Bentonville, AR Real Estate News

By James Dray, Exceptional Agents, Outstanding Results
(Fathom Realty)
When you were young (I'm still that way at heart) and you went up against someone you knew was better at sports what did you do.  Did you tell yourself I'll never be as good as Sally, Bill or whoever if so then I bet you lost the contest?  How about in real estate when you know you're going against what you think is a better listing agent or buyer's agent.  As Nancy Grace would say BAREAKING NEWS!!!! You are just as good if not even better but screw your head on right and get that listing or make that sell.  Believe in yourself and no one can defeat you.  It's a great day to buy or sell a home. Visit me at www.sellnwa.com    
Comments 3
By Cody Burnett, Real Estate Pro
(Connect Realty)
http://codyburnett.wordpress.com/2010/05/14/foreclosures-govt-action-and-the-recovery/ Economist Dean Baker, co-director of the Center for Economic and Policy Research, says federal programs have led to an artificial stabilization in the market. In order to deal with the glut of distressed properties, he feels people facing foreclosure should be allowed to stay in their homes as renters until they can renegotiate their mortgage. Add a comment to this post: http://codyburnett.wordpress.com/2010/05/14/foreclosures-govt-action-and-the-recovery/#respond --
Comments 0
By Cody Burnett, Real Estate Pro
(Connect Realty)
According to The Department of Commerce's April report on new residential construction, (http://www.census.gov/const/newresconst_201004.pdf) housing starts jumped 40.9 percent from last year and 5.8 percent above the month before. Ian Shepherdson, chief U.S. economist at High Frequency Economics, said increased demand from the home buyer tax credit lifted construction but its expiration has homebuilders wary, noting the 11.5 percent drop in building permits. Despite the drop in permits, which suggests starts will also fall off this summer, a recent report from the National Association of Home Builders (http://nahb.com/news_details.aspx?newsID=10676) showed builder confidence at a 2-1/2 year high. More here (http://www.housingwire.com/2010/05/18/housing-starts-up-but-permits-drop-in-sign...
Comments 0
By Cody Burnett, Real Estate Pro
(Connect Realty)
The housing market's current mix of ups and downs has experts and industry insiders forecasting a variety of possible outcomes over the next few months and beyond. The shadow inventory looms large among many factors influencing whether the recent stretch of stability continues or the market takes a downturn. Estimates of the number of homes that are ready to sell but haven't been put on the market vary. A recent report from Barclays Capital says the shadow inventory will peak this summer and begin falling as the market stabilizes. But with an estimated 4.5 million homes potentially hitting the market over the next few years, an orderly pace is required to prevent flooding the market and driving prices down again. More here (http://www.dsnews.com/articles/threat-of-shadow-inventory-dimin...
Comments 0
By Cody Burnett, Real Estate Pro
(Connect Realty)
The number of homes for sale in 27 major metropolitan areas was up 2.6 percent in April from a month earlier, according to ZipRealty. The figures, which cover all single-family homes, condominiums, and town houses listed for sale, showed April's inventory down 9.6 percent from a year ago but doesn't take into account the supply of potential foreclosures that may hit the market this year. Zillow.com reports the percentage of available homes that cut their asking price also rose. According to the website, nearly one in four homes dropped their asking price in April, though the median price cut was down to 6.3 percent from 6.5 percent in March. More here (http://www.reuters.com/article/idUSTRE6434AQ20100504) and here (http://blogs.wsj.com/developments/2010/05/06/housing-inventory-rises-in-...
Comments 2
By Cody Burnett, Real Estate Pro
(Connect Realty)
In the final week of the home buyer tax credit, demand for loan applications jumped 13 percent to a seven-month high. According to The Mortgage Bankers Association's Weekly Applications Survey (http://www.mbaa.org/NewsandMedia/PressCenter/72721.htm), purchase applications were up for the third consecutive week, rising almost 24 percent over the month before. Also, the average contract interest rate for 30-year fixed-rate mortgages fell to 5.02 percent, the lowest rate since mid-March. More here (http://www.reuters.com/article/idUSTRE63R1U620100505) and here (http://www.calculatedriskblog.com/2010/05/mba-mortgage-purchase-applications.html).
Comments 0
By Cody Burnett, Real Estate Pro
(Connect Realty)
According to The National Association of Realtors' Pending Home Sales Index (http://www.realtor.org/press_room/news_releases/2010/05/phs_upswing), sales agreements for previously occupied homes rose 5.3 percent to 102.9 from 97.7 in February. It's the highest level since October and 21.1 percent above March 2009. Lawrence Yun, NAR's chief economist, said affordability and the home buyer tax credit have combined to produce a surge of spring home sales. Yun believes sales will drop in the months ahead but will likely become self-sustaining if the economy adds jobs in the second half of the year. The Pending Sales Index is a leading indicator for the housing market. More here (http://www.msnbc.msn.com/id/36937609/ns/business-real_estate/), here (http://www.calculatedriskblog.com/2010/05/pe...
