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How to Buy a HUD Home

by David Tyler Mills

Here at McNaughton Real Estate, we are asked everyday on how to buy a HUD home.  Rightfully so, HUD homes are the hot topic in terms of getting the most value out of your investment.  Believe it or not, it is surprisingly easy to buy your own.

  1. Get a Pre-Approved letter.
  2. View the Property with a McNaughton Realtor®.
  3. Submit your Bid.
  4. Submit your Contract Package to Asset Manager.

Not only is it that easy, we’ll do steps 3 and 4 for you!  Don’t let the buying process keep you from a great investment.  Check out all the HUD homes in Northwest Arkansas at www.allNWAhomes.com and give us a call!

How Healthy is Your Brain?

by David Tyler Mills

I know everyone is in their tip-top physical shape after my blog on workout supplements, but we can’t forget about the brain.  Yeah, it’s great to be in shape, but nobody likes all brawn and no smarts.  Fortunately, there are a variety of lifestyle choices that can directly exercise and preserve our brains.

Lumosity.com has a website that will grade your brain from your lifestyle choices.  Just go to www.braingradetest.com to try your free test.  It only takes about 5 minutes.

Along with your grade, the test gives an analysis on your diet, exercise, health, lifestyle, and cognition.  It will highlight areas you’re strong at and explain why that activity is important.  The test also includes areas that you’re struggling in and how you can improve them.  If you want, Lumosity.com can help train your brain.

I won’t tell you what I got, but let’s just say I need to eat more fish.  Let me know what y’all think!

The 2011 Real Estate Market Activity for Northwest Arkansas

by David Tyler Mills

Everybody is hearing mixed messages on the current real estate market and is wondering what the outlook of this year will bring.  If you’re listening to the news on a national level, you will hear a variety of coverage of how excellent or terrible the market looks.  Right now, the market is shaky- good in places, bad in others- so it’s vital to watch the market at a local area.  Do not be swayed by the national opinion of the real estate market because houses are selling here in northwest Arkansas. 

Included in this report is data taken from our local MLS database from the 12th of December of 2010 and data from the 12th of December of 2011.  From the comparison of these two snapshots, an assessment of the yearly change between the listings, the number of months supply, and new construction while be provided for the cities of Fayetteville, Farmington, Springdale, Lowell, Rogers, Bentonville, and Bella Vista.  Also within this report, significant changes in certain pricing categories will be supplied that showed substantial influence in each city.    

What is being measure?

Listings – a change between 2010’s and 2011’s houses on the market, also known as inventory, is provided.  A positive change usually indicates that inventory is increasing, and prices are decreasing.  On the other hand, a negative change usually indicates that inventory is decreasing and prices are increasing.  Changes in inventory within a certain price category have the greatest effect on price categories that are immediately less than or immediately greater than that category.  For example, a change in inventory in the pricing category of $100-149 will have a greater impact on the change in price and inventory within the pricing categories of $0-99 and $150-199.  Therefore, price categories such as $500-599 will have insignificant effect by these changes initially. 

Months Supply – a change between 2010’s and 2011’s number of months a house will remain on the market is given.  A positive change indicates an increase of time (in months) a house will remain on the market before it will sell.  A negative change indicates a decrease of time.  It is best to monitor specific price categories besides the overall average of each city to determine which housing prices are in high demand.  The most significant changes with each category have been provided.  Favorable significant changes have been highlighted in green; whereas, unfavorable changes are in red.

New Construction - a change between 2010’s and 2011’s number of new constructions have been included.  An increase in new construction is usually a reliable indicator of local economic growth, since many industries are involved during new construction.  A negative growth is to be expected in a recovering economy.

