Real Estate Information

One of my favorite shows, Boston Legal is on that night. 

There is something about this show.  The writers are not afraid to take on some of the biggest questions and issues facing the "real" world today.  All with a witty, no nonsense approach to different sides of the question.  So far they've covered gays, minorities, disabilities, military, economy, society, tobbaco companies, politics, and many more subjects that most "sitcom" TV shows stay away from.  

Just wondered if anybody else enjoys the show as much as me, or if anything there has ruffled your feathers?

If you've never watched it, try and catch a show sometime....hey its got William Shatner in it playing one of his best characters to date, so it can't be that bad right???

There is no rock solid guaranteed way to predict what our current market is going to turn into.  Is the economy on the verge or collapsing, or is this really just a normal adjustment after many years of positive growth?   I'm far from an economist, financial expert, or market watchdog, but it is my honest and humble opinion that things ARE going to get better and this is the best time to buy.

I grew up watching my father sell real estate with outrageous interest rates and tough times.  You knew when you signed on a listing that you were going to have that listing for a while, and it was going to take lots of effort and hard to come by money to get it sold, just so that you could try to recoop your expenses and earn a living.  I also watched my father make deal after deal come together, and on top of giving me a wonderful childhood, he was able to give good counsel to those who didn't know which way was up.  Not one of those clients is complaining today.  Most have seen what a remarkable market Hot Springs is, and have reaped the benefits of owning property here. 

It was tough to buy a house, and even tougher for the average working man to buy one needing a huge down-payment, but people did it.   They figured out a way to make it happen.  Real estate has never been something thats easy, but if you have the right attitude and a little bit of knowledge you can make it happen.  He figured out a way to make it happen, just like so many "old-time" REALTORS have done and been doing for many years.

I got into real estate in the "boom."  It won't say it was easy,  but it wasn't like anybody with a real estate license had to bend over backwards to make a decent living either.  You had a small inventory, and people knew if they wanted to get in a house at the lowest possible price you had to act fast.  Show, sign and sell.......it almost happened without having to think about it.

Today, we have a better and greater inventory, but buyers are much more reluctant to jump into buying a home.  Why you ask?  The economy?  Future of jobs?  Election year?  Lender and loan concerns?  Fear of commitment to a loan or payment? or just letting loose of what cash they have saved up? 

The answer isn't just one of those, it's all of those plus a whole other bag of questions and concerns for some.  But the underlying need is still there, and people will continue to buy and sell homes.  It's up to me to make sure that those needs and concerns are met and satisfactory to today's buyers, but overall this is probably one of the better times to buy a home.  Some sellers are nervous and fear sitting on the market for many months with no real since of security that they can sell their home and move on with their life.  They have put themselves out there, listed the house (and here is where it gets interesting) and have established what they see as a fair price for their home.

Say your looking for a house under $150,000.  You need 3 beds, want 2 baths, and love to cook so a good kitchen is a must.  You don't want to remodel or rehab a home to make it "right" for you, so you need something move-in ready.   Do you think you could find one? 

What if I told you I could get you in a home that in 5 to 10 years would be worth at least $20,000 more than you paid, and could get you that house for under $140,000.   Think I'm crazy?  There are over 250 homes in our local market that meet those criteria.  Could you buy them all for under $150K?  NO, I can't predict what each individual buyer is going through and has in mind.   But it only takes one, and with the right approach just about every one of those homes under $150,000 could potentially be yours.  We can and will find you the right home, and work hard to get that "motivated" seller truly "motivated" to sell you his/her home. 

You'll get good schools, great neighborhoods, and you get to enjoy the benefits and pleasure of owning your own home, not to mention building credit, equity, and a pride of ownership that comes with having something as cherished and valued as a home. 

It's mostly about attitude and how you see things.  I'm not going to try and sway you, or change or thinking, but an open mind, and the desire to better your situation should allow you to see that this is the RIGHT time to buy a home.  Rates are at near all time lows, loans are available, and people are more open to wheeling and dealing to make something happen.  You just can't be afraid to be different, and separate yourself from the crowd and make that first step. 

If George Washington and our forefathers hadn't taken that first step we might not be the great country we are today.  If you never mustered up the courage to do or ask, you never gained anything.  If you simply sit idly by and do nothing, guess what your going to get.

That's right.......NOTHING.   

