What do you see in your local housing market this weekend? Builder defaults? "Red Bank-based builder Kalian might want to recalculate the price of the 48 units of its Harbor Lights on the Bayshore project in the wake of a federal lawsuit that contends it has defaulted on two loans. Prices for units in the five-story high-rise range from $429,000 up to $699,900 for a penthouse unit, according to the project's brochure."

"Mayor Lisa Strydio said she and a handful of borough officials recently met with a Kalian executive who asked for a tax abatement. 'I was not too keen on the fact about giving anybody a tax abatement who paid $700,000 on a condominium,' Strydio said. 'It's just not going to fly.'"

Or auctions? "Rick Crossley arrived outside the Prince William County courthouse recently and found it deserted. 'This is a trustee's foreclosure auction,' he announced. 'Any parties with interest, please step forward at this time.'"

"'Going once! Going twice!' he bellowed, raising his voice in the gusting wind. 'Final call! Sold to Aurora Loan Services for $380,515.28.'"

"There was nobody from Aurora Loan Services, a subsidiary of Lehman Brothers, for Crossley to shake hands with or congratulate on the deal. Really, there was nothing to celebrate. The company had become the default owner of yet another piece of sinking real estate that it would have to resell."

"Crossley auctioned several more houses over the next 20 minutes. One in Woodbridge was offered for $178,000, and another in Manassas for $244,000. It didn't matter; no one showed up. And by the time Crossley was finished, seven more Prince William houses had fallen on the foreclosure pyre, reclaimed by banks."

Foreclosure tours? "Saturday, February 23, 2008, Olive Branch real estate agent Margarita LeBlanc will hold a foreclosure bus tour. In one day, she and the participants will tour 10 foreclosed homes in DeSoto, Fayette, and Shelby counties."

"'With the way the market it is today, you've always got to be looking for something to do,' say LeBlanc."

Foreclosure statistics? "Long Island foreclosures rose 48 percent in 2007 to 9,700, according to RealtyTrac. At the same time, the median closing price in Nassau County fell 2 percent in January to $440,000. The median closing price in Suffolk tumbled 6 percent to $373,500, according to the MLS of Long Island."

"'The prices can only go in that direction,' said Alan Rosenbaum, founding principal of a New York-based mortgage brokerage. 'I do live on Long Island and I do see what’s happening.'"

"Nearly 800 foreclosures were recorded in January, the highest number of Bay State homes lost during a single month since August 2007, the Warren Group said today."

"'It might have seemed like 2007 was one of the worst years for foreclosures in Massachusetts, but the rising number of petitions to foreclose suggest that 2008, at least until midyear, won’t be much better,' said CEO Timothy Warren Jr."

"A free seminar sponsored by Tracy aimed to help people ward off looming home foreclosures will be in March. In Tracy alone, there are 1,000 homes owned by banks and another 1,000 on the verge of being taken over, according to Tracy spokesman Matt Robinson."

Disgruntled borrowers? "A masked gunman held up a Prince Avenue bank Thursday morning, complaining that a bank foreclosed on his home, according to Athens-Clarke police."

"The man entered Regions Bank about 11:45 a.m. wearing a black ski mask, pointed a handgun at a teller and said, 'You took my house, now I'm going to take your money,' according to Athens-Clarke police Capt. Clarence Holeman."