November 12, 2025 • 36 mins
A balanced market doesn’t mean boring. We unpack why months of supply, days on market, and price per square foot are the true compass points for Northwest Arkansas real estate right now, and how those trends translate into leverage for buyers, sellers, and investors. With guest analyst Desiree Stock of NWA Look, we dig into county-level shifts, transaction hotspots, and the ripple effects of builder incentives that are making some new construction deals beat comparable resales on total monthly cost.
We get practical about upgrades that actually move the needle: paint and countertops consistently shorten days on market and improve rent, while pools tend to deliver more joy than equity. On the investment side, we explain how inspection periods have become a second round of negotiation, why inventory upswings differ between Benton and Washington counties, and how to weigh short-term price seasonality against the more reliable rise in price per foot. Expect clear guidance on reading submarket data, timing decisions with seasonality, and choosing improvements that align with neighborhood ceilings, not just taste.
Looking ahead, we spotlight the cities we’re most excited about: Pea Ridge, Bella Vista, Tontitown, and Elm Springs, thanks to improving access, lower entry costs, and spillover from core markets. We also touch on Centerton’s infrastructure constraints and what that could mean for supply, plus a bullish case for Springdale’s housing demand and Fort Smith’s steady, lower-competition opportunities. If you’re refining your buy box, debating when to sell, or deciding between new build incentives and resale value, this conversation gives you the framework and the data to act with confidence.
Enjoyed the insights? Follow the show, share this episode with a friend who invests in NWA, and leave a quick review so more people can find these market-driven breakdowns.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
SPEAKER_02 (00:07):
Welcome to Northwest Arkansas Investing Podcast, your
go-to source for real estateinvesting in Northwest Arkansas.
SPEAKER_01 (00:12):
With your seasoned investor just starting out, we
bring you expert insights,market trends, and practical
strategies to help you buildwealth through real estate.
SPEAKER_00 (00:20):
From buying and selling to property management
and long-term investmentplanning, we cover it all so you
can make smart, informeddecisions in this fast growing
market.
Let's dive in.
Welcome back to NorthwestArkansas Investing Podcast.
I'm uh here with my co-hostsZach Stanley and Brian Wagers.
And uh we've got an awesomeguest today that we're excited
about.
Um, we're here with Miss DesireStock, and uh she's the the
(00:44):
co-creator with uh Mr.
Stuart Collier um of NW NWALook, and uh which really you
know helps us unpack the de thelatest numbers in data in
Northwest, Arkansas real estate.
And so we're excited to just getto know her and get to know how
this started um for her and anduh and then really dig into the
data and and help investorsunderstand um kind of what's
(01:06):
going on and and be a little bitmore up to date.
Um and she'll also talk aboutsome platforms that she has,
social media, newsletters, stufflike that, that you can kind of
continue to stay up to date withand uh we're excited about that.
So thanks again for being withus.
SPEAKER_03 (01:19):
Thank you for having me.
I appreciate it.
SPEAKER_02 (01:21):
Desire, it's huge that do you provide something
like you do because it for thepeople listening, it's important
to know the data because if youdon't know the data, you're just
free, free willy doing stuff.
And so having platforms likeyourself, it's really
appreciated.
So thanks for what you're doing.
SPEAKER_03 (01:35):
You're welcome.
SPEAKER_02 (01:36):
Can you give us a little dive into a little bit
about you, uh, NWA look?
Just give us a 30,000-footoverview of that.
SPEAKER_03 (01:43):
Okay.
So I grew up in the real estatebusiness.
My mom's a real estate broker,and she's always kind of done
the numbers.
And so for me, it was justnatural to bring it into my
business.
Um and so informing the publicis huge.
I feel like most people on theresidential side make things
emotional rather than along-term goal, and it should be
(02:06):
both.
Um, and so part of that is whywe created NWA Look.
Um, and also there's noup-to-date data that's
published.
And so that was our D idea ofdoing that.
SPEAKER_02 (02:18):
Yeah.
What what why do you thinkpeople make it emotional as
opposed to data driven?
SPEAKER_03 (02:24):
I would say most people, you know, when they walk
into a house, it's what colorsare, you know, the cabinets.
And they can't see past, youknow, the future.
Yeah.
They just see the right now,this fits me right now, instead
of, you know, five years fromnow, I want to move up.
So what's it look likefinancially to move up?
SPEAKER_00 (02:45):
It's a great point.
Cause I think there's uh, youknow, I had a client recently
even that they found a housethat they love in a great
location, and they just can't,they couldn't get over the the
thought of like we're paying$240a square foot.
And so I think, like you said,even beyond, obviously, this is
a lot of data that investorsthink about all the time, which
(03:05):
is a lot of our audience.
But um, at the same time, youknow, not only are you looking
for folks that are looking fortheir residential uh home, you
know, it's something that theywant to live in and they're
looking for things like that,but also it's an investment in
most people's biggest investmentin a in a big piece of most
people's net worth.
So that's super important.
SPEAKER_02 (03:24):
I think it's important to have, you know, the
the emotional side.
We take, you try to take it outas much as possible.
But there is, I've talked aboutthis with my investors, and it's
that we need to have a littlebit because on the exit strategy
for something like that, youhave to think about is someone
else going willing to make anemotional decision on this
asset?
Yeah.
And so I like to try to takeemotions out of it as much as
(03:46):
possible.
And as mind-numbing as thatcould be, um, you know, there's
positive and negatives to theemotion, the emotional client
and then the analytical client.
It's like one, there's bads andgoods to both.
Uh, the analytical client can belike, this can be the best
property in the best location.
That's a great price.
But they're like, yeah, youknow, it doesn't hit my 6.758%
(04:06):
cash on cash return.
It's only a 6.754.
And they're like, brother, comeon.
Like, this is a good deal.
They're gonna do it.
So there's there's pros and consto each 100%.
Definitely.
Yeah.
SPEAKER_01 (04:17):
For residential, what do you guys see?
This is for all you guys for asfar as emotion versus numbers.
What type of upgrades do you seethat are more emotional than
like an actual return on it?
I know like kitchen.
I we spent quite a bit on ourkitchen remodel just re last
year.
And I know you know there's somereturn there, but it's some of
(04:40):
that's emotional too.
SPEAKER_02 (04:42):
Are you asking like what what things should you
versus what do you what dopeople do that might not get as
much return?
I mean, like one that one I seea lot is like people put a pool
in and they think that a poolwill be worth one a dollar to a
dollar on your price or youryour valuation, but a lot of
time, I mean, it's rushing.
It's rushing roulette on whatwhat appraiser you're gonna get
(05:04):
for they having a bad day andthey don't care at all about the
pool, or is this guy like, Ihave a great childhood memory
with a pool?
I'm gonna give us 100% value.
So I mean, a pool is one ofthose up in the air face
kitchen.
SPEAKER_01 (05:14):
Desire is saying 50%.
So if you spend$50,000 on apool, it probably only increases
your value$25,000.
So it's really an emotionaldecision.
Is it being able to swim in yourbackyard giving you more joy
than a return?
What price you put on joy atthat point?
SPEAKER_03 (05:31):
What what else do you see in as far as I would
say, you know, countertopsmatter to people, and that you
that's your best return, Ithink, on all of the upgrades
that you can make.
Um also painting the house.
You know, you see a dark houseand it just turns off all
buyers.
SPEAKER_04 (05:45):
Yeah.
SPEAKER_03 (05:45):
Um and then, you know, if you paint it, the
current trend is you know thewhite or the off-white colors.
SPEAKER_04 (05:51):
Yes.
SPEAKER_03 (05:52):
It's like a you know, your days on market is
like half the amount.
SPEAKER_01 (05:56):
Yeah.
I've I've heard is the bestinvestment, you know, as far as
you know, residential goes.
SPEAKER_00 (06:02):
So yeah.
Would you say that the samethough for renters as well?
Like your highest return ongetting premium rents, what is
it, you know, good paint?
Is it like a nice kitchen, maybewith nice countertops, stuff
like that?
Is there any, you know, on theon the multifamily side?
SPEAKER_01 (06:19):
Commercial side of that.
Yeah, commercial side.
I mean, paint is a great one.
Like as far as cot cost toincrease, you know, it's very
low cost compared to theappearance of it.
You know, people say the thisthe quote that made it not as
appealing is putting lipstick ona pig, you know.
It can make like a pig lookgood, you know.
(06:41):
But obviously, as a if you'renot slumlording it, you want to
do beyond that in and put newroofs on or you know, it fix up
the interiors.
I think count like we you can inmultifamily sometimes it makes
sense to resurface thecountertops and put new paint on
there versus like go in and putnew granite countertops.
It depends on the asset type.
SPEAKER_02 (07:02):
Yeah, asset class if you're in a B or a C or an A.
Yeah, 100%.
Let's uh let's start by divingin a little bit into the
numbers.
I think a lot of people listento this and they love the
numbers and get it.
I love being able on my side ofthings, and Brandon, you guys
might as well like I get a lotof the questions a lot the same,
and I'm able to like, hey, gowatch this.