Take that first step, ever cautious as you want to be, and know that nobody can force you to do anything.  If it's not right for you, and you truly believe that, then don't, I know I personally am not going to take offense or get upset becuase someone has looked and weighed all the options and doesn't feel right about purchasing a home; but don't think that just because everybody else is scared that you have to be.  Educate yourself, be informed, and make the best decision you know how, and in the process of doing so I think you'll see what I see.

A bright, positive, viable future.  We have made it through every obstacle that has ever come down our way, it is no time to just sit on our hands and do nothing.  This year is going to bring incredible change, its up to you which way that change affects you.

In general, across the U.S. there has been a wide variance of housing prices.   Some areas have seen as much as a 15% drop in home sale prices, but if your looking at our site, and our area, you won't find anything of the sort.  

Hot Springs, Hot Springs Village, and all of Garland county, have actually seen a 1.5% to 3.1% increase in home prices in the first quarter of 2008.  Granted some homes have been selling for less than list price, the inflated list price hasn't struck a chord here.   Prices are stable, the local economy is stable too, and several future business ventures and expansions are sure to keep things on track.  Arkansas as a whole has seen a 1.4% increase in home prices, so besides being one of the cheapest places to live, retire, or vacation, things are looking positive for homeowners.  It may be a little slower than last year, but business is still better than 5 years ago, 10 years ago, or even 3 years ago.  Don't believe the hype.  Take a look for yourself, do the research, look at the numbers.  Buying or investing in Hot Springs is still a smart move.

With summertime here, it's time to kick back, catch some sun, relax and enjoy yourself down by the pool right?  Of course, but keep in mind children see the pool as a fun, playtime atmosphere...and not safegaurding your pool or being aware of the area around the pool your visiting may result in no kicking back, no catching some sun, and definately no relaxation or enjoyment.  Even if you don't have kids, remember neighbors and wandering children are still at risk. 

1. The fence or other barrier should be at least 4 feet high. It should have no foot or handholds that could help a child climb it.

2. Vertical fence slats should be less than 4 inches apart to prevent a child from squeezing through.

3. The maximum clearance at the bottom of the barrier should not exceed 4 inches above the ground, when the measurement is done on the outside of the barrier, the part that is facing away from the pool.

4. Gates should open away from the pool, not into the pool, and should be self- closing and self-latching. The gate should have no opening greater than ½ inch within 18 inches of the latch release mechanism.

Of course these are basic guidelines and your local codes may require more stringent safety precautions.  Some say 5 ft fences should be the norm.  Please check with your local code department and use your common sense.  Think safety first and everyone will have fun!

Don't believe the Hype!  You have heard it from the news, read it in the paper, maybe even talked with friends or family who HAVE been hit by the housing "crisis".   But do you hear, or better yet see that here?   In Hot Springs?  The answer quite simply is NO.

Yes prices have come down.......when you look at what they've come down here vs. what they have done elsewhere; I'd still rather be trying to sell here in Hot Springs because our home prices have only fallen 3-6% from 2007 numbers, and that's still well above average.

Yes loans are harder to get, but think about it.......20 years ago interest rates where 17-23%, and you had to have at least 20% down if not more to even think about purchasing a home.  Even today, FHA or conventional type loans are at some of the lowest interest rates, and getting a loan doesn't normally require more than 10% if anything down.

So before you freak out, get worked up, start to panic.......think about all that Hot Springs has going for it, what its been through......and realize that things aren't that bad HERE.  We don't have any control over what happens elsewhere, but we do have control over what does on HERE.   Take pride in knowing that this is a Great place to live and grow old.  Our local economy is strong and people from Hot Springs have always been resilient.

By Marketwatch:

All of the gloomy economic news may have investors bracing themselves for more turmoil. But according to one respected investment research firm, the economy may have already emerged from a recession.

Mark Hulbert reports that TrimTabs used a proprietary econometric model that examines job data to arrive at this conclusion. TrimTabs found significant improvements in this data at a time when a recession would mean continued declines in such numbers. Though the Hulbert Financial Digest does not track TrimTabs' investment advice, Hulbert writes that TrimTabs does seem to have made some impressive market calls over the past few years.

Gold may have staggered away from the $1000 threshold recently, but Peter Brimelow finds gold investors taking solace in two seemingly obscure data points. And Brimelow says that gold may now be at a price point that could spur new demand in India, which is the world's largest importer of gold. -- Ari Charney, Portfolio Analyst

Let us know.

This blog is as much about you as it is us.  Got something you want to see?  or know?

Drop us a line and we'll be happy to shell out advice, free of charge.

Common, there is NO dumb question in Real Estate.