Northwest Indiana Mortgage Planner offers Purchase - Refinance - FHA/VA - 203(k) - Reverse Mortgage

December Holiday NWI Tweetup (#nwitweetup)

Mon, 14 Dec 2009 16:09:46 -0600

What's a Tweetup? The Twitter Meetup Project: n. A real world meeting between two or more people who know each other through the online Twitter service.

Are you using Twitter or curious about learning more? Please join us for our monthly gathering where you will have a chance to meet the people behind the avatars.

Brian Kadar, the Program Director of Inman's Fun & Party Center, has offered to host this month's #nwitweetup as a festive and fun family night just for the holidays.

Never heard of Inman's Fun & Party Center?

Locally owned and operated since 1941, Inman's offers the finest in recreational activities, excellent food and drink, as well at the capability of hosting any size event. Inman's has something for everyone, whether it be bowling, billiards, bean bags, volleyball, arcades, go-karts, miniature golf, or even bumper boats.

Check this out. Calling all bowlers! Inman's is graciously offering FREE Bowling during our allotted time along with FREE Shoe Rental. How can you go wrong? Bring the family and friends and get your bowl-a-thon in high pin style as there will be plenty of to do, to eat and to drink.

Not into bowling. That's okay. Come watch Monday Night Football, knock a couple racks around in the billiard room and/or just token up with some arcade games. Whatever you choose to do, just come out and enjoy the holiday festivities.

Please join us for an evening of twittering fun! Let's put the "social" back into social networking.

Come join us tonight for the December Holiday NWI Tweetup (#nwitweetup)

Five Recent Blog Posts of Interest:

FEATURED Blog Posts on ActiveRain:

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

This Is The Week Ahead for December 13th

Mon, 14 Dec 2009 00:41:26 -0600

This week has plenty of economic reports in addition to the last meeting for the Federal Open Market Committee (FOMC). With no economic reports on Monday, all attention will be around the Dubai bailout and the new legislation awaiting President Obama's signature.

On Tuesday, all eyes will be on the November's Producer Price Index which measures inflationary pressure at the producer level. It's not a matter if there will be inflation but how much. Looking for 0.8% rise overall and 0.2% rise at the core (less food and energy prices). Also scheduled for release will be November's Industrial Production, Capacity Utilization and the Empire State Index.

Although the FOMC meeting begins on Tuesday, the meeting will not adjourn until Wednesday afternoon. Wednesday will be the big day of the week as November's Housing Starts, November's Building Permit and November's Consumer Price Index (CPI)will give both the real estate industry and Wall Street something to digest prior to the FED's decision on short-term interest rates. No one expects the FED to raise short-term rates. More importantly, it's not what they do but rather what they will say.

Thursday will be a day that Wall Street will get a glimpse of what to expect in the next 3-6 months with the release of November's Index of Leading Economic Indicators (LEI). It is highly anticipated that forecasts are for greater economic activity and growth.

There are no economic reports for Friday so keep an ear open for any geo-political headlines that could disrupt the markets as traders protect themselves for the weekend.

Home loan shoppers and retirement funds will continue their battle for investment dollars from abroad and here in the US. As-is the par for the course, good economic news will favor the stock market and take money away from mortgage bonds which will result in higher mortgage rates. Conversely, bad economic news will drive investors into the safety of bonds which will help home buyers with lower mortgage rates.

Want to see what other economic reports might impact home buyers in the coming week? Stop by and check out the Financial Market Update Provided to You Exclusively by The Barath Group.

This Is The Week Ahead for December 13th.

Five Recent Blog Posts of Interest:

FEATURED Blog Posts on ActiveRain:

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

Weekly Blog Update for the Week Ending December 12th

Sat, 12 Dec 2009 11:59:19 -0600

Thank you for reading my ActiveRain blog where I share my personal insight as a mortgage planner.

Did you know that I also write an outside blog dedicated to Northwest Indiana mortgages and real estate?

This is a summary of my newest blog entries from the past week from WelcomeHomeNWI.com.

Publish Date: December 11, 2009
Retail Sales and Home Affordability a Volatile Cocktail
Excerpt: If you wonder what mortgage rates and home affordability will look like next year, today's Retail Sales data may hold your answer. Versus October, November's ex-auto sales were up by more than 1 percent....

