Type:  Condo

Age:  Built in 2002

Location:  Near 96^th Street and Westfield Blvd.

 Neighborhood:  The Retreat is a condominium community that offers residents a clubhouse, exercise facility, business center, basketball court, outdoor pool, tennis court and private access to the Monon Trail.

Square footage: 1640 square feet

 Rooms:  This first floor end unit condo has three bedrooms, two full bathrooms, kitchen with quality cabinets and ceramic tile flooring, great room with a gas log fireplace, 9’ ceilings, neutral décor, crown molding and a two-car attached garage. 

Strengths:  The main floor end unit location is ideal for those searching for main floor living.  The community takes care of outside maintenance including snow removal, lawn care, and irrigation.  It is conveniently located with easy access to I-465. 

Challenges:  There all eleven condos for sale in the neighborhood, which puts price pressure on sellers.     

WHAT’S IT WORTH?    $165,000

There is now an opportunity to reach out to buyers anywhere in the world.  Our community borders have just opened.  Carmel and Fishers properties can be presented to qualified buyers through personal introduction in most places around the globe.  I utilize a new, structured real estate international marketing system linking the power and efficiency of worldwide professional agents who specialize in their respective areas to promote a property from our area.

The core of the concept is that your local professional has a common goal and business agreement with like-minded, United States and International agents to sell a Carmel or Fishers property.  This group of real estate agents is committed to introduce a Carmel property to their best clients.  There are more opportunities to sell a local property through a process that provides a personal introduction from a trusted advisor. 

We are able to package the city of Carmel along with the property showing our new cultural opportunities here such as the Performing Arts Center and Arts & Design District to promote the city along with the property.  There are not many places around that offer the quality of life at such a low price.  We have an incredibly inexpensive cost of living and unbelievably low property values compared to many other states and countries.   

One recent investor client from the Far East described to me that land values in her country as ten times higher than ours.  These, and many other investors are looking to purchase here for a great value.  A powerful package of the city along with the impact of relatively low property cost through a quality personal invitation opens more buyers to sell a luxury home, residential investment, or commercial property.  The process of linking outside buyers with local sellers generates increased activity in pockets where the market is soft.  More buyers is exactly what the sellers tell us we need right now.  This international system stimulates buyer activity and sales.

Type:  Traditional

Age:   Built in 2000

Location:   Near 146^th Street and Carey Rd.

Neighborhood:   Foster Estates offers a swimming pool, clubhouse and easy access to the Monon Trail and Clay Terrace.

Square footage:  5473 including 1335 in the finished basement

Rooms:   This four-bedroom home offers five-and-a-half baths, a bathroom for each bedroom, a main floor office that could be used as a fifth bedroom, two-story great room, sunroom, full finished basement with daylight windows, and three-car garage side-load garage. 

Strengths:  The owners have improved this home by adding finished living space in a beautiful new sunroom.  The kitchen is very large and modern with granite and rich cabinetry. 

Challenges:  With the new rules in financing, buyers will have to provide a larger down payment and bring more money to closing for any loan on price values above $417,000.

WHAT’S IT WORTH?    $525,000

Right here in Carmel, The O’Connor House is non-profit organization put in place to protect pregnant, single women.  The many volunteers are proud of the 37 newborn babies and mothers that have been supported since the home opened.  Currently there are five women, three toddlers, and three babies that are supported in their current home.  These women are on their own with no where else to turn for help for themselves or their other children.  The demand for help is much larger than the home where they live.  Many women are on a list waiting for the opportunity during their time of need.  This charitable organization has been pushed to expand their capability to help more women and as a direct result, a larger facility is necessary.  Driven to help more, the board of directors is collaborating on a financial grant that would provide them with substantial resources for real estate.  If awarded, the grant will be available for purchasing, building, or expanding a home to support up to twice the women.  A specific property must be identified in the proposal.  The board is considering vacant land, existing homes, and multifamily homes.  Their preference is the property in close proximity to their volunteer base and convenient for public transportation, since most of these women are employed.  If you own or know of a property that may have potential for The O’Connor House, please contact me so that we review our specifics of the real estate to see if there is a match.    

