Foreclosure Freeze Crossing Country May Lift Sunken Housing Market

SEATTLE, Oct. 5 /PRNewswire/ -- While the foreclosure freeze by three of the nation's largest lenders is underway in 23 states, homeowners in unaffected states like Washington are still grappling with high rates of foreclosure. With the nation's 14th highest rate, according to RealtyTrac, foreclosure filings in Washington were up 154% in August from the same time last year.  

In this market, many homeowners are staying put and choosing remodeling as the clear alternative to purchasing a new home. It is also giving renewed energy to those championing the old adage, "Champagne taste on a beer budget."

And, it just may pay off in the long run for those homeowners looking for a return on their investment. Charles Nathan, owner of Nathan Construction, a Seattle-based residential construction company, has been seeing an increase in the number of kitchen and bathroom remodels over the last year. "The natural appreciation of the market over time will help pay for the improvements and perhaps eventually cover the full percentage of the cost, but that should be a secondary concern. Most homeowners are not sophisticated real estate investors and I urge them to invest in their home in order to enjoy the improvements."

Projects such as energy saving remodels, room additions, and exterior improvements are proving to show the highest return on investment for homeowners, all ranging between 80%-90%. But even with the increase in basic projects, other larger remodeling jobs have also been on the rise. From detached garages to his and her spaces, homeowners are still looking for a little luxury to reinvigorate their home, as well as reflect their personal lifestyle.

About Nathan Construction

Nathan Construction continues to build on its reputation on quality, integrity, and a true passion for design. Charles Nathan has lent his design background and artistic eye to projects for over 25 years, uniquely setting himself apart from other general contractors. From building custom single family homes to remodeling kitchens and baths, Nathan Construction has been responsible for some of the finest homes in the Seattle area. The company also has the distinction of being one of a handful of companies with the Green Advantage Environmental Certification. For more information, please go to www.nathanconstruction.net.

SOURCE Nathan Construction