Investors Set Sight on Indianapolis Real Estate
Recent phone calls and requests about property listings in Indianapolis from buyers around the country prove the real estate market in Indy has piqued the interest of investors.
Some have expressed an interest in foreclosed and bank owned homes, while others are looking at anything which is a deal. There are many cities around the country with a higher inventory of foreclosure and bank owned properties than Indianapolis. So, why are investors looking at Indianapolis for their investments? It's all about price! Indianapolis has the lowest priced homes in the nation for a city our size.
Let's look at a few statistics:
There are currently 21258 properties for sale in the Indianapolis area.
7146 of these properties are listed for less than $100,000. The number equals 33.6% of all active properties available.
4339 of these properties are in Marion County.
634 properties in Marion County are priced less than $25,000.
Granted, not all of these properties are a good investment; some are.
Is investor activity good for the Indianapolis real estate market? I believe it is! Most of the investors I have spoken to are interested in a price point less than $75,000. Most will pay cash and fix up the property. Some will flip the property for a quick profit, while others will fix up the property and hold as a long term investment.
Regardless of whether they fix for a profit or hold as an investment, the benefit of rehabbed homes will increase the value of properties and the surrounding neighborhood. Nothing blights a neighborhood more than vacant, run down homes.
What do you think? Is investor activity good for Indianapolis?