Real Estate Information Archive

Yes the weather has had its way with Arkansas as of late. 

Tornados leveled several communites, 16'' of snow a week later, then a 75-80 degree week followed by more than a foot of snow, then between that runoff and in some places 14" of RAIN we are still trying to dry out.  Hey they had to close barge traffic on most every river in the state.  Todays forecast is 60 degrees with Isolated Thunderstorms, with more Thursday and Friday.....yet there is hope (keep reading).

The weekend looks to be beautiful and there really is nothing more enjoyable than Arkansas in springtime.  65-70 degrees with lots of Sunshine!!! 

With Oaklawn winding down there is some great thouroghbred racing going on in Hot Springs.  The lakes are full and just gleaming with anticipation of the upcoming Summertime season, and Garvan Gardens is in full bloom with some of the most gorgeous botanical displays in the country.  While your out that way be sure to check out the Southern Living House....which is for sale by the way if your interested....FURNISHED!  (I know a Great Real Estate Team). There are countless other things going on.....need to know what and where. 

CALL ME!  I like to keep the really good things exclusive 

So Hot Springs is still a fairly active, strong market.  Plain and simple the "scare" of rest of the U.S. housing market has had limited effect on the Real Estate market here.  Yes we have seen some slow down, but after 5 of the greatest years in history, it had to slow down sometime.  We feel the local market will see an increase in the number oflistings (homes for sale) and a slight downward adjustment in pricing.  This is good news for buyers obviously, but sellers need not panic, as the favorable conditions for buyers to be looking means if your priced right, and have the right marketing in place, you will sell quickly and for close to list price!  

If you have been looking for investment property, or property to flip, you feel like there's nothing out there, or only properties that are in need of more work than your looking for, be patient, there should be an increase in the number of potential flips and investments next year.  As some of this 'sub-prime' market loans find there way to foreclosures there should be some good stuff to pick from.  This is a dog-eat-dog part of real estate and you need an aggressive, informed agent to stay on top of the list and know whats coming on and be ready and able to move quickly. 

Lake property will continue to be desireable, but a more educated buyer is going to be price cautious, so pricing it right up front will lead to better results in the end.  Read my blog on overpricing and see why! 

The condo market is the one that is the unknown out there.  There are still developments going up and plenty of units to pick from.  Ground level, walk-in, lakefront, lakeview, 1/2/ and 3 bedroom units are everywhere....in other words the market will have to grow into the 'pool' of available units.  This is not really a concern as the units are desireable in finish and location and the overall desireablity of Hot Springs itself will help fill them up.  The real issue is boat-docks.  With Entergy electric companies new regulations on boat-docks there is a limited number of slips available, and new construction has stricter guidelines you must follow. 

Not the sausages either!

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Thanks, and I hope to hear from some of you!

Drew Riley Riley, REALTOR  Team Riley  Spa Realty, Inc., Inc., Inc.