtsville, PA
4. Great Masurian Lakes in Poland

A New Housing Boom

The long-battered housing market is finally starting to get back on its feet. But some experts believe it could soon become another housing boom.

Signs of recovery have been evident in the recent pick ups in home prices, home sales and construction. Foreclosures are also down and the Federal Reserve has acted to push mortgage rates near record lows.

But while many economists believe this emerging housing recovery will produce only slow and modest improvement in home prices, construction and jobs, others believe the rebound will be much stronger.

Barclays Capital put out a report recently forecasting that home prices, which fell by more than a third after the housing bubble burst in 2007, could be back to peak levels as soon as 2015.

"In our view, the housing market had undergone a dramatic over-correction during the prior five years, resulting in pent-up demand for housing purchases that would spark a rapid rise in housing starts," said Stephen Kim, an analyst with Barclays, in a note to clients.

In addition to what Kim sees as a big rebound in building, he's bullish on home prices, expecting rises of 5% to 7.5% a year. 

By Chris Isidore @CNNMoney

The pros and cons of purchasing a short sale property

Some buyers find themselves contemplating the purchase of a short sale, a property that sells for less than the balance its owner owes on the mortgage, despite the possible added complexities. If this is something that you are considering, please take note:

Pro: A major advantage to purchasing a short sale property is the price. Banks do not want a property to go into foreclosure, which is usually the next step if a short sale property fails to sell. Often buyers can purchase a property for under the market value.

Con: The disadvantage of buying a short sale is that it can be a very lengthy process. Short sales often take significantly longer than normal closings due to the amount of people involved in the transaction. The bank employs negotiators to get the maximum amount for a property and once the negotiator approves, a supervisor must review the package. You may wait for months while your offer is evaluated and the lender may reject your offer, even after having had the paperwork for a long period of time. If you do not have a flexible time frame, a short sale probably isn’t for you.

Recommendation: When shopping short sales, remember to work with a qualified real estate agent who has experience with short sales. Short sales can be complex, so it helps to ask about experience and success with short sales and familiarity with the process and lenders.