Publish Date: December 10, 2009
Foreclosure Activity Falls For The 4th Straight Month
Excerpt: Since peaking in July 2009, national foreclosure activity has dropped through 4 consecutive months. On a month-to-month basis, November's foreclosure activity fell another 8 percent. However, national foreclosure activity continues to...

Publish Date: December 09, 2009
Save Money and the Environment - Lower Your Utility Bills
Excerpt: The average family spends $2,200 per year in electric bills and the average home is responsible for twice the amount of greenhouse gases than the average automobile. Whether you want to...

Publish Date: December 08, 2009
How to Maximize 2009 Mortgage Interest Deduction
Excerpt: For many American homeowners, interest paid on a mortgage is tax-deductible in the year in which it was paid. Knowing that, eligible homeowners can increase their 2009 tax deductions just by making their...

Publish Date: December 07, 2009
What's Ahead for Mortgage Rates This Week: December 7th
Excerpt: Mortgage markets finally reversed course last week, selling off with fury and causing prices to plummet. When bonds prices fall, rates rise. The action broke a multi-week winning streak, much to...

Weekly Blog Update for the Week Ending December 12th.

Five Recent Blog Posts of Interest:

FEATURED Blog Posts on ActiveRain:

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

Today's Real Estate Reality is Just What You Need

Wed, 09 Dec 2009 18:38:34 -0600

Calling all Realtors in Northwest Indiana. You are cordially invited to attend this month's Realtor Mastermind - Today's Real Estate Reality.

If you have not had the chance to attend our previous Realtor Masterminds, take 30 seconds to preview the information that has been provided in the past to position Realtors as experts in their marketplace.

Seating is Limited. Complimentary coffee and breakfast treats will be provided.

The information that we offer is the Real Data presented with a Real Message so that you can present Exactly What the Clients Want - the TRUTH - in order to get sellers to sell and buyers to purchase. If this is important to you, then attendance to the Realtor Mastermind is a must.

Today's Real Estate Reality is Just What You Need!

Five Recent Blog Posts of Interest:

FEATURED Blog Posts on ActiveRain:

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

Are You The Reason Your Home Won't Sell? Sunk Cost Fallacy

Tue, 08 Dec 2009 22:48:37 -0600

Yesterday, I had the opportunity to provide a free mortgage consultation to a family in Northwest Indiana who had their home listed for sale. Many things were discussed as-is par for the mortgage planning process and it was refreshing to see a home buyer take the preliminary steps to see if they were actually qualified to buy the next home.

The focus of the mortgage consultation became awkward as the facts revealed that they needed to sell their existing home because they had to scale down due to financial hardship. Here was the real issue. The home had been on the market for well over 9 months and this family was fixated on getting a certain amount of money from the sale based on what they had invested into their home over the past 12 years.

In my analytical nature, I tried to explain to them why they needed to sell sooner as opposed to later. I highlighted the pros and cons of buying and selling in today's real estate market; illustrated the law of diminishing returns; examined the principle of carrying costs; and also expressed the potential credit nightmare ahead.

Guess what? This family just did not get it.

Later in the day following the consultation I stumbled upon an article on Bankrate.com titled "Are you the reason your home won't sell" by Marilyn Kennedy Melia. It had the answer to my clients reluctance.

In the article, Marilyn introduced a concept called Sunk Cost Fallacy which is at the heart of what behavioral finance experts declare is the irrational behavior that makes home owners hold onto a home when they know they really need to sell. Often times it results in a greater loss than is necessary.

It is hard to believe that this type of behavior is just limited to homeowners in Northwest Indiana.

Are You The Reason Your Home Won't Sell? Sunk Cost Fallacy.

Five Recent Blog Posts of Interest:

FEATURED Blog Posts on ActiveRain:

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

This Is The Week Ahead for December 6th

Sun, 06 Dec 2009 22:40:18 -0600

Before we discuss this coming week, let's reflect on last weeks big news. According to Friday's release of the November Employment report that jobs are making a comeback. There is still some apprehension as many want to see if this is just to to the seasonal holiday employment or if the jobs are long-term in nature.

