Real Estate Recovery or Not

Real Estate forecast

Could Buyers Be Ready To Get Off the Sidelines?

rent rates

Falling home prices have sent many would-be buyers to the sidelines. In many cases, record low interest rates and rising rents may prompt some of them to take a second look at buying.

Much of the decision to buy a house still depends on your personal finances and preferences, your career or family life, or level of financial security. But if you’re comparing just the cost of owning and renting, buying a house may soon be the better choice.

Until recently, home ownership was no bargain compared to renting, according to his analysis.  A 33 percent drop fall in home prices, a plunge in mortgage rates and 15 percent rise in rents since the housing crash has evened the scales. Today, the median monthly mortgage payment of about $700 has fallen to about the level of a median monthly rent check. If mortgage rates keep falling and rents keep rising, the equation will tip even further toward owning.

But that analysis doesn’t include the total cost of owning versus renting. A full accounting includes closing costs, maintenance, insurance and property taxes, tax savings from mortgage deductions, gains or losses from home equity, among other factors. Renters have to think about broker fees and future rent hikes. Both have to make assumptions about future trends in housing prices and rents.

When you take those factors into account — someone who plans on staying put for seven years would come out ahead by about $9,000 if they bought a median-priced home rather than being a tenant in a median-priced rental, assuming that rents keep rising by about 3 percent a year and that house prices stay flat in 2012 and 2013 and begin rising in 2014 at about 3 percent a year.

If you would like to investigate this more, shoot me an email or call 206-713-3244

Ode to Steve Jobs

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Modern Vintage Interior Design

Modern vintage interior design created in black and white theme by Marilyn Monroe portraits on the walls, which remind 1950’s age, in combination of black and white interior designed by a Moscow based interior designers Geometrix, a perfect luxury lifestyle for vintage fans in modern style.

Interior Designers: Geometrix

Canada’s most beautiful national parks

Although America’s Yellowstone was the world’s first national park, Canada was the first country to create an agency specifically devoted to national park creation, management and preservation. Parks Canada celebrates its 100th birthday this year, and in a century of park stewardship it has safeguarded some of the world’s most famous landscapes and icons, including the Prince of Wales Hotel in Alberta’s Waterton Lakes National Park. Parks Canada’s scope includes 10 World Heritage Sites and four UNESCO Biosphere Reserves, ranging from remote marvels to easily accessible human playgrounds. Fourteen of my favourites (intentional Canadian spelling) follow.

While Pacific Rim National Park in British Columbia has impressive groves of old-growth Sitka spruce and surf-washed scenic headlands, it is also Western Canada’s surfing capital. Almost any day, the parking lot at the park’s famous 16-kilometre-long Long Beach is filled with surf wagons — including old-fashioned “woodies,” lovingly restored — and young wave zealots scanning the horizon for incoming swells. Nearby Tofino, on the west coast of Vancouver Island, is a delightfully laid-back former timber town with lodging and dining that ranges from ultra-deluxe to funky-chic.

One of Canada’s newest national preserves, Gulf Islands National Park in B.C., spreads across its namesake chain of marvelous islands in the Salish Sea northeast of Victoria. The park encompasses mountaintop vista points, remote islands reached only by boat, historic homesteads and peaceful meadows ringed by forest. One of the most popular parcels is Sidney Spit, a deliriously lovely stretch of white sand reached by water taxi from its namesake small town near Victoria International Airport.

Once upon a time, Jasper National Park’s Athabasca Glacier was one of North America’s roadside wonders: This arm of the vast Columbia Icefield stretched almost all the way down to Alberta’s Icefields Parkway, which carries tourists between Banff and Jasper. It is the most visited glacier in North America. But global warming has melted the glacier back 1.5 kilometres from the roadway, and visitors must now trek along a path whose interpretive signs mark the years of the glacier’s retreat. Set amid spectacular snow-clad peaks in the Canadian Rockies, this is one of the best places anywhere to witness anthropogenic climate change.

