Portage, IN

It's been several years now since we have taken and sold listings of homes for sale that are

" Subject to Lenders Approval of a Short Sale" .

The process of getting these to close successfully has been, for the most part, becoming easier.

Perhaps it is from lessons learned along the way & doing the footwork and homework upfront before even agreeing to accept the listing and put a 'short sale' home on the market.

Lately, however, articles in major publications i.e 'Fewer Short Sales Come Up Short', point out that the part of the short sale process we do not control - the loss mitigation departments of lenders - are being more cooperative and responsive about getting short sales done.

In Indiana this year, a new law...HB1359 has helped bring answers to short sale offers within a 30 day time frame.

Since we've noticed this change in NW Indiana short sales....we are even accepting short sale referrals in our market area now from other Real Estate Brokers as a result. Just last week we closed on a short sale that was a referral from another REALTOR.

The lender complied with the new state law and the home closed 29 days after the offer was accepted by the lender! (59 days total from day of written offer).

Total Market Time on this Home = From For Sale Sign Up to signing the closing documents = 81 days in all. This is a relatively short market time for any home in NW Indiana, let alone a short sale property (where 3rd party negotiations, communications and many requirements above and beyond the usual and customary offer to purchase can lengthen the process of getting the deal closed :)

With cooperative sellers, saleable property and reasonable lenders, short sales in NW Indiana are closing easier & quicker than in years past :)

Yesterday I created my first virtual tour of a Daycare Center; it is located in Portage, Indiana. Click on the banner to check it out!

Here are a couple of photos:

Four Seasons Virtual Tours has been in business since 2006. We provide tours in Northwest Indiana and the Chicagoland area. You can see our latest real estate tours at Open House Northwest Indiana.

That's what we told our Buyer clients earlier this summer when they put in a bid on a Ranch home for sale that we showed them in Porter County, IN that ended up in a multiple offer situation.

Jeff showed them the comparable solds in the neighborhood and it was clear from the numbers that bidding up in this particular market to try and out do the other buyer was not in their best interest. Disappointed at first, they agreed to wait.

Low & behold, this week, we closed on another home with these same buyers. This home had double the square footage ( a Ranch with a full finished basement ) for thousands less in price than the previous home and in the same county ...and the best part - it was totally remodeled inside & out!

We moved quickly on this move in ready home and now they are happy homeowners!

Sometimes, Things happen for a reason :)

Portage Indiana will be hosting the first Perch Festand Gran Prix on August 7th through 9th. This three day Perch Fest will be at the Founder's Square Park in downtown Portage. Things to enjoy will include live entertainment nightly, a carnival, go-kart racing, and many vendor booths. Saturday and Sunday events include a fishing tournament, kite flying exhibition, and a battle of the Bands.

Click on this link for more information on the Perch Fest in Portage, Indiana.

Irene Tron
Making Real Estate Enjoyable in Northwest Indiana
www.irenetronrealtor.com

I just found the most amazing Japanese restaurant in Portage, IN. Located at the intersection of US Hwy 6 and Willow Creek Road, Fuji Japanese Restaurant has a beautiful and simple decor inside.

The food is delicious and reasonably priced. Lunch specials are available for around $7.00. Choices include sushi, appetizers, tempura, soups, and a variety of entrees.

The best part of the whole deal for me is that it is located just about down the block from the McColly Real Estate Office in Portage, IN. Guess where you can find me for lunch! Yep, at Fuji Japanese Restaurant, 5942 US Hwy 6, across from the Super K-Mart.

Irene Tron
Making Real Estate Enjoyable in Northwest Indiana
www.irenetronrealtor.com