Condos at Bishops Pond (Pike Twnshp) and Green Lea (Perry Twnshp) (Indianapolis: real estate, for sale)

[scubaroy]

Hi everyone. I'm moving to Indianapolis soon for work. I've been doing some real estate searching online and saw that there are some relatively new and reasonably price condos at Bishops Pond in Pike Township and the Green Lea subdivision in Perry Township.

I was wondering if anyone could give me any information about these neighborhoods. I like the idea of buying an inexpensive condo and putting money towards some of my other expenses. Just afraid that the prices I'm seeing (<70k) are too good to be true.

Any help would be greatly appreciated!

[sweetana3]

For condos after price, the three things I would be very careful to check out are:

1. Homeowner Association monthly fee and reserves. You could be surprised after finding a good price to see the fees increase all the time and there might be special assessments for repairs. You need a history of the fees and to know what the status of any increases is from the board.
2. Utility costs.
3. Status of repairs and maintenance for both individual units and the property as a whole. No sense buying a pool that doesnt work etc.

Check to see how many are for sale in the development and a realtor can tell you the turnover. There was one much more expensive development by Eagle Creek where it seemed the whole development went up for sale at the same time. very interesting.

[Kendrick1]

scubaroy, we are in the same boat, sounds too good to be true. My sister currently lives in Bishops Pond and she (her fiance')paid over 90k for her condo and I've seen 3 selling under 65k, very similar floor plans too. I was ready to consider moving there, but why is it taking so long to finish building? I noticed the property tax are high...my sister said they have to replace her deck,which she hasn't had a chance to even use. I don't know on this one...have you done any more research?