Alberta’s Banff National Park holds one of the world’s most familiar and most photographed mountain views, that of Lake Louise with snowy peaks behind. An equally impressive view is just up the road from Louise at Moraine Lake, which also offers breathtakingly gemlike turquoise water backed by snowy peaks — and far, far fewer visitors than at Lake Louise, whose shoreline promenade on a busy summer day draws thousands of bus-borne tourists.

A large escarpment rising above the Manitoba prairie holds Riding Mountain National Park, whose aspen parkland forest and clear freshwater lakes comprise a lovely landscape. Lakes entice swimmers, anglers and boaters; moose are a common sight; and the display of wildflowers in the woods and meadows in early summer is beautiful. Wolves, bears, bison and other wildlife are also common, and migratory waterfowl visit the park May through October on their journeys north and south. The park is a UNESCO Biosphere Reserve.

While the Bay of Fundy is famed for the world’s greatest tidal flux — 17 metres — it is also an exceptionally beautiful body of water on the Atlantic coast of New Brunswick and Nova Scotia. Fundy National Park embraces saltwater shoreline, rocky headlands, inland forest and waterfalls, and a tantalizing array of recreation amenities. There is a heated saltwater swimming pool, a golf course, several lakes, tennis courts, campgrounds and yurts for overnight visitors — even a lawn bowling venue.

Gwaii Haanas National Park, one of Canada’s great treasures, encompasses the lower portion of Haida Gwaii, the remote Pacific islands formerly known as the Queen Charlottes. Among the attractions in Gwaii Haanas is SGang G’waay (Anthony Island), a World Heritage-designated historic Haida village today guarded by Haida Watchmen who welcome visitors and explain their rich culture. At nearby Hot Springs Island, adventurers can relax in hot mineral water pooled just above the restless ocean — one of the few such sites on Earth. With no road access and no commercial services, Gwaii Haanas is best visited by using one of the wilderness tour operators licensed to travel in the park.

The more than 60 islands and islets in Georgian Bay Islands National Park occupy a corner of Lake Huron north of Toronto. Reached only by boat, with no commercial development, the islands comprise a paddling paradise for canoeists and kayakers. The exposed rocks and headlands typify the geologically famous Canadian Shield landscape; white pines provide green contrast to the glacier-smoothed rock. Wildlife is profuse, and paddlers can easily find peace and quiet during day trips or overnight journeys.

It takes two days of driving from Edmonton to reach Wood Buffalo National Park, which straddles Alberta and the Northwest Territories. This peaceful park’s aspen woodlands are home to one of the largest indigenous bison herds on Earth, a wood bison population that has lived and thrived here for thousands of years. That’s the reason this park is on UNESCO’s World Heritage list. Bigger than plains bison, wood bison are impressive animals best viewed at a safe distance. Lynx, bears and many migratory birds also are found in the park, which is rarely visited by anyone except nearby residents.

The mountains that comprise Newfoundland’s Gros Morne National Park represent the tectonic forces of continental drift, cut off from the mainland and eroded by time into a fantastic landscape that includes a plant-bare region known as the Tablelands. Freshwater fjords, sea stacks, sandy beaches and glacially carved valleys offer spectacular scenery; wilderness hiking and beachcombing afford peace and quiet. Gros Morne was declared a World Heritage Site in 1987 for both its scenic beauty and fascinating geology.

When Viking adventurers led by Leif Eriksson discovered eastern Canada about 1,000 years ago, they found the area so pleasant they named it Vinland, and conducted a thriving trade shipping timber and wild grapes back to Greenland. One of the Norse settlements, at what’s now L’anse aux Meadows National Historic Site in Newfoundland, was a few years later the first place in North America that iron was smelted. Visitors today can see reconstructions of Viking sod homes, and learn more about the excavations that finally settled the question of whether Scandinavian peoples had ever reached North America. They had indeed, and the historic significance of the place drew its World Heritage designation in 1978.

