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Preparing your home for winter

by The Jana Caudill Team

 

 As the leaves begin to change from green to an array of beautiful fall colors here in Northwest Indiana, it is time to think about what you can do to prepare your home for winter. Below is a list of Fall to Winter preparations.

 

Why are you renting?

by The Jana Caudill Team

There are many young people in Northwest Indiana considering whether to renew a lease on their apartment or sign a contract to purchase their first home.

Housing Cost & Net Worth

Whether you rent or buy, you have a monthly housing cost. As a buyer, you are paying YOUR mortgage.

Every mortgage payment is a form of what Harvard University’s Joint Center for Housing Studies calls “forced savings.”

    “Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

The principal portion of your mortgage payment helps build your net worth through building the equity you have in your home.
As a renter, you are paying YOUR LANDLORD’S mortgage.

Below is an example of the home equity that would be accrued over the course of the next four years if you were to buy a home by the end of this year; based on the results of the Home Price Expectation Survey.

Over 23% Thinking of Selling. Why the Hesitation?

by The Jana Caudill Team

Last month, the National Association of Realtors (NAR) reported that housing inventory was down 4.7% from the same time last year and that the month’s inventory of homes for sale stood at 4.8 - far below the six months necessary for a normal housing market. Why is there such a shortage of inventory?

A recently released Homeowner Sentiment Survey found that homeowners may not be fully aware of the opportunities that exist in the current real estate market. The survey, conducted by Edelman Berland for HSF Affiliates, also reports that many homeowners would be placing their home up for sale if they were better informed about today’s market.

Why the hesitation?

The survey shows that 55% of the 23% contemplating selling “would be more likely to put their homes on the market if given more information about the process”. What information do they need?

Here are a few of the challenges that potential sellers perceive to exist according to the survey along with what is actually happening in today’s market:
1. More than half (53%) don’t realize that “the number of homes for sale on the market is lower, giving buyers fewer choices”. As a matter of fact, only 6% of potential sellers believe that listing inventory has recently decreased.

In reality, as we mentioned before, inventory is down from last year.
2. 80% think credit scores make it difficult to get a loan.

In reality, though other studies have shown that many Americans believe that you need a credit score of at least 780 to get a loan when the actual median scores on closed loans are demonstratively lower than that.
3. 76% believe stricter lending requirements make it more difficult to get a mortgage.

In reality, the Mortgage Credit Availability Index shows lending standards have been consistently easing over the last year.
4. 68% think that current homeowners are trapped into their mortgages and are unable to sell their current homes.

In reality, a recent Fannie Mae study revealed that 32% of Americans are dramatically underestimating the current equity in their homes. Many more can afford to make the move they desire.

How can you tell if the time is right to sell?

By talking to a qualified real estate agent. The Jana Caudill Team can help you take an informed look at the NWI real estate market, your home value vs equity, and your current finiancial position to give you what you need to make the best decision for you and your family.

Two Graphs That Scream You Should List Your House Today!

by The Jana Caudill Team

The spring and summer months have always been known as a very popular time for homebuyers to start the search for their dream home. This year is no different!
We all learned in school that when selling anything, you will get the most money if the demand for that item is high and the inventory of that item is low. It is the well-known Theory of Supply & Demand.
If you are thinking of selling your home, here are two graphs that strongly suggest that the time is now. Here is why…
DEMAND
According to research at the National Association of Realtors (NAR), buyer activity this year has far outpaced the same months in 2014. Purchasers who are ready, willing and able to buy are in the market at great numbers.

The spring and summer months have always been known as a very popular time for homebuyers to start the search for their dream home. This year is no different!
We all learned in school that when selling anything, you will get the most money if the demand for that item is high and the inventory of that item is low. It is the well-known Theory of Supply & Demand.
If you are thinking of selling your home, here are two graphs that strongly suggest that the time is now. Here is why…

DEMAND

 
According to research at the National Association of Realtors (NAR), buyer activity this year has far outpaced the same months in 2014. Purchasers who are ready, willing and able to buy are in the market at great numbers.

According to NAR, “Foot Traffic has a strong correlation with future contracts and home sales, so it can be viewed as a peek ahead at sales trends two to three months into the future.”

SUPPLY

The most recent Existing Home Sales Report from NAR revealed that the current supply of housing inventory is at a 5.1 month supply, which remains below the 6-months necessary for a normal market.

Buyer demand is far outpacing the supply of homes available for sale.

Bottom Line

Listing your house for sale when demand is high and supply is low will guarantee the offers made will truly reflect the true value of your property.

 

Welcome to Lowell, Indiana!

by The Jana Caudill Team

Originally isolated at the center of miles and miles of farmland, Lowell began to prosper like many Midwest towns, when the railroad came through.  The Louisville, New Albany, and Chicago Railroad connected the small farming community with the rest of the country in 1880 sparking industries like the sawmill and brick making, utilizing the natural resources of water power and the clay rich soil of the region, respectively.  Although Lowell now has its share of McDonalds and Walgreens stores, it still holds history and tradition dear to its heart, as evidenced by its vital and healthy downtown district.

Click on our links to learn more about residential Real Estate available in Lowell today!

