NorthWest Indiana Real Estate Blog

The "State of Real Estate" in Indiana is improving.... Here is a video with Market Statistics from Jim Litten - President of F.C.Tucker Co. Indiana's largest Real Estate Firm with->

F.C.Tucker  Statistics

- 45 Offices

- Over 1300 Sales Associates

- Over $2.1 Billion Sold in 2009

- 14,294 Families Represented in 2009

- 10,489 New Listings in 2009

- 10th Largest Regional Brand in America

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 The Indiana Association of REALTORS has a great website called Indiana Is Home.

There is a collection of Market Data Reports with Statistics on home Sales in Indiana by County updated montly

Here is a link to January 2009 vs. January 2010 Existing Single Family Residential Home Sales

When Indiana's largest Real Estate Company puts on an event - It's 1st class !

At least that has been our experience over the last 9 years, being affiliated with F.C.Tucker Co.....1st as Sales Associates and now as Broker/Owners of one of their 45 offices in Indiana (ours being the northwest office in Valparaiso, IN  which services Lake, Porter & La Porte Counties).

The Venue was spectacular! The beautiful landmark in Downtown Indianapolis - The Scottish Rite Cathedral cost over $3 MILLION DOLLARS way back in 1927 to complete!

It's ornate architecture with craftsmanship details and stained glass windows was certainly something to be taken in and appreciated!

The Awards ceremony took place in the Theater.

Jim Litten (co-owner) gave a re-cap of events in 2009 that affected Real Estate. He referred to 09 as "A Year of Anxiety" with reminders of Bank Failures, Bailouts, economists use of words like recession and even depression. He pointed out that 4 states account for 50% of the stressed markets (CA,AZ,NV,FL) and reminded us that ALL REAL ESTATE IS LOCAL.

That being said, he reported very positive news=> that F.C.Tucker Company did over 2.2 BILLION dollars in sales in 2009 in Indiana - up from the previous total sales year of 2008. October of 2009 was the companies 2nd best month ever in Real Estate Sales history!

Fred Tucker III, then presented hundreds of awards to honor the achievements of REALTORS around the state who persevered and prospered during these challenging times despite the negative press.

One award in particular brought tears to my eyes. The Special Volunteer of the Year Award - Honoring Above and Beyond Service to Mankind went to an F.C.Tucker Agent, who gave her kidney to a complete stranger as a Samaritan Donor in the Fall of 2009. God Bless her!

F.C. Tucker is so much more than a Real Estate Company - it's the PEOPLE who make it special :)

Like the final award for the evening:

The Bud Tucker Volunteer of the Year Award, an annual award honoring an individual in his/her commitment to community service, or, as Fred's father Bud once put it ...Civic Duty- "The rent you pay back for the space you occupy".  Recapping the countless past winners and sharing the current vitae of this years recipient brought tears to Fred Tucker's eyes as he brought up this years winner, with his wife and 2 sons appearing on stage to surprise him and share the moment!

The Banquet following the Awards presentation was filled with Food & Dance & Fun!  Gourmet Food Serving Stations with eclectic presentations i.e. pasta in martini glasses, stir fry in take out boxes, and lavish chocolate desserts! PLUS, a live band made up of TUCKERS own talented musicians and singers to rock the night away :) Mingling and networking galore with agents from all around the state for several more hours into the night!  FUN is an understated adjective to describe the evening.

 I tell Jeff every year this gets better & better  - they out do themselves ?!  You just have to experience this event for yourself 1st hand...If you are considering a change in Real Estate Firms in Indiana - Talk To Tucker, so we can see you at next years celebration:)

Typically, we take a vacation around the winter season in NW Indiana because activity on listing and selling real estate USED TO slow down somewhat.

Not anymore:) 

Over the past couple weeks we've been blessed to assign relocation clients to each one of our experienced agents!

Even while taking a few days R & R in Florida, our corporate office called us with more potential client referrals looking to either buy or sell a home in Northwest Indiana.

Relocation referrals are a benefit of being a F.C.Tucker 1st Team Real Estate agent, and they are distributed in sequence one by one right down the list of agents on board with us (unless an agent is requested by name).

