Luxury Living at Low Price?

Reported by: Mallory Hardin, KARK 4 News

National home prices fell last month, a record 15.4 percent, and that's from just one year ago. Arkansas numbers haven't yet been released for July, but numbers haven't been promising this year.

So what if you could get a million dollar mansion for just over a thousand? It could be a possibility through a home staging company, but there are a few stipulations.

We're told right now, the homes on the market that just aren't selling are the expensive homes. Anything over $500,000 is sitting on the market for quite a bit longer than those in the $200,000 range, and that's why one local company gives you the opportunity to live in homes like these, at an affordable price.

The luxury of living in $750,000 home may seem like a dream. But with the housing market in a slump, this dream home may be more of a reality than you imagine.

"This house normally would rent for $4,000 or $5,000, but a home manager could stay here for $1,300 a month, which is a bargain," Heidi Ross with Showhomes in Central Arkansas said.

It's called Showhomes, and what you're doing as a home manager is occupying the house while it's on the market.

"The builders and realtors understand someone living in a home gives the competitive edge," Ross said.

In central Arkansas a $500,000 Showhome rents for 1,200 a month. $400,000 would rent for $900 to $1,000, and $250,000 would cost you $800 a month. Seem too good to be true? Well, it could be, if you're not tidy.

"You have to keep it nice and picked up from 8 in the morning, until 8 at night because there could be a showing," Ross said.

You also have to provide your own furniture, and no pets or smoking. But if you're willing to comply, you could live like a king, on a budget. That is, until someone actually buys the home you're occupying. At that point, if you're too attached to living in luxury, you can be moved to another Showhome. For more information on Showhomes, click here.