Northwest Indiana Real Estate Buzz

2589 Decatur St. - Lake Station

Thu, 01 Apr 2010 18:52:50 +0000

Cozy Ranch on quiet street just minutes from I-65 & I-80/94. Don’t be fooled, home is bigger than it looks. Large bathroom. Garage has ample storage space, will fit your car and all the toys! Nice grilling deck off back of home. Move in and make this home yours today! Perfect starter home or income property. Get in today to take advantage of the $8,000 Tax Credit. New roof in Oct. 2009 & furnace & hot water heater 2-1/2 years ago. Seller is offering a home warranty to buyer piece of mind.

Visit :Gina Bombin, NWI ReExpert

The Life of a G-Man

Thu, 28 Jan 2010 18:31:03 +0000

This is a great Human Interest Story on a Northwest Indiana Garbage Man.

January 28, 2010
BY JEFF MANES jeffmanes@sbcglobal.net

“… If I do not stop to help the sanitation workers, what will happen to them?”

– The Rev. Martin Luther King Jr., April 1968, Memphis, Tenn.

Chris Wilk lives in a gorgeous 3,200-square-foot home in Wheatfield with a finished 1,200-square-foot basement.

He and his wife, Gina, also have acreage. Their back yard features a gigantic swing set, sand box and an in-ground trampoline for their 9-year-old son, Ben.

Wilk, 36, can afford it; he pulls down $80,000-plus per year with benefits.

He’s a garbage man.

. . .

“I grew up in Crown Point,” Wilk began. “I wrestled (at 125 pounds) for Crown Point High School.”

Chris, wrestling for coach Scott Vlink’s Bulldogs might be part of the reason you can endure the job you do. Talk to me.

“I’m a commercial front-load driver for Waste Management. I work out of the Portage shop. I do gas stations, restaurants, the malls … .”

Do you have a partner?

“No, everybody works by themselves now, whether you’re on a commercial or residential route.”

View the Rest of Jeff’s Story: http://www.post-trib.com/news/manes/2015330,jmanes0128-wilk.article

FHA Changes On The Horizon

Thu, 21 Jan 2010 00:31:07 +0000

FHA Changes On The Horizon

January 20th, 2010 | Author: Scott Swinford, Mortgage Planner & Credit Expert

FHA just announced that there will likely be some changes to their requirements for insuring loans in the future. The main ones include an increase in the upfront mortgage insurance premium (UFMIP) and a decrease in seller concessions from 6% to 3%.

For those who don’t know what UFMIP is, it is the “downpayment” that a buyer makes on the mortgage insurance when they use an FHA insured loan. Conventional loans have mortgage insurance (MI) for any loan that is greater than 80% of the value of the property being used as collateral. The MI had become somewhat expensive for borrowers with sub-700 credit scores, causing some borrowers to take out 80-20 loans in the past to avoid it. Because of the losses to lenders over the past couple years, there are very few new loans written like this.

FHA charges a premium up front of 1.75% of the loan amount which can be financed into the loan itself and then a monthly charge of 0.55% each month for 5 years or until the loan-to-value automatically reaches 78%, whichever comes last. This premium is set to increase to 2.25%. On a $150,000 loan, the amount borrowed will increase by approximately $750.

Charming Home in Barcley Village, Merrillville, Indiana 46410

Fri, 08 Jan 2010 02:48:42 +0000

Charming home on dead end street in quiet neighborhood. Extra large lot compared to others in neighborhood. Fenced in yard and storage shed. Attached garage makes winters a breeze. Room to move around in this home with it’s two living rooms and bath and a half. Lower level den has new laminate flooring, fireplace, and sliding glass doors to a grilling patio. Home comes equipped with a security system. Use the 1st Time Home Buyers $8,000 Grant & make this home yours.

3 bedrooms, 1 1/2 baths, Garage, All Appliance Stay

For further listing information view here.

Gina Bombin, NWI Real Estate Buzz

McColly Real Estate

3 bed 1 bath Bugalow in Calumet City, IL

Tue, 13 Oct 2009 20:38:49 +0000

Charming 3 bedroom 1 bath ranch home with basement, extra large yard and 2 car garage. Updated through with fresh paint, new carpeting and kitchen and bath remodel. Home has original molding and hardwood floors.

