What $400,000 buys: Fort Wayne, Ind.

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What $400K will buy: Fort Wayne, Ind.
This traditional two-story home, with five bedrooms and seven bathrooms on a wooded half-acre lot, was built in 1994. The eat-in kitchen, dining room and great room flow together in this open floor plan. The kitchen features cherry cabinets, granite countertops, Jenn-Air flattop range with grill, double ovens, and tile floors, island and breakfast nook with a built-in china cabinet. The dining room sports a wet bar, butler’s pantry and built-in planning desk. The great room features wood-burning fireplace, bay window and wood accents. A glassed-in four-season room with heat and air opens to deck. Separate den with built-in bookcases is “just a nice quiet get-away,” says Doug Howell, broker with Century 21 Bradley Realty Inc. Upstairs, the large master suite has a bath with jetted tub, separate shower and “monster walk-in closet,” he says.
5 bedrooms/7 baths
3789 square feet
0.55 acre
Features: Two-story foyer, formal living room, each bedroom has its own bathroom, downstairs den with built-in bookcases, nine-foot ceilings and crown molding, high-efficiency gas furnace, central vacuum, security system, lawn sprinkler system and wooded lot.
Listed by: Century 21 Bradley Realty Inc.
What you could buy in Fort Wayne for $400,000 a year ago.
Price trend
In Fort Wayne $400,000 will buy a top-of-the-line home, says Howell. At that level, buyers will be looking at finished basements, wet bars, granite countertops, security systems, three- to four-car garages and 3,000-plus square-feet on a half-acre lot, he says. Many of the newer homes will have open floor plans, vaulted ceilings and a lot of glass, he says. In addition, many of the master suites will feature bathrooms with multihead or steam showers.

In Fort Wayne, commuters can travel from one end of the city to the other in a half-hour, says Howell, so buyers can choose from several golf course communities, or areas where they can have wooded lots.

The median home price in the area was $92,600 in 2008, down 2.5 percent from the previous year, according to the National Association of Realtors. Sales across the state are off 20 percent. “In the four-hundreds would be the upper end of the market,” says Howell. In that price range, you’re looking at a pretty nice house.”