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Recently Sold Carmel Indiana Real Estate and Surrounding Areas
- 1/42 42
closed
$349,900
1.4%$345,000
4 Beds3 Baths2,164 SqFt10651 Pleasant View LN, Fishers, IN 46038
Single Family Home
Listed by Stephen Barton of Real Broker, LLC
- 1/18 18
closed
$94,900
21.2%$115,000
2 Beds1 Bath1,486 SqFt46 E Regent ST, Indianapolis, IN 46225
Single Family Home
Listed by Kimberli Davis of Kimberli Davis
- 1/33 33
closed
$210,000
3.6%$202,500
3 Beds2 Baths2,064 SqFt501 Strawberry LN, Indianapolis, IN 46219
Single Family Home
Listed by Stephen Barton of Real Broker, LLC
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Yossi Hazan
Stephen Barton exceeded all my expectations as a real estate agent. His depth of experience and keen understanding of the market were instrumental in closing my deal smoothly and efficiently. Stephen's professionalism and attention to detail made the entire process stress-free. I highly recommend Stephen Barton to anyone seeking a dedicated and knowledgeable real estate agent. Thank you, Stephen, for your outstanding service!
Market Insights for Carmel Indiana Real Estate and Surrounding Areas
Sorority Houses Are Getting Instagram-Worthy, Multimillion-Dollar Makeovers—See Inside
Sorority Houses Are Getting Instagram-Worthy, Multimillion-Dollar Makeovers—See Inside
Jim Yeary; Cole & Cole ArchitectsChristina Harris lived in the Kappa Alpha Theta sorority house at the University of Oklahoma for three years. Now, she’s returning—but this time, as an interior designer charged with giving the modest digs a makeover to the tune of $14 million.Harris says that back in 2007 to 2009, the sorority house had one large lounge space shared by 86 girls. It also had a study area that could accommodate only about 15 people at a time. But the new renovation will include a 10,000-square-foot addition, giving the Kappa Alpha Theta home a space large enough for the entire chapter.It will also have “new bathrooms complete with dry bars, for an added touch of luxury and convenience,” Harris adds.Kappa Alpha Theta’s renovation might seem over the top, but it’s become the norm for a number of sorority houses across America that are splurging on multimillion-dollar makeovers featuring high-end coffee stations, lounge-like loos, opulent libraries, and much more that make sorority living feel more like a luxury resort rather than college.“Potential new members often get their first impression of a sorority through social media,” says Harris, the associate principal of GH2 Architects in Tulsa, OK. “It’s now easier than ever to see how a Greek house in Oklahoma compares to one on the East or West Coast.”Liz Toombs, who owns an interior design firm that specializes in sorority houses, says social media plays a big role in the makeovers.“Beautiful spaces get shared and liked, which creates a bit of a friendly competition among houses to have the most Instagram-worthy interiors,” she says.It has also pushed top-tier sororities across the country to up their game. And typically sororities—not the universities—are the ones that foot the bill.One reason behind these extravagant renovations is that they’re increasingly seen as crucial in recruiting the best of the best during rush week. For professionals who specialize in sorority house design, the pressure’s on to stay one step ahead of the latest trends.“I keep an eye on Rushtok and dormtok, as well as new design industry trends, to give me fresh ideas,” explains Toombs. She also asks members for “inspiration photos” she can use as a starting point to create “spaces that are not just functional but also visually stunning.”Luxe sorority house entryway designed by Liz ToombsLiz ToombsHarris says renovations on her former sorority house have just begun, with hopes of completion by next year. Overall, she plans to emphasize the importance of creating beautiful spaces that reflect the house’s unique character and culture.“Regardless of social media impressions, we have been truly focused on creating a warm and inviting environment for those girls who are lucky enough to call Kappa Alpha Theta home,” says Harris.Rendering of the exterior of Kappa Alpha Theta© 2024 GH2 Architects, LLCRendering of the foyer at Kappa Alpha Theta© 2024 GH2 Architects, LLCRendering of a meeting room at Kappa Alpha Theta© 2024 GH2 Architects, LLCRendering of the dining room at Kappa Alpha Theta© 2024 GH2 Architects, LLCCurious just how opulent a sorority house can be today? Here are two other sorority houses that have undergone extensive renovations, with some jaw-dropping results.Tri Delta, University of ArkansasThe 2018 expansion and renovation of the University of Arkansas’s Tri Delta 7,760-square-foot sorority house “increased the house to approximately 43,000 square feet and cost approximately $14 million,” according to architect Jim Yeary, of Yeary Lindsey Architects.For legacy purposes, the original chapter house was retained, gutted, and renovated on the interior and exterior. Two former additions were removed, and three new wings were added.