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HUD Implements New Housing Fund, Makes $174 Million Available

HUD Implements New Housing Fund, Makes $174 Million Available

The U.S. Department of Housing and Urban Development (HUD) recently announced that nearly $174 million will soon be made available through first-ever allocations of the National Housing Trust Fund. HUD Secretary Julián Castro made announcement to a gathering of the National Low-Income Housing Coalition meeting in Washington.

The National Housing Trust Fund is a new affordable housing production program that will complement existing Federal, state and local efforts to increase and preserve the supply of decent, safe, and sanitary affordable housing for extremely low- and very low-income households, including families experiencing homelessness. The Fund is capitalized through contributions by government sponsored enterprises Fannie Mae and Freddie Mac. The Fund will be administered by HUD.

HUD expects to make individual allocations to States later this spring and anticipates these funds can be drawn upon as early as this summer.

“This is an exciting new tool to help states across the country to produce more critically needed affordable housing,” said Castro. “The National Housing Trust Fund will play an important role in creating new opportunities for those who are most in need to secure a safe, decent and affordable home they can call their own.”

Eight years after it was authorized by the Housing and Economic Recovery Act of 2008 (HERA), the Housing Trust Fund is only now being capitalized through contributions made by Fannie Mae and Freddie Mac. In December 2014, the Federal Housing Finance Agency (FHFA) directed these Government Sponsored Enterprises (GSEs) to begin setting aside and allocating funds to the Housing Trust. In January of 2015, HUD issued interim rules to guide states on how to implement their Housing Trust Funds.

For more information, visit www.hud.gov.  

For more real estate information, including a FREE Home Market Analysis and Market Area Statistics, please contact me at Kim@KimKroner.com or on my mobile phone at (703) 946-2526.

Reprinted with permission from RISMedia. ©2016. All rights reserved.

New Federal Measure Would Offer Tax Deductions to Millions of Homeowners

New Federal Measure Would Offer Tax Deductions to Millions of Homeowners

U.S. Representatives Anna G. Eshoo (D-CA) and Mike Thompson (D-CA) have introduced a measure that would allow homeowners in community associations who earn $115,000 or less in annual income to deduct up to $5,000 of their community association fees and assessments from their federal tax liability.

Expressing support for the bill, Community Associations Institute (CAI) says the legislation will benefit many of the more than 66 million Americans who live in homeowners associations, condominium communities, cooperatives and other planned communities.

The bill—Helping our Middle-Income Earners (HOME) Act—”recognizes that millions of middle class homeowners are struggling to keep up with rising household expenses like child care, college tuition, health care, mortgage and community assessments,” Eshoo says. “The Home Act can go a long way by providing relief from this tax burden on millions of middle class families.”

This bill recognizes the financial unfairness facing homeowners in community associations, as they pay their fair share of local property taxes along with their community assessments, and receive many municipal services from their community association, such as street and sidewalk cleaning, trash removal, snow removal and other services.

“CAI applauds Rep. Eshoo and Rep. Thompson for their efforts to make homeownership more affordable and for recognizing the inequity of double-taxation faced by homeowners in America’s community associations,” says CAI Chief Executive Officer Thomas M. Skiba, CAE.

“We look forward to working with Eshoo and Thompson to ensure this legislation is a net gain for millions of Americans who live in community associations,” Skiba adds.

While there hasn’t been a Senate companion bill introduced, CAI expects members of the House of Representatives in states with a large number of community associations—such as Florida, California, Texas, Illinois, North Carolina, New York and Massachusetts—to support the legislation and continue a dialogue that leads to inclusion of the tax deduction in comprehensive tax reform legislation.

For more information, visit www.caionline.org.

This post was originally published on RISMedia’s blog, Housecall. Check the blog daily for top real estate tips and trends.

For more real estate information, including a FREE Home Market Analysis and Market Area Statistics, please contact me at Kim@KimKroner.com or on my mobile phone at (703) 946-2526.

