Check my new Active Rain Account as well!!!!

TAX CREDIT EXTENDED FOR FIRST TIME HOME BUYER AND NEW TAX CREDIT FOR BUYERS WHO HAVE LIVED IN A HOME FOR FIVE YEARS

Signed into Law today were two very important tax credits that effects real estate. First is the $8,000 first time homebuyer credit has been extended to April 30, 2010. Second a tax credit of $6,500 for buyers who are current homeowners who have lived in there home for five years of the past eight years. Income caps were also increased from 75K to 125k for individuals and 150k to 250k for couples with a capped price of the property at $800,000.

Let me know what I can do to help you buy a home its a great market to buy a home with lower prices and lower interest rates.

Home Resales Rise in September

Home resales in September rose by 9.4%, the largest increase in 26 years beating out the Wall Street Forcast. This increase is because of the rush of buyers buy homes before the 8,000 tax credit expires on November 30 of this year.
Let me know if there is anything I can help you with!!!

For Sale: 3BR/1BA Single Family House in Hebron, IN, $127,000

For Sale: 3BR/1BA Single Family House in Hebron, IN, $127,000

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For Sale: 2BR/1.5BA Townhouse in Crown Point, IN, $143,900

For Sale: 2BR/1.5BA Townhouse in Crown Point, IN, $143,900

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First Time Home Buyers

For first time home buyers the day of no more 8,000 tax credit is appproaching. The tax credit os only good if you close on your property by November 30. And since it takes about 30-45 days tp close on a home. Your have only about a month to a month in a half to take advantage of this deal!! Now there has been some rumors out there that about increasing the crdit amount or extending the credit deadline. Right now according to Realtor.com(See attached link) there is a bill that would up the tax credit to $15,000 but don't count on that happening.

http://www.realtor.org/RMODaily.nsf/pages/News2009082401?OpenDocument

Anyways, look me up if you have any questions regarding real estate in Northwest Indiana!!!!!

Second Quarter Existing Homes Sales Rose in Second Quarter

Exsisting home sales rose in the second quarter 3.8%. These sales are a result of lower interest rate, lower home prices and the first-time buyer tax credit. Indiana is one of the states that has seen double digit gains. The median sales price in the Midwest was 148,000 per home
See attached link from Realtor.com for more information on these numbers.

http://www.realtor.org/RMODaily.nsf/pages/News2009081201?OpenDocument

If you have any question in regard to the Northwest Indiana Real Estate Market give me a holler!

For Sale: 3BR/1BA Single Family House in Hebron, IN, $127,000

For Sale: 3BR/1BA Single Family House in Hebron, IN, $127,000

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Porter County Real Estate Numbers Jan.1 - August 1 2009

Currently in Porter County there is 1,340 properties for sale, with an average Days on the Market of 139 days, with an average list price of $287,984. Pending sales are at 232 with an average of 130 days on the market. Sold's in Porter County are broken down with 696 since the begining of the year with an average price of $188,586 per home. And the average days on the market is 115. 404 of those sold homes are in the 100K-250K range.

100% Finanancing for Homes in Rural Area

Thinking about moving but still don't have enought money. Check out the USDA loans. These loans are for buyers who can qualify and they require no money down. Now they have to be in rural area such as Lowell, Hebron, Demotte, Wheatfield etc. Loans are for 30 years and the house must meet the same condition requirements for an FHA home loan. Check out the site below for more information in regard to there loan programs. This program does work because I have done two of these deals already this year.

USDA Website for Rural Loans
http://www.rurdev.usda.gov/RHS/sfh/brief_rhguar.htm

If you have any questions, give me a holler!!!!

For Sale: 4BR/3BA Single Family House in Hobart, IN, $172,000

For Sale: 4BR/3BA Single Family House in Hobart, IN, $172,000

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Northwest Indiana Real Estate Market as of July 28

Taking a look at some Lake County Real Estate Numbers, we see that from Jan. 1 to July 28, 2009, there have been 4,309 properties on the market, the average days on the market is 139 days, average list price is $174,000 per property. Sold properties for Lake County Real estate is 2,171 homes sold and an average of 97 days on the market, with an average sales price of $115,321.

On another front today the Department of Housing is reporting that new home sales rose 11% in the month of June, which is a good sign for the housing market.

Check out my blog tomorrow, where I will be looking at the Porter County Real Estate Market. Also, if you have any question on the market or have some real estate needs, please email me at dwhitehead@kw.com or visit my website nwihomesearch.com

What is happening in the Real Estate Market

How is the Real Estate Market??

According the National Association of Realtors(NAR), exsisting home sales rose for the third consecutive month as inventory decrease and home price decline slightly. Sales increased 3.6% in June over May. Another positive sign for the market is a decline in inventory. June inventory fell .7% which represents about a 9.4 month supply at current sales pace. First time home buyers accounted for 29% of the transaction in June.
By Region in the Midwest sales increased .9$ The median price in the Midwest was $157,000 which is 9.1% below a year ago.
If you want to read the whole article below is the link:

http://www.realtor.org/RMODaily.nsf/pages/News2009072301?OpenDocument

A little peak at tomorrow blog: A look at the Northwest Indiana Real Estate Market

Real Estate Introduction

Hi Everyone,
Thanks for checking out my blog. The goals of this blog is to provide information regarding the local real estate market, as well as the local real estate trends and to provide information on the whole home buying process. Because trust me it can be a long time consuming process. The areas that I plan on concentrating on is Lake, Porter, Jasper and Newton counties. So if you have any suggestions or thoughs or things real estate related please let me know. I also have more information available on my website www.nwihomesearch.com.