After the mad rush for the homebuyer tax credits it is exciting to note that an effect has been felt in the market both locally and nationally.

Locally, existing single-family home sales were up 50.4% in the five counties covered by the Greater Northwest Indiana Association of Realtors, with a total of 787 homes sold as compared to 510 in April 2009.  This has also lead to some small price increases. The median selling price of a Porter County home in April was $150,000, a 3% increase from one year ago. Overall in Northwest Indiana, the median selling price moved up 8.4%.

In Porter County, existing home sales were up a whopping 112.8 percent in April, with 183 homes sold. In Lake County sales were also up strongly, rising 33.8 percent above the same month one year ago.

Nationally, home sales were up 22.8% in April from one year ago, distressed homes, such as those in foreclosure, accounted for 33% of sales nationally in April, down 2 percent from the month before. Investors accounted for 15 percent of sales in April, down from 19 percent the month before the overall existing home sales figures were up 7.6% over the previous month according to the National Association of Realtors.

As a whole region, the midwest had great news with existing-home sales rising 9.9% in April over the previous month and are 29.1% above a year ago. The median price in the Midwest was $146,400, up 5.8% from April 2009.

Affordability has also been talked about in terms that not all markets have affordable homes. This is important for those buyers who are thinking about purchasing a home in a region – with the market improving, it is unlikely that affordability will get better. Now really is a great time to buy with affordability at a five month high according to the National Association of Home Builders (courtesy of Realty Times)

Thinking of relocating to the Northwest Indiana area? You can use our moving truck for FREE!

As one of the top producing teams of experts in our field both locally and Nationally, our full service team strives hard to make sure your real estate transaction is a truly rewarding experience.

Finding your dream home or finding a buyer is only part of the challenge of a successful transaction. Click here to search Northwest Indiana Real Estate using our complimentary Northwest Indiana Real Estate MLS Search service. Alternatively please contact Jana Caudill and the team if you need more specific assistance in your Northwest Indiana Real Estate needs. You can call the office on: 219-661-1256 or email us on: jana@janacaudillteam.com

We believe you win in life by helping others. Thank you for this opportunity. We would love to help you too!

FHA has been vital in the First Time Homebuyer tax credit process that recently ended, in fact for many buyers FHA loans are still the only way to qualify for a loan. FHA is still helping insure that there is plenty of capital in the mortgage market to keep the market wheels spinning.

In fact, the use of FHA loan is so widespread that in 2009, more than 50% of first-time buyers used FHA to finance their home purchase, and nearly 80% of FHA’s purchase loans were to first-time home buyers. FHA also serves those who need to refinance out of risky adjustable-rate mortgages or subprime loans with high interest rates. In 2009, approximately 835,000 borrowers refinanced into lower interest rate FHA-insured loans, saving them an estimated $1.3 billion – WOW!

What was once an obscure lending  option used by so few, has now become a mainstay product offering for many banks. However, despite its popularity, it is vital the traditional private financing be returned by the banks. Which is happening, but slowly. But FHA has helped boost the market which leads us onto other exciting news:

The number of sales has not only increased, but in certain metropolitan areas across the country, home prices have stablized or even RISEN!

In fact, in the first quarter, 91 out of 152 metropolitan statistical areas showed higher median existing single-family home prices in comparison with the first quarter of 2009, including 29 with double-digit increases! This is bigvery exciting news! Sales increased from a year ago in 44 states and the District of Columbia; 31 states and D.C. saw double-digit gains while two were unchanged and four were down. This is very much the signs of a stable market. Northwest Indiana is out in the midwest where the median existing single-family home price slipped only 0.8 percent to $130,600 in the first quarter from a year ago and existing-home sales are 10.8% above the first quarter of 2009.

Overall, this is encouraging news. 2010 is a better year for real estate for Northwest Indiana and the nation as a whole. While lawmakers try to tinker with the mechanics around how FHA financing works, they are aware that it is vital to the continued housing recovery.

Thinking of relocating to the Northwest Indiana area? You can use our moving truck for FREE!

As one of the top producing teams of experts in our field both locally and Nationally, our full service team strives hard to make sure your real estate transaction is a truly rewarding experience.

