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home buying: FHA Home Buyers Have Extra Incentive to Buy Now - 02/16/11 08:34 AM
Qualified buyers should act fast to purchase their favorite home. The FHA is making an upward adjustment to the Mortgage Insurance Premium percentage monthly fee. Currently MI is at .90%. However on April 18th, 2011, MI is rising to 1.15%.  This means that for a loan amount of $200,000, where the monthly MI charge is $150 per month, the new monthly charge will be $191.67 per month, or $41.67 more. 
This increase also acts to decrease the purchasers buying power as they will qualify for less loan because of the additional monthly expense load.  In order to cover the $41.67 per month, the buyer's loan … (0 comments)

home buying: Valparaiso and Porter County Single Family Home Market Report for July 2010 - 08/12/10 10:29 AM
The July reports from the Greater Northwest Indiana Association of REALTORs (GNIAR) MLS are in and mixed results are evident. The end of the homebuyer tax credit seems to have had a negative effect on median home sales that had before seen extremely high volume of sales.  Good news is seen in months supply of inventory above median categories of $200K-$500K, where sales decreased inventories.  Homes under $100K still remain the hottest with only 4.4 months-supply.  
Luxury home sales continue to struggle in the region, where high supply and low demand has kept inventories at high levels. With historically low interest rates, and an improving consumer … (0 comments)

home buying: Valparaiso, Indiana Home Market Nearly "Balanced" Under $200,000 - 07/06/10 07:06 PM
The market for homes in the Northwest Indiana town of Valparaiso is showing signs of balance at some prices.  Based on the single family stats thru June 2010 on the GNIAR MLS, and based on inventory as of July 6, the months supply of inventory under $100,000 is just 4.4 months, and from $100,000 to $200,000 the range in months supply falls between 7.0 and 7.6 months.  A truly balanced market, where supply and demand is most equal is 6 months supply of inventory. 
For the year long period ending June 30, 2010, single family house sales in Valpo were at 844 units … (0 comments)