The Journal News reports from West Virginia. "Amid the backdrop of continuing gloomy forecasts for the housing market, a group of more than 25 local realtors, builders and financial institutions gathered Sunday in Martinsburg and Shepherdstown for potential homebuyers to take advantage of a one-day super sale. The event showcased homes, townhomes, land and foreclosures priced to move."

"Those properties real estate agents showed Sunday were set at the absolute lowest prices. For example, one deal saw up to $100,000 off of a lot in Shepherdstown, while some houses listed in the $225,000 range were being offered for as as low as $169,000."

"'I think anything you do is better than doing nothing. In this market, you’ve just got to do something. You’ve got to make it happen,' said Realtor Tim Hafer, who works in Martinsburg."

The News Herald from Ohio. "The housing market is hurting from foreclosures in suburban and rural Geauga, Lake and eastern Cuyahoga counties, but not as overwhelmingly as in urban and inner-city areas like Cleveland."

"Cuyahoga County has recorded 10,000-plus foreclosures so far this year. About 5,300 of those were in Cleveland and 3,800 in its inner suburbs, including Euclid. The Sheriff's Office said such sales reached 7,461 in 2005 and 10,216 in 2006."

"'In 2002, 2003, 2004 and some of 2005, when the housing market was really booming, people were put into a house that they really couldn't afford,' said County Auditor Tracy Jemison. 'Lending institutions were coming up with loans that were easy to make. The housing market stalled, and now, people are stuck with homes and loans they can't afford.'"

"'These people were literally afforded more loans than they could afford. That's had a lot to do with it. It's really sad,' said Clerk of Courts Denise Kaminski. 'We created monsters who wanted only what they want. Unfortunately, the banks were going too far.'"

"When it comes to building a new house, timing can be everything. Just ask Grayson Alexy, who last year started construction on his third new home - this one in Kirtland."

"'I made the decision to build a home in Lake County probably 18 months ago, and the economy 18 months ago isn't the same as it is today, Alexy said."

"Alexy could have decided to purchase an existing home, but based on timing, he decided to build instead of buy. 'Would I build a new house right now? Of course not,' Alexy said. 'There's a surplus, and I could probably buy a home cheaper than I could build one.'"

"The dip in housing starts can be attributed to an oversaturated market, said David Payne, VP of Chardon-based Payne & Payne Builders Inc. 'I think that the market got ahead of itself for a couple of years in terms of new buildings,' he said, referring to 2003 through 2006. 'There was an increased level of activity locally, apparently beyond what might have been needed.'"

"'Much of it is attributed to overbuilding - it was easier to obtain funding a few years ago, said Dan Tasman, principle planner for the Lake County Planning Commission."

"Houses were being built, and bought, which led to prices going up - but not any longer. 'It fell like a house of cards, and now you're seeing home prices fall dramatically in those areas,' Tasman said, 'but Cleveland never got that high.'"

From WBKO in Kentucky. "The collapse of risky loans has set the housing market on its ear in some parts of the country. The ripple effect can even be felt here in South-Central Kentucky."

"'Guidelines are changing daily. Programs available yesterday will not be available tomorrow, explained Mark Vaughn is a mortgage lender at Citizens First Bank."

"Realtor Jennifer Misener admits buyers are aware of the turmoil. 'We do find that buyers are a little more apprehensive now due to the national media attributing this to a sub-prime market, but honestly our market is still very good,' Misener assured."

"Economists caution against overweighting the importance of the housing sector on the overall economy. 'I would argue this is more of a correction than a catastrophe,' said Dennis Wilson, a WKU Economy professor."

"The biggest problem is concentrated in seven states--Michigan, Ohio, Indiana, California, Florida, Arizona and Nevada. 'Over the last eight years you've seen real estate prices go through the roof. So to get people qualified to get in those houses, they had to force them into these huge mortgages,' Wilson explained."

From KFVS 12 in Missouri. "If you're trying to sell a house right now you know the market is in a slump and according the the National Association of Realtors, things are expected to get worse in 2008."

"Record numbers of people are losing their homes to foreclosure because they simply can't afford to make the payments, but there are some things you can do to avoid foreclosure and to get back on track after one."

"'Lenders started getting creative in the last few years because the housing market was so strong,' said Tammie Goodson, a VP of First Missouri State Bank in Cape Girardeau. 'Do you ever remember seeing this many foreclosures in your career? No. And we bankers blame it on the sub-prime lending markets.'"

"It's everywhere. California, Florida and Ohio have the highest foreclosure rates. Stockton, California is the worst top 100 city in the United States for foreclosures with 7000 filings, up 465 percent from last year. Memphis is 14th on the list, St. Louis is number 56."

The Wichita Eagle from Kansas. "A once-hot corner of the local real estate market has grown chillier than the prairie wind in November."

"Investors from California, Florida and other warm states used to love Wichita's duplexes, condominiums, fourplexes and small apartment projects as low-risk, steady-return investments."

"But with the popping of the housing bubble -- most notably in California and Florida...small-time investors from out of state can no longer afford investment property in Wichita. 'Mom and pop are out of the market,' said Wichita real estate broker Rod Stewart."

"Stewart said he did as many deals in the spring as he has ever done. Then the phone stopped ringing. 'Since May 17, I haven't made a nickel,' he said. 'The market has cratered and burned.'"

"The number of building permits for duplexes has fallen from 36 in the first 10 months of 2006 to 27 through October of this year. As a comparison, nearly 1,400 new single-family homes were placed on the market in the first nine months of 2007."

"Broker Kirk Short specializes in channeling California investment money into Wichita projects. He said the biggest hurdle is that banks have sharply tightened credit requirements on California investors. Seasoned investors now have to put down 20 to 30 percent of the purchase price or have higher mortgage insurance."

"Short said that in one twin-home project in Junction City he has marketed, half the units are unsold because the buyers couldn't get financing. 'They can't close,' he said with disgust. 'Half the sales in that project are gone because they can't close.'"

"Agent Brandon Tidemann specializes in matching investors in search of stable cash flow and steady appreciation with small projects. Most are people who have sold out of riskier markets and want to protect their gains with property that won't fall in value."

"There aren't just a lack of buyers, he said, there also is a lack of good properties to sell. 'There's a lack of buyers and a lack of sellers,' he said. 'For the last six months I haven't seen any good, quality product out there to buy.'"