The volume of referrals comes from being a member of the Leading Real Estate Companies of the World

If you are an experienced professional REALTOR looking for a change in 2010 and enjoy relocation clients, call Jeff or Grace for a confidential interview to see if our Virtual Real Estate Brokerage Model  is something that would interest you.

Our Listings of REO or Bank Owned Properties For Sale are selling quickly in Northwest Indiana.

Recently we had a listing which was under contract in only 14 days on the market, and closed 27 days later. 

However - there was much time, energy and effort by us behind the scenes working collaboratively with the REO specialist at the bank which took months PRIOR to this happening!

 This included:

  Doing Broker Price Opinion's in both an "as-is" condition AND another BPO with repair estimates included.

This required meeting multiple licensed contractors at the property in order to provide detailed written quotes on any Repairs or Mold remediation.

Submitting these to the REO Manager (on Bank Forms) and awaiting the file to be returned from committee for decision on what work will actually be doneand the decision on listing price, takes persistent follow up skills. 

Detailed Photos (before and after) and invoicingmust be kept & shared with the bank contact.

Also, the REO department has specific Bank Contracts and Addendum's that differ from our State or Local Board Real Estate agreements and these must be reviewed carefully.

Sometimes, customary fee's like Title Insurance, are NOT customary , but negotiable! 

Financing REO Properties is another topic in and of itself these days :)

Mortgage departments familiar with this ever growing trend of Real Estate sales are sharing their specific requirements for internal financing of REO properties which may or may not differ from their Local lending branches for conventional home sales.

All in all, in our opinion here are the keys to a quick REO sale ->

• Competitive Market Price- a Real Estate Broker experienced in BPO's can help set this!
• Decent Property Condition - a home in which health or safety concerns have been addressed & corrected sells quicker!
• Mass Marketing efforts / Internet sydication of the listing from day one of going on the market- multiple showings and competition among qualified buyers yields better offers (a Certified Residential Specialist can help with this :)
• Excellent communication,attention to details, and meticulous follow through by the Listing Agent (s) of Record are needed in this current market to get deals to the closing table!

 If you are a Bank or Lender who has Inventory of Foreclosed Homes in NW Indiana and are looking? to   move them quickly, please call us for a confidential consultation.  References available on request.

Help us in welcoming

Olga M. Kwolek - Experienced REALTOR

to F.C.Tucker Company's 32nd affiliate brokerage office statewide:

F.C.Tucker 1st Team Real Estate serving Northwest Indiana

Olga has 25 years of selling and marketing experience which makes her a great candidate to come on board with our Virtual Office Model of Real Estate Practice for professionals.

A licensed professional Realtor who prides herself in superior Customer Service, she has been married for 30 yrs. to her husband Phillip and has been established in Valparaiso for 17 yrs.

Contact Olga for a marketing anaylsis and sales plan customized to your specific needs.
She is bi-lingual, English and fluent in Spanish - HABLO ESPANOL.

 If you are looking to buy or sell a home or property in Lake, Porter or La Porte Counties in NW Indiana,

Talk To Olga @

219-916-1955

or

Toll Free @ 800 - 671-2898

email : 

olgasagent@yahoo.com

We wish her

continued success!

With more than $2 billion in annual sales, F.C. Tucker Company is Indiana’s largest independently owned comprehensive real estate firm with 46 offices and more than 1,500 sales associates throughout Indiana and select markets in Kentucky. Less than one percent of all real estate firms have the longevity of F.C. Tucker. Founded in 1918, the company’s family of businesses includes a full range of real estate services—mortgages, title insurance, relocation services, a full line of insurance products, auctioning and homeowner warranty products. F.C. Tucker has earned a reputation for its exceptional service, experienced sales associates and “Golden Rule” commitment to its clients and employees.

We've Blogged about La Porte County Indiana before.....this week we listed a Ranch Home For sale in

  the town of Wanatah, IN 46390.

The home is being Sold as is and needs some work, but the scenic setting of a farm in your backyard and the spaciousness of the home for the price is worth careful consideration - especially for those who can do the updating themselves as it is affordably priced!

