Chitownproperty

A quick rundown of the best of this weekend’s real estate news sections:

• The Historic Chicago Bungalow Association has made $750,000 available for grant funding so that bungalow owners in need of assistance can make repairs. Bungalow owners making less than 80 percent of the area’s median income can apply for grants of $3000 to $5000 to make repairs on roofing, plumbing, electrical systems, and furnace and water heater upgrades.
• Home decorating trends in 2006 are leaning towards more personal touches, bringing out a home’s individuality with unique and repurposed items instead of expensive matched furniture sets.
• Learn how to remove ice from your walkways and patios without destroying the surface underneath.
• Make a New Year’s resolution to secure your home by fixing up your fireplace, checking smoke and carbon monoxide detectors, patching slippery surfaces, and installing good external lighting.
• Bathroom decor is becoming as lavish and as important to the home’s overall styling as the usual living spaces.
• The FHA has loosened home maintenance and repair standards for the homes being purchased by buyers using FHA-backed loans. Formerly, the FHA made it difficult for borrowers to purchase homes “as is,” or homes in need of significant repairs, even if they were only cosmetic. This shut out many buyers who could not afford homes in better condition. Analysts hope the new rules will spur market activity as more first time buyers can afford homes, and sellers can move on to successively higher-priced properties.