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Cabot, AR Real Estate News

By Angie Vandenbergh, A Crye-Leike Blogger
(Crye-Leike, Realtors)
Crye-Leike, Realtors Little Rock Real Estate Company has a 12,000 square foot retail center in Cabot, Arkansas. With a total project cost of more than $2.4-million, the project is further demonstration of the real estate company's commitment to serve one of the fastest growing Little Rock homes markets in the state of Arkansas. "In addition to being a home-base to more than 50 Little Rock realtors with Crye-Leike, Realtors, the new center provides space for a fully staffed Realty Title and Escrow office," said Jeff Bell, Crye-Leike, Realtors Vice President and General Manager for the company's Little Rock real estate Region. "Our investment just further solidifies our position as the market leader in Central Arkansas real estate." The center is located in a growth area of Cabot, AR, 208...
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By Charles Haverfield, Visit me at Cabot4sale.com
(CRYE-LEIKE Realtors)
It is the time of year when people hove other things on their mind then buying a home. Family is coming to town or you are going out of town to see them. Presents still need to be found and bought. There is also food planning. Everyone wants something special to eat during the holidays. On top of all that the daylight is shorter and the days are colder.Nobody in Cabot or anywhere wants to drive around neighborhood to neighborhood to look at homes. Many Cabot Realtors do not know how to make your life more simple. There is a listing notifier tool that Cabot Realtors can use and help make your life simple. You tell me what type of home you are interested in. It does not have to be in Cabot it can be anywhere in the area, and I will fill out the criteria. Anytime something comes up that me...
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By Charles Haverfield, Visit me at Cabot4sale.com
(CRYE-LEIKE Realtors)
There is no getting around it, the real estate market in Cabot Arkansas is slowing down. I try to post something every month telling consumers about the local real estate market. For the last couple of months I have seen subtle signs of a slow down, but tried to remain optimistic. This month I have looked at the numbers and they do not lie.It has been consistent for the past four months now. The real estate market has been dwindling down. In the month of October there were 54 homes sold. That number is down substantially from last year when there were 88 homes sold in the month of October.The good news is that it is not as much of a decrease here as other parts of the nation has seen. It looks like the national real estate market and the local real estate market is not going to recover ...
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By Charles Haverfield, Visit me at Cabot4sale.com
(CRYE-LEIKE Realtors)
I had that question asked to me yesterday by an investor that I work with on a regular basis. I had to take a second and and think of what to say. I am not the type to spout off something so I can get people to buy a home from me and then they end up getting ripped off because of what I said.After a short pause I explained to him that now is a great time to buy in Cabot Arkansas for an investor. Let me explain what this "investor" does and how I think for what he does it is the perfect market. My client buys homes at a discount price and then sells them 3-5 years down the road after renting them out. This is a great way to make money in this market.Many people watch these shows on tv and think that they can buy a home and fix it up in a couple of months and sell it for thousands more th...
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By Charles Haverfield, Visit me at Cabot4sale.com
(CRYE-LEIKE Realtors)
It is no secret that the foreclosure rate is high all around the nation. This has helped lead to all of the lender issues that the news has covered so much. The good news is that you can profit from the foreclosures. Investors in Cabot have all sorts of opportunities to buy property for cheap and profit from them.I am not saying that you can get a $150,000 home for $100. Banks ask professionals what the value of a home is, they do not let them go for what some so called "Real Estate Pros" say is pennies on the dollar. Buying a home for 20-30 percent less than market value is possible though. I know, I just bought one. I was able to close on a home that appraised for $103,000. I got the home for $86,000. Okay so it is not a full 20%, but if you include the $3000 in closing cost the bank ...
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By Charles Haverfield, Visit me at Cabot4sale.com
(CRYE-LEIKE Realtors)
It seems like almost every small town in America has their own annual event that locals can come out and enjoy. Many of the towns advertise the events to maybe attract newcomers to the area. Most of the time the events that I have seen have some things in common. They all have a carnival, booths for local businesses, and games for kids. The reason these events all have these things is because you have to entertain the kids & local businesses will do anything to get their name out.Cabotfest in Cabot is no different then that. There will be all of the above listed items and more! Cabotfest will have live entertainment, a rock climbing wall, motor cycle run, and a car show. There is a lot of other things that will be available in Cabotfest also. Come out and bring your family to Cabotfest,...
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By Charles Haverfield, Visit me at Cabot4sale.com
(CRYE-LEIKE Realtors)
I am a huge high school football fan and naturally I am a fan of the Cabot Panthers. The Panthers are coming of an unexpected loss last week to Little Rock Catholic. This week I think the Panthers should rebound and get their fifth win of the season versus North Little Rock. North Little Rock is 2-3 on the season and 0-2 in league play.I started a "Panther Poll" on my website to see what people thought about the number of points Cabot high would win by this Friday.Just follow the link and look for the poll in the middle right hand side of the page to vote. I will update the poll every week for people to vote. Occasionally I will have a contest and the winner will get a gift certificate to somewhere in town.Vote as many times as you would like. Go Panthers!!!Cabot High School Panthers Po...
