So many homes. So few Buyers. That is the perception and in some areas, the reality as well. When looking around at the Indianapolis Real Estate for sale, and matching that data to the current US and Indiana economies, you might think this means many buyers will get a steal when trying to buy property today. Well, that is true in some cases, but it's not the norm. There are still many sellers who are trying to improve or down-size their lifestyle, or to move into a new job or job location. These types of sales don't generally create the pressure sale that one might see when a seller cannot afford their mortgage or who is selling short of funds due to being upside down in their property.
One Indiana Real Estate Agent I know has over 30 properties that have been forclosed on. That is one agent. There are many agents with several properties in that situation, however, these are not easy purchases. They require negotiating and patience as the process moves slow. Some buyers are not suited for that as they want to move in quick and get done. In a property that is bank owned or a
short sale, the buyer should expect twice the time and paperwork to get the deal done - if can get done at all.
My point is that many buyers expect a steal today when really they should be looking for what is right for them in budget and hopefully find a bargain that fits their situation. A bargain is easier to find as there is definitely a deflated market that won't likely remain at these levels. Never mind that due to job losses, some sellers are willing to give up their perceived equity to avoid getting into a financial bind down the road due to the lost income. Prices are not currently expected to go lower so one can argue that many houses are at bargain pricing.
Then there are times that a bargain can be described as a great home at a great price in a great neighborhood. Not a steal. No pressure on the sale, but perfect for you, the buyer.
A good example is a property I recently listed. It is a home that sits near the Pyramids in NW Indianapolis. See the details below, but also note that the home is in a very nice area for walking or you can enjoy the back wooded lot and deck area. This Indianapolis home home was constructed 20 years ago and for the right buyers provides a nice place to entertain friends (enclosed deck and large outside deck as well). The MLS number is 2926262 so take a look.

This lovely 2 Bedroom / 2 bath home sits on a beautiful wooded lot. It also features an enclosed breezeway and ample open deck. The living room fireplace and bar w/sink make this home perfectly suited for entertaining and comfort. The den/TV room is complete with built-in book case. The large master suite has a sitting area, walk-in closet and a bath with full shower and skylight.
From Michigan St., Go East on 86th Street to Colby. Go Left on Bernard and angle right onto Clemson. Turn left on West Point Place Cul de Sac, home is on the right.
Enjoy the rest of the Summer and I hope you find the home of your dreams at a great price!