Real Estate is a local business. In NorthWest Indiana the average age of existing housing is 50+ years . This, combined with an aging population of sellers who may be unable or unwilling to renovate that dated kitchen or bath, leaves us with a certain % of Inventory on the Market that you, as a Home Buyer may overlook or cross off your short list.

This may delay your finding that 'perfect home' for weeks or even months and you may just get frustrated and even decide to keep feeding the RENT monster!

We are here to tell you-YOU DO HAVE ANOTHER OPTION.

If the LOCATION of the Home (which you cannot change) is desirable, and the Basic BONES are GOOD (i.e.layout, structure, etc.)

• yet you wish that the 1960's 1970's or 1980's look of the place would disappear :)
• and you find a home priced below your price range,
• with neighborhood comps that are higher due to recent sales of homes in the area that have already been remodeled/updated......
• plus you HAVE IMAGINATION about the Home's HIDDEN POTENTIAL  (how it could look with YOUR input),

Then an FHA 203K Loan may be worth your careful consideration as it allows you to purchase the Property and includes the cost of home repairs, updates/remodeling or rebuilding!

There are special Home Improvement Program Renovation Loan Products out there Insured By HUD that allow you to get bids on the work needed, submit those "Subject to Value Appraisal" and when the loan closes the work starts and the contractors are paid (draws from the lender) after the work is completed! 

Why move into a property and run up your credit cards the 1st few years of living there because you probably will want to make some changes anyway?

 With the amount of REO / foreclosure, short sale and FIXER UPPER or SOLD AS IS properties on the market increasing in our area, this could help solve one of Today's REAL ESTATE Problems.

We can refer you to experienced lenders who have a seperate 203 K department with processors and designated underwriters just to handle the specific details and steps of this type of specialized loan (they even provide 60 day benchmark calendar guide).

We also have some listings for sale in NWI below assessed or appraised value, that with updates would make great Home Sweet Homes!

Give us a call today to see what the Neighborhood Market Analysis is as compared to the prices of these properties below in need of updates:

Chesterton: $195,000 priced below market value

Valparaiso: $145,000 Estate Sale

Portage: $179,000-> 3000 Sq.Ft. - Short Sale