And so like I think this will bea great podcast for like
(07:24):
someone's asking a lot ofquestions about the market,
being able to like, hey, gocheck this out.
This is what's happening rightnow.
Yeah.
Um, and so let's just dive intouh discussing some current
market trends we're seeing.
Um this can really be a bunch ofdifferent things, but uh maybe
we can dive into like uh yourstats on medium price, days on
market inventory, top cities, uhkind of what we're looking at
(07:45):
there, and and show us what youhave.
SPEAKER_03 (07:47):
So as far as counties go, I'll kind of like
start, you know, with the pointof the micro.
In Benton County, the highest uhmedium price per square foot or
per medium price, excuse me,yeah, was 411,000 in June of
this year.
unknown (08:07):
Okay.
SPEAKER_03 (08:07):
And then it's kind of slowly gone down to about
400, which isn't a a huge drop.
Yeah, that's um in as you know,June is one of our busier
months.
So sometimes you end up with alittle bit of multiple offer
situation and push the price up.
Um and then in WashingtonCounty, the peak price was 369.
Okay.
Um also in June, which is aneight percent year over year
(08:30):
increase.
SPEAKER_04 (08:30):
Okay.
SPEAKER_03 (08:31):
Um which is which is great, showing that we're still,
you know, increasing in values.
SPEAKER_02 (08:36):
Yeah.
SPEAKER_03 (08:36):
And then it on the average for the year it's been
about 350.
SPEAKER_02 (08:40):
Okay.
And are these current values forlike June to now?
Is it like is now like end ofSeptember-ish kind of yeah, end
of September.
Okay, end of September perfect.
Yeah, we do kind of see a dieoff this time of year.
SPEAKER_03 (08:53):
Yeah.
SPEAKER_00 (08:53):
Yeah.
What what are some of the Imean, you I I know we've got
median price here, which isnormally what kind of what
you'll see front page or maybeprice per square foot for Nish
for NWA look.
What are what are some of thosetops top stats that kind of that
you think helps summarize what'sgoing on in Northwest Arkansas?
SPEAKER_03 (09:11):
So I mean, I definitely looking at price per
square foot.
If you watch, it's continuallygrowing, whereas median price
kind of flexes back and forth,and that probably depends on the
square footage of the housethat's selling that month.
SPEAKER_04 (09:25):
Yeah.
SPEAKER_03 (09:27):
And so watching the price per square foot, I think
matters a lot.
SPEAKER_04 (09:30):
Yeah.
SPEAKER_03 (09:31):
Um, and then so in Benton County, we had a 12%
increase year over year, andWashington County we had six
percent, which is um$225 asquare foot on average for
Washington County and$252 inBenton County, which seems
extremely high.
SPEAKER_02 (09:50):
Now, do we think that's do we think that's
inflated by downtown Bentonvilleas a whole?
SPEAKER_03 (09:55):
Do you think that number is I would say that
that's a part of it.
Um there's a lot more newconstruction too in Benton
County.
And so you see Sure.
SPEAKER_01 (10:03):
Well, Bell Vista stuff.
SPEAKER_03 (10:05):
You're seeing the higher end finishes as well.
SPEAKER_01 (10:07):
I think I saw you guys put up some data.
I don't know if you have it withyou on price per square foot on
new builds versus existingbuilds.
SPEAKER_03 (10:14):
I don't know if you I didn't pull that to bring it
with.
Um but a couple months ago, itwas actually a better deal to
get new construction than it wasto buy a resale house.
SPEAKER_02 (10:26):
That I was just literally just talking with a
client about that.
It was like crazy.
I mean, and some of the crazystuff the R Horton's putting out
with like the incentives.
We'll give you a 3.875% rate ona seven-year R and with a
$330,000 house and like down thestreet is a$320,000 house that
you can get a 7% rate at.
It's like okay, new constructionall day.
(10:47):
So it kind of hurts.
I mean, uh, the R Horton'sessentially making their own
submarket and this market.
SPEAKER_03 (10:52):
I think they're probably influencing the lower
end market more so than the midor upper tier markets.
SPEAKER_00 (10:59):
100%.
So a lot of people talk about uhbuyers markets, sellers'
markets.
Uh how do you determine what forthose that don't know?
That's a great question.
What a buyer's market is.
SPEAKER_03 (11:10):
So in a buyer's market, it's in inventory, it
would be zero to three months.
In a balanced market, which iswhere we currently are, it's
four to six months.
And then six months plus isgonna be a sell uh buyer's
market, sorry.
SPEAKER_02 (11:24):
Yeah.
So so so the consensus is we'rein a basically an even, evenly
distributed market.
What do you mean by inventory?
SPEAKER_01 (11:32):
Zero to three months and four to six.
SPEAKER_03 (11:34):
So as far as the number of sales that close
versus the number of activelistings, you can figure out how
many months of inventory thereare.
SPEAKER_00 (11:43):
Yeah.
If not else were brought tomarket, is that how that's
figured?
Can't remember how we talkedabout that before, but you're
saying if there's four to sixmonths of inventory, if nothing
else was built right now orsomething like that.
Is that is that how they tackleit?
SPEAKER_03 (11:56):
Essentially that there's enough inventory for
that many buyers.
That's right.
So like four months worth ofinventory for the next one.
SPEAKER_02 (12:02):
Would would you get would the real feel in the
market feel like that to youguys as well?
Um, from what both I mean, yougot both realtors.
Are you are you feeling that aswell, kind of evenly
distributed?
SPEAKER_03 (12:13):
I do.
Um and so I see, you know,well-priced homes still selling
fast and sometimes multipleoffers, and then houses, you
know, maybe they're not in theprime area that are taking a
little longer to sell.
SPEAKER_02 (12:28):
Yeah.
So do you feel that as well?
SPEAKER_00 (12:31):
Yeah, I would agree.
I mean, I think uh inventory isprobably uh for investors,
especially, probably the mostimportant number to be uh
acquaintan acquainted with.
I think, you know, a stat thatgoes around a lot nowadays, I
think, is that we're up 30% inactive inventory where we were
to last year, and you couldprobably speak more to that.
Um but yeah, I think I thinkthat's a fair assessment for
(12:54):
sure.
Probably as we get into wintertime, you may agree with uh this
as well.
But uh though there's gonna beless buyers and we'll probably
move even to a buyer's marketuntil we get to next spring, I
assume.
SPEAKER_03 (13:05):
I think we'll we'll tip the scale.
We'll probably definitely havesix months of inventory, so
it'll be you know just dependingon the theory.
Yeah.
SPEAKER_02 (13:12):
Yeah.
SPEAKER_03 (13:13):
Yep.
SPEAKER_02 (13:13):
I definitely, I definitely feel that's like
exactly what you're talkingabout.
The right home right now, it'slike boom, gone.
Because everyone's like justkind of chilling, twiddling
their fingers until it comes on.
Yeah because there's a lot ofand then the I mean I'm having a
lot of conversations withsellers right now on like, hey,
you know, I'm setting thebeforehand, we're gonna be 90 to
150 days, like just right up.
(13:36):
And if we sell before that, I'ma hero.
But if we it's in that timeframe, I'm still a hero.
So it's like setting theexpectations at the front end.
And because all these people'smental is coming off of 2021,
like, oh, back when I boughtthis.
I'm like, well, it's not, it'snot that time.
I mean, I just had aconversation yesterday with
somebody who um was only willingto sign 90 day listing agreement
(13:58):
with me.
And I was like, I mean, it's notworth it.
SPEAKER_03 (14:01):
I mean you could take the risk.
SPEAKER_02 (14:03):
I mean, I'll take it, but I was like, I I'm I
mean, it's it's at a minimum,maybe 90 days.
So yeah.
Um let's talk a little bit, justa little bit on the leverage
that that brings uh for buyersversus sellers.
So right now it's it's prettyeven.
So you're saying that solistener listening in, Desiree's
saying basically that we're kindof in an e evenly distributed
(14:25):
market.
It's not really buyers, notreally sellers.
We're seeing about an e uh and Iwould say would would you
categorize that as healthy?
SPEAKER_01 (14:32):
Yes, I would.
SPEAKER_02 (14:33):
So a healthy market.
Yeah.
Um, and so we're seeing for theright deal, we can get some
closing costs covered.
And so buyer listening uh forthe right deal out there, or we
can find some of that, some ofthose closing costs, some of
those incentives, sellers' painpoints are a little higher.
Would would you agree with that?
SPEAKER_03 (14:49):
I would.
I would probably also add inthat, you know, during
negotiations of while you'reunder contract of the inspection
period, you're seeing moresellers having to do the work or
do the credit.
SPEAKER_02 (15:00):
Yeah, that's a great point.
That's a really good Brandon,you've seen that too.
SPEAKER_00 (15:04):
Yeah, that's on.
I mean, uh yeah, there's notmany that come out without
having to do something is in theI mean buyers' expectations even
on the front end with what theywant in closing costs and stuff
like that, it has like I feellike it feels like I'm having to
close deals two or three timesnow.
