Relocating for a job in Bentonville, AR (Fayetteville, Springdale: sales, real estate)

[mupkt]

I just found out that I will be relocating in February for a job in Bentonville, AR. I have done considerable research on the web regarding NWA and would like to live in either Bentonville or Rogers.

I am looking to spend between 200 - 275K on a property. The move will only be for 2 - 3 years (very short term for real estate), so a major concern is resell value. I know there is still quite a bit of new construction in the area.

Are there any subdivisions / specific areas that anyone would recommend that hold the property value particularly well?

What type of properties are in highest demand? 4bd / 3ba? Price range? et cetera.

Thank you in advance for your help!

[nmnita]

Originally Posted by mupkt

I just found out that I will be relocating in February for a job in Bentonville, AR. I have done considerable research on the web regarding NWA and would like to live in either Bentonville or Rogers.

I am looking to spend between 200 - 275K on a property. The move will only be for 2 - 3 years (very short term for real estate), so a major concern is resell value. I know there is still quite a bit of new construction in the area.

Are there any subdivisions / specific areas that anyone would recommend that hold the property value particularly well?

What type of properties are in highest demand? 4bd / 3ba? Price range? et cetera.

Thank you in advance for your help!

Either 3 or 4 bedrooms are always in demand, pricewise $150,000 to about $200,000 would be the best. I would settle for Bentonville, but both areas are nice. It is hard to say what will hold its value right now due to the economy. 3 years from now things could be 110% different, I would guess the economy will be better than now, but may go through a worse period before it gets better.

Nita

[USAwanderer]

Welcome to WM!!

If I were moving here, and knew I would only be here 2-3 years, I would plan to RENT the entire time.

There are houses here that have been on the market that long.

Unless you plan to lose a good bit of money when you sell, I would not bother with buying. Of course, there are plenty of foreclosed properties which you might get, but most will need some work to get liveable.

If you need further info, feel free to contact me.

[linicx]

Bentonville I think is the Walmart international office. I did not like Rodgers because the lots are small and the pricey houses were packed in like a New York tenaments. I don't like the area in general because there isn't much to see except traffic. We looked at houses there for months before we bought on Grand Lake in Oklahoma. The area in general has not improved; traffic is worse. Take a look at Fayetteville. The area in and around N. Crest Drive has always been a desireable location to live. In a normal economy these are houses that move fast. However, unless you can support two house payments, I would not buy any house now and try to flip it in two years unless it was the most desirable house in the best location and I am willing to pay a premium to own it.

It will probably take five -10 years for the housing market to fully recover. If I was going to buy today it it would be little Grove, OK., even though I prefer Fayetteville, because it has the tools and the city is progressive. The city fathers will not sit idly by and let the town decay. .

NW Arkansas is mountainious. Pay careful attention to speed, If a curve is marked 10mph don't try to beat the mortality schedule; 25mph can put you over the edge of a cliff in a 1000ft, free-fall without a chute. The only warning you get is the speed sign

Fayetteville has upscale shopping, mall and U of A. Tontitown (Itialian community) is west a few miles. North of Fayetteville is Pea Ridge National Civil War Battlefield. The War Eagle Mill is on the forest floor by a stream. There is also Eureka Springs and some lakes. NW Arkansas and Fayetteville lights up and dressed up for winter, but it is not for day-sailors; no wind. Siloam Springs, NW of Fayetteville, is also a descent town to live with strip malls and restaurants located on the main highway.

I did not live in Arkansas. I drew these conclusions from observations, from 25 years of visits and from conversations with friends who live in Fayetteville and Siloam Springs.

Fly into the regional airport. Check out Springdale, Tontitown, Siloam Springs, Fayetteville, and go for a lease with an option. You can always buy if you decide to stay in the area. As a whole NW AR is pretty awesome. And the girls are pretty.

[nmnita]

Originally Posted by linicx

Bentonville I think is the Walmart international office. I did not like Rodgers because the lots are small and the pricey houses were packed in like a New York tenaments. I don't like the area in general because there isn't much to see except traffic. We looked at houses there for months before we bought on Grand Lake in Oklahoma. The area in general has not improved; traffic is worse. Take a look at Fayetteville. The area in and around N. Crest Drive has always been a desireable location to live. In a normal economy these are houses that move fast. However, unless you can support two house payments, I would not buy any house now and try to flip it in two years unless it was the most desirable house in the best location and I am willing to pay a premium to own it.

