Housing Market Looking Up In Fort Wayne

By John W. Davis

June 23, 2011 Updated Oct 23, 2013 at 8:04 AM EDT

FORT WAYNE, Ind. (Indiana's NewsCenter) - The housing market is looking up in Fort Wayne.

According to the Federal Housing Finance Agency (FHFA), Fort Wayne ranked in the top ten percentile of most stable housing markets.

Fort Wayne was rated 28 out of 309 Metropolitan Area House Prices in the United States for the 1st Quarter of 2011.

RE/MAX Results Realtor & Sales Manager Dave McDaniel told Indiana's NewsCenter he has recently noticed a big increase in prospective buyers.

McDaniel said it was like someone flipped a "buying switch" on Memorial Day.

"We don't get the appreciation some other markets do. Florida, Nevada," RE/MAX Results Realtor Dave McDaniel.

"But on the other side of the coin we don't get the depreciation as fast either. We did drop in '07 when everything fell out. I think we dropped close to 15% but we've recovered a lot of that," explained McDaniel.

McDaniel believes the Fort Wayne housing market will continue to get better, although it is still a buyer's market.

The average home in the area stays on the market for four months before it is sold.

Meanwhile, Fort Wayne Resident Jan Johnson is ready to sell her home.

Johnson said she has way too much house and way too much yard work.

Johnson lives in the Kensington Downs East subdivision in Northeast Fort Wayne.

Her three-bedroom ranch was custom built in 2007.

The price tag back then, nearly $210,000 dollars.

However, Johnson and her Realtor Dave McDaniel will list her home on Grand Forest Drive for $185,000 dollars Friday.

"I finally just decided this is the right time. I have to sacrifice by taking a loss on the house but I also will be able to buy something else for less than what it would have cost me when I had this house built," explained Seller Jan Johnson.

Johnson said she realizes she could end up losing $30,000 dollars but she has weighed the pros and the cons.

She said the pros like moving closer to her grandchildren, out weighted the cons of losing equity.

She wants a three bedroom ranch.

Her must have, a finished basement.

However, she is still debating whether to buy a move-in ready home, or buy a cheaper home that needs renovations.

Johnson told Indiana's NewsCenter she's hopefully she can sell and buy her new home before next year.

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