Current Real Estate Market - July 2020

[kenpo]

Originally Posted by biscuitmom

Welcome, new poster.
Can't speak for BV/Bentonville but my Fayetteville neighborhood continues to favor sellers & indeed supply is dwindling. We expected downturns but so far, for whatever reason, that's not happening.

Thanks and happy to be here. I've been planning a move to NWA for years and I deeply appreciate those of you that take the time to post. :-)

[Tyryztoll]

We've been tracking the NWA real estate market for many years now and from what we're seeing you better grab something while you can unless you have buku bucks to spend. Bentonville in particular has gone way up and seeing a ton of stuff (4BR/2BA) over 300K through there now. Centerton is obviously the new hot spot for cheaper housing in that area with lots of new builds and you still get Bentonville schools, so that's nice.

[nmnita]

Originally Posted by vcvs

Selling?? Are you leaving Bella Vista?

Absolute not until the guy upstairs calls me or maybe the one downstairs. Hope it is the one up stairs. We do realize as we are aging and mobility is becoming an issue we may need to down size or even consider senior living like Concordia but certainly not until all the COVID situation becomes a thing of the past. I could not stand, nor could hubby being isolated for months like many have been. We have people at our church who have not been able to even attend service for months and have hardly seen their families. We are not ready for that...

[nmnita]

Originally Posted by biscuitmom

Welcome, new poster.
Can't speak for BV/Bentonville but my Fayetteville neighborhood continues to favor sellers & indeed supply is dwindling. We expected downturns but so far, for whatever reason, that's not happening.

My daughter has a friend in FAyetteville who had 22 showing on their home in less than 2 days and got 7 offers; all over the asking price. Our niece, in So Ca (LA area) sold her 1300 sq ft house which is just slightly updated and in a neighbor that is iffy, for $657,000.00 in less than a week. The house was built in the 1950s and very much a typical tract home.

[vcvs]

Originally Posted by nmnita

Absolute not until the guy upstairs calls me or maybe the one downstairs. Hope it is the one up stairs. We do realize as we are aging and mobility is becoming an issue we may need to down size or even consider senior living like Concordia but certainly not until all the COVID situation becomes a thing of the past. I could not stand, nor could hubby being isolated for months like many have been. We have people at our church who have not been able to even attend service for months and have hardly seen their families. We are not ready for that...

Glad to hear you ain't leaving BV. I plan to stay here a few more years (unless the POA runs me off sooner . We have some land and may build a small cabin on in a few years, but even at that, I'll stay invested in Bella Vista. Counting the townhome we just closed on, we now have 3 properties here. We plan to Airbnb, or otherwise short term rental them. It seems BV has always been a vacation destination, but now with the Mountain Bike trails (and many more miles coming), I think the short term rental market will continue to grow, or at least I hope. I may start a thread here soon discussing that topic.

BTW, the townhome we have is a 2/3, with covered parking, 1450 sq-ft, all on one level. If you guys decide to sell sooner and need a place to stay in the short term, let me know. We plan to rent it out for a year or longer until we get ready to airbnb it.

[nmnita]

Originally Posted by vcvs

Glad to hear you ain't leaving BV. I plan to stay here a few more years (unless the POA runs me off sooner . We have some land and may build a small cabin on in a few years, but even at that, I'll stay invested in Bella Vista. Counting the townhome we just closed on, we now have 3 properties here. We plan to Airbnb, or otherwise short term rental them. It seems BV has always been a vacation destination, but now with the Mountain Bike trails (and many more miles coming), I think the short term rental market will continue to grow, or at least I hope. I may start a thread here soon discussing that topic.

BTW, the townhome we have is a 2/3, with covered parking, 1450 sq-ft, all on one level. If you guys decide to sell sooner and need a place to stay in the short term, let me know. We plan to rent it out for a year or longer until we get ready to airbnb it.

Thanks and that would be just what we would be looking for. Actually we have thought about a town house but most are 2 levels which would not work. Time will tell what we will do. For now I just want to get over the virus crap and hope all my friends and my family stay healthy.

