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.

2 bedrooms, 1 bath, 992 square feet

Extra lot 66-15-04-324-011-000-014. New roof. Pool stays. Fenced Yard. Home warranty available.

See this Francesville home for sale soon! Please call my office at 765-497-0700 or email Cathy for more information. We would be happy to set up a private showing for you! You can also view more photos of this home and search the entire Indiana MLS at www.cathyrussell.com

Hi Everyone!

Brian here… and I can’t believe that I’m actually getting excited about gutter products…

It’s rainy season; it’s fall. If you’re like me, and you hate climbing up and down a ladder to clean the leaves out of your gutters each fall or watching your gutters turn into minature waterfalls, then you need to check out GutterShed!
I won’t bog you down with the details, you can click the link above to visit the website where Dr. Stephen Ash and his staff explain it better, but I will tell you they work better than any “netting” or “helmet” version I’ve ever tried.
Installation? Piece of cake. It took me about 3 hours on a Saturday morning while I listend to the Purdue football game on the radio. No drill or other electrical equipment. Just the GutterPunch, GutterTies (both inventions of Dr. Ash) and a pair of kitchen shears.
As a BIG supporter of local business, when I saw the article in the Journal & Courier, I knew I wanted to help support Dr. Ash and his product.
In response to our support, Dr. Ash offered to give a 25% discount to our customer, friends and family who would like to purchase GutterSheds for their homes. (Full disclosure: No kickbacks for us!) It’s being sold locally at Von Tobel’s and if you’re out of town, you can order direct through info@GutterShed.com (see coupon below)

Thanks for your support,

Brian Russell

*Coupon*

For Friends of Cathy Russell

Limited Time Offer: 25% Discount for Purchase of Gutter Protection that Finally Works,  GutterShed

$12 per four foot plate (usual price $16 per plate)

Offer Good to Dec. 31, 2011

Present this Coupon at Von Tobel’s Lumber, Lafayette, Indiana to Obtain the 25% Discount

If Ordering from Out of Town, Contact info@guttershed.com and Include this Offer ID Number: 20111231.

See Product Information at Guttershed.com.

These programs can be applied for online.

Hey friends,

I was doing some research about housing assistance today and I came across two government programs that offer assistance to YOU the homeowner during times of trouble.

Now, I’m not an advocate for being on government assistance when someone has the skills, ability and time to work, but if you’re working and just not making ends meet these programs are something you may want to consider. There’s nothing more frustrating and emotionally draining than playing by the rules and being stuck in one place spinning your wheels!

The first program is a joint venture between the US Treasury and Housing and Urban Development (HUD) called Making Home Affordable. There are numerous options in this program including getting help if you’re unemployed, exiting your home gracefully, lowering monthly mortgage payment or lowering monthly mortgage rates. They have eligibility calculators, telephone counselors and a whole host of resources and information. The website is www.makinghomeaffordable.gov.

The second program called Indiana Foreclosure Prevention Network is run at the state level and is a collaboration between community housing partners, government agencies, lenders, realtors, and trade organizations. It is based on income guidelines for homeowners who have experience a loss of income due to unemployment. Find it at 877gethope.com.

If you know of anyone who could use this information, please forward it on to them. Let’s all work towards stabilizing our homes together!

Brian

The online retirement website, Second Act, has release its Top 10 Places to Retire for 2011.

While I’m quite fond of #3, check out #8!

In their words:

Let’s face it: Today’s woeful economy may keep you from retiring in the style you imagined. Nest eggs are shrinking. Housing prices have plunged by a third in some markets, robbing homeowners of their equity. Baby boomers who once dreamed of cashing out and moving to Maui are scaling back their goals, concerned about how long their savings might last.

Fear not. There are still plenty of great places to retire where you don’t have to be rich to afford a home. SecondAct’s 2011 list of top retirement towns places a special emphasis on affordability. Whether you prefer an idyllic, throw-back town on a distant seashore or a forested hamlet in the mountains, you can find houses for under $300,000. The lower price tag will mean lower property taxes, too — a classic win-win.

We also considered attributes such as architectural charm, culture, recreation and public transportation. Climate matters. So do parks, bike trails and green sensibilities. Often, the best retirement towns also are college towns. Besides offering educational opportunities, college campuses are typically surrounded by walkable streets boasting coffeehouses, bistros, art galleries and bookstores.

Here, then, are SecondAct’s top 10 retirement towns of 2011: A sampling (go here for the whole article)

1. Georgetown, Texas

Antique street lamps, brick sidewalks and meticulously restored Victorian homes make this town on the Chisholm Trail a gem of the Old West. Century-old oaks shade a downtown alive with festivals, concerts and a thriving art scene. Georgetown is home to the Sarofim School of Fine Arts and also has its own symphony. The crime rate is one of the lowest in the nation. The Texas Hill Country offers hiking and horseback riding. In the Sun City retirement community, residents cruise in golf carts. Scenic neighborhoods are built around golf courses and the shores of Lake Georgetown, but home prices average $220,000, a fraction of housing costs in Los Angeles. Georgetown is 26 miles from the ultra-hip Austin, another top retirement mecca where houses list for $250,000. The larger, more crowded Austin is known for its cosmopolitan culture and cutting-edge tech industry surrounding the University of Texas.

