Guy Adams

Some parts of the United States have been less affected than others by the economic downturn.

"If people are looking for a job and they're in Detroit, they're in the wrong place. They need to be considering geographic mobility," says Ernie Goss, professor of economics at Creighton University in Omaha.

BusinessWeek magazine, with help from staffing firm Manpower, has examined job opportunities all across the country, ranking metropolitan areas based on the percentage of companies planning to hire in the third quarter.

Here are the top 10 places it identified as offering the best opportunities for anyone looking for a fresh start:

1. Anchorage, Alaska
2. Provo-Orem, Utah
3. Kennewick-Richland-Pasco, Wash.
4. Yakima, Wash.
5. Omaha, Neb.-Council Bluffs, Iowa
6. Richmond, Va.
7. Winston-Salem, N.C.
8. Colorado Springs
9. Amarillo, Texas
10. Washington, D.C., Arlington-Alexandria, Va., plus areas in Maryland and West Virginia

Source: BusinessWeek, Prashant Gopal (06/09/2009)

Thirty-eight of the country's top 100 metro areas avoided declines in home prices in the past year, reports the Brookings Institution's quarterly MetroMonitor, which tracks indicators of economic recession and recovery in these areas.

Areas with stable home prices were concentrated in the less-affected parts of what Brookings calls the "Manufacturing Belt," Pennsylvania and upstate New York, and the Sun Belt: Texas, Oklahoma, Arkansas, and Louisiana. These areas also had below average shares of properties affected by foreclosure.

Cities whose economies were the strongest had businesses involved in oil and gas exploration, military employment, education, and government.

Here are the top 10 and the bottom 10 metro areas, according to how MetroMonitor ranked their economic health:

Top 10
1. San Antonio
2. Oklahoma City
3. Austin
4. Houston
5. Dallas
6. McAllen, Tex.
7. Little Rock, Ark.
8. Baton Rouge, La.
9. Tulsa, Okla.
10. Omaha, Neb.

Bottom 10
1. Providence, R.I.
2. Toledo, Ohio
3. Stockton, Calif.
4. Fresno, Calif.
5. Modesto, Calif.
6. Jacksonville
7. Lakeland, Fla.
8. Tampa
9. Bradenton, Fla.
10. Detroit

Source: The Brookings Institution (06/17/2009)

That didn't take long. Tax credit forms and rules are now in place for those who want to claim the $8,000 first time homebuyer tax credit, which was part of President Obama's stimulus bill - aka, the massive $787 billion American Recovery and Reinvestment Act of 2009.

Who is eligible for the $8,000 tax credit?

• First-time homebuyers who have not owned a principal residence for three years prior to purchase.
• The home must be purchased between January 1, 2009 and before December 1, 2009 (special note: the final date is December - not Dec. 31).
• Buyers must make less than $75,000 for singles or $150,000 for couples (higher-income buyers may receive a partial credit).

How can I claim the $8000 tax credit?

• You can claim the tax credit on the 2008 tax returns due April 15 or on the 2009 tax returns next year. Or, if you've already completed your tax return, you can file an amended return to claim the credit.
• The claim can be 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately.
• Claim the tax credit on your federal return by completing IRS form 5405 to determine your tax credit amount, and then claim this amount on Line 69 of your 1040 income tax return. No other applications or forms are required, and no pre-approval is necessary.

Does it have to be repaid?

• No. Unlike the $7,500 tax credit that needed to be refunded under last year's Housing and Economic Recovery Act, this does not have to be repaid as long as the home is your main home for 36 months after the purchase date.

By: Diane Tuman, Zillow Content Manager | March 2, 2009

Seven-time Tour de France winner Lance Armstrong recently used Twitter to announce the arrival of his fourth child, but nary a word about a price drop on his magnificent estate in Dripping Springs, TX. Armstrong's 447-acre property at 560 Deadman's Hole, Dripping Springs, TX 78620, was just recently reduced to $10.5 million - a $1.5 million price drop from its original $12 million asking price.

According to Statesman.com, Armstrong had the house built in 2003 and it has "...seven miles of hike-and-bike trails, Hill Country views and 1,886 feet of frontage on the Pedernales River, as well as ownership in Dead Man's Hole, the famous natural swimming pool." This is where Armstrong wrote "Every Second Counts," his best-selling memoir about his battle with cancer, explaining that he would challenge himself by jumping from the ledges around Dead Man's Hole.

The home contains 5 bedrooms, 5 bathrooms, has an infinity-edge pool, fire pits, and is 4,241 square feet. Dripping Springs is located about 25 miles west of Austin, TX.

By: Diane Tuman, Zillow Content Manager | June 15, 2009

New Tools for House Hunters
New technology continues to make it easier for shoppers to identify homes to buy. Here are some of the latest and greatest.

• There's an iPhone app for that: Zillow.com released a free iPhone app that allows consumers to check out homes for sale. The GPS-powered app allows shoppers to drive by a home for sale and see price and other details like number of bedrooms and baths.
• Search for ROI: Web sites like Investorloft.com rank homes by the profits they produce and identify properties with big differences between listing price and estimated value. The site has listings in 20 states and will be in all 50 by early 2010.
• Search for falling prices: Trulia.com will let you look for price reductions. Enter a zip code and reduced listings will come up.
• Guided tours on YouTube: Coldwell Banker has partnered with YouTube to launch a homes-for-sale video channel.
• Project value for $9.95: Cyberhomes is offering a market report for slightly less than $10 that provides neighborhood price projections and 12- to 24-month price-change forecasts. It also identifies the number of distressed, foreclosed, and REO properties nearby.

Source: CNNMoney.com, Les Christie (06/15/2009)