Reprinted with permission from RISMedia. ©2016. All rights reserved.

Just Listed : For Sale, To be built home, 6416 COLUMBIA PIKE, ANNANDALE, VA 22003 MLS# FX9603035

Just Listed : 6416 COLUMBIA PIKE, ANNANDALE, VA 22003 MLS# FX9603035

Beautiful, Cleared. Minutes from DC, Pentagon, Reagan Natl airport. Lot has driveway already – Permits & Site plan is approved. Builder to build 3-level home with 2600 sqft. on first two levels, 2-car garage and basement. Email agent for plat, floor plan.

Immaculate 3 Level Townhome For Sale in south Riding

Immaculate 3 Level Townhome For Sale in south Riding

Townhouse, Colonial – CHANTILLY, VA

OPEN HOUSE INFORMATION:   Date:  20-Mar-2016  Start/Ends: 01:00 PM - 03:00 PM Type:   Public  Access Type: Agent Access Info:   Remarks:   beautiful townhome features 3 bedrooms 2.5 baths on 3 finished levels. The living level with 9foot ceilings opens to the inviting great room, adjacent formal dining room and well-appointed kitchen with sunny breakfast area. Upstairs, dramatic vaulted Directions:  TAKE 50 WEST. LEFT ON LOUDOUN CTY PKWY. RIGHT ON CENTER. RIGHT ON CROSSFIELD. LEFT ON SYKES

OPEN HOUSE INFORMATION:   Date:  20-Mar-2016  Start/Ends: 01:00 PM - 03:00 PM Type:   Public  Access Type: Agent Access Info:   Remarks:   beautiful townhome features 3 bedrooms 2.5 baths on 3 finished levels. The living level with 9foot ceilings opens to the inviting great room, adjacent formal dining room and well-appointed kitchen with sunny breakfast area. Upstairs, dramatic vaulted Directions:  TAKE 50 WEST. LEFT ON LOUDOUN CTY PKWY. RIGHT ON CENTER. RIGHT ON CROSSFIELD. LEFT ON SYKES                                     OPEN HOUSE INFORMATION:   Date:  20-Mar-2016  Start/Ends: 01:00 PM - 03:00 PM Type:   Public  Access Type: Agent Access Info:   Remarks:   beautiful townhome features 3 bedrooms 2.5 baths on 3 finished levels. The living level with 9foot ceilings opens to the inviting great room, adjacent formal dining room and well-appointed kitchen with sunny breakfast area. Upstairs, dramatic vaulted Directions:  TAKE 50 WEST. LEFT ON LOUDOUN CTY PKWY. RIGHT ON CENTER. RIGHT ON CROSSFIELD. LEFT ON SYKES                                     OPEN HOUSE INFORMATION:   Date:  20-Mar-2016  Start/Ends: 01:00 PM - 03:00 PM Type:   Public  Access Type: Agent Access Info:   Remarks:   beautiful townhome features 3 bedrooms 2.5 baths on 3 finished levels. The living level with 9foot ceilings opens to the inviting great room, adjacent formal dining room and well-appointed kitchen with sunny breakfast area. Upstairs, dramatic vaulted Directions:  TAKE 50 WEST. LEFT ON LOUDOUN CTY PKWY. RIGHT ON CENTER. RIGHT ON CROSSFIELD. LEFT ON SYKES , South Riding, Amberlea, Townhouse for sale in South Riding, Toll Brothers, Chantilly This beautiful townhome features 3 bedrooms 2.5 baths on 3 finished levels. The living level with 9foot ceilings opens to the inviting great room, adjacent formal dining room and well-appointed kitchen with sunny breakfast area. Upstairs, dramatic vaulted ceilings enhance the master suite and 2additional bedrooms. Hardwood floors on all 3levels, Granite Counter tops & Stainless Steel Appliances

View FULL DETAILS and additional PHOTOS here:

See Property Details
Search the MLS like a Realtor and never miss the newest listings or the latest price changes. Search using criteria used by Realtors and brokers with multiple photos, satellite images, FULL MLS Descriptions and more. Easier than the MLS. Search Chantilly and the surrounding areas.