SPEAKER_02 (15:19):
Yeah, it's like or like getting under contract, and
it used to be like, all right,like I can kind of lock that
away, and now it's like thesecond closing of the deals
inspection period.
Like I gotta reclose it again.
SPEAKER_00 (15:29):
Yeah, and then there and there's been a lot too
lately.
I don't know how it's been fory'all, but um, you know, buyers
asking for roofs to be replacedand sellers just doing them,
which has not been a thing for along time.
So yeah, it's crazy.
SPEAKER_03 (15:41):
I think we're in a great healthy market.
SPEAKER_02 (15:43):
Yeah.
Yeah.
It wasn't necessarily veryhealthy for sellers to get their
way in cake and icing andeverything too in 2021.
Um now an interesting thing tomaybe slight, I don't know if
this is this this episode ornext, but like we do see rates
trickling down, or at least hasbeen promised the rest of the
year and into the springtime ofnext year, with uh what is the
(16:06):
the promise of Jerome Powell uhnot being the head of the Fed
and um non-political at all, butTrump saying that he wants his
guy, whoever that is, to be inthat spot and he wants rates at
one percent, which unrealisticunrealistic, but sometimes he
shoots for one and he might getthree and a half, and he's i
he's happy.
So like that could be a veryinteresting conversation,
(16:29):
especially especially listenerlistening in is like, well, what
does that sort of market entail?
And how do we predict what doyou see with the end of this
year and the next year?
Do you kind of see the samething or or differ differing?
SPEAKER_03 (16:41):
I mean, I think that we'll go down maybe about a half
a percent in.
Um I don't think we're gonna seea huge decrease.
That affects so much more thanjust real estate.
Whenever you decrease theinterest rate, you know, people
are gonna start pulling theirmoney out of the banks and
that's not good either.
SPEAKER_02 (17:00):
I'm I'm under the I'm in the category of like, I
don't think that would be good.
Like that would be that'd benice.
Brandon and I would both behaving panic attacks.
SPEAKER_00 (17:08):
For sure.
For sure.
I I I do want to go back to uhmonths of inventory here, months
of supply, excuse me, and talkabout a little bit more about
inventory if you have somedetails on that.
I'd love to know uh for thosethat are kind of thinking about
different cities and ordifferent counties, uh where
obviously we're at a you knowfour to six months of supply.
(17:29):
Yeah.
Where do you see the mostsupply, where are you seeing
like the least in NorthwestArkansas?
SPEAKER_03 (17:33):
So Benton County has it actually increased 39% um
year over year.
Wow.
And then Washington County, Ifeel like has been a little bit
steadier and it's at 22%.
Okay.
Um and that's from so as far astransaction volume, which is
slightly different than whatyou're looking for, um
Bentonville actually had had anincrease of 4.7%.
(17:57):
Um Springdale had 3.27%increase.
SPEAKER_04 (18:01):
Yeah.
SPEAKER_03 (18:02):
And then Farmington had a 25% increase in closed
transactions, and Lowell was at10%.
Wow.
The remaining cities all had adecrease in it in closed
transactions.
SPEAKER_02 (18:14):
Oh that's really interesting.
That Farmington ones really I'dlike to keep a touch base on
what about Prairie Grove?
I guess it was decrease.
SPEAKER_03 (18:23):
So Prairie Grove.
It didn't make the top 15.
SPEAKER_02 (18:28):
Okay.
Well never mind.
SPEAKER_00 (18:33):
Probably a lot.
Sorry about you, it sounds likeit sounds like a lot of those
new construction areas uh oreven more affordable areas in
general are uh getting thebenefit right now.
Sounds like definitely.
SPEAKER_03 (18:44):
I think that, you know, even silome with a study,
um, I think they just kind ofremain balanced.
They didn't have a decrease oran increase.
SPEAKER_02 (18:53):
Yeah.
I I guess uh an interestingtopic to have for I'd love I'd
love your opinion opinion,Desiree, on a seller comes to
you right now and you're like,hey, should I sell now or in the
spring?
Uh what what are you tellingthem at this point?
SPEAKER_03 (19:08):
Typically I ask them I break it down to what their
goals are.
SPEAKER_02 (19:12):
Yeah.
SPEAKER_03 (19:12):
You know, are they needing to buy right away?
Because you're buying in thesame market regardless.
SPEAKER_04 (19:17):
Yeah.
SPEAKER_03 (19:17):
You know, if you buy in the spring, then you're in
buying at the height too.
So it's kind of a win-lose, wholose win.
I don't know.
SPEAKER_02 (19:25):
Yeah.
Kind of having the conversationa lot right now with like people
debating with what the interestrate's doing and the market,
like, oh, if it's trendingdownwards, does that mean we're
gonna have a hotter end of theyear?
Uh what's gonna happen in thespring?
And uh I would say it's verysituational based and
life-based, and where's yourstress tolerance uh on a lot of
it?
But you know, I don't thinkwe're necessarily gonna see it
(19:48):
like hammer off and fall off,and especially with the the
promise of trending rates downtowards the end of the year.
SPEAKER_03 (19:57):
I think it's normal for us to see longer days on
market right now.
SPEAKER_02 (20:00):
Yeah.
SPEAKER_03 (20:00):
Um, and and like you said early on, expectations,
setting the expectations withthe seller up front is key.
SPEAKER_02 (20:07):
Yeah, a hundred percent.
Um let's talk a little bit aboutum was that was that all we had
on um there was a how manycities increased again?
One, two, three, four.
Only four, and the rest of themdecreased in transaction.
That I think that's that's verytelling.
I think the interesting part isFarmington, we're seeing a lot
(20:29):
more uh land is easier topurchase for these developers
out there.
Um and so it's one easier and itis more affordable.
And so we're seeing a lot ofbuilding permits being uh given
out there.
Um I mean, there's also the Imean, an interesting thing is
Centerton, the Cinnerton waterthing.
(20:49):
I mean, like what's Centertongonna look like over the next uh
year or two years when they'rethe Centerton actually was one
of the top to decrease.
SPEAKER_03 (20:57):
It decreased by almost 35 percent really in
transaction volume, along withCave Springs at 38%.
SPEAKER_01 (21:04):
Interesting.
And Cinnerton is just now theyjust announced their like new uh
downtown like plans that you'rehaving a downtown with a Walmart
Super Center and wow, uh like adowntown square.
SPEAKER_02 (21:16):
That's one of my my main points all the time.
Like, I don't really know what'sout in Centerton besides just
driving to Bentonville.
So I can I think that could bevery helpful.
SPEAKER_03 (21:25):
Like when I look at the rental side of things, I see
there's a lot more inventory inCenton than Bentonville or the
surrounding areas.
And so that's probably a concernfor people.
SPEAKER_02 (21:36):
Yeah, yeah.
But Brandon, have you heard anymore on the Centerton um water
supply thing, uh sewer water?
SPEAKER_00 (21:45):
No, no, not in a while.
I know uh it seemed like it wasmore of a four to five year
solution than a two to threeyear or less, um, or maybe more.
I mean, we'll we'll kind of seehow it plays out.
And it sounds like it's spillingover into other cities as well
that are having some issues andthings like that.
But yeah, I think obviously it'sgonna affect there's folks that
(22:08):
have bought land that to developthat, um, you know, that are now
learning that they can't developthat until things change.
So, you know, it'll beinteresting.
You're gonna have uh I think theinteresting thing about
Centerton is for so long it'sbeen um, you know, still
affordable, but there's beenpremiums that folks can get in
rent out there that kind ofmimic Bentonville a little bit,
(22:30):
seem like so higher rents, butstill lower cost of entry.
SPEAKER_04 (22:33):
Yeah.
SPEAKER_00 (22:34):
Um, and I wonder if you know that's happening
elsewhere at all.
But um, but yeah, I think it'sit'll be interesting to see kind
of how that plays out.
But it seems like it'll continueto help other cities around as
far as price per foot and thingslike that.
SPEAKER_03 (22:46):
So I think it'll put a strain on Centerton in the
long term because inventory isonly gonna get shrink.
SPEAKER_02 (22:53):
Yeah, yeah.
I I at center it would be itwill be nice.
SPEAKER_01 (22:57):
Did they give a timeline on the downtown?
Did you solve I didn't dig intoit, but I just saw like a
Walmart center, like uh supercenter and then a downtown
corridor they're trying to make.
That will be uh very muchneeded.
SPEAKER_03 (23:10):
Yeah, I think it's just south of uh McDonald's.
SPEAKER_01 (23:13):
Yeah, yeah.
SPEAKER_00 (23:14):
Yes.
So uh for you, what what do youthink what do you feel like is
the most interesting piece ofdata that that uh you know tells
you feel like tells the biggeststory uh each time you're kind
of putting those together?
SPEAKER_03 (23:26):
I don't ever feel like it's just one piece that
you can just name one piece todefine a market.
Um I do think months on monthsof inventory is super important.