To View Listing

Free First Time Home Buyer $8,000 Grant Seminar

Sat, 26 Sep 2009 03:10:27 +0000

Free First Time Home Buyer $8,000 Grant Seminar

Hosted By: NWI Real Estate Expert Gina Bombin with McColly Real Estate

Special Guests: Scott Swinford, NWI Loan Guy and Cordell Sylvie, President of MRI

Two Nights to Choose from:

Tuesday, September 29^th

6:30 – 7:30

Wheatfield Library

350 S Bierma St., Wheatfield

And

Wednesday, September 30^th

6:30 – 7:30

Demotte Library, Demotte

901 Birch St. SW

Space is limited so register ahead by email Gina@GinaBombin.com. Please include number in attendance.

Edit this entry.

First Time Home Buyer Returns

Thu, 03 Sep 2009 17:42:01 +0000

Return of the First-Time Homebuyers

SmartMoney Magazine by Brad Reagan

Here’s one more way the housing bust has changed the rules of the real-estate world: In this market, first-time buyers are getting VIP treatment. Indeed, they’re the star players in a nascent market revival. New?buyers accounted for almost half of all sales during the first part of the year, well above historic levels, according to the National Association of Realtors. Read Full Story

Gina Bombin, First Time Home Buyer Expert, Northwest Indiana Real Estate

Housing Starting to Stabilize

Thu, 03 Sep 2009 16:32:29 +0000

I ran across this article and wanted to pass it along:

Yes, the Housing Market Has Rarely Looked Better

by James B. Stewart
Wednesday, September 2, 2009provided by

Passing through the Fort Myers, Fla., airport a few weeks ago, I noticed people eagerly signing up for a free bus tour of foreclosed real?estate — with all properties offering water views. During the ride to my hotel, the young driver volunteered that he’d just bought his first house, paying $65,000 for a foreclosed?property in nearby Cape Coral that had last sold for over $250,000. He said he’d never expected to be able to buy anything on a driver’s salary, let alone something that nice.

Last week, Standard & Poor’s reported that its S&P/Case-Shiller U.S. National Home Price index of real estate values increased this past quarter over the first quarter of 2009, the first quarter-on-quarter increase in three years. Its index of 20 major cities also rose for the three months ended June 30 over the three months ended May 31, with only hard-hit Detroit and Las Vegas experiencing declines. The week before that, the National Association of Realtors reported that sales volume of existing homes was up 7.2% in July from June.

More from SmartMoney.com:• 5 Strategies to Lower Your Rent Now

• Return of the First-Time Homebuyer

• Is an FHA-Insured Mortgage Right for You?

Read the Full Story at Yahoo Finance

Gina Bombin, First - Time Home Buyer Expert, Northwest Indiana Real Estate

Side by Side look at the First Time Home Buyer Tax Credit changes

Thu, 26 Mar 2009 02:30:38 +0000

Some wonder what has changed from last years First Time Home Buyer tax Credit and 2009’s First Time Home Buyer tax Credit. Well now you can review them Side By Side.

Posted by Great Northwest Indiana Associates of Realtors GNIAR here is a side by side look at what the differences are. Take a look.

Gina Bombin, NWI Real Estate Pro

McColly Real Estate

Realtors® Recognize Importance of Keeping Big Banks Out of Real Estate

Thu, 26 Mar 2009 02:19:57 +0000

WASHINGTON, February 02, 2009

Allowing large national banks to enter into real estate brokerage and property management could be devastating to the safety and security of the nation’s economy, which is why the National Association of Realtors^® has been calling for legislation that would permanently ban banks from entering into real estate transactions.

“We thank Sens. Barbara Boxer, D-Calif., and Richard Burr, R-N.C., for their leadership in introducing legislation to prevent big banks from expanding their business to act as real estate brokers and managers,” said NAR President Charles McMillan.

During the introduction of the Community Choice in Real Estate Act on Friday, Sen. Boxer said, “Permitting banks to engage in commerce could compromise their lending decisions and create conflicts of interest while restricting consumer choice and competition among mortgage lenders.”

Some national banks had petitioned the federal government for the power to own and operate local real estate brokerage or property management companies. Since 2003 language has been included in annual appropriations bills to temporarily block implementation of these actions. The Community Choice in Real Estate Act would make the prohibition permanent.

“Imagine how much worse the crisis in the financial sector and our overall economy would be if banks had been permitted to enter into commercial activities such as real estate,” McMillan said. “We hope that Congress will work quickly to close any loopholes and pass laws that maintain the separation of banking and real estate and protect our nation’s economy from unnecessary and avoidable risks.”

For more info on this and how you can get involved visit Realtor.org

Gina Bombin, NWI Real Estate Professional