Bank Owned Homes

Broad Ripple is located in North section of Indianapolis in Marion County and has many Indianapolis Properties. It is a very popular place to live and play. The Village is the Center of it all featuring a strip of Bars and Restaurants making it a great night life scene. There are many bars, which we locals call the "Broad Ripple Strip" or "Ripple". Dining includes Mexican, Steak Houses, Pubs, Fast Food, BBQ, and Seafood. For the outdoor enthusiasts there is a very popular walking trail called the Monon Trail that runs right the the heart. It is a paved trail that goes from Downtown Indianapolis up through the Northern Suburbs of Indianapolis, Carmel and Westfield.

Broad Ripple Real Estate offers many Indianapolis Indiana Homes. The heart of the Real Estate exists closet to the action. Many of the home are 1-2 story bungalows ranging from 100k-200+k. Many have basements and the homes are older with a lot of character. Some of the most popular homes have been completely remodeled with new granite kitchens, stainless appliances, new baths, new or refinished hardwood floors, and new exteriors. We also represent several investors who buy the homes in foreclosure and rehab them and sell "flip" them for a profit.

Indianapolis Real Estate For Sale is our speciality and we help many people buy and sell homes in the area. If you would like to know more about the area, need help finding a home, want to know more about investing in this area, or would like to find out what your  home is worth now feel free to call me, Andrew Neal, Realtor with CENTURY 21 Scheetz The Andrew Neal Group, anytime at 317-513-7695 or visit www.DealwithNeal.com.
 

Indianapolis, Indiana Real Estate
Bank Owned Homes For Sale

Attention Investors!

Currently there are over 50 Indianapolis Area homes for sale, between the list price of $500,000 and $3,000,000 affected by disclosures. Of those, 13 are bank owned.  The balance of the properties are listed as "possible short sales".

No matter which area of Indianapolis you are interested in making a purchase, you will find bargain homes for sale.  When is a bargain not a bargain?  That is for you, and your investment plan to determine, however, if you are in the market for fabulous real estate at incredible prices...your time is here.

This week's featured bank owned homes for sale come from Carmel, Noblesville, Bargersville and McCordsville. 

Noblesville, Indiana Bank Owned Homes For Sale

BLC #2856593

6912 Carter's Grove Dr., Settler's Mill

3 bdrms, 3baths

Listed for $539,000




BLC # 2856592

6896 Carters Grove Dr

5 bdrms, 4 baths

Listed for $1,600,000





Carmel, Indiana Bank Owned Home For Sale

BLC #2948367

1514 Prestwick CI, Crooked Stick

5 bdrms, 5 baths

Listed for $1,299,000



McCordsville, Indiana Bank Owned Home For Sale


 BLC #2935687

12955 Water Ridge

4 bdrms, 4 baths

Listed for $713,065





Bargersville, Indiana Bank Owned Home For Sale 


BLC #2943230

4181 WHITETAIL WOODS DR

6 bdrms, 7 baths

Listed for $1,155,000






My interest is to work with you as your agent to help you make an informed purchase decision in the Indianapolis Real Estate Market.  For more information about these properties or any foreclosed or short sale property, please contact me.

CENTURY 21 Scheetz had an amazing First Quarter meeting a week or so ago. I can't believe I'm just now writing about it! The good news is this, it's busy! Real Estate is movin' and groovin' in our area!

Tracy Hutton, Vice President at CENTURY 21 Scheetz tell's us what's happening in the market, and what the Growing Opportunities Meeting is all about.  

A lot of information was shared during this event. Many experts from within the CENTURY 21 Scheetz organization, as well as special speakers outside of the organization who joined us for this event.  As you can see from this next video the energy was fantastic, people engaged, and a LOT of discussion taking place


Discussions were taking place throughout the room about Indianapolis homes for sale. One of the tables that was always overflowing with participants was the discussion about Bank Owned Homes in Indianapolis, better known as foreclosures.  Agents were taught the best way to work with the banks when someone is in a short sale situation, as well as the best way to help your client avoid foreclosures. It was fabulous!

The collage of photos below gives you a good idea of the energy in the room, and the fun company culture at CENTURY 21 Scheetz. 

We gave away $2,221.00!  That's right! Open houses, lots of them, were held during the month of April.  Each time an agent held an open house their name was put into the drawing for the grand prize.  Andrew Neal, Carmel Office, won the big bucks!  Richard Lampe, Manager of the Carmel Office, said, "I'm so happy for Andrew, he worked so hard during the month of April holding open houses each weekend, he's well deserving". Way to go Andrew!



