Real Estate Information Archive

Northwest Indiana has so much to offer. Enjoy the beautiful shores of Lake Michigan, take a short South Shore train ride to the big city, or stick close to home and enjoy one of the many great downtown areas from Crown Point to Valparaiso.

For a night of fun, head out to the ball park and see Northwest Indiana's minor league baseball team, The Gary South Shore Railcats.

Northwest Indiana offers a dining experience you won't soon forget.  From burger joints to fine dining, there is surely something for everyone.

For all you shop-a-holics, Northwest Indiana features anything from large shopping centers and outlet malls to quaint downtown boutiques.

Let's not forget, Northwest Indiana has 2 great waterparks!  Some regions don't even have one!

Visit the Dunes National Lake Shore, and on a clear day you can see the beautiful skyline of Chicago. Bask in the sun, play in the water, or climb atop Mount Baldy and see for miles.  If you enjoy hiking or biking, The Dunes National Lake Shore offers miles of trails.

These are but a sampling of the great amenities Northwest Indiana has to offer. 

If you are considering a move to Northwest Indiana, let The Lynda Anderson help you make the move of your dreams.

(219) 531-MOVE (6683)

www.531MOVE.com

The deadline for the $8,000 tax credit is quickly approaching.  If you are on the fence about buying a home, now is the time.  Below are common questions and their answers. You may find these helpful in making your decision. 

The following information was obtained from the National Association of REALTORS website Realtor.org

As part of its plan to stimulate the U.S. Housing Market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers.

Who qualifies?

First time home buyers who purchase homes between January 1, 2009 and December 1, 2009.

To qualify as a "first-time home buyer" the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Which properties are eligible?

The 2009 First-time Home Buyer Tax Credit may be applied to primary residences, including: single family homes, condos, town-homes , and co-ops.

How much will the credit be?

The maximum allowable credit for home buyers is $8,000. Each home buyer's tax credit is determined by two factors:

The price of the home-the credit is equal to 10% of the purchase price of the home, up to $8,000.

The buyer's income-single buyers with incomes up to $75,000 and married couples with incomes up to $150,000-may receive the maximum tax credit.

If the buyer(s)' Income Exceeds These Limits, Can He/She Still get a credit?  

Yes, some buyers may still be eligible for the credit.

The credit decreases for buyer's who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income-over $95,000 for singles and over $170,000 for couples are not eligible for the credit.

Will the tax credit need to be repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more.  However, if the property is sold during the three-year period, the credit will be recouped on the sale.

For additional information Call The Lynda Anderson Team today!

219-531-MOVE (6683)

Making your home more attractive in the buyer’s eyes is a sure way to get a good price for your home, and it will speed up the sale.  Here are 5 suggestions to make your home sell faster:

• Conduct a pre-sale inspection with a home warranty.
  A pre-sale inspection gives the buyer a baseline evaluation and condition of the house.  Inspection costs range from $200 to $500.

• Offer a Home Warranty.

A home warranty policy offers you and the buyer some protection against unexpected repairs.  Warranties range from $300 to $400.

• Pretend you're the buyer.
  The more pleasing and memorable the experience of viewing your home, the more likely a buyer is to either make an offer on the spot or return to see it again.  Set aside your emotional attachment and act on your instincts.  Warm up the decor if it seems sterile.  Trim your shrubbery if it blocks a clear curbside view of the house.

• Offer financial help.
  Aiding a buyer financially can be tricky, but in the right circumstances (for example, if you have a lot of equity), assisting the buyer with closing costs can make a deal happen.

• Be flexible about move-in arrangements.
  There is nothing that will kill a sale faster, than a buyer that either has to wait for a long period of time before closing and moving or that has to find temporary housing after closing because the house is still occupied (either by you or by tenants).  If you think you may not be able to move out of your home or have it vacant prior to the closing date, contact both your attorney and real estate agent and make sure the necessary provisions are made in order to avoid problems in the future, where you may end up losing money.

For more tips and ideas...

Please call the Lynda Anderson Team @ 219-531- MOVE(6683)!

The following are a few keys terms you need to understand before going to the closing table.

Application Fee:  Fee charged by lender to offset fixed costs related to mortgage loan processing such as appraisal, credit report, and underwriting.

Closing Fee:  The fee charged by the closing agent who prepares the closing documents and closes the loan on behalf of the lender.

Commitment Fee:  This is often called an origination fee and is generally computed at 1% of the mortgage amount.

Discount Points:  Each point is equal to 1% of the mortgage amount. Points are used by the lender to adjust the yield on the mortgage when it is sold to an investor. By paying more points, the borrower can obtain a lower mortgage interest rate.

Funding Fees:  Normally applicable on VA loans only, equal to 1% of the loan amount. The fee is due at closing or may be added to the loan amount and financed.

Homeowner’s Insurance:  One year premium is due in advance at time of closing.

Mortgage Insurance:  Insurance required by the lender when the down payment is less than 20%. In the case of loan default, this insurance reduces the lender’s loss.

Pre-payables:  Adjustment to escrow accounts from the date of closing to the date of the first payment. Interest is paid through the end of the month of closing, taxes are paid through the end of the month of closing plus the following month. Two months of PMI (Principle Mortgage and Interest) are collected. Two months of homeowner’s insurance may be collected. A homeowner’s insurance policy must be provided along with a receipt showing that the first year’s premium is paid.

Processing Fee:  Fees charged by the escrow processor, either working for the escrow company, title company, or real estate company, for administrative escrow services performed from the point of contract through closing.

Recording Fees:  Fees charged by state or municipal entities for entering the closing documents into the public record.

Survey Fee:  Is usually required and is used by the lender to check for encroachments from within or from outside the subject property.

Title Insurance:  Provides protection for lenders and homeowners against financial loss resulting from legal defects in the title.

Underwriting Fee:  Usually included in the application fee. However, practices vary from lender to lender.

If you need help understanding any of these terms, please do not hesitate to call The Lynda Anderson Team.                      

 219-531-MOVE(6683)

 When selling your home, your goal may be to get the best possible price.  We hope that you find the following information useful and interesting.   

Here is a great idea to help you get the best price for your home.

To get the best price for your property, prepare to pinch pennies, present well, and drive a hard bargain with buyers.  Here is a tip that works wonders when the property is right:

Price Low to Sell High

Most people believe that by pricing their homes high, they can get interested buyers who will make a lower offer and reach a price that is agreeable to both parties.  The truth is, buyers may not even get to make an offer because the price is too high to begin with.

However, one uncommon way to generate demand for your home is to offer it at or below market value.  So-called below-market pricing works best in a brisk market and typically generates multiple offers.  Multiple-offer situations inevitably ratchet up the price and deliver the best contracts for sellers.  However, for below-market pricing to work, your property must be in high demand.

For more information about selling your home, please do not hesitate to contact The Lynda Anderson Team @ 219-531-MOVE(6683).

In this ever-changing world of real estate. it is so important to keep educated. The Lynda Anderson Team is doing just that.  This week they will be attending the Star Power Conference in Denver, CO. Each team member will be participating in highly tailored and specialized class. They will return with a wealth of information to better serve their clients.

Knowledge is POWER!   Have a wonderful week.

5 Great Reasons to be a Pre-Qualified Buyer