Indianapolis Foreclosures

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

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 

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...

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

Inside Indiana Business' Gery Dick served as the Master of Ceromonies discussing the state of the Real Estate Market. You can read the entire press release detailing projections for 2009 Indianapolis Real Estate market by clicking here.  Below are a few snip-its of the press release: 

INDIANAPOLIS – While the U.S. economy faced major challenges in 2008, the Indianapolis real estate market maintained a strong position in the Midwest, resulting from the area’s population growth and relatively high employment levels.

Residential Market

Like the rest of the country, the Indianapolis-area residential market faced challenges resulting from the mortgage crisis, but Indianapolis fared much better than other cities that have seen much more drastic changes.  While all of the decreases may seem to be bad news, local Realtors see signs that the market is on its way to correcting itself by projecting that existing homes will reach an ideal six-month supply in late 2009. This is expected to lead to more balanced supply and demand and result in stabilization in home prices.

Other projections for 2009 include:

• A return to sales levels seen before the 2005/2006 residential sales spike: selling 28,000 homes in Central Indiana.

• The region will remain on the list of most affordable areas for the foreseeable future.

A lot of people are breathing a sigh of relief right now - Homes for Sale in Indianapolis are a great value. Indianapolis Mortgage Rates are at an all time low as well as the government memorandum to stop foreclosures for a period of time, including Indiana Foreclosure, and with Mortgage companies dropping their rates, this is giving people a chance to stay out of foreclosure and less homes becoming bank owned homes and giving everyone the opportunity to have a piece of the American Dream.

I was at the Carmel Indiana chamber meeting today and someone asked me, "How is Carmel Real Estate" these days? I always love it when I get this question because people are usually surprised by my response. Although we continue to hear about the increase in bank owned homes and Indiana foreclosures, Hamilton County Indiana is still a strong market and considered more affordable than other parts of the country.

It's fun to talk to candidates coming in for job interview and hear them say, "someone told me I should live in Carmel", or "I hear Carmel schools are one of the best in the area". Then after their tour or visit, they usually always express how pleased they are with how much home they can get for their money and how " we really liked what we saw"!

Since my office is located in Carmel and our office sells more homes in Carmel than other real estate companies, and many of our corporate relocation clients are located in Hamilton County, I get the pleasure of helping introduce candidates and people who have accepted the job to relocate to Indiana to Carmel, among other great surrounding areas. It's one of my favorite aspects of my job!

If you're interested in learning more about Hamilton County Indiana, or Carmel, check out our online area guide and have fun navigating.

http://www.sunraydirect.com/Indianapolis/C21Scheetz.htm

Bank Owned Homes Indianapolis is a popular Google search these days.  Why is that?  Well, because they represent a great opportunity for income producing property.  What do you suppose people do when the bank forecloses on their home?  They don't buy another one - they rent.  As a result, Indianapolis real estate represents great potential for the investor who wants rental properties.

There are hundreds of homes in Indianapolis that might be right for your situation and all you need to do is find them.  You can start your search at www.sellwithsheets.com or email me to request specific information about how to get started.  For information on Indianapolis mortgage rates and how they apply to investment properties, click here.

Over time, Indiana real estate is very stable.  Recent blips aside, homes appreciate 2%-3% annually and when there is a downturn in the market it is not like the horror stories you hear about in Florida or California. Take advantage of this time in the market and check into some of the great deals that are out there.

I currently have a couple of buyers looking for a bargain in Zionsville real estate.  There are several opportunities out there, at various price ranges.  The news seems to give us heartburn as we hear about all the Indiana Homes for Sale and Indiana foreclosure makes headlines.  A home in the right condition at the right price still sells!  Sellers should take a good look at their competition and see what is going on with competing Indiana home value so they price theirs accordingly.  Be realistic!  Old wall paper is old wall paper...no matter how expensive it was 15 years ago.  In 2008, I have sold more than one home is less than a week, the sellers were thrilled and so were the buyers.  So what are you waiting for?  Get rid of the old wallpaper!  Give your home a good clean and make sure the windows are clean to capture as much light as possible on these winter days.  Thin out your closets and consider some new knobs on your kitchen cabinets...small details make a world of difference.  As a buyer, keep in mind not only are there deals in Indiana New Home Construction but also resale.  Today's successful resale seller needs to work a little harder than a few years ago...so does their agent!  Professional pictures, outstanding sales literature, and a sophisticated internet presence make a tremendous difference.  I also send my sellers over to a new construction neighborhood to take a look at current trends...it helps them understand where they stack up, especially since Indiana home value is the topic of so many news commentaries and articles.  A little of preventative maintenance and updating will help protect your home value.   So, partner with a good agent and GET IT SOLD!