Home Sales in Central Arkansas

Well Fall is in the air, and home sales are really picking up here in Central Arkansas.  Many people are under the assumption that Spring is the best time to buy and sell homes.  I don't know why, but my best time has always been the Fall.

 Things have been looking up now for awhile and it's not a turn in the economy that's spurring on the sales - it's the fact that we never were grossly overpriced with our inventory in Central Arkansas Real Estate market like some areas of the country were. (before the economic downturn)

We are truly blessed to have the new construction inventory at a good balance as well.  I've heard that some areas had a massive over abundance before the slide and have not fared so well - leading to problems like an entire new construction neighborhood falling prey to the dreaded "repo neighborhood status" label now required by certain guidelines within the appraisal industry.  Or squatters coming in and taking up residence in vacant, repo homes.  There was even a story on the news I saw (and subsequently felt physically sick) which filmed an entire neighborhood of new construction homes being demolished by the bank because they were too much of a liability sitting vacant for so long.

No, we don't have the problems that many areas of the country have experienced, although sellers with homes for sale in Central Arkansas have felt a pinch, especially if they bought their home from 2003 to 2005-6 range, and paid minimum down when the market was at it's peak.  But overall we are faring rather well.

God bless you and yours this Fall season.

Mitchell Mote CRS

Executive Broker, Wiechert Realtors, Pat Mote Properties

www.mitchellmote.com
mitchell@patmote.com