The idea of putting green features into a home sounds great, but, like other investments, home owners want to know they're getting at least some of their investment back when they resale, and home buyers want to know exactly what they're getting and paying for.

Both continue to be tricky issues when it comes to marketing a "green" home and placing a value on it, particularly at a time when the nearest comparable sale may be a foreclosure or bank owned home down the street.

"Greenwashing" has landed in the housing market, and it's proving to be a irritant that requires housing market professionals to become sleuths, as evidenced by complaints from real estate agents and builders from throughout the country who attended Greenbuild, a national conference on…

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Add the following supplies to your disaster supplies kit:
* Rock salt to melt ice on walkways
* Sand to improve traction
* Snow shovels and other snow removal equipment.

Prepare your home and family
* Prepare for possible isolation in your home by having sufficient heating fuel; regular fuel sources may be cut off. For example, store a good supply of dry, seasoned wood for your fireplace or wood-burning stove.
* Winterize your home to extend the life of your fuel supply by insulating walls and attics, caulking and weather-stripping doors and windows, and installing storm windows or covering windows with plastic.
* Winterize your house, barn, shed or any other structure that may provide shelter for your family, neighbors, livestock or equipment. Clear rain…

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NEW lending guidelines being rolled out by Fannie Mae will make securing a mortgage a lot easier for some borrowers but harder for others.
The rules, effective on Dec. 13, will allow buyers to use gifts and grants from nonprofit groups for their minimum 5 percent down payment, which is the threshold set by Fannie Mae, the government-owned company that sets lending standards and buys mortgages from lenders. (Freddie Mac is considering similar new guidelines, said Brad German, a spokesman.)

Previously, borrowers had to contribute a minimum 5 percent down payment from their own funds, but additional down payment money could be from a gift (though never from a home seller). The exception was for borrowers who put 20 percent down: all that money could come as a…

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By KENNETH R. HARNEY - WASHINGTON POST WRITERS GROUP

WASHINGTON — Here’s a home­owner credit torture scenario that has a major real estate lobby on Capitol Hill demanding immediate reforms.

Say a homeowner has a solid payment record on just about all his accounts. The last time he checked, his credit scores were comfortably in the 750s.

Suddenly he receives a notice from the bank that because of “market conditions,” the equity line limit has been cut to $35,000 — slightly above the $30,000 balance outstanding — from $60,000. Then one of his credit-card issuers delivers more bad news: The $20,000 limit has been reduced to $10,000. The balance on the card is about $9,000.

The cuts could send the home­owner’s credit scores plunging into the upper 600s.…

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Four years into the housing crisis, myths about foreclosure still litter the minds of even the smartest of real estate consumers. When it comes to matters as high stakes as your home, confusion can cost you thousands - or even your home. Whether you’re a buyer looking at foreclosures, a homeowner struggling to keep your home or a seller concerned making sure your home can compete with the foreclosed homes on your block, these foreclosure myths are prime for the busting, with no further ado.

Myth #1: Foreclosure happens fast. With unemployment and underemployment still affecting nearly 1 in every 4 Americans, no one is immune from fears that a pink slip might quickly turn into a foreclosure notice. According to NeighborWorks America, nearly 60 percent of…

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Despite record-low interest rates, an increasing number of Americans can’t afford to buy a house.

The nation’s two largest mortgage lenders, Wells Fargo & Co. and Bank of America Corp., have raised the minimum required credit score on FHA-insured loans to 640 from 620.

Requiring a 640 credit score excludes about 15 percent of FHA borrowers, FHA commissioner David Stevens said.

Such a high limit will further delay a recovery in the real estate market, says Ron Phipps, president of the National Association of REALTORS®.

Source: Bloomberg, Jody Shenn and John Gittelsohn (11/17/2010)

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