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In the entire town of Elkins, there's 12 houses for sale
Posted on 5/3/22 at 8:09 am
Posted on 5/3/22 at 8:09 am
that includes a hunting cabin with one bathroom, 15 miles south but with an Elkins address, for half a million
looks like there is zero new construction there right now, and I'm wondering if that's by design, as in, they don't want it
looks like there is zero new construction there right now, and I'm wondering if that's by design, as in, they don't want it
3
Posted on 5/3/22 at 8:12 am to Harry Rex Vonner
Materials are too high. The housing market is about to go through a reckoning. People who bought at the low interest rates will be stuck with them because they will never get what they paid due to higher rates.
Posted on 5/3/22 at 8:39 am to boogiewoogie1978
one of them in Elkins is this:
become a poultry farmer!!
half a mill and you growin chickens baws
got your trailer onsite and you waddle your arse out and grow them damn chickens and sell them to George and Tyson
set!
become a poultry farmer!!
half a mill and you growin chickens baws
got your trailer onsite and you waddle your arse out and grow them damn chickens and sell them to George and Tyson
set!
Posted on 5/3/22 at 8:44 am to boogiewoogie1978
quote:
he housing market is about to go through a reckoning.
Not saying you're wrong but I've heard people say that since the last crash.
quote:
People who bought at the low interest rates will be stuck with them because they will never get what they paid due to higher rates.
This won't happen.
quote:
In the entire town of Elkins, there's 12 houses for sale
Because of this, lack of inventory market wide.
Posted on 5/3/22 at 9:01 am to Billy Blanks
We are headed for another recession. Last week I heard on the local news for the first time this year. They said it is expected later this year. The rule of thumb is if the news is already taking about it then it is already here.
Posted on 5/3/22 at 9:04 am to Billy Blanks
quote:
This won't happen.
quote:
In the entire town of Elkins, there's 12 houses for sale
Because of this, lack of inventory market wide.
At some point homes will become higher than what people are willing to pay.
Either the buyer will pay more than they are willing to or the seller will have to sell it for less than what they overpaid with a low interest rate.
When it reaches this point someone has to take a "loss"
Posted on 5/3/22 at 9:50 am to boogiewoogie1978
quote:
The housing market is about to go through a reckoning
I believe this will be a bigger collapse than 2008, because it will include the over inflated car market too.
Posted on 5/3/22 at 10:14 am to boogiewoogie1978
quote:
The housing market is about to go through a reckoning.
Most of Arkansas will barely notice. We will probably hold steady worst case. The major metros in AZ, CA, and TX along with some of the very overpriced places like Denver and it's suburbs will get wrecked. I could see us actually getting a boost because even with how crazy it has gotten here we are still one of the most beautiful and affordable places to live in the country.
Posted on 5/3/22 at 10:24 am to V Bainbridge
I agree there’ll be a general recession and the current housing bubble is going to burst.
However, NWA would be somewhat insulated from a housing recession due to the desirability of the area, the sheer volume of people moving to the area, and inability of the supply to keep up with relative demand.
This isn’t like 2008, when there was rampant overbuilding in Fayetteville and Springdale. My wife and I had some friends who lived in the Meadowlands that we used to visit, and back then there were half-built spec homes with weeds growing in them littering that neighborhood and others. The NWA economy is different, the UofA student population is bigger, and a significantly higher number of people are moving here out of state who usually end up staying here.
However, NWA would be somewhat insulated from a housing recession due to the desirability of the area, the sheer volume of people moving to the area, and inability of the supply to keep up with relative demand.
This isn’t like 2008, when there was rampant overbuilding in Fayetteville and Springdale. My wife and I had some friends who lived in the Meadowlands that we used to visit, and back then there were half-built spec homes with weeds growing in them littering that neighborhood and others. The NWA economy is different, the UofA student population is bigger, and a significantly higher number of people are moving here out of state who usually end up staying here.
Posted on 5/3/22 at 10:32 am to Feral
quote:
The NWA economy is different, the UofA student population is bigger, and a significantly higher number of people are moving here out of state who usually end up staying here.
I can say from experience, once you've lived in NW Arkansas and moved away you miss the area terribly. It really is that place that you want to spend the rest of you life in. If you are super duper mega wealthy maybe New York or someplace... but for us middle class type folks it is just what we want.
Posted on 5/3/22 at 10:58 am to Harry Rex Vonner
There's very little inventory in NWA.
