For the first time in more than four years, the median price of homes sold in Western Washington turned upward in April, a new report reveals.

The report from the Northwest Multiple Listing Service released Thursday shows a modest 1.27 percent uptick in median home selling prices overall for the 21 mostly Western Washington counties the real estate listing service covers. Median prices for homes sold in April this year were $240,000 compared with $237,000 in April of 2011.

Home sales prices in Pierce and King counties, however, still continued trending downward, but Thurston County sales prices were up, the listing service report said.

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Built-in furniture and cabinets have cycled in and out of favor for centuries. Now they’re making a comeback, inspired by the better-not-bigger trend in residential design.

“Built-in storage seems to be more on people’s radar,”said Jean Rehkamp Larson of Rehkamp Larson Architects. “There’s also a thoughtfulness about making them part of a home’s architecture.”

Today’s built-ins house everything from flat-screen TVs to kids’ sports equipment, but their smart, space-saving utility is timeless — and adds to a home’s appeal.

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A newly streamlined government plan to reward homeowners who diligently pay their underwater mortgages is proving a bonanza for banks, which by one estimate may pocket $12 billion in extra revenue by refinancing loans.

The revisions to the Obama administration’s 3-year-old Home Affordable Refinance Program have yielded mixed results for homeowners, analysts and mortgage professionals say.

Some responsible homeowners are indeed getting lower-interest loans despite owing far more than their homes are worth. But others have loans that don’t qualify, or must jump through hoops the plan was supposed to eliminate, such as on-site appraisals and extensive paperwork.

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In today’s real-time real-estate market, it makes sense for buyers to carefully weigh contract options and develop contingency plans with their real-estate agents long before it’s time to go to settlement.

In addition, sellers have to keep a keen eye on the process as this is clearly not a version of the “don’t ask, don’t tell” laissez-faire approach of the past.

Here are some top contract trends and contingency plans for keeping your home sale on track…

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The government’s consumer-finance watchdog is weighing an overhaul of the fees consumers pay to obtain mortgages.

Regulators might ban origination fees that vary with the size of the loan, known as “origination points.” They also might limit the use of “discount points” that are supposed to result in lower interest rates, the Consumer Financial Protection Bureau said late Wednesday.

The changes would help consumers understand the fees they are paying and guarantee that the fees provide any promised discounts, the agency said.

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We all know the social benefits of owning a home. Homeownership gives family stability, creates lower high school dropout rates, and of course gives the opportunity to create meaningful and lasting relationships.

In addition to these great pluses, owning a home can be your largest financial asset.

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Are you dreaming of buying a home? 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!

Homeowners with a Bank of America mortgage have good reason to check their mailbox.

The lender said Tuesday it has begun mailing out letters to customers who may qualify to have their home loans reduced as part of a multistate settlement over alleged foreclosure abuses…

Some customers could receive letters from the bank as early as this week that invite them to provide financial information as part of a review process for the program. The bank plans to have mailed out most of the letters by the end of the third quarter.

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You’ve finally decided that now is the time for you to jump into the housing market! Perhaps you’ve done the math and want to take advantage of historically low interest rates and high levels of affordability. Maybe you have a new family that is quickly outgrowing your little rental. No matter the reason, buying real estate is a big responsibility.

There are several rookie mistakes that many first-time home buyers can make. Keep reading for how to avoid them!

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Are you thinking of buying a home? Check out our Homeownership Simplified section a for information & tips on buying a house in Washington and our handy calculators to figure out potential mortgages, closing costs, and more!

It may be the best-kept secret in residential real estate: For a couple of hundred dollars, a potential buyer thinking about writing a contract on an existing house can ask for a formal energy audit along with the standard inspection clause.

That audit, in turn, can save the buyer thousands of dollars in future operating costs, and pinpoint the specific features of the house that need correction to improve efficiency.

Read Full Story on The Seattle Times…