Market Intelligence is Golden

During the peak of summer, we have so much going on; fun in the sun with family and friends, vacations, relaxing, and FAIRS!  In Elkhart County, we have access to many carnivals and county fairs, but there is one little town, that I believe, is worth checking out.  The weekend after the 4th of July, the little town of Bristol comes alive with the Bristol Homecoming.  For many years our family has been taking the kids there to go on carnival rides (with very few lines) and taking in the great music.

This past weekend was no different.  The homecoming starts on Thursday at 5:00 PM and runs until Saturday.  It ends with a BANG (literally!)

We have lived in many large cities, and have seen many fireworks, few compare to those you will find in this small town.  We start out by taking a boat out on the St. Joe River into downtown Bristol, achoring behind the Red Bird Tavern (usually having great live music outside for the evening) and waiting patiently for about 10:15 for the fireworks to begin.  Once they start, I promise you will not be disappointed!  They seem to go on forever, and the finale is unbelievable.  They are loud, colorful, bright and bring out the kid in everyone. 

So, next year, make time to take in a little of this small town, and make sure to stay for the fireworks!

During the peak of summer, we have so much going on; fun in the sun with family and friends, vacations, relaxing, and FAIRS!  In Elkhart County, we have access to many carnivals and county fairs, but there is one little town, that I believe, is worth checking out.  The weekend after the 4th of July, the little town of Bristol comes alive with the Bristol Homecoming.  For many years our family has been taking the kids there to go on carnival rides (with very few lines) and taking in the great music.

This past weekend was no different.  The homecoming starts on Thursday at 5:00 PM and runs until Saturday.  It ends with a BANG (literally!)

We have lived in many large cities, and have seen many fireworks, few compare to those you will find in this small town.  We start out by taking a boat out on the St. Joe River into downtown Bristol, achoring behind the Red Bird Tavern (usually having great live music outside for the evening) and waiting patiently for about 10:15 for the fireworks to begin.  Once they start, I promise you will not be disappointed!  They seem to go on forever, and the finale is unbelievable.  They are loud, colorful, bright and bring out the kid in everyone. 

So, next year, make time to take in a little of this small town, and make sure to stay for the fireworks!

During the peak of summer, we have so much going on; fun in the sun with family and friends, vacations, relaxing, and FAIRS!  In Elkhart County, we have access to many carnivals and county fairs, but there is one little town, that I believe, is worth checking out.  The weekend after the 4th of July, the little town of Bristol comes alive with the Bristol Homecoming.  For many years our family has been taking the kids there to go on carnival rides (with very few lines) and taking in the great music.

This past weekend was no different.  The homecoming starts on Thursday at 5:00 PM and runs until Saturday.  It ends with a BANG (literally!)

We have lived in many large cities, and have seen many fireworks, few compare to those you will find in this small town.  We start out by taking a boat out on the St. Joe River into downtown Bristol, achoring behind the Red Bird Tavern (usually having great live music outside for the evening) and waiting patiently for about 10:15 for the fireworks to begin.  Once they start, I promise you will not be disappointed!  They seem to go on forever, and the finale is unbelievable.  They are loud, colorful, bright and bring out the kid in everyone. 

So, next year, make time to take in a little of this small town, and make sure to stay for the fireworks!

During the peak of summer, we have so much going on; fun in the sun with family and friends, vacations, relaxing, and FAIRS!  In Elkhart County, we have access to many carnivals and county fairs, but there is one little town, that I believe, is worth checking out.  The weekend after the 4th of July, the little town of Bristol comes alive with the Bristol Homecoming.  For many years our family has been taking the kids there to go on carnival rides (with very few lines) and taking in the great music.

This past weekend was no different.  The homecoming starts on Thursday at 5:00 PM and runs until Saturday.  It ends with a BANG (literally!)

