Tips for Selling a Home in the Winter

Traditionally, the time from Thanksgiving to New Year’s Day can be some of the slowest time of the year for home buying due to the holidays and the often less-than-perfect weather. But that doesn’t mean sellers can’t sell during the winter months. In fact, with decreased inventories, sellers may have a better chance to standout and face a buyer pool with more urgency to settle down.

Experts offer some of the following tips for selling a home in the winter:

Stage it: Stagers can arrange furniture so that selling-points in a home don’t get overlooked, paint rooms inviting colors, and have the know-how to give a home a cozy winter feel. Display photos of the home that also show it in warmer summer months. And don’t forget to turn up the thermostat in the home so buyers are comfortable from the moment they step through the door.”If you have a vacant house in winter with the heat turned down to 50, chances are someone will make a very low offer,” Loren Keim, a real estate broker, told the Associated Press.

Price it right: “If it’s priced properly, it will sell any day of the year,” Katie Severance, a broker for RE/MAX in Upper Montclair, N.J., told the Associated Press.

Show the way: Keep sidewalks and driveways clear of snow, ice, and leaves–giving potential buyers a clear path to your listing’s front door.

Light it up: There’s less daylight in the winter months so it’s even more important to keep all the lights on as well as open blinds and drapes for natural light. Keep the home well-lit even when you’re not there so the home still looks inviting to passersby who drive by in the evenings after work.

Source: “Selling Your Home? Some Tips for the Off-season,” The Associated Press (11/09/11)

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Foreclosures on the Rise Again

he number of foreclosures climbed in October, as mortgage lenders started to work through the paperwork problems that had delayed new filings for much of the last year.

Foreclosure filings were reported on 230,678 properties nationwide in October, a 7% increase from September, reported RealtyTrac, an online marketplace for foreclosed properties. Despite the increase, filings were still 31% below year-earlier levels, though.

RealtyTrac said one in every 563 U.S. homes had either a default notice, a scheduled auction or a bank repossession filing during the month.

“The October foreclosure numbers continue to show strong signs that foreclosure activity is coming out of the rain delay we’ve been in for the past year as lenders corrected foreclosure paperwork and processing problems,” said James Saccacio, RealtyTrac’s CEO.

Source:  CNN Money “Real Estate Foreclosures Up In November” November 10, 2011

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INTEGRA Real Estate of Michiana Featured Home of the Week

INTEGRA Real Estate of Michiana (574) 855-4575

MLS #: 252580

19822 ADAMS RD

$119,900

City: SOUTH BEND Zip Code: 46637
Area: CLAY Township: SPOR
Style: 1 Story Bedrooms: 2
Full Baths: 1 Half Baths: 0
Dining Room: SqFt: 976
Basement Type: Finished Garage: 2 Car, Attached
Appliances Included: No Appliances Included Heating: Gas
Cooling: Central Air Water Heater: Gas
Water Softener: None Water Sewer: Well, Septic Tank
Exterior: Stone
Flooring:
Lot Size Front: 130
Lot Depth: 230
Annual Taxes:: 677
Year Built: 1945
Interior/Exterior:
Remarks: WELL CARED FOR 2 BEDROOM, 1 BATH HOME ON OVER A HALF ACRE. FULL BASEMENT WITH FINISHED ROOMS. FENCED IN BACKYARD WITH IN-GROUND POOL. AS-IS CONDITION…OWNER IS RELATED TO LA. SEE CONFIDENTIAL REMARKS**

For more information, please call 574-855-4575 or visit www.integramichiana.com

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Foreclosure Activity hit 7-month high in October

Some 77,733 properties received an initial default notice last month, up 10% from September, foreclosure listing firm RealtyTrac Inc. said Thursday.

The number of homes scheduled to be auctioned or repossessed by lenders also posted monthly increases.

All told, notices of default, scheduled auctions and bank repossessions — warnings that can eventually lead to a home being lost to foreclosure — hit a seven-month high in October.

The numbers are further evidence foreclosure activity is picking up.

The activity slowed a year ago after problems surfaced with the way many lenders were handling foreclosure documentation, namely shoddy mortgage paperwork comprising several shortcuts known collectively as robo-signing. Many of the nation’s largest banks reacted by temporarily ceasing all foreclosures, re-filing previously filed foreclosure cases and revisiting pending cases to prevent errors

Source:  USA Today “Foreclosure activity hit 7-month high in October” November 10, 2011

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Rate on 30 Year Mortgage Below 4%

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Second Highest Home Ownership on Record

The homeownership rate is at its second-highest level on record, only behind the record high set in 2000, according to the U.S. Census Bureau, which began collecting home ownership data in 1890.

