Your Carmel Realtor would like to make Bargains, Deals and Steals a monthly or quarterly feature in her blog. I am going to shoot for monthly; we’ll see how I do!
I wrote my first Carmel Home Bargains post in July and gave you a summary of how I find these properties for you. I won’t repeat all of that, but I do spend quite a bit of time researching the inventory and related data to determine which distressed properties are probably the best deals.
To recap the properties from last month:
- 1267 Smokey Row was listed for $234,900 and sold for $195,000 in 19 days!
- 5275 S Woodfield Drive listed for $445,000 has an accepted offer in 29 days!
- 10725 Downing Street for $178,000 is still available; but keep in mind this was a short sale so identifying the “exact” closing date is impossible and many people may not be able to wait.
This month; I had a couple that were great and they have sold in less than a week. The one I liked the best was at Long Branch Estates for $329,000 and over 4,000 sq ft, had an offer in four days! But here are my Top 3 Carmel Real Estate Bargains:
1) 12820 University Crescent for $70,000! It was just reduced Friday from $100,000 to $70,000; this is the typcial price of the 766 sq ft units and this one is 1,544 sq ft. The other similar sq ft condo is listed at $154,900 currently. The tax record is showing $183,200. It is a Short Sale and so you will need time; a close date really can’t be determined until the offer is made and submitted. There are key questions you need to ask the listing Realtor ®, so please contact me if you have interest in this property.
2) 418 Lexington Blvd at 131st and Keystone for $129,000. It sold in 2004 for $157,000 and the tax record is just slightly below that currently. It is priced at $63/sq ft and the average listed and sold is approximately $80 a sq ft. It is also a short sale.
3)1449 Gwynmere Run in Claridge Farm at 116th and Hoover is a nearly 5,000 sq foot home with a finished basement for $382,695. The tax record is well over $100,000 more and the average price in the neighborhood is right at about $135/sq ft. So this home is priced 25% below the average. It sold for $360,000 in 1997 and $415,000 in 2002. The sellers is offering 3.5% closing cost credit if closed by 12/31/09. Any takers?
That completes my review of the homes for sale in Carmel this month that seem to be the best deals. Of course, a tour through the homes and inspection would definitely be needed to determine the best price to offer.
About 40% of my business is in representing buyers in distressed property transactions, so I do know the right questions to ask. Even better, Susan Timmerman, on my team is a Certified Distressed Property Expert. You need expert representation both in selling (i.e. education on deficiency judgements) and in buying (timing and financing options). Our team would like the opportunity to work with you!