Bentonville, known for its annual Fall Festival, is an up-and-coming suburb of Little Rock, Arkansas. The population is around 80,000 and has a median household income of around $75,000. Now, this may not seem like a huge town, but the real estate market is doing very well, and prices are rising fast.
If you are looking to invest in some property, but don’t know where to start, look no further. Here’s a short guide that will help you figure out whether or not this is the right location for your real estate needs.
Is The Real Estate Market Looking Up?
Since the start of this year, the real estate market in Bentonville, AR has been doing very well, according to data from the National Association of Realtors (NAR). The state had a housing price increase of 7.9 percent in March and April 2018 and a home-buying activity that was 24.7 percent higher than in the same period in 2017. Since then, the real estate market has maintained a good steady pace, and today, it’s a buyer’s market, according to NAR’s Chief Economist, Lawrence Yun. “What we’re seeing now is a bit of a balanced market, where buyers are able to find homes that they can afford, but it’s still a seller’s market,” he said.
Is The Food Scene Something To Seek Out?
If you’re looking for a place to eat, there’s plenty to choose from, and you won’t get bored easily. There’s a restaurant offering every type of food under the sun, from steaks and seafood to pasta and pizza. If you’re looking to invest in property, you might want to consider this aspect as well.
Are People Feeling More Secure?
Since the start of this year, the number of homeowners in Arkansas who are feeling more secure is up, according to the NAR. The rate of those who reported feeling safe increased by 7.4 percent in April, and 19.3 percent in the last six months. This could be because more people are seeing the positive effects of the recent tax law changes. The homeownership rate in the state increased by 0.7 percent in the last year due to the newly passed tax law. The number of those who felt that their financial situation had improved also rose by 7.4 percent in April, and 15.2 percent in the last six months.
While it’s great to see more people feeling more secure, this increase could be a cause for concern. Will more people feel the need to sell property, or will they stay put and continue to make their homes safe? It’s hard to say, but for now, it’s a good sign that more people are seeing the value in owning a home and are willing to spend more money to make it safer and more comfortable.
Does The Weather Make A Difference?
If you’re going to be living somewhere, you may want to consider the weather conditions. Arkansas gets its name from the rivers that snake through the state and the constant changes in weather conditions that these rivers provide. While it can get extremely hot and dry in the summer, the change in seasons is amazing. In the winter, the temperature can drop to a point where you’ll want to stay indoors, and it can snow and ice for part of the year. If you’re looking for a place to invest, you may want to consider this aspect of the state, as well as the fact that you’ll be living somewhere close to nature.
Overall, it’s a great place to invest if you’re looking for natural beauty, plenty of wildlife, and a relaxed atmosphere. There’s also a lot of opportunity to make money, as there’s a demand for all types of properties, from apartments and single-family homes, to commercial property and multi-family dwellings. The only downside is that it does get very hot and humid, so if you don’t like extreme temperatures, this might not be the right place for you.
Is The Property Tax Worth Considering?
One of the biggest differences between living in Arkansas and living in some other state is the property tax. In Arkansas, property taxes are calculated based on a property’s value, not on its current usage. This is one of the reasons why real estate prices are so much higher in the state than they are in other places. People who want to live in a more affordable place will have to look elsewhere.
Where Else Can You Go To Find Homes To Invest In?
If you’re looking for a place to invest, but don’t want to live there, you have many options. There are places like Vermont and Oregon that don’t have the extreme temperatures that are common in other parts of the country. Vermont is one of the most expensive states in which to purchase real estate, but you’ll get your money back many times over, and it’s one of the most popular places for real estate purchases. The same can be said for Oregon, where it’s not uncommon for real estate prices to increase by 20 percent or more each year.
Apart from those two states, you’ve got a whole lot of options. There are a number of places throughout the country where you’ll find affordable homes and lots of opportunities to make money. You may want to consider some city neighborhoods, where land is so expensive that you can’t build anything other than a single-family dwelling with a couple of attached townhouses or apartments. There are also places like Jacksonville, Florida where land is so scarce that developers are building upwards using concrete and steel. If you’re looking for a place to invest, there are many options out there, and you won’t be disappointed.