For more information on how you can be a part of this fantastic company, contact Patty Bender at pbender@c21scheetz.com

I have friends that have been thinking about selling their Noblesville homes for sale for the past year.  They have a huge neighborhood with many different choices of homes, there is still some new construction and there has been some foreclosures also.  They bought this home when they first got married but now have outgrown it.  Well, two neighbors have been able to sell their Noblesville Indiana real estate in less than 30 days.  In fact one neighbor sold their home in less than a week.  So tomorrow I am going to go walk through her home and see what she needs to do to put it on the market.  Thankfully, it is time to get off the fence...

You say: "I'm ready to sell my house, but I'm not sure how to compete with all those bank owned homes Indianapolis is plagued with. HELP!"
 

Realtor to the Rescue!

I respond: "Sure, you're ready to move, but is your house?"

1. The first step in getting your home sold is to PRICE IT RIGHT. If you're set on selling your home for what it's worth - GOOD FOR YOU. Listen to your Realtor and what they tell you about home values in your area and what the researched numbers mean. Take note when they advise you one way or another. Just like you wouldn't question your doctor why a high temperature means you have a fever... your Realtor is a professional who knows the facts.


2. The second step in getting your home sold in a market where buyers are king is to stand above the rest. To do that, you must give the buyers exactly what they want, AND MORE! Homes for sale in Indiana are all shapes and sizes, but the #1 thing buyers want is a DEAL. If you're not willing to lower your price to stick out, make your home physically STICK OUT. How?
          - Get an inspection done before you list your home. This will reveal to you what is wrong with your home and give you the opportunity to fix it before someone else asks you to. Having a home that has few problems will say to the buyer, "I take care of this home. You are lucky to get a chance to live here."
          - Clean your home. By this, I mean CLEAN. Your home must look and feel like a hotel or magazine. So many sellers these days have to desert the property and leave a lot of elbow-work for the buyers that makes the buyers hesitant to write an offer. This cleaning also includes decluttering, scrubbing the kitchen sink, rearranging furniture, and completely staging the home for the maximum WOW factor when a buyer enters your home. Staging may be  inconvenient, but research has proven that it sells your home more quickly so you can move forward to the next chapter in life.

Which home would YOU rather buy?

So many sellers these days get wrapped up in the news and feel trapped by the market. I firmly believe that to sell your home, you must not only have a "Let's GO!" attitude, but your home must stand out above the competition to win the best buyer.

For more tips on staging, pricing, and how to sell your home, contact Katie Bogan of Century 21 Scheetz.
 

"And now in the main ring... IRVINGTON vs. DOWNTOWN INDY!!"

Last week, I took a client out to see a home on N. Campbell Street, in beautiful Historic Irvington. He and his wife are looking to purchase their perfect home and turn their existing home into a nice rental.
 

As we walked around the home, we talked about the comparison of Irvington Homes versus Indianapolis Historic Homes Downtown Indy. We compared Irvington's classic brick exterior versus Historic Downtown Indianapolis' multi-colored wood sidings, as well as the extent of updates and amenities, as Downtown Indy continues to lead the pack, adding luxury extras often found in Carmel Indiana real estate. 


The home prices are very similar, though Irvington tends to be less in most cases. Excluding bank owned homes for sale, these home prices are typically above the $100,000's, sometimes soaring above the $200,000's and beyond. I'm positive this is due to the wonderful things to do nearby, most within walking distance. Restaurants, book stores, clothing stores, pet boutiques, the library, walking trails, and more are found each in Historic Irvington and Downtown Indy.


If you're checking out Downtown Indy as your new neighborhood, don't forget to include Historic Irvington in your search. Only 10 minutes away, it's a local, comparable secret, often without the pricetag of Downtown!
 

So who's the winner of Irvington vs. Downtown Indy?

Only you can tell, once you start touring the homes yourself and seeing what fits your lifestyle!
 

Bank owned homes have flooded the market and are getting a lot of attention lately; especially bank owned homes in Indiana. The Indiana market did not have all the inflated pricing of the past few years, and therefore our fall in prices has not been as great. This may mean that an investor who buys an Indiana bank owned home has less at risk than in a market that may still have more to come down.

Many banks are busy with properties (both residential and commercial) that once provided positive cash flow but are now creating a drain against their earnings. They have expenses for lawn care, rekeying the property, winterizing, insurance, possibly fixing damage that may have occurred, as well as costs to transfer ownership of the property to a new owner (real estate commissions, legal fees and more!). This does not count the sudden loss of income they once made.

