Hot Springs Arkansas Real Estate News & Listings Presented By Hot Springs 1st Choice Realty

No Brainer

Sat, 21 Jan 2012 00:07:07 GMT

It's your move and we have just the home. An adorable, neat and clean three bedroom home in a nice neighborhood that comes complete with a two-car garage, fenced back yard, and colorful plantings. You'll love the invigorating whirlpool tub, the spacious family room, and the double walk-in closets in the master suite. It's even walking distance to the school at Cutter Morning Star. The price will seem like a bargain after one glance.

2011 Market Update in Garland County

Thu, 05 Jan 2012 02:00:00 GMT

Even though many predicted 2011 to be a grim year for the economy, we prefer to reflect and find the good that came from it.

We have gathered the numbers and prepared the following report for you.

Residential Sales in Garland County, AR

(information obtained from the Hot Springs Board of Realtors mls)

Average Days on Market

1/1/10 – 12/31/10: 172

1/1/11 – 12/31/11: 166 * Note - Listings sold a little faster in 2011

Number of Listings Sold

1/1/10 – 12/31/10: 1266

1/1/11 – 12/31/11: 1246

Average Price of Sold Listings

1/1/10 – 12/31/10: $152,355

1/1/11 – 12/31/11: $154,150 *Note - Higher priced homes sold –and/or – homes sold for a higher price in 2011

Percentage of listings that Sold

1/1/10 – 12/31/10: 31.56%

1/1/11 – 12/31/11: 37.76% Note – A higher percentage of listings sold in 2011

MLS Sold Volume

1/1/10 – 12/31/10: $178,661,072

1/1/11 – 12/31/11: $170,661,072 Note - While the total sales was lower in 2011 - inventory continuously dropped throughout the year …. This is greatly improving our market to a more balanced market.

(Click here for a more detailed report of the current market.)

There's a story we like about a business owner in Texas, who years ago--in the midst of a Recession--placed an ad in the local paper saying, "There are reports of an economic Recession, but we have decided not to participate!" Love that statement! Feel free to use it with us.

We wish you a wonderful and prosperous 2012!!

Stunning Lakefront Condo

Wed, 21 Dec 2011 01:01:40 GMT

View to Take Your Breath Away; Price to Let You Breathe! You can travel the world and find little to compare with the peace and tranquility of this lovely spot. A modern Mediterranean-style condominium situated behind the gates at South Bridge, and located on the far outer edge of the complex on the water's edge, offering unsurpassed lake and mountain vistas and a home anyone would be proud to call their own. It's the perfect blend of privacy and convenience. Best of all it's move-in ready and first-class style throughout - natural stone fireplace, surround sound speakers throughout inside and out, beautiful hardwood floorings and soft carpet, high ceilings, silhouette window shades, lavish master bath, and much more.

This unit includes one enclosed garage and one covered 25' boat slip with a hydraulic boat lift.

Recharge Your Batteries Here

Sat, 12 Nov 2011 01:22:25 GMT

This adorable brick home, set amidst century-old shade trees with back yard views of Lake Hamilton has recently been updated with brand-new carpets, new paint, new dishwasher, new wall oven in upper kitchen and new landscaping in the front. The home features full living on the main level with a kitchen, den, two bedrooms, bath, and upper covered balcony. And it could easily be shared by a tenant or other family members with full living on the lower level with another kitchen, large room, full bath, and covered patio with two outdoor access doorways - one at the top of the stairs on the side of the home and the other one walks out to the back yard.

The home has a nice chain-linked fenced back yard that slopes downward, and the neighborhood offers lake access to the homeowners, where you can enjoy swimming in the lake or sunbathing on the neighborhood swim dock right around the corner.

Fast action is required as it's priced to move quickly.

Recharge Your Batteries Here

Fri, 11 Nov 2011 22:00:37 GMT

A Rustic Lane leads to this very private place with peaceful woods and a gray brick home set on a sun-streaked hillside. This commuting close, 1.15 acre site is home to a host of friendly forest creatures. The 2,698 square foot, 3 bedroom home feels very long with many private areas for the family to spread out and relax. Its high ceilings is an added bonus that makes it feel even bigger. Along the rear of the home is a beautiful sunroom perfect for an artist's studio or hobby, and it even includes a walk-out basement that's another great bonus room.

You can definately recharge your batteries living here. The site includes century-old trees, a white picket fence along the front, a cedar privacy fence protecting the in-ground pool, hot tub and back yard, and much more open space along the side of the yard - currently used for a volleyball court. See it and be charmed.

Inventory Drops to Its Lowest in over 4 Years ... Now May be Your Best Chance to Sell!

