That's my short answer. Those of you that know me know that I don't like giving short answers, so here goes.
Right now inventory is low in the Fort Wayne real estate market. Especially if you're talking about homes in the Northwest and Southwest Allen County School Districts. Home inventory in those two areas are extremely low, and we're seeing homes fly off the shelves within days (and sometimes hours) of being listed.
If you're considering selling and you live in those areas, PLEASE call us at 260.704.0843. We'd love to talk with you about your situation.
Anyway, back to the point of this blog...
As a buyer in the Fort Wayne area, you can find a fair deal right now. By "fair" I mean just that. You can find plenty of homes out there that are priced well and that are priced at fair market value.
Sure, you might be able to get the sellers to come down a little bit, or probably get some seller concessions such as closing costs, a home warranty, or a survey. But the odds are against you getting them to come down much (in most scenarios).
It's all going to depend on the situation.
I've helped more buyers this year than ever before, and none of them have gotten the deal of the century. That may sound bad, but I'm just shooting straight here. The market dictates price, and right now the market says that home values in the Fort Wayne area are up and on the rise.
On the other side of it, Amanda and I have helped many sellers this year, and they are all getting top dollar for their homes. I think our average sale to list price is around that 98% point.
No, we aren't patting ourselves on the back (maybe a little bit), we're just stating the facts.
As far as investor go, it's tough sledding out there! We work with two guys that try to flip 3-5 homes a year, and it's been a rough year for both of them. Even the foreclosures in Fort Wayne are selling for list price and above.
The days of getting homes for 60 cents on the dollar are GONE in most situations.
Am I saying that it's a bad time to buy a home in Fort Wayne? Of course not! What I'm saying is that it's primarily a seller's market right now. Sellers are getting top dollar for their homes.
The good thing for buyers in the Fort Wayne area is that interest rates are still low and competitive, and in the big picture, it is still a good time to buy.
Whether you're buying or selling in the Fort Wayne area, please give us a call for a pressure free conversation about your real estate needs. We hope to hear from you soon! 260.704.0843.