Finding your dream home or finding a buyer is only part of the challenge of a successful transaction. Click here to search Northwest Indiana Real Estate using our complimentary Northwest Indiana Real Estate MLS Search service. Alternatively please contact Jana Caudill and the team if you need more specific assistance in your Northwest Indiana Real Estate needs. You can call the office on: 219-661-1256 or email us on: jana@janacaudillteam.com

We believe you win in life by helping others. Thank you for this opportunity. We would love to help you too!

This data is some of the most important that NAR has released in the last two years as it shows how the tax credit has caused a small surge in home sales. – Existing-home sales, which are completed transactions that include single-family, townhomes and condos, rose 6.8% in March  and are 16.1% above the level in March 2009.

Of course the news is not just in the month on month data, but the fact that sales are much higher than last years levels for nine straight months, and inventory has trended down from year ago levels for 20 months running. In fact, the tax credit has done what is was supposed to do – help stabilize the market and preserve home values (it is estimated that the credit saved $1 trillion of home values nationwide!)

Currently total housing inventory is at an 8 month supply with raw unsold inventory 21.7% below the record month of July 2008. Foreclosures (representing 35% of transactions) have been coming to the market and being absorbed at a managable pace with first time homebuyers representing 44% of transactions in March, up from 42% in February, while the level of investors remained at 19%.  The number of all cash transactions was again higher at 27% – which is interesting as the National Association of Mortgage Bankers says that mortgage applications are up 10% with rates under 5% on average that is no surprise.

Re: PRICING – The national median home price was up 0.4% overall, but for single family homes it was up 0.6%.

Single Family home sales themselves rose 7.3% and are 13.3% higher than a year ago – HOWEVER! Thats not all, median prices rose in 14 out of 20 metropolitan statistical areas reported in March in comparison with a year earlier. Five metro areas experienced double digit increases! Here in the midwest, sales rose 7.2% and were 15.9% up over March 2009.

The recovery is well underway nationally and here in Northwest Indiana where our economy is going from strength to strength - there still is that last chance to snap up a great home which is excellently priced and with a low rate mortgage loan with or without the credit is still here!

Thinking of relocating to the Northwest Indiana area? You can use our moving truck for FREE!

As one of the top producing teams of experts in our field both locally and Nationally, our full service team strives hard to make sure your real estate transaction is a truly rewarding experience.

Finding your dream home or finding a buyer is only part of the challenge of a successful transaction. Click here to search Northwest Indiana Real Estate using our complimentary Northwest Indiana Real Estate MLS Search service. Alternatively please contact Jana Caudill and the team if you need more specific assistance in your Northwest Indiana Real Estate needs. You can call the office on: 219-661-1256 or email us on: jana@janacaudillteam.com

We believe you win in life by helping others. Thank you for this opportunity. We would love to help you too!

Despite the harsh winter which has often delayed many plans here in Northwest Indiana Real Estate, we have February’s sales data from the National Association of Realtors. The news for the nation is that of slowed growth and steady home sales. Naturally the weather did delay some things and result in lower than expected figures. [Remember to click here to compared to January's figures from NAR]

Despite a national decline there were gains here in the Midwest in some figures, with home sales increasing 2.8% over January and a huge 8.8% over the previous years February figures. Existing home sales fell only 0.6% compared to the previous estimates BUT are 7% higher than February 2009!

Chief Economist for the National Association of Realtors, Lawrence Yun says that sales have been higher than a year ago with steady increases in sales over the last 8 months. Prices are firmer than before. What will be interesting across the nation as well as here in Northwest Indiana is the next couple of months with the looming tax credit deadlines.

What is the make up of the figures? Well, distressed homes, generally sold at a good discount, accounted for 35% of sales. First time homebuyers purchased 42% of homes in February, which was up from January’s 40%. With the level of investors purchasing also increasing – up to 19% from 17% in January. Which is great news – investors are seeing the opportunity!

More exciting is in the detail – Single family home sales were 4.3% higher than the previous February, while the big news is for Condo sales – they were up 30.3% higher than February 2009! Here is the video of the report from NAR:

Remember – the National Association of Realtors has a document entitled; Social Benefits of Homeownership and Stable Housing, stating that homeownership brings with it:

• Higher educational performance and better behavior of children
• Lower community crime rates
• Lessened welfare dependency among households
• More household participation in civic affairs
• Better household health

This means now is the time to buy here in Northwest Indiana!

Thinking of relocating to the Northwest Indiana area? You can use our moving truck for FREE!

