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.