Mortgage rates suffered a set back every day last week and home shoppers should be aware that mortgage rates rose by 0.250% - 0.375% on average by the end of the week. Will it continue this week?

This week has little news compared to the past several weeks and that should give everyone a breather. With that being said what could move markets this week.

Although Ben Bernanke will be speaking in front of the Economic Club of Washington D.C. on Monday, it is more of an informal speech and should not impact markets unless he goes out of his way to rattle investor's eardrums.

During the middle of the week, the bond market will be on it's toes as the Treasury will auction off a total of $74 Billion of new securities. 3-year notes are to be auctioned on Tuesday. 10-year notes are to be auctioned on Wednesday and the 30-year bond will wrap up the auctions on Thursday. All eyes will be on the cover-to-bid ratio and the percentage of foreign participation.

The week will end on another bang as investors worldwide will be laser focused on the details of the release of the November Retail Sales report. Since consumer spending lubricates nearly two-thirds of the U.S. economy, the monthly increase will be especially important. It is anticipated that there will be 0.7% increase from October's numbers. Anything short would be a blow to the chants of the recession being over.

Want to see what other economic reports might impact home buyers in the coming week? Stop by and check out the Financial Market Update Provided to You Exclusively by The Barath Group.

This Is The Week Ahead for December 6th.

Five Recent Blog Posts of Interest:

FEATURED Blog Posts on ActiveRain:

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

Don’t Buy Stuff You Can’t Afford

Sat, 05 Dec 2009 13:24:34 -0600

This time of year just screams family, good eats and gifts. It is also the time of the year that many will inevitable go over budget and indulge their vices. In my ten years as mortgage planner in Northwest Indiana, I know that many homeowners will be calling shortly after the New Year to discuss how to consolidate their debt from all the holiday festivities.

Homeowners may be in for a rude surprise in 2010 as Fannie Mae, Freddie Mac and the ever popular Federal Housing Administration will be clamping down on cash out home loans. This is not speculation but the reality. Even local and regional banks are becoming more restrictive on home equity loans.

With that being said, here is video clip that is worth watching. Sit back and enjoy this Saturday Night Live (SNL) skit titled Don’t Buy Stuff.

Laugh if you will, just remember Don’t Buy Stuff You Can’t Afford.

Five Recent Blog Posts of Interest:

FEATURED Blog Posts on ActiveRain:

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

How to Climb Mount Google for Free in 5 Minutes

Fri, 04 Dec 2009 18:58:51 -0600

To all the real estate professionals who commented on my last featured post about the association between ActiveRain and Google rank, I am going to share with you a quick video tip to help you on your way. So check out this brief clip and satisfy your need for Google Juice baby!

Now you know the secrets on How to Climb Mount Google for Free in 5 Minutes.

Five Recent Blog Posts of Interest:

FEATURED Blog Posts on ActiveRain:

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

If You Don't Know Sara Bonert, You Should.

Thu, 03 Dec 2009 18:57:55 -0600

Yesterday, I received a surprise package from Sara Bonert of Zillow. Before I tell you want she sent me, let me tell you how I originally met Sara.

Back in the latter part of June this past summer, I had the pleasure of attending Real Estate BarCamp Chicago held at the corporate headquarters of the National Association of Realtors. As it was my first one, didn't really know what to expect. I initially went by way of an invitation to attend a mastermind group of mortgage professionals from all over the country.

During the course of the event, I was updating the highlights of the event via Twitter. As par for the course when you have a lot of folks bantering on the same hashtag, it is easy to see who to interact with at the event.

Towards the end of the day, Sara made a comment on one of my posts but I did not know who or what she looked like. I can't remember the specific comment, but what she said made me want to instantly follow her.

Since that fateful day, I have bantered with her here on ActiveRain, as well as on Twitter and even on Zillow.

So what did I do to receive this surprise package?

While Sara was attending the NAR Convention in San Diego in November, she was announcing prizes and awards for those who would stop by her Zillow booth. One of those free gifts was to be a t-shirt for the next 20 individuals who came to her booth. I did not have the good fortune to be there in San Diego so I politely asked her if I could pick up one when she passed through Chicago again.