By region, the homeownership rate is:

  • Midwest: 69.2 percent
  • South: 66.7
  • Northeast: 62.2
  • West: 60.5

Nearly every metro area had more home owners than renters in 2010. The metro areas with the highest homeownership rates were in Michigan and Florida. Monroe, Mich., had the highest percentage of owner-occupied units at 79.8 percent, followed by Punta Gorda, Fla., at 79.7 percent.

While the national homeownership rate remained high, the decrease in the rate from 2000 to 2010 by 1.1 percent — to 65.1 percent overall — is the largest decrease since the 1930 to 1940 period, the Census Bureau reported.

Source: U.S. Census 2010 October 20, 2011

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Home Sales Fall, Mortgage Rates Little Changed

Source:  Associated Press “Home sales fall, mortgage rates little changed” 10/20/2011

Home sales are on pace to match last year’s dismal figures — the worst in 13 years.

The average rate on 30-year fixed mortgages was nearly unchanged this week after rising last week.

Freddie Mac says the average rate on 30-year loans edged down to 4.11% from 4.12% last week. The week before, it fell to 3.94%, lowest rate ever, according to theNational Bureau of Economic Research.

The average rate on the 15-year fixed mortgage ticked up to 3.38 percent from 3.37 percent. It hit a record-low of 3.26 percent two weeks ago.

To view the entire article, please click here >>>>

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Featured Home of the Week – Bremen, Indiana

INTEGRA Real Estate of Michiana (p) 574-855.4575

MLS #: 252552

181 MEADOWLARK –  BREMEN, IN 46506

$67,000

City: BREMEN Zip Code: 46506
Area: MARSHALL COUNTY Township: OTHR
Style: 1 Story Bedrooms: 3
Full Baths: 2 Half Baths: 0
Dining Room: SqFt: 1460
Basement Type: Garage: 2 Car, Attached
Appliances Included: No Appliances Included Heating: Gas, Forced Air
Cooling: Central Air Water Heater: Gas
Water Softener: None Water Sewer: Municipal Water, Municipal Sewer
Exterior: Wood
Flooring: Carpet, Wood
Lot Size Front: 0
Lot Depth: 0
Annual Taxes:: 640
Year Built: 1975
Interior/Exterior:
Remarks: PROPERTY IS BEING SOLD SUBJECT TO 24 CFR 206.125 RANCH HOME, 3 BR, 2 FULL BATHS, ATTACHED 2 CAR GARAGE, CRAWL SPACE FOUNDATION. BREMEN SCHOOL SYSTEM, PRICED TO SELL.

For more information, please call 574-855-4575 or visit www.integramichiana.com

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Featuted Home of the Week – INTEGRA Real Estate of Michiana – 201 Colfax W Mishawaka, IN

INTEGRA Real Estate of Michiana (p) 574.855.4575

MLS #: 251563

201 COLFAX AVE W – MISHAWAKA, IN 46545

$79,000

City: MISHAWAKA Zip Code: 46545
Area: MISHAWAKA S Township: MISH
Style: 1 Story Bedrooms: 2
Full Baths: 1 Half Baths: 0
Dining Room: Eat-In Kitchen SqFt: 800
Basement Type: Full Block Garage: Attached, 1 Car
Appliances Included: Range/Oven, Refrigerator, Microwave Oven Heating: Gas
Cooling: Central Air Water Heater: Gas
Water Softener: None Water Sewer: Municipal Water, Municipal Sewer
Exterior: Alum/Vinyl Trim
Flooring: Vinyl, Wood, Carpet, Tile
Lot Size Front: 44
Lot Depth: 221
Annual Taxes:: 472
Year Built: 1948
Interior/Exterior: Ceiling Fan, Glass Enclosed Porch, Deck, Fenced Yard, Master Bdrm-1st floor
Remarks: TOTTALLY REMODELED BEAUTY. BEAUTIFUL KITCHEN WITH APPLIANCES AND PLENTY OF ROOM FOR A LARGE KITCHEN TABLE. INCREDIBLE SUN ROOM/4 SEASON PORCH WITH ALLNATURAL WOOD AND WOOD BURNING STOVE, DIRECT ACCESS OFF THE ATTACHED GARAGE, AND YOUR CUSTOM DECK AND FENCED IN YARD. BEAUTIFUL WOOD FLOORS, NEW CARPET, NEW PAINT, NEW LIGHT FIXTURES, LARGE YARD STEPS AWAY FROM JOHN YOUNG MIDDLE SCHOOL, BUT YET STILL VERY PRIVATE. NEW STAINLESS APPLIANCES.LOTS OF MATURE TREES AND SHADE, NEW LANDSCAPING AND SO MUCH MORE. YOU WILL FALL IN LOVE ONCE YOUR INSIDE.