Welcome to Hobart, Indiana!

by The Jana Caudill Team

Once the home of the Pottawatomie Indians, Hobart has become a hub for business, family, and recreation with more than a little something for everyone, all within 38 miles of Chicago.  The historic downtown is a quaint, quiet community with small restaurants and specialty stores.  At the lakefront you’ll find summertime concerts, duck races, and endless additional activities.  In Hobart you will discover great retail shopping, numerous community parks for enjoying nature and the outdoors, and fabulous schools and community services thought to be among the best in Northwest Indiana.

Click on our links to learn more about residential Real Estate available in Hobart today!

Welcome to Highland, Indiana!

by The Jana Caudill Team

The Highlands, from which the town name originates, was originally a sand ridge standing out above the rest of the region’s marshy and mostly submerged landscape back in 1848.  At that time settlers from Ohio began developing the area, turning it into a farming community, and eventually the Chicago and Atlantic railroad came through town bringing with it more agriculture and manufacturing opportunities.  Highland’s focus today remains providing economic opportunity to its citizens, educational opportunity for its children, and recreational opportunity through its extensive town parks and facilities.

Click on our links to learn more about residential Real Estate available in Highland today!

Interesting Real Estate Related Articles 2

by The Jana Caudill Team

As we said last time, we believe the best way to come to an informed opinion on any topic is to rely on multiple, reputable resources for the information upon which you ultimately base your views.  Here are three more timely articles for our friends and neighbors in Crown Point, Hobart, and Cedar Lake from the end of last year to help shed a little light on the Real Estate landscape for 2014:

REPORT: BIG SHIFT IN US HOUSING MARKET IN 2014

Next year will mark the end of the refinance boom and the start of a market dominated by purchase money lending, the first purchase-dominated market in 14 years, according to Freddie Mac.

By: World Property Channel Staff, November 20, 2013 | To read the article in full, please visit: big shift article

GSES UPDATE SHORT SALE POLICIES

Fannie Mae and Freddie Mac announced changes to their Servicing Guides Monday aimed at helping more borrowers avoid foreclosure through short sales and deeds-in-lieu of foreclosure (DILs).

By: Carrie Bay, DSNews, November 25, 2013 | To read the article in full, please visit: gses update article

FORECLOSED SALES AT U.S. AUCTIONS DOUBLE AS PRICES GAIN

Purchases of foreclosed homes at auctions jumped last month as banks benefited from surging prices and shunned approvals of sales by homeowners dumping their dwellings at a loss.

By Kathleen M. Howley, Bloomberg, November 26, 2013 | To read the article in full, please visit: foreclosed sales article

Interesting Real Estate Related Articles 1

by The Jana Caudill Team

We believe the best way to come to an informed opinion on any topic is to rely on multiple, reputable resources for the information upon which you ultimately will base your views.  Below we’ve listed four interesting articles from the end of 2013, all from reputable resources, to help shed a little light on the Real Estate landscape of 2014.  Whether you’ll be buying or selling a home in Crown Point, Hobart, or Cedar Creek, or not, we invite you to check out the links for the full articles.

INSIGHT: A NEW WAVE OF U.S. MORTGAGE TROUBLE THREATENS

U.S. borrowers are increasingly missing payments on home equity lines of credit they took out during the housing bubble, a trend that could deal another blow to the country's biggest banks.

By: Peter Rudegeair, Reuters, November 26, 2013 | To read the article in full, please visit: insight article

REAL ESTATE CROWDFUNDING: WHY IT’S A BIG DEAL

Sometimes, when you cover your ears to escape all the chatter about real estate crowdfunding, you may ask yourself, “What is the big deal?”

By: Teke Wiggin, Inman News, November 25, 2013 | To read the article in full, please visit: crowdfunding article

BUILDING PERMITS IN U.S. JUMP TO FIVE-YEAR HIGH

More applications for home construction were issued in October than at any time in the past five years, a sign the U.S. residential real-estate market is gaining momentum heading into 2014.

By Victoria Stilwell, Bloomberg, November, 26, 2013 | To read the article in full, please visit: building permits article

RESIDENTIAL HOME SALES CONTINUE TO CLIMB: REALTYTRAC

Residential property sales, including single-family homes, condominiums and townhomes, continue to rise, increasing to an estimated annualized pace of 5.649 million in October, a 2% hike from a month ago and an increase of 13% from October 2012, the latest RealtyTrac Residential and Foreclosure Sales Report revealed.

By: Brena Swanson, HousingWire, November 26, 2013 | To read the article in full, please visit: residential home sales article

Welcome to Griffith, Indiana!

by The Jana Caudill Team

“The town that came to the tracks,” known today as Griffith, once boasted in the Guinness Book of World Records as being the town having the most baseball diamonds and for having the location where the most railroad tracks met at one point.  It had been the railroads passing through town, heading to and from Chicago that kept the town alive for many years, lending stability to Griffith through the panic of 1893, and the Great Depression.  Though there is only one remaining railroad travelling through town today, Griffith remains a vibrant community dedicated to the ideals of hard work and community learned from the past.

Click on our links to learn more about residential Real Estate available in Griffith today!

Displaying blog entries 1-10 of 181