“The chapter was very receptive to incorporating architectural detailing throughout the house,” explains Yeary. “There is also more of an emphasis on bathrooms, finishes, and furniture that helped enliven the spaces.”He designed large common areas, including a multipurpose room that seats over 300 for chapter meetings and yoga sessions.The exterior of the Tri Delta house at the University of ArkansasJim YearyThe colossal living room in the Tri Delta houseRett PeekThe elegant Tri Delta dining roomRett PeekThe majestic staircase in Tri DeltaRett PeekTri Delta’s refined sitting room with a fireplaceRett PeekThe sophisticated furnishings in the Tri Delta libraryRett PeekThe spacious, luxe powder room at Tri DeltaRett PeekDelta Zeta, University of AlabamaSorority recruitment at the University of Alabama is so intense, that TikTok videos with the Bama Rush hashtag get millions of views, and its rush week was even the subject of the 2023 documentary “Bama Rush.”That’s one reason why the Delta Zeta house at the University of Alabama is ready for its closeup at all times.Sorority members live in the lap of luxury in the $17 million, 40,000-square-foot megamansion.The old house was razed in 2017 to make way for a palatial new structure with a grand entrance with a sweeping staircase and crystal chandelier.Architect Les Cole, of Cole & Cole Architects, says he intentionally gave the building more of a residential scale, “like many of the large custom houses we’ve designed over the years,” he says.The luxurious rooms are appointed with fireplaces, bookshelves, paneled walls, decorative ceilings, and many specialty fixtures and finishes.“The goal was to create a home away from home where the young women could go between classes, linger, and connect,” Cole explains.The mammoth house contains a 250-seat dining hall with as many as 800 meals served daily; a 300-seat chapter room; multiple living areas and lounges; bedrooms for 66 members; seven study rooms; and a T-shirt station for storage and distribution.There’s even a “presentation practice room” that includes videoconferencing equipment for member presentation practice and Zoom meetings.Home, sweet home, indeed.The impressive exterior of the Delta Zeta houseCole & Cole ArchitectsThe magnificent staircase and chandelier in the Delta Zeta foyerCole & Cole ArchitectsSophisticated sitting area in the Delta Zeta houseThe massive dining room in the Delta Zeta houseCole & Cole ArchitectsA gorgeous study in the Delta Zeta houseCole & Cole ArchitectsThe house has multiple sitting areas for members to congregate.Cole & Cole ArchitectsOne of the gorgeous outdoor spaces at the Delta Zeta houseCole & Cole Architects
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I Bought a House in Detroit for $1,800: How a Once-Bankrupt City Has Become an Investor’s Paradise
I Bought a House in Detroit for $1,800: How a Once-Bankrupt City Has Become an Investor’s Paradise
Julie TaylorChase C. Hunter became a real estate investor in Detroit in an unusual way. She searched for “best places to buy cheap properties” on Google.At the time, Hunter was living in Houston and was curious to see where she could afford to invest in real estate on a limited budget. After searching online, she decided the Motor City certainly seemed to fit the bill, with sites like the Detroit Land Bank Authority selling vacant “as is” properties for as little as $1,000.Despite her reservations, Hunter pulled the trigger.“I closed on my first two properties the same day in June of 2021,” she says. “The day I closed was my very first time in Detroit.”Her first property cost $2,000, the second was $1,800. Since then, Hunter has purchased a total of eight Detroit homes. She’s transformed one property into her office, while renovating and renting out the others.She permanently moved to the city last year to have “boots on the ground” near her investments.“The market can be a challenge to navigate if you aren’t here every single day,” she explains. “Buyers have to know the culture of Detroit to understand how to invest here.”Hunter is so passionate about the Detroit market, she became a real estate agent 10 months ago and is launching a real-estate investment group to help others buy and rehab homes in Detroit like she has.