Time to buy?
Really, is this the right time for you to buy a home? Well honestly only you can decide that, but with interest rates at all time lows, and inventory of available homes reaching all time highs, as your REALTOR I must advise you that this IS a good time to be looking at purchasing a home.
Most renters can find comparable if not better accommodations for equal or less than the current rent they are paying. Foreclosures and tax sales are growing in numbers and there are some great buys out there if your the "savvy" investor type too. So is this the right time to buy a house?
With upcoming and current tax breaks and incentives, and plenty of mortgage programs that still allow "no-money down" loans, you still have great chances of finding a newer or completely remodeled older home that will give you years of trouble free living.
Hot Springs never has really fit a mold when it comes to the real estate market. You surely have read or heard on the news about a "mortgage crisis" or the "downfall of the Real Estate market." OK, so I can't say things haven't slowed down, and in some areas maybe there is a "crisis" or "downfall," but in Hot Springs we just haven't seen the sky falling. Yes buyers have taken all the national news in and perhaps play their cards close at hand, but they still have needs, a growing family, a new job, the need for more space, or desire for a better yard....and those needs will keep the market moving. Along with upcoming economic growth and additional jobs, a recent "A-" grading of local schools, good city planning, and a safe wholesome enviroment.....Hot Springs is on the verge of busting out of the "sleepy" little valley town mystique, and turning itself into one of the premiere destinations in the South, or even the U.S.
So what makes Hot Springs different??? First off, its a great place to live. Secondly, upcoming economic growth and possible legalized gaming have spurred a nationwide "spotlight" on the Spa city....people have always heard of this little town in Arkansas, but now many will flock to see it....and some of those will want to move and live here. So is now the right time to buy? Ask yourself that question. Whether you rent currently or already own a home, the need for future house buying will arise, question is will you be ahead of the curve, or following behind it.