Irene Tron

As I was clearing out files at home last week, I came across paperwork from our move almost 4 years ago to Valparaiso, Indiana. To my surprise, there were even the MLS flyers from the homes that we had our agent show us over one weekend. Since I did not have a license at that time, I sat down and went through the flyers slowly today - through the eyes of a real estate agent this time.

As I thought back to our search, I remembered that one simple word was the reason we even looked at the house that we ultimately bought. Before I tell you what that was, let me tell you a bit more. My first look at Valparaiso real estate started on the internet. One of the homes that came up within our price range was a 4 bedroom Dutch colonial. It was larger than we needed, at the high end of our price range, and the pictures on the MLS were not impressive. Nothing about it stood out to me except for one thing. One word in the description ... "LIBRARY".

You have to understand that my daughter and I love to read and love books. Between the two of us we have classics, fiction, cookbooks, dictionaries, plays, bible, commentaries, etc., so a home with a room for books sounded interesting enough to make us want to see it. I was convinced that I was not really interested in purchasing this one because I did not like the way it looked in the pictures. So we spent a day with our agent and our list of homes to look at. To my surprise by the end of the day, we had fallen in love with the Dutch colonial and the library. We had an accepted contract on the house by the end of the weekend and we closed 30 days later.

Lesson learned from this experience: Take time when inputing a listing on the MLS. You just never know what is going to catch the attention of a serious buyer. For one person, it may be the picture of the kitchen they have always dreamed of. For another, it may be as simple as a "LIBRARY."

Has anyone else noticed that things seem to be picking up in real estate? That sure seems to be the case in my neck of the woods - or should I say, my corn field in Indiana.

It was an abolutely beautiful, perfect day in Valparaiso, Indiana. Eleven people came through my open house today and I enjoyed each one of them. A sunny, spring day just seems to put smiles on people's faces. Is this a sign that the interest in purchasing a home may be picking up again? I'd like to think so.

Also, things have gotten a bit busier around the office this month. The board seems to have more pendings, listings, sold, etc, than January or February. Appointments are coming in from floor calls.

I hope others are seeing the positive signs also. A new, brighter day has dawned. Let's go out and make it great!

Irene
www.irenetronrealtor.com

OPEN HOUSE

3806 Pheasant Walk Dr
Valparaiso, IN 46383

Sunday, March 22, 2009
1:00 - 3:00 PM

Offered at: $333,900

More than meets the eye! With a total of 3 bedrooms and 3 baths, this meticulously maintained and maintenance-free townhome has much to offer. The ceramic tile foyer opens up to the dining and living areas. This large great room leads to a beautiful sunroom. Off of the sunroom, you will find the master suite with a luxurious whirlpool tub in the master bath. The second bedroom hs loads of built-in cabinets and is perfect for a home office. An additional living/rec. room also has built-in cabinets and a fireplace. A stereo speaker system can be found int eh sunroom, rec. room, and dining room. Upstairs is another large bedroom suite with vaulted ceiling, skylights, and a private bath. From the paved brick driveway to the brand new deck with lots of outdoor lighting, this is a must-see home.

For more information, please go to: www.irenetronrealtor.com

Hosted by:
Irene Tron
219-476-5459
www.irenetronrealtor.com

Real Esatate in Valparaiso, IN Porter County

Checklist for Moving

BEFORE YOU LEAVE:

Give address change to:

•o Post office

•o Charge account, credit cards

•o Subscriptions - magazines, etc.

•o Friends and relatives

Bank

•o Transfer funds

•o Arrange check cashing in new city

•o Arrange credit references

Insurance

•o Notify company of new location for coverage of health, fire, auto, etc.

Utility Companies

•o Gas, light, water, telephone, fuel

•o Obtain refunds on any deposits made

Medical and Dental Prescriptions

•o Ask doctor and dentist for referrals

•o Transfer prescriptions

•o Obtain birth records, medical records, etc.

And don't forget to

•o Empty freezer

•o Defrost freezer

•o Clean refrigerator

•o Clean rugs before moving

•o Arrange to have items wrapped for moving

•o Check with your moving counselor: insurance coverage, packing & unpacking labor, arrival day, various shipping papers, method and time of expected payment

•o Plan for special car needs of infants

•o Plan in advance for transporting your pets

On moving day

•o Carry enough cash or travelers checks to cover cost of moving services and expenses until you make banking connection in the new city

•o Carry jewelry and important documents yourself or use registered mail

•o Double-check closets, drawers, and shelves to be sure they are empty

•o Leave old keys needed by new tenant or owner with your realtor or a neighbor

At your new address

•o Check on service of telephone, gas, electricity, and water

•o Check pilot light on stove, water heater, and furnace

•o Have new address recorded on driver's license

•o Register car within 5 days after arrival in state in order to avoid a penalty

•o Get new driver's license

•o Register children in school

•o Arrange for medical services - doctor, dentist, etc.

Irene Tron
www.irenetronrealtor.com

What is a point?

•· One point is equal to 1% of the NEW loan amount

Why do lenders charge points?

•· Whenever government regulations, state usury laws, and/or competitive practices prohibit the lender from charging a rate of interest which would make the real estate loan competitive with other fields of investments, the lender must seek some method of increasing the yield for the investor. By charging "points" the lender can bring the real estate loan up to those other investments.

Are points called by different names?

•· Yes -- loan origination fee, commitment fee, discount fee, warehousing fee, funding fee, etc.

Who must pay the points?

•· FHA: the buyer is usually charged with the loan origination fee; the discount fee can be paid by buyer or seller.

•· VA: the buyer is usually charged with the loan origination fee and the funding fee. The discount fee must be paid by the seller.

•· Conventional: points can be paid by the buyer, the seller, or split between the two.

•· City/county/state government sponsored loans: vary - check what is published by them.

Does the number of points charged fluctuate?

•· Yes - if rates on mortgage loans are lower than other investments (such as stocks, bonds, etc.) then funds will be drawn away from the mortgage market. Also, when there is a heavy demand upon the money market because of business needs, military requirements, or other government borrowing, the result is that money for home mortgages becomes scarce and more expensive. When this occurs, more points may be charged. Points balance the market. They are not set by government regulation but by each lender individually.

Is there any way to lock in the number of points on VA loans?

•· Not without jeopardizing the sale. Even when a lender stipulates in writing the number of points to be charged, that guarantee states "if the interest rate is not changed by the government." Points charged on an FHA or conventional loan are usually not changed from commitment time to settlement.

Is FHA or VA financing unfair to sellers?

•· No - homes can sell faster because more buyers can qualify with the lower down payment requirement, lower interest rate, and long term loans with lowest monthly payments. Sellers receive cash for their equity to reinvest in a new home or other investment. The purpose of these loans is to provide purchasers the opportunity to buy homes with minimal cash investment and thus providing a larger market for sellers.

Are points deductible for income tax purposes?

•· Points on a home mortgage (for the purchase or improvement of and secured by the taxpayer's principal residence) are currently tax deductible if they are charged in the geographical area where the loan is made. To insure whether or not your points are deductible, please contact your tax accountant.

Irene Tron
www.irenetronrealtor.com