Kim Kroner,
Associate Broker
Long & Foster Real Estate, 42833 Sykes Terrace, Chantilly, VA 20152, 703-946-2526
Licensed In: VA

Equal Housing Opportunity


5 Tips for Tackling a Home Improvement List

5 Tips for Tackling a Home Improvement List

(Family Features) From aesthetic upgrades to practical necessities, there is no shortage of projects for homeowners to tackle. To take the stress out of home improvement, blogger and author Justina Blakeney and YP.com serve up the following tips:

  • Prioritize projects by needs, not wants. Blakeney advises making sure important projects (functioning air conditioning, for example) are set before tackling less crucial ones, like popcorn ceilings. Be realistic with your goals and always factor in 20 percent more money and time than you think the project will take.
  • Some projects are simple enough to DIY, but other projects may be better handled by experts. Honestly assess your own level of expertise, permit requirements and local regulations, your budget, your timeline and ultimate goals before deciding whether to DIY or hire an expert. Whether you need a personal organizer or a painter, a foundation specialist or a handyman, ask friends for referrals and then head online to dig a little deeper before getting a project bid.
  • Create a collection of professionals you will be working with and all the stores you will source materials from. You’ll have all of the info in one place for follow-ups, and it’s easy to share the info with friends once they start asking for recommendations. Also get a clear breakdown of all elements involved in each project, how much each step will cost and deadlines for each step along the way. A clear plan of action will help keep the budget and timeline in check. 
  • One of the best ways to save time and money is to find things second-hand. Thrift shops, salvage shops and flea markets are great places to find furniture, appliances and hardware on the cheap. Or, repurpose items you already own by moving them to a different room or by painting them different colors. Explore all of your options and resources before going out and spending that hard-earned cash. 
  • It’s okay to start small. Swap out the old hardware on your kitchen cabinets or fix the broken brick on your patio. Just start somewhere and build your way up to the larger stuff. If you’re feeling overwhelmed, try setting and accomplishing one small home improvement goal every week. 

Source: YP.com
This post was originally published on RISMedia’s blog, Housecall. Check the blog daily for top real estate tips and trends.

For more real estate information, including a FREE Home Market Analysis and Market Area Statistics, please contact me at Kim@KimKroner.com or on my mobile phone at (703) 946-2526.

Reprinted with permission from RISMedia. ©2016. All rights reserved.

Total U.S. Housing Starts Projected to Hit 1.23 Million in 2016

Total U.S. Housing Starts Projected to Hit 1.23 Million in 2016

The fourth quarter update indicates U.S. housing starts are expected to advance gradually to hit 1.23 million this year, with 819,000 of those being single family homes as defined by the Commerce Department, according to the Metrostudy release of the fourth quarter 2015 Home Building Outlook detailing housing construction trends nationwide.

Multi-family housing starts are expected to increase to 418,000 as the rental market continues to exhibit strength. Metrostudy’s proprietary survey database, which consists of data from over 100 CBSAs and consists of hand-counted lots and newly occupied homes, indicates move-ins were 7.5 percent higher in the fourth quarter of 2015 than a year earlier, while new housing starts rose 12 percent.

Nationwide new home sales as defined by the Commerce Department are expected to increase 18 percent to 590,000 this year, up from the preliminary 501,000 reported in 2015. New home sales saw a sharper peak-to-trough decline than overall housing starts, and from trough to 2014 did not increased as much, resulting in a statistical catch-up.

The best overall new home markets are Denver, San Francisco, Sarasota/Bradenton in Florida, and Charleston, S.C., in terms of health and local new home sales forecast. The Sunbelt dominates in terms of sales volume, with the largest new home markets expected to be Dallas, Houston, Phoenix, and Atlanta.