Once a commercial and military waterway that was key to the early industrial growth of eastern Canada, Rideau Canal National Historic Site has been transformed into a European-style cross-country water and recreation path. Its 202 kilometres are operated by Parks Canada for boaters, bicyclists and pedestrians who follow the route from Ottawa to Kingston, Ont. Built in 1832, it’s the only such historic canal in North America still in operation, and was granted World Heritage designation in 2007. Some of the canal’s 45 locks are still operated by hand.

Preserving a spectacular section of Baffin Island in Nunavut, Canada’s Inuit territory, Auyuittuq National Park is a remote, windswept, scenic and un-peopled preserve to which a visit is a lifetime adventure for most. Here are steep-walled fjords, forbidding mountain peaks — one was featured in “The Spy Who Loved Me,” — and hiking treks only for experienced wilderness travellers. The most popular of these is the 97-kilometre journey through Akshayuk Pass. Mount Thor, near the Akshayuk Valley, has a 1.25-kilometre cliff face, the longest such uninterrupted drop in the world.

One of the lesser-known parks in the Canadian Rockies, Kootenay National Park is the home of one of the most enticing visitor amenities in the region. Radium Hot Springs’ large pool allows hundreds of bathers to soak in soothing, warm, mineralized waters whose namesake trace ingredient, radon, is mildly radioactive — though safely so, less than an illuminated watch dial. Because the water is colorless and odorless here, bathers who dislike the sulphur smell at most hot springs embrace these relaxing waters.

How to Rebuild Your Credit After a Foreclosure or Short Sale

If you’re one of the millions of Americans who experienced either a foreclosure or short sales due the housing downturn, you might be left wondering where to go from here, when it comes to rebuilding your credit score.

Here is the information you must know about your credit, to best recover from a foreclosure or short sale.

Know How Things Ended

Though you may be relieved to have finally resolved your housing situation, don’t put it out of your mind just yet. Keith Gumbinger, mortgage expert forHSH.com says that knowing the final terms of the arrangement made with your lender plays a role in rebuilding credit. That’s because different defaulted home loan terms come with different ramifications to your credit score. Know whether you had a short sale (the lender allows you to sell the house for less than the balance on the mortgage, and may or may not require you to make up the deficiency), an involuntary foreclosure (you stopped making payments and the property, and potentially your assets, were seized), or you negotiated a deed-in-lieu of foreclosure (a voluntary process in which you “hand over” the deed to the lender, shortening the process and accompanying expenses), as well as the specific terms were agreed upon. When it comes to foreclosures and short sales, no two agreements are alike; the terms and conditions have different impacts on credit scores, how they are reported to the credit bureaus, and how long they take to “fall off.”

Confirm Where You Are Now

While short sales are often perceived as more “favorable” when it comes to defaulting on a home loan, FICO conducted a study simulating the aftermath of a foreclosure and a short sale, and revealed that in regards to credit score impact, there isn’t much difference between the two events. The real gauge, it seems, is in the starting credit score before the default took place.

FICO examined three hypothetical consumers with starting credit scores of 680 (customer A) 720 (customer B), and 780 (customer C). It found that despite whether the loan default was a short sale or foreclosure, customer C’s credit score was most impacted, indicating that the higher the credit score, the longer it takes to restore. Further, time is critical in rebuilding credit worthiness: a short sale with no deficiency balance will generally require at least three years before the credit score will increase. In the case of a foreclosure, the borrower must wait for at least seven years, and in some cases, up to ten, if a bankruptcy filing was involved.