Um and it tells a lot about youknow what to expect of the buyer
or seller.
Do you have negotiation power?
(23:47):
Do you not?
Um so that would be one of thekeys.
Days on market is another bigthing.
You know, the longer, the moreit increases, obviously that
also correlates back to monthsof inventory.
Um and so then you the longeryou're on the market, the more
negotiation power a buyer has.
SPEAKER_00 (24:04):
Yeah.
That's interesting.
I think I think for investors,if you look at some of the big
cities out there, Austin,Dallas, etc., um, you know, one
of the biggest indicators ismonths of supply and how how
much they've developed in such ashort time.
And so now you're seeing thesethese price cuts of 20, 30
percent or whatever.
Um, so I think for investors,you know, it's something to pay
(24:26):
attention to.
How is development going in inthe area that you're looking to
purchase in?
Yeah.
Um, you know, it's it's simplysupply and demand.
And you know, if you're buyingin, you know, at peak prices
when they've developed, youknow, or added 50% of inventory
or whatever in the last year,you know, it might be something
to pay attention to.
Yes, 100%.
SPEAKER_01 (24:47):
Price per square foot and increase is there too.
I don't think I haven't seen anymarket have a decrease in in
that year over year.
Year over year is just aconstantly going out.
Yeah, I don't know if you guyssee that leveling out or or
ever.
SPEAKER_03 (25:01):
I would think that something to watch is you know,
areas that that are growing.
If you're buying an older homeand you're surrounded by new
construction, you may not seethat increase as much.
SPEAKER_00 (25:13):
Yeah.
Yeah.
Yeah, that's that's another goodpoint right there.
I think we, you know, there's alot of I've got a lot of clients
that have bought in Tony Town,let's say a lot of new
construction out there.
They've lived there for threeyears and they've maybe seen 5%
increase in equity, maybe 10 atmost.
I mean, when someone can go outthere and buy basically the same
(25:34):
product, brand new, yeah.
Um, you know, just something topay attention to.
Is are the properties or theplaces that you're looking at?
Um, is there a lot ofdevelopment happening around
that?
That's good, but you may not seeshort-term increases that maybe
longer term and something payattention to.
SPEAKER_02 (25:50):
Well, like my my new construction people, if they're
like, hey, we really want to gonew construction, I'm like, hey,
let's get in phase one becauseyou're gonna have phase two,
three, four, five.
It's gonna the same house at 330is now gonna be worth, you know,
360 or 370 within two years.
And so it's like guaranteedappreciation if you're going.
But like I do see the pointstoo.
(26:12):
If you have an older, not older,pre-owned home and you've got
all this new building aroundyou, it is something to think
about um buying in a market.
That's why a lot of my deals,like September we had 12,
October we had six, and Novemberwe're gonna have 11 uh new
construction investors on newconstruction homes uh with my
(26:34):
client base.
And it's because one, the deal'sgreat, two, I mean, you can't
you can't you just can't beat itanywhere.
And uh as much as I thought thatLenar would be a competitor to
DR Horton in this market, it'sjust kind of been taken off just
route kind of Roush Coleman 2.0versus just still big dog DR.
(26:55):
Um, and there's still justthere's just nothing that beats.
I mean, yes, it's not premier,premier quality, um, but it's
plenty good enough.
And the it's the I mean, they'redoing like some$35,000 red tag
event right now.
It's like take$35,000 off or getyourself a 3.8% interest rate,
(27:16):
or um, it's a lot of I see a lotof new construction controlling
the pace and flow.
And it is interesting.
We're seeing that I'm having theconversations with days on
market.
Yes, it's gone up, but the priceper square foot also is still
increasing.
To answer your question long, II feel like we're gonna continue
to see the steady increase inappreciation.
(27:37):
Um, I don't necessarily see aworld where, you know, do you
know the stat uh you view youwould be great to ask on how how
like when is our populationhere?
Everyone talks about thepopulation here doubling.
Like, is it like a 10?
Is it a 15 year?
Is it a 20-year thing?
SPEAKER_03 (27:52):
Like supposed to be 2040, I believe we're supposed
to be a million.
SPEAKER_02 (27:56):
Okay.
So that's like 15 years fromnow.
Yeah, 15 years from now.
So it's like, you know, I tellsome people like you, we bark by
cardboard cardboard box rightnow and we might be good.
Like if we hold on to it longenough.
Yeah.
But we can be smarter than that.
Um Brandon, are there any pointsto wrap up section one here that
you can?
SPEAKER_00 (28:14):
I think I think just last to wrap it up, I I'd be
curious on for investors or oreven home buyers, what what
cities you might be most excitedabout?
Uh gosh, for the future.
SPEAKER_03 (28:25):
So this may be kind of opinionated.
Sure.
SPEAKER_02 (28:31):
But please bring it.
SPEAKER_03 (28:34):
I do think that Pea Ridge, Bella Vista, I also think
Tawnytown and Elm Springs.
Reasons being um Tawnytown andElm Springs, you have 612,
that's being input.
And so the convenience forpeople who are, say, families
that work in both Washington andBenton County, they can commute
(28:56):
easily from those areas.
And then as far as Bella Vistaand Pea Ridge, Bentonville's
traffic, you know, is gettingcrazy and the prices are just
continuing to skyrocket.
And so going to the outskirts iswhere most people end up going.
SPEAKER_02 (29:13):
Yeah.
SPEAKER_03 (29:13):
If they want to live on the north end, affordable.
SPEAKER_02 (29:16):
A lot of lot of uh good things coming from Bella
Vista and P Ridge right now.
I I'm very much on board withthose, with those.
Do you feel the same way?
Yeah, absolutely.
Yep.
I mean, for do you see anythingfrom like a commercial
standpoint on like the with thislike cities to keep an eye on?
Like, do we see, do you like inyour in your uh view, do you
(29:37):
keep an eye on P Ridge for likecommercial developments in the
future?
SPEAKER_01 (29:39):
Yeah, I mean, uh I we need to have Nathan C on here
too.
Yeah, he's been a big driver ofuh P Ridge.
I like P Ridge.
It's not there yet.
You know, it you're kind ofmaking a bet on the future, but
everything points to it growing.
People are betting right now.
There's a new development planout there.
I'm bullish on Fort Smith.
I I've done a lot in Fort Smith.
It's not technically.
(30:00):
NWA, but I buy a lot there andthere's not as much competition
there.
And it's it's a steady eddy.
It's not it's never gonna beNWA, but it has a lot of growth
and um still a lot of good,yeah, a lot of good good buying
opportunities there.
Yeah.
Um I like all the Springdale.
(30:21):
I'm I'm very bull bullish onSpringdale more than most
people.
I think that it the vacancy justcame out, it's like 1.5% like
decreased or something likethat.
So there's a huge need uh forhousing there.
So if you can get land at a goodbasis, you know, that's that's
(30:41):
prime for uh development or evenvalue add investing that is good
in Spring Deal too.
Yeah, yeah.
SPEAKER_02 (30:47):
Um that's right.
I would ask as we wrap up here.
If you're an investor, uh wehave a lot of people from out of
state listening in.
What are some what are your toptwo or three things you're that
you're looking at in this marketto either to confirm your gut?
Um if you're if you're lookingat this market and looking at
cities to buy, one, what citiesare you looking at to buy?
(31:07):
Is it one of those?
Or it and and then what datapoints are you looking at to
figure out where to buy?
SPEAKER_03 (31:14):
So as far as data points, it's you know, if you're
doing a long-term rental, um,you're looking at what the price
per square foot is, yeah, whatthe growth of that particular
area is, and also I think a keypoint would be infrastructure,
which isn't really a necessarilya data point.
SPEAKER_04 (31:31):
Right, right.
SPEAKER_03 (31:32):
But if you have lack of infrastructure, you may have
lack of inventory later on.
SPEAKER_04 (31:36):
Yeah.
SPEAKER_03 (31:37):
Um so I do think that those four areas or that I
named gonna continue to grow.
SPEAKER_02 (31:43):
Those those are great.
SPEAKER_03 (31:44):
Um and I do think actually Fort Smith is a great
point because coming fromFlorida, I've lived in some
cities and people end up drivingan hour and a half at some
point, you know, because it doesbecome unaffordable to live in
that major metropolitan area.
SPEAKER_02 (31:57):
Yeah.
West Fork might blow up soon.
Greenland.
Greenland, here we go, baby.
SPEAKER_03 (32:04):
I think it'll be a while before we see that.
SPEAKER_01 (32:07):
Highly undeveloped.
True.
Sure's good stuff, guys.
I mean, don't buy uh don't builda pool unless you just want to
love swimming.
Uh that paint paint is a greatupgrade.
Uh shout out lax and painting.
Yeah.
SPEAKER_00 (32:21):
Um what else do you Yeah, days uh days on more or
days on market and months ofsupply, I think, are are key
metrics uh to me, especially forinvestors.
So I'd keep an eye out on those.
Yeah.
Any anything else?
SPEAKER_02 (32:33):
Man, I would say um if you're if you're looking in
this market, uh book look forsomebody to guide you like
Desiree, like Brandon or myself.