“The U.S. housing market continues to gradually expand,” says Brad Hunter, Chief Economist of Metrostudy. “We expect steady growth for the next several years, with slower price gains in the new home sector.” Mark Boud of Real Estate Economics, a subsidiary of Metrostudy, also observes, “Some in our industry have voiced concerns about economic problems in China impacting the housing market, or high new home prices restricting demand. We recognize those factors may have some impact, but it will be not be significant enough to prevent our forecasted expansion in construction.”

For more information, visit www.Metrostudy.com

The Top 6 Landscape Design Trends for 2016

The Top 6 Landscape Design Trends for 2016

Lux lighting and edible arrangements are on the rise this year, according to the National Association of Landscape Professionals’ list of the top landscape design trends for 2016, a gathering of data based on current consumer demands and lifestyle trends, as well as broader horticultural, architectural and design factors.

“The latest trends reflect the desire to bring the indoors out — to create comfortable landscapes that are both functional and beautiful,” says Missy Henriksen, vice president of public affairs, NALP. “At the same time, we’re seeing a shift toward sustainable landscapes that reflect a renewed sense of mindfulness for the Earth and its ecosystems.”

Specifically, NALP anticipates increased consumer interest in and adoption of the following six trends:

  • Fully customized outdoor living spaces. As more and more homeowners entertain outdoors and make the most of time spent outside, landscapes have become extensions of interior spaces, complete with furniture and appliances. Beyond basic decks and patios, more landscapes this year will be transformed into full-service kitchens with brick ovens and grills, comfortable living and dining rooms featuring fireplaces and firepits, and romantic canopy bedrooms. Themed spaces, such as yoga gardens or bocce fields, further personalize outdoor retreats to fit homeowners’ interests. 
  • Lighted and high-tech landscapes. A natural extension of the outdoor living trend is equipping these landscapes with creative and functional lighting and technological enhancements. Dramatic and boldly colored lights, twinkling accent lighting in walkways, backyard Wi-Fi and TV installations are just some of the ways gardens are getting tech-savvy in 2016.
  • Eco-friendly and native gardens. “Naturescaping” — selecting and growing native plants to attract birds, insects and wildlife — is one method landscapers will continue to employ in 2016 to appeal to an increased interest in developing environmentally conscious landscapes. Busy homeowners seek simply beautiful landscapes that are easy to maintain, and naturescaping encourages the use of low-maintenance perennial native plants and innately manages water runoff. The installation of solar-powered lighting or energy-efficient LED lights is another way landscapes will go green this year.
  • Edible landscapes. The demand for low-maintenance options has made container gardens, which often do not require extensive care, grow in popularity. When combined with a preference for the natural and organic, a new trend emerges: edible landscapes. Fresh herbs, fruits and vegetables add texture and color variety to landscapes, while providing a fresh supply of delicious ingredients. Not limited to individual home gardens, edible landscapes will be planned and planted by landscape developers in neighborhoods and community residences in 2016.
  • Freshwater features. The techniques used to manage storm water will not be hidden in 2016. Rain barrels, rain gardens and stone retaining walls add stunning dimension to lush landscapes, while serving an important purpose of collecting, cleaning or stopping water. In fact, water and other non-plant features, including sculptures or pottery, are becoming focal points in landscapes.
  • Soothing hues. For the first time, Pantone, the authority on color and provider of color systems and technology for color communication, has announced the blending of two colors — Rose Quartz and Serenity — as its Pantone Color of the Year for 2016. Expect these soft, nature-inspired pink and blue hues to bloom in gardens this year as heritage rose bushes, Catherine Woodbury daylilies, Angelique tulips, blue lace delphinium, French hydrangea and others.

For more information, visit LoveYourLandscape.com.

For more real estate information, including a FREE Home Market Analysis and Market Area Statistics, please contact me at Kim@KimKroner.com or on my mobile phone at (703) 946-2526.

Reprinted with permission from RISMedia. ©2016. All rights reserved.
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