Keep Credit Cards Under Control

After you have completed the foreclosure or short sale, request your credit report fromAnnualcreditreport.com, which allows you one free credit report each year. Confirm that the report does not contain any errors, or reflect old debts that were paid off, and report any disputes to Experian, TransUnion and Equifax immediately. Ornella Grosz, author of Moneylicious: A Financial Clue For Generation Y says that one way to add points to your credit score is by paying off or lowering your existing credit card balances, and that  “about 30 percent of your credit score is made up from keeping balances low. The lower your debt-to-income ratio, the better.” John Ulzheimer, Mint’s credit columnist, also addresses this the post What Kind of Debt Pay-Off Boosts Your Fico Score Most.

Set up automatic bill pay on all of your existing credit accounts to make certain that creditors are always paid on or before the due date (don’t play with grace periods when you’re trying to rebuild credit). Or use the “Bill Reminders” feature on your Mint.com account. If you have missed payments in the past, commit to starting good habits now. You can rebuild a score by paying every bill on time. On the contrary, skipped or late payments will reduce your credit score further.  Don’t attempt to raise your credit score by closing open credit lines, and know that removing the credit availability might actually hurt your score more after a short-sale or foreclosure, when access to new credit will be limited. (To potential lenders, closing the credit, even it you haven’t used it in years, makes it appear as though you are closer to being “maxed out” than you really are).

If you are left with no credit lines after the foreclosure or short sale and cannot find unsecured lines of credit, apply for a secured credit card, which are offered by many financial institutions and credit unions. Secured cards will require you to deposit funds with the creditor, in exchange for a credit card with a credit line of the same amount. (For example, if you put $500 down, that will be the amount of your secured credit line). If you use secured cards responsibly, they will help to slowly increase your credit score. Over time, the lender may raise your line of credit for “good behavior,” and eventually, you’ll be a candidate for unsecured credit again. However, Grosz cautions to read the fine print in the agreement for all secured cards, and confirm that you will not be charged additional fees for use.

Be Patient

Rebuilding credit after a short sale or foreclosure can be frustrating, but it is a process most impacted by being patient. Amber Stubbs, senior managing editor at Cardratings.com says “the more time passes, the less a black mark affects your credit, and you won’t be able to make a full recovery until the derogatory item is off your credit report. Most derogatory items, including foreclosures, fall off seven years after the last activity on the account. If you manage other accounts responsibly while you wait, you should be in good shape by the time the foreclosure disappears from your credit report.”

Stephanie Taylor Christensen is a former financial services marketer based in Columbus, OH. The founder of Wellness On Less, she also writes on small business, consumer interest, wellness, career and personal finance topics.

Top 10 Budget Kitchen and Bath Remodels

By: THE EDITORS OF THIS OLD HOUSE, This Old House online

after photo of the under a thousand dollar kitchen remodel

Photo:  Deborah Whitlaw Llewellyn

Paint Cabinets Instead of Replacing Them

With kitchens, simple does not necessarily equal streamlined. For these homeowners the kitchen that came with their Atlanta condo fell short on both frills and function. It was a sad space, that included builder-grade cabinets and white laminate counters. Opening the dishwasher blocked the oven door and vice versa.
They used a little DIY-know-how and removed, repainted, and reinstalled the cabinets. They also purchased a wet saw and cut the glass tiles for their backsplash themselves.
Take a look at The $967 Kitchen Remodel to pick up a few money-saving pointers and design ideas.

Read the rest here.

Would You Want to Live in This Loft?

This is оnе оf thе mоst amazing lofts I’vе еvеr seen. You can play basketball in thеrе аnd if yоu likе plants thеn yоu cаn even hаve a living trее in the flооr. I Want to Live in This Loft!

Located in thе trendy SoMA neighborhood оf San Francisco, this gorgeous loft hаs 30-foot ceilings with skylights, including а huge retractable cеntеr skylight, music control panels, 3-car garage, rooftop terrace with 4-person Jacuzzi аnd а regulation basketball hооp. With $3 million yоu cоuld оwn this architectural marvel thаt affords stunning city viеws аnd plenty оf rооm tо entertain.

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House built inside an old container

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Some old stuff, good inspiration and speediness creativity is all we needed to build our home.

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