If you had your real estatelicense, I'd say you too.
Um look for somebody like us tolead and guide you and have your
hand.
You don't have to have all theanswers, but just if you're
listening in, be aware enough toknow where to find one of us.
(32:56):
There's only a handful of usthat can really lead in and
guide.
There's 4,000 agents, and Ialways say there's not very many
that can uh accurately help youbuy an investment property.
Um now there's there's a lot ofgreat agents, but uh to buy
investment properties, find findsomeone like us and we can lead
and guide you to the right spot.
SPEAKER_03 (33:15):
I'd also like to add in that collaboration happens at
the top.
SPEAKER_02 (33:18):
Yes.
SPEAKER_03 (33:19):
And so sometimes we're able to work deals off off
markets.
SPEAKER_02 (33:22):
Yes, yep.
100%.
Absolutely.
Some deals happen there.
Desiree, thank you for episodeone here uh of this uh this
little series we're doing.
Uh, if you're listening, go tothe next episode.
We're gonna uh be interviewingDesiree again for part two.
SPEAKER_03 (33:37):
Thank you.
SPEAKER_02 (33:38):
Again, thank you guys for tuning in.
I'm gonna go ahead and uh listsome sponsors off here.
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(34:22):
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If you enjoyed the show, makesure to give us a follow on your
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SPEAKER_01 (36:05):
Don't forget to connect with us on Instagram,
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SPEAKER_00 (36:11):
Have a question you want us to cover, send it our
way.
And if you're interested insponsoring the show, visit NWA
Investing.com to get in touch.
Thanks for listening, and we'llsee you next time.
Welcome to Northwest Arkansas Investing Podcast, your
go-to source for real estateinvesting in Northwest Arkansas.
SPEAKER_01 (00:12):
With your seasoned investor just starting out, we
bring you expert insights,market trends, and practical
strategies to help you buildwealth through real estate.
SPEAKER_00 (00:20):
From buying and selling to property management
and long-term investmentplanning, we cover it all so you
can make smart, informeddecisions in this fast growing
market.
Let's dive in.
Welcome back to NorthwestArkansas Investing Podcast.
I'm uh here with my co-hostsZach Stanley and Brian Wagers.
And uh we've got an awesomeguest today that we're excited
about.
Um, we're here with Miss DesireStock, and uh she's the the
(00:44):
co-creator with uh Mr.
Stuart Collier um of NW NWALook, and uh which really you
know helps us unpack the de thelatest numbers in data in
Northwest, Arkansas real estate.
And so we're excited to just getto know her and get to know how
this started um for her and anduh and then really dig into the
data and and help investorsunderstand um kind of what's
(01:06):
going on and and be a little bitmore up to date.
Um and she'll also talk aboutsome platforms that she has,
social media, newsletters, stufflike that, that you can kind of
continue to stay up to date withand uh we're excited about that.
So thanks again for being withus.
SPEAKER_03 (01:19):
Thank you for having me.
I appreciate it.
SPEAKER_02 (01:21):
Desire, it's huge that do you provide something
like you do because it for thepeople listening, it's important
to know the data because if youdon't know the data, you're just
free, free willy doing stuff.
And so having platforms likeyourself, it's really
appreciated.
So thanks for what you're doing.
SPEAKER_03 (01:35):
You're welcome.
SPEAKER_02 (01:36):
Can you give us a little dive into a little bit
about you, uh, NWA look?
Just give us a 30,000-footoverview of that.
SPEAKER_03 (01:43):
Okay.
So I grew up in the real estatebusiness.
My mom's a real estate broker,and she's always kind of done
the numbers.
And so for me, it was justnatural to bring it into my
business.
Um and so informing the publicis huge.
I feel like most people on theresidential side make things
emotional rather than along-term goal, and it should be
(02:06):
both.
Um, and so part of that is whywe created NWA Look.
Um, and also there's noup-to-date data that's
published.
And so that was our D idea ofdoing that.
SPEAKER_02 (02:18):
Yeah.
What what why do you thinkpeople make it emotional as
opposed to data driven?
SPEAKER_03 (02:24):
I would say most people, you know, when they walk
into a house, it's what colorsare, you know, the cabinets.
And they can't see past, youknow, the future.
Yeah.
They just see the right now,this fits me right now, instead
of, you know, five years fromnow, I want to move up.
So what's it look likefinancially to move up?
SPEAKER_00 (02:45):
It's a great point.
Cause I think there's uh, youknow, I had a client recently
even that they found a housethat they love in a great
location, and they just can't,they couldn't get over the the
thought of like we're paying$240a square foot.
And so I think, like you said,even beyond, obviously, this is
a lot of data that investorsthink about all the time, which
(03:05):
is a lot of our audience.
But um, at the same time, youknow, not only are you looking
for folks that are looking fortheir residential uh home, you
know, it's something that theywant to live in and they're
looking for things like that,but also it's an investment in
most people's biggest investmentin a in a big piece of most
people's net worth.
So that's super important.
SPEAKER_02 (03:24):
I think it's important to have, you know, the
the emotional side.
We take, you try to take it outas much as possible.
But there is, I've talked aboutthis with my investors, and it's
that we need to have a littlebit because on the exit strategy
for something like that, youhave to think about is someone
else going willing to make anemotional decision on this
asset?
Yeah.
And so I like to try to takeemotions out of it as much as
(03:46):
possible.
And as mind-numbing as thatcould be, um, you know, there's
positive and negatives to theemotion, the emotional client
and then the analytical client.
It's like one, there's bads andgoods to both.
Uh, the analytical client can belike, this can be the best
property in the best location.
That's a great price.
But they're like, yeah, youknow, it doesn't hit my 6.758%
(04:06):
cash on cash return.
It's only a 6.754.
And they're like, brother, comeon.
Like, this is a good deal.
They're gonna do it.
So there's there's pros and consto each 100%.
Definitely.
Yeah.
SPEAKER_01 (04:17):
For residential, what do you guys see?
This is for all you guys for asfar as emotion versus numbers.
What type of upgrades do you seethat are more emotional than
like an actual return on it?
I know like kitchen.
I we spent quite a bit on ourkitchen remodel just re last
year.
And I know you know there's somereturn there, but it's some of
(04:40):
that's emotional too.
SPEAKER_02 (04:42):
Are you asking like what what things should you
versus what do you what dopeople do that might not get as
much return?
I mean, like one that one I seea lot is like people put a pool
in and they think that a poolwill be worth one a dollar to a
dollar on your price or youryour valuation, but a lot of
time, I mean, it's rushing.
It's rushing roulette on whatwhat appraiser you're gonna get
(05:04):
for they having a bad day andthey don't care at all about the
pool, or is this guy like, Ihave a great childhood memory
with a pool?
I'm gonna give us 100% value.
So I mean, a pool is one ofthose up in the air face
kitchen.
SPEAKER_01 (05:14):
Desire is saying 50%.
So if you spend$50,000 on apool, it probably only increases
your value$25,000.
So it's really an emotionaldecision.
Is it being able to swim in yourbackyard giving you more joy
than a return?
What price you put on joy atthat point?
SPEAKER_03 (05:31):
What what else do you see in as far as I would
say, you know, countertopsmatter to people, and that you
that's your best return, Ithink, on all of the upgrades
that you can make.
Um also painting the house.
You know, you see a dark houseand it just turns off all
buyers.
SPEAKER_04 (05:45):
Yeah.
SPEAKER_03 (05:45):
Um and then, you know, if you paint it, the
current trend is you know thewhite or the off-white colors.
SPEAKER_04 (05:51):
Yes.
SPEAKER_03 (05:52):
It's like a you know, your days on market is
like half the amount.
SPEAKER_01 (05:56):
Yeah.
I've I've heard is the bestinvestment, you know, as far as
you know, residential goes.
SPEAKER_00 (06:02):
So yeah.
Would you say that the samethough for renters as well?
Like your highest return ongetting premium rents, what is
it, you know, good paint?
Is it like a nice kitchen, maybewith nice countertops, stuff
like that?
Is there any, you know, on theon the multifamily side?
SPEAKER_01 (06:19):
Commercial side of that.
Yeah, commercial side.
I mean, paint is a great one.
Like as far as cot cost toincrease, you know, it's very
low cost compared to theappearance of it.
You know, people say the thisthe quote that made it not as
appealing is putting lipstick ona pig, you know.
It can make like a pig lookgood, you know.
(06:41):
But obviously, as a if you'renot slumlording it, you want to
do beyond that in and put newroofs on or you know, it fix up
the interiors.
I think count like we you can inmultifamily sometimes it makes
sense to resurface thecountertops and put new paint on
there versus like go in and putnew granite countertops.
It depends on the asset type.
SPEAKER_02 (07:02):
Yeah, asset class if you're in a B or a C or an A.
Yeah, 100%.
Let's uh let's start by divingin a little bit into the
numbers.
I think a lot of people listento this and they love the
numbers and get it.
