If you’re in the market to buy, Noblesville Real Estate offers its share of deals.  Distressed properties is an umbrella term that includes Bankowned, Bankruptcy, Possible Short Sales, HUD owned, Foreclosure, PreForeclosure, Probate and VA owned. 

As a realtor helping a Buyer search for any specific type of “distressed” property, one must keep in mind that the Listing will only match your criteria if the Listing Agent discloses it properly. 

There are pros and cons with each but the most important thing to remember is that nothing is truly FREE.  The price a Buyer pays for a distressed property should not only be measured in actual “sales price” but also in time spent in consummating the deal and of course repairs.  As a result, purchasing a distressed property is not for everyone and that’s where having an experienced and Certified Distressed Property Expert as your realtor can help!

As of July 31st, Noblesville Real Estate had 79 ACTIVE distressed properties ranging in price from $1,400,000 to $34,900 on the low end.  There are currently 5 distressed listings in the high-end custom neighborhood of Sagamore!  Other Noblesville neighborhoods with a notable number of distressed listings are Deer Path with 7 (the most) and several with 3 including Morse Pointe, Mill Grove, Harbour Woods, Creekside.

There are 25 PENDING offers for distressed properties illustrating a fairly active summer!  Typically a distressed property is not “pended” until all bank addendums are signed/received or short sales are approved, etc.  There were 7 CLOSED/SOLD transactions in the month of July.  This seems low to me showing that while most Buyers are intrigued with the idea of getting a deal, many end up buying traditional resales because of time and frustration involved in closing a distressed property deal.

This Noblesville Realtor has received specialized training to work with distressed properties.  So if you, or someone you know, is facing possible foreclosure or is interested in buying a distressed property, please feel free to contact me either by phone or email!  For more information on Short Sales, refer to one of my previous blog postings on the subject.

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