Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Arkansas > Fayetteville - Springdale - Rogers
 [Register]
Fayetteville - Springdale - Rogers Northwest Arkansas
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 01-11-2024, 06:31 AM
 
3 posts, read 4,037 times
Reputation: 19

Advertisements

I work in the title industry in NWA. Home sales have slowed down quite a bit. The amount of building apts. Condos and homes is still going on. There are a lot of speculation building going on. On Walton over by the home office there are so many 4 and 5 story complexes going up its insane. I see price drops in Pea Ridge that we have not seen since before Covid. Property is sitting on the market unlike before where it would sell before it hit the MLS.



It was not possible to sustain. Home prices went from 175k for a 1700sf home to 350k for that same home. Insane. Even though prices have dropped the home prices are way over value. We have been in a bubble for a few years now.



There will be some buyers who will regret buying at the top. There is an old saying in Real Estate. It should not cost a man any more today to buy a home than it did 75 years ago. That is that say it took a man 5 years wages to buy a home, it should not now cost him 10 years wages. This is a bubble. I saw it in 08 when that crash came.



Funny thing is they started to do the exact same thing with in 2 years after the crash. I do see a Real Estate crash coming some time in the near future. The Fed is a large part to blame. Creating easy money and zero interest rates to manipulate the market is a bad thing.



Here in NWA there is so much money in the pipe line that they are still creating whole new 100 plus single family subdivisions its insane. There are three going up in Pea Ridge right now. I see home prices have fallen there but still way too much.



One thing that has not helped is that so many from the crap hole states like California, NY, and other Liberal destroyed states are moving here. The sell there and then come here and think a 1900sf home new for 425k is a steal. This is artificially driving up prices. Many people here starting out can not afford a home.



Buckle up its going to be a fun 2024
Reply With Quote Quick reply to this message

 
Old 01-11-2024, 10:00 AM
 
1,392 posts, read 1,398,417 times
Reputation: 2725
i know it is a little different market in hot springs, but lake property is still bringing a premium and selling fast. off lake is beginning to soften quite a bit. (most lake buyers are paying cash and are from out of town or state)


thanks for reviving the ark thread!
Reply With Quote Quick reply to this message
 
Old 01-11-2024, 06:24 PM
Status: "Smartened up and walked away!" (set 21 days ago)
 
11,768 posts, read 5,781,921 times
Reputation: 14186
Quote:
Originally Posted by lazarus2 View Post
I work in the title industry in NWA. Home sales have slowed down quite a bit. The amount of building apts. Condos and homes is still going on. There are a lot of speculation building going on. On Walton over by the home office there are so many 4 and 5 story complexes going up its insane. I see price drops in Pea Ridge that we have not seen since before Covid. Property is sitting on the market unlike before where it would sell before it hit the MLS.



It was not possible to sustain. Home prices went from 175k for a 1700sf home to 350k for that same home. Insane. Even though prices have dropped the home prices are way over value. We have been in a bubble for a few years now.



There will be some buyers who will regret buying at the top. There is an old saying in Real Estate. It should not cost a man any more today to buy a home than it did 75 years ago. That is that say it took a man 5 years wages to buy a home, it should not now cost him 10 years wages. This is a bubble. I saw it in 08 when that crash came.



Funny thing is they started to do the exact same thing with in 2 years after the crash. I do see a Real Estate crash coming some time in the near future. The Fed is a large part to blame. Creating easy money and zero interest rates to manipulate the market is a bad thing.



Here in NWA there is so much money in the pipe line that they are still creating whole new 100 plus single family subdivisions its insane. There are three going up in Pea Ridge right now. I see home prices have fallen there but still way too much.



One thing that has not helped is that so many from the crap hole states like California, NY, and other Liberal destroyed states are moving here. The sell there and then come here and think a 1900sf home new for 425k is a steal. This is artificially driving up prices. Many people here starting out can not afford a home.



Buckle up its going to be a fun 2024
Unless they are coming from NYC - they aren't driving up the prices. Homes in most of NY State are reasonably priced but people like to think NYC reflects how all NYers live. I can't speak for Cali.
Reply With Quote Quick reply to this message
 
Old 01-12-2024, 08:11 AM
 
Location: Mid-Atlantic
32,921 posts, read 36,316,341 times
Reputation: 43748
Quote:
Originally Posted by xray731 View Post
Unless they are coming from NYC - they aren't driving up the prices. Homes in most of NY State are reasonably priced but people like to think NYC reflects how all NYers live. I can't speak for Cali.
I just checked prices in Norwich, NY.

https://www.realtor.com/realestatean...=srp-list-card
Reply With Quote Quick reply to this message
 
Old 01-12-2024, 10:11 AM
 
Location: Chisago Lakes, Minnesota
3,816 posts, read 6,441,822 times
Reputation: 6567
Quote:
Originally Posted by lazarus2 View Post
I work in the title industry in NWA. Home sales have slowed down quite a bit. The amount of building apts. Condos and homes is still going on. There are a lot of speculation building going on. On Walton over by the home office there are so many 4 and 5 story complexes going up its insane. I see price drops in Pea Ridge that we have not seen since before Covid. Property is sitting on the market unlike before where it would sell before it hit the MLS.



