UE Starts $8.5 Million Townhouse Apartment Project

The University of Evansville has held a groundbreaking for an $8.5 million on-campus housing project. The townhouse apartments will provide space for approximately 150 students. The effort is part of the school's facilities master plan.

The University of Evansville today held a groundbreaking ceremony for new townhouse apartments, which will provide attractive on-campus housing options for approximately 150 upperclassmen.

The kickoff for the $8.5 million project took place at a 10:30 a.m. news conference in the Class of 1959 Gallery and Lounge in the Ridgway University Center.

“We’re thrilled to break ground on this project, which represents the next phase of the University of Evansville’s facilities master plan,” said UE President Thomas A. Kazee. “We look forward to offering our students a sophisticated, convenient living experience while enhancing the neighborhood around our campus.”

Two townhouse buildings will comprise the “Frederick Commons” (between Frederick Street and Weinbach Avenue) and four buildings will make up the “Walnut Commons” (on the north side of Walnut Avenue and Rotherwood Avenue). Half of the townhouses will be complete and available for move-in in August 2013, with others following in October 2013 and January 2014.

The new townhouses are part of UE’s facilities master plan, announced in March 2012, which will guide the University’s building projects and renovations over the next decade. After an assessment of needs, which included interview and focus group sessions with UE students, faculty, staff, administrators, and alumni, student housing emerged as one of four priority areas.

Each two-story townhouse apartment will house four students and includes the following amenities:

• Four private bedrooms and two bathrooms
• New furniture and appliances (including washer and dryer, dishwasher, full-
size refrigerator, and sink disposal)
• Granite countertops
• 37” digital flat screen TV in living room
• Ethernet in living room
• Free WiFi and digital cable
• All utilities included
Students signed up to live in townhouses during the housing application process in February and March. All townhouses have been filled for the 2013-14 academic year.
UE has contracted with Buckingham Companies, an Indianapolis-based developer, to coordinate the construction and design phases of the project.
“We are thrilled to be a part of the University of Evansville’s team in its efforts to provide an enhanced environment for learning, living, and community,” said Brad Chambers, president and CEO of Buckingham Companies. “Our focus for this project is to assist the University of Evansville in fulfillment of its current and long-term vision for campus growth and innovation and to make the University of Evansville a first-choice educational option."
Participants in today’s groundbreaking ceremony included UE’s Larry Kremer, chairman of the Board of Trustees; Thomas A. Kazee, president; Jeff Wolf, vice president for fiscal affairs and administration; Dana Clayton, vice president for student affairs and dean of students; Tyler Best, president of the Resident Students Association and a religion and political science major from Elizabeth, Indiana; Melanie Bacaling, member of the Student Housing Committee and a music performance and psychology major from Gurnee, Illinois; Brad Chambers, president and CEO of Buckingham Companies; and Jeff Beidl, development manager with Buckingham Companies.

Read more here: http://www.insideindianabusiness.com/newsitem.asp?ID=58473

Financing Ideas for Investment Properties

Never mind what those TV get-rich-quick infomercials would have us believe: building long-term wealth requires focus and patience. Patience, because a steady growth is a more reliable strategy than flashier single investment ‘wins’ — and focus, because opportunities slip past when daily demands soak up all our attention.

For financially secure individuals, current real estate trends deserve some attention. Right now we have an environment that may be unique in our lifetimes — one that calls for seriously considering the long-term potential investment properties offer. If you agree that investment properties in our area are worth investigating further, you will discover multiple financing alternatives:

· Finding a mortgage for local investment properties is the choice most people think of first. However, since the lending market is still in recovery mode, it may be a while before most down payment requirements drop below 20%-30%

· By setting up a self-directed IRA, you may be able to make investments through your existing savings. Such investments come out of your IRA, and the profits generated remain there and grow tax-free until you retire. There are limitations to this method of financing: don’t rely on this route until you have sought the advice of a qualified financial advisor or your tax attorney.

· For anyone 62 or older, an idea that is not often considered is the reverse mortgage. The object is to allow you to access equity from the property you currently own without having to sell it. Unlike a regular mortgage, the equity released need not be repaid until the mortgaged property is sold or the borrower dies; but it may be repaid with the interest accrued without penalty at any time.