I love being able on my side ofthings, and Brandon, you guys
might as well like I get a lotof the questions a lot the same,
and I'm able to like, hey, gowatch this.
And so like I think this will bea great podcast for like
(07:24):
someone's asking a lot ofquestions about the market,
being able to like, hey, gocheck this out.
This is what's happening rightnow.
Yeah.
Um, and so let's just dive intouh discussing some current
market trends we're seeing.
Um this can really be a bunch ofdifferent things, but uh maybe
we can dive into like uh yourstats on medium price, days on
market inventory, top cities, uhkind of what we're looking at
(07:45):
there, and and show us what youhave.
SPEAKER_03 (07:47):
So as far as counties go, I'll kind of like
start, you know, with the pointof the micro.
In Benton County, the highest uhmedium price per square foot or
per medium price, excuse me,yeah, was 411,000 in June of
this year.
unknown (08:07):
Okay.
SPEAKER_03 (08:07):
And then it's kind of slowly gone down to about
400, which isn't a a huge drop.
Yeah, that's um in as you know,June is one of our busier
months.
So sometimes you end up with alittle bit of multiple offer
situation and push the price up.
Um and then in WashingtonCounty, the peak price was 369.
Okay.
Um also in June, which is aneight percent year over year
(08:30):
increase.
SPEAKER_04 (08:30):
Okay.
SPEAKER_03 (08:31):
Um which is which is great, showing that we're still,
you know, increasing in values.
SPEAKER_02 (08:36):
Yeah.
SPEAKER_03 (08:36):
And then it on the average for the year it's been
about 350.
SPEAKER_02 (08:40):
Okay.
And are these current values forlike June to now?
Is it like is now like end ofSeptember-ish kind of yeah, end
of September.
Okay, end of September perfect.
Yeah, we do kind of see a dieoff this time of year.
SPEAKER_03 (08:53):
Yeah.
SPEAKER_00 (08:53):
Yeah.
What what are some of the Imean, you I I know we've got
median price here, which isnormally what kind of what
you'll see front page or maybeprice per square foot for Nish
for NWA look.
What are what are some of thosetops top stats that kind of that
you think helps summarize what'sgoing on in Northwest Arkansas?
SPEAKER_03 (09:11):
So I mean, I definitely looking at price per
square foot.
If you watch, it's continuallygrowing, whereas median price
kind of flexes back and forth,and that probably depends on the
square footage of the housethat's selling that month.
SPEAKER_04 (09:25):
Yeah.
SPEAKER_03 (09:27):
And so watching the price per square foot, I think
matters a lot.
SPEAKER_04 (09:30):
Yeah.
SPEAKER_03 (09:31):
Um, and then so in Benton County, we had a 12%
increase year over year, andWashington County we had six
percent, which is um$225 asquare foot on average for
Washington County and$252 inBenton County, which seems
extremely high.
SPEAKER_02 (09:50):
Now, do we think that's do we think that's
inflated by downtown Bentonvilleas a whole?
SPEAKER_03 (09:55):
Do you think that number is I would say that
that's a part of it.
Um there's a lot more newconstruction too in Benton
County.
And so you see Sure.
SPEAKER_01 (10:03):
Well, Bell Vista stuff.
SPEAKER_03 (10:05):
You're seeing the higher end finishes as well.
SPEAKER_01 (10:07):
I think I saw you guys put up some data.
I don't know if you have it withyou on price per square foot on
new builds versus existingbuilds.
SPEAKER_03 (10:14):
I don't know if you I didn't pull that to bring it
with.
Um but a couple months ago, itwas actually a better deal to
get new construction than it wasto buy a resale house.
SPEAKER_02 (10:26):
That I was just literally just talking with a
client about that.
It was like crazy.
I mean, and some of the crazystuff the R Horton's putting out
with like the incentives.
We'll give you a 3.875% rate ona seven-year R and with a
$330,000 house and like down thestreet is a$320,000 house that
you can get a 7% rate at.
It's like okay, new constructionall day.
(10:47):
So it kind of hurts.
I mean, uh, the R Horton'sessentially making their own
submarket and this market.
SPEAKER_03 (10:52):
I think they're probably influencing the lower
end market more so than the midor upper tier markets.
SPEAKER_00 (10:59):
100%.
So a lot of people talk about uhbuyers markets, sellers'
markets.
Uh how do you determine what forthose that don't know?
That's a great question.
What a buyer's market is.
SPEAKER_03 (11:10):
So in a buyer's market, it's in inventory, it
would be zero to three months.
In a balanced market, which iswhere we currently are, it's
four to six months.
And then six months plus isgonna be a sell uh buyer's
market, sorry.
SPEAKER_02 (11:24):
Yeah.
So so so the consensus is we'rein a basically an even, evenly
distributed market.
What do you mean by inventory?
SPEAKER_01 (11:32):
Zero to three months and four to six.
SPEAKER_03 (11:34):
So as far as the number of sales that close
versus the number of activelistings, you can figure out how
many months of inventory thereare.
SPEAKER_00 (11:43):
Yeah.
If not else were brought tomarket, is that how that's
figured?
Can't remember how we talkedabout that before, but you're
saying if there's four to sixmonths of inventory, if nothing
else was built right now orsomething like that.
Is that is that how they tackleit?
SPEAKER_03 (11:56):
Essentially that there's enough inventory for
that many buyers.
That's right.
So like four months worth ofinventory for the next one.
SPEAKER_02 (12:02):
Would would you get would the real feel in the
market feel like that to youguys as well?
Um, from what both I mean, yougot both realtors.
Are you are you feeling that aswell, kind of evenly
distributed?
SPEAKER_03 (12:13):
I do.
Um and so I see, you know,well-priced homes still selling
fast and sometimes multipleoffers, and then houses, you
know, maybe they're not in theprime area that are taking a
little longer to sell.
SPEAKER_02 (12:28):
Yeah.
So do you feel that as well?
SPEAKER_00 (12:31):
Yeah, I would agree.
I mean, I think uh inventory isprobably uh for investors,
especially, probably the mostimportant number to be uh
acquaintan acquainted with.
I think, you know, a stat thatgoes around a lot nowadays, I
think, is that we're up 30% inactive inventory where we were
to last year, and you couldprobably speak more to that.
Um but yeah, I think I thinkthat's a fair assessment for
(12:54):
sure.
Probably as we get into wintertime, you may agree with uh this
as well.
But uh though there's gonna beless buyers and we'll probably
move even to a buyer's marketuntil we get to next spring, I
assume.
SPEAKER_03 (13:05):
I think we'll we'll tip the scale.
We'll probably definitely havesix months of inventory, so
it'll be you know just dependingon the theory.
Yeah.
SPEAKER_02 (13:12):
Yeah.
SPEAKER_03 (13:13):
Yep.
SPEAKER_02 (13:13):
I definitely, I definitely feel that's like
exactly what you're talkingabout.
The right home right now, it'slike boom, gone.
Because everyone's like justkind of chilling, twiddling
their fingers until it comes on.
Yeah because there's a lot ofand then the I mean I'm having a
lot of conversations withsellers right now on like, hey,
you know, I'm setting thebeforehand, we're gonna be 90 to
150 days, like just right up.
(13:36):
And if we sell before that, I'ma hero.
But if we it's in that timeframe, I'm still a hero.
So it's like setting theexpectations at the front end.
And because all these people'smental is coming off of 2021,
like, oh, back when I boughtthis.
I'm like, well, it's not, it'snot that time.
I mean, I just had aconversation yesterday with
somebody who um was only willingto sign 90 day listing agreement
(13:58):
with me.
And I was like, I mean, it's notworth it.
SPEAKER_03 (14:01):
I mean you could take the risk.
SPEAKER_02 (14:03):
I mean, I'll take it, but I was like, I I'm I
mean, it's it's at a minimum,maybe 90 days.
So yeah.
Um let's talk a little bit, justa little bit on the leverage
that that brings uh for buyersversus sellers.
So right now it's it's prettyeven.
So you're saying that solistener listening in, Desiree's
saying basically that we're kindof in an e evenly distributed
(14:25):
market.
It's not really buyers, notreally sellers.
We're seeing about an e uh and Iwould say would would you
categorize that as healthy?
SPEAKER_01 (14:32):
Yes, I would.
SPEAKER_02 (14:33):
So a healthy market.
Yeah.
Um, and so we're seeing for theright deal, we can get some
closing costs covered.
And so buyer listening uh forthe right deal out there, or we
can find some of that, some ofthose closing costs, some of
those incentives, sellers' painpoints are a little higher.
Would would you agree with that?
SPEAKER_03 (14:49):
I would.
I would probably also add inthat, you know, during
negotiations of while you'reunder contract of the inspection
period, you're seeing moresellers having to do the work or
do the credit.
SPEAKER_02 (15:00):
Yeah, that's a great point.
That's a really good Brandon,you've seen that too.
SPEAKER_00 (15:04):
Yeah, that's on.
