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Old 03-30-2016, 07:17 AM
 
643 posts, read 471,239 times
Reputation: 532

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My wife and I bought land near HSV. 4.5 acres nice view public water cable internet. The land last sold for 25k we bought for 18k. We see homes are declining in value still in the area and maybe its a good idea to buy an existing home, so now how do you get out of the land? Vacant land is not selling in Arkansas from what we are seeing. The housing market is still down in Arkansas. We have had it for sale for a few months but I also know that about now to next month is when season comes on. If anyone has a pulse on the property market in the area please bring me up to speed. My real estate agent is fine but several view points are always good to cross ref.
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Old 03-30-2016, 08:57 AM
 
3,020 posts, read 8,610,944 times
Reputation: 3283
You haven't stated any negatives about the land, only that the market is going down. Lower the price. There is ALWAYS a price point that the market will react to, that overcomes any and all negatives that the property may have. You just haven't found it yet.
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Old 03-30-2016, 09:35 AM
 
643 posts, read 471,239 times
Reputation: 532
Quote:
Originally Posted by ETex2 View Post
You haven't stated any negatives about the land, only that the market is going down. Lower the price. There is ALWAYS a price point that the market will react to, that overcomes any and all negatives that the property may have. You just haven't found it yet.
The pros are fantastic ridge view,no HOAs, about 2 miles from HSV and 12 from HS. Paved road semi private community. Cons the lot is a bit narrow so it limits the size of home you can put on it. Its a small ridge of build-able land of of a ridge. It still would be easy to put a 13 to 1800sf home on it.
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Old 04-01-2016, 05:07 AM
 
Location: Bella Vista, Ark
77,771 posts, read 104,663,155 times
Reputation: 49248
Quote:
Originally Posted by vicarjoe View Post
The pros are fantastic ridge view,no HOAs, about 2 miles from HSV and 12 from HS. Paved road semi private community. Cons the lot is a bit narrow so it limits the size of home you can put on it. Its a small ridge of build-able land of of a ridge. It still would be easy to put a 13 to 1800sf home on it.
Land does not appreciate at the same rate as homes and you did purchase pretty much in what many would say the middle of nowhere. It sounds like, if you can afford it, you would be better off to purchase a home and keep the vacant land for now: sooner or later it will be salable. I did notice you said vacant land is not selling well in AR, you are right. That is because there is so much of it. As for your comment about the housing market: this many be true in the Hot Springs area I don't know, but in NWA the market is 8 doing quite well. Average, is back up to the prices thing were welling for just before the 2008 slump started.
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Old 04-01-2016, 06:56 AM
 
643 posts, read 471,239 times
Reputation: 532
The reason vacant land is not doing well is because building cost to buying a home existing is so far apart right now. Home prices are down to what it cost to build. The only reason we bought land was we liked the idea of having a few acres in a subdivision. The land in the sub runs from 3 to 20 acres.
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Old 04-01-2016, 07:22 AM
 
Location: Bella Vista, Ark
77,771 posts, read 104,663,155 times
Reputation: 49248
Quote:
Originally Posted by vicarjoe View Post
The reason vacant land is not doing well is because building cost to buying a home existing is so far apart right now. Home prices are down to what it cost to build. The only reason we bought land was we liked the idea of having a few acres in a subdivision. The land in the sub runs from 3 to 20 acres.
Sounds like a wonderful reason for buying land and yes, you are right, it is cheaper to buy already built, but I think this has always been the case.
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Old 04-01-2016, 08:38 AM
 
Location: Northern Wisconsin
10,379 posts, read 10,907,004 times
Reputation: 18713
You need to supply some information to help us help you.

Did you buy the land strictly as an investment?
Did you purchase to put a retirement home or a vacation home on the property?
Is it a hideout and getaway from the world?

Without this info, its hard to help. But I will say that land is always a good LONG TERM investment. But in general it is not for a quick buck. I wouldn't be concerned about short term fall in prices. Depending on many conditions, it may well go up again in value in the future.
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Old 06-29-2016, 06:47 PM
 
8,924 posts, read 5,621,220 times
Reputation: 12560
I've got land in a nice area and it's been up for sale for at least 6 years. Despite reducing the price several times. Beautiful walk to lake and mountain views. Still can't find a buyer. It does have an HOA and rules about home square feet minimum. No cabins, trailers etc. maybe, it's putting people off? Just to let you know you aren't alone....
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Old 07-06-2016, 07:08 AM
 
Location: OK
2,825 posts, read 7,541,867 times
Reputation: 2056
Much depends on where it is located. I don't know what HSV stands for.
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Old 07-06-2016, 08:12 AM
 
Location: Seattle Area
1,716 posts, read 2,034,002 times
Reputation: 4146
Quote:
Originally Posted by Annemieke Roell View Post
Much depends on where it is located. I don't know what HSV stands for.
Hot Springs Village (HSV)
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