Wanatah is know for it's annual Scarecrow festival! In just a few weeks...the weekend of September 25th, 26th & 27th the town is transfromed with displays of scarecrows, contests, a race, vendors food and activites for all ages...here is the schedule of events for this year

Map & Directions

Wanatah is located in southern LaPorte County in northwest Indiana at the corner of U.S. Hwy 30 and 421, easily accessible from most interstates and expressways.

Here is a photo slide show with information on the Property For sale in Wanatah, Indiana

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Corporations continue to move their Managers and Executives despite economic conditions.

Seasons do not matter either.....Today we Closed on a home in Porter County, IN in which we represented the Relocating Buyers.

We've been blessed with a wave of RELO business lately in NW Indiana.

The benefits of being part of F.C.Tucker - Indiana's Largest Real Estate Company...which is part of the Largest Relocation network in the WORLD !

Relocation Clients come pre-approved with a narrow window or time frame to find a home and the transaction itself moves rather quickly - only a few weeks from accepted offer to closing!

The best fringe benefits of working with relocating buyers is making new friends! We plan to visit them next week when they are settled in their new home :)

If you are an experienced REALTOR and would like to be afforded the opportunity to work with referrals of corporate relocation business, please give us a call for a confidential interview.

This past Tuesday, Jeff & I attended the IAR Region I Road show held this year in La Porte County, in the Grand Ballroom of the Blue Chip Casino in Michigan City.

We go every year and especially look forward to the legislative updates by Sally Johnson our IAR government affairs/Lobbyist and legal updates by IAR attorney Richelle Cohen Mossler.

 3 things I found interesting from this conference which was attended by nearly 200 REALTORS/members of our local GNIAR Board:

• The Statewide Number of Members of the Indiana Association of REALTORS has dropped from 21,000 to 16,600 and the speaker said they expect an even further drop by year end speculating bottom at 13,000 ?

• Case of Pride  Vs. Christian Buyer who breached Indiana Residential Purchase Agreement did end up paying $$$$$ to parties affected.

• HVCC related issues ->Complaints against appraisers on the basis of "GEOGRAPHIC Incompetance"  are being filed.

This year I tweeted all the great new website info from the various speakers PowerPoint presentation

so if you follow our twitter feed, you already saw some of these links :)

As Professional REALTORS, keeping current and informed on the frequently changing laws, and even moreso, being aware of legislation introduced that impacts the homeowner or Home Buying consumers who we serve is important to us!

IAR does a great job of traveling around the state with annual Road Show Updates and we appreciate this!

 Just as we have the choice of who we want to do business with - so do our clients!

There is an old saying" the greatest friend of truth is time :)

Our repeat business continues to grow from clients "moving up' or "downsizing" from properties in which they used our representation previously.

Friday, we closed on a home listed in Crown Point, IN in which we represented the buyers in several previous real estate transactions over the past decade.

The fringe benefits of our business are priceless...to be able to see their little one grow, to be invited to their summer barbeque's, to even stay in touch by social media!

We never bring gifts to closings anymore. Waiting and making a personal visit to spend time with people face to face is, for us, the best way to say we appreciate them choosing us as their REALTOR.

People don't care how much you know...until they know how much you care.

There are thousands of REALTORS on our local board to chose from. We're humbled at the opportunity to serve and wish our clients blessings for many years to come in their new Home Sweet Home!

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 Thanks for stopping by and reading our Blog about Life in NW Indiana, The Housing Market, Communities, Local Spots, Events, attractions & more @ NorthWestIndianaRealEstateBlog.com

 Sincerely,

Jeff & Grace Safrin Broker / Owners

F.C. Tucker 1st Team Real Estate  - Independently Owned & Operated

13 Lincolnway Suite # 203,        Valparaiso, IN 46383           Office # 219-309-9930

On  Facebook? be-friend us, look up Jeff Safrin  : )  Linked in??  link to us, look up Grace Safrin  : )

TWITTER??? ...Follow....  SAFRIN

Yesterday, F.C. Tucker 1st Team Real Estate showed up for business on our Local MLS (The Greater Northwest Indiana Association of REALTORS).

