The Sully Group

December

new maximum loan limits for 2017
The Federal Housing Finance Agency (FHFA) just announced that the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2017 will increase. In most of the country, the 2017 maximum loan limit for one-unit properties will be $424,100, an increase from $417,000. This will be the first increase in the baseline loan limit since 2006. In higher-cost areas, higher loan limits will be in effect.

The Housing and Economic Recovery Act of 2008 (HERA) established the baseline loan limit of $417,000 and requires this limit to be adjusted each year to reflect the changes in the national average home price. However, after a period of declining home prices, HERA also made clear that the baseline loan limit could not rise again until the average U.S. home price returned to its pre-decline level. Until this year, the average U.S. home price remained below the level achieved in the third quarter of 2007 and thus the baseline loan limit had not been increased.

In areas where 115 percent of the local median home value exceeds the baseline loan limit, the maximum area loan limit will be higher. HERA sets the maximum loan limit as a function of the area median home value, while setting a bceilingb on that limit of 150 percent of the baseline loan limit.

This year, median home values generally rose in high-cost areas. Because the baseline loan limit will be higher in 2017, the new ceiling limit will also be higher. The new ceiling loan limit, which applies in areas with the most expensive homes, will be $636,150 (150 percent of $424,100) for one-unit properties in the contiguous U.S.


6 Ways to Keep Your Place
SAFE WHILE YOUbRE AWAY!

1. Check the Locks

2. Stop Your Mail

3. Donbt Stand Out

4. Make It Look Like Youbre Home

5. Keep Your Friend in the Loop

6. Beef Up Security
a gift that keeps giving all year
Even in these days of economic uncertainty, webd all like some luxuries in our lives. Sure, a home addition or kitchen renovation would be nice, but there are plenty of low-cost changes you can make to upgrade your home without spending a small fortune. Adding in little touches here and there can make a regular room stand out and are an easy way to provide a bit of extravagance.

Here are five types of home luxuries you can acquire that wonbt break the bank.

a gift that keeps giving all yearWine Coolers

Some have dual-zones for white or red, and are small, inexpensive home upgrades.

Spa Shower

The bathroom is the place where we like to pamper ourselves. Switch out the regular shower head for a brainb shower head. Typically installed from the ceiling, but you can also install a rain shower head that attaches to the wall via an extension arm.

Indoor Fireplace

Want a fireplace for your home but donbt have a chimney? Electric fireplaces allow you to add one that gives off heat and flickering without the need for a flue.

Sound System

One simple solution is a home theater in a box. The system provides five speakers, an amplifier and subwoofer for one room.

Indoor bar

Having a small entertaining area, you donbt have to build an extra room onto your house to create one. Instead, carve out a space where bar furniture can be a novel conversation piece. Keep it simple.


thank you for your business


2017 home feature prefernces
Central air conditioning was the most important feature to most homebuyers (65%), which was followed by a walk-in closet in the master bedroom (39%). Single women placed a high importance on single-level homes. Single men and married couples placed a higher preference on new appliances. Rooms that buyers were willing to pay the most for were inlaw suites. 97% of buyers said they were satisfied with their purchase. There were 2 things buyers consistently said they would like to have more of…storage space and closets.

Give yourself a present and consider a refinance
for a term shorter than 30 years.

YOU WILL LOVE IT!

8 tips for a healthier less stressful holiday8 Tips for a Healthier,
Less Stressful Holiday

Donbt Overdo It

Overspending. Obsessing about decorations. Baking 20 different kinds of cookies. There are lots of ways to overdo it this time of year.

The Tipping Point

The holidays are all about gift giving and many donbt think about your newspaper deliverer, garbage collector or gardener.

Get Happy

Keeping a bgratitude journalb also has been shown to help people feel more satisfied with their lives and report fewer health problems.

Travel Well

Nothing ruins the holidays like getting sick. If your holiday involves spending time in a crowded space like an airport, stay healthy by being careful.

Volunteer Your Time

The holidays keep you running for a month straight. To make sure you take a break, sign up to volunteer at a community event now.

Keep Your Food Safe

Itbs been a big year for food borne illnesses. To keep your dinner guests healthy, thaw the turkey in the refrigerator, not on the kitchen counter.

Focus on Maintenance

It isnbt going to be easy losing weight during the temptation-filled holidays. Why not shoot for weight maintenance, instead?

Take a Personal Holiday

You spend every Thanksgiving, or holiday with family. Try taking a personal holiday somewhere.