“Investors come to Detroit from all corners of the country because the market is like no other,” says Hunter.Chase C. Hunter in front of her latest investment property in Detroit. She now owns eight homes in the Motor City.Chase C. HunterHunter poses on the steps outside her first Detroit property, which she bought for $2,000. The home required extensive renovations.Chase C. HunterDetroit bounced back from bankruptcy to ‘real estate boomtown’In 2013, Detroit infamously filed for bankruptcy, becoming the largest municipal filing in history with $20 billion in debt. But since then, the Motor City has rebounded in a major way, with The Wall Street Journal calling it “America’s most unlikely real-estate boomtown.”Real estate prices bottomed out in the area in 2009, at a median sale price of $58,900. Since 2009, however, sale prices have climbed annually each year to land at $217,100 in 2023—an impressive 113.3% higher than the median sale price 10 years earlier.“Buyers, including investors, took advantage of low home prices in the area over the last decade, bringing energy and funds into the city,” says Realtor.com® senior economic research analyst Hannah Jones.As of the latest data in May 2024, the median sales price in Detroit was $250,000—10.5% higher than just a year earlier. However, Jones points out that “even after substantial price growth, the median sales price in Detroit was still [much] lower than the national sale price.”The latest figures put the median listing price across the U.S. at $439,950.Detroit’s spectacular comeback has inspired documentaries like “Gradually, Then Suddenly: The Bankruptcy of Detroit,” which explores the area’s rise, fall, and revival. Reality TV has also highlighted Detroit’s turnaround with shows like HGTV’s “Bargain Block.” It follows two Detroit real estate investors as they buy abandoned properties and transform them into stylish starter homes.Vacant houses in Detroit were once used as drug dens, but now home values have grown by $3.9 billion, according to a recent report.Getty ImagesThe challenges of investing in DetroitBut while Detroit’s real estate might be cheap, that doesn’t mean it’s easy to turn a profit there.Purchasing property in the Motor City often comes with expensive strings attached, such as back taxes or the need for extensive rehabilitation. Even though Hunter’s first property cost just $2,000, she had to invest $85,000 on renovations before it was ready for renters. Renovations on her $1,800 home, which she converted into her office, cost $130,000 because she encountered issues with the water lines.Since rehabbing her first two properties, Hunter now spends more upfront on homes so she’ll have to spend less on the back end.“I used to buy major rehabs that I’d have to repair from roof to basement; but at this point, I focus on things I can turn over pretty quickly such as cosmetic rehabs,” she says. “I look for homes in the $80,000 range, because you spend less on repairs.”Her renovations now usually cost anywhere between $5,000 and $10,000.Before bidding on a Detroit investment property, Hunter looks at the structure “for the potential it has—square footage, location, and dollar amount for repairs.”She typically uses business credit cards to fund all of her repairs and renovations. When it comes to getting renovations done, Hunter carefully vets everyone she works with.“People will try to take advantage of you, especially if they know you don ‘t live here,” she warns.Hunter bought her second investment property in Detroit for $1,800. After an extensive rehab, she converted it into an office.Chase C. HunterHunter has renovated most of her properties from the ground up and included modern furnishings in this lounge.Chase C. HunterHunter needed to rework the lounge’s entire floor after she bought this investment property.Before renovating this kitchen in one of her properties, Hunter found it was littered with trash and falling apart.Chase C. HunterThis is the same kitchen, post-renovation.Chase C. HunterBut is Detroit safe?The actual homes aren the only challenge for Detroit real estate investors. The surrounding neighborhoods can be an obstacle, too.“Crime is definitely still a major challenge,” Hunter admits. “It can deter you from buying here for sure.”Yet things are improving: Last year, Detroit had its lowest crime rate in 57 years.Hunter protects her properties with top-notch security systems and advises her clients to do the same. She also does her homework on a neighborhood before buying a property, with safety in mind.“I avoid really bad areas that would be unsafe for single mothers and children,” she says. “If a property doesn’t function well for a family, I move on.”Some of the most up-and-coming neighborhoods in Detroit are Morningside, Bagley, and Warrendale, according to Realtor.com®.Despite crime problems in certain areas, Hunter was pleasantly surprised to find that Detroit is a close-knit city.“Neighbors here keep an eye on things for you,” she says. “One of my favorite neighbors passed away last year, and he would call me if my tenants were doing anything out of line. His daughter does that for me now.”That strong sense of community is one of the reasons Hunter wants to keep investing in the booming metro.“Most of my neighbors have become my family,” she says.
