Fact or Fiction in Fort Wayne Real Estate

Fact or Fiction in Fort Wayne Real Estate

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It’s easy to become overwhelmed with information from many different sources when getting started in the Fort Wayne real estate game. As a result, it can be difficult to decide which pieces of advice are credible or not.

Keep these five common bits of misinformation in mind as you begin your Fort Wayne real estate process, either in the home-selling or home-buying process.

Fiction: 20% is Always Necessary

In the past it has been routine to have 20% to put down up front when buying a Fort Wayne home. Since the housing market collapse the process of getting a home loan has become more difficult but it’s not impossible.

However, with the right assets, credit, and income it is actually possible to get a loan for as little as 3 percent. Speak with your bank to learn just how much you are able to put down before you find that home you can’t live without.

Fiction: Fort Wayne Home Value is Only as High as the Appraisal

An appraisal looks at a long list of factors when determining the value of your Fort Wayne home, such as view, neighborhood, fixtures, furnishings, etc. In most cases the appraisal will show that the home is worth well below market value.

However, your Fort Wayne home value is not necessarily defined solely by the home appraisal. Research the current Fort Wayne market along with the current state of your home to arrive at a fair price that fits the overall value.

Fiction: Only Sell a Fort Wayne Home in Spring

Contrary to popular belief, there is not a set season for home sales. While the Fort Wayne real estate market seems to move much quicker in the spring months, the best time to sell a home is when the market is low on inventory. This can often mean the winter months.

Don’t hinge your home sale on a particular season but instead work to determine the best time to put your home on the market.

Fiction: Fort Wayne Open Houses are Unhelpful

While extremely valuable and a necessity, you can’t show everything about a Fort Wayne home in a few photos that appear in your online listing. You need to host an open house. When buying your home, you probably didn’t know it was ‘the one’ until you set foot inside. Allow potential buyers to have that same moment by hosting an open house.

Even if you’ve been through the home-buying or home-selling process before it is easy to get overwhelmed and wrapped up in all of the advice you receive. There are many pieces of information out there that are easy to see as fact.

However, keep in mind the above information on Fort Wayne real estate when you begin the process and you will position yourself to be able to avoid a bigger headache later on.

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