3. Portland, Ore.

Trees, parks and eco-friendly policies make Portland, located at the juncture of the Willamette and Columbia rivers, one of the “greenest” cities in the world. Forest Park is a 5,000-acre wilderness zone, and the Tom McCall Waterfront Park stretches the entire length of downtown on the Willamette. Traveling around the city is easy via an accessible light-rail system and an extensive network of biking and hiking trails. For culture, residents enjoy a symphony, opera, ballet, theaters, museums and an up-tempo music scene. Portland also offers an array of college campuses — among them the University of Portland and Portland State University. The city’s youthful, hippie-ish vibe inspired the hit comedy TV series, Portlandia, which premiered this year on Independent Film Channel. “Certainly, there’s no shortage of things to write about based on Portland,” the show’s co-creator, Carrie Brownstein, tells a local TV station. Portland is known for its roses and public gardens, diverse cuisine, gourmet coffee and micro-brewed beer. Homes list for under $365,000; sales so far this year average $240,000, based on figures through May compiled by trulia.com.

Population: 584,000
Bonus feature: Powell’s City of Books, which touts itself as the largest bookstore west of the Mississippi.
Downside: Growth has brought terrible rush-hour traffic, and Portland averages 37 inches of rain a year.

And what you’ve all been waiting for…

8. Lafayette, Ind.

Straddling the banks of the Wabash River, the adjoining towns of Lafayette and West Lafayette represent Middle America as Norman Rockwell once painted it. The area was founded in the early 1700s as a fur-trapping outpost and is best known today as the home of Purdue University. Lafayette is popular for its century-old houses, first-rate schools and historic downtown. Miles of trails accommodate bikers, hikers and bird-watchers. A broad plaza where community events and festivals are held connects downtown with a pedestrian bridge crossing the Wabash; the site is a stopping point for Amtrak, Greyhound and the city bus system. Canoeing, camping and swimming are popular pastimes along the river. Homes typically list for $150,000, and sales prices so far this year average barely half of that.
Population: 96,000
Bonus feature: The city is just a two-hour drive from Chicago.
Downside: January temperatures average 17 degrees.
More info: Lafayette website and Home of Purdue

What are your favorite “bonus features” about Lafayette/West Lafayette? What would be the best part of retiring here?

Cheers,

Brian



Here’s a great article from the good folks at Keeping Current Matters on the perceived (and real!) benefits of homeownership. In a market that is slowly leaning towards renting instead of buying, we can see why some people will continue to want to own a home rather than rent for reasons other than investment purposes. Read a teaser below…

Homeownership: Still the American Dream

by THE KCM CREW on AUGUST 16, 2011

Yesterday, Fannie Mae released theirNational Housing Survey for the second quarter of 2011. They survey the American public on a multitude of questions concerning today’s housing market. Each quarter, we like to pull out some of the findings we deem most interesting. Here they are for the most recent report:

Most Important Reasons to Buy a Home

When we talk about homeownership today, it seems that the financial aspects always jump to the front of the discussion. However, the study shows that the four major reasons a person buys a home have nothing to do with money. The top four reasons, in order, are:

• It means having a good place to raise children and provide them with a good education
• You have a physical structure where you and your family feel safe
• It allows you to have more space for your family
• It gives you control of what you do with your living space (renovations and updates)                                    (more)

So what do you think? Do you find homeownership more desirable than renting in today’s economy? What do you think are the trade-offs?

Cheers,

Brian

What a great spot to be on the Tippecanoe River! Located on a hilltop above flood level so there is no fear of high water caused by spring rains, this home could be your weekend get-away or your permanent residence.  Let’s stay outdoors for a quick overview of entertainment possibilities.  There is a huge backyard to host your friends or family in a game of horseshoe and set up the volleyball net.  Take on your friends in a fishing contest with easy stair access to the pier on the river below.  Then, end a wonderful afternoon with a cookout or wiener roast over the open fire pit and enjoy the evening.

If guests sleep over, accommodate them in the loft area for privacy. There is ample room for sleeping quarters and a small sitting area.  On the first floor is the master bedroom/bath and large walk-in closet. A second bedroom is also on the first floor.

You can cozy up to the stone fireplace in the living room area and enjoy the view through the large picture window.  The kitchen and dining room area flow into the living room for spaciousness. A large utility room with cabinets and folding counter are off the hallway to the master bedroom area. 

There is a large 2 car garage with a carport area to house your vehicles and yard equipment.  To improve this great value, the oven/range, refrigerator, dishwasher, microwave and gas grill are all included in the sale.  Call to set up an appointment today

End a hard day at the office with a short drive to your 10 acres with close proximity to the Wabash River.  Plenty of room to roam, fenced back yard for privacy and beautiful sunrises and sunsets from your screened porch await your arrival. On the outskirts of Lafayette, this home allows for a secluded country atmosphere.

 Lovely foyer entry and vaulted ceilings really give this home a touch of elegance and sophistication.   Entering the foyer, you will immediately notice the beautiful large living room and gas log fireplace to relax with your family and friends.  In addition to the breakfast nook open to the kitchen, the dining room gives formality to dinner plans.

There is a first floor master bedroom suite for privacy from the other two bedrooms located on the second floor.   The master bath sports a corner garden tub and glass block windows over the tub and a separate double shower.

Large loft overlooking the living room has many possibilities—tv area for the kids, lounge, home office – name it.  Move-in ready condition and a blank slate for your décor gives you opportunity to add your touch to make it yours. 

A full basement is an extra bonus. Magnificent location for those who just can’t get enough of the great outdoors. 

Please contact Cathy’s office at 765-497-0700 or look at her website at www.cathyrussell.com for more information.