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Picking The Right Neighborhood

Picking The Right Neighborhood

You’re in the market to buy. You’ve probably given a lot of thought to the type of home you want as well as your budget and buying price range. There’s an additional topic, though, that requires your careful consideration. Which neighborhood is right for you?

Neighborhoods vary as widely as the people that live within them. Some have diligent HOA’s with strict rules of appearance and conduct, while others are more lax … sometimes to the detriment of home values.

It’s important to research the neighborhood where you’re considering purchasing a home. You want an area that fits your needs, personality, and social habits. These factors can influence your overall happiness just as much as that updated master bath or outdoor kitchen.

Read Full Story on Realty Times…

Are you looking to buy? Check out our Homeownership Simplified section a for information & tips on buying a house in Washington State as well as our handy calculators to figure out potential mortgages, closing costs, and more!

FHA retreats on tough new credit rules for borrowers

FHA retreats on tough new credit rules for borrowers

In a policy switch that could be important to thousands of applicants seeking low-down-payment home mortgages, the Federal Housing Administration has rescinded tough new credit restrictions that had been scheduled to take effect this Sunday.

The policy change would have affected borrowers who have one or more collections or disputed-bill accounts on their national credit-bureau files, where the aggregate amounts were $1,000 or greater.

Some industry experts estimate that if the now-rescinded rules had gone into effect, as many as one in three FHA loan applicants would have had difficulty being approved.

Read More on The Seattle Times…

Rent vs. Buy Decision More Than A Question of Affordability

Rent vs. Buy Decision More Than A Question of Affordability

…For a growing number of those seeking shelter, the affordability component of the rent-vs.-buy comparison takes a back to seat to finding housing that accommodates their lifestyle.

“For decades, Americans have scrimped and saved in order to buy that starter house and begin accruing equity. But do the same benefits of home ownership apply in every situation?” asks Dima Deych Marketing Director at Mayo Group, a Boston, MA-based real estate investment, development and management company.

Apparently not.

Deych says there are a host of considerations beyond affordability shelter seekers should consider before they buy or rent.

Read Full Story on Realty Times…

Check out our helpful video to follow the adventures of Bob and Sally as they learn about renting versus buying a home.

Mortgage foreclosures down in Tacoma in April, but delinquencies rise

Mortgage foreclosures down in Tacoma in April, but delinquencies rise

Foreclosures are down but delinquencies are up in Tacoma.

The analytics firm CoreLogic reported this week that the Tacoma foreclosure rate – for foreclosures among outstanding mortgage loans – fell to 2.12 percent in April, a decrease of 1.04 percent compared to April 2011.

Foreclosures in Tacoma were was lower than the national average of 3.41 percent in April, the company said.

However, the mortgage delinquency rate increased in April, when 9.24 percent of mortgage loans in Tacoma were 90 days or more delinquent. This compares to 8.52 percent for the same period a year ago.

Read More on The News Tribune…