Wed, 09 Nov 2011 02:00:00 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.

Bank-Owned Beauty in Diamondhead

Tue, 08 Nov 2011 18:33:49 GMT

No one wants to be considered a thief, but someone will benefit by buying this stunning Bank-Owned custom home in the beautiful Mystic Shores area of Diamondhead community. The home is in pristine condition and has a cozy fireplace, formal dining area, well proportioned rooms, beautiful cabinetry and woodwork, granite counters, gleaming hardwood floors, fenced backyard, double garage and a very peaceful hilltop setting overlooking Lake Catherine across the street. It's your opportunity to reap the benefits of this fabulous deal.

Diamondhead... the place of the future, where lake living is still affordable. If you love a nice drive through the country, viewing the beautiful colors in the fall, the smell of the flowering trees in the spring, and a frequent glimpse of deer and natural wildlife... you'll absolutely love driving home to this beautiful setting. The home sits on a beautiful 1/4 acre hillside lot with a flat back yard and a gentle downward slope in the front. The neighborhood winds along Lake Catherine and offers panoramic lake and mountain views.

Diamondhead is bordered by Lake Catherine & Lake Catherine State Park & the whole community lies within two counties.

119 Cash Lane, Hot Springs 71913

Tue, 01 Nov 2011 01:10:46 GMT

The roof doesn't appear to leak, but just about everything else in this little shack in the city is in need of mending. While it has expansive lawns, hedges, and a guest house out back, you'll have to imagine how it will look trimmed without the weeds and bare spots, and with flowers blooming. If you love to tinker, you have enough work for a lifetime. The only redeeming feature is the price.

1017 Burchwood Bay, Hot Springs 71913

Mon, 31 Oct 2011 22:38:41 GMT

Friendly Dog is not included with this adorable blonde brick Ranch home with the perfect back yard. With a short distance to town, this is the ideal home for happiness. It features a fireplace to gather "round on cold wintry nights and a tree-shaded, fenced yard children will love. The covered patio makes a perfect rainy-day hangout and the two storage buildings and single-car carport offers room for bikes, trikes, and garden tools. It's the perfect home that's next to everything for next to nothing.

111 Lakeside Drive, Hot Springs 71901

Sat, 17 Sep 2011 21:10:07 GMT

Why gamble when you can have a tried-and-true sure thing? A four bedroom custom home in a friendly Lakeside neighborhood of well-cared-for homes and lawns. With fine hardwoods, a nice open floor plan with split bedrooms, sun-filled rooms, gas fireplace, large fenced yard plus a storage building and two-car garage, it's a winner!

Market Update in Garland County

Thu, 08 Sep 2011 02:00:00 GMT

In comparing the residential sales reports for Garland County, it appears that residential sales in Garland County for the first eight months of the year is down as compared to the same period last year. The first quarter of 2011 started out holding steady and appeared to be a mirror image of the same period in 2010. However, the second quarter of 2011 was the down period – whereas we did not see the spike in sales in our area as we normally do with vacation home sales in the summer months. May and June of this year limped along in summer sales, then we had a nice spike in July with an increase in the number of units sold up 24% over June, however it wasn’t enough to increase our year-to-date figures.

Take a look at the below statistics on residential sales in Hot Springs (information obtained from the Hot Springs Board of Realtors® mls). Click here for more detailed information on the Hot Springs market.

Average Days on Market

1/1/10 – 8/31/10: 172

1/1/11 – 8/31/11: 160

Number of Listings Sold

1/1/10 – 8/31/10: 863

1/1/11 – 8/31/11: 832

Average Price of Sold Listings

1/1/10 – 8/31/10: $150,863

1/1/11 – 8/31/11: $148,988

MLS Sold Volume

1/1/10 – 8/31/10: $130,195,229

1/1/11 – 8/31/11: $123,958,794

While this is one of the toughest markets we have seen, our team is still getting the job done. Did you know that the Kennedy Team is currently ranked as the number ONE listing team in sales for 2011? In addition, the Kennedy Team is holding the number ONE position for total residential sales for the combined 4 year (2008 – Aug 2011) recession in our area, selling more than any other Real Estate Agent or Team in Garland County during one of the toughest markets in recent history. While many might say “Gosh, I bet you really took advantage of the foreclosure market with those sales” … It’s not at all true! In fact, very few of those sales were foreclosures – as the Kennedy Team has never sold a “short-sale” and does not specialize in foreclosures.

If you are thinking about selling a home in the Hot Springs area, or know someone interested in selling, we would be glad to help! Please feel free to give us a call anytime - 501.655.6247.