 

Fayetteville

 

Overlook

 

 

 

Listings

Months Supply

New Construction

 

 

Year

2010

2011

2010

2011

2010

2011

 

 

 

849

670

12.7

12

95

82

 

 

Change

-179

-0.7

-13

 

 

% Change

21%

6%

14%

 

 

 

 

 

 

 

 

 

 

 

 

Significant Changes

Price Category

$100-149

$300-349

$350-399

$400-449

Year

2010

2011

2010

2011

2010

2011

2010

2011

Months Supply

13.8

7.1

12.3

63

30

14.4

21

84

Change

-6.7

50.7

-15.6

63

 



 

 

 

 

 

 

 

Significant Changes

 

 

Price Category

$600-699

$700-799

$800-899

 

 

Year

2010

2011

2010

2011

2010

2011

 

 

Months Supply

12

31.5

12

39

84

9

 

 

Change

19.5

27

-75

 

 

 

Fayetteville barely improved its months supply overall.  Fortunately, months supply for $100-149 and $350-399 were almost cut in half.  For houses priced at $100-149, houses will now sell within seven months.  In 2010, it would have taken almost 14 months!  Houses priced at $800-899 did have an impressive difference of about six years.  Houses priced at $400-449 had a large increase of 63 months.  A strategic seller would drop their price within the $350-399 category.

Key Takeaways

  • Greatest change: $400-499 increased 63 months.
  • Fayetteville has the lowest months supply difference (-0.7).
  • Fayetteville has the lowest months supply percentage change (6%).
  • Fayetteville has the lowest percentage change decrease in new construction (14%).

 

Farmington

 

Overlook

 

 

 

Listings

Months Supply

New Construction

 

 

Year

2010

2011

2010

2011

2010

2011

 

 

 

100

53

20

8.8

6

2

 

 

Change

-47

-11.2

-4

 

 

% Change

47%

56%

67%

 

 

 

 

 

 

 

 

 

 

 

 

Significant Changes

Price Category

$100-149

$150-199

$200-249

$250-299

Year

2010

2011

2010

2011

2010

2011

2010

2011

Months Supply

11.4

7.5

24

6

19.5

9

24

5

Change

-3.9

-18

-10.5

-19

 

Farmington did phenomenal this year.  Overall the month supply dropped 56%.  Houses that took 20 months to sell now only take about nine.  Hot price categories included $100-149, $150-199, $200-249, and $250-299.  Almost all these categories took over a year or two to sell last year, now only take a few months!

Key Takeaways

  • Greatest change: $250-299 decreased 19 months.
  • All significant changes decreased in months supply.
  • Farmington has the largest percentage change in listings (47%).
  • Farmington has the largest months supply difference (-11.2).
  • Farmington has the largest months supply percentage change (56%).
  • Farmington has the lowest decrease in new construction (-4).
  • Farmington has the largest percentage change decrease in new construction (67%).

 

Springdale

 

Overlook

 

 

 

Listings

Months Supply

New Construction

 

 

Year

2010

2011

2010

2011

2010

2011

 

 

 

763

493

11.6

6.6

55

20

 

 

Change

-270

-5

-35

 

 

% Change

35%

43%

64%

 

 

 

 

 

 

 

 

 

 

 

 

Significant Changes

Price Category

$0-99

$100-149

$250-299

$300-349

Year

2010

2011

2010

2011

2010

2011

2010

2011

Months Supply

8.5

3.4

13.8

7.1

16.7

24.6

51

84

Change

-5.1

-6.7

7.9

33

 

 

 

 

 

 

 

 

 

 

Significant Changes

 

 

Price Category

$400-449

$450-499

$550-599

 

 

Year

2010

2011

2010

2011

2010

2011

 

 

Months Supply

36

24

51

84

84

9

 

 

Change

-12

33

-75

 

 

 

Considering how Springdale is the second largest city in Northwest Arkansas, a 35% change in listings is prominent.  The majority of this change came from houses priced at $0-99 with a five month supply change and $100-149 with a seven month supply change. High-end priced homes, such as $250-299 and $300-349, didn’t favor as well this year with an increase of an eight and a 33 month supply respectively.

Key Takeaways

  • Greatest change: $500-599 decreased 75 months.
  • Springdale has the largest change in listings (-270).
  • Springdale has the largest decrease in new construction (-35).

 

Lowell

 

Overlook

 

Listings

Months Supply

New Construction

Year

2010

2011

2010

2011

2010

2011

 

106

76

8.4

7.1

16

17

Change

-30

-1.3

1

% Change

28%

15%

6%

 

 

 

 

 

 

 

 

Significant Changes

 

 

 

 

Price Category

$200-249

 

 

 

 

Year

2010

2011

 

 

 

 

Months Supply

12.8

84

 

 

 

 

Change

71.2

 

 

 

 

 

Lowell’s real estate market showed little activity this year.  Listings dropped with a 28% change, but total months supply barely showed any significant signs of change.  Most notably, the price category of $200-249 had a significant increase of 71.2 month supply.

