Bargains, Steals and Deals in the Carmel Real Estate market

From time to time, I comb the Carmel Real Estate Market in search of deals. I have two GREAT ones and another good one today. If you have an area of town you'd like me to research other than Carmel, let me know.

To start with, let me tell you how I find the deals. It does take some work.

My search starts with distressed properties in Carmel (53) and then I look at ones that are over $150,000 (36) and then only on the market less than 90 days (22). So I start with those 22 and then look at their assessed tax value, their history (when did they sell last, how much, how long on the market), and their location (do they back up to a traffic, etc). Once I have narrowed those to the few (6), I go in and look at the neighborhood activity and compare their pricing. It takes several hours to actually come up with the two or three that I think are the best deals.

So here they are:

1. 5275 S Woodfield Drive
2. 1267 Smokey Row
3. 10725 Downing Street

Woodfield Drive, which is bank owned, is located in the neighborhood of Woodfield at Gray and 146th. It is currently priced at 85% of the average square foot price of solds in the neighborhood. It is assessed at 85% of the value in the tax record and sold in 2006 for $85,000 more than it is currently listed for today. I guess 85 is the lucky number in this case! It is a 4,100 sq ft home with an additional 2,000 basement for $445,500.

Smokey Row, which is also bank owned, is located in Cool Creek North. It is listed at 79% of the average square foot price of solds at $88.00. It is priced at 79% of the assessed tax rate and it has not been on the market since 1991. It is a 2,700 sq ft home with an additional 1,200 basement for $234,900.

Finally, my last pick is on Downing Street. While it is not as agressively priced, I love this neighborhood because of its convenience to the 465 Interstate. It is at 106th and Gray. This one is a short sale; so be sure you have time to spare if this is the one that appeals. It is listed at 85 % of the average square foot price of solds, but it is listed right at the assessed value. It is a 2,400 sq ft home with no basement for $178,000. There isn't a ton in Carmel for this price, so could be the right house for a lot of people.

Let me know if you have questions about these properties or other that you see. I have some great tools to search for homes, including by just using your phone! As a seasoned Carmel Realtor, I invest a lot of time in finding the best deals, negotiating the best price and giving you the best service!

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Cindy "in Indy" Marchant - Carmel Real Estate Agent
Keller Williams Realty Indy Metro NE
Carmel IN Real Estate Website
317-290-7775