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Fayetteville - Springdale - Rogers Northwest Arkansas
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Old 09-01-2020, 12:05 PM
 
42,492 posts, read 26,544,475 times
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Quote:
Originally Posted by sub View Post
I know it's not just a few houses here and there and it's just the market, but I fail to see what's driving those kinds of prices.
Even with a decent job market and fast growth, the market still seems inflated. When I lived in the rural areas in the region, locals were complaining about real estate prices being driven higher due to what transplants were willing to pay which was far beyond what those prices would have been otherwise. That's just the way it goes, unfortunately, and it seems to occur all over the country. Sure seems to be the case of the little 1k sqft half-million dollar house in... Fayetteville Arkansas.
Believe me, I think the prices are insane. I am thrilled that I bought my 1100 sf fifteen years ago, since it has now doubled in value. I do think locals are being priced out of the market, not just in terms of buying houses, but rent prices have been increasing as well. That's why my friend is house-shopping. Her rent keeps going up and up, and she has the money for a down payment, but smaller houses that she can afford are just being snapped up. She's been involved in two bidding wars on houses, and, frankly, the whole writing an essay about why you should get the house, along with your offer, just bugs the heck out of me.
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Old 09-01-2020, 12:33 PM
 
Location: Bella Vista, AR
234 posts, read 89,587 times
Reputation: 375
Quote:
Originally Posted by DC at the Ridge View Post
That's good to know. Nothing in my link shows that. Where did you find this out?
Same link.. Under "property details" describes it, and also the pictures show all the properties together.
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Old 09-01-2020, 12:50 PM
 
Location: Bella Vista, Ark
77,813 posts, read 91,603,567 times
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Quote:
Originally Posted by DC at the Ridge View Post
I appreciate what you are saying, but property in Northwest Arkansas is going for a premium price. Even in smaller communities, like Prairie Grove or Elm Springs. I have a friend, an older woman, looking for a house right now. And anything under $200,000 is selling so fast, it's generally gone within 2 days of being listed. Houses that were $150,000 in 2018 are selling for an average $300,000. Bella Vista still has some affordability, but you have to figure in the POA dues, too.

The houses in Fayetteville's historical district have always commanded a premium. And the one I like so much will probably sell very fast at the price point it's listed at. It's not a house here and there taking advantage of outsiders. It's what the market is like in Northwest Arkansas.
DC yes, you are right, BV is still relatively affordable but even then, anything under $200,000 normally is gone almost before it hits the market. Of course this depends on updates and overall condition.
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Old 09-01-2020, 01:00 PM
 
42,492 posts, read 26,544,475 times
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Originally Posted by vcvs View Post
Same link.. Under "property details" describes it, and also the pictures show all the properties together.
Thanks. I suppose each property is taxed independently, I wonder how they value each property for assessment.
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Old 09-01-2020, 01:04 PM
 
Location: Bella Vista, Ark
77,813 posts, read 91,603,567 times
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Here we are; all talking about the property values here and how they have sky rocketed in the past decade or so. Well, this certainly is not limited to NWA. My niece, in a suburb of Los Angles, very working class neighborhood owned a home that is 1300 sq feet: Very few upgrades, built in the 50s for the returning vets. As I ssid, not much in the way of upgrades. They did put central air in about 2 years ago and new windows. The bathrooms have not been upgraded, not the kitchen except new appliances: still old formica counters: went on the market for $659,000, sold it in barely a week or $679.000 all cash. it is happening everywhere.
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Old 09-01-2020, 01:30 PM
 
Location: Bella Vista, AR
234 posts, read 89,587 times
Reputation: 375
Quote:
Originally Posted by nmnita View Post
Here we are; all talking about the property values here and how they have sky rocketed in the past decade or so. Well, this certainly is not limited to NWA. My niece, in a suburb of Los Angles, very working class neighborhood owned a home that is 1300 sq feet: Very few upgrades, built in the 50s for the returning vets. As I ssid, not much in the way of upgrades. They did put central air in about 2 years ago and new windows. The bathrooms have not been upgraded, not the kitchen except new appliances: still old formica counters: went on the market for $659,000, sold it in barely a week or $679.000 all cash. it is happening everywhere.
Indeed, it's everywhere. I keep up with the real estate market back home in Georgia. Houses in my old neck of the woods aren't worth what they are currently bringing, in my opinion. My old house there sold for around 250k about 6 years ago. Zillow has it valued at 325k right now.