As with many non-profit organizations, the operating capital to run the home is a constant effort as it is completely funded by gifts of charity.  Your tax deductible donation to help support operating costs may be provided at www.theoconnorhouse.org. 

Type:  Ranch

Age:   Built in 1953

Location:   Near Rangeline Road and Meridian Street

Neighborhood:   Walter’s Rolling Acres

Square footage:  2776 including 1498 in the finished basement

Rooms:   This arts and crafts style home features four-bedrooms, two-and-a-half baths, a completely updated kitchen, and sunroom.  There is also a one-car attached garage as well as a two-car detached garage and side parking space. 

Strengths:  This home is located on nearly two acres with mature trees, rolling hills and evergreens.  The detached garage can also be used as a workshop and there is enough parking space for a boat or RV.  There are no covenants and restrictions for the neighborhood.

Challenges:  This home is for the person who is willing to be inconvenienced with lack of a bathroom or walk-in closet in the master suite but willing to trade that for the charm and character of an older home. 

WHAT’S IT WORTH?  $189,000

WHAT’S IT WORTH?

Type:  Ranch

Age:   Built in 1984

Location:   Near 106^th Street and Shelbourne Road

Neighborhood:   Brandywine is an established neighborhood of 30 homes with large lots, mature trees and a pond.

Square footage:  3111

Rooms:   This four bedroom ranch has a bright open floor plan with an expansive great room, living room, breakfast area and versatile upstairs loft.  The spa-like master bath offers dual vessel sinks, a walk-in tile shower and sauna.

Strengths:  Almost an acre in size, the lot comes with a fenced backyard and part ownership of the adjacent pond.  The home has been recently renovated to include modern features and stylish décor.  Nearly everything in the home is new from the roof and water heater to the kitchen cabinets and hardwoods. 

Challenges:  The home’s modern décor has a Soho loft style feel which may not appeal to every buyer. 

WHAT’S IT WORTH?    $340,000

To view a virtual tour of this home click here. 

High quality at a low price never seems to hold true, but this is reality for High End homes in Hamilton County.  If you have money to invest, have stability in your business, or provide a skill set that proves to be in high demand, I recommend that you buy a luxury home right now.  Nowhere is there better opportunity than the upper-tier homes.

Why?

Surplus Inventory.  This is found with a simple calculation determining rate of homes sold each month compared to homes active on the market.  A 6 month inventory is a great balance between seller and buyer.  Right now, depending upon location, luxury home inventory is measured in years.   In most areas there is at least 2 years and some up to 5 years of luxury home inventory.  There are great buys out there that cannot be replicated for the price.  I have never met a home builder that will start a project with a plan to lose money.  Additionally, the cost of building materials has proven to increase over time.

What will you need?

Ample cash or flexible seller financing.  Get a loan at 417K or below for the best interest rates.  Above this loan amount will require 20% down-payment and a higher interest rate.  Seller financing may be a viable option when the seller feels that you may be their only buying option or they gain a better price for the home.

How do you find a great deal?

Compare.  First, take a look at new construction properties on the market.  If the home has had a one year birthday, it is likely that the bank may be involved in the negotiations in a short sale.  There may be no further profit left for the builder, but there are many incentives for them to sell the property prior to foreclosure.  These homes are great investments since they provide modern floor plans and reduce hidden out-of-pocket expenses compared to older homes.

Be flexible in location.  There are certain areas starving for buyers and may be required to offer more land or higher amenities to compete with higher demand areas.

Work with a real estate professional educated and certified as a Luxury Home Specialist.  By working this market every day and understanding the inventory, financing alternatives, and negotiating points, a real estate broker with this experience could save you tens of thousands of dollars.  Call or email my office for target areas and more information on the luxury home market.

The recent trend of tight credit has presented opportunities for good real estate investments.  Fewer investment property buyers with less competition increases pressure on those who need to sell.  One of two ways to look at investment real estate is how much will it pay you on a monthly basis compared to your monthly expense of holding the property.  If a fixed loan requires an outlay of $1500 per month and you bring in $2000 per month in rent, you are well on your way to making a continuous solid profit.  The renter pays the full loan payment and provides some extra cash while you are building equity and depreciating the asset. 