For more information, please visit www.integramichiana.com or call 574-855-4575.


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Record Mortgage Rates 3.94%

Source:  Associated Press “Under 4% now: 30-year mortgage rate hits record low” October 06, 2011

The average rate on the 30-year fixed mortgage this week fell below 4% for the first time ever, to 3.94%

For those who can qualify, it’s an extraordinary opportunity to buy or refinance. And mortgage rates could fall even further now that the Federal Reserve plans to reshuffle its portfolio of securities to try and lower long-term rates.

On Thursday, Freddie Mac said the average rate on a 30-year fixed mortgage dropped from 4.01% last week, the previous low. The average rate on a 15-year fixed loan, a popular refinancing option, dipped to 3.26%, also a record.

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Foreclosures Rising

Foreclosure starts moved up 20 percent in August over July, posting their highest monthly levels of the year. But there are signs of improvement: Foreclosure starts were down more than 12 percent compared to August of last year, according to Lender Processing Services in its latest report.

According to LPS, the states with the highest percentage of loans in delinquency or foreclosure are:

  • Florida
  • Mississippi
  • Nevada
  • New Jersey
  • Illinois

Source:  REALTOR® Magazine Daily News “Foreclosure starts rise to highest level of the year” 10/05/2011

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USA Today: Shadow inventory keeps home prices depressed

Source:  USA Today “Shadow inventory keeps home prices depressed” October 1, 2011

Stagnant home prices have become part of the new normal nationwide, and one of the big reasons is the nation’s giant shadow inventory — the hundreds of thousands of homes like those on McGregor’s route that are either in foreclosure or repossessed by banks, but not yet on the market.

Already, more houses are for sale in America than people want to buy, and the roughly 1.6 million homes in the nation’s shadow inventory promise to drag down home prices for years, experts say. States like California, Florida, Illinois, Georgia, and Ohio have the largest shadow inventories, according to RealtyTrac, a firm that tracks foreclosures and delinquent properties nationwide.

The odds are, when the house does sell, it will be for a greatly reduced price. Foreclosures have sold for a fraction of their assessed value on Seelhammer’s block in the past two years. . According to the Polk County Assessor’s office, one house assessed at $134,900 sold for $45,250 in February and another assessed at $75,600 sold for $40,000 in September 2009.

Ohio has almost 70,000 homes in its shadow inventory, according to RealtyTrac. California has nearly 270,000 homes.

To view the entire article, please click here >>>>

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INTEGRA Real Estate of Michiana – Featured Home of the Week – 532 Carroll South Bend Indiana

INTEGRA Real Estate of Michiana (p) 574-855-4575

MLS #: 251948

532 CARROLL – SOUTH BEND, IN 46601

$170,000

City: SOUTH BEND Area: SOUTH BEND SE
Zip: 46601 Township: PORT
Style: 2 Stories SqFt: 5210
Lot Size Front: 66 Lot Depth: 132
Garage SqFt: Full Baths:
Half Baths: Heating: Gas
Cooling: Central Air Present Use: Multi-Family
Property Type: Multi-Family Total Units: 2
Water/Sewer: Municipal Water, Municipal Sewer U1 Rooms: 10
U1 Bedrooms: 5 U1 Full Baths: 2
U1 Half Baths: 0 U1 Rent:
U2 Rooms: 12 U2 Bedrooms: 7
U2 Full Baths: 2 U2 Half Baths: 0
U2 Rent: U3 Rooms: 0
U3 Bedrooms: 0 U3 Full Baths: 0
U3 Half Baths: 0 U3 Rent:
U4 Rooms: 0 U4 Bedrooms: 0
U4 Full Baths: 0 U4 Half Baths: 0
U4 Rent:
Additional Features:
Lease Type:
Exterior: Wood
Current Zoning: MU
Parking/Garage: Street
Year Built: 1920
Annual Gas Expense:
O/T Pays Gas: Tenant
Annual Electrical Expense:
O/T Pays Electric: Tenant
Annual Heating Expense:
O/T Pays Heat: Tenant
Annual Cooling Expense:
O/T Pays Cooling: Tenant
Annual Water/Sewer Expense:
O/T Pays Water/Sewer:
Annual Trash Expense:
O/T Pays Trash:
Annual Taxes: 1,211
O/T Pays Taxes: Owner
Annual Insurance Expense:
O/T Pays Insurance: Owner
Annual Maint Expense:
O/T Pays Maint: Owner
Annual Snow Removal Expense:
O/T Pays Snow Removal:
Annual Water Softener Exp:
O/T Pays Water Softener:
Annual Management Expense:
O/T Pays Management:
Remarks:

For more information, please call 574-855-4575 or visit www.integramichiana.com

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For Sale – 919 Garden Lane – South Bend – IN – INTEGRA Real Estate of Michiana

MLS #: 249383

919 GARDEN LN – SOUTH BEND, IN 46619

$55,900

City: SOUTH BEND Zip Code: 46619
Area: SOUTH BEND SW Township: SPOR
Style: 1 Story Bedrooms: 3
Full Baths: 1 Half Baths: 0
Dining Room: SqFt: 914
Basement Type: Partial Block Garage: Carport
Appliances Included: No Appliances Included Heating: Gas, Forced Air
Cooling: Central Air Water Heater: Gas
Water Softener: None Water Sewer: Municipal Sewer, Municipal Water
Exterior: Alum/Vinyl Trim
Flooring:
Lot Size Front: 70
Lot Depth: 175
Annual Taxes:: 1,581
Year Built: 1940
Interior/Exterior:
Remarks: COMPLETELY REDONE! EVERYTHINGS NEW. KITHCHEN, BATH, CARPET AND PAINT. NICE QUIET AREA CLOSE TO SCHOOLS, BUS LINES AND SHOPPING. LARGE YARD, FRONT AND BACK. REALLY SOLID HOME AT AN AFFORDABLE PRICE.

For more information, please call INTEGRA Real Estate of Michiana at 574-855-4575 or visit www.integramichiana.com

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INTEGRA Real Estate of Michiana Feature Home of the Week 22919 Ireland Rd South Bend, Indiana

INTEGRA Real Estate of Michiana (p) 574.855.4575

MLS #: 251078

22919 IRELAND RD  -  SOUTH BEND, IN 46614

$249,900

City: SOUTH BEND Zip Code: 46614
Area: GREENE Township: GRN
Style: 2 Stories Bedrooms: 3
Full Baths: 2 Half Baths: 0
Dining Room: Formal SqFt: 2300
Basement Type: Full Block Garage: Detached, 2 Car, Garage Door Opener
Appliances Included: Range/Oven, Microwave Oven, Dryer, Washer, Dishwasher, Disposal Heating: Gas
Cooling: Central Air Water Heater: Gas
Water Softener: Owned Water Sewer: Well, Septic Tank
Exterior: Brick
Flooring: Carpet, Hardwood, Tile
Lot Size Front: 0
Lot Depth: 0
Annual Taxes:: 1,711
Year Built: 1947
Interior/Exterior: Security System, Ceiling Fan, Hot Tub, Covered Patio, Storage Shed, Master Bdrm With Bath, Pole Barn, Fireplace-Gas Log, See Remarks
Remarks: MUST SEE AMAZING PROPERTY WITH MANY CHARMING EXTRAS! BEAUTIFUL BRICK TWO STORY HOME LOCATED ON 5 ACRES. RECENTLY UPDATED KITCHEN AND OUTSTANDING UPDATES IN THE FULL SECOND FLOOR MASTER SUITE. THE FORMAL DINING ROOM AND LARGE FAMILY ROOM ARE PERFECT FOR ENTERTAINING & THE ENCLOSED BACK PORCH LEADS TOA LARGE CONCRETE PATIO GIVING A CALM COUNTRY FEEL . THE PROPERTY INCLUDES A POLE BARN WITH 2 HORSE STALLS, GRAPE ARBOR, DOUBLE GARAGE & HOOK UP FOR AGAS GRILL. ACERAGE INCLUDES AN EXTRA BUILDABLE LOT. THIS BEAUTY WON’T LAST LONG!

For more information, please call INTEGRA Real Estate of Michiana at 574-855-4575 or visit www.integramichiana.com

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