As one of the top producing teams of experts in our field both locally and Nationally, our full service team strives hard to make sure your real estate transaction is a truly rewarding experience.

Finding your dream home or finding a buyer is only part of the challenge of a successful transaction. Click here to search Northwest Indiana Real Estate using our complimentary Northwest Indiana Real Estate MLS Search service. Alternatively please contact Jana Caudill and the team if you need more specific assistance in your Northwest Indiana Real Estate needs. You can call the office on: 219-661-1256 or email us on: jana@janacaudillteam.com

We believe you win in life by helping others. Thank you for this opportunity. We would love to help you too!

The Jana Caudill Team

Keller Williams Realty

503 East Summit St., Suite 1

Crown Point IN

Northwest Indiana goes technical!

Here in Northwest Indiana we are at the forefront of many things and are always growing and changing. For instance, it has been reported that $4.7 million has been allocated for Green Jobs in Northwest Indiana - that is U.S. Department of Labor money to retrain Steel workers in the region to become wind farm and solar energy technicians to ensure the region is at the forefront of emerging technologies.

Speaking of which, the internet is one of them – more and more Northwest Indiana communities and local governments are getting online! Which asides from helping keep up with the modern day also helps them go green by saving paper to post important information for residents online!

However, do not think that a local government website as just a boring information portal. Far from it. What the rest of the world has been enjoying for years (dynamic, exciting websites with rich content and e-commerce etc) local governments are just catching up!

Here in Northwest Indiana government websites in Porter and Lake Counties are great, with Porter County leading the way. In Valparaiso for instance, their delightful local government website offers the ability for you to pay some of your utility bills online!

Speaking of getting online, in real estate there has been a dramatic shift of homebuyers shopping for homes online first according to the National Association of Realtors. For instance, back in 1999 the usual yard signs, open houses etc were the traditional methods of finding out if a home was for sale, with only 37% of people shopping for homes online – compared to 2009′s 90%! What a difference a decade makes!

On that note – why not start your next home search for Northwest Indiana here:

Thinking of relocating to the Northwest Indiana area? You can use our moving truck for FREE!

As one of the top producing teams of experts in our field both locally and Nationally, our full service team strives hard to make sure your real estate transaction is a truly rewarding experience.

Finding your dream home or finding a buyer is only part of the challenge of a successful transaction. Click here to search Northwest Indiana Real Estate using our complimentary Northwest Indiana Real Estate MLS Search service. Alternatively please contact Jana Caudill and the team if you need more specific assistance in your Northwest Indiana Real Estate needs. You can call the office on: 219-661-1256 or email us on: jana@janacaudillteam.com

We believe you win in life by helping others. Thank you for this opportunity. We would love to help you too!

Wintery conditions aside! It is still a great time to buy a home in Northwest Indiana!

For instance, did you know that since 2000, the median selling price of a home in Northwest Indiana has increased more than 20 percent? This little known fact is promoted on the Greater Northwest Indiana Realtor Association website. Also that here in Lake County, the population is 493,000 which has grown by 3.8% since 1990!

Also, for November 2009, compared with November 2008 total sales volume of residential real estate in Lake County IN, was up 45.82% and for Porter County it was up 42.48%!

What does this show you may ask? Well, it shows that the area is on the grown and that buyers are snapping up properties to take advantage of the market conditions – particularly with the first time hombuyer tax credit.

That aside, despite the 9 month run on pending home sales increasing, the National Association of Realtors latest data shows that pending home sales have declined but are still way above a year before! Here un the Midwest the index fell 25.7 percent to 82.0 but is 9.2 percent higher than November 2008. This however, is partly expected due to the initial pent up demand being tapped into thanks to programs like the tax credit. This means that we will likely see steadier growth over the next few months as the recovery continues – NAR notes that the rock bottom interest rates as they are right now cannot continue!

So if you are thinking of buying a home this January, now is the time to do it – don’t wait until later in the year when the tax credits end, rates will likely be higher and, likely so will prices!

Thinking of relocating to the Northwest Indiana area? You can use our moving truck for FREE!

As one of the top producing teams of experts in our field both locally and Nationally, our full service team strives hard to make sure your real estate transaction is a truly rewarding experience.