Comments 0
By Cody Burnett, Real Estate Pro
(Connect Realty)
For months, analysts and industry experts have debated how the expiration of the tax credit will effect the housing market. But, according to a recent survey conducted by Prudential Real Estate and Relocation Services (http://www.reuters.com/article/idUSN279816420100428), consumers are optimistic about real estate. The survey found that 46 percent of potential buyers expected prices to increase over the next year and 20 percent expect significant increases over the next five years. 65 percent of those polled said the end of the tax credit would have little or no effect on their decision to purchase a home. James Mallozzi, Prudential Real Estate's chairman and chief executive officer, said the survey shows that most consumers believe the market has hit bottom and are optimistic about the...
Comments 0
By Cody Burnett, Real Estate Pro
(Connect Realty)
According to the Standard & Poor's/Case-Shiller Home Price Indices (http://www.standardandpoors.com/spf/docs/case-shiller/CSHomePrice_Release.pdf), home prices posted their first annual increase in three years. S&P's 10-city index was up 1.4 percent from February 2009 and the 20-city index was up 0.6 percent. Despite the year-over-year gains, David Blitzer, chairman of the S&P index committee, warned that it's too early to say the market is recovering. Home prices are up 3 percent from their bottom, but are still down more than 30 percent from their 2006 peak. More here (http://www.reuters.com/article/idUSTRE63Q26720100427) and here (http://www.msnbc.msn.com/id/36799404/ns/business-real_estate/). http://codyburnett.files.wordpress.com/2010/04/dollarsign3.jpg
Comments 0
By Cody Burnett, Real Estate Pro
(Connect Realty)
In March, sales of new single-family homes were up 26.9 percent over February's rate, according to estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development (http://www.census.gov/const/newressales.pdf). The jump was the largest monthly increase in 47 years and is 23.8 percent above last year's estimate. Also, the median sales price of new homes was $214,000 with an average price of $258,600. More here (http://www.msnbc.msn.com/id/36735173/ns/business-real_estate/) and here (http://www.housingwire.com/2010/04/23/new-home-sales-soar-nearly-27-in-march/).
Comments 0
By Cody Burnett, Real Estate Pro
(Connect Realty)
http://codyburnett.wordpress.com/2010/04/23/housing-fundamentals-more-up-than-down/ James O'Sullivan, chief economist at MF Global Ltd., argues that, though recent spikes in sales are exaggerated by the tax credit, the housing market's fundamentals are more up than down.
Comments 0
By Cody Burnett, Real Estate Pro
(Connect Realty)
With the national median existing-home price nearly unchanged from last year and time running out on the home-buyer tax credit, existing-home sales rose 6.8 percent in March, according to a report from The National Association of Realtors (http://www.realtor.org/press_room/news_releases/2010/04/ehs_favorable). Sales, up 16.1 percent from March 2009, have been above year-ago levels for nine straight months. Lawrence Yun, NAR's chief economist, said price stabilization should lead to a revival in buying confidence, which will help the market rebound after the tax credit impact disappears. More here (http://www.msnbc.msn.com/id/36711659/ns/business-stocks_and_economy/) and here (http://money.cnn.com/2010/04/22/real_estate/March_existing_home_sales/index.htm).
Comments 0
By Cody Burnett, Real Estate Pro
(Connect Realty)
According to The Mortgage Bankers Association's Weekly Mortgage Applications Survey (http://www.mbaa.org/NewsandMedia/PressCenter/72597.htm), the average contract interest rate for 30-year fixed-rate mortgages fell from 5.17 percent to 5.04 percent last week. Total loan application volume was up 13.6 percent from the week before, with the Refinance Index up 15.8 percent and the Purchase Index increasing 10.1 percent. Michael Fratantoni, MBA's vice president of research and economics, said purchase applications continue to rise as the expiration of the home-buyer tax credit approaches. More here (http://www.housingwire.com/2010/04/21/mortgage-application-activity-mixed/) and here (http://www.reuters.com/article/idUSTRE63D1KF20100421).