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By Charles Haverfield, Visit me at Cabot4sale.com
(CRYE-LEIKE Realtors)
This past week the Federal Reserve dropped interest rates by 1/2 %. Many people may hear that number and think who care it is not even a full percentage point. I would like to take a minute and explain what a 1/2 % percent can do for you on a mortgage note.The Note before the 1/2 % dropLet's say that you bought a $200,000 home recently at a 6.75% interest rate. Your principle and interest payment would be $1297.20 per month. Starting off, $1125 per month would be just going to interest. The other $172.20 would be going towards the principle. The Note After the 1/2% dropThis is figured with the same scenario, but the interest rate will be 6.25%. Your principle and interest would be $1231.43. With approximately $1041.66 a month going to interest and $189.77 going to the principle each mon...
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By Charles Haverfield, Visit me at Cabot4sale.com
(CRYE-LEIKE Realtors)
Lat week we were in the process of writing a contract on your first home. We spoke about earnest money and how much you may want to put down. We also touched on what it will take for you to lose your earnest money. This week I want to talk about the next three sections of the contract. They are title, survey, and home warranty. The title and survey section will be quick, but I want to spend some time on home warranties to explain the benefits.TitleYou will want for the seller provide title insurance and a clear title. Generally this is not a dispute between buyers and sellers. It is something you should require your sellers to do though. SurveyIf the sellers of the home you are buying have lived in the property for long, it may be in your best interest jto get a new survey of the proper...
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By Charles Haverfield, Visit me at Cabot4sale.com
(CRYE-LEIKE Realtors)
There are two primary issues that need to be handled when selling a home, price and exposure. The home has to be priced right for buyers to think about buying the home. It has to be somewhat close to market value. The other issue is exposure. You can have your home priced right, buy if nobody knows the house is priced right then does it really matter?There are several ways to gain exposure for a home. Today I am going to talk about the Internet. Not all of the big name websites, but the website that your real estate agent uses. If used right individual agent websites can be a great way to target local and distant buyers.Most agents will tell you they have a website if you ask them. Some will even tell you they have a great website. A great website with no exposure is the same a a great ...
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By Charles Haverfield, Visit me at Cabot4sale.com
(CRYE-LEIKE Realtors)
Right now in Cabot Arkansas there are new homes bing built everywhere. If some one is looking for a new home somewhere in the area and has specific tastes, they could find what they are looking for in or around Cabot AR. There are new homes on small sub-division lots, there are new homes on 1-3 acres, and there are new homes for sale on 30-50 acres in the Cabot area. It all has to do with what you are looking for and how much you are willing to pay. What are all of these new homes going to do do housing market in Cabot AR?New Construction sales in Cabot are still strong, but showing signs of weakness. There are over two hundred and fifty new construction homes on the market today. That would not be a lot in bigger town, but with a town of only 20,000 people that is a lot of new construc...
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By Charles Haverfield, Visit me at Cabot4sale.com
(CRYE-LEIKE Realtors)
Not really. I am joking there is the potential to make good money in Cabot real estate, but consumers should consider a couple of things. We have a a lot of costs!! Being a real estate agent is like running a one man/woman business. Let me take some time to explain some of the expenses that a real estate agent has. I can not speak for every agent, but these are some costs that I have as an agent.1. Half of Everything is splitWhen I close a deal I hae to split half of it with my broker. The broker takes the liability for the transaction and covers costs for the office so they get a good chunk of the agents money.2. A Third of That Half Goes To TaxesThat is right, one third goes to taxes. There are ways to lower that amount, the best way is to become established as a sub-chapter S corpora...
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By Charles Haverfield, Visit me at Cabot4sale.com
(CRYE-LEIKE Realtors)
It has been a while since I last posted about selling you home by your self. These posts are all dedicated to what a Cabot AR for-sale by owner can do to help them sell their home themselves. Last post I spoke about how to act when showing your home and how to subtly pre-buyers.This week I will talk about negotiating a contract effectively and Knowing your buyers. These are both important aspects of the process when you have found someone that is interested. Negotiating a Contract EffectivelyIt is important when drawing up a contract that you understand everything in the contract. Be sure that you use a standard state accepted form for a contract. The contract will point out details such as inspections and repairs, termite contracts, surveys, closing date, and other issues that it is im...