Finding your dream home or finding a buyer is only part of the challenge of a successful transaction. Click here to search Northwest Indiana Real Estate using our complimentary Northwest Indiana Real Estate MLS Search service. Alternatively please contact Jana Caudill and the team if you need more specific assistance in your Northwest Indiana Real Estate needs. You can call the office on: 219-661-1256 or email us on: jana@janacaudillteam.com

We believe you win in life by helping others. Thank you for this opportunity. We would love to help you too!

Things are certainly hotting up in Real Estate right now – despite the falling temperatures!

The National Association of Realtors has the latest on Pending Home Sales, the news is again, fantastic! The latest figures are the 9th consecutive month for a rise in the number of pending home sales in the pending home sales index! The first since 2001 when the index was created.

For October the index increased 3.7 percent to 114.1 from 110.0 in September, and is 31.8 percent above October 2008 when it was 86.6. The rise from a year ago is the biggest annual increase ever recorded for the index, which is at the highest level since March 2006 when it was 115.2.

NAR’s Cheif Economist, Lawrence Yun says that he expects home sales to be 5.5 – 6 million this year. Here in the Midwest the index rose 11.6 percent to 109.6 and is 36.6 percent higher than October 2008.

 This is fantastic news! Falling inventory as well as low mortgage rates offer a great opportunity for buyers. Also, as we mentioned before, home prices in the area are relatively stable!

With mortgages in mind, the Federal Housing Administration mortgage insurance program is a critical part of the American housing fabric and has never been more important than it is in today’s market. So far in 2009, nearly 80 percent of all FHA insured purchasers are first-time homebuyers. The First Time Homebuyer Tax Credit has of course helped boost home sales in the region.

Despite skepticism by some, it is clear that we have reached a turning point. Buyers know that real estate here in Northwest Indiana offers a unique opportunity right now and are taking advantage of the situation.

Here in Lake County the increase in Pending Home Sales was greater than the national figures at 12.6% and in Porter County it was up 6%!

So in short – now is the time to act if you want a home in Northwest Indiana for the new year!

Thinking of relocating to the Northwest Indiana area? You can use our moving truck for FREE!

As one of the top producing teams of experts in our field both locally and Nationally, our full service team strives hard to make sure your real estate transaction is a truly rewarding experience.

Finding your dream home or finding a buyer is only part of the challenge of a successful transaction. Click here to search Northwest Indiana Real Estate using our complimentary Northwest Indiana Real Estate MLS Search service. Alternatively please contact Jana Caudill and the team if you need more specific assistance in your Northwest Indiana Real Estate needs. You can call the office on: 219-661-1256 or email us on: jana@janacaudillteam.com

We believe you win in life by helping others. Thank you for this opportunity. We would love to help you too!

The National Association of Realtors has released yet more information about home sales and inventory levels as part of its monthly offering of data.

The news is fantastic and very encouraging for the US as a whole.

Naturally driven by the First Time Homebuyer Tax credit in what was its final weeks, sales showed a huge boost in October.

In fact, sales of single-family, townhomes and condominiums jumped 10.1% to a seasonally adjusted annual rate of 6.10 million units in October, a massive increase of 23.5% above October 2008 and the highest sales activity since February 2007! This increase has lead to a decline in inventory, which fell at the end of October by 3.7% to 3.57 million existing homes available for sale, which represents a 7 month supply at the current sales pace, with unsold inventory totals that are 14.9% below a year ago.

Of course things are expected to level off after such a spike in figures, however now that the tax credit has been extended and expanded, potential buyers have until April 30th 2010 to have a contract in place – this will allow the demand for housing to continue. Particularly with low interest rates continuing – in fact, Mortgage interest rates last month were the third lowest on record, dating back to 1971!

However, locally here in the Midwest, things are even more exciting! Existing home sales in the region surged a huge 14.4% in October to a pace of 1.43 million and are 28.8% above a year ago. The median price in the Midwest was $146,600, a gain of 1.1% from October 2008.

With the local economy holding up well, this comes to no surprise to us here! As well as communities such as Valpo being voted as Community of the Year 2009. Why wouldn’t you want to live here!

With a rapidly depleting inventory, interest rates and affordability at their lowest for over 30 years now is the best and probably last chance to snap up a great home at a great price.

We do understand that moving your family to another town or state is a major event in your life! We have helped many families and individuals relocate to and from the Northwest Indiana Area. Request Our Free Relocation Package. Don’t Move To Northwest Indiana Area Without It! 

