This is a SWEET graphic posted by the good folks over at Moving Authorities...check ‘em out!
real estate
Why It STILL Makes Sense to Buy a House by Moving Authorities (.com)
Also posted in Consumer News, Finances, home values, Property Taxes, real estate information, real estate news, repost, Tax Comments closed
The housing market recovery is on the way.
The good news: the housing market recovery is on the way…
The bad news: it’s probably 2 years away…
The problem:the large number of distressed properties that were being held up in the banks by the courts from hitting the market. These properties are referred to as the ‘shadow inventory’. Now, this shadow inventory is beginning to be released into the market as state courts allow the banks to continue the sale process, which was being investigated. This will cause the market to be “flooded” with distressed properties which will a) attract buyers away from non-distressed properties and b) lower comparable home values that assessors use.
How does this translate into a housing recovery?
Homeowners aren’t behind on their payment in as high numbers so the shadow inventory isn’t growing as quickly. So, once these homes get in the market and get sold, the market can come back down to normal inventory levels; recovery.
What’s this got to do with me?
If you’re thinking of selling, get your house on the market NOW! Once the market is hit with all these home, your sale price will likely drop significantly. Otherwise, consider call us in 24 month 
Cheers,
Brian
Also posted in Consumer News, foreclosure, home values, real estate news, Real Estate Report Comments closed
Downtown living
If you want to be in the hustle and bustle of the big city, look no further!
Sweet downtown pads!
We’ve got two great places listed here in downtown Lafayette. If you or someone you know wants to be in the most exciting part of town (excluding construction zones), then check these out. You could use as a rental or investment property or live there yourself. Be close to all the festivals, the restaurants and the nightlife that downtown Lafayette has to offer. Perfect for those who work in the central city! Give us a call, 765.497.0700 or email brian@russellteam.com, to be put in touch with one of our excellent buyers agents!
Cheers,
Brian
Also posted in "Green" Living, Buyers, Downsizing, Investment Property, Lafayette Comments closed
626 South Street, Lafayette IN
Using the plans he brought to Lafayette from Boston, Ira G. Howe, a well-to-do mill operator, built a block of three row houses to be occupied by himself and the families of his two children.
The two-story Italianate home is essentially rectangular with three projecting bays called “Boston swell fronts”. Red brick laid in Flemish bond is the principal material of the building with many decorative cornices and brackets painted tin and white stone.
White sand stone steps lead up to the front door. The windows are tall, narrow, and double hung. The double leaf doors (Victorian character) contain etched glass panels of floral design from France.
The entrance opens into a narrow hallway with a long, beautiful wooden staircase lit up with gorgeous chandeliers. High-ceilinged rooms include a front parlor, dining room, sitting room, and Zinn kitchen with a half bath. The front stairway leads to the master bedroom with sitting area and a huge dressing room and bath. The back stairway leads to the guest room.
The lower level , used as an office and conference area, is charming with its brick foundation walls and archways. This home is zoned for general business and there are two separate phone lines going into it. One for personal and one for business. Formerly, the lower-level hall was used as a pass through for the fire department and has front and back outside entrances.
The charming brick court yard connects the two-car garage to the home. This historic home is a pleasure to visit and a joy to own.
Also posted in Single-Family Home Comments closed
1306 Northwestern, West Lafayette IN
Awesome West Lafayette location!Hardwood floors under all main floor carpets! Huge lot! Walk to Purdue! (you couldeven park cars for games!) Home warranty available. Estate sale.
Also posted in Single-Family Home, West Lafayette Comments closed
3624 Union, Lafayette IN
Cute ranch home with wood floors & lots of light! Basement has egress window. Open stairway leads to basement. Large living & family areas. Priced for quick sale Newer roof and windows. Home warranty available.
Also posted in First-time Homebuyer, Lafayette, Single-Family Home Comments closed
708 Cincinnati, Lafayette IN
The Knight-Loeb House was completed in 1882 by Emerson P. Knight of New York City. Mr. Knight moved to Lafayette to establish a grain business and built his home at the corner of 7th and Cincinnati St.
The house, which is Italianate in style, is built entirely of brick with 14 ½ inch thick exterior walls and interior hall walls. The other interior walls, which are also brick, are only 9 ½ inches thick. He built into his house the latest technology for 1882. Three particular things make this house unique for its day and time: 1. Indoor water closet (toilet), which was located on the second floor at the top of the main stairway. 2. Central heat. There was a large coal fired stove in the basement that carried heat to all rooms of the house (except the maid’s room) via air ducts that were built into the very thick walls of the center hall. 3. A burglar alarm system. The alarm system was wired to all windows in the house as well as the doorways. The system was battery operated and set off an alarm if a window was raised. It was, however, ineffective if a window glass was broken. The woodwork and doors of the house are black walnut. The front doors are butternut. Please note the elaborate hinges and door hardware, which were originally nickel-silver plated.