To be sure this or any of the other financing paths work to your advantage, you’ll need a sharp pencil — and guidance from a reliable licensed financial counselor. If you’ve already been thinking that the time is right to start or grow your investment portfolio through the purchase of real estate, contact me for hot leads on some of today’s best investment properties in Evansville and the surrounding area. You can reach me on my cell phone 812-499-9234 or email Rolando@RolandoTrentini.com

Time for Homeowners to Protect Property Values

The first day of spring falls on the 20^th—making Wednesday the day many homeowners start planning their ritual seasonal maintenance. Spring is also the traditional launch of the busy season in real estate, when safeguardingproperty values can become a less abstract matter.

Because water damage is Public Enemy #1, homeowner checklists should always highlight three points:

First: the Roof

As soon as March’s lion turns a bit more lamb-like, it’s time to get out the ladder to survey roof damage. Leaves, twigs or other storm debris that have clogged gutters during the weather months can allow moisture to penetrate the roofing and below, in the worst case triggering mold or rot. Look for holes or rust in the flashings or metal seals around roof joints, chimneys, skylights or any other structures that penetrate the roof.

Second: Down Under

Now it’s time to go down. While spring rains are still falling, put fresh batteries in your flashlight and head to the furthest reaches of basement or underneath the house to check for puddles. Even when it’s raining outside, your home’s foundation should remain dry. When it comes time to sell, homes’ property values are seriously affected by water damage, some of which might not appear upstairs until later. If you see signs of trouble, it’s time to call an expert.

Third: the Exit Routes

That is— the drains. Backed-up plumbing is a nuisance you can avoid if you clean all the drains two or three times a year. Don’t forget the garbage disposal, either. My trick is to pour in equal parts salt, baking soda and vinegar, followed 30 seconds later by two quarts of boiling water. Then give the mixture a chance to work overnight before running water again.

With the sales market poised for spring action, the protection careful homeowners have given to their ownproperty values will make a material difference. But you don’t have to be selling your home for this time of year to trigger the maintenance efforts your property may need. Got a property-related question? Give me a call! You can reach me on my cell phone 812-499-9234 or email Rolando@RolandoTrentini.com

Kiplinger: Housing Recovery Firmly Underway

Prices are rising and inventories are falling in markets throughout the United States, which has led financial reporting and forecasting firm Kiplinger to declare the housing recovery “firmly” in motion. Moreover, the company says housing will help carry the overall economy at a time when U.S. exports are decreasing, says Karen Mracek, a Kiplinger editor and real estate analyst.

“The biggest reason we think we’re on firm ground is that we’re seeing every indicator on the way up,” Mracek says. “As with the overall economy, it’s kind of hard to call the bottom or the pivot point. But we’re seeing a range of indicators that suggest pretty solid growth going forward.”

In addition to home values and supply, positive indicators include the number of multiple-bid situations, new-home construction, and credit availability, she says. Solid improvements in these fundamentals will lead to formation of more new households and will also help more borrowers come out from underwater — and trade up to a new home. They’ll also create new jobs in real estate and construction, Mracek explains.

The recent gains made in housing have some concerned that real estate could be entering another bubble market, but Mracek disagrees with that assessment. “There might be [a bubble] in some concentrated markets,” she says. “But I don’t think it will be a bubble that’s as widespread and disastrous as the one that happened in the last decade.”

Improvements have been — and will continue to be — uneven. The turnaround will probably be slower in metro areas in Florida and the Midwest.

Nationally, Mracek says the current housing recovery is real and sustainable, but she also acknowledges that the rise in home values and decline in inventories won’t maintain their current pace.

“We see prices leveling out a bit more [in the future] from the late jumps in 2012,” she says. “There are still foreclosures for the banks to work through. As prices improve, you’re going to see banks get rid of REOs.”

Source: http://realtormag.realtor.org/daily-news/2013/03/12/kiplinger-housing-recovery-firmly-underway

The Most Important Part of Curb Appeal

“Curb appeal” is an instantly understandable byword: one every home seller hears. You can see for yourself how Evansville property listings that feature sparkling exterior shots with superior ‘curb appeal’ instantly draw your attention — and often, higher offers.

Hearing the phrase makes you picture potential buyers standing at the curb, viewing your property. Yet the most important part of ‘curb appeal’ is the second word, not the first. “Appeal” should be an active concept: one that’s about reaching out, roping potential buyers in. Successful sellers create appeal by making every part of a home’s presentation — from its debut in the local property listings to final inspection and closing — as actively appealing as possible. It’s a frame of mind that brings results.

“Nice idea,” you might be thinking; “but how do I put it into action?”

