Bank Owned Homes

I have had the opportunity to help clients with different avenues of investment opportunities.  You might want to buy an investment properties Indianapolis and renovate it and put it back on the market to sell for full retail.  Another idea is to buy Indianapolis foreclosures and renovate it and keep it as a rental.  Also, I am helping investors that might be at the end of holding rentals and need to liquidate.  Whatever you need I can help.  I have many listings under $20,000.  Please contact me at lphillips@c21scheetz.com



437 N. Bradley
Indianapolis, IN  46201
$9,900

 Did you know that Carmel Indiana was named one of the best city's to live by Money Magazine, and American City Business Journal.  Who says it has to be expensive to live in Carmel Indiana? There are wonderful, affordable Carmel Homes for sale! Here's a quick sneak peak at just a few homes under $199,000.  If you'd like to do your own search for Carmel Homes for sale, or Hamilton County Homes for Sale, click here


 

Carmel Homes For Sale Under $199,000

Now this is what I call a jewel! It's all updated inside, Carmel Schools, low taxes! What more would you want? 2994 Weatherstone Dr $184,900 Click here for more photos

WOW! Bank Owned Homes in Carmel are a real catch, and this is one of them! Get it while you can. 9672 Troon Ct $184,900 Click here for more photos

Can you believe this one? It's nearly the White Picket Fence home you used to dream about.  2979 Brooks Bend Dr  $179,900  Click here for more photos

Don't forget about Condo Living In Carmel! In the heart of it all are some amazing Condos like this one. 945 Rosalind Pl $184,995 Click here for a virtual tour

Jason Engle

 
Assistant Sales Manager

Indiana Licensed Realtor

Illinois Licensed Realtor
CENTURY 21 Scheetz
270 East Carmel Drive
Carmel, IN 46032
24/7: 317.414.6417

Office: 317.814.2101  

HoosierListingAgent.com 

It is not surprising with what is going on in today's market that Indianapolis REALTORS get many requests for Indianapolis Houses for Rent to Own.  It can be very beneficial to both seller and buyer if the terms can be agreed upon and turns into a win-win for both.  Many times prospective buyers have a year out for financing due to the tightening of the banks credit requirements for example.  Many buyers/tenants do not want to have to move again in a year and really want to find the perfect home right now.  Sellers need to get a contract to either move or stop paying for a vacant home.  With a rent to own option, or otherwise known as a lease option purchase the buyer gives the seller an amount of money known as option money.  This money goes towards the agreed upon purchase amount and is non-refundable if the buyer cannot or will not purchase the home.  This forces the buyer to have some money invested in the final outcome.  Both parties sign a purchase agreement and lease.  Both these contracts protect the buyer and seller and landlord and tenant.   If you need any more information on homes that offer this type of financing please contact me at lphillips@c21scheetz.  This great home on the east side of Indianapolis is offering this type of financing.
10825 Meadow Lake Drive
Indianapolis, IN  46229
4 beds/2.5 baths
2544 square feet
$149,950

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