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Fayetteville - Springdale - Rogers Northwest Arkansas
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Old 01-09-2010, 10:06 PM
 
2 posts, read 8,529 times
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Hi! I've been reading these boards since a move to NWA became a possibility for my family a few months ago. Since the move is now a certainty, I would love to get any info/opinions on home sale / housing price trends for the Rogers/Bentonville area. We already realized a very large loss on the sale of a previous home 2 years ago which led us to rent the past 2 years. Though I am eager to own again, my husband is not. We would expect to be in NWA for about 3-5 years, have 3 young children and would plan to spend $500-$700K on a home. Can anyone please give info/thoughts on how much housing prices have declined in the past few years, and what the current trends are? I have seen some published data here and on various websites but I'd love more info - article links, opinions, etc. Thanks so much. We are looking forward to our move and I'm sure I'll have many more questions to come!
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Old 01-10-2010, 04:57 AM
 
Location: Bella Vista, Ark
77,771 posts, read 104,756,288 times
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Quote:
Originally Posted by oc3girls View Post
Hi! I've been reading these boards since a move to NWA became a possibility for my family a few months ago. Since the move is now a certainty, I would love to get any info/opinions on home sale / housing price trends for the Rogers/Bentonville area. We already realized a very large loss on the sale of a previous home 2 years ago which led us to rent the past 2 years. Though I am eager to own again, my husband is not. We would expect to be in NWA for about 3-5 years, have 3 young children and would plan to spend $500-$700K on a home. Can anyone please give info/thoughts on how much housing prices have declined in the past few years, and what the current trends are? I have seen some published data here and on various websites but I'd love more info - article links, opinions, etc. Thanks so much. We are looking forward to our move and I'm sure I'll have many more questions to come!
to be honest, Yes I dould buy but no, I wouldn't spend anything like that much on a home. The more you spend the harder it will be to sell when the time comes. Renting is fine, but it sounds like you are in the upper echilone thus it might be very hard to find something that would be right for you. The positive thing if you do decide to rent, some exc that have been transfered out of the NWA area haven't been able to sell so may have their places up for rent. Talk to a good realtor and see what is available in the rental market...Again, if you plan on being in the area 3 years or more it would be wise to buy, 2 or less years that would be a different situation.

If course this is just my opinion, take for what it is worth.
Nita
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Old 01-10-2010, 07:26 AM
 
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Thanks, Nita.
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Old 01-10-2010, 08:21 AM
 
731 posts, read 1,368,334 times
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There will be another real estate boom in Northwest Arkansas.
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Old 01-10-2010, 07:48 PM
 
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Originally Posted by bluenoter View Post
There will be another real estate boom in Northwest Arkansas.
I think this would be very unlikely for a long time, at least a few decades.
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Old 01-11-2010, 10:05 AM
 
Location: OKLAHOMA
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I wouldn't spend too much more than say the high end of middle class. we were transferred to Eastern OK 11 years ago and bought a cattle ranch which we do love. But we're now getting ready for retirement and might move. NWA is on our list too but back to what I was saying we bought the ranch thinking wow this is cheap comiing from a more expensive area and now I doubt if it would sell in a 100 years. Think of re sale unless you intend on being there forever!
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Old 01-11-2010, 12:49 PM
 
Location: Fort Smith, Arkansas
1,466 posts, read 4,360,632 times
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I concur with the others. You can get a lot of house in NWA for what you are wanting to spend, and the higher up you go the longer it will take to sell. If I were only staying for 3-5 years and I wanted to buy in this area, I would not spend more than 200K with only 3 children. You could probably get a steal on a house right now too. See what the banks have in their possession.
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Old 01-11-2010, 02:05 PM
 
602 posts, read 1,516,527 times
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Ditto the Dr. If you're not planning to stick around here, I wouldn't go to all the trouble of buying and selling.

I bet you could find a really nice long term rental. There are tons of empty homes just sitting all over NWA.
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Old 01-11-2010, 02:45 PM
 
Location: Bella Vista, Ark
77,771 posts, read 104,756,288 times
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Quote:
Originally Posted by Dr. Foosball View Post
I concur with the others. You can get a lot of house in NWA for what you are wanting to spend, and the higher up you go the longer it will take to sell. If I were only staying for 3-5 years and I wanted to buy in this area, I would not spend more than 200K with only 3 children. You could probably get a steal on a house right now too. See what the banks have in their possession.
well I might go a little higher than $200 depending on where you are looking, but not a lot more, maybe $250,000. I know here in BV our daughter just bought a home, 2600 sq ft, it does have a double lot, isn't on a lake and they spent $217,000.

Nita
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Old 01-12-2010, 06:26 AM
 
Location: OKLAHOMA
1,789 posts, read 4,343,807 times
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Quote:
Originally Posted by nmnita View Post
well I might go a little higher than $200 depending on where you are looking, but not a lot more, maybe $250,000. I know here in BV our daughter just bought a home, 2600 sq ft, it does have a double lot, isn't on a lake and they spent $217,000.

Nita
So your daughter is moving by you, that is great!
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