Try viewing today’s property listings from a buyer’s perspective: notice how a mish-mosh of dark or bright colors can make rooms look detached from one another. A home’s ‘flow’ is important, but you can’t see that from the property listings. But you can work to neutralize your home’s color scheme. When your selection of wall colors makes a coherent whole, your home looks like an appealing place instead of a collection of disjointed rooms.

It won’t matter how well your home fares in the local property listings if visitors are greeted with strong pet or any other blend of objectionable odors. Strong cooking aromas are right up there with cigarette smells to top off the quickest turnoffs to prospective buyers. In doubt? Ask a friend for their honest opinion.

A clean, clutter-free home adds appeal to any property, and is especially beneficial for those with smaller rooms. A Saturday spent cleaning out the house and boxing up as many superfluous items as possible is guaranteed to pay off.

You can’t appeal to everyone — and you don’t need to. But you can set the stage for success. I offer a complimentary in-house consultation to all potential sellers, so if you’re looking to maximize your home’s selling price, call me today to chat and arrange that meeting! You can reach me on my cell phone 812-499-9234 or email Rolando@RolandoTrentini.com

Homes for Sale Price Rises Highest in 7 Years

When real estate occupies most of your day (as it certainly does mine), you find yourself receiving no end of information. Some summarize points of view that are available elsewhere; some provide original information that isn’t particularly relevant to our local market.

One piece that gets more than the usual quick-scan-then-into-the-recycle-bin treatment is the HPI Data Report. It comes in once each month from the demographers at CoreLogic ^®. This group knows what they are talking about: among other things, they collect the most comprehensive property database in the U.S.

Last week was relatively quiet on the news front, so when they checked in, I was able to give their report a thorough going-over. What I found:

Holy smoke! Prices of homes for sale nationwide made the biggest year-over-year increase in seven years!

Yikes! Year-over-year, even including distressed sales, prices of homes for sale jumped by an average 9.7% That’s just a whisker short of double-digits!

Good golly! Those homes for sale price jumps were taking place everywhere — in 49 out of the 51 states (the only exceptions were Illinois and Delaware).

One more exclamation! (I’ve run out): As if the trend direction isn’t already crystal clear, this represents the 11^th consecutive monthly increase.

As we prepare for our area’s spring selling season, it’s noteworthy how much this year promises to be a notch up from even last year’s —already a noticeable improvement.

If you have a property that is a good candidate to join this spring’s complement of homes for sale, now is a good time to give me a call. Rising prices mean that the buyers are out there! You can reach me on my cell phone at 812-499-9234 or email Rolando@RolandoTrentini.com

Three Money-Saving Tips for Your Mortgage

Your mortgage: you only think about it once a month (if you’re on autopay, maybe not even that often). Why worry about it? If it ain’t broke, don’t fix it, right?

Wrong!

Like all aspects of your big-picture financial planning, keeping an eye on that mortgage can be an extra wealth-building move. I can point to three reasons why re-evaluating your mortgage could pay dividends:

Down, Down, Down…

Ok, with interest rates continually making headlines, this one might be a no-brainer. But some folks don’t realize just how attainable significant savings may be: a drop of just a single percentage point in themortgage rate can make a gigantic difference. A general rule of thumb is that if you can lower your interest rate by a percent or more, it usually makes sense to refinance. It’s certainly worth looking into.

Pay More Sooner (Build Wealth Quicker)

Nobody wants to part with more hard-earned cash than necessary, but extra money out now can wind up saving a lot of greenbacks later. Making just one extra payment a year will have you owning your home free and clear sooner – whereupon those payment dollars become yours!

Sound too painful? It needn’t. See if you can set up bi-weekly payments of half your monthly mortgage amount. You'll be making 26 payments annually: the equivalent of 13 monthly payments! Confirm with your lender that the extra payments go toward principal.

Eye That Equity

If you’ve got a PMI payment, you know that extra insurance doesn’t come cheap. So why make the extra payment a single month longer than necessary? By law, your lender is required to stop charging you PMI after you accrue 22% equity in your home. But in many cases, once you hit 20% equity, simply writing a letter to your lender will prompt them to allow you to stop paying PMI then and there.

For most of us, our home in Evansville is one of the largest investments we’ll ever make. Got a real estate question? I’m here all the time to supply you with friendly help and advice! You can reach me on my cell phone 812-499-9234 or by email Rolando@RolandoTrentini.com