Type: Traditional

Age: Built in 1992 Location:

Near 146th Street and Spring Mill Road.

Neighborhood: Springmill Pond is a custom home community with mature trees and larger lots with a community pool, playground, tennis and basketball courts.

Square footage: 3815 including 971 in the finished basement

Rooms: This four-bedroom home has a two-story entry, main floor office, formal living and dining rooms, family room with gas fireplace, built-in bookshelves, and spacious kitchen with center island, planning desk, stainless appliances and hardwoods. Upstairs offers four bedrooms plus a bonus room. There is also a finished basement with recreation room and plenty of storage. The exterior has a three-car garage, screened porch, fenced backyard and mature trees.

Strengths: The seller has priced this home very aggressively and it is a great value for the neighborhood. Of all the active listings in Springmill Pond, this is currently priced as the least expensive. There are large trees and ponds throughout the neighborhood.

Challenges: There is not a full basement. Some comparable listings have solid surface kitchen counter tops and this home does not.

WHAT’S IT WORTH? $329,900

Type:  Traditional

Age:  Built in 1998

Location:  Near 131^st Street and Hazel Dell Parkway

Neighborhood:  Brooks Landing at Prairie View is an exclusive neighborhood adjacent to Prairie View Golf Course and the White River and offers a clubhouse, community pool and tennis courts.

Square footage:  This home has 4996 square feet including 1338 in the finished basement.

Rooms:  This four-bedroom four-and-a-half bath home has a gourmet kitchen with granite counter tops, a tumbled stone backsplash and custom cherry cabinets, a main floor office, sunroom, a basement with full bath, fireplace, theater area and exercise room and a three-car side-load garage.

Strengths:  This home is on a large wooded cul-de-sac lot with a park-like setting that backs up to the White River.  There are many upgrades including a nice trim package, crown molding throughout, hardwoods, new front door and fresh exterior paint.  It is surrounded by more expensive homes. 

Challenges:  Some buyers may prefer a more open kitchen and great room combination.  Storage space is somewhat limited.

WHAT’S IT WORTH?    $575,000

Tougher mortgage lender requirements and market conditions over the last year has changed the landscape of real estate.

A real estate short sale can take time, but can provide a good value to the patient buyer.

A short sale is one where the owner is not able to make up the difference financially between what a property will sell for after expenses and what is owed to the bank(s).  Banks will approve such a sale and take a financial loss now if the value offered is reasonable for today’s market in order to prevent future losses due to delinquent payments and costly foreclosure proceedings.  The seller must have a credible hardship.  The buyer must have patience.  Due to new guidelines, bank response times will be improving.

Banks have become tougher on loans. 

The good news is that loans banks are approving now will have a lower failure rate compared to just two years ago.  The banks have insulated the appraisal process, increased buyer credit rating requirements, and have been downright picky on stipulations that were overlooked in the past.  Money is still available for people to purchase a home, though not as many.  The byproduct of banking loan restrictions has been a robust demand for single family home rentals.  The buyers that are out of the market to purchase due to a blemish on the credit report still want a home are willing rent for a year or two.  Keep in mind with the new property tax laws, rental home tax rates (2% tax cap max.) can be double that of a neighboring home that is owner occupied.  The rental rate may trend up due to this extra cost.

As a real estate professional, I’ve opened up a toolbox of different strategies to accomplish the goal of buyers and sellers.  We have negotiated a sale with a bank while they fixed a foreclosed home, worked out a sale with a one year closing date, strategized with options on properties,  bought property with a personal retirement account fund, and saved years of seller’s financial hardship by negotiating short sales.  Due to the unusual market provided this past year, I feel more even more educated to be able to provide buyers and sellers valuable insight gleaned through our experiences.

Type:  Ranch with Bonus Room

Age:   Built in 2001

Location:   Near 156^th Street and Springmill Road             

Neighborhood:   Mulberry Farms is a quiet community with a large central pond and playground.

Square footage:  1728

Rooms:   This three-bedroom home has two full baths, a large great room with vaulted ceilings, kitchen with new stainless appliances, main floor master suite and upstairs bonus room. 

Strengths:  This home has updated attractive décor and sits on nearly half an acre.  Many other ranch style homes in Westfield are older and more dated compared to this newer, more modern home. 

Challenges:  This home backs up to 156^th Street but the large lot and trees help to create a barrier.  

WHAT’S IT WORTH?    $180,000

Type:  Luxury Home

Age:   Built in 2001

Location:   Near 106^th and Towne Road

Neighborhood:   Windermere is a premier neighborhood with luxury homes, large lots and mature trees.

Square footage:  9275 including 3904 square feet in the finished basement

Rooms:   This five-bedroom home has a gourmet kitchen overlooking the hearth room, impressive great room, main floor library, master suite with spa-like master bath, six full baths, two half baths, and a lower level with wet bar, wine cellar and state of the art theater room.

Strengths:  This home has all the bells and whistles and boasts top of the line features.  It is located on a large lot overlooking a plush golf course.  If history repeats itself, this home will result in a successful sale since it has been sold twice in the last ten years. 

Challenges:  The price range of this home will limit the amount of potential buyers.  According to the Metropolitan Indianapolis Board of Realtors, there is currently over a year of inventory in this price range in Carmel. 

WHAT’S IT WORTH?    $1,600,000

Type:  Ranch

Age:   Built in 1997 

Location:   Near Carmel Drive and Guilford Road 

Neighborhood:   Carmel Station 

Square footage:  2023 including 867 in the finished basement 

Rooms:   This three-bedroom home has a split floor plan with modern décor, great room with gas fireplace and built-ins, laminate flooring throughout the main level, finished basement with wet bar and versatile office area, and two-car garage.  

Strengths:  The ranch style home appeals to buyers looking for a main floor living space.  This home is located right in the heart of Carmel just minutes from the Monon Trail and the new Palladium opening in 2011. This is one of two homes on the market in Carmel between $150,000-200,000 built in the last 20 years with a basement. 

Challenges:  The 40 foot wide lot may feel small to those wanting a large private yard, however, there is very little yard maintenance involved.

WHAT’S IT WORTH?    $170,000