Voila! Not only did Sara send me a free t-shirt, but she also sent the other freebies that she handed out at NAR09. By the way, my son loves the little Zillow key chain light.

Don't get me wrong. I did not write this post just because she sent me a free gift. I wrote this post as a thank you to Sara for being so giving of her time, her expertise and thoughtfulness as a fellow real estate professional.

If You Don't Know Sara Bonert, You Should.

Five Recent Blog Posts of Interest:

FEATURED Blog Posts on ActiveRain:

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

Realtors® Please Stop with the New Listings!

Tue, 01 Dec 2009 18:13:39 -0600

It has occurred to me recently that a vast number of Realtors® love to post their listings here on ActiveRain. This is clearly evident when looking at the ActiveRain Blog Dashboard. Sometimes listings will fill the entire time line.

What is even more disturbing is the fact that I have see many agents mark their blog posts as Members Only.

This begs me to ask the question to all those Realtors® that only post their new listings as to WHY? Please don't get offended, but could you create a blog that is more than just a republication of your new listing.

I have read and commented on over 600 blog posts. I know that is not much and that it is just a tiny number compared to the Ambassadors and power users, but my gut dictates that sometimes the agents just do it for the points.

I personally enjoy learning more about you as an individual and the listings just DON'T do it for me. Furthermore, based on my limited experience on ActiveRain much of the interaction here is peer-to-peer and not business-to-consumer.

So here is my holiday request. Realtors® Please Stop with the New Listings!

Five Recent Blog Posts of Interest:

FEATURED Blog Posts on ActiveRain:

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

Forget Black Friday Now It's Time for Cyber Monday

Sun, 29 Nov 2009 23:22:35 -0600

Did you miss your chance at a deal of a lifetime over the weekend? Maybe not.

Just as Black Friday is the most anticipated retail shopping day of the year, a relatively new trend has occurred since 2005 that is just as important for online retailers.

Cyber Monday is the first Monday following Black Friday and is considered to be the busiest day for electronic commerce. What use to be limited to strictly online retailers, has grown to include 9 out of every 10 retailers according to the National Retail Federation (NFR).

With that being said, here are some instrumental online resources to best get you through the online maze of deals and coupons for Cyber Monday:

CyberMonday.com(run by the NRF)
Offers.com(Aggregates Coupons)
PromotionalCodes.com(Aggregates Coupons)
CouponWinner.com(Aggregates Coupons)

Let the savings begin! Forget Black Friday Now It's Time for Cyber Monday.

Five Recent Blog Posts of Interest:

FEATURED Blog Posts on ActiveRain:

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

This Is The Week Ahead for November 29th

Sun, 29 Nov 2009 22:50:42 -0600

Thanksgiving holiday weekend is coming to an end and now it is time to get back to work. Even though Cyber Monday will be a major distraction as workers try to capture deals they missed out on Black Friday, many in the financial markets will be keeping an eye out on this week's economic reports.

The first major report will be the Institute for Supply Management (ISM) Index on Tuesday morning. This index provides manufacturer sentiment on how the economy will perform.

On Wednesday, the Fed Beige Book will be released. There should be no surprises on it's release at 2:00 PM, EST.

The revised 3rd Quarter Productivity will be released Thursday morning. It is expected to be revised downward which will have the inflation bears up at arms and will negatively impact mortgage rates as well.

The most beloved day of the week will also bring us the most important economic report. The November's Employmentreport will be released at 8:30 AM, EST on Friday. This could be a very momentous day for home loan shoppers as it is anticipated for payrolls to be only down 114,000 and the unemployment rate to hold steady at 10.2%.

Want to see what other economic reports might impact home buyers in the coming week? Stop by and check out the Financial Market Update Provided to You Exclusively by The Barath Group.

This Is The Week Ahead for November 29th.

Five Recent Blog Posts of Interest:

FEATURED Blog Posts on ActiveRain:

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

What Black Friday and Real Estate Have In Common

Sun, 29 Nov 2009 22:17:15 -0600

Although I am not a fan of waking up in the early hours of the morning, I do have a wife and son who look forward to the shopping bonanza that was to have taken place. Even though there were some new block buster deals, the majority of what was offered was nothing more than the best deals that are routinely offered throughout the year.