We have lived in many large cities, and have seen many fireworks, few compare to those you will find in this small town.  We start out by taking a boat out on the St. Joe River into downtown Bristol, achoring behind the Red Bird Tavern (usually having great live music outside for the evening) and waiting patiently for about 10:15 for the fireworks to begin.  Once they start, I promise you will not be disappointed!  They seem to go on forever, and the finale is unbelievable.  They are loud, colorful, bright and bring out the kid in everyone. 

So, next year, make time to take in a little of this small town, and make sure to stay for the fireworks!

During the peak of summer, we have so much going on; fun in the sun with family and friends, vacations, relaxing, and FAIRS!  In Elkhart County, we have access to many carnivals and county fairs, but there is one little town, that I believe, is worth checking out.  The weekend after the 4th of July, the little town of Bristol comes alive with the Bristol Homecoming.  For many years our family has been taking the kids there to go on carnival rides (with very few lines) and taking in the great music.

This past weekend was no different.  The homecoming starts on Thursday at 5:00 PM and runs until Saturday.  It ends with a BANG (literally!)

We have lived in many large cities, and have seen many fireworks, few compare to those you will find in this small town.  We start out by taking a boat out on the St. Joe River into downtown Bristol, achoring behind the Red Bird Tavern (usually having great live music outside for the evening) and waiting patiently for about 10:15 for the fireworks to begin.  Once they start, I promise you will not be disappointed!  They seem to go on forever, and the finale is unbelievable.  They are loud, colorful, bright and bring out the kid in everyone. 

So, next year, make time to take in a little of this small town, and make sure to stay for the fireworks!

Market conditions currently favor first time homebuyers. Historically low interest rates, affordable prices, large variety of properties to choose from and the new $8,000 First Time Homebuyer’s Tax Credit make this an ideal time for Buyers to make their move.

With this bill, first time homebuyers may now qualify for a tax credit up to $8,000 (the previous amount was $7,500) on the purchase of a principal residence.  In addition to increasing the tax credit limit the terms of repayment have been modified, in most circumstances the homebuyer no longer needs to repay the tax credit.

To ensure that you will receive the credit by the deadline of November 30, 2009, you should have an accepted offer no later than October 15, 2009.

Contact me for more information 574-970-3148

Article published Aug 8, 2009
Donnelly’s ‘Neighborhood Preservation Act’ foreclosure bill advances
Measure would allow people to rent their foreclosed homes from banks.
By ED RONCO South Bend Tribune Staff Writer
SOUTH BEND -- The light green house on St. John's Way is 49 years old and has 1,500 square feet of space, four bedrooms, two bathrooms, a one-car garage, and zero -- count them, zero -- residents.

Sure, the shutters could use some love from a can of paint, but it's in a relatively quiet neighborhood with well manicured lawns and across the street from a park.

The house is in foreclosure and has been empty since about October, according to neighbors.

On Friday morning, U.S. Rep. Joe Donnelly, D-Granger, stood in the driveway with this city's mayor and others, talking to reporters about a bill he is sponsoring that could keep people in homes like this one.

It's called the Neighborhood Preservation Act (H.R. 2529, if you want to look it up) and it allows banks to rent foreclosed homes to their occupants instead of evicting them.The American Bankers Association says it's a good idea, but other groups say it doesn't go far enough.

The bill was approved by voice vote in the House on July 29 and now sits in a Senate committee.

It allows the government to rewrite regulations to give banks more flexibility, including renting that property at the market rate to someone who can keep the lights on while the bank seeks a new owner.

There's no cost to the government, Donnelly said.

And while bankers aren't normally in the property management business, getting some income out of a distressed property is an option they would like to have, said Bob Davis, executive vice president of the Washington, D.C.-based American Bankers Association."I don't believe it's watershed in terms of it's going to dramatically change responses by banks," Davis said, "but it does provide additional flexibility for the regulators to permit banks to manage the troubled real estate assets they receive."

And that's why at least one group says the legislation won't make much difference for "the vast majority of homeowners who are facing foreclosure."