[tocohara]

Originally Posted by vcvs

Glad to hear you ain't leaving BV. I plan to stay here a few more years (unless the POA runs me off sooner . We have some land and may build a small cabin on in a few years, but even at that, I'll stay invested in Bella Vista. Counting the townhome we just closed on, we now have 3 properties here. We plan to Airbnb, or otherwise short term rental them. It seems BV has always been a vacation destination, but now with the Mountain Bike trails (and many more miles coming), I think the short term rental market will continue to grow, or at least I hope. I may start a thread here soon discussing that topic.

BTW, the townhome we have is a 2/3, with covered parking, 1450 sq-ft, all on one level. If you guys decide to sell sooner and need a place to stay in the short term, let me know. We plan to rent it out for a year or longer until we get ready to airbnb it.

Full-time residents are much preferable than transient crowds.

[vcvs]

Originally Posted by tocohara

Full-time residents are much preferable than transient crowds.

Bella Vista AR was born to “Transient crowds”. It started as a vacation destination. And throughout the years it has remained as such. Now with the biking trails and the growth of Bentonville, it will continue to be a vacation destination. And I plan to capitalize on that. We are looking for another property as I type this. Looking forward to hosting the “transient crowds”!

[kenpo]

tl;dr Couple in their late 40s from CA finds beautiful land and people in NWA.

Thread update: We bought land in Bentonville and have decided to build. We're about 7 minutes from the town square and very close to Compton Gardens and all those incredible cycling trails.

Fun story. I actually found the land while out on a bike ride. I was rolling around in this beautiful area admiring the landscape and well appointed homes. The area reminded me a lot of a famous cycling area in Silicon Valley called Woodside that sits above Palo Alto, just across from the 280 freeway and is populated with horse stables, large estates and lots of venture capitalists. It's an area many Silicon Valley entrepreneurs dream of own in.

Being new to NWA (I had only been in town 2 days), I promptly got myself lost. Eventually I stopped to check the map on my phone and this nice lady pulls up to ask if I needed help. Did I see a snake? Was I lost? We chat for a bit and I mention how lovely the area was. She mentions she has land for sale and jokingly asks if I I'd like to be her neighbor. We laugh a little and she informs me her husband is down the road on his tractor, if I wanted to see the land.

A week later we are in escrow and, get this, the husband of that nice lady happens to know a thing or two about home building and has happily agreed to consult for me on my project.

...all the while, my colleagues in the Bay Area high-tech scene snicker about my move to NWA. ;-)

[nmnita]

Originally Posted by kenpo

tl;dr Couple in their late 40s from CA finds beautiful land and people in NWA.

Thread update: We bought land in Bentonville and have decided to build. We're about 7 minutes from the town square and very close to Compton Gardens and all those incredible cycling trails.

Fun story. I actually found the land while out on a bike ride. I was rolling around in this beautiful area admiring the landscape and well appointed homes. The area reminded me a lot of a famous cycling area in Silicon Valley called Woodside that sits above Palo Alto, just across from the 280 freeway and is populated with horse stables, large estates and lots of venture capitalists. It's an area many Silicon Valley entrepreneurs dream of own in.

Being new to NWA (I had only been in town 2 days), I promptly got myself lost. Eventually I stopped to check the map on my phone and this nice lady pulls up to ask if I needed help. Did I see a snake? Was I lost? We chat for a bit and I mention how lovely the area was. She mentions she has land for sale and jokingly asks if I I'd like to be her neighbor. We laugh a little and she informs me her husband is down the road on his tractor, if I wanted to see the land.

A week later we are in escrow and, get this, the husband of that nice lady happens to know a thing or two about home building and has happily agreed to consult for me on my project.

...all the while, my colleagues in the Bay Area high-tech scene snicker about my move to NWA. ;-)

Heck, even our friends in NM could not understand why we would move to AR. People do not understand we are the diamond in the ruff.