For instance, Staples offered leather backed office chairs that are normally priced at $99 for only $39 as an early morning door buster. What many did not realize is that this was an offer that had been made earlier in the summer of which I took the opportunity and purchased 4 chairs.

Other chances to buy came and went in a brief instance as my wife learned while shopping for Leap Frog games for the V*Motion system. In the confusion and uproar of all the buying frenzy, she did not realize the 50% discount that was offered on certain games of which my son has asked Santa.

So what does all this have to do with real estate?

It became evident that the mindset of home buyers in this real estate market is similar to those holiday shoppers on Black Friday.

Every one is looking for an out of this world bargain.
There are great deals all the time; unfortunately, some are not aware of the deals as such.
Home buyers often become confused by the media and consequently they don't recognize a good deal when it is presented.

Black Friday has come and gone. It's true success will not be known for many weeks to come. As for the real estate market, it's outcome may not be known for several years to come. Nonetheless, I love this business and guess what I picked up?

This year I learned What Black Friday and Real Estate Have In Common.

Five Recent Blog Posts of Interest:

FEATURED Blog Posts on ActiveRain:

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

Are You Prepared to Help Waterfront Homeowners?

Tue, 24 Nov 2009 18:00:19 -0600

Just when I was coming to peace with the Existing-Homes Sales report, another headline thumped me right on my head. It wasn't the downward revision to GDP nor the marginal tick up in the Consumer Confidence Index as reported today.

Something else caught my attention that could pull the rug right out from our pseudo housing recovery. Do you want to know what it is?

23% of all Borrowers Underwater, Says First American CoreLogic as reported by HousingWire.com.

Here are some of the more interesting facts in the press release:

23% equals 10.7 million homes with negative equity
Additional 2.3 million homes within 5% negative equity
Rise in negative equity closely tied to pre-foreclosure activity
Characteristics of home owners under water:
1. Purchased home between 2005 - 2008
2. Purchased primarily new construction
3. Relied on Adjustable Rate Mortgages
4. $70,000 average negative equity position

For those who have read some of my prior posts questioning the validity of the housing reports issued by the National Association of Realtors® (NAR), I consider the information provided by First American CoreLogic to be more accurate and pertinent to the real estate industry.

Unlike NAR, First American CoreLogic utilizes a data set of 47 million homes which accounts for over 90% of all homes with mortgages. First American CoreLogic also factors in both the 1st mortgage lien and junior mortgage liens when calculating their numbers.

Listen closely Realtors®! This is the kind of information that lenders love and also gives credence for them to be even more critical of home valuations on your purchase deals. If you would like a copy of the full report directly from First American CoreLogic, just ask me and I will be happy to share.

Are You Prepared to Help Waterfront Homeowners?

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

Real Estate Is Cyclical So Let's Embrace It

Mon, 23 Nov 2009 17:26:49 -0600

With the announcement of "Existing-Home Sales Record Another Big Gain, Inventories Continue to Shrink" today, many have already jumped on the band wagon as to an extended and upward home purchase season.

There may be some truth to this with the extension and expansion of the tax credit along with the government subsidized, ultra-low fixed mortgages. It's not whether it can continue, but for how long.

Life is all about ups and downs. This chart provided by Bill McBride of Calculated Risk definitely illustrates the natural ebb and flow of the real estate industry based on Existing-Home Sales. Will the current surge continue at it's current pace? Most likely not.

That is okay. Real Estate Is Cyclical So Let's Embrace It.

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

Existing-Home Sales Up, But Not All It's Cracked Up To Be!

Mon, 23 Nov 2009 17:00:44 -0600

Did you hear? Existing-Home Sales Jump To Highest Level in 2-1/2 Years as reported early this morning. According to the official release from the National Association of Realtors® (NAR) existing-homes sales surged a surprising 10.1% in October.

The only thing surprising about this number is the fact that many in the real estate industry had not expected or anticipated such an increase. What's even more surprising is that with the new peak in existing-home sales report that forecasts are being revised for the recovery of the housing market effective today.

