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Displaying blog entries 1-10 of 18

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.

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!

Welcome to Crown Point, Indiana!

by The Jana Caudill Team

 

Considered to be the “hub of Lake County,”Crown Point Indiana is located just 40 miles southeast of Chicago’s Loop making up just one of the Loop’s 77 official community areas. Crown Point and Crown Point real estate offer new homes, single-family family homes and even luxury homes. Condos for empty nesters are ample along with apartment rentals. This historic town of 27,000 residents is famous for housing the courthouse from which bank robber John Dillinger escaped. It has a vibrant downtown scene coupled with the feel of suburban living and close proximity to one of America’s largest urban areas.

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

Welcome to Chesterton, Indiana!

by The Jana Caudill Team

Today's post is the next in our series of "Welcome To..." blogs highlighting Northwestern Indiana communities, and today we'd like to welcome you to CHESTERTON, INDIANA!

 

In 1834 the town of Coffee Creek took its name from a local creek running through what was at the time downtown.  Although Chesterton finally adopted its current name in 1870, the region and the Indiana Dunes have always been synonymous.  Today there’s more to Chesterton than just its 15 miles of breathtaking, sandy, Lake Michigan beaches.  Locals enjoy great restaurants, golf, wonderful city and state parks, and as always, take great pride in their town’s role as the gateway to the great Indiana Dunes.

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

Welcome to Cedar Lake, Indiana!

by The Jana Caudill Team

Today's post is the first in a series of "Welcome To..." blogs highlighting Northwestern Indiana communities, and today we'd like to welcome you to CEDAR LAKE!

The 794 acre lake at the center of the community from which the town of Cedar Lake hails its name is an outdoor recreation destination for residents and visitors alike.  Over a century ago the Monon Railroad reached the western shore of the lake making the young town a tourist hot spot for Chicagoans escaping the hustle and bustle of city life.  That was in 1882.  Today, with over 6000 feet of accessible shoreline, picnic tables, gazebos, and 18 acres of open space Cedar Lake is a wonderful place to raise a family, rest and recharge, and enjoy the great Indiana outdoors.  The lake has two public marinas with access for boating, jet skiing, and fishing, and don't forget ice fishing in the winter and snowmobile races across the lake.  Upscale condos and houses are newer to the area.  In Cedar Lake it's resort living with close proximity to Chicago and Lake Michigan.

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

What is a Buyer's Agent

by The Jana Caudill Team

This blog piggy-backs on the previous article, “Buyer Self-Representation.”  The answer to the question Can I represent myself? is Yes, but why would you?

That article naturally leads to the question of agency, and specifically for this article, buyer agency.  A buyer’s agent represents and has a fiduciary duty to the Crown Point, Hobart, and Dyer buyer in a Real Estate transaction.  That’s the simple answer.  The listing agent represents and has a fiduciary duty to the seller in a Real Estate transaction.  This way each side has their own representation.

Here’s where it gets a little sticky.  As the buyer, and to establish the agency relationship with a buyer agent you must have a contract with that agent stating explicitly that you and the agent have an agency agreement (Buyer Agency Agreement.)  Without this formal, signed agreement all Realtors default position in the transaction are to represent the best interests, and hold a fiduciary duty to the seller.

That’s right.  The default status of any and all agents participating in a Real Estate transaction is to have an agency relationship to the seller unless stated otherwise in writing.  It doesn’t matter that the agent took you through twenty homes last Sunday, or gave coloring books to your kids to keep them busy while you toured all those homes.  It doesn’t matter if they are your neighbor, your cousin, or belong to the same PTA board.  If you do not have an agency agreement, in writing, stating that the Realtor is working on your behalf and as your agent THEY ARE NOT YOUR AGENT.  They are just the Realtor who drove you to all those home showings.

Good Realtors want that agency agreement too.  Transactions close more smoothly when each side has someone watching out for their best interests.  Be sure to request a buyer agency agreement from your Realtor.

Displaying blog entries 1-10 of 18

Contact Information

Photo of The Jana Caudill Team Real Estate
The Jana Caudill Team
Redkey Realty Leaders
503 East Summit St., Suite 2
Crown Point IN 46307
219-661-1256
Fax: 219-663-5949