A Brake Slammer

Thu, 04 Aug 2011 23:59:48 GMT

The functional floor plan offers the perfect place for entertaining with its free flowing, sun-filled kitchen, dining, and family room combination with vaulted ceilings and french doors leading to its private deck.

The home features many extra energy efficient features with its 6" stud perimeter, 2" x 12" flooring and extra insulation, offering the family an added savings on utility costs. Don't let this one get away.

Cost took a back seat to quality when this beautiful classic home was built on the hillside with vista views. With its gleaming hardwood flooring, granite counters, custom cabinetry, and Energy Star appliances, the best was demanded!
The functional floor plan offers the perfect place for entertaining with its free flowing, sun-filled kitchen, dining, and family room combination with vaulted ceilings and french doors leading to its private deck.
The home features many extra energy efficient features with its 6" stud perimeter, 2" x 12" flooring and extra insulation, offering the family an added savings on utility costs. Don't let this one get away.

Handsome, Light & Bright Waterfront Condo

Fri, 22 Jul 2011 22:27:06 GMT

Handsome, light & bright top floor one & a half story condo is situated above the pool, with wonderful views on Lake Hamilton. It offers 9 ft ceilings, an oversized balcony, cozy gas fireplace, spacious rooms, granite counters, and stainless steel appliances. All of this - situated in a very serene setting with lush landscaping, overlooking the beautiful Garvan Woodland Gardens. If you enjoy water skiing in the summer, this is a perfect location on Lake Hamilton with its large cove and calmer waters. At other times, its a beautiful setting that attracts much wildlife along the natural shoreline across the cove.

When the Going gets Tough, the Tough gets Going

Wed, 06 Jul 2011 00:16:00 GMT

In comparing the residential sales reports for Garland County, it appears that residential sales in Garland County for the first half of the year is down as compared to the same period last year. Unfortunately, our market has yet to see the spike in sales that we normally see in the summer months.

Take a look at the below statistics on residential sales in Hot Springs (information obtained from the Hot Springs Board of Realtors®mls). Click here for more detailed information on the Hot Springs market.

Average Days on Market

1/1/10 – 6/30/10: 177

1/1/11 – 6/30/11: 161

Number of Listings Sold

1/1/10 – 6/30/10: 653

1/1/11 – 6/30/11: 589

Average Price of Sold Listings

1/1/10 – 6/30/10: $147,907

1/1/11 – 6/30/11: $142,804

MLS Sold Volume

1/1/10 – 6/30/10: $96,586,343

1/1/11 – 6/30/11: $84,111,989

While it’s no secret that we’re in a tough market, we believe we can still get the job done. The Kennedy Team ranked #1 in total residential sales in Garland County for the past 3 year recession. As the saying goes “When the going gets tough … the tough gets going!” and that’s exactly what we’re doing. If you or someone you know is interested in selling , please give us a call and we'll be glad to help.

RESIDENTIAL SALES PICKED UP IN APRIL

Mon, 23 May 2011 15:46:00 GMT

In comparing the monthly residential sales reports for Garland County, it appears that residential sales picked up significantly in home sales in Garland County for April with a 48% increase over March. The majority of those homes sold in April were homes sold under $150,000.

Then we compared the year-to-date market statistics and compared it to the same period as last year, and it appears that we’re still running a very similar race as last year. Take a look at the below statistics on residential sales in Hot Springs (information obtained from the Hot Springs Board of Realtors® mls) .

Average Days on Market

1/1/10 – 4/30/10: 176

1/1/11 – 4/30/11: 172

Number of Listings Sold

1/1/10 – 4/30/10: 383

1/1/11 – 4/30/11: 373

Average Price of Sold Listings

1/1/10 – 4/30/10: $144,606

1/1/11 – 4/30/11: $142,090

MLS Sold Volume

1/1/10 – 4/30/10: $55,384,315

1/1/11 – 4/30/11: $52,999,773

Click here for more detailed information on the Hot Springs market, and be sure to call the # 1 real estate team in Hot Springs – the Kennedy Team with Hot Springs 1st Choice Realty at 501.655.6247 or 501.276.4446.

Luxury housing market showing signs of recovery

Thu, 07 Apr 2011 21:00:00 GMT

In a transaction which set a record for most expensive U.S. residential sale ever, Russian billionaire Yuri Milner (who heads Digital Sky Technologies) has reportedly paid $100 million for a 25,500-square-foot Los Altos Hills (CA) home which was not even listed for sale. This record-setting sale is just one indication that the wealthy have opened their wallets and are shopping for homes again.

Nationally, the million dollar and above housing market rose 4% in February year-over-year as luxury buyers snapped up homes, often for all cash. The jump in luxury purchases is counter to the real estate resale trend in general. In February, total residential sales dropped 2.8% as compared to February a year ago.

While Hot Springs, Arkansas does not have triple digit luxury homes in our market, we currently have 25 homes priced at $1 million or more listed for sale. While the luxury home sales have been down throughout the last couple of years, we are starting to see an increase in the number of showings of our luxury homes as of the first of this year. The most expensive home for sale locally has an asking price of $4,899,000, one of our finest listings, built by one of Arkansas’ finest builders – Ferguson Custom Homes of Little Rock.

Why the rise in luxury sales? According to Laurie Moore-Moore, Founder of The Institute for Luxury Home Marketing, an organization which trains luxury agents internationally, “The number of wealthy households in the U.S. and world-wide is almost back to where it was before the downturn. Add the fact that many high net worth individuals are reassessing their investments and rethinking how and where to invest. High-end U.S. residential real estate is now attracting many of these dollars, Euros, and Rubles. This bodes well for the luxury home market in the short term. Luxury may well be the real estate segment that leads the recovery.”

For more information on the luxury real estate market, please contact Hot Springs’ only certified luxury home marketing specialist, Jeff Kennedy with Hot Springs 1^st Choice Realty at 501.655.6247 or online at www.BestofHotSprings.com

RESIDENTIAL SALES ARE RUNNING NECK & NECK WITH LAST YEAR

Thu, 07 Apr 2011 13:08:00 GMT

Looks like residential sales in Hot Springs are running a close race with last year at this point. We just compared the recent market statistics to the same period as last year, and the first quarter of 2011 is looking very similar to last year’s first quarter, with a slight increase in the average price of sold listings, and a slight drop in the number of days that it takes to sell a home – actually both positive signs of some improvement. Take a look at the below statistics on residential sales in Hot Springs (information obtained from the Hot Springs Board of Realtors® mls) .

Average Days on Market

1/1/10 – 3/31/10: 175

1/1/11 – 3/31/11: 168

Number of Listings Sold

1/1/10 – 3/31/10: 255

1/1/11 – 3/31/11: 246

Average Price of Sold Listings

1/1/10 – 3/31/10: $134,594

1/1/11 – 3/31/11: $139,139

MLS Sold Volume

1/1/10 – 3/31/10: $34,321,632

1/1/11 – 3/31/11: $34,228,333

2011 is off to a Great Start!

Mon, 21 Feb 2011 20:08:00 GMT

RESIDENTIAL SALES ARE LOOKING BETTER THAN LAST YEAR

Looks like residential sales in Hot Springs is staying on track with continuous signs of an improved market. We just compared the recent market statistics to the same period as last year, and 2011 is looking better overall! Take a look at the below statistics on residential sales in Hot Springs (information obtained from the Hot Springs Board of Realtors® mls) .

Average Days on Market

1/1/10 – 1/31/10: 154

1/1/11 – 1/31/11: 177

Number of Listings Sold

1/1/10 – 1/31/10: 67

1/1/11 – 1/31/11: 75

Average Price of Sold Listings

1/1/10 – 1/31/10: $123,600

1/1/11 – 1/31/11: $141,793

MLS Sold Volume

1/1/10 – 1/31/10: $15,628,862

1/1/11 – 1/31/11: $21,004,032

Click here for more detailed information on the Hot Springs market, and be sure to call the # 1 real estate team in Hot Springs – the Kennedy Team with First Choice Realty at 501.655.6247 or visit us online at www.BestofHotSprings.com

The Time is Perfect ... Are You Ready?

Tue, 18 Jan 2011 20:11:00 GMT

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).

Home Sales are on the Rise in Hot Springs!

Sat, 15 Jan 2011 14:51:00 GMT

Great News! The year-end numbers are in, and it’s all good! Looks like residential sales in Hot Springs are back on the upswing, and we are ecstatic! Take a look at the below statistics on residential sales in Hot Springs (information obtained from the Hot Springs Board of Realtors® mls) .

Average Days on Market (YTD)

2009: 154

2010: 172

Number of Listings Sold (YTD)

2009: 1243

2010: 1260

Average Price of Sold Listings (YTD)

2009: $148,065

2010: $152,280

MLS Sold Volume (YTD)

2009: $163,720,480

2010: $177,226,819

Click here for more detailed information on the Hot Springs market, and be sure to call the # 1real estate team in Hot Springs – the Kennedy Team with First Choice Realty at 501.655.6247 or visit us online at www.BestofHotSprings.com