Comments 0
By Cody Burnett, Real Estate Pro
(Connect Realty)
According to The National Association of Realtors' 2009 Profile of Home Buyers and Sellers (http://www.realtor.org/press_room/news_releases/2009/11/survey_record), first-time home buyers accounted for 47 percent of all home sales last year. That was the highest market share on record, passing the previous high of 44 percent in 1991. This March, based on a survey from Campbell/Inside Mortgage Finance (http://www.reuters.com/article/idUSTRE63I31L20100419), 48.2 percent of purchases were first-time buyers. Thomas Popik, research director for Campbell Surveys, said, though many analysts felt the pool of first-time buyers had been depleted last fall, normal spring buying, combined with the tax credit, produced blow-out results. More here (http://www.housingwire.com/2010/04/19/first-time-buye...
Comments 2
RISMEDIA, April 17, 2010-BBVA Compass recently released a new survey on first-time home buyers indicating that, prior to purchase, a vast majority of first-time home buyers (88%) believe they have accounted for all expenses related to owning a home. Seemingly contradicting that notion, amongst those who had purchased a home in the past 12 months, just over half indicate the expenses were more than they had calculated, causing a change in lifestyle. These results came from the BBVA Compass First-Time Home Buyers Online Survey which polled American consumers about the thoughts, emotions and hurdles related to owning and enjoying a first home. Regarding potential first-time home buyers, key findings included:-Nearly one third have anxiety over the affordability of owning a home.-7 in 10 in...
Comments 1
By Cody Burnett, Real Estate Pro
(Connect Realty)
http://codyburnett.wordpress.com/2010/04/16/encouraging-signs-for-housing-recovery/ Ron Phipps, president-elect of The National Association of Realtors, is optimistic about the housing market and encouraged by stabilizing prices, recent increases in sales activity, and better unemployment numbers.
Comments 3
By Erelopro Out of Business, Relocation Professionals are out of business
(erelopro)
It's amazing how bombarded we have become over the last few months with prospective home buyers wanting to contact us in regards to purchasing homes in the Bentonville area. We all know that the Home Buyers Credit is due to expire very soon, and due to this a lot of people are scrambling to get in contact with an aggressive buyers agent. A good amount of these people need assistance now, to be able to buy their homes as soon as possible. These people truly need an agent whom has the time and experience to respond to these inquiries. We have learned that persistence has proven to pay dividends with these inquiring families and individuals. If you are serious about having the ability to increase the amount of prospective home buyers you contact each month, we would love the chance to talk...
Comments 0
By Cody Burnett, Real Estate Pro
(Connect Realty)
With the spring selling season underway and many of the government programs aiding the ailing housing market expiring, experts and industry insiders have differing opinions on where housing's headed. Warmer weather typically boosts buyer traffic and, according to the National Association of Realtors spokesman Walter Molony (http://www.reuters.com/article/idUSTRE6374OD20100408), housing could become self-sustaining with a significant sales surge followed by job creation in the second-half of the year. On the other hand, Robert Shiller (http://www.nytimes.com/2010/04/11/business/economy/11view.html?scp=1&sq=shiller&st=cse), co-founder of the Case-Shiller Home Price Index, argues that, despite recent momentum, there isn't enough evidence to support the optimism among many economic forecast...
Comments 0
By Nicky Dou, The BEST REAL ESTATE AGENT in Northwest Arkansas
(Collier & Associates)
Oxford Ridge in Bentonville, Arkansas is a great, established neighborhood that has a "sense of community". Oxford Ridge has an active POA that has fun events each month for the members ("Ladies Bunko Night", "Guy's Poker Night") as well as events throughout the year including an Easter Egg Hunt, Neighborhood garage sales twice a year and much more. The POA dues for Oxford Ridge are $440/year & includes the swimming pool, playground, basketball courts, sand volleyball & a covered pavilion with a grill. You can review the Covenants for Oxford Ridge here. There is also an Architectural Committee and Guidelines (click here to review). The homes in Oxford Ridge range in size from around 1825 to over 3200. As of April 2nd, 2010 there are currently 8 homes for sale and 2 that have a contract ...
Comments 1
By Erelopro Out of Business, Relocation Professionals are out of business
(erelopro)
Bentonville, Arkansas Realtor Leads - (800) 900-2807 Even through this Real Estate downward spin, we are still seeing an increased number of families relocating to cities such as: Phoenix, Seattle, Bentonville, etc… Still the #1 drive is jobs, and that cannot be disputed. Although another big reason for relocation that started in 2008, was due to great foreclosure prices. Cities such as Dallas, and Bentonville have both seem dramatic drops in real estate prices, which is driving the people to purchase real etate in those cities. If you are not working with families whom want to purchase foreclosed homes, you are leaving a huge chunk of money on the table. One of the top discussions right now on RealTown and ActiveRain is in regards to boosting your business with foreclosures. Call us at...
Comments 0