One of the key attractions of FHA mortgage financing is going, going -- but not quite gone. Sellers and buyers who move fast can still make the most of it.

Sometime this summer, the Federal Housing Administration plans to slash maximum "seller concessions" from 6 percent of the home price to 3 percent. Seller concession rules allow buyers to look to the property seller to pay for some services and taxes connected with the transaction -- loan origination and local transfer fees, appraisals, inspections, closing and escrow costs, among others -- though not the down payment. (Washington Post)

Home prices remained weak through the early months of this year, according to a closely watched housing index released Tuesday, an indication that the housing market continues to struggle despite recent improvements. (Washington Post)

The buyers are back in the Washington area home market, according to a market trends report released Tuesday by MRIS (the local multiple listing service) and real estate research firm Delta Associates. (Washington Post)

If you are planning to take out a mortgage or refinance, you might want to hear this blunt message from federal officials: Don't fly blind. When you're shopping among competing lenders for the best terms and fees, make sure you know which quotes come with a guarantee and which do not. (Washington Post)

With all the bad news about underwater homeowners and strategic walkaways, you might think that American homeowners' equity holdings are in the tank. But the least-publicized recent statistic on real estate is that, despite these scary reports, home equity is again on the rise. (Washington Post)

Income tax returns are the most imaginative fiction being written today."

-- Herman Wouk

The concept of "principal residence" is critical in our tax laws. To qualify for the first-time-home-buyer tax credit, the house you buy must be your principal residence. If you want to claim the exclusion of up to $500,000 in capital gains ($250,000 if you are not married) when you sell your home, that property must be your principal residence. (Washington Post)