Although the announcement came out from F.C.Tucker's Corporate Offices in Indianapolis, IN on 7/8/9....that we were new Owners, visiting & calling over 30 some loyal clients to get the paperwork done took a day or so :)

While we were at our new office @ 13 Lincolnway, Suite # 203 in downtown Valparaiso Indiana, 46383- we received a pleasant surprise - a flower delivery

The Broker /Owners of F.C.Tucker Emge REALTORS (Kathy Briscoe and Kevin Eastridge)who have offices all the way down in Evansville, IN sent them to us !

A big thanks to them - we look forward to sending you referrals!

As Always,

We appreciate your business & referrals.

Sincerely,

Jeff & Grace Safrin

Broker / Owners

F.C. Tucker 1st Team Real Estate

Independently Owned & Operated

Serving Northwest Indiana - > Lake County, Porter County, La Porte County, Starke County.

We've come across some Blog posts about the topic of Buyers making offers to purchase homes        significantly lower than the asking price. We can certainly relate to how other REALTORS feel about this topic, (and this post is NOT about having a HIGH Ball to help you deal with offers like this :) .... Recently we've had to deal with a low offer that came in on a property we had listed for sale in NW Indiana.

The saying /strategies "some offer is better than no offer" & "let's try and work with this" don't always go over very well with some sellers we represent. Especially when the offer price is very low = 26% below the list price!

Or, If the buyers agent would send over recent comps to justify the stock market like price drop - we would certainly do a double take (and wonder why didn't we already see those comps when we did the CMA ) and we would then present the facts to our seller to get negotiations going! This property was not a Short Sale. (Even on a short sale the bank has a BPO done and knows the bottom line of what they are willing to accept.)

However not on a move in condition property, well maintained and priced competitively below the sold non REO comparables in the neighborhood.

One typical seller response on offers like this may be to flat out REJECT THEM or even ignore the offer.

Especially when showings on the property are abundant and there are calls from other agents who anticipate writing offers on this very same home as well.

With this good news about the property activity in mind, Jeff shared with our seller a lighthearted strategy introduced to us by Terry Watson - a world known speaker at our Company's ( F.C. Tucker, Inc.) annual Convention this past February.

 Terry talked about a mirror image offer to reflect the Buyers Low Ball offer to MAKE A POINT.

+ counter

_____________________$ List price

- offer

If the buyers offer is 26 % below the asking or list price - the counteroffer would reflect the same % of increase in list price. Our seller loved the idea and opted to do this.                   

 Just like the Shoe on the Other Foot Idiom..... the reactions to this High Ball Counter Offer from the buyer and other agent mirrored exactly some of the same initial sentiments that our sellers felt when receiving the Low ball offer!

Exclamations like: Are You Kidding me?

I'm Starting With The Man In The Mirror
I'm Asking Him To Change His Ways

Was the BUYER willing to see & change his ways? .... we will never know....as faith has it ( the other ½ of

Proverbs 28 :25 says: "but he who trusts in the LORD will prosper" )

Another offer came in on the same home @ 98% of LIST price a 24 % difference to our seller from the 1^st Low Ball offer.

The Home SOLD.        Now, We will toast to that!             Cheers :)

___________________ 

 Thanks for stopping by and reading our Northwest Indiana Real Estate Blog!

We closed today on a beautiful home we listed for sale in DeMotte, IN ( Jasper County,  46310 ).

 This Listing was the result of the sphere of influence of another client who found us on one of our many websites (POINT 2) and liked the way we marketed homes and recommended us to family !

A 2 Bedroom Single Family Home is not as in demand as 3 & 4 BR properties in NW Indiana, but, as Jeff says - there is a buyer out there for just about every property type ;) 

The setting was scenic and the price affordable and the condition well maintained...so an offer to purchase came from a pre-approved, qualified buyer on the 80th day of being on the market!

With professional collaboration between the Buyer's Agent and Listing Agents together with the Buyer and Sellers cooperation, all the many steps of this transaction's process were worked through!

 Thanks for stopping by and reading our Northwest Indiana Real Estate Blog!

 Just as the seasons change here in NW Indiana, we help clients achieve their Real Estate Goals in various seasons in life. We look forward to serving you.

