It's March, and as spring fills the air, realtors everywhere breathe a sigh of relief and prepare for a more hopeful market. Spring brings out both buyers and sellers, and the increased activity also tends to bring a little bouyancy to home prices. But while pundits everywhere herald the end of the real-estate crisis, some U.S. markets are wrestling with seriously grim foreclosure numbers. 

For the savvy foreclosure investor, these markets represent a heavy concentration of great deals, highly motivated sellers and terrific profit opportunity.

It seems these days it’s hard to put a finger on the price of a home.

For one thing, the economy continues to shift causing fluctuations in various markets. For another, prices are based on comps – and comps have been affected by short-sales and other distressed-owner sales.

DEAR BENNY: I read with interest what you wrote about putting rental properties in LLCs. What can you tell me about the new series LLCs for real estate investors? It appears they can be formed only in certain states, but would they be recognized in all states? --Elizabeth

DEAR ELIZABETH: The "series LLC" is a new, untested concept. Oversimplified, it is a "master" limited liability company, composed of two or more limited liability companies.

DEAR BENNY: In your column a few weeks ago you mentioned a book written about condos and townhomes. Could you please give me the name of the book and where I can buy it? --MaryLou

We are happy to confirm that the $8,000 first-time home buyer tax credit has in fact been extended.

The tax credit, originally set up as a no-interest loan back in 2008, was converted this year as a full tax credit as part of the stimulus package for "first-time" buyers only.  The new law extends the tax credit to all sales up to April 30, 2010, and extends the credit to existing home owners as well.

According to the Associated Press, the House voted 403-12 in favor of the law granting the extension.