The Washington, D.C.-based Center for Economic and Policy Research said Donnelly's bill keeps control in the hands of banks, not homeowners.

In a statement issued the day the bill passed the House, the group pointed to data showing banks permitted to modify mortgages, by and large, haven't.

Earlier this week, the Treasury Department released numbers showing that banks have made few changes to troubled mortgages, despite new federal rules allowing them to do so."Given the limited impact to date of the various mortgage modification programs that have been put in place, a Right to Rent law seems the only plausible route toward providing homeowners with security in their house," said a statement from the group.

A Right to Rent law goes a step further than Donnelly's legislation by giving homeowners facing

foreclosure the right to rent their home for a long period of time (five to 10 years according to some issue briefing papers). It would be administered by a judge in the same way foreclosures are done, according to the center.

The American Bankers Association opposes that legislation, said Davis, its executive vice president, because it could put banks in financial stress.

Banks need the ability to evaluate options and stay financially viable, he said."Anything making the banks lose money means it's not making other loans in the community," Davis said. "That's why the regulator needs to say, 'Look, we can allow a bank to do something, but it needs to be done within certain guidelines.' "

Per The Elkhart Truth - Runway 9/27 is now open for takeoffs and landings.  This runway project was paid for by a $4.2 million grant through the Federal Aviation Administration, part of the American Recovery and Reinvestment Act passed earlier in 2009.

This project was completed in under 2 months and came in under budget at $3.9 million.

Eddy Street Commons almost ready
By DUSTIN GROVE WSBT-TV Reporter

SOUTH BEND — Just a little more than a year after breaking ground, construction on South Bend's $200 million Eddy Street Commons project is nearly finished.

A section of Eddy Street will reopen to traffic next week and in September, tenants will begin opening their doors.

Among them: Chipotle Mexican Grill, Follett bookstore, Anytime Fitness, and Kildare's Pub. A bank will also open along with Outpost Sports.

The second, third, and fourth floors of the development will be home to 300 resident units. Sixty-two will be ready for move-in next week and a rental office spokesperson said they're already 75 percent full.

The development, across the street from Notre Dame, includes 86,000 square feet of retail space and 75,000 square feet of office space.

Ashley Bedell, project manager at Kite Realty Group, said development of a Fairfield Inn and Suites will begin in the next few weeks.

South Bend Mayor Steve Luecke said it's among the biggest developments he can recall.

“It's really terrific to, particularly given the economy, to have this kind of investment in our community," said Luecke.

“Having some place for the students to go to eat or shop or do other stuff kind of gives (the area) a better feel,” said Courtney Leader, as she walked past the development on her way to the Notre Dame campus.

Five ‘town hall' meetings are scheduled Aug. 4 to 13 by State Rep. Tim Neese (R-Elkhart), in Elkhart and Granger.

Neese will discuss community and 2009 legislative session issues with the public.

Times, dates and locations:

7 to 8 p.m., Tuesday, Aug. 4, at Augustana Lutheran Church, 1133 Kilbourn St., Elkhart

7 to 8 p.m., Wednesday, Aug. 5, Elkhart City Hall, mayor's conference room, 229 S. 2nd St., Elkhart

Noon to 1 p.m., Thursday, Aug. 6, Uncle Henry's Restaurant, 822 N. Michigan St., Elkhart

7 to 8 p.m., Wednesday, Aug. 12, Granger Missionary Church, 50841 Birch Road, Granger

6:30 to 7:30 p.m. Thursday, Aug. 13, Trinity United Methodist Church, 2715 E. Jackson Blvd., Elkhart

For more information, contact Neese at (800) 382-9841.

The current economy has had numerous effects on the housing market, and increase in foreclosures, shorts sales, homes for sale, fewer buyers, and tougher financing. This has resulted in increased requests for lease options. 

