Fort Wayne, Indiana Real Estate Website Advisory: Steep Drop in Home Prices Signals the Time May Be Right to Purchase a Home
FORT WAYNE, Ind., Feb. 3, 2012 /PRNewswire/ — Respected Fort Wayne Realtors website RealEstateinFortWayne.org issued an advisory today to homeowners looking to purchase a home in the Fort Wayne, Indiana area, advising them that this may be a golden opportunity to buy a home at a very low selling price.
According to Dave Nevogt, operator of the site, this advisory was issued in response to a recent S&P/Case-Shiller 20-city report of a steep decline in home prices for the month of November 2011. According to this report, month-over-month selling prices fell in 19 of the 20 cities surveyed, a decline of nearly 4% (3.7%) from levels reached a year ago. According to this report, home sale prices reached their zenith in 2006, but have since then declined 32.8%.
According to Nevogt, “What is truly significant here is that despite all the uproar in Congress and the turmoil across the nation as the housing crisis has hit, home prices are only 0.6% above the bottom-basement level reached in March of 2011. Home sale prices are not picking up, even though we have had continued Fed involvement to keep interest rates low, and some recent evidence to show that the economy is gaining strength. With the further drop in November 2011 home prices, we believe that homes for sale in Fort Wayne are a real bargain right now. We believe that the housing market is sending a strong ‘buy’ signal to potential buyers.”
The RealEstateinFortWayne.org website is designed to be an online resource for those looking for useful information on buying a home in the Fort Wayne, Indiana area. While not displaying available properties directly on the site, real estate professionals are used to make arrangements for financing and to help prospective buyers to locate properties that meet their needs and which they qualify for financially. The site features many posted articles on various topics, such as finding the best mortgage programs, foreclosure properties, home rental properties, how to find the best rental properties, what short sales are all about, and zero-down homes in the Fort Wayne area. Each and every page features an online form that users can fill out to request a contact from a trained professional from their team, who will work with them. “Buying a home can be a confusing and nerve-wracking experience. Our team is in place to help wannabe home buyers to get the process started and help them over the rough spots,” said Nevogt.
Asked why home sale prices continue to decline, Nevogt commented, “Homes in Fort Wayne, and indeed throughout the country, are low priced for a number of reasons. A main reason, of course, is that due to economic difficulties many homeowners have had to either sell their home or that it has been foreclosed upon. Another reason is that large numbers of homeowners who were previously holding on to their property, hoping that the real estate market would rebound and prices would go up, are now coming out of the woodwork and putting those properties up for sale, even though there is a glut of homes already on the market. All this means that there are too many homes and not enough buyers, huge supply but not enough demand, and this has driven home prices downward, and continues to keep them there. This makes it tough for the would-be home seller, but an ideal situation for the home buyer. Now, we feel, is the time for prospective buyers to make their move. You never know when home selling prices will start to rebound. You have to strike while the iron is hot.”
RealEstateinFortWayne.org has as its primary focus providing potential home buyers with fast and accurate real estate information in the Fort Wayne, Indiana area. In these difficult economic times, it is understood that not everyone has perfect credit. We pride ourselves in our ability to find prospective home buyers qualifying properties that match their situation and their needs. They have been in business since 2004, and are based in Indianapolis, Indiana.
Fort Wayne, Indiana