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Mortgage Giants to Reduce Loan Balances

Money

About 50,000 struggling home owners could be eligible to have their mortgage balances reduced under a new plan to be unveiled by Fannie Mae and Freddie Mac, The Wall Street Journal reports. The plan was approved by the Federal Housing Finance Agency and is expected to be formally announced “within the next few weeks.”

The plan is expected to target home owners who are delinquent on their mortgage payments and who owe more on their home than it is currently worth. Fannie and Freddie also will reportedly forgive the principal only in circumstances where they determine that they would lose less money by doing so than taking other foreclosure-prevention methods.

Read the full story…

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Cities to Watch: 2016’s Fastest-Growing Places

United States

The South and West score big in a new Forbes list of the fastest-growing cities. Factors in the Forbes analysis include population, economic and job growth, and median pay for college-educated workers. Find out where Seattle lands and who rocks the top 10!

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Decks vs. Patios: Which Is More Popular?

Martin deck

Patios are winning. In 2014, a majority of all new homes – 56 percent – were constructed with a patio. On the other hand, 23 percent of the new homes had a deck, according to the U.S. Census Bureau’s Survey of Construction.

While patios or decks both let you enjoy the outdoors, the differences matter. Patios are like courtyards and can be attached to or separate from a house. They can take any shape and can be built using any type of material. They’re always at ground level so they do not require railings, as decks do. Decks, typically made of wood or composite wood material, are not usually built at ground level so they can be used to enjoy a great view.

Read more…

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Home Features Most Desired by Age

Home Tour

Home buyers are demanding more home features that help them save energy and keep the home organized, a new study released by the National Association of Home Builders, “Housing Preferences of the Boomer Generation: How They Compare to Other Home Buyers” reveals.

However, the generations – millennials (born 1980 or later); Gen X’ers (born 1965-1979); baby boomers (born 1946-1964); and seniors (born 1945 or earlier) – do show some differences in what home features they value the most. In a nationwide survey of more than 4,300 home buyers, NAHB pinpointed those differences and which features each generation most desires.

The following are the home features most wanted by each generation…

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Signs of a Bad Moving Company

Moving

About 16.5 million households – or 38.7 million Americans – move annually. But Americans need to carefully screen those who help them move to make sure all goes smoothly in relocating their belongings.

U.S. News & World Report recently highlighted these three warning signs when choosing a moving company.

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March 2016 RE/MAX National Housing Report

March 2016 National Housing Report

As the popular home buying season approaches, February sales saw a jump from both January and last February. The year-over-year change was 4.8% and the increase over January was 5.8%, which is in line with the 5.2% average seen in each month of February since 2009.  Over the last 12 months, the average year-over-year increase in home sales has been 5.8%, and only two months, November and October, experienced sales that were not above year-ago sales. The Median Sales Price of all homes sold in February was $198,000 or 5.9% higher than the price in February 2015. Price increases have moderated over several months, with month-over-month declines seen in 6 of the last 12 months. The inventory of homes for sale remains very tight in many markets across the country, with February seeing a level that is 13.3% lower than a year ago. At the rate of home sales in February, the national Months Supply of inventory was 4.0, down from 4.7 in February 2015.

Read the full article in RE/MAX’s Newsroom…

Watch the short video on YouTube…

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14821 122nd Ave E, Puyallup, WA 98374

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Don’t miss this large, private and peaceful corner lot!

$249,500

3 bedrooms; 1.75 bathrooms; 1,866 square feet

You’ll appreciate the open floor plan great for entertaining with an eating area that flows to dining and family rooms. Enjoy lots of natural light with many windows, a skylight and solarium. There’s plenty of room for toys with the extra-long paved and gated RV/boat parking + additional parking in front and back. Spacious kitchen, master bedroom and utility room with extraordinary storage. This home has been lovingly maintained, is move-in ready and simply awaits a new owner!

Sold 6/30/2016

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The Lowdown on Teardowns

Important

The practice of demolishing a home to build another has changed significantly since the Great Recession. Understand when it’s smarter to demolish a fixer-upper, rather than remodel it.

Read the article…

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8 Bad ‘Home Improvement’ Habits

Checklist

Home owners can overdo it when it comes to the upkeep of their home. This Old House recently spotlighted several ways that home owners’ enthusiasm for home ownership may actually harm the house.

Read the article…

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Budget Kitchen Remodeling: 5 Money-Saving Steps

Visit houselogic.com for more articles like this.

Copyright 2016 NATIONAL ASSOCIATION OF REALTORS®