A lease option is an arrangement between you and a seller to exercise the option to buy a house after you have rented it for a specific period. A portion of your rent would be applied toward the purchase if the option is applied. This is referred to as rent credit, which most institutional lenders will accept as part of the down payment if rental payments exceed the market rent and if a valid lease-purchase agreement is in effect, a copy of which must be attached to the loan application. Read any lease option arrangement carefully for details on transferring the option and other important concerns.

For information on lease options, please feel free to contact me!

My family decided to go to Five Guys Burgers and Fries on the second day of business.  They are located in the new area of University Park Mall.  I have been to a Five Guys on the East Coast many years ago and was super excited to share this with my husband.  The menu is as simple as you can find; Burgers (either with cheese, bacon or both...note:  the regualr burgers come with 2 patties or you can get a small burger with just one patty), hot dogs, grilled cheese, fries, and drinks.  Such a simple concept, and soo yummy!

So we get there at 5:00 pm on a Monday night, there are several people there, but not extremely busy.  We order; 2 cheeseburgers with everything (his with bacon), a large fry for us all to split, a hot dog for the kids and three drinks.We wait patiently for our food, which I have described as the largest cheeseburger you can imagine!  They call our number and my husband gets our food, he unwraps the foil to find a bun with condiments, lettuce and tomato,and unwraps the second only to find the same thing, but with bacon!  They forgot the patties!  I found this rather humorous since that is bascially all that they serve, besides, that's their name!  The owner was so apologetic and even gave us a gift card for our next visit.  We got a big kick out of it.

All in all, the food was abosolutely delicous and a great additionto the food choices in the area.  If you are in the area and looking for a simple burger joint, this place should not be passed up!

University Park Mall - 5 Guys Burgers and Fries

6501 Grape Rd #1105
Mishawaka, IN 46545

Tel: 574-271-2400

Fax: 574-271-4999

As we approach the end of the year and budgets are finally being approved, it seems that a dollar doesn't go as far as it did before.  Not only are personal family budgets struggling to make money stretch, but so is local governement.  With the reducuction in property taxes, and programs being cut, the cities are still trying to find where the money will come from.  If you are a resident of Elkhart, this is something you may want to be aware of.

Elkhart has been forced to cut more than $6 million from its budget over two years due to the reduced property tax.  Mayor Dick Moore claims that this fee is something they have to charge.  If the trash fee is not charged, the city will be in the red $1.6 million for 2009. 

So who will be charged?

The monthly fee will be for each residential unit in the city limits.  Therefore, housing providers owning several properties and multi housing units need to pay close attention to these fees as they will be charged per unit.  Businesses who pay for private removal will not be charged.

How much will it be?

$5.60/month in 2009 increasing to $11.20/month in 2010

This charge will show up on the residents ulitity bills.  The city will work with those in a hardship if they are unable to pay.

If you have any questions on this fee, please feel free to contact me.  I will try and answer all of your questions, or direct you to the proper person.

 

UPDATE....this did not pass, but the city expects that it is just temporary, and will be charged in the future (likely 2010). 

The home that will always stand out wll be one that is better than average.  So even if you are not currently looking to sell your home, maintain the value for future profits!

Keep up with repairs that every home needs.  Being proactive will help your home retain value.

• Have the carpets cleaned at least once a year.  I suggest after the winter snows and spring rains. 
• Clean, condition and polish woodwork and cabinets to improve the look and longevity.
• Paint the exterior approximately every 5 years.
• Trim bushes and fertilize lawns
• Check your roof!  Replacing a roof is a very costly repair.  Do periodic inspections or hire a roofing contractor to inspect your roof each year.
• Clean out those closets at least once a year.  Consider donating to a local charity or making some extra cash on Ebay!

 

When working with a Seller, I often tell them to put themselves in the shoes of the Buyer.  So what is going on in that buyers mind???

We know the internet has become something we can not live without.  90% of the home buyers out there know exactly what they want before they even step foot into a home for sale.  I have found, and fellow agents have found, we are not getting as many showings, because more and more people and weeding through the pictures and virtual tours on the internet.  That being said, it is well worth the effort to ensure these pictures are outstanding. 