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Homebuyers Reveal How Low Mortgage Rates Must Go Before They Buy a House
Homebuyers Reveal How Low Mortgage Rates Must Go Before They Buy a House
Illustration by Realtor.com. Source: Getty ImagesThe housing market has been tough in 2024, with stubbornly high mortgage rates keeping many homebuyers on the sidelines.But in August, a light appeared at the end of this tunnel when rates dropped to yearlong lows—below 6.5% for a 30-year fixed home loan.And with the Federal Reserve signaling a much awaited interest rate cut in September that could cause mortgage rates to tumble further, many homebuyers are wondering: Is now the time to get out there and start home shopping—or should they wait for even lower rates down the line?Indeed, the Realtor.com® midyear forecast predicts mortgage rates to fall to 6.3% by the end of the year. This would mean that homebuyers who hold off could stand to save significantly on interest payments. But playing the waiting game comes with risks, and trying to time the market is always a gamble.Ultimately, how long to wait is a highly personal decision based on each buyer’s circumstances. To highlight these unique perspectives, we found four homebuyers who were willing to share their plans—how low mortgage rates need to go before they get out there, and what they’re doing now to prepare.In the coming months, we’ll provide regular updates on these homebuyers so you can see how their various strategies pay off, and learn more about how to time your own home search just right.‘I’ll buy a home once rates fall below 6%’Homebuyer: Kathi KendallWhere she’s buying: Scottsdale, AZ, or Gilbert, AZPrice range: $500,000 to $1 millionHow low rates need to go: Below 6%Her waiting game: Kathi Kendall, 62, who works at a university, wants to sell her current home and buy into a 55-plus community with a golf course and mountain views.“I am looking for a lifestyle change now that I’m going into retirement and my kids are out of the house,” she says.Her current home is paid off, with no outstanding mortgage balance. Even so, she explains, “I’m waiting for rates to go down to sell, because lower rates tend to mean higher home prices.”The entryway of Kathi Kendall’s current homeKathi KendallOnce she lists her house, she plans to start looking for a new property immediately, but since she plans to finance her next home purchase, interest rates will continue to affect her choices.“If the interest rate drops half a point next month, I am going to buy a more modest place,” she says. “If rates drop a full point, I am getting something nicer with a lot of potential to build on its value.”If Kendall doesn’t find something she loves, however, she plans to wait out the market, put her stuff in storage, and rent a furnished apartment until the time is right.‘I’m waiting for rates to go below 5%’Homebuyer: Camille BradburyWhere she’s buying: Taos, NMPrice range: $300,000 to $450,000How low rates need to go: 5%Her waiting game: Camille Bradbury, 39, a director of human resources communications, bought a house in 2021 with a loan at a fixed 3.2% rate. While the rate was great, she purchased right when real estate prices had peaked, paying more than $100,000 over the asking price. To cover this loan, her family gifted her money, which ended up “being messy,” she says.Now, she’s trying to sell her current home to get out from under her hefty mortgage and pay her family back, boosting her savings by doing side hustles as a consultant. After she sells, she plans to rent until she can afford to get back into the market.To buy again, Bradbury would like to see rates go below 5%. She realizes she might be waiting for a long time—up to a year or longer—but given the regrets she has with her first home purchase, she wants to proceed with caution.“I don’t mind waiting,” she says, but adds that she knows not to hold off to the point that a great opportunity passes by.“The last time, I waited too long and missed out on several great investments in 2020,” she adds.Camille Bradbury inside her current home in Taos, NMCamille Bradbury‘As an investor, I want rates in the low 6% range’Homebuyer: Yancy ForsytheWhere he’s buying: Kansas City, MOPrice range: $250,000 to $300,000How low rates need to go: Below 6.25%His waiting game: Yancy Forsythe, 42, a real estate investor with years of experience buying, selling, flipping, and renting out homes, is hoping to buy his next property soon.