Archive for the 'Market Conditions' Category
IT’S A HEAT WAVE in Northwest Arkansas
Posted by Kim Stewart on July 13th, 2009
Wow! Summer is here……does anyone remember rain or a cool breeze? It seems we always want what we don’t have or used to have! Much like our Real Estate Market……everyone seems to relish in the thought of what we USED to have, it was great, don’t get me wrong…….sellers asking almost any price and buyers saying sure! Buyers then turning around and flipping that house for a profit. It was exciting! All across America this was the “norm” not any more people! Todays’ market is what it is. I feel people need to understand what a fair market price is….it is what a willing buyer is willing to pay for your property, and the “comps” or comparables is what your neighboring property sold for.
INCENTIVES
There are lots of incentives, including the $8,000 Tax Credit if you buy before December. This means that when you buy a house and if you are a first time home buyer you will qualify for this tax credit and you will receive $8,000 after you file your 2009 tax return! Think about it……you could pay down your principal, pay off credit card debt, pay off a car loan, replace old appliances or flooring, buy a boat, rv, atv or whatever!
Sellers are getting into the groove as well……there are buyers incentives such as seller paying closing costs or floor allowance to add hardwood or new carpet or plantation shutters or two inch faux wood blinds and privacy fences, etc.
There are also Realtor incentives. Yes that’s right! There are Sellers willing to pay a higher commission than other people to make their property more noticeable. When Realtors see that there is a higher buyers’ agent fee than the rest we will definitely take a closer look to see if it would fit our buyer’s needs. I have also noticed that Realtors will offer bonuses, gift certificates to salons or restaurants, and even paid weekend getaways to the Realtor who gets an accepted offer.
Take all of this into consideration when you want to sell your house and think about all the other incentives that you could throw in! There are a lot of houses currently on the market so think of ways to make yours stand out. Todays’ market is what it is. Knowing what your neighboring property sold for and what a willing buyer may pay goes hand in hand!
Good Luck and remember the weather will always change and so will the Real Estate Market, we have to learn to adapt!
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Northwest Arkansas Home Prices and Market Report – May 2009
Posted by Ben Roberts on June 17th, 2009
I have to apologize to everyone for it being June 17th and I am just now getting the May report done. A lot has been going on in the market: interest rates have come up some, foreclosure sales are down (a good thing) home prices are up, pending sales are up, and general market sentiment is much higher than in the last few months. Here is the Northwest Arkansas Home Prices and Market Report for May of 2009. I do hope you find it interesting. Remember that you can find all of my monthly market reports in Market Conditions. Read the rest of this entry »
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Northwest Arkansas Home Prices and Market Report – April 2009
Posted by Ben Roberts on May 4th, 2009
April Buyers bring May closings! If last month’s Northwest Arkansas Home Prices and Market Report was uplifting…this month’s Market Report should have you singing in the rain. While prices in Northwest Arkansas are nowhere near their highs of several years ago, there is a definite bullish trend in prices, absorption rates, and pending and closed inventory that should make buyers get out and ‘get while the gettin’s still good.’ National buyer confidence for house is trending upward and the trend supports the numbers in this month’s Residential Real Estate Market Report for Northwest Arkansas. Read the rest of this entry »
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