Luis Valencia
I think In magento you can create a Featured category for home page product. where you can shows only that product which is featured category. and you add there only in stock product
Its easiest way in magento showing a featured product.
How to create featured product in magento. http://www.magentocommerce.com/wiki/5_-_modules_and_development/catalog/how_to_create_a_featured_product
foreach ($_productCollection as $_product)
then you can use $_product->isInStock() or $_product->isSaleable() function as if and else condition
Thanks