Rick Marshall, Realtor with Trademark Real Estate HSV, joins us today to give us an update on the real estate market inside Hot Springs Village, Arkansas. We recorded this conversation on Tuesday, March 1, 2022.
Hot Springs Village, like many communities, is experiencing robust activity and growth. Supply continues to be an issue. With around 20 houses on the market (and just a few of them lake properties), the demand continues to far outweigh the availability. The average number of days on the market is four and prices are about 20% higher than a year ago.
We discuss cash buyers, new home construction, lakefront properties, interest rates, and much more. Rick is a real estate data nerd who leverages information and knowledge to serve his clients. As you can see, he’s also willing to let us pick his brain and learn from his expertise. We hope you find the information helpful and interesting.
But if you’re interested in moving to the Village, don’t despair. Contact Rick today and press on in your quest to come to one of the most beautiful and safest places to live.
Here’s Rick’s contact information:
Email:
Call/Text: (501) 601- RICK (7425)
Visit his website: WelcomeToHotSprings.com (yes, it includes Hot Springs Village)
Podcast: Play in new window | Download (Duration: 1:01:04 — 55.9MB)
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Three questions I have with regard to Rick Marshall’s interview were not addressed.
1. Possession time after closing. Are today’s buyers flexible on this? Are they willing to forego seller rental-back for 30-60 days?
2. Has there been any push back by buyers on paying the new impact fees? Or have buyers asked sellers to pay this fee?
3. Do appraisers enter the homes they are appraising? Not all homes are created equal even if the square footage is comparable.
Helen,
Good questions!
1. Buyer’s don’t have much choice in this market but to be flexible. Many ARE willing to allow a seller to stay in the home for a month or two AFTER closing – it just takes some good negotiations.
2. I have not had any buyers “push back” on the buy-in fee, however, I have had a client decide not to move here at all because they felt it was “one more fee” and in addition to the POA dues and ala carte amenity fees, they thought it was just too much.
3. Appraisers do not generally have access to the comparable properties (since they have sold and been moved into by the new buyers). You are certainly correct that not all homes are created equal! Which was my point in the interview regarding over-emphasizing $ per square foot, in determining values.
Rick Marshall