Real Estate Information Archive


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Explanation of Using Tax Credit For a Down Payment

by The Jana Caudill Team

Top 400 Real Estate Professionals

by The Jana Caudill Team

We are pleased to announce The Jana Caudill Team has been named one of the Top 400 Real Estate Professionals by The Wall Street Journal and Lore Magazine!

Out of thousands of Realtors, we placed in the top 100 for Top Team Ranked by Sales Volume for 2008. This is not the first time we were chosen for this prestigious list. In 2007, The Jana Caudill Team placed 24th for Top Team Ranked by Closed Transactions.

We would like to thank all our clients and referring agents for their help in making this achievement possible. The Jana Caudill Team works hard every day to provide our clients with great customer service and expertise on the real estate market. Please give us a call for all your real estate needs.

We're Growing!

by The Jana Caudill Team

The Jana Caudill Team is pleased to welcome two new buyer specialists to our team and Keller Williams!

Cody Polovitch joins The Jana Caudill Team with over 6 years of experience in the real estate industry.  He works exclusively with buyers to help them find their perfect home.  Cody enjoys studying the financial market and uses these skills effectively.  By providing buyers with the utmost customer service and keen negotiating skills, Cody will make the home buying process a great experience for our buyers.

Adam Noel comes to The Jana Caudill Team with a strong customer service background from working in Chicago’s financial district for the past 8 years. Living in Northwest Indiana for 34 of the past 35 years, Adam has a vast knowledge of the history of the area.  Adam, father of four children, understands the importance of family and helping you with your real estate needs.  As a buyer specialist for The Jana Caudill Team, Adam will do his best to make the entire buying process as comfortable as possible for all clients.

We are delighted that Cody and Adam have chosen to work with us. They are looking forward to helping you find the home of your dreams. We are still on the look-out for another listing specialist to join our team. Please email a resume to if you are interested in working with the best real estate team in Northwest Indiana.

Now is a great time to invest in real estate! Call the real estate specialists for all your real estate needs!

New Home Buyer Tax Credit

by The Jana Caudill Team

Although the proposed $15,000 home buyer tax credit did not pass legislation, President Obama did sign a similar, although smaller, tax credit to help stimulate our economy.

The new tax credit is equivalent to 10% of the purchase price of the home, capping at $8,000. The purchase must be made on or after January 1st, 2009 through December 1st, 2009. This only applies to first time home buyers. First time home buyers are considered those who have not owned a home for three years. The tax credit is subject to income limitations. Single buyers need a modified adjusted gross income of $75,000 or less to qualify for the full credit. Married couples need a gross income of $150,000. Those earning more may be eligible for reduced credits. Their new home has to be their principal residence for three years. Those who sell before three years will have to pay the tax credit back to the government. 

To compare the difference between the new tax credit and the previous tax credit, please click here.

This is another great reason why now is the time to buy a home. Let The Jana Caudill Team help you find the home of your dreams. Give us a call at (219) 661-1256.

Video-This Month in Real Estate

by The Jana Caudill Team

Affordability climbs as interest rates fall


Last week, the benchmark 30-year mortgage rate fell below 5 percent to reach an all-time low of 4.96 percent.

This rate is down from two weeks ago when it hit 5.01 percent.  "The outlook is very positive that these low mortgage rates will persist at least through the first half of the year. That is the timetable laid out from the Federal Reserve for pumping up to $500 billion in mortgage-backed bonds," said Greg McBride, senior financial analyst for

Low interest rates mean more affordable mortgage payments. Act now and get into your dream home today!

 Click here to read the full article from Market Watch.

Housing stats imply its time to buy


According to a recent report from Global Insight, an economic and financial analysis forecasting firm, current housing statistics indicate that now is the right to time to buy.

They claim that the U.S. housing market as a whole is undervalued by 3.8 percent. Global Insight analyzed 330 metropolitan areas in the United States and found that 241 metro areas experienced price declines in the third quarter of 2008 in comparison to 150 metro areas in the second quarter.

The markets that were hardest hit were in areas that were most overvalued three years ago. This study, a combined effort by HIS Global Insight and National City Corporation represented 78 percent of all existing housing units in the United States.

Low interest rates and increased affordability make today's market a buyer's dream!


Source: Global Insight (12/03/2008)

Numerous closing costs come with any mortgage. There's a fee for an appraisal and a fee for a credit report... and the lender has its fees, too. And don't forget about the attorney fee, title insurance and escrow charges. Closing costs can vary from state to state and province to province, but you really don't have much choice of whether you want a survey or if title insurance is right for you. There will be a variety of services performed and records searched by different companies, and none of these come free of charge.

But there is one closing cost that you can control: discount points or, more simply, points.

A discount point reduces the interest rate on your mortgage. One point is equal to 1 percent of your loan amount, so on a $200,000 loan one point equals $2,000.

Why do some lenders charge points? In reality, all lenders pretty much have the same rates; it's just that sometimes a lender will advertise a rate with a point or a rate without a point. But the decision to pay a point is yours alone.

A point will typically reduce your interest rate by a quarter of a percent on a 30-year mortgage. If your lender offers a 6.5 percent rate with no points, then you may also get 6.25 percent with one point. So how do you decide?

It's simple. Just take the difference in monthly savings gained with the lower rate and divide that into the point. The result equals how many months it will take to "recover" the amount

you paid in points. Let's look at an example.

A 30-year fixed-rate mortgage of $200,000 at a 6.5 percent interest rate would mean a monthly principal and interest payment of $1,264.14. By paying an additional $2,000 in the

form of a point, your rate would drop to 6.25 percent and the resulting payment would drop to $1,231.43; saving you $32.71 each month. When you divide that $32.71 monthly savings into $2,000 you get 61.14, or about 61 months. Your recovery

period is slightly over five years. That's a little long in my opinion and I've never been a big fan of paying points. Instead, I'd encourage you to take that same amount and pay down your principal.

Remember: The quarter percent difference in interest rates when paying a point is an imprecise, general mortgage rule of thumb. Whichever rate you get, be sure to divide the savings into the points paid to see how long it will take to recoup the difference.

Johnny Depp Makes Movie in Crown Point!


It's not every day that a major celebrity like Johnny Depp comes to our little town of Crown Point. Mr. Depp was here to portray Hoosier legend John Dillinger in the upcoming Michael Mann film, Public Enemies. For three days, they were filming the infamous breakout scene where Dillinger made his escape from the Lake County jail. Our office, which was not far from the film's shooting, was in an uproar. It was commonly stated that the film was the biggest thing to happen to Crown Point since Dillinger had made his escape seventy four years ago.

Traffic was heavy and many streets were blocked off while the film crew transformed the city to what it looked like back in 1934. People stood outside in the cold for hours in hopes to get a glimpse of the superstar. Since Crown Point Schools were on spring break, many children were present with their parents. Johnny Depp did make time to pose for pictures and shake hands between filming. Public Enemies, which also stars Christian Bale, is rumored to be released in 2009.     

For more information regarding John Dillinger, check out the John Dillinger Museum located in Hammond at the Indiana Welcome Center.

Displaying blog entries 11-19 of 19