I mean, uh yeah, there's notmany that come out without
having to do something is in theI mean buyers' expectations even
on the front end with what theywant in closing costs and stuff
like that, it has like I feellike it feels like I'm having to
close deals two or three timesnow.
SPEAKER_02 (15:19):
Yeah, it's like or like getting under contract, and
it used to be like, all right,like I can kind of lock that
away, and now it's like thesecond closing of the deals
inspection period.
Like I gotta reclose it again.
SPEAKER_00 (15:29):
Yeah, and then there and there's been a lot too
lately.
I don't know how it's been fory'all, but um, you know, buyers
asking for roofs to be replacedand sellers just doing them,
which has not been a thing for along time.
So yeah, it's crazy.
SPEAKER_03 (15:41):
I think we're in a great healthy market.
SPEAKER_02 (15:43):
Yeah.
Yeah.
It wasn't necessarily veryhealthy for sellers to get their
way in cake and icing andeverything too in 2021.
Um now an interesting thing tomaybe slight, I don't know if
this is this this episode ornext, but like we do see rates
trickling down, or at least hasbeen promised the rest of the
year and into the springtime ofnext year, with uh what is the
(16:06):
the promise of Jerome Powell uhnot being the head of the Fed
and um non-political at all, butTrump saying that he wants his
guy, whoever that is, to be inthat spot and he wants rates at
one percent, which unrealisticunrealistic, but sometimes he
shoots for one and he might getthree and a half, and he's i
he's happy.
So like that could be a veryinteresting conversation,
(16:29):
especially especially listenerlistening in is like, well, what
does that sort of market entail?
And how do we predict what doyou see with the end of this
year and the next year?
Do you kind of see the samething or or differ differing?
SPEAKER_03 (16:41):
I mean, I think that we'll go down maybe about a half
a percent in.
Um I don't think we're gonna seea huge decrease.
That affects so much more thanjust real estate.
Whenever you decrease theinterest rate, you know, people
are gonna start pulling theirmoney out of the banks and
that's not good either.
SPEAKER_02 (17:00):
I'm I'm under the I'm in the category of like, I
don't think that would be good.
Like that would be that'd benice.
Brandon and I would both behaving panic attacks.
SPEAKER_00 (17:08):
For sure.
For sure.
I I I do want to go back to uhmonths of inventory here, months
of supply, excuse me, and talkabout a little bit more about
inventory if you have somedetails on that.
I'd love to know uh for thosethat are kind of thinking about
different cities and ordifferent counties, uh where
obviously we're at a you knowfour to six months of supply.
(17:29):
Yeah.
Where do you see the mostsupply, where are you seeing
like the least in NorthwestArkansas?
SPEAKER_03 (17:33):
So Benton County has it actually increased 39% um
year over year.
Wow.
And then Washington County, Ifeel like has been a little bit
steadier and it's at 22%.
Okay.
Um and that's from so as far astransaction volume, which is
slightly different than whatyou're looking for, um
Bentonville actually had had anincrease of 4.7%.
(17:57):
Um Springdale had 3.27%increase.
SPEAKER_04 (18:01):
Yeah.
SPEAKER_03 (18:02):
And then Farmington had a 25% increase in closed
transactions, and Lowell was at10%.
Wow.
The remaining cities all had adecrease in it in closed
transactions.
SPEAKER_02 (18:14):
Oh that's really interesting.
That Farmington ones really I'dlike to keep a touch base on
what about Prairie Grove?
I guess it was decrease.
SPEAKER_03 (18:23):
So Prairie Grove.
It didn't make the top 15.
SPEAKER_02 (18:28):
Okay.
Well never mind.
SPEAKER_00 (18:33):
Probably a lot.
Sorry about you, it sounds likeit sounds like a lot of those
new construction areas uh oreven more affordable areas in
general are uh getting thebenefit right now.
Sounds like definitely.
SPEAKER_03 (18:44):
I think that, you know, even silome with a study,
um, I think they just kind ofremain balanced.
They didn't have a decrease oran increase.
SPEAKER_02 (18:53):
Yeah.
I I guess uh an interestingtopic to have for I'd love I'd
love your opinion opinion,Desiree, on a seller comes to
you right now and you're like,hey, should I sell now or in the
spring?
Uh what what are you tellingthem at this point?
SPEAKER_03 (19:08):
Typically I ask them I break it down to what their
goals are.
SPEAKER_02 (19:12):
Yeah.
SPEAKER_03 (19:12):
You know, are they needing to buy right away?
Because you're buying in thesame market regardless.
SPEAKER_04 (19:17):
Yeah.
SPEAKER_03 (19:17):
You know, if you buy in the spring, then you're in
buying at the height too.
So it's kind of a win-lose, wholose win.
I don't know.
SPEAKER_02 (19:25):
Yeah.
Kind of having the conversationa lot right now with like people
debating with what the interestrate's doing and the market,
like, oh, if it's trendingdownwards, does that mean we're
gonna have a hotter end of theyear?
Uh what's gonna happen in thespring?
And uh I would say it's verysituational based and
life-based, and where's yourstress tolerance uh on a lot of
it?
But you know, I don't thinkwe're necessarily gonna see it
(19:48):
like hammer off and fall off,and especially with the the
promise of trending rates downtowards the end of the year.
SPEAKER_03 (19:57):
I think it's normal for us to see longer days on
market right now.
SPEAKER_02 (20:00):
Yeah.
SPEAKER_03 (20:00):
Um, and and like you said early on, expectations,
setting the expectations withthe seller up front is key.
SPEAKER_02 (20:07):
Yeah, a hundred percent.
Um let's talk a little bit aboutum was that was that all we had
on um there was a how manycities increased again?
One, two, three, four.
Only four, and the rest of themdecreased in transaction.
That I think that's that's verytelling.
I think the interesting part isFarmington, we're seeing a lot
(20:29):
more uh land is easier topurchase for these developers
out there.
Um and so it's one easier and itis more affordable.
And so we're seeing a lot ofbuilding permits being uh given
out there.
Um I mean, there's also the Imean, an interesting thing is
Centerton, the Cinnerton waterthing.
(20:49):
I mean, like what's Centertongonna look like over the next uh
year or two years when they'rethe Centerton actually was one
of the top to decrease.
SPEAKER_03 (20:57):
It decreased by almost 35 percent really in
transaction volume, along withCave Springs at 38%.
SPEAKER_01 (21:04):
Interesting.
And Cinnerton is just now theyjust announced their like new uh
downtown like plans that you'rehaving a downtown with a Walmart
Super Center and wow, uh like adowntown square.
SPEAKER_02 (21:16):
That's one of my my main points all the time.
Like, I don't really know what'sout in Centerton besides just
driving to Bentonville.
So I can I think that could bevery helpful.
SPEAKER_03 (21:25):
Like when I look at the rental side of things, I see
there's a lot more inventory inCenton than Bentonville or the
surrounding areas.
And so that's probably a concernfor people.
SPEAKER_02 (21:36):
Yeah, yeah.
But Brandon, have you heard anymore on the Centerton um water
supply thing, uh sewer water?
SPEAKER_00 (21:45):
No, no, not in a while.
I know uh it seemed like it wasmore of a four to five year
solution than a two to threeyear or less, um, or maybe more.
I mean, we'll we'll kind of seehow it plays out.
And it sounds like it's spillingover into other cities as well
that are having some issues andthings like that.
But yeah, I think obviously it'sgonna affect there's folks that
(22:08):
have bought land that to developthat, um, you know, that are now
learning that they can't developthat until things change.
So, you know, it'll beinteresting.
You're gonna have uh I think theinteresting thing about
Centerton is for so long it'sbeen um, you know, still
affordable, but there's beenpremiums that folks can get in
rent out there that kind ofmimic Bentonville a little bit,
(22:30):
seem like so higher rents, butstill lower cost of entry.
SPEAKER_04 (22:33):
Yeah.
SPEAKER_00 (22:34):
Um, and I wonder if you know that's happening
elsewhere at all.
But um, but yeah, I think it'sit'll be interesting to see kind
of how that plays out.
But it seems like it'll continueto help other cities around as
far as price per foot and thingslike that.
SPEAKER_03 (22:46):
So I think it'll put a strain on Centerton in the
long term because inventory isonly gonna get shrink.
SPEAKER_02 (22:53):
Yeah, yeah.
I I at center it would be itwill be nice.
SPEAKER_01 (22:57):
Did they give a timeline on the downtown?
Did you solve I didn't dig intoit, but I just saw like a
Walmart center, like uh supercenter and then a downtown
corridor they're trying to make.
That will be uh very muchneeded.
SPEAKER_03 (23:10):
Yeah, I think it's just south of uh McDonald's.
SPEAKER_01 (23:13):
Yeah, yeah.
SPEAKER_00 (23:14):
Yes.
So uh for you, what what do youthink what do you feel like is
the most interesting piece ofdata that that uh you know tells
you feel like tells the biggeststory uh each time you're kind
of putting those together?
SPEAKER_03 (23:26):
I don't ever feel like it's just one piece that
you can just name one piece todefine a market.