 Sincerely,

Jeff & Grace Safrin - "Spouses Selling Houses" TM

Real Estate Broker Associates with F.C. Tucker Advantage Realty - phone # 219-405-1232.

Valparaiso residents serving Lake, Porter, La Porte, Jasper & Newton Counties in NW Indiana.

1st time Home buyers - if you buy a home and close on the deal by 11/30/09, you may qualify for up to $8000 in Tax Credit's - that's a BIG refund Check around tax time - and people are already getting them- why not you? !

On  Facebook  ?...... be-friend us - look up Jeff Safrin  : )    

 Linked in??.....  link to us... look up Grace Safrin  : )

TWITTER?? ...Follow....  SAFRIN

 Disclaimer: The opinions expressed by those providing comments are theirs alone, and do not reflect the opinions of Jeff and Grace Safrin of F.C. Tucker Advantage Realty. Jeff and Grace Safrin and F.C. Tucker Advantage Realty are not responsible for the accuracy or content provided.

We've Blogged about the Town of Merrillville Indiana before. This Lake County, Indiana town - with it's proximity to Chicago-land by Expressway or Skyway, makes it convenient for commute to work in the neighboring state of Illinois, yet pay less taxes.

With attractions nearby like the Star Plaza Theater &  Westfield Shopping Mall, you don't  have far to go from home for necessities or entertainment.

Yesterday, we listed a 2006 Built Home with many upgrades and improvements added! Like the meticulous professional landscaping and the inground sprinkler system. a Privacy cedar fenced backyad plus a oversized cement patio.  The NEW Sunroom Addition is awesome and offers year round views of nature - watch the ducks and deer come up to the pond - we even captured this on film during the listing appointment:)

Located on the border of Merrillville & Schererville - Creekwood Crossing is a newer development.

The prestigious Forest Ridge Academy is a short drive from this home for those interested in private education for their children.

Enjoy the photo slide show of this home which has been meticulously maintained inside & out!

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If you are looking to Buy or sell a Home or property in NW Indiana, give us a call @ 219-405-1232. We are full time Real Estate Brokers affiliated with Indiana's largest Real Estate Company - F.C.Tucker (est.1918)

 Let our service MOVE you, as it has many others!

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Thanks for stopping by and reading our Northwest Indiana Real Estate Blog!

 Just as the seasons change here in NW Indiana, we help clients achieve their Real Estate Goals in various seasons in life. We look forward to serving you.

 Sincerely,

Jeff & Grace Safrin - "Spouses Selling Houses" TM

Real Estate Broker Associates with F.C. Tucker Advantage Realty - phone # 219-405-1232.

Valparaiso residents serving Lake, Porter, La Porte, Jasper & Newton Counties in NW Indiana.

On  Facebook  ?...... be-friend us - look up Jeff Safrin  : )    

 Linked in ??.....  link to us... look up Grace Safrin  : )

TWITTER?? ...Follow....  SAFRIN

 Disclaimer: The opinions expressed by those providing comments are theirs alone, and do not reflect the opinions of Jeff and Grace Safrin of F.C. Tucker Advantage Realty. Jeff and Grace Safrin and F.C. Tucker Advantage Realty are not responsible for the accuracy or content provided.  

This Move in Ready & Affordable TownHome, perched at the end of a Scenic Cul De Sac Lot has been freshly painted (neutral Colors) and has clean carpets, plus all the Whirlpool Appliances ( even Washer & Dryer) Stay!

Convenient Location, close to the Hospital, Schools & Shopping + Major roads nearby....Barrington Ridge offers community amenities like a private swimming pool, clubhouse, park and playground for you to enjoy this summer!

Click on the Map to get an aerial view of this Community, Click on DESCRIPTION in the slide show below to read more information about this property, plus check out the website links to the Town of Hobart, Indiana...Local Schools and St. Mary's Hospital Campus nearby.

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Please call 219-405-1232 for more information or to schedule a private showing.

