An insider’s view into buying and selling a home
It’s no surprise that potential homebuyers have a few lingering concerns about the housing market today.
Even so, results of the recent National Association of Realtors® (NAR) 8th annual Housing Opportunity Pulse Survey reveal that 8 out of 10 respondents believe buying a home is a good financial decision, despite ongoing challenges with the economy and housing market.
With a dozen developing new home communities in the area, a good number of potential new homebuyers in northwest Indiana visit the information centers and models by Olthof Homes. In general, they all have very similar questions and concerns, according to Todd Olthof of Olthof Homes.
“We came to the conclusion that it would be helpful to host an evening where anyone who simply wanted more information could join us and a few invited guests for ‘An Insider’s View into Buying and Selling a Home,’” he said. “We wanted to share some information that would be helpful to buyers in any situation, and, more importantly, give them an opportunity to ask all of their questions in a relaxed, comfortable environment.”
Promoted for just a few short weeks, the seminar, which was sponsored by Olthof Homes where 2 generations of the Olthof family and their professional staff have been making new home dreams a reality for nearly 50 years, covered an array of topics including an overview of the housing market cycle, what to look for in a new home and a new home builder, how to choose a realtor and what options are available for financing a home purchase today.
Invited guests were welcomed to the Rockwell clubhouse in Dyer and treated to a festive fall buffet supper prior to the presentation.
Todd Olthof got the ball rolling with a look at what’s going in the real estate market today. He addressed the issue of trying to “time the market” and pointed out how well the contrarian investment philosophy has served Warren Buffet well time and time again. Buffett’s strategy for coping with a down market is to approach it as an opportunity to buy good companies at reasonable prices.
Similarly, Olthof quoted Karl E. Case, a professor emeritus of economics at Wellesley and co-creator of Standard & Poor’s Case-Shiller housing index, from an op-ed piece published in the New York Times on September 1.
“I agree with Case when he says that the American dream is still alive,” Olthof said. “For most people, that dream is a solid and fairly safe long-term investment coupled with the satisfaction of owning the home you live in.”
He then cited the same compelling statistics Case included in his article:
“Do the math. Four years ago, the monthly payment on a $300,000 house with 20 percent down and a mortgage rate of about 6.6 percent was $1,533. Today that $300,000 house would sell for $213,000 and a 30-year fixed-rate mortgage with 20 percent down would carry a rate of about 4.2 percent and a monthly payment of $833. In addition, the down payment would be $42,600 instead of $60,000. ”
The conclusion being that “housing has perhaps never been a better bargain, and sooner or later buyers will regain faith, inventories will shrink to reasonable levels, prices will rise,” according to Case.
The realtor and mortgage professional presentations further demonstrated why exceptionally low interest rates make it a great time to buy a new home. You may even find it better with savings up to $20,000 during the Olthof Homes Inventory Sale. For a limited time, you can save big on an outstanding selection of move-in ready homes complete with fabulous finishes and fixtures plus a comprehensive warranty to give you peace of mind.
Featuring a comprehensive collection of single family homes, maintenance-free villas, paired villas, townhomes and condominiums in 12 stellar communities located throughout northwest Indiana, Olthof Homes has an ideal home for you, ready to move into so you can take advantage of today’s low interest rates and enjoy life in your brand-new, worry-free home.
Olthof Homes is the builder of choice when it comes to getting more square footage, quality construction, luxury options and desirable community amenities all for an incredibly affordable price. The company’s proven performance is at the heart of Olthof’s recent inclusion as the Times and Shore 16th annual “Best of the Region” Best Home Builder for 2010.
To learn more about Olthof Homes and the currently available Inventory Sale homes go to olthofhomes.com online or visit the following community information centers Tuesday through Thursday from 11 a.m. to 6 p.m., Friday 11 a.m. to 5 p.m. and Saturday 10 a.m. to 5 p.m.:
• Centennial, 10316 Heritage Way, Cedar Lake. Contact Tony Padilla at 219.374.8200
• Pentwater, Covington and Wyndham Woods, 11672 Maryland St, Crown Point. Contact Bob Eich at 219.662.8800
• Hamilton Square, 902 East 115th Pl, Crown Point. Contact Kelly Balla at 219.226.1900.
• Village Circle and Hearthstone, 1731 Stillwater Ave, Dyer. Contact Lisa McCleskey at 219.322.2525.
• Rockwell Clubhouse, Dyer. Contact Charlotte Covington at 219.322.1199
• Grouse Pointe, near the entrance, St. John. Contact Cheryl Slivka at 219.365.1395
• Lake Hills, 9942 Oakwood Court, St. John. Contact Ray Tambrini at at 219.365.3674
• Saddle Creek and Silver Leaf, 10869 Hillcrest Lane, St. John. Contact Chris Gruhlke at 219.365.0606