New Wave of Foreclosures To Hit The Market

June 15, 2012 By Leave a Comment

Bentonville/Rogers/Bella Vista To See New Wave Of Foreclosures For Sale

This is good news for investors and buyers. Hopefully, there will be a lot more good deals hitting the market soon. Basically, what happened was in the Fall of 2011 a bankruptcy case questioned whether foreclosures in Arkansas had been completed in accordance with Arkansas State Law. This caused foreclosure sales to almost come to a halt especially for the properties owned by big out-of-state banks.  The foreclosures were recently deemed judicial and the backlog of properties are beginning to hit the market. You can read the full story here at Arkansas Realtors Association Blog Post from June 12, 2012.

It is basic economics. The demand has been high, the supply is low, and the prices have gone up. It looks like the supply will increase, but with strong demands for the product who knows if prices will fall or remain steady. It is my guess that within a period of months the active investors will have bought up what they can, the inventory will build, and the prices will fall. Who knows?

Here are some local real estate statistics to put it in perspective. From January 1, 2011 to June 15, 2011 there were 578 Hud Owned or REO properties sold. You can examine the Market Analysis Report Below to see the sales data for that period of time.

Market Analysis Report
Property Type: Residential (RES) Status: Sold Number of Properties: 578
Bedrooms Full Baths List Price Square Feet for Stats Pro LP per Htd SF Sale Price SP per Htd SF SP / LP DOM
High 7 5 $824,900 6,022 $144.97 $787,500 $138.4 142.3% 556
Low 1 1 $9,900 576 $8.32 $3,500 $2.94 35.4% 14
Average 3 2 $96,450 1,790 $50.31 $92,105 $48.19 95.79% 118
Median 3 2 $78,400 1,570 $50.51 $75,000 $48.29 97.8% 97
Search Criteria
Status Sold
County BENTON
Subject To HUDOWNED , REO
Sold/Leased between 1/1/2011 – 6/15/2011

 

For the same period this year, January 1, 2012, to today, June 15th, 2012 there were 245 Hud Owned or REO properties sold. You can examine the Market Analysis Report Below to see the sales data for that period of time.

 

Market Analysis Report
Property Type: Residential (RES) Status: Sold Number of Properties: 245
Bedrooms Full Baths List Price Square Feet for Stats Pro LP per Htd SF Sale Price SP per Htd SF SP / LP DOM
High 5 5 $709,000 5,408 $234.71 $675,000 $232.83 271.6% 922
Low 1 1 $18,000 832 $13.62 $13,000 $10.83 54% 1
Average 3 2 $109,583 1,770 $58.16 $105,500 $56.21 96.33% 119
Median 3 2 $84,900 1,524 $59.07 $82,500 $56.44 97% 73
Search Criteria
Status Sold
County BENTON
Subject To HUDOWNED , REO
Sold/Leased between 1/1/2012 – 6/15/2012

It is interesting to point out that the average home in both of these reports is almost the same size home for both 2011 and 2012. However, with the greater supply in 2011 the sale price per foot was $48.19 averaged across 578 sold properties whereas it is $56.21 per foot for 2012 averaged across 245 properties.

If you are an investor or buyer and would like more information about local real estate you can email me at CodyBurnettRealtor@gmail.com or call me at  479-640-8375.

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HUD Homes For Sale In Bentonville & Rogers School Districts

December 21, 2011 By Leave a Comment

$100 Down Payment on HUD Homes For Sale In Bentonville & Rogers School Districts

Most of these HUD Owned Homes can be absolutely STOLEN right now. These homes are generally priced extremely well so that they can be sold very quickly. If you are an owner occupant you can buy some of these homes for $100 down payment. Click the link to learn more.

The home pictured here originally sold for $137,000 in June of 2007. The Public Remarks in MLS state that this homes is a single story, traditional style home built in 2002. It has natural gas heat, central air, and sits on level lot.  The home features 3 bedrooms, 2 baths, a deck, and 2 car attached garage.  Approx. 1325 heated sq.ft. The property may be eligible for $100 down program, ask your agent for details.

If you are an investor you can buy these homes and keep them as rental property. See my blog post titled “bank owned properties are money makers” for additional information.  The home pictured here would rent for $900 a month or $10,800 a year. The home could be bought for probably $65,000. The down payment would be 3.5% or $2275. The payment on it if it were bought with a FHA Loan, given a 30 year amortization, would be less than $500 a month which includes taxes and insurance. This would allow $400 a month to apply toward principal reduction. The home would be paid off by the end of 2019. In 8 years this home will probably be worth over $130,000. The investor in this scenario would have a $130,000 asset sitting out there that is paying them at least $900 a month. The rent amount will adjust up for inflation.