Mr. Knight by 1895 had moved back to New York City and sold his home to Solomon and Carrie Loeb. Mr. Loeb was in the dry goods business with his brother Julius, who lived at the corner of 8th and Cincinnati St. Mr. Loeb’s business capabilities created Lafayette’s own Loeb’s department store. The Loeb family was one of Lafayette’s greatest philanthropists, giving a fountain and a theatre to Purdue University, a sports stadium to the city at Columbian Park plus many contributions to hospitals, schools, scholarship funds, etc. The Loebs lived in the house for over 50 years.
In 1950 the house was converted into 6 apartments. Being the 50’s, the emphasis was to make the house “modern” and the ceilings were lowered to eight feet, windows shortened and bricked in by one third of their original height. The heating system was changed to hot water. The modernizations came at a great cost to the original plaster crown moldings, ceiling medallions, and woodwork throughout the house.
In 1995 the house was restored to its original style and floor plan. Plaster ceiling medallions and crown moldings were restored. Window and ceiling heights returned to their original dimensions, period chandeliers or original fixtures were returned to the house. It now serves as a historic landmark and bed and breakfast inn.
Also posted in Commercial property, Investment Property, Lafayette, Single-Family Home Comments closed
Why Use A Realtor?
A Realtor can be an invaluable tool when buying or selling real estate
An often perused question is: Should I use a Realtor or not? People often underestimate Realtors and their importance in a real estate transaction. On both sides of a deal a real estate professional can be an invaluable asset, helping to keep deals together and run more smoothly.
For sellers Realtors are valuable in a number of ways. Realtors know the local market and how to evaluate the price your home should be sold at. A real estate professional will advertise, market and expose your home to other real estate professionals as well as the community at large, not to mention the large customer base that they may already have. A Realtor can help you set your home up for success by helping you present your property in a way that will appeal to potential buyers. Realtors are indispensable when it comes to contracts and making sure each step is carried out to the seller’s best interest.
For buyers a real estate broker can be an incredibly helpful tool when looking for real estate. Not only does a competent Realtor know his local real estate market and what is available but he also knows the community, its amenities and all that it has to offer. A Realtor will write a contract when a buyer has found his ideal property and will help the buyer follow through with each step until closing.
In a nutshell, Realtors are incredibly helpful in diminishing the stresses involved with buying and/or selling real estate. Contact an experienced Realtor in the area you are thinking of buying or selling property in today.
Also posted in Buyers, real estate information, Sellers Comments closed
Real Estate Report Sees Home Prices Rise, Sales Increase
Real Estate values and sales seem to be on the rise
Clear Capital Report sees home prices rise across the country when analyzing quarterly results. The report sees home value gains in all regions of the country, averaging out to 5%, with the Midwest gaining the most at 11.2%. The real estate improvements are linked with summer being a buying season, increased investment opportunity and the previous large drop in home values.
The second quarter of 2009 followed a period of extremely low real estate activity, couple that with tax incentives, low mortgage rates and reduced home values, and the evidence of a true buyer’s market became omnipresent. Acquiring a mortgage is probably still the most difficult part of the home buying process but money is strating to loosen. Increased sales volume indicates an improvement in the real estate sector, a welcome sign for a beleaguered economy.
For a complete look at the Clear Capital report click here.
Also posted in Consumer News, real estate news, repost Comments closed
On the Importance of Good Title
Here’s a story shared with us by the good people at Metropolitan Title:
If They Had Only Known
With all the uncertainty in today’s real estate market, homebuyers can be certain that purchasing an Owner’s Title Policy is a solid investment that will provide vital protection against losses should a problem with the title arise.
There are two types of title insurance: owner’s title insurance, called an Owner’s Policy; and lender’s title insurance, called a Loan Policy. Most lenders require a Loan Policy when they issue you a loan, and the fee is usually based on the dollar amount of your loan. It only protects the lender’s interests in the property. It does not protect the buyer.
A recent news article tells of a homebuyer who purchased a home on a land contract and made monthly payments of $1500 to the seller until they were able to secure a loan from a national lender. At the time, the lender required the buyer to purchase a Loan Policy. Because it is not required by law to purchase an Owner’s Policy, the homebuyer closed on the home with only the lender’s interest being protected by the Loan Policy.
Several years later, the owners of the home were notified that their house was being foreclosed on and the sale date was fast approaching. How could this have happened? As it turns out, there was a prior loan on the home that was never paid off by the previous owner. Because the current lender had required a Loan Policy, their interest in the property was covered. Had the current owners invested in an Owner’s Policy, they too would have been covered. Unfortunately, without title insurance, they lost their home. Additionally, the resulting foreclosure may adversely affect their credit standing for years to come.
The homebuyers in the story above stated, “We didn’t buy title insurance. We were first-time homebuyers. Had we known about title insurance, [we] definitely would have gotten it.” Many homeowners mistakenly think that because a title search has been done on the property their interest is protected.
One thing is certain…If more homebuyers were aware of the protection an Owner’s Title Policy provides, they would purchase one, andeliminate the unnecessary risk of losing their home.