Is it still a buyer’s market today in Little Rock? With our experience in the Little Rock market, we often are asked this question.
This will require more of an explanation as opposed to a simple answer.
The State of the Market for Buyers in Little Rock California
Lets start with the obvious – it really depends on the type of the house and where it is located.
Traditional single family houses located in great areas around town do not stay on the market long. There will often be multiple offers on a desirable home. Other houses in less desirable areas will sit on the market a bit longer.
Most buyers are looking for common characteristics – a clean and safe neighborhood, accessibility to highways and shopping centers, good school district, and many other things. Properties that can provide all of these characteristics will put the seller in much more control.
Condos/townhouses that are in less desirable areas of town or have an outdated look will typically not give the seller much leverage. Prices are down inLittle Rock for these properties but are expected to increase.
Real estate investment is hot right now. There is a ton of over-seas money flowing into Little Rock real estate. Foreign investors like to park their money into United States real estate.
Overall, those people in a position to pay cash for properties have been picking up the good deals in the marketplace. They also drive up competition and create bidding wars on properties because of their financial capabilities.
Lots of sellers are trying out speculative prices just to see if anyone bites, but investors will stick to a formula and are getting priced out of a lot of houses right now.
Financing rates are at an all-time low. Banks are still being strict but if you qualify for a mortgage you will more than likely get it all record low rates.
Overall the markets remain incredibly polarized – there is a lot of action at the very top and the very bottom, with the biggest challenges in the middle.
Does this all make sense? If not, we’d love to help you understand the market in more detail.
We are anticipating a big shift in the market and economy and big changes could be coming soon.
We’re investing in Little Rock because we believe in the community and the people here.
If you need to sell a property near Little Rock, we can help you.
We buy properties like yours from people who need to sell fast.