A few days ago, I listed five of the Top 10 Short Sale Deals for Homes in Fishers, Indiana. It is a very popular topic in real estate, slated as the full day Monday session for the Indiana Association of Realtors Convention downtown next week! My Fishers Real Estate team has three short sale listings that require the patience of Job. We have three buyers as well that are trying to purchase a short sale listing. It is hard for a buyer because they typically have to wait until the bank has approved the sale. There is a lot of required paperwork in a short sale such as a market analysis, a hardship package, and updated financials from the seller that must be in and recorded and then reviewed by the negotiator of the bank. It can easily take up to 45 days "just" to know if you have an accepted offer and then another 30 to close.
So if you are a Fishers Real Estate buyer that can be patient and can wait or if you are an investor looking for a real estate deal; then short sales are a viable option for you.
Here are the remaining five of my Top 10 List for deals on Fishers Homes from $300,000 to $650,000:
- 9825 Covington Blvd with over 2,700 sq ft and an additional 1,300 sq ft basement. It sold for $310,000 in 2006 and is currently priced at $299,900. It is one to watch.
- 12119 Landwood Drive in Gray Eagle in Fishers is listed for $329,900 and is assessed at $372,000 and sold for $359,000 in April of 2007. It is nearly 3,000 sq ft with a sunroom, finished 1,500 sq ft basement and three car garage.
- 13290 Silverstone is also in Gray Eagle on hole #16 for those who love to golf. It is listed at $365,000 and is assessed at $374,000 and has been on the market since August where it began at $400,000. Gray Eagle is a neighborhood that has seen its share of decline in average prices; from 2006 to 2008, the decline was 8%.
- 11101 Wintercove Way just off of Allisonville is in a very popular neighborhood. This is a rare Arts and Crafts home with 5 bedrooms and a finished basement with a home theatre. It began its listing about a year ago at $574,000 and is now at $449,900.
- 10728 Harbor Bay is our last of the Top 10 Deals in Fishers Real Estate! This home is located in Canal Place near Geist and includes a deeded boat dock on Geist. With nearly 6,000 sq ft and a master on the main level, it is one to see. It is a stone's throw from the home of Marcus Schrenker in the Springs of Cambridge!
It is definitely a time to consider buying in the Fishers Real Estate market with low interest rates, above average inventory making selection better and many many motivated sellers. If you have patience, a short sale may make your purchase even more economical. My buyer did bid on the 11399 Guy Street, we are one of 8 bids on that short sale property referenced in the previous article. I'll keep you posted if we are lucky enough to get that ranch home with a basement listed at $135,000 in Fishers Indiana!