A second way of profiting in real estate is by purchasing a property and speculating on a dramatic increase in value due to an unusually discounted price or future changes that will benefit the property.  One example of this is the HWY 31 Major Moves expansion project.  Some of the property near interchanges zoned for residential property or agriculture will undoubtedly be utilized and rezoned for commercial use due to the proximity and access to the highway.  Commercial zoning will drive a higher selling price.  Another example of improved value in Carmel would be properties near the incredible Monon Center, also known as Central Park.  With the ponds, indoor/outdoor pools, workout center, Skateboard Park, and many community events, this is an unbelievable asset that people would prefer to live by.  Higher demand in this case has improved selling prices since the announcement of the 2007 facility.

The key to a successful real estate investment is finding a good property candidate (or finding someone who can) and calculating to the best of your ability how you will profit from the risk that you are taking.  If the upside provides immediate cash flow or good potential future value, real estate can be the best investment available.  If you find a property with both, do yourself a favor and jump on it before someone else does.

Type:  Luxury Carmel Home and 6 Acre Estate

Age:   Built in 1999

Location:   Near 116^th Street and Shelborne Road

Square footage:  7171 including 1757 in the finished basement

Rooms:   This private, gated-access, five-bedroom luxury home has a main floor master with access to the pool and a large master bath with granite counter tops, walk-in shower, and heated floors.  Also on the main floor are the richly appointed office, family room, formal dining room, living room, mud room and laundry room.  The kitchen offers granite counter tops, and two custom islands.  There are four large upstairs bedrooms, and a lower level with built-ins, fireplace, billiard room, full bath, daylight windows, bar and exercise room. 

Strengths:  This home has plenty of room to roam.  It is located on six acres featuring a large barn, four-gar garage, in-ground swimming pool and gated entrance.

Challenges:  Selling a luxury property does have hurdles.  Per the Metropolitan Indianapolis Board of Realtors, only one home between $1,000,000 and $2,000,000 has sold in Carmel in the last six months, however, two are now under contract.  There are currently 52 on the market in this price range. 

WHAT’S IT WORTH?    $1,500,000

High quality at a low price never seems to hold true, but this is reality for High End homes in Hamilton County.  If you have money to invest, have stability in your business, or provide a skill set that proves to be in high demand, I recommend that you buy a luxury home right now.  Nowhere is there better opportunity than the upper-tier homes.

Why?

Surplus Inventory.  This is found with a simple calculation determining rate of homes sold each month compared to homes active on the market.  A 6 month inventory is a great balance between seller and buyer.  Right now, depending upon location, luxury home inventory is measured in years.   In most areas there is at least 2 years and some up to 5 years of luxury home inventory.  There are great buys out there that cannot be replicated for the price.  I have never met a home builder that will start a project with a plan to lose money.  Additionally, the cost of building materials has proven to increase over time.

What will you need?

Ample cash or flexible seller financing.  Get a loan at 417K or below for the best interest rates.  Above this loan amount will require 20% down-payment and a higher interest rate.  Seller financing may be a viable option when the seller feels that you may be their only buying option or they gain a better price for the home.

How do you find a great deal?

Compare.  First, take a look at new construction properties on the market.  If the home has had a one year birthday, it is likely that the bank may be involved in the negotiations in a short sale.  There may be no further profit left for the builder, but there are many incentives for them to sell the property prior to foreclosure.  These homes are great investments since they provide modern floor plans and reduce hidden out-of-pocket expenses compared to older homes.

Be flexible in location.  There are certain areas starving for buyers and may be required to offer more land or higher amenities to compete with higher demand areas.

Work with a real estate professional educated and certified as a Luxury Home Specialist.  By working this market every day and understanding the inventory, financing alternatives, and negotiating points, a real estate broker with this experience could save you tens of thousands of dollars.  Call or email my office for target areas and more information on the luxury home market.