Search results matching tag 'Selling a Home in Hot Springs'

Inventory Drops to its Lowest in Over 4 years!

189123 — Wed, 09 Nov 2011 20:02:00 GMT

The market stats are in ... and while the overall pictures isn't glowing with improvement, we were able to find a silver lining in the cloud and a bit of positive news. Below is the overall year-to-date report (information obtained from the Hot Springs Board of Realtors® mls):

Average Days on Market

1/1/10 – 10/31/10: 172

1/1/11 – 10/31/11: 166

Number of Listings Sold

1/1/10 – 10/31/10: 1067

1/1/11 – 10/31/11: 1039

Average Price of Sold Listings

1/1/10 – 10/31/10: $152,158

1/1/11 – 10/31/11: $150,605

MLS Sold Volume

1/1/10 – 10/31/10: $162,353,137

1/1/11 – 10/31/11: $156,478,698

Then when we looked closer at the detailed report (click here for details), we noticed one really POSITIVE factor. Inventory is at the lowest we have seen it in at least 4 years (total of 1072 homes on the market vs. an average of 1350 homes on the market in our area). We think this could be a good indicator that our market may start to improve soon. With inventory steadily dropping, we hope to see the pendulum swing back a little more evenly and start to level out the supply and demand.

With inventory at its lowest, NOW may be your best chance to sell your home so let’s make sure it’s priced right, dressed right and it’s out-shining the competition. If you have any questions or would like to talk more, please feel free to give us a call at 501.655.6247 or 501.276.4446.

Hot Springs Market Update from the Kennedy Team

189123 — Wed, 06 Oct 2010 02:26:00 GMT

Thought you might be interested in the latest real estate market update, so we would like to share the latest news.

While September is generally the month that we start to see fewer buyers as we face the fall and winter seasons in our market, this September has been a little different this year and sales are holding steady.

Below is an overview as compared to the peak summer season (according to our local mls):

Jun Home Sales: 93

Jul Home Sales: 68
Aug Home Sales: 92
Sep Home Sales: 91

While home sales are holding steady, the better news is that the inventory is dropping – creating less competition for our sellers! Here’s an overview of the inventory (according to our local mls):

Jun 30 Homes on the Market: 1476
Jul 30 Homes on the Market: 1485
Aug 30 Homes on the Market: 1431
Sep 30 Homes on the Market: 1368

For a more detailed report of last month’s activity, please click here.

Another good indication of the buyer activity is the number of web site hits we receive, and again, September was awesome! We received 110,972 hits to our primary website –www.BestofHotSprings.com for the month of September, while we averaged 87,000 hits during the summer months.

Along with the above statistics, the Kennedy Team is also pleased to mention that in spite of this tougher economic state - our team is working hard, performing well, and holding the #4 position in residential sales in our area with $6,365,700 in closed transactions as of this month. So if you or someone you know is thinking about selling a home, we would be happy to help.

We’ll continue to keep you updated on the latest news, and please feel free to call or email us with any thoughts or questions.

Trend Setting in Hot Springs with CARMLS....

189123 — Thu, 01 Jul 2010 04:36:00 GMT

..... Will the other Firms Copy Us?

Back in April of this year, we announced the news about our added service with First Choice Realty offering a huge benefit for our sellers! In case you missed it, we thought we would re-post the news. We're still so excited about this added benefit for our clients now with First Choice Realty!!!

First Choice Realty has joined “CARMLS” – the Cooperative Arkansas Realtors Multiple Listing Service. You’re probably wondering “what does that mean to me”? It means that we have have broadened our marketing plan for our sellers by increasing the exposure to our sellers’ properties by at least 10 times thru this system. This gives our sellers a huge advantage over the competition homes on the market that are listed with other firms in the area. Our sellers’ properties will now be marketed to about 3,500 Realtors throughout the state of Arkansas versus only about 350 Realtors in the city of Hot Springs with our Hot Springs MLS. Then if you think about how many clients each Realtor has, we may have actually increased the marketing of our sellers’ properties by much more than 10 times!

In keeping with the philosophy of placing our clients first, First Choice Realty realizes that limiting the marketing services for our sellers’ properties to only the Hot Springs Realtors thru the Hot Springs MLS is a trend of the past. In 2009, the Hot Springs MLS data reported that almost $13 million in residential sales in the Hot Springs area were sold by “non-mls residents” – or Realtors who hold Arkansas real estate licenses and are not members of the Hot Springs MLS.

While CARMLS has been a hot topic among the Hot Springs Realtors recently, we have found that many of the other real estate firms in the area have mixed feelings opposing it. Our beliefs lean strongly in favor of CARMLS, as we believe it is a huge benefit for our clients. In fact, we felt so strongly in favor that it was a key factor which prompted our recent move to First Choice Realty.

In addition, you will now be able to list property in another area of Arkansas with us at First Choice Realty and we will be able to market your property to the full state of Arkansas, and the same goes for purchasing homes in other areas of the state.

We’re really excited about this new service for our clients. If you are thinking about selling your home and would like to know more, we would be glad to visit with you and share all the details.

Market Update in Hot Springs, AR

189123 — Thu, 08 Apr 2010 01:47:00 GMT

While reviewing the latest statistics for the Hot Springs real estate market for the month of March, we were pleased to see a significant increase in the number of sales for the month. According to the Hot Springs Board of Realtors mls data, there were 76 homes sold in March, as compared to only 48 homes sold in February. Click here for more details on the full report.

While the market seems to be picking up with the Spring buyers, we also wanted to touch base with you on our marketing plan for our home sellers. We're really excited about some additional marketing benefits that we will be able to offer our sellers in the next week or so with First Choice Realty. It will offer sellers a huge advantage over the competition homes in the area. Stay tuned for more details coming soon.

According to the National Association of Realtor's Homebuyer Profile Report for 2009, more than 90% of all homebuyers start their home search online. With this in mind, internet marketing is always our top priority in marketing our sellers' properties!

In addition to our competitive marketing plan for our sellers, we also offer each of our sellers access to their online "seller reports". Many of our sellers love this feature, as they are able to review all the activity on their home, ie. the number of web hits on their property, an overview of many of the online sites where their property is being advertised, information on the showings of their property, additional notes about our continuous marketing of their home, and much more.

If you or someone you know is interested in selling a home in the Hot Springs area, please feel free to call or email us anytime. We're always glad to help! (Not intended to solicit currently listed properties)

Slight increase in Real Estate Activity in Hot Springs

189123 — Thu, 18 Jun 2009 18:25:00 GMT

The Real Estate activity is starting to pick up slightly in Hot Springs. The web hits to our primary website at www.BestofHotSprings.com broke another record this week. This site received about 35,000 hits over the last 7 days. At this rate, we hope to hit 100,000 hits for the month of June which is another new record for activity. This means that we are receiving maximum online exposure to our listings at this time, and our marketing tactics are working.

While the market activity is increasing, it’s critical for sellers to take advantage of this peak in the real estate market, and capture the buyers while they are hovering around. Now this doesn’t mean your Realtor can do it alone …. If you’ve been putting off mowing the lawn, sprucing up the front entry, cleaning up the pool, or making those necessary repairs – please get moving now! There are tons of homes on the market now competing with your property, and it’s critical that your property stands out among the others.

While condition is critical, pricing is also another major factor! If you’re serious about selling – now is not the time to overprice your property. If your property is overpriced, the buyer may skip right on to the next one. The good news is that even though you may have to sell low at this time, you can also buy low on your next investment!

Let’s all work together and get things moving!