On  Facebook  ?...... be-friend us - look up Jeff Safrin  : )    

 Linked in ??.....  link to us... look up Grace Safrin  : )

TWITTER?? ...Follow....  SAFRIN

Jeff & Grace Safrin REALTORS - "Spouses Selling Houses' TM

Real Estate Broker Associates with  F.C. Tucker - Indiana's Largest Real Estate Company

If we can help you find a home or land in NW Indiana, give us a call @ 219-405-1232 - we are Full Time, Full Service, Real Estate Brokers serving Lake, Porter, La Porte, Jasper & Newton Counties.

Thanks for Visiting our Blog! To read more about local NW Indiana events, sports, and more, click our blog link below. For more homes for sale view our Other Listings @ www.safrin.net-client testimonials!

    We are Your Local Expertsfor NW Indiana Real Estate.

    Call or email us for a RELOCATION Package Today

Disclaimer: The opinions expressed by those providing comments are theirs alone, and do not reflect the opinions of Jeff and Grace Safrin of F.C. Tucker Advantage Realty. Jeff and Grace Safrin and F.C. Tucker Advantage Realty are not responsible for the accuracy or content provided.

The City of Hobart, Indiana is located in Lake County, the Northwest Indiana county which borders Illinois.

Recently we listed a Commercial Property - with a Large (4222 square ft.) Building for Business - located on an Acre Lot in a prime location, with significant Traffic count ( 8350 daily) on State Road 130 (this was formerly known as the Old Hobart Animal Clinic). With ample Parking (46 Spaces) and even a newer detached Garage for additional storage - this is alot of structure & land for the $$.

If you are looking for office space or a location for business that is reasonably priced and offers access to both Hobart and Valparaiso ( SR 130 connects Hobart to Valpo - the county seat of Porter County, IN )

this parcel is worth your careful consideration!

Click on the Bird's Eye View in the MAP below to get an aerial view of this property....

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Talk To Jeff Safrin - Real Estate Broker with F.C.Tucker - Indiana's Largest Real Estate Co. (est.1918)

for more details and tp schedule a private showing. Call 219-405-1232 .

   ________________

   On  Facebook  ?......be-friend us - look up Jeff Safrin  : )    

 Linked in ??.....  link to us... look up Grace Safrin  : )

TWITTER?? ...Follow....  SAFRIN

If we can help you find a home or land in NW Indiana, give us a call @ 219-405-1232 - we are Full Time Full Service Real Estate Brokers serving Lake, Porter, La Porte, Jasper & Newton Counties.

Thanks for Visiting our Blog! To read more about local NW Indiana events, sports, and more, click our blog link below. For more homes for sale view our Other Listings @ www.safrin.net-client testimonials!

    We are Your Local Expertsfor NW Indiana Real Estate.

    Disclaimer: The opinions expressed by those providing comments are theirs alone, and do not reflect the opinions of Jeff and Grace Safrin of F.C. Tucker Advantage Realty. Jeff and Grace Safrin and F.C. Tucker Advantage Realty are not responsible for the accuracy or content.

La Porte County Home SOLD - Your choice of REAL Estate Professionals does make a difference.

Not every REALTOR is the same...

On  Facebook  ?...... be-friend us - look up Jeff Safrin  : )    

 Linked in ??.....  link to us... look up Grace Safrin  : )

TWITTER?? ...Follow....  SAFRIN

Jeff & Grace Safrin REALTORS - "Spouses Selling Houses' TM

  Earlier this week,  Jeff got a call to do another Broker Price Opinion on a deserted Home Facing Foreclosure in Northwest Indiana.

It's sad to note, that some of these properties have been neglected for a long time, with water damage and mold growing as a result.

Surprising that people wait so long and finally abandon their homes. I often wonder when looking at the damages shown by photos....  if the homeowner tried calling a Real Estate Broker experienced in negotiating short sales early in the game....before it's too late....or even talked to the lender about loan modification programs to get a lower interest rate before their 1, 3, or 5 year ARM (adjustable rate mortgage) came due?

The bright spot in the trip came when he stopped along the way back home and took this picture of a Swan carefully guarding her NEST....there is no doubt she would fuss and fight if anyone threatened to take it away.

An old Proverb came to mind when I saw this photo :

Proverbs 27:8 
    ⁸Like a bird that wanders from her nest,
         So is a man who wanders from his home.

If you are behind or unable to make your mortgage payments - call us to discuss possible options.