For smart buyers, finding the right property can mean future equity dollars in your pocket. Initially the property can look a little rough. The flooring may need work and carpets may need replaced let alone damage to doors and walls that have occurred for a variety of reasons. Most of this is cosmetic and usually, on newer properties, the bones of the home are still very good.  Since the banks are motivated to only sell the property to recover their loan, they may be ready to deal. Again, by moving a property away from their R.E.O. department, they are trimming future expenses. Don’t think, however, that the bank will be in a rush to dump these properties. There are rules they must play by and, without getting into the nitty-gritty, understand they can lose much more by NOT playing by them. It can be a catch 22 for banks. They must decide what losses to take on foreclosed property versus trying to maintaining a strong capital position by not having these write-downs. 

If a property had some type of government loan guarantee, a bank may appear slow in moving. To secure their claim and get paid back for the risk and loss, they have to follow guidelines when selling the property. These restrictions are placed on them by both the government and the insurer to whom they are filing a claim. But don’t be dissuaded, they do not want to have properties on their books costing them money. These assets are considered non-performing assets and the more they have of these types of loans, the worse they perform as an institution. The result of having a few of these might be higher premiums for their FDIC insurance and a critical review during their bank examination. Having a larger percentage can hurt stock performance and therefore erode the capital value of the bank along with all the aforementioned problems. 

A smart and patient investor can find a good property amongst the many out there and, if diligent, can begin creating a gain from the pain that now exists in so many parts of our country. Is it time for you to put your capital to work by seeing what is available as a result of Indiana foreclosures?    If so, call me and we’ll begin seeing what makes the most sense for you.

Contributed by, Mark Mills

Are things improving in the Indianapolis real estate market? Well, that might be a stretch to prove; but in some areas of the local real estate market, things are not declining as quickly as they were last year. Since being "less bad" is the first step toward improvement, I'm slightly encouraged.  

Here’s why. Financial housing data is historical in nature, usually data from a month or two in the past. This important look back assists economists and others in determining trends. For quite some time now, news has grown more and more negative with bright spots being little to none. This downward trend will likely continue nationally but maybe some signs of improvement are about to appear. Some Indianapolis Real Estate Professionals are seeing a nice pick-up in activity and sales, exceeding last year's dismal results. In fact, one successful agent mentioned having already hit 50% of his entire 2008 production in real estate transaction closings. Since his clientele is mostly residential, signs of a local upturn are there. 

Our capital markets and real estate markets operate on the same free market principals. Buyers move prices down when there are too few of them and too many sellers. Sellers move prices up when homes are limited for throngs of buyers. With so many Indianapolis homes for sale and more sweeping into the market due to foreclosures, home prices have been finding pressure and have moved down. This will continue until the home inventory shrinks. The stimulus package coming out of Washington may delay recovery by prolonging the crisis. It slows or stops the shake-out that simply must occur before buyers become comfortable to move back in. Interference to an open market can cause great disruption and we are seeing that evidence now on Wall Street in other markets.  

Nonetheless, if the patient is not killed by the medicine coming from the Obama administration, then maybe we do have better times ahead. Maybe. My fingers are crossed.

Please visit my site  Contributed by, Mark Mills


Email Mark with any questions you might have on the market.

So, what does a graph like this mean? Well, for one, there are a lot of foreclosed or bank owned homes in Indianapolis / Marion County. The above graph only depicts the surrounding counties in the Indianapolis market area. This info is taken from realtytrac.com where you can see more counties.

The number of bank owned homes in Indianapolis, or Indianapolis Foreclosures, is actually down right now because of the government moratorium to stop foreclosures for a few months and let people catch up. Will this work? Will people “catch up”? There is plenty of controversy out there on this subject. Some feel that by allowing people the opportunity to catch up on their payments will save them from foreclosure, others believe that giving a few months reprieve on paying a mortgage payment will just put those already hurting further behind and we are just delaying the inevitable. What do you think?  

To see all the bank owned homes in the Indianapolis area you can click here!  1) search the counties you desire, 2) price and home criteria, 3) click on FORECLOSURES


Contributed by, Patty Bender

In talking about the current market trends in Hamilton County, Indiana and the north side of Indianapolis with a client it dawned on him that this was a great time to look for a bump up house. He has been in his first house for about two years but is looking at this opportunity to get more amenities in his next home. 

With the inventory of Banked owned homes, Fishers homes for sale and Geist homes for sale with the extra amenties he wants why would he not jump up? He decided that he might not get the most resale out of his current home but for the added equity for his next house it made great sense to start looking now. 

The feeling in the air is that prices around here cannot go that much lower..so you better get in on the action of moving forward.  To find all the BUMP UP homes available, start your search right here.  
You can also contact me, Lisa Phillips by phone or email
Phone-317-219-9277 or lphillips@c21scheetz.com let's chat!