While their highly informative first-time homebuyer seminars have remained fairly steady over the last several years, Peoples Bank hasn’t held a construction loan seminar for quite some time.
“They were definitely popular years ago,” Peoples Bank Assistant Vice President-Mortgage Loan Officer Jeremy Gorelick said. “I’ve been in this industry for ten years now, and it’s been particularly crazy over the last six months. There are a lot of positives in the housing industry right now, and the majority of phone calls we’re receiving at the office have to do with financing new construction. It’s a big switch from the last few years when first-time buyers and mortgage pre-approvals were pretty much what we were seeing.”
Currently the president of the St. John Chamber of Commerce, Gorelick partnered with Nick Georgiou of G&K Development to provide the builder’s perspective in this year’s first construction loan seminar.
“Each construction loan is unique because each builder has their own approach, but you get to the finish line in the same fashion,” Gorelick explained. “There are homes going up everywhere you look, in my neighborhood alone there are three homes under construction right on my block and another three just around the corner. When I was looking to get some builders involved with us, I contacted Nick. He’s the past president of the St. John Chamber so I knew he had done some seminars like this in the past.”
“We were one of the original builders in Lake Hills and have been involved in all three phases. Over the years, we offered a free home building seminar in our offices to help people understand all the steps of building a new home as well as the advantages of building in Indiana,” Georgiou said. “Right now, we’re completing our seventh home Lake Hills and looking forward to starting our next presold there. Lake Hills remained a pretty strong community over the last several years, and just recently sold out - the final group of lots was purchased from the developer.”
“There are a lot of people out there who just want a brand new home,” Gorelick said. “Whether they simply believe new is better or they’re not very handy and don’t want to deal with any of the issues that can come up with an older home, they are willing to pay a little more now for new construction over an existing home and potentially save money in the long run.”
Because both Gorelick and Georgiou believe it is so imperative for people building a home to understand all of the decisions that need to be made, they look forward to sharing the knowledge they’ve gained from years of experience in the industry.
“When people understand what’s going on with the financing and how the draws work, they can avoid problems down the road,” Gorelick added. “I’ve dealt with clients who found they had overspent by $50,000 on add-ons and upgrades 30 days before their home was to be complete. Another client spent $7,000 more than the construction loan choosing higher cabinets and different flooring. Communication throughout the entire process of building a home is so important. When builders form a relationship with their clients like Nick does over the 6-8 month period from start to finish, things go the smoothest.”
The next Peoples Bank construction loan seminar in partnership with Dave Katona of Katona Builders will be April 30 (219.853.7500). G&K Development’s spring home building seminar is April 13 (219.365.6846)
Pillars of the Community:
RE/MAX of Indiana recently held their annual Awards Celebration to honor the state’s top real estate agents and brokers. As part of the presentations, RE/MAX Regional Director/Executive Vice President Dave Linger recognized several associates from RE/MAX Affiliates in Valparaiso for outstanding sales achievements in 2012.
Honors included: Sagamore Club - Matt Evans, Olga Petryszyn and Betty Richmond, 100% Club - Katie Phillips, Jim Powell and Rick Lahey, Executive Club - Martha Brubaker, Laura Ross and David Whitehead. Betty Richmond and Matt Evans were recognized in the Top 100 Residential Associates, and Olga Petryszyn was recognized in the Top 50 Team Leaders.
In addition, Matt Evans, Katie Phillips, Jim Powell and David Whitehead were Specialty Award recipients, recognized as 25 in 25 Associates for increasing their business by 25 percent in category units, volume and commission from 2011.
The RE/MAX Affiliates of Valparaiso office was also recognized for the 25 in 25 Office Specialty Award. Just five offices out of 75 independently owned and operated Indiana RE/MAX offices achieved this level.
“Achieving any RE/MAX award level is a great honor,” Linger said. “It takes a lot of hard work and a commitment to customer service throughout the year.”
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