It was not possible to sustain. Home prices went from 175k for a 1700sf home to 350k for that same home. Insane. Even though prices have dropped the home prices are way over value. We have been in a bubble for a few years now.
Huge reason we never pulled the trigger on moving down there (or back to DFW as we also discussed). Those homes are not worth their prices, period. Most come with almost no property and are on fenced in, puny lots surrounded by scores of others right on top of them. They are built to sell and sell fast sans any true value for the buyer. When we decided to stay put up here and buy again we at least got 3/4 of an acre with beautiful natural borders in a lakefront neighborhood for what we would have paid for one of those cookie cutter subdivision homes in AR or TX.

We still want to move back south eventually, but not on those terms. Hoping that waiting will prove to be the right decision down the line in correlation.
Reply With Quote Quick reply to this message
 
Old 01-24-2024, 09:12 AM
 
Location: SE corner of the Ozark Redoubt
8,924 posts, read 4,632,086 times
Reputation: 9226
Quote:
Originally Posted by xray731 View Post
Unless they are coming from NYC - they aren't driving up the prices. Homes in most of NY State are reasonably priced but people like to think NYC reflects how all NYers live. I can't speak for Cali.
Good to point out, the rest of NY state isn't like NYC (and maybe a couple other large cities).
From what I have been able to determine, in CA (aka Cali ) it seems to be from Mexicali to Sacramento, and anything else within 20 or so miles of the Ocean.
Reply With Quote Quick reply to this message
 
Old 01-24-2024, 10:27 AM
 
2,898 posts, read 1,864,185 times
Reputation: 6169
Quote:
Originally Posted by xray731 View Post
Unless they are coming from NYC - they aren't driving up the prices. Homes in most of NY State are reasonably priced but people like to think NYC reflects how all NYers live. I can't speak for Cali.
As someone who lives in western NY (300 miles from NYC) I can attest to this being accurate. NYC is not all of NY state. I live in the suburbs in a nice 4 bedroom house in a nice neighborhood and school district and my house is probably worth 325k on a good day. The killer which makes it terrible is 6k annual taxes that will never go away. That's 500 every month for escrow. Nope. Done with that. So even though property values aren't insane in my area when you combine the mortgage, interest and taxes that actual monthly payment grows quite large very quickly.

NYC ruining NY state is why I'm looking to escape to a better are with common sense. So here I am.

I missed the boat buying property in East Tennessee in 2018 And now it's nearly tripled there so Tennessee isn't very realistic so I'm expanding my search net. NWAR appears to have a lot going for it.
Reply With Quote Quick reply to this message
 
Old 01-24-2024, 10:28 AM
 
2,898 posts, read 1,864,185 times
Reputation: 6169
Quote:
Originally Posted by TRex2 View Post
Good to point out, the rest of NY state isn't like NYC (and maybe a couple other large cities).
From what I have been able to determine, in CA (aka Cali ) it seems to be from Mexicali to Sacramento, and anything else within 20 or so miles of the Ocean.
Hey! Hope things are going well, I'm checking out your neck of the woods a little more.
Reply With Quote Quick reply to this message
 
Old 01-24-2024, 03:35 PM
 
Location: SE corner of the Ozark Redoubt
8,924 posts, read 4,632,086 times
Reputation: 9226
Quote:
Originally Posted by drinkthekoolaid View Post
...
NYC ruining NY state is why I'm looking to escape to a better are with common sense. So here I am.

I missed the boat buying property in East Tennessee in 2018 And now it's nearly tripled there so Tennessee isn't very realistic so I'm expanding my search net. NWAR appears to have a lot going for it.
Quote:
Originally Posted by drinkthekoolaid View Post
Hey! Hope things are going well, I'm checking out your neck of the woods a little more.
Prices doubled, here, but these increases are temporary.

A few years of chiggers, ticks and Rednecks, we should be able to clear out anyone that isn't meant to be here

Reality is, the interest rates are killing the middle class (that is you) down here. There are quite a few areas in AR that should experience a housing market collapse (collapse back to normal).

Taxes are real cheap, here, if you are in my income and property class.
I suspect you are a class or two above me, so the advantage won't be as dramatic.
Reply With Quote Quick reply to this message
 
Old 02-22-2024, 07:27 AM
 
136 posts, read 114,236 times
Reputation: 222
Default You're NOT Alone. Buyers Remorse

Many people not happy with their knee jerk decision with relocating during the pandemic. https://www.nar.realtor/magazine/rea...mic-purchasers
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Arkansas > Fayetteville - Springdale - Rogers
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top