Q: What Type of Properties Are Flying off the Market?

Jonesboro Real Estate Video Blog with Eric Burch

Take a look at just how hot our market is.

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Today I was going to show off some really awesome listings that recently became available on the market, but as it turns out, they all flew off the market before we even got a chance to publish this blog post! That just goes to show you how hot this market truly is. Here are a couple of examples of the types of homes that buyers have been snatching up right and left:

1. 805 Smithfield, Jonesboro, AR 72401—$299,000. This 4-bed, 3.5-bath home is newly constructed and sold for a great price.

2. 5109 Deerfield Dr., Jonesboro, AR 72404—$174,900. This 3-bed, 2-bath home has brand-new flooring in the main living area and the hallways. Being priced under $175,000, there was no way that it would stay on the market for long!

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Buyers in the market need to make sure they’re acting quickly.

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We also had a group of new construction homes located in The Orchard, a development we talked about a few weeks ago on our blog. This is a brand-new, master plan development full of craftsman-style homes located in the Valleyview school district. These one-level homes range from $199,000 to $225,000, and there were a ton of builder incentives on them. Since homes are flying off the shelves, buyers in the market need to make sure they’re acting quickly and writing strong offers that will stand out amid their competition. Here are a few tips to help you craft an eye-catching offer:

1. Make your best offer first. Don’t write unrealistic offers for which the home couldn’t appraise. In this market, you can’t afford to haggle because the seller will likely move on to one of their numerous other offers.

2. Have a solid pre-approval letter. A pre-approval means the lender has already collected your paperwork, is ready to submit it to underwriting, and the only other thing you need is an appraisal. A fully pre-approved offer is almost as good as cash.

3. Make an above-average earnest money deposit. The earnest money deposit is usually about 1% of the purchase price, but if you deposit more, that’s a good way to stand out among the competition. Remember: Earnest money is a signal of good faith that tells the seller you’re committed to making a win-win deal. If you’re interested in taking a look at any property in the Northeast Arkansas area, don’t hesitate to reach out to us. Additionally, you can also reach out to us if you’d like your own home featured in one of our listings videos. Contact us for a free home evaluation and we’ll get your home in front of as many buyers’ eyes as possible. Hope to hear from you soon!