There is another HUD based program that allow Teachers, Fire Fighters, EMT’s, and Law Enforement Workers to buy a HUD Home for 50% of what it is listed for!! There is a $37,000 home in this list of 13 homes that a Teacher, Fire Fighter, EMT, or Law Enforement Worker will be able to buy for $18,500.

Please call or email me if you would like the most up to date list of HUD Homes for sale. My email address is CodyBurnettRealtor@gmail.com. My phone number is 479-640-8375.

See the stats for the HUD Owned Homes in Bentonville, Arkansas School District and Rogers, Arkansas School District.

Market Analysis Report
Property Type: Residential (RES) Status: Current Number of
Properties: 13
Bedrooms Full Baths List Price Square Feet for Stats Pro LP per Htd SF Sale Price SP per Htd SF SP / LP DOM
High 5 4 $139,000 2,848 $70.07 $0 $0 0% 378
Low 2 1 $37,000 1,000 $22.23 $0 $0 0% 6
Average 3 2 $65,106 1,554 $43.36 $0 $0 0% 106
Median 3 2 $60,500 1,325 $38.71 $0 $0 0% 76
Search Criteria
Status C
Subject To HUDOWNED
School District Bentonville , Rogers
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Bank Owned Properties in Bentonville & Rogers School Districts Under $100K.

November 17, 2011 By Leave a Comment

Click To See All Bank, Corporate, & HUD Owned Homes Under $100K

There are 37 bank owned properties under $100,000 in Bentonville and Rogers School Districts as of the publish date of this blog post. If you would like the most up to date list of homes shoot me an email. My email address is CodyBurnettRealtor@gmail.com.

If you are looking for a bank owned home to buy and occupy, buy and remodel for a rental, or buy and remodel to flip, I can help. I specialize in bank owned propeties. There is alot of money to be made in rehabilitating propeties like these. For more information click here to read my post titled ” Bank Owned Properties Are Money Makers.”

I have been a Buidler/Realtor for almost 15 years. When the home building business crashed I started remodeling bank owned homes. I have been remodeling homes for rentals, remodeling homes to flip, and remodeling homes for other people since 2006. I can help you find a deal that is profitable.

Email or call me for more information. My number is 479-640-8375 and my email address is CodyBurnettRealtor@gmail.com.

Click Here To Perform A Simple Yet Powerful Search All Of Northwest Arkansas Homes For Sale

 

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Buy A HUD Home For $100 Down Payment From Now Until 10-1-2012

November 1, 2011 By 1 Comment

HUD Owned Homes Just Got More Affordable

From now to 10-2012 you can buy an already incredibly low priced HUD home for $100. It used to be 3.5% of the purchase price, but in an effort to assist first time Buyers and keep inventories low the FED will allow it to be $100. In order to qualify you must buy the home to occupy as a personal residence to qualify for this special deal. This is to eliminate home investors from buying up all the properties.

Another requirement is that you must make a full price offer in order to qualify for the $100 Down Payment. The process is actually very simple. First, take a look at the website http://www.hudhomestore.com to find HUD properties for sale near you. Then find an FHA Lender to assist you with the required FHA financing. I can refer you to several lenders who can assist you with FHA financing. Then locate a HUD Registered Agent, like yours truly, to assist you with making an offer.  If the home needs repairs be sure to speak the lender about an FHA 203k Loans.

This $100 down payment program is designed for first time Buyers, but it will be helpful to any Buyer who is low on money. If you have any questions call or email me. My email is CodyBurnettRealtor@gmail.com.

Click here to become a friend http://www.facebook.com/CodyBurnettRealtor

Click here to see before and after photos of some of my most recent projects http://www.facebook.com/PrecisionCustomHomes

Filed Under: Benton County Real Estate, Bentonville Real Estate, Bentonville Realtor, Buyers, Featured Posts Tagged With: , , , , , ,

Bank Owned Properties Are Money Makers by Bentonville Realtor Cody Burnett

October 31, 2011 By 5 Comments

Turn Flat Stocks/Cash To A 20% ROI By FLIPPING HOMES

If you could buy a car that you know is worth $20,000 for $10,000 would you do it?  I most certainly would. That is exactly what is happening with some of the houses for sale right now in our area. Some of these bank owned homes can be bought for half of their retail value. It does not take a rocket surgeon to see the value in that.