“I’ve been regularly browsing online listings to get a sense of what’s available and to monitor prices,” he says. “I’ve toured a few homes, but I haven’t made any offers yet due to the current rates.”Although rates are now below 6.5%, he’s “hoping that rates will become more favorable in the near future.”But he definitely won’t waste much time before getting out there, because he’s “concerned that lower rates will increase competition, making the market even more challenging for us investors.”Real estate investor Yancy Forsythe is waiting out the market for now.Yancy Forsythe‘With rates now under 6.5%, we’re not waiting any longer’Homebuyers: Jonathan and Jennifer RossWhere they’re buying: Fort Worth, TXPrice range: $400,000 to $650,000How low rates need to go: Below 6.5%Their waiting game: Attorney Jonathan Ross, 47, and Jennifer Ross, 45, a commercial real estate broker, currently live in San Antonio, TX. The married couple have been considering buying a new home for the past half-year, but only recently got serious about their search once rates dipped below 6.5% in August.“The reason we’ve decided not to wait any longer for rates to decline as of this month is because it’s likely that home prices will increase when interest rates decrease,” Jonathan explains. “I would rather buy now and refinance later to be sure that I can buy at a reasonable price.”To make sure a refi is possible later on, they’re making sure to shop carefully for a home loan where the costs and restrictions around refinancing are minimal.Is waiting for rates to go down a good idea?Playing the waiting game? You’re certainly not alone.“I’m working with many sellers who are waiting for rates to come down,” says Sam Fitz-Simon, a real estate agent with Compass in Danville, CA. Many, he says, are homeowners sitting on low-interest mortgages who are waiting “so they can unlock their equity and move up.”However, Fitz-Simon warns his clients that waiting could end up costing them more.“The market has proven that increases in interest rates have done little to dampen price increases,” he points out. “The longer people wait, while the amount they can qualify for increases, so do the prices of the homes.”Plus, the Realtor.com midyear forecast anticipates that falling mortgage rates could put upward pressure on home prices, with list prices anticipated to rise 4.6% by the end of 2024 compared with year-ago levels.“If lower mortgage rates spark more buyer demand than inventory can keep up with, then prices may climb once again, eliminating the impact of lower rates,” says Realtor.com senior economist Hannah Jones.Once rates drop, in addition to higher prices, there will be way more competition from other buyers.“It’s easier to purchase a home with less competition now than to go out into the market later and compete in bidding wars, which typically drive up prices,” says Jason Gelios, a real estate agent with Community Choice Realty in Southeast Michigan.The typical home spent 50 days on the market in July, so many sellers are still accepting lower offers and offering concessions. Once interest rates start decreasing, sellers will be less likely to do that.For homebuyers who don’t want to wait, one option to consider is to buy now and refinance later. Homebuyers should also keep in mind that current interest rates are still considered quite low, historically speaking. The 30-year fixed mortgage rate reached a peak of 18.4% in October 1981.“Many homebuyers are making the mistake of waiting to buy based on the unprecedentedly low interest rates we saw during the [COVID-19] pandemic,” says Lindsay Fanali, a strategic real estate adviser at Real Estate Bees in Wellington, FL. “But it’s highly unlikely we’ll ever see rates go that low again.”Or look it at another way: “Unless you live with family, you are renting—and rent is 100% interest,” quips Jennifer Vokolek, a real estate agent at Re/Max DFW Associates in Frisco, TX. “There’s always a better financial time to change jobs, get married, have a baby, and even buy a house. Don’t wait on life, live it.”How homebuyers can prepare while they waitEven if you’re not ready to buy until interest rates go down, there are steps you can take beforehand, including finding a real estate agent to walk you through the process.“I’m helping my clients prepare by creating a solid game plan,” says Isiah Denman, a real estate adviser with Spears Group at Compass in Santa Rosa Beach, FL. “First, I ensure they get pre-approved with a lender.”Once that happens, he goes over the exact process his clients need to follow once they find a home they’re ready to make an offer on.“That way, they’re ready to act swiftly when the right opportunity arises,” says Denman.
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