_____________

Jeff& GraceSafrin " Spouses Selling Houses" TM

Real Estate Broker / Owners of  F.C. Tucker - 1st Team Real Estate one of 32 offices Independently owned and operated affiliated with F.C.Tucker- Indiana's Largest Real Estate Company (established1918).

 If we can help you find a home or land in NW Indiana, give us a call @ 219-405-1232 - we are Full Time Full Service Real Estate Brokers serving Lake, Porter, La Porte Counties.

On  Facebook  ?...... be-friend us - look up Jeff Safrin  : ) 

 Linked in ??.....  link to us... look up Grace Safrin  : )

TWITTER?? ...Follow....  SAFRIN

Here is our updated Resume.....

_____________

Jeff& GraceSafrin " Spouses Selling Houses" TM

Real Estate Broker Associates with  F.C. Tucker - Indiana's Largest Real Estate Company

 If we can help you find a home or land in NW Indiana, give us a call @ 219-405-1232 - we are Full Time Full Service Real Estate Brokers serving Lake, Porter, La Porte, Counties.

On  Facebook  ?...... be-friend us - look up Jeff Safrin  : ) 

 Linked in ??.....  link to us... look up Grace Safrin  : )

TWITTER?? ...Follow....  SAFRIN

  D

 What can Indiana REALTORS do when Short Sale Offers are getting no response from the Lender ?

New LAW in Indiana affecting Short Sale Response Times For Lenders HB 1359 states that a lender has 10 days to acknowledge receipt of a short sale offer and 30 days to respond to the offer.

Recently, an email newsletter from our Local REALTOR Board had the link to the form needed to file a complaint should the lender not respond to an offer according to the parameters of this Law.

***Complete this form referencing Indiana Code listed below, details of the lack of response within the required guidelines and supporting documentation.  Mail or fax the address below and send copy of the complaint to the lender:

Indiana Department of Financial Institutions
Attention: Dave Larson
30 South Meridian Street
Suite 300
Indianapolis, Indiana 46204-2759
FAX: 317-232-7655

Indiana Code References:

IC 24-4.4-2-201

IC 24-9-3-6 Version b***

Please NOTE before you do this.....Many times, the loss mitigation departments of lenders (which may be located outside of our state of Indiana) are not even aware of this NEW Law...so, just sharing the info & informing them of HB 1359, usually gets the ball rolling in your clients favor.

We have not had to fill this form out YET, as the majority of our Short Sale Listings so far have closed successfully and in a reasonably timely fashion. (Of course we do make sure ALL our ducks are in a row asap with a Short Sale Listing...i.e. short sale package has been totally completed & submitted by our sellers to the lender and the BPO is done, etc..).

However, we have had calls from Indiana REALTORS who've had LONG SALE stories (no pun intended ).

  ....so we are posting these links & info for your reference.....

 FYI ....Our GNIAR newsletter also shared this comment which we will quote...

***"Note:  Filing this complaint form does not guarantee response from the lender.  The Indiana Department of Financial Institutions will track the complaints and look for measures of repeat offenses by certain lenders.  Copying the lender on the complaint is also an important step in reminding the lender that Indiana Law requires these response times."***

***source*** = GNIAR - Greater Northwest Indiana Association of REALTORS Legislative Update.

_____________

Jeff& GraceSafrin " Spouses Selling Houses" TM

Real Estate Broker Associates with  F.C. Tucker - Indiana's Largest Real Estate Company

 If we can help you find a home or land in NW Indiana, give us a call @ 219-405-1232 - we are Full Time Full Service Real Estate Brokers serving Lake, Porter, La Porte, Jasper & Newton Counties.

On  Facebook  ?...... be-friend us - look up Jeff Safrin  : ) 

 Linked in ??.....  link to us... look up Grace Safrin  : )

TWITTER?? ...Follow....  SAFRIN

  Disclaimer: The opinions expressed by those providing comments are theirs alone, and do not reflect the opinions of Jeff and Grace Safrin of F.C. Tucker Advantage Realty. Jeff and Grace Safrin and F.C. Tucker Advantage Realty are not responsible for the accuracy or content provided.