Here in Bella Vista we were looking to purchase another townhome (investment), but we are about to be priced out of the market. As of today, Realtor has 26 Bella Vista Townhomes listed for sale on the MLS. Out of the 26 listed, 25 of them are in pending status. The one not pending is overpriced in my opinion, but I am sure it will go pending over the next 48 hours.
BTW.. the townhome we bought a few months ago is rented, we put it up for rent and had many folks apply within the first 24-hours. Out of the top 3 qualified applicants, 2 of them were relocating from CA. We rented it to a lady (retiree) from CA who is looking for lower cost of living, and said she has friends here who recently moved here, also from CA. I love all the folks from CA! (but please don't bring the high cost of living with you

CrazyCatCoupleSD... sorry for high jacking your thread!
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Old 09-01-2020, 04:50 PM
 
Location: San Diego
22 posts, read 10,612 times
Reputation: 63
Quote:
Originally Posted by vcvs View Post
Indeed, it's everywhere. I keep up with the real estate market back home in Georgia. Houses in my old neck of the woods aren't worth what they are currently bringing, in my opinion. My old house there sold for around 250k about 6 years ago. Zillow has it valued at 325k right now.

Here in Bella Vista we were looking to purchase another townhome (investment), but we are about to be priced out of the market. As of today, Realtor has 26 Bella Vista Townhomes listed for sale on the MLS. Out of the 26 listed, 25 of them are in pending status. The one not pending is overpriced in my opinion, but I am sure it will go pending over the next 48 hours.
BTW.. the townhome we bought a few months ago is rented, we put it up for rent and had many folks apply within the first 24-hours. Out of the top 3 qualified applicants, 2 of them were relocating from CA. We rented it to a lady (retiree) from CA who is looking for lower cost of living, and said she has friends here who recently moved here, also from CA. I love all the folks from CA! (but please don't bring the high cost of living with you

CrazyCatCoupleSD... sorry for high jacking your thread!
LOL, no worries at all! I'm enjoying reading people's experiences I have seen the same pretty much everywhere, too. Even in Tyler, TX, which is quite affordable, I'm seeing huge price increases on homes. My sister lives north of Austin, and her condo has gone up by like 50% in the last 10 years!
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Old 09-02-2020, 01:09 AM
 
11,142 posts, read 9,010,542 times
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Quote:
Originally Posted by CrazyCatCoupleSD View Post
Where in NE TX are you from, just curious?
Paris, in Lamar county.
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Old 09-02-2020, 01:35 AM
 
11,142 posts, read 9,010,542 times
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Quote:
Originally Posted by nmnita View Post
Good and amazing to hear you have found the medical care better than in DFW. We are very happy with the care we have gotten here, but I don't think it is better than what we had in Texas. I am glad to here of your experience.
The "better" for us is about how stellarly medical providers here coordinate & handle referrals & insurance.
Back in DFW we were left to handle that stuff on our own, it was 'buyer beware', it's up to you. Here, the folks at Washington Regional went to bat for our son & worked tirelessly to ensure not only that he rec'd best care but that payment for said care was coordinated seamlessly.

Also kudos to the trauma surgeon & team who handled our son's accident on a late monday night - Washington Regional is a level 2 trauma center. Kudos too, to the remarkable hand surgeon who stepped in a few days later & we found out is renowned. (fwiw, a year later our son, sans one leg and 2 partially amputated hands is today living his best, independent life).
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Old 09-02-2020, 05:47 AM
 
Location: Bella Vista, Ark
77,813 posts, read 91,603,567 times
Reputation: 48828
That's great and I am impressed
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