Exactly.
The price history is interesting… $585k down to $550k on 4/26… then $550k to $575k on 6/7
It may be on Zillow for 204 days but elsewhere it’s been there at least 337 DOM.
I have no idea how people decide how to price their land/homes here. We've seen stuff that was bought in 2022, no improvements made, but they're asking for 100,000 (at least 25% or more) more than they bought it for and in rural areas, too.
It is kind of interesting to watch. There was one house that was completely out of our price range when we moved here in November, but fell into our price range by the time we were more seriously looking in April/May.
Yep. Last listed before that for like $80k in 2009 too then pulled from the market. I bet whoever owns it has it paid off too. They'll get about $575k if they want to wait.
Well, it had some more transactions than that... it was last deeded to the current owner with a Death Certifcate.... same last names as well.
I bet whoever's relative/offspring this was deeded to is going to make a pretty penny on this sale
[Benton Co. parcel #01-03556-001 via ARCountyData.com](https://i.ibb.co/7kJqjL4/chrome-Rk7-Tfkq-Lz9.png)
exactly we sold a couple of houses several years ago on the same street but closer to the square and made out like bandits....both houses torn down & replaced with zero lot line monstrosities.
Are you sure that's the case for downtown lots? I would have figured they'd have relaxed zoning rules. Just one block over they don't seem to have setback rules.
To answer your second question, because whoever buys it has the money. I used to rent on this street in a similar house that was torn down to build a few brownstones. I loved living down there and would do so again if I had the money. Being able to walk to everything was incredible.
That's literally 2 blocks from the Momentary, 8th Street Market, and the Meteor, and it's surrounded by $2-3m homes. The lot alone would sell for $575k.
Kinda shocked how much people will pay to build downtown. I can still easily ride my bike downtown a couple miles away for half the price on twice the lot.
My friend owns a similar house in that neighborhood with a slightly larger lot. House might be 900 sq ft. She’s had 3 calls over the past 12 months of offers for $1 million.
She doesn’t want to sell. It’s not on the market.
Lol, Rich people are gonna always be rich, I guess. Meanwhile, we have people holding up cardboard signs cause they can't afford a 1 bedroom apt to rent. It's amazing how little like Jesus people are in the Bible belt.
I bought a 8 year old 2982 SQFT house for $562K in Bentonville last week. All is not lost. Do your research, wait for your opportunity to pounce on a good deal.
Just $958 a square foot? I'm writing up an offer as we speak! Jkjk obviously the value is in the lot and smart money says they'll get 500K plus when they do sell
I dont think that’s the right term. Most of the houses in those areas are pretty independently unique and not the same-on-every-lot cookie cutter house typically reserved for the McMansion connotation.
Everyone saying they’ll get $575k is likely invested in that price in some way. Whether an agent and distantly linked to it, or lives in the area or owns a similar property. With it previously listed at $550k nobody in their right mind is offering $575k. More likely landing at $500k initial offer and agreeing to something between $525-540k if they really want it.
I agree. And that practice is more likely driving up the price of surrounding homes too. I saw a few homes where the estimate was much lower than the asking price. I’m curious who’s actually buying at the asking price.
They're selling the land - not the house. They'll get that if they're patient enough that's one of the most prime places in town.
Exactly. The price history is interesting… $585k down to $550k on 4/26… then $550k to $575k on 6/7 It may be on Zillow for 204 days but elsewhere it’s been there at least 337 DOM.
I have no idea how people decide how to price their land/homes here. We've seen stuff that was bought in 2022, no improvements made, but they're asking for 100,000 (at least 25% or more) more than they bought it for and in rural areas, too. It is kind of interesting to watch. There was one house that was completely out of our price range when we moved here in November, but fell into our price range by the time we were more seriously looking in April/May.
The cost to build a house went from roughly 100 a sq ft to 200 a square ft in 2021/2022, housing prices for current homes are adjusted to match
Yep. Last listed before that for like $80k in 2009 too then pulled from the market. I bet whoever owns it has it paid off too. They'll get about $575k if they want to wait.
Well, it had some more transactions than that... it was last deeded to the current owner with a Death Certifcate.... same last names as well. I bet whoever's relative/offspring this was deeded to is going to make a pretty penny on this sale [Benton Co. parcel #01-03556-001 via ARCountyData.com](https://i.ibb.co/7kJqjL4/chrome-Rk7-Tfkq-Lz9.png)
Thanks for catching that! No doubt. They'll make a pretty penny.
exactly we sold a couple of houses several years ago on the same street but closer to the square and made out like bandits....both houses torn down & replaced with zero lot line monstrosities.
Still you cannot construct anything beyond the Setback line. Then what's the point of buying it for that price?
You'd be surprised how much house they can cram into a space.
Are you sure that's the case for downtown lots? I would have figured they'd have relaxed zoning rules. Just one block over they don't seem to have setback rules. To answer your second question, because whoever buys it has the money. I used to rent on this street in a similar house that was torn down to build a few brownstones. I loved living down there and would do so again if I had the money. Being able to walk to everything was incredible.
That's literally 2 blocks from the Momentary, 8th Street Market, and the Meteor, and it's surrounded by $2-3m homes. The lot alone would sell for $575k.
The building is a negative value on the lot.
The lot is for sale for 1/2 a million. The house is trash.
Land is expensive af
This is getting old, it’s for the land.
Kinda shocked how much people will pay to build downtown. I can still easily ride my bike downtown a couple miles away for half the price on twice the lot.
California moment
[удалено]
Pay attention to new construction, not DT
My friend owns a similar house in that neighborhood with a slightly larger lot. House might be 900 sq ft. She’s had 3 calls over the past 12 months of offers for $1 million. She doesn’t want to sell. It’s not on the market.
If only we bought 10 properties in 2018
Location location location
Lol, Rich people are gonna always be rich, I guess. Meanwhile, we have people holding up cardboard signs cause they can't afford a 1 bedroom apt to rent. It's amazing how little like Jesus people are in the Bible belt.
I bought a 8 year old 2982 SQFT house for $562K in Bentonville last week. All is not lost. Do your research, wait for your opportunity to pounce on a good deal.
That’s very comforting. Thank you!
Just $958 a square foot? I'm writing up an offer as we speak! Jkjk obviously the value is in the lot and smart money says they'll get 500K plus when they do sell
They are building mcmansions on all the surrounding lots.
I dont think that’s the right term. Most of the houses in those areas are pretty independently unique and not the same-on-every-lot cookie cutter house typically reserved for the McMansion connotation.
People don't understand what a McMansion is at all
Wild. That looks more like it should be an in-law cabin or pool house for an adjacent property than a stand alone single family home.
All it takes is a large amount of people getting laid off to trigger another housing crash
Something like 40 people a day move to NWA. The market isn't crashing.
When I say large, i meant a large group of the working class in the entire U.S. and not just in northwest Arkansas.
Why would large amounts of working class folks all across the US lose their jobs?
It would have to be the collapse of Walmart to lay that many people off in town... And that's not happening anytime soon
Everyone saying they’ll get $575k is likely invested in that price in some way. Whether an agent and distantly linked to it, or lives in the area or owns a similar property. With it previously listed at $550k nobody in their right mind is offering $575k. More likely landing at $500k initial offer and agreeing to something between $525-540k if they really want it.
I agree. And that practice is more likely driving up the price of surrounding homes too. I saw a few homes where the estimate was much lower than the asking price. I’m curious who’s actually buying at the asking price.
People that sold their 1,500 sqft home in California for 2.5M then relocated here and want to build a 4-5,000 sqft home for 2-3M