It will probably take five -10 years for the housing market to fully recover. If I was going to buy today it it would be little Grove, OK., even though I prefer Fayetteville, because it has the tools and the city is progressive. The city fathers will not sit idly by and let the town decay. .

NW Arkansas is mountainious. Pay careful attention to speed, If a curve is marked 10mph don't try to beat the mortality schedule; 25mph can put you over the edge of a cliff in a 1000ft, free-fall without a chute. The only warning you get is the speed sign

Fayetteville has upscale shopping, mall and U of A. Tontitown (Itialian community) is west a few miles. North of Fayetteville is Pea Ridge National Civil War Battlefield. The War Eagle Mill is on the forest floor by a stream. There is also Eureka Springs and some lakes. NW Arkansas and Fayetteville lights up and dressed up for winter, but it is not for day-sailors; no wind. Siloam Springs, NW of Fayetteville, is also a descent town to live with strip malls and restaurants located on the main highway.

I did not live in Arkansas. I drew these conclusions from observations, from 25 years of visits and from conversations with friends who live in Fayetteville and Siloam Springs.

Fly into the regional airport. Check out Springdale, Tontitown, Siloam Springs, Fayetteville, and go for a lease with an option. You can always buy if you decide to stay in the area. As a whole NW AR is pretty awesome. And the girls are pretty.

sorry, I don't totally agree with you, yes, some houses have been on the market for a year or more, but they are overpriced, right now it is a buyers market and probably a good not bad time to buy as long as you watch what you are doing. As for checking out places like, Siloam Springs, Springdale and Tontitown, I really would hesitate about some of these towns if I were looking at property in the 200,000 price range.

As for hilly, really the hilly area is north of Bentonville for the most part, more into Bella Vista.

Nita

[mupkt]

Thanks for everyone's advice.

Right now I am planning to buy and will buy in either Rogers or Bentonville. Is there any specific neighborhoods that have held value well?

Thanks!

[bluenoter]

Originally Posted by mupkt

Thanks for everyone's advice.

Right now I am planning to buy and will buy in either Rogers or Bentonville. Is there any specific neighborhoods that have held value well?

Thanks!

This is a great time to buy real estate anywhere in NWA. There are a great deal of bargains, construction has almost halted, the population is still growing. NWA will come out much stronger than most other areas of the US due to how well Walmart is doing in this economic downturn.

[nmnita]

Originally Posted by bluenoter

This is a great time to buy real estate anywhere in NWA. There are a great deal of bargains, construction has almost halted, the population is still growing. NWA will come out much stronger than most other areas of the US due to how well Walmart is doing in this economic downturn.

I agree and to the OP, I would get on line, find a realtor and go from there. We have one that I highly recommend, but 1-can't post names on line, which I understand and 2-she works Bella Vista, I am not certain if she does anything in Bentonville. Again, if it were me I would choose Bentonville over Rogers, but only you can make that decision.

Nita

[ArkIll]

There are many houses in the area that are in the sheetrock finishing stage that have been foreclosed on. I'd look into these houses if you really must own, want to actually get a deal on the way in and at least break even on the way out.

These homes, or at least the ones I've seen, mostly need to be painted (some are already painted), have the interior doors installed, appliances put in, and have the flooring finished.

That's a lot of work, I know, but you'd probably come out ahead at the end.

[slacckk]

I remember reading, oh a year ago or so, that NWA was so overbuilt that there was something like 9 years of inventory available when you factored in the (slow) sale rates. Not sure if that was completely accurate or not. I *am* sure that sales are even slower now.

NWA was a real estate bubble, more than any place in AR. It'll be down for the foreseeable future, just like all other bubbly ( and not so bubbly ) areas.

Buy a house for a place to live if you must, but if you spend 200k+ you won't see any appreciation within your time frame. In fact, you'll probably be upside down.