The most important question for the last three years has been “Have we hit bottom yet?” and the answer is finally “YES!”. The year-end statistics indicate an improved market in Hot Springs in 2010. Click here for more details.
The recent recession we just experienced was quite challenging. Throughout this period, we noticed a different trend in the sellers.
As we began to see some signs of a dip in the market near the end of 2007, we had the “experienced” sellers – who sold right when the market began to shift. Those were the sellers who had equity in their homes; they felt certain the real estate market was shifting; and they quickly jumped before the pendulum hit bottom.
In 2008 – 2010, we had the “distressed” sellers. Those were the sellers who had very little equity or no equity in their homes; they could not make their payments, and they were unable to sell because they would have to come to the closing table with money. Those were the ones who elected to turn their homes over to the banks.
In 2009 – 2010, we had the “astute” sellers. Those were the sellers who had “prime” homes (good home, good location, and the ability to make payments or did not owe on their homes). Those sellers were in control, and did not have to sell, however, those chose to sell for other beneficial financial decisions.
Today we have the “uncomplicated” sellers in 2011. These sellers have survived the recession, and they are interested in selling their homes for a fair and reasonable price.
If you have been waiting for the best opportunity to buy a home … we believe that opportunity is now here! Rates are still low, home prices are no longer dropping, and we are ready to help. Visit us online at www.BestofHotSprings.com or give us a call today at 501.655.6247 (Jeff) or 501.276.4446 (Debi).