Nov
23
Finding a Fishers Foreclosure
Posted by marchantteam under Ask a REALTOR, Buyer Information, For Buyers, For Sellers, General Information, Sellers Corner, Short Sales
Working at Keller Williams has many benefits from their focus on God to their entrepreneurial style of leadership. But, one thing I love is that the tools they provide their agents are relevant. Our latest tool is a search for Just Foreclosures in Fishers (or Carmel, Noblesville or Indianapolis). Our splash page on our Fishers Real Estate website has all four buttons for easy navigation or their is a Fishers Foreclosure tab on the left side tool bar.
There are currently 21 Fishers Foreclosures on our website ranging from $97,000 for a condo in Middleton Place to $999,000 in the Hawthornes.
Here are some things to keep in mind for foreclosure/bank owned homes:
- The owners stopped maintaining the home long before they started to miss their payments, so there will be things that will need attention from missing lights to mold.
- The bank has already discounted the price and may not take much less than it is listed for.
- The bank has far more of these types of properties than they can manage, so the wait is usually longer.
- There are usually lots of buyers “hovering” around these properties and if you do not act quickly, by the time you make your offer the listing agent will contact all those potential buyers and you most likely will find yourself in a multiple bid (best and final offer) situation.
- You more than likely will have a decent amount of equity if you can be patient and let your Realtor ® guide you through the process.
The Marchant Team is well equipped in both assisting you in the buy process or getting your short sale approved through your bank if you are needing to sell short. We know the questions to ask and we know what the answers need to be to help you get to the closing table.
We can compute the amount of equity you will have and provide vendors to assist in fixing things that you may not feel comfortable fixing on your own.
Let us know what questions you have, we are here to help.
Search homes for sale in Fishers by Neighborhood
Other Northside Blogs (Carmel, Noblesville, and Geist)
Cindy œin Indy Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775
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Sep
4
Fishers Realtor compares Short Sale to Foreclosure
Posted by marchantteam under Ask a REALTOR, For Sellers, General Information, Real Estate Terms S-Z, Short Sales
There are many people who have homes for sale in Fishers or are thinking about selling their home and know that they probably owe more than they can get for their home. This can cause a lot of sleepless nights.
In many areas, the 2009 prices have not appreciated above the 2006 prices. This means if you bought your home in 2006; you may not be able to sell it for more than what you paid. This creates negative cash flow when you add in typical seller expenses such as taxes (paid in arrears in Indiana), commissions and title work.
There are options! You may be able to sell your home “short” and preserve your credit. Banks have the option of submitting the short sale to the creditu bureau as “Paid in Full” or “Settled for less than full balance”. The problem is when you stop making payments; then your credit score will suffer. There are ways to sell short while you are making your payments.
In 2007, the U.S. Congress passed the Mortgage Debt Forgiveness Relief Act and it is now in effect through 2012. The essence is that you will not pay taxes on the debt that is forgiven if it was your principle residence.
We have a short sale or CDPE (Certified Distressed Property Expert) agent on our team. This is a workpaper she has shared with our team that might be useful to my readers.
If you are being relocated for a job or have a declining market in your neighborhood, your lender may agree to allow you to sell short rather than go into foreclosure. If you do not become delinquent on your payments, you may be able to sell short and not harm your credit scores.
This is a very important discussion that is individual specific so please let me know if you would like to talk with me or my team member to see if it might be an option for you or someone you know.
The Marchant Team is about selling real estate, but it is more about creating a win-win situation for each client we have the opportunity to work with in the Fishers Real Estate area.
Search homes for sale in Fishers by Neighborhood
Other Northside Blogs (Carmel, Noblesville, and Geist)
Cindy œin Indy Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775
Leave a Reply
Apr
18
Fishers Short Sale and Pre Foreclosure Picks
Posted by marchantteam under Fishers, For Buyers, Listings, Short Sales
Each month, I am going to highlight my top foreclosure and short sale picks for Fishers homes under $200,000. With interest rates low and many homes still on the market; it is a uniquely great time to buy. Keep in mind; these types of homes do require the patience of Job!
These are the five Fishers homes for April:
12849 Longleaf in Sterling Green is listed at $114,000 which is $84/sq ft compared to other homes on the market in that neighborhood at $105 as an average per square foot. The average for homes that have pended or sold in the last six months is right at $96/sq ft. If I look at the solds for short sales I see the prices much lower; two such homes sold for $95,000 and $103,000 recently. This homes is 1,352 sq ft with three bedrooms. It went on the market January 1st.
12924 Sweet Briar Parkway in Sweet Briar is listed at $129,900 which is $91/sq ft and compares somewhat similarily to other homes in the neighborhood. This one would only be a “deal” if you were to get it at a substantially lower price. However, there are very few ranches in this Fishers neighborhood so you would own one of the least expensive homes and benefit the most from appreciation in Sweet Briar. It is listed in “great condition” so if you want a “fixer upper” this one isn’t the one for you. But if you are looking for a home to buy to “rent”; this is a great choice.
6103 White Birch in Eller Commons is listed at $130,000 which is $84/sq ft compared to other homes that have sold in Eller Commons at over $100/sq ft. It is the “best deal” in Fishers Real Estate out there at this time at this price point. This is a 1,540 sq ft ranch with three bedrooms and a sunroom!
My last two picks are in Foxrun and Gatewood; email me at cindymarchant@comcast.net to get the scoop on those last two as well as any other homes you have interest in!
Search homes for sale in Fishers by Neighborhood
Cindy œin Indy Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775
One Response to “Fishers Short Sale and Pre Foreclosure Picks”
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Apr
14
Fishers Indiana Short Sale Success Video
Posted by marchantteam under For Buyers, General Information, Short Sales
The Fishers Real Estate market has great opportunities for First Time Home Buyers or just buyers looking for great deals. This is a video of one of our clients who wanted to share his successful experience at buying a short sale.
The MIBOR system that I use to find homes for my clients has many more options than a consumer search model has, for example I can find homes with fences, homes with islands or walk in closets, etc to help narrow the choices to the ones that best meet my clients needs and wants. One of the options I have is for “Distressed Properties” so please let me know if I can set up a specific search for bank owned or short sale homes for you!
Cindy œin Indy Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775
4 Responses to “Fishers Indiana Short Sale Success Video”
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Just found your blog through Google, and I have to say I thoroughly enjoy it.
Thank you for the info. I’m looking forward to the additional valuable information here.<a href="http://www.staelena.com/">Real Estate For Sale</a>
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That is great to hear that you enjoy the blog; hopefully we’ll get to meet sometime!
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Great success story for a first time short sale buyer. Nice video testimonial!
Cindy, this is a great idea! Such good information for Fishers Real Estate buyers. There are super deals to be had, now people can find them on your blog.