Prices May Have Leveled Off...But Don't Think It's Over

I watch the prices of Northwest Arkansas homes on a minute by minute basis. It's true, although maybe it seems boring, but if I'm not out working with a client, I watch the new listings and reduced prices on my multi-list every minute of daylight, often into the night. I'm trying to not only catch good listings, but to try and ferret out the over-priced, the under-priced, great locations, etc... It's what you expect out of an agent. They watch it so you don't have to. And don't get me wrong, there are great online apps that give you lots of info. But when you have years and years of experience in an area, with the neighborhoods and the people, with the great locations vs the not so great - you're getting vastly more than you can get by looking at an app. 

The crazy prices that were happening in Bentonville have leveled off, finally. Everyone in the business knew it wouldn't last forever. We were, for a while, in a position that allowed one to ask nearly anything in the downtown area and expect to receive an offer. Those days, except for rare circumstances, are over. But prices aren't dropping like a lead balloon. Things are still good and prices are up; supply is limited. Bentonville today has 491 current listings. Many of those are new construction in the southwest part of the city. 992 listings have sold or gone pending in the last 180 days, which is about 165 homes sold a month. 

Looks like a good time to get in to the market, there are deals to be had. Please call me if you have questions - answers are free! 479-903-0328

Bentonville Prices Leveling Off a Bit...

Looks like the never ending upward spiral of pricing in Bentonville, especially downtown, is leveling off a bit. There are currently 467 Bentonville listings with 268 under contract and 615 sold in the last six months. 350 of those sold have been in the last 90 days. That's a robust market folks, any way you slice it. The average list price currently in Bentonville is a whopping $145 per sqft. However, the average sold price in the last six months is only $120 per sqft. This tells us that the average home is priced quite a bit above what they are actually selling for. Some of this is skewed by the higher than average downtown home prices. The average list price of homes that would be considered to be close to downtown is $230 per sqft so you can see how that would make a different in overall home prices. Is it all too confusing? If you are looking for some direction in how to proceed in buying a home or selling your existing home, please give me a call or drop by the office. Together we can figure out the best course of action. 479-903-0328 

Reduced Price! New Listing 903 NW A - Huge lot with a Pool

New to the market, 903 NW A street in Bentonville, just a short walk to the Crystal Bridges trail system and overlook. 6/10th of an acre, 2442 sqft with two separate apartments with kitchenettes, hardwood floors, modern kitchen, two living areas, pool and lots of backyard. Convenient location to downtown area, 9 blocks from the square. All for $360,000. Please call me today for a private showing. 

 

Sure, You Can Sell It Yourself..But Should You?

I'm a pretty honest and blunt person and sometimes that makes me a bad businessman. For example, I run into people occasionally who say, "I'm going to sell my house myself and skip the fees." And a lot of the time I respond by saying that it's actually not a bad idea in certain markets. If the traffic is high enough, you should be able to sell your home without a problem. So there, I've said it in print. yes, you can sell your house on your own. But it's not so simple.

You have to first determine price, and in a hot market that can lead to your losing enough money that you could have paid an expert to keep you from doing just that. Sure, there's a lot of information on the inter-web. But it's not very precise. One leading real estate website tries to place a value on each property but this can be misleading at best and downright incorrect at worst. Your local real estate professional has access to hundred of different records that help you sell your home, including the multi-list system, county records, city planning, and a deep familiarity (we hope) with the community and how the market is in any given spot. This alone can save you thousands of dollars.

Next you have all of the legal documents that go toward a less risky transaction. Property inspection, fair housing, lead based paint, termite - did you think of all of these? One wouldn't want to sell a home only to have legal problems down the road when something turns up that you didn't think of.

Lastly, whenever you enlist the help of a professional, you will hopefully get someone who is schooled in the art of negotiation. Rarely is it that you price your home and sell it for what you have priced it at, unless you have vastly underpriced it. (see above) You want someone who can negotiate FOR you, someone who is watching out for your best interest. You want the most for your investment and the professional real estate agent can do all of that and more.

If you are thinking of buying or selling, why not call an expert? I have 30 years of experience and I can help you make your best decision. Call me today at 479-903-0328 and thank you.

Listing and Sales Numbers

When someone talks about the market in terms of a "Seller's Market" or a "Buyer's Market" you may wonder what it's all about. Here's the breakdown for Bentonville, and it's pretty comparable for the NWARK Metro area as a whole.

There are currently 393 listings for Bentonville residential properties. There have been 110 similarly listed properties sold in the last 30 days. This means that there is a roughly 4 months supply of homes on the market - meaning if no one listed any more homes, the ones currently on the market would last almost 4 months before we ran out of homes to sell. This is all based on selling price and the particulars of the home. Some will never sell at their current price for one reason or another.

A further breakdown shows more details in the following price ranges:

0-100k homes - 0 are listed, 3 have sold - Hottest market

101-200k homes - 36 are listed, 24 have sold - Next best - 6 weeks supply of homes

201-300k homes - 110 are listed, 34 have sold - roughly 3 months supply

301-400k homes - 123 are listed, 28 have sold - 5 months supply

401-500k homes - 55 are listed, 11 have sold - 5 months supply

over 500k homes - 69 are listed, 10 have sold 6 months supply

This provides you with a lot of information if you are selling or considering selling your home, and also if you are buying. It is plain to see that the market for homes under 200k is hot. Few that have been listed have not sold. And that's not to say that the more expensive homes aren't hot, they just have fewer buyers and take longer to sell.

If you are looking for your next home or considering selling, these numbers are the most important thing in determining that your price is low or high in compared to the market, unless you are willing to wait several months.

Please call me if I can help you with your home purchase or sales. It's a complicated market and you don't need to go it alone!

Buying or Selling a Home Can Be Confusing...

Buying your new home or selling your old home are both, by nature, somewhat confusing. Most people only make these types of decisions a very few times in an entire lifetime.

I find that the question I get most often is - How do I start?

If you are buying a home, it does no good to look at listings and find exactly what you are looking for, only to find that you are unable to get a loan for the amount needed. And when selling there are a lot of tips of the trade that you can't get just by reading about it online.

I have a step by step plan for those who are considering buying or selling - a way in which you can be sure you are making the right choices in either situation. No sense in being nervous! We can figure it out together.

Please give me a call or drop me an email. I can meet with you and go over every thing from start to finish and make sure that you don't miss any opportunities along the way.

And of course, there is no cost for information. Which is another source of confusion in that real estate agents don't (usually) charge for information. We make our commissions off of the selling price of the home.

We can make it through this together! Let me make it easier on you!

Call me - 479-903-0328 or email bentonville123@hotmail.com

Office Space For Lease - Convenient and Spacious Minutes to Downtown

I have a really nice office space for lease. It's located at 3110 Ford Springs Road in Bentonville. The location is ideal for an out of the mainstream office that is still just a few minutes either to the Bentonville square or I49. We have 5650 sqft listed at $5 per sqft lease. It features 24 separate offices and a high level security system. If this fits your needs please call me. 

 

SOLD! #10 Stratfield Lane in Bella Vista - $230,000 and Two Lots

I have a new listing at #10 Stratfield Lane in Bella Vista. $230,000 featuring a 2570 sqft 4 BR 3 Bath home on two lots for more privacy. Close in too, on the east side near Cooper Elementary and 71 North. Take Mercy Way to Dartmoor, right on Dartmoor past the school, left at the Tee and left on Manchester and then right on Stratfield. Take a look today and give me a call to see the inside.

Beautiful from the front., nice quiet Cul-D-Sac

Beautiful from the front., nice quiet Cul-D-Sac