The most important characteristics of a home are as follows:

• Location (69%)
• Curb Appeal (12%)
• "Homey" (10%)
• Size (9%)

78% of this is pre-determined (Location & Size) before they even start looking for a home, but 90% of it is pre-determined with an internet search (location, size, and curb appeal).  The marketing pictures on the internet will bring them to your home.

So, your pictures look great, and they make an appointment to see your home! What are their first impressions with the interior?

• Cleanliness, clutter and odors (35%)
• Decor (21%)
• Condition, lighting (16%)
• Floor plan (15%)
• Rooms (13%)

As you can see, the top three items (78%) is controllable by the seller. 

But as a seller, you want to sell this home fast!  What would prevent that from happening?

• Odors (29%)
• Clutter (17%)
• Decor (10%)
• Carpet (9%)
• Minor repairs (6%)
• unmet criteria (29%)

As you can see, if your home was just not what they were looking for, there is really not much you can do, but otherwise, you have a lot to work with!

The number one easy to fix problem would be painting.  If the color of your walls in too dark, too bold, too trendy, etc. it will be very difficult to see past that for many buyers.  I suggest using a fresh neutral color (such as Navajo Desert by Sherwin Williams) on the walls.  If the trim inyour home is white, touch it up for a clean crisp look.

Next fix would be cleaning.  Spring clean like you have never done before!  This will give your home a fresh feeling as well.  Don't forget light swithes and covers.  These are used on a daily basis and have a tendancy to look "dirty" in the cleanest of homes. 

If your home is in need of repairs (minor and major) or a large expense such as carpeting, consider giving a credit to the buyer at closing to put towards these items. 

Remember that first impressions are the most important!  Your home should feel warm and welcoming as they pull up to the front,  They should have an idea of what to expect inside as they walk to the door.  If the front door needs a fresh coat of paint, paint it.  Get into the mind of a buyer..... 

 

Despite recent slowdowns in some markets, housing remains a good long-term investment, and demographic demand favors housing over the longer term.

Real Estate is still one of the best investments you can make.  Homeownership offers immediate benefits and long-term value. Homeowners accumulate wealth for the future while enjoying the benefits of a shelter that they can use, improve and sell.

Reasons Why You Should Stop Renting

• Rents continue to rise

• Having no economic security, not knowing how much your rent may

go up in the next three years

• No tax benefits

• No price appreciation

Aid for First-Time Home Buyers

1

First-time home buyers who purchase a primary residence between April 9, 2008 and July 1, 2009, may be eligible for a tax credit up to $7,500

2 or 10% of the purchase price, whichever is less.

For more information, visit: http://thomas.loc.gov/

On the East side of Elkhart, just outside the city limits, you will find a subdivision named Meadowood Subdivision.  A smaller community with about 160 homes, most ranch style homes built in the late 60's.  The school system in Concord (Concord Eastside, Concord Junior High, Concord High School)

Sales in this area have remained strong over the last several years with homes increasing in value 3.5-5% each year.  The average sales price for homes is $150,000 with and average market time of 38 days.

If you are interested in more information on this subdivision, or other similar communities, please feel free to contact me.

If you are currently living in Elkhart or St. Joseph County, I am sure that you have seen Lori Harris' billboards adverting her Bootcamp Team Training.  I know that they got my attention, and in March I decided to join!

At the time, I was not in shape at all.  I knew it would be a challenge to complete, but what would be harder was the 5 am alarm clock going off.  But after 4 weeks I lost 14 pounds, 13 inches and 6% body fat.  So, I signed up again!  I am currently on my third month of working out with Lori and can honestly say it was one of the best decisions of my life.

She holds bootcamps all over the area; Elkhart, Granger/Mishawaka, New Buffalo, MI.  If you want more information, contact Lori or check out www.bootcampteamtraining.com