Remember – You can use our moving truck for FREE!

As one of the top producing teams of experts in our field both locally and Nationally, our full service team strives hard to make sure your real estate transaction is a truly rewarding experience.

Finding your dream home or finding a buyer is only part of the challenge of a successful transaction. Click here to search Northwest Indiana Real Estate using our complimentary Northwest Indiana Real Estate MLS Search service. Alternatively please contact Jana Caudill and the team if you need more specific assistance in your Northwest Indiana Real Estate needs. You can call the office on: 219-661-1256 or email us on: jana@janacaudillteam.com

We believe you win in life by helping others. Thank you for this opportunity. We would love to help you too!

News released by the National Association of Realtors indicates great news for the national housing market – the number of pending home sales has risen for the 8th consecutive month!

This is great news showing that the housing market turnaround is truly underway!

The Pending Home Sales Index, a forward-looking indicator used by NAR, based on contracts signed in September, rose 6.1% to 110.1 from a reading of 103.8 in August, and is a whopping 21.2% higher than September 2008 when it stood at 90.9. The gain from a year ago is the largest annual increase on record, and the index is at the highest level since December 2006 when it was 112.8.

While the increase of 21.2% over last September may sound huge, it is made up of different figures from different regions, here in the midwest the increase was a still impressive 8 percent! Naturally the increase was attributed to the increase in first time homebuyers snapping up homes to take advantage of the credit.

With the extension of the credit now is the time to still grab a fantastic house at a great price - contact us today for assistance if you are a first time homebuyer!

As one of the top producing teams of experts in our field both locally and Nationally, our full service team strives hard to make sure your real estate transaction is a truly rewarding experience.

Finding your dream home or finding a buyer is only part of the challenge of a successful transaction. Click here to search Northwest Indiana Real Estate using our complimentary Northwest Indiana Real Estate MLS Search service. Alternatively please contact Jana Caudill and the team if you need more specific assistance in your Northwest Indiana Real Estate needs. You can call the office on: 219-661-1256 or email us on: jana@janacaudillteam.com

We believe you win in life by helping others. Thank you for this opportunity. We would love to help you too!

Crown Point IN

Great news from the National Association of Realtors – they have released their monthly real estate sales data for the nation and for all regions.

Here in the midwest sales were up – thanks in part to the First Time Homebuyer Tax Credit. Buyers in Northwest Indiana are buying up properties at an increasing rate to take advanage of the credit as well as the current pricing and low mortgage rates.

Here are the numbers: Existing-home sales in the Midwest jumped 9.6 percent in September to a pace of 1.25 million and are 7.8 percent above a year ago. The median price in the Midwest was $147,600. With the local economy holding up so well in Northwest Indiana, it is no wonder that homesales are up!

Nationally, things were also on the up! Single-family home sales rose 9.4 percent and condominium sales jumped 9.7 percent. Overall, existing-home sales, including single-family, townhomes, condominiums and co-ops – jumped 9.4 percent to a seasonally adjusted annual rate of 5.57 million units in September from a level of 5.10 million in August, and are 9.2 percent higher than the 5.10 million-unit pace in September 2008. Sales activity is at the highest level in over two years, since it hit 5.73 million in July 2007!

Also with this level of sales activity inventory has fallen, Total housing inventory at the end of September fell 7.5 percent to 3.63 million existing homes available for sale, which represents an 7.8-month supply at the current sales pace, down from an 9.3-month supply in August. Unsold inventory totals are 15.0 percent below a year ago. This is fantastic news!

So, if you are looking to purhase a home in one of our communities here in Northwest Indiana then contact us, the Jana Caudill Team for specialized real estate assistance.

As one of the top producing teams of experts in our field both locally and Nationally, our full service team strives hard to make sure your real estate transaction is a truly rewarding experience.

Finding your dream home or finding a buyer is only part of the challenge of a successful transaction. Click here to search Northwest Indiana Real Estate using our complimentary Northwest Indiana Real Estate MLS Search service. Alternatively please contact Jana Caudill and the team if you need more specific assistance in your Northwest Indiana Real Estate needs. You can call the office on: 219-661-1256 or email us on: jana@janacaudillteam.com

We believe you win in life by helping others. Thank you for this opportunity. We would love to help you too!

Crown Point IN 46307