Um I do think months on monthsof inventory is super important.
Um and it tells a lot about youknow what to expect of the buyer
or seller.
Do you have negotiation power?
(23:47):
Do you not?
Um so that would be one of thekeys.
Days on market is another bigthing.
You know, the longer, the moreit increases, obviously that
also correlates back to monthsof inventory.
Um and so then you the longeryou're on the market, the more
negotiation power a buyer has.
SPEAKER_00 (24:04):
Yeah.
That's interesting.
I think I think for investors,if you look at some of the big
cities out there, Austin,Dallas, etc., um, you know, one
of the biggest indicators ismonths of supply and how how
much they've developed in such ashort time.
And so now you're seeing thesethese price cuts of 20, 30
percent or whatever.
Um, so I think for investors,you know, it's something to pay
(24:26):
attention to.
How is development going in inthe area that you're looking to
purchase in?
Yeah.
Um, you know, it's it's simplysupply and demand.
And you know, if you're buyingin, you know, at peak prices
when they've developed, youknow, or added 50% of inventory
or whatever in the last year,you know, it might be something
to pay attention to.
Yes, 100%.
SPEAKER_01 (24:47):
Price per square foot and increase is there too.
I don't think I haven't seen anymarket have a decrease in in
that year over year.
Year over year is just aconstantly going out.
Yeah, I don't know if you guyssee that leveling out or or
ever.
SPEAKER_03 (25:01):
I would think that something to watch is you know,
areas that that are growing.
If you're buying an older homeand you're surrounded by new
construction, you may not seethat increase as much.
SPEAKER_00 (25:13):
Yeah.
Yeah.
Yeah, that's that's another goodpoint right there.
I think we, you know, there's alot of I've got a lot of clients
that have bought in Tony Town,let's say a lot of new
construction out there.
They've lived there for threeyears and they've maybe seen 5%
increase in equity, maybe 10 atmost.
I mean, when someone can go outthere and buy basically the same
(25:34):
product, brand new, yeah.
Um, you know, just something topay attention to.
Is are the properties or theplaces that you're looking at?
Um, is there a lot ofdevelopment happening around
that?
That's good, but you may not seeshort-term increases that maybe
longer term and something payattention to.
SPEAKER_02 (25:50):
Well, like my my new construction people, if they're
like, hey, we really want to gonew construction, I'm like, hey,
let's get in phase one becauseyou're gonna have phase two,
three, four, five.
It's gonna the same house at 330is now gonna be worth, you know,
360 or 370 within two years.
And so it's like guaranteedappreciation if you're going.
But like I do see the pointstoo.
(26:12):
If you have an older, not older,pre-owned home and you've got
all this new building aroundyou, it is something to think
about um buying in a market.
That's why a lot of my deals,like September we had 12,
October we had six, and Novemberwe're gonna have 11 uh new
construction investors on newconstruction homes uh with my
(26:34):
client base.
And it's because one, the deal'sgreat, two, I mean, you can't
you can't you just can't beat itanywhere.
And uh as much as I thought thatLenar would be a competitor to
DR Horton in this market, it'sjust kind of been taken off just
route kind of Roush Coleman 2.0versus just still big dog DR.
(26:55):
Um, and there's still justthere's just nothing that beats.
I mean, yes, it's not premier,premier quality, um, but it's
plenty good enough.
And the it's the I mean, they'redoing like some$35,000 red tag
event right now.
It's like take$35,000 off or getyourself a 3.8% interest rate,
(27:16):
or um, it's a lot of I see a lotof new construction controlling
the pace and flow.
And it is interesting.
We're seeing that I'm having theconversations with days on
market.
Yes, it's gone up, but the priceper square foot also is still
increasing.
To answer your question long, II feel like we're gonna continue
to see the steady increase inappreciation.
(27:37):
Um, I don't necessarily see aworld where, you know, do you
know the stat uh you view youwould be great to ask on how how
like when is our populationhere?
Everyone talks about thepopulation here doubling.
Like, is it like a 10?
Is it a 15 year?
Is it a 20-year thing?
SPEAKER_03 (27:52):
Like supposed to be 2040, I believe we're supposed
to be a million.
SPEAKER_02 (27:56):
Okay.
So that's like 15 years fromnow.
Yeah, 15 years from now.
So it's like, you know, I tellsome people like you, we bark by
cardboard cardboard box rightnow and we might be good.
Like if we hold on to it longenough.
Yeah.
But we can be smarter than that.
Um Brandon, are there any pointsto wrap up section one here that
you can?
SPEAKER_00 (28:14):
I think I think just last to wrap it up, I I'd be
curious on for investors or oreven home buyers, what what
cities you might be most excitedabout?
Uh gosh, for the future.
SPEAKER_03 (28:25):
So this may be kind of opinionated.
Sure.
SPEAKER_02 (28:31):
But please bring it.
SPEAKER_03 (28:34):
I do think that Pea Ridge, Bella Vista, I also think
Tawnytown and Elm Springs.
Reasons being um Tawnytown andElm Springs, you have 612,
that's being input.
And so the convenience forpeople who are, say, families
that work in both Washington andBenton County, they can commute
(28:56):
easily from those areas.
And then as far as Bella Vistaand Pea Ridge, Bentonville's
traffic, you know, is gettingcrazy and the prices are just
continuing to skyrocket.
And so going to the outskirts iswhere most people end up going.
SPEAKER_02 (29:13):
Yeah.
SPEAKER_03 (29:13):
If they want to live on the north end, affordable.
SPEAKER_02 (29:16):
A lot of lot of uh good things coming from Bella
Vista and P Ridge right now.
I I'm very much on board withthose, with those.
Do you feel the same way?
Yeah, absolutely.
Yep.
I mean, for do you see anythingfrom like a commercial
standpoint on like the with thislike cities to keep an eye on?
Like, do we see, do you like inyour in your uh view, do you
(29:37):
keep an eye on P Ridge for likecommercial developments in the
future?
SPEAKER_01 (29:39):
Yeah, I mean, uh I we need to have Nathan C on here
too.
Yeah, he's been a big driver ofuh P Ridge.
I like P Ridge.
It's not there yet.
You know, it you're kind ofmaking a bet on the future, but
everything points to it growing.
People are betting right now.
There's a new development planout there.
I'm bullish on Fort Smith.
I I've done a lot in Fort Smith.
It's not technically.
(30:00):
NWA, but I buy a lot there andthere's not as much competition
there.
And it's it's a steady eddy.
It's not it's never gonna beNWA, but it has a lot of growth
and um still a lot of good,yeah, a lot of good good buying
opportunities there.
Yeah.
Um I like all the Springdale.
(30:21):
I'm I'm very bull bullish onSpringdale more than most
people.
I think that it the vacancy justcame out, it's like 1.5% like
decreased or something likethat.
So there's a huge need uh forhousing there.
So if you can get land at a goodbasis, you know, that's that's
(30:41):
prime for uh development or evenvalue add investing that is good
in Spring Deal too.
Yeah, yeah.
SPEAKER_02 (30:47):
Um that's right.
I would ask as we wrap up here.
If you're an investor, uh wehave a lot of people from out of
state listening in.
What are some what are your toptwo or three things you're that
you're looking at in this marketto either to confirm your gut?
Um if you're if you're lookingat this market and looking at
cities to buy, one, what citiesare you looking at to buy?
(31:07):
Is it one of those?
Or it and and then what datapoints are you looking at to
figure out where to buy?
SPEAKER_03 (31:14):
So as far as data points, it's you know, if you're
doing a long-term rental, um,you're looking at what the price
per square foot is, yeah, whatthe growth of that particular
area is, and also I think a keypoint would be infrastructure,
which isn't really a necessarilya data point.
SPEAKER_04 (31:31):
Right, right.
SPEAKER_03 (31:32):
But if you have lack of infrastructure, you may have
lack of inventory later on.
SPEAKER_04 (31:36):
Yeah.
SPEAKER_03 (31:37):
Um so I do think that those four areas or that I
named gonna continue to grow.
SPEAKER_02 (31:43):
Those those are great.
SPEAKER_03 (31:44):
Um and I do think actually Fort Smith is a great
point because coming fromFlorida, I've lived in some
cities and people end up drivingan hour and a half at some
point, you know, because it doesbecome unaffordable to live in
that major metropolitan area.
SPEAKER_02 (31:57):
Yeah.
West Fork might blow up soon.
Greenland.
Greenland, here we go, baby.
SPEAKER_03 (32:04):
I think it'll be a while before we see that.
SPEAKER_01 (32:07):
Highly undeveloped.
True.
Sure's good stuff, guys.
I mean, don't buy uh don't builda pool unless you just want to
love swimming.
Uh that paint paint is a greatupgrade.
Uh shout out lax and painting.
Yeah.
SPEAKER_00 (32:21):
Um what else do you Yeah, days uh days on more or
days on market and months ofsupply, I think, are are key
metrics uh to me, especially forinvestors.
So I'd keep an eye out on those.
Yeah.
Any