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By Charles Haverfield, Visit me at Cabot4sale.com
(CRYE-LEIKE Realtors)
The number of homeowners receiving foreclosure notices hit a record high in the spring of this year.  The spring quarter is the third consecutive quarter that foreclosures reached a high. The delinquency rate is up also. This is the notice that lets people know they are behind on their payments.Many economist feel the reason for the number of foreclosures is due to loss of jobs in the Midwest and and over inflated housing market in the coastal states. Many people in the manufacturing industries in the Midwest have lost their jobs. Many of the workers work for auto-companies that are trying to cut labor. The over inflation of coastal homes is due to the five year real estate boom where people were buying homes and selling them quickly to make a quick profit. This over-inflated the prices...
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By Charles Haverfield, Visit me at Cabot4sale.com
(CRYE-LEIKE Realtors)
Last week we moved into writing a contract and some things that you need to discuss with your Realtor. Discount points are something that should be mentioned and evaluated to see if they are the best option for you. I would like to continue the discussion of writing contracts and some things to consider when writing them. Once you figure out what to ask the seller to pay for in your prepaid and closing costs the next step will be thinking about earnest money or "good faith money". Some people do not understand this concept. I want to take time to explain it to you and why it is important.Most sellers like to see earnest money because it lets them know that you are serious about the contract that you wrote to them. Basically earnest money is you saying I am serious about this contract, I...
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By Charles Haverfield, Visit me at Cabot4sale.com
(CRYE-LEIKE Realtors)
There are several websites that people can go on and look at homes. Different websites offer different things you can look for. Some just let you go as far as: price, bedrooms, and bathrooms. Others let you getmor in-depth and let you look for things like schools and square footage. Many people find what they are looking for on these searches and end up purchasing something.There are some people that want more specific things in their home. Some people want a surface range oven or a home that runs on all electric or even a certain color of trim. You can not type those critereas into a home search on websites like realor.com or homes.com. You would have to go through every home and look at pictures to see if they have the surface range you are looking for or the color of trim you like. E...
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By Charles Haverfield, Visit me at Cabot4sale.com
(CRYE-LEIKE Realtors)
Many people are unclear about what discount points are. I wanted to take some time to explain discount points and how they may or may not be beneficial to you.Generally if you plan to live in a home for several of years discount points may not be a bad idea. Discount points give a borrower the option to buy down the interest rate on their loan. One discount point is one percent of the loan. If you buy a home for $100,000 a discount point will cost $1000. Typically one discount point will lower the the interest rate by .125 percent. So a loan at a 6.5 percent rate will be 6.375 percent after a discount rate is purchased.As a consumer you must determine if that difference in interest rate will pay for the $1000 you spent. Here is how you do it.$100,000 Loan - 30 Year Term 7.5% Interest, n...
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By Charles Haverfield, Visit me at Cabot4sale.com
(CRYE-LEIKE Realtors)
Last week I wrote about the little things a good agent could do to help save you time when looking for your new home. Once you find a home you like you should have your agent ask for the property disclosure before making an offer. This will give you a chance to see everything the seller knows is wrong with the property. If you see the disclosure and it looks good the next step is the contract.I will break up the contract writing part into a couple different posts.The first part of the contract writing starts with your agent doing a market analysis to see what a good first offer on the home would be. Have them show you and explain why they think this would be a good offer. Your agent should be able to explain all of the comparable homes they used and why they used them.Once you find a go...
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By Charles Haverfield, Visit me at Cabot4sale.com
(CRYE-LEIKE Realtors)
Home prices fell 3.2% in the second quarter. That is the steepest decline since the Standard & Poor's began tracking national housing. After 5 years of steady rising housing prices the decline was to be inevitable. Many areas of the country have seen extremely rapid inclines in home prices. With this rapid increase comes a rapid decrease.Luckily homes in Cabot have not rapidly seen an increase in price. Yea, they did see a higher than normal increase, but not as major as other places in the nation. This is not to say that Cabot AR is immune to real estate slump, but hopefully the decline will not be a sharp as other parts in the nation.The Federal Reserve is taking measures to combat the decline in housing. They have lowered the federal fund rate and are expected to lower it further in ...
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By Charles Haverfield, Visit me at Cabot4sale.com
(CRYE-LEIKE Realtors)
Generally, when a home seller lists their home to sell they want to get rid of the property as soon as possible. No home seller wants to list their property and have it sit on the market for months. There are small things that a home seller can do to increase the sales appeal of a home to sell it faster and for more. I will periodically post tips just for Cabot AR home owners and other times I will post tips for homes in general.Today I would like to focus on tips specifically for Cabot AR home owners and what buyers in the area seem to prefer. Today I will be talking about what a certain type of loan requires a home to have.Be Sure Your Home Meets Certain Loan GuidelinesDifferent types of loans require different guidelines for homes to meet. There are a lot of first time home buyers in...
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Cabot, AR Real Estate Professionals