What do you see in your housing market this weekend? Notice any builder incentives on the web? Visit an open house this weekend?

Here's an observation sent in by a reader. "The Central Valley of California (Visalia to Redding) is literally piling up with unsold new construction. Just a massive number of very large developments all rushing to build out. I'm near Merced, Ca. and a single middling builder has 140 homes built and unsold, and in a town of 17,000 homes there could be as many as 2,500 under construction as I write."

"And they are just not selling. Inventory has gone from 157 (6/1/05) to 815 today. Anyway, I truly believe (yeah, right, everywhere is special) that this region will see THE implosion soon."

And another wrote. "A local Santa Cruz real estate radio guru just sent this to me: 'Special Financing, Grants, low and NO interest rate loans ARE available! Do you qualify? Hello everyone, hope you are all staying dry in this weather! I wanted to bring to your attention a very special workshop that we will be holding to discuss and explain some incredible financing programs that exist today YET many people do not know about. The following people qualify for many of these programs: School Teachers, District Emplyees, City & Public Employees, First-time buyers (you can own a home now and STILL qualify!)"

"There are currently many programs such as: LOW Interest Rate Financing, NO INTEREST loans - SERIOUSLY! Down-payment assistance programs, Closing costs assistance programs, Grants."

"Seriously folks, this is no joke. You can make well over $100,000 per year and still qualify. Don't believe me? Tune in to my TV Show as a lender who currently specializes in these loans and a City REPRESENTATIVE comes on my show to explain some of these incredible programs!"