The US government is looking to rent or sell property that it owns due to foreclosures. The government has struggled to clear its large inventory of foreclosures, and the Obama administration has turned to investors for fresh ideas on how to convert over 92,000 properties into rentals. This is just one more sign of how deeply the US housing market has sunk, and it so far shows little sign of a rebound.

The government hopes that selling off the foreclosures it owns to investors who will convert it to rentals will promote investment in local real estate markets, provide affordable rentals and but a base under home prices. The administration has been working with the federal regulator for Fannie and Freddie to devise new plans for disposing of single family homes which were seized in foreclosure proceedings.

Ottawa construction in the downtown core is booming and more people want to buy new homes in the city. As more condos are built space is getting tighter, and the only option is to build higher. This provides an extensive real estate listing in the area. The city council has just approved a controversial new project from Claridge Homes to construct a 229-unit condo at 70 Gloucester St which will stand 27 stories.

That is more than twice the usual height limit permitted for residential buildings of 12 stories. In 2009, the city council decided to waive development charges in order to encourage residential construction downtown, and it's possible that the plan has worked too well as the number of condos has surged since that time. The exemption expires at the end of July, so developers like Claridge Homes are racing to get their site-plan agreements officially filed with the city.

There are many things you can do to take the stress out of buying new homes on real estate listings, beginning with adequate preparation. This process should begin long before you start touring properties, and includes adequate savings for a bigger down-payment This will give you more flexibility in terms of the loan you can qualify for.

Checking your credit report in advance to correct any mistakes is also very important before you apply for a mortgage, as is educating yourself about the different types of mortgages that are available to you. During the mortgage application process, you should be sure to keep your emotions in check and never automatically sign up for the largest loan amount that is offered. You should first consider your current finances and future goals to make sure you don't take on more debt then you can really afford.