Let's rewind and figure out what today's report really means and how the real estate industry got to this point.

To begin with, according to the NAR Existing-Home Sales Methodology the NAR capture 30-40% of all existing-home sale transactions with its monthly survey. Before they can become an existing sale, a contract would have had to been written which generally involves the services of a Realtor®.

This would have been measured by the Pending Home Sales Index (PHSI). The interesting thing about this index is that it attempts to predict future sales. According to NAR the PHSI only accounts for 20 percrnt of all transactions of which 80% close within 60 days while the remainder close within 4 months.

Do you remember what the headlines were a couple of months ago? Let me give you a hint. It had to do with the steady growth in the Pending Home Sales Index. This latest report will definitely create even more confusion to home sellers and buyers throughout the country.

For all the positive spin the media is broadcasting across the news wire, there are some startling facts hidden within the report. Did you also hear that the national median home price dropped 7.1% and that 30% of all sales in October were distressed sales. Try explaining that to sellers.

Existing-Home Sales Up, But Not All It's Cracked Up To Be!

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

This Is The Week Ahead for November 22nd

Sun, 22 Nov 2009 22:25:22 -0600

The holiday feeling is stirring in the air and in shopping centers everywhere. Due to another holiday shortened week, there will be plenty of economic reports and news events that will keep home shoppers on the edge of their seat.

Monday will start with October's Existing Home Sales and expectations are for signs of more improvement as this will reflect all the completed purchases that went under contract back in June and July.

All eyes on Tuesday will be on the revision to 3rd Quarter Gross Domestic Product (GDP). Initially reported at a blistering 3.5% growth rate, it is expected that GDP growth will be revised downward to 3.0%. This will be important as it calms the fear of hyper-inflation jumping back into the economy. Also on Tuesday will be the release of November's Consumer Confidence Index (CCI), which provides insight on consumers willingness to spend.

Wednesday will be an all out media frenzy with 7 economic reports on tap. The most important of these will be October's Durable Goods Orders, October's Personal Income and Outlays, November's University of Michigan Consumer Sentiment, and October's New Home Sales.

Let's not forget about the massive amount of new treasury notes to be auctioned this week. There will be a record $44 Billion of 2-Year Notes on Monday, $42 Billion of 5-Yearson Tuesday and $32 Billion of 7-Years on Wednesday.

Although the stock markets will be open on Friday, the markets will close early and light volume will be expected due to many traders who will take an extended 4-day retreat to celebrate the Thanksgiving holiday.

Want to see what other economic reports might impact home buyers in the coming week? Stop by and check out the Financial Market Update Provided to You Exclusively by The Barath Group.

This Is The Week Ahead for November 22nd.

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

Save the Economy, Shop on Black Friday

Sat, 21 Nov 2009 22:41:52 -0600

Friday is the most celebrated day of the week. There is so much love and affection towards this day that people often give reverence in the form of Thank God It's Friday.

Even folks on micro-blogging sites such as Twitter have proclaimed the day as Follow Friday with hash tags of #ff and/or #followfriday.

There is no surprise that so much fan fare is given to celebrate the end of something as opposed to the beginning. This does mirror the sentiment that all real estate professionals anticipate and cheer when it comes to a successful purchase transaction.

In regards to the most celebrated Friday, there is none more important than Black Friday as this is the day that many retailers will finally cross the threshold of operating in the red and generating a profit. This year will be even more significant for retailers as the economy has created larger operating losses than normal.

For many consumers, Black Friday also starts the official holiday shopping season with unbelievable deals that come only once a year.

In the spirit of sharing, I wanted to share an online resource that will make planning for the all day marathon of savings a little easier. Not only will you find in-store coupons, but you will also have access to a plethora of online discounts as well. Check out the savings at Black Friday Ads for Black Friday 2009 and Black Friday Deals.

Let's all do our Patriotic duty. Save the Economy, Shop on Black Friday.

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

Both Santa and The Scrooge Showed Up In My Tax Bill

Fri, 20 Nov 2009 22:38:39 -0600

As a Certified Mortgage Planner in Northwest Indiana, I have had numerous calls over the past several months in regards to property tax bills. The main reason for the calls are due to a reassessment process that has created delays since 2005.

Our normal cycle for property tax bills in the state of Indiana is for the 1st installment to be due in May and the 2nd installment to be due in November. Both installments are exactly half of the bill.

Our state property taxes are a little unusual in regards to the fact that they are always paid in arrears. For example, the 2007 property taxes owed were not paid until the calendar year 2008.

This year there was even a longer delay due to new state legislation that had been passed and new calculations on reassessed townships. Instead of our normal split bills, residents of Porter County Indiana began to receive our one and only property tax bill for the entire year earlier this month. I personally received my property tax bill this past Tuesday.

There was good news and bad news. The good news is that many like myself will see their property tax bills go down due to property tax caps that went effective this year. The bad news is that the entire amount owed is due by Friday, December 4th.

Happy Holidays! Both Santa and The Scrooge Showed Up In My Tax Bill.

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

Game On REALTORS® - Virtual RE BarCamp Has Arrived

Mon, 16 Nov 2009 23:27:14 -0600

In case you didn't hear, Virtual Real Estate BarCamp will be held online on Tuesday, November 17th. The original goal was to get 1,000 registered attendees and at the time of this blog post, there are more than 1,500 registered. For all those of you who have not had the chance to attend an RE BarCamp in person, now is the time to get in on the buzz.

Not sure what the buzz is all about?

As described by Todd Carpenter, the Social Media Director of the National Association of REALTORS®:

"The most interesting thing about a BarCamp is that it is user/attendant created: the program is developed by the attendees at the event, using big whiteboards upon which a schedule is hastily put together, that can be rewritten or overwritten by attendees to optimize the days' events. The goal of BarCamp is to reach out to new people who will increase the common intelligence about new technologies, and to create opportunities for cross-fertilization between people and new ideas."

As an attendee of the events in Chicago and Indianapolis, I have had the good fortune to experience the phenomena that has become known as RE BarCamp. This led me to introduce this craze to my local association of RELATORS® here in Northwest Indiana.

Through a collective synergy with the Greater Northwest Indiana Association of REALTORS® (GNIAR), Benchmark Mortgageis proud to sponsor our local In-Office live event to coincide with the Virtual RE BarCamp webinars. Furthermore, I personally will be hosting the event with our very own Nichole Odijk, GNIAR Director of Communications. If you're on Facebook, visit our event page for details.

Game On REALTORS® - Virtual RE BarCamp Has Arrived.

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

This Is The Week Ahead for November 15th

Sun, 15 Nov 2009 21:54:43 -0600

Veterans Day has come and past and now everyone is looking towards the holiday shopping season as a leading indicator on the health of the economy.

The first report of the week will be October's Retail Sales due to be released early Monday morning. This is an extremely important report as it tells the story of consumer spending, which makes up two-thirds of the US economy.

On Tuesday, the key reports shift away from the consumer and to the health of producers and manufactures. The first report will be October's Producer Price Index (PPI) and gives a sneek peek into inflationary pressure at the producer level. The second report will be October's Industrial Production as it will provide the strength in the manufacturing sector.

Wednesday will be a significant day of economic reports that will include October's Consumer Price Index (CPI), which measures inflationary pressure on the consumer and really tells the story of consumer buying power. Also to be reported that day will be October's Building Permits, October's Housing Starts and Crude Inventories. Anticipate a lot of media coverage on the housing recovery as focus will be on Housing Starts.

Thursday will be especially important to bond traders as the Treasury Department will announce the dollar volume of 2-year, 5-year and 7-year Notes to be auctioned the following week.

Want to see what other economic reports might impact home buyers in the coming week? Stop by and check out the Financial Market Update Provided to You Exclusively by The Barath Group.

This Is The Week Ahead for November 15th.

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

May God Bless OUR Military, OUR Troops and OUR Country

Wed, 11 Nov 2009 13:48:24 -0600

Today is Veterans Day. We want to thank every soldier as our freedom is a direct result of men and women that fight for our country. Without them we would not have freedom. We definitely would not be facilitating home loans and most certainly would not have the life style we all enjoy.

Benchmark Mortgage: The Barath Group takes this day very serious and truly want to thank each of you that have served our country and pray for the safety of those that are serving our country today.

May God Bless OUR Military, OUR Troops and OUR Country.

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

This Is The Week Ahead for November 8th

Sun, 08 Nov 2009 22:58:55 -0600

This week is light on the economic reports but another record amount of treasury auctions will definitely keep the holiday-shortened week exciting.

This week will include $40 billion in 3-years, $25 billion in 10-years and $16 billion in 30-years. It will be extremely important to keep an eye on how the treasury auctions are received especially by foreign investors on the longer term maturities as it will impact mortgage rates.

With Veterans Day being celebrated on Wednesday, much of the reaction in mortgage bonds and to home loan shoppers will be impacted by headlines of the stock market and recent passage of legislation from Congress.

Be advised that trading volume during holiday-shortened weeks generally are low which means greater volatility for stocks, bonds and mortgage rates.

Want to see what other economic reports might impact home buyers in the coming week? Stop by and check out the Financial Market Update Provided to You Exclusively by The Barath Group.

This Is The Week Ahead for November 8th.

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

Womanless Beauty Pageant...You Won't Regret It

Fri, 06 Nov 2009 18:49:42 -0600

It's that time again for the annual Duneland YMCA Womanless Beauty Pageant! You heard that right, the Womanless Beauty Pageant! Although there will be plenty of laughs to go around, this is a serious fundraiser to raise the necessary funds to support the YMCA Strong Kids Campaign.

With a population a little more than 10,000 people, this event is one of the biggest fundraisers for our community YMCA. It also happens to be one of the most theatrical fundraisers that includes local business men competing in evening gowns and swim wear for the titles of Miss-ter Congeniality and Miss-ter YMCA.

Every year this event seems to grow bigger and more lavish. Besides the competition, there is a silent auction that is part of the gala to raise funds. The unique part of the auction is that the men who participate in the contest are responsible for gathering the charity auction items.

Last year, the event raised nearly $27,000 for the YMCA. It truly is amazing what can be achieved when humility is left at the door. Come join us on Saturday, November 6th, for the Duneland Family YMCA Womanless Beauty Pageant...You Won't Regret It!

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.

This Is The Week Ahead for November 1st

Sun, 01 Nov 2009 22:30:52 -0600

The week ahead has several economic reports that could provide direction for mortgage rates for several weeks to come. In addition to the monthly economic reports scheduled to be released this week, the Federal Open Market Committee will also be meeting.

The Institute for Supply Management (ISM) will post their manufacturing index on late Monday morning. This index is important as it provides a gauge on manufacturing strength.

The second report of the week will come on Tuesday when September Factory Orders will be released. The outcome of the news is not as significant as the ISM Index.

Although the FOMC will begin their meeting on Tuesday, it will not adjourn until Wednesday afternoon at 2:15 PM, EST. The key will be the exact verbiage of their statement. So keep your eyes and ears open on Wednesday afternoon.

The fourth report of the week will come on Thursday, with the reading of 3rd Quarter Productivity. This report is the least significant for the week and will have moderate impact on the markets.

The final and most impacting report for the entire month will come on Friday as many expect the Employment Report to show a rise in unemployment to 9.9% with a loss of of roughly 175,000 jobs.

Home loan shoppers and retirement funds will continue their battle for investment dollars from abroad and here in the US. As-is the par for the course, good economic news will favor the stock market and take money away from mortgage bonds which will result in higher mortgage rates. Conversely, bad economic news will drive investors into the safety of bonds which will help home buyers with lower mortgage rates.

Want to see what other economic reports might impact home buyers in the coming week? Stop by and check out the Financial Market Update Provided to You Exclusively by The Barath Group.

This Is The Week Ahead for November 1st.

Like what you see? Fantastic! I welcome your connection at any of these online communities.

Looking for more specific real estate and mortgage advice for Northwest Indiana and/or the greater Chicago land area please visit my Welcome Home NWI website at www.WelcomeHomeNWI.com.

Need more expert advice? Ask the team of Certified Mortgage Planners at Benchmark Mortgage.