It is not exactly that simple. The homes generally need repairs and upgrades, but if you buy it for half its value then you have plenty of room to make the improvements needed and still turn a good profit. If you are not a craftsman, don’t worry, there are plenty of professionals out there that can assist you with the improvements, myself included. You can click here to see before and after photos of some of my most recent projects at http://www.facebook.com/PrecisionCustomHomes.

If you have cash sitting in the stock market that has remained flat, take it out and put it to work. If you have cash in CD’s or sitting in an account that is making you 2% (if you are lucky), take it out and put it to work. If you are fortunate enough to have equity in your home, look into a HELOC (Home Equity Line of Credit) and put the equity to work.

If you have any interest in learning more about what kind of money you can make, how these deals work, or what homes are available, send me an email or call me. My email is CodyBurnettRealtor@gmail.com. My phone number is 479-640-8375.

Filed Under: Benton County Real Estate, Bentonville Real Estate, Bentonville Realtor, Buyers, Featured Posts, Front Page Tagged With: , , , , ,

Bank Owned Properties in Northwest Arkansas by Bentonville Realtor Cody Burnett

October 28, 2011 By Leave a Comment

Stocks Are Flat, But Rentals Are Red Hot

If you have the cash for a 20% or more down payment, BUY A RENT HOUSE!!

If you are like me you have seen your stocks remain the same or drop in value over the last few years. I have taken all the funds that will not cause me to incur penalties out of the stock market and put it in affordable real estate. I have either flipped homes or kept them as rentals. I fell really good about the investments I have kept.

My broker, Dan Hein, manages around 200 properties. My friend Larry manages around 225 properties. All of these properties remain over 95% occupied. The 5% vacancy accounts for people that have moved out and the month the property would sit between tenants. This month is generally to allow carpet to be steam cleaned and updates performed. The rental market is strong primarily due to the stringent rules for bank financing and the fact that the economy has negatively effected alot of folks credit.

There are 2425 listings in Benton County. There are 408 of those are bank owned, corporate owned, REO’s or shortsale. All of these represent an opportunity to buy a home below an already low market value. The old adage “Buy Low, Sell High” applies here, sort of, maybe it should be more like “Buy Low, Rent High”.  If would stronlgy recommend a substantial down payment or to completely pay off the property if you can. The more equity you have, the more of the rent you can apply toward principal reduction. If it is paid off then you can pocket more of the rental income.

A mathematical example would be buying a $75,000, 3 bedroom home, in Bentonville Schools. There are 9 of these available right now. Then let’s assume you put $10,000 into making it look new again. Your investment is $85,000. A bank would require 20% down on an investment property . That is $17,000. Your investment is now $68,000. Your payment would be around $500 a month. The rent on a decent 3 bedroom in Bentonville Schools averages $800 a month. This would allow you to apply $300 a month towards paying the home off.  If you paid cash you would bring in $9600 a year on your $85,000 investment. That is 11% ROI annually. Then you have to consider that this home will probably be worth over $150,000 in ten years. You have an asset that gains value, produces income, creates a tax shelter, and you are in control of it. The stock market cannot do that right now unless you are very lucky with individual stocks.

Call me or email me and we can discuss it. My number is 479-640-8375. My email is CodyBurnettRealtor@gmail.com.

 

 

Filed Under: Benton County Real Estate, Bentonville Real Estate, Bentonville Realtor, Buyers, Featured Posts, Front Page Tagged With: , , , , , , ,

Bank Owned Properties in Bentonville & Rogers School Districts Under $100,000.00

October 27, 2011 By Leave a Comment

Click To Sell Bank Owned, Corporate, & HUD Owned Homes Under $100K

There are 37 bank owned properties under $100,000 in Bentonville and Rogers School Districts as of the publish date of this blog post. If you would like the most up to date list of homes shoot me an email. My email address is CodyBurnettRealtor@gmail.com.

If you are looking for a bank owned home to buy and occupy, buy and remodel for a rental, or buy and remodel to flip, I can help. I specialize in bank owned propeties. There is alot of money to be made in rehabilitating propeties like these. For more information click here to read my post titled ” Bank Owned Properties Are Money Makers.”

I have been a Buidler/Realtor for almost 15 years. When the home building business crashed I started remodeling bank owned homes. I have been remodeling homes for rentals, remodeling homes to flip, and remodeling homes for other people since 2006. I can help you find a deal that is profitable.

Email or call me for more information. My number is 479-640-8375 and my email address is CodyBurnettRealtor@gmail.com.

 

 

Filed Under: Benton County Real Estate, Bentonville Real Estate, Bentonville Realtor, Buyers, Featured Posts, Front Page Tagged With: , , , , , , ,