It's is a function of high population growth rate and the supply chain/labor shortages over the past two years.
From a regulatory standpoint, its harder to build in just about every city in NWA right now than it was a couple years ago. The smaller cities are emulating Fayetteville and Bentonville regarding growth.
It's is a function of high population growth rate and the supply chain/labor shortages over the past two years.
From a regulatory standpoint, its harder to build in just about every city in NWA right now than it was a couple years ago. The smaller cities are emulating Fayetteville and Bentonville regarding growth.
Posted on 5/3/22 at 10:59 am to boogiewoogie1978
quote:
At some point homes will become higher than what people are willing to pay.
Either the buyer will pay more than they are willing to or the seller will have to sell it for less than what they overpaid with a low interest rate.
When it reaches this point someone has to take a "loss"
It isn't like there is an abundance of cheap places for rent in NWA, either.
Posted on 5/3/22 at 11:11 am to Arksulli
for years people from California could sell there and buy here and bank $200k or more difference in cash, - if not half a million - plug that into their retirement output
now, from NWA, people can actually do that same thing by selling and heading to deep south fishing cabins, Bama, Mississippi, maybe Georgia, banking a huge difference and being debt free of course
I had empty nest buddies here in NWA do that to fixer uppers on Beaver Lake 10 years ago, I was meh to it then, and now they look like geniuses
you can't find those with decent prices on Beaver Lake anymore - you gotta head to Alabama or Miss
now, from NWA, people can actually do that same thing by selling and heading to deep south fishing cabins, Bama, Mississippi, maybe Georgia, banking a huge difference and being debt free of course
I had empty nest buddies here in NWA do that to fixer uppers on Beaver Lake 10 years ago, I was meh to it then, and now they look like geniuses
you can't find those with decent prices on Beaver Lake anymore - you gotta head to Alabama or Miss
This post was edited on 5/3/22 at 11:15 am
Posted on 5/3/22 at 11:21 am to wmr
quote:
It isn't like there is an abundance of cheap places for rent in NWA, either.
no shite
I don't know how young poor people are getting by
Posted on 5/3/22 at 11:25 am to Harry Rex Vonner
Spoke with a contractor last week and he told me to figure on $185 per foot for building a home right now. Most of this is due to materials. Does anyone remember .99¢ 2x4 studs? They are now $7.50 each.
The housing market will crater in the next 24 months, we just can't keep going like this. With all the money Washington has printed in the last couple years we are going to pay for it.
The housing market will crater in the next 24 months, we just can't keep going like this. With all the money Washington has printed in the last couple years we are going to pay for it.
Posted on 5/3/22 at 11:46 am to Barneyrb
holy shite
after reading that I just called my insurance agent and upped my rebuild cost coverage
ETA: the good news being rebuild would not have to include slab and probably no plumbing infrastructure, no dirt work
after reading that I just called my insurance agent and upped my rebuild cost coverage
ETA: the good news being rebuild would not have to include slab and probably no plumbing infrastructure, no dirt work
This post was edited on 5/3/22 at 11:50 am
Posted on 5/3/22 at 11:54 am to Harry Rex Vonner
I’m just outside of Elm Springs. Wife and I bought a house last summer at 167 per sq foot. House sold down the street from us last week at 201 per sq foot.
Posted on 5/3/22 at 12:18 pm to Harry Rex Vonner
Yeah I'm ready to build a retirement home on a lake in NE Louisiana, I already have the land and was looking at building a single story home about 3300 sq ft heated but that has been put on hold for a wee little bit. I was prepared for $100-115 per ft but at what he told me I'm going to wait, my land's not going anywhere
This post was edited on 5/3/22 at 4:31 pm
Posted on 5/3/22 at 12:19 pm to Harry Rex Vonner
Elkins
Posted on 5/3/22 at 1:20 pm to Arksulli
quote:
I can say from experience, once you've lived in NW Arkansas and moved away you miss the area terribly. It really is that place that you want to spend the rest of you life in. If you are super duper mega wealthy maybe New York or someplace... but for us middle class type folks it is just what we want.
Yep. It used to be a well kept secret, but the word is out now. We moved away after college and our plan was always to get back, and luckily we did 10 years ago. It’s been incredible to see how much it’s changed in the last decade.
We have neighbors on both sides of us who moved here sight unseen from the West Coast within the last few years.
This post was edited on 5/3/22 at 1:20 pm
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