Key Takeaways

  • Lowell is one of two cities that increased in new construction.
  • Lowell has the largest percentage change increase in new construction (6%).
  • Lowell has the lowest change of listings (-30).

 

Rogers

 

Overlook

 

 

 

Listings

Months Supply

New Construction

 

 

Year

2010

2011

2010

2011

2010

2011

 

 

 

867

620

11.8

7.8

87

55

 

 

Change

-247

-4

-32

 

 

% Change

28%

34%

37%

 

 

 

 

 

 

 

 

 

 

 

 

Significant Changes

Price Category

$100-149

$200-249

$250-299

$400-449

Year

2010

2011

2010

2011

2010

2011

2010

2011

Months Supply

14

6.6

16.3

8.4

11.6

22.9

15.8

4.7

Change

-7.4

-7.9

11.3

-11.1

 

 

 

 

 

 

 

 

 

 

Significant Changes

Price Category

$450-499

$550-599

$600-699

$700-799

Year

2010

2011

2010

2011

2010

2011

2010

2011

Months Supply

25.5

10

13.5

84

45

16.5

84

14

Change

-15.5

70.5

-28.5

-70

 

 

 

 

 

 

 

 

 

 

Significant Changes

 

 

 

 

Price Category

$800-899

$1,000+

 

 

 

 

Year

2010

2011

2010

2011

 

 

 

 

Months Supply

45

15

18

36

 

 

 

 

Change

-30

18

 

 

 

 

 

Unlike Lowell, Rogers experienced ample real estate activity with the overall months supply decreasing 34%.  All significant price categories that had a decrease in months supply range from seven months to roughly six years.  Price categories such as $250-299, $550-599, and $1,000+ increased from 11.2 to 70.5 month supply.

Key Takeaways

  • Greatest change: $550-559 increased 70.5 months.

 

Bentonville

 

Overlook

 

 

 

Listings

Months Supply

New Construction

 

 

Year

2010

2011

2010

2011

2010

2011

 

 

 

503

298

12.2

6.2

111

117

 

 

Change

-205

-6

6

 

 

% Change

41%

49%

5%

 

 

 

 

 

 

 

 

 

 

 

 

Significant Changes

Price Category

$0-99

$100-149

$150-199

$200-249

Year

2010

2011

2010

2011

2010

2011

2010

2011

Months Supply

9

4

11.1

6.2

13.3

5.5

13.1

4.7

Change

-5

-4.9

-7.8

-8.4

 

 

 

 

 

 

 

 

 

 

Significant Changes

Price Category

$350-399

$450-499

$500-549

$550-599

Year

2010

2011

2010

2011

2010

2011

2010

2011

Months Supply

57

6.8

19.5

6.6

27

8

3

9

Change

-50.2

-12.9

-19

6

 

 

 

 

 

 

 

 

 

 

Significant Changes

 

 

Price Category

$600-699

$800-999

$1,000+

 

 

Year

2010

2011

2010

2011

2010

2011

 

 

Months Supply

10.5

6

4

12

21

84

 

 

Change

-4.5

8

63

 

 

 

Much like Rogers, the real estate market was very active in Bentonville with a greater overall months supply change of 49%.  Bentonville shows favorable activity across the board amongst each price category, ranging from five months to four years!  The only significant downfalls were in the price categories of $550-599, $800-999, and $1,000+, ranging from six months to five years

Key Takeaways

  • Greatest change: $1,000+ increased 63 months.
  • Bentonville was one of two cities that increased in new construction.
  • Bentonville has the largest increase in new construction (6).

 

Bella Vista

 

Overlook

 

 

 

Listings

Months Supply

New Construction

 

 

Year

2010

2011

2010

2011

2010

2011

 

 

 

634

544

13.8

9.6

19

7

 

 

Change

-90

-4.2

-12

 

 

% Change

14%

30%

63%

 

 

 

 

 

 

 

 

 

 

 

 

Significant Changes

Price Category

$0-99

$100-149

$300-349

$350-399

Year

2010

2011

2010

2011

2010

2011

2010

2011

Months Supply

9.8

6

14.8

8.4

18

6.8

13.5

84

Change

-3.8

-6.4

-11.2

70.5

 

 

 

 

 

 

 

 

 

 

Significant Changes

 

 

 

 

Price Category

$400-449

$550-599

 

 

 

 

Year

2010

2011

2010

2011

 

 

 

 

Months Supply

24

84

84

9

 

 

 

 

Change

60

-75

 

 

 

 

 

Bella Vista also did well this year with an overall months supply decrease of 30%.  Even though price categories such as $350-399 and $400-449 took a hit, $550-599 has the greatest decrease of about 6 years of months supplyLower price categories did exceptionally well with decreases ranging from about 4 months to almost a year.

Key Takeaways

  • Greatest change: $550-599 decreased 75 months.
  • Bella Vista has the lowest percentage change in listings (14%).

It's Real Estate Investing Season!

by David Tyler Mills

With the economy still fighting to recover, investors are struggling to find profitable opportunities for their money.  Even in the midst of foreclosures, would you believe that investing into real estate is a valuable option?  That’s ok.  Roll your eyes, but let’s take a moment to consider the facts. 

Foreclosures are prominent.  People are simply not making enough money to pay for their homes.  They are being forced to move.  Immediately buying a new home is out of the question.  Moving out of town comes with high costs, both financially and emotionally, especially if the owner has a job and a family. 

The only financially viable option for most victims of foreclosure is renting.  As an investor, an important factor comes into mind.  What counties have the most foreclosed homes?  According to www.RealtyTrac.com, Benton County contains the most foreclosed homes in Arkansas with Washington County coming in at third.  McNaughton Real Estate’s website, www.allNWAhomes.com, has accounted for over 1,000 foreclosed homes in Washington County, Benton County, and Madison County.

The availability of foreclosures are evident, but what about the demand?  Having multiple, massive corporations such as Tyson, JB Hunt, and Wal-Mart stationed in Northwest Arkansas creates a significant inflow of rentals.  In addition, Arkansas’s flagship university, the University of Arkansas, in Fayetteville continues to pull renters throughout the world with this year being a record-breaking enrollment count for the university.

If the demand isn’t enough incentive to invest, then consider the quick return a rental property can provide.  With historically low interest rates, hovering around 4%, and low prices, NOW is the time to buy.  The increase in demand has also provided a healthy increase in rental prices. 

Inevitably, real estate investors gain a sense of pride in owning something tangible like land and/or a house compared to owning a small sliver of a corporation that stocks give.  These investors also have greater control in managing the value of their assets with the option to enhance, add-on, and renovate their property.  In addition, many real estate investors feel compassionate about offering an affordable home for families in need of shelter during this economic dip.

For everything that has a pro, there is always a con.  Many investors find it difficult to make time to search for quality tenants, have access to a network of contractors for maintenance, and be available for major and minor emergencies.  Fortunately, McNaughton Real Estate can alleviate the stress with their expertise in property management.  With McNaughton Real Estate you can expect:

  • A Property Management Team with 25+ years of experience whose primary focus is to protect your investment.
  • A vast network of local contractors, which can help you find the most cost-effective bid.
  • A quality tenant due to helpful insights with our credit and background checks.
  • Inspections to ensure security in your investment.
  • A 24/7 maintenance request line.
  • Abundant leads with our strong presence on the Internet and with our 35 years worth of referrals.  

We want to help maintain your focus on building your portfolio.  Allow us to protect what is yours and to advise you on any new opportunities that hit the market.  A professional Certified Investor Agent Specialist will be here to help you every step of the way. 

Joe Adams Amazing Kickoff Return

by David Tyler Mills

If you were watching the Razorback game this weekend, then you saw one of the best kickoff returns ever!  Arkansas senior wide receiver, Joe Adams, returns a punt for an amazing touchdown run in the Tennessee @ Arkansas matchup on November 12, 2011 to put the Razorbacks up 14-0.  Witness for yourself!

Foreclosure Fears Foster True Grief

by David Tyler Mills

Reports of foreclosures by the millions have been in the news so much over the past few years that to some, it might seem like the new normal. 

But as real estate professionals who are in the trenches with financially stressed homeowners every day, it never for a second feels like “business-as-usual.”

The prospect of losing one’s home is right up there among the major sources of grief, and often, it goes hand in hand with other tragic setbacks such as the loss of a job, a divorce, death of a loved one, mounting medical bills, or skyrocketing mortgage payments.

Unfortunately, the first stage of grief is denial, and that’s even more the case when the threat of foreclosure is looming. No one wants to talk about or admit financial troubles—even when millions of others have found themselves in a similar spot.  It’s completely understandable, but for homeowners who are behind on mortgage payments, decisive action is often the most critical step toward ensuring the best possible solution.

As real estate professionals who have sought out the Certified Distressed Property Expert (CDPE) designation, we help homeowners to deal with every aspect of the grief and uncertainty that accompanies a mortgage which is no longer manageable. In the process, we help them to get on a path of financial solvency.

If you or someone you care about would like to change the course of a life that’s facing foreclosure, we get it, and we can help.

Contact us today!

Use our Moving Truck for Free

by David Tyler Mills

Even when the buying or selling process is complete, McNaughton Real Estate isn't ready to let go just yet.  Up to this point we know you've invested a lot of time and money, so we want to make sure that you leave us completely satisfied.  Instead of wasting your time and money finding something to move all your belongings, use our moving truck for FREE! 

Too good to be true?  Hear it from Don yourself…

 

Our moving truck is also available for non-profit organizations such as

  • Churches
  • Schools
  • Fund raising events

 

 

 

 

 

 

 

 

The First Step

by David Tyler Mills

No matter if you're trying to break a habit or going skydiving, the first step is the hardest.  That first step becomes even more difficult if the final result is long term, such as buying a home.  Here at McNaughton Real Estate, we make that first step as easy and stress-free as possible.

What's the first step?  Getting Pre-approved!

Tell 'em, Don...

Northwest Arkansas is not Landlocked

by David Tyler Mills

There’s no doubt that moving from one state to another causes hesitation, especially if it’s a move from a whole different region of the country.  Though I can’t possible see why you would want to visit anywhere else in the world once you’ve settled in Arkansas, you won’t ever have to worry about being too far from anywhere.  With the Northwest Arkansas Regional Airport, or more commonly known as XNA, Northwest Arkansas is freed from being landlocked. 

Here’s a little bit about the airport as posted on their website…

“Opened for commercial passenger business on November 1, 1998, the geographic terrain where the airport is located provides tremendous facilities for regional and larger jet aircraft to operate. One of only two Airport Authorities in the state of Arkansas, the Board of Directors' sole purpose is to build, operate and maintain the facility. The airport's staff strives to keep pace with the growing demands of NW Arkansas' thriving economy and passenger traffic. This is done by initiatives to provide increased passenger destinations and expanded customer service - what the citizens and visitors to NW Arkansas have come to expect and deserve. NW Arkansas' dynamic economy, coupled with our air carrier partners' response to demand, combined to make the Northwest Arkansas Regional Airport the most eXciting New Airport in the country.”

No matter if you decide to move to Fayetteville, Springdale, Bentonville, Rogers, or any other cities in Northwest Arkansas, XNA is centrally located.  You’re never too far from home! 

 

 

Buying a HUD Home: Easy as 1-2-3 (Video Included)

by David Tyler Mills

Here at McNaughton Real Estate, we are asked everyday on how to buy a HUD home.  Rightfully so, HUD homes are the hot topic in terms of getting the most value out of your investment.  Believe it or not, it is surprisingly easy to buy your own.

  1. Get a Pre-Approved letter.
  2. View the Property with a McNaughton Realtor®.
  3. Submit your Bid.
  4. Submit your Contract Package to Asset Manager.

Not only is it that easy, we’ll do steps 3 and 4 for you!  Don’t let the buying process keep you from a great investment.  Check out all the HUD homes in Northwest Arkansas at www.allNWAhomes.com and give us a call!

 

Displaying blog entries 1-10 of 85

Contact Information

Photo of Don McNaughton Real Estate
Don McNaughton
McNaughton Real Estate
4299 W. Persimmon
Fayetteville AR 72704
479-442-9099
Fax: 479-442-0948
       

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