With FHA Mortgage rates at $5.37 per $1,000 of loan - How can you NOT afford to buy a home?

In March 2011, Valparaiso had 51 SOLD properties with an average List Price of $179,898 and Sold Price of $169,241. Does this surprize you? Average Days on Market is only 129.

Want a list of ALL the Real Estate Open Houses TODAY in Porter County or Lake County? Email me at lindazcentury21@gmail.com

Congratulations Valparaiso on your first Diversity Summit to raise awareness and successfully cultivate a positive vision for the future of Valparaiso. Mayor Jon Costas, Valparaiso University President Mark Heckler and others are dedicated to a creating a diversified community.

Now is a Great Time To Sell Your Home

Homeowners often wonder if there is a favorable time of the year to sell their home and my response is NO. The two most important factor in selling your home do not change whether the home is listed for sale in March or November.

The first factor would be the "average days on market" for you area. For example, let's say the average home for sale between $200k to $250k in Valparaiso takes 135 days to sell. If you list your home for sale on April 1st, chances are it will be sell by August 15th. Market time does vary depending on the number of homes for sale and buyers in an area.

Another important factor is the price. Your home should be priced at or lower than comparable homes which have recently sold. An overprice home will linger on the market and in the end sell for less than it should have.

So if you are ready to expand your living area, need to escape a cramped condo or relocate to be near the grandchildren; now is a great time to sell your home.

Feds Discuss Foreclosures

The Federal Government discusses the dumping of foreclosures

Don't Wait For The Market To Come Back

Top Five Reasons Why Not To Wait For The Market To Come Back:

1) Demand for existing homes are at it's peak
2) Less competition from new home sales
3) You can buy more home for your money
4) Tax incentives of $6,500/existing homeowners & $8,000/new buyers
5) Mortgage interest rates are low at around 5%

Since early 2006 home prices in Northwest Indiana have fallen an average of 30% from the market peak. What does this mean for home owners who have decided to "wait for the market to come back"? A long wait, a very long wait.

First remember at the peak of the market, home building was very active and new homes were going up everywhere. Buyers took note and the majority of buyers only wanted to view "newer homes" Existing home sales lagged behind new home sales 2-1 or even 3-1 in some areas.

The new home market is at a virtual standstill, with a limited new homes being built. That's good news as there is way less competition for the sale of your home.

Buyers see the value in purchasing an existing home. Buyers are pleased that they can buy a bigger home (more square footage) at a lower price than new construction. Buyers are also finding out that they are able to afford a home in areas that previously were not in there price range.

Additionally, tax incentives allow existing home owners to buy a new home and receive $6,500. You don't have to sell your existing home, you can rent it out - you just have to live in the new home.

Finally, remember that market prices have not even begun to rise. Even if prices rise at 6% per year - (at that's not happening) it could take 5 to 7 years for your home sale price to increase to the peak market price. Can you afford to wait that long? When and if the market swings back and the value of home prices begin to rise, so does the desire of buyers wanting new homes.

In conclusion, with the $6,500 tax credit for existing home owners or $8,000 tax credit for first time home buyers, PLUS the active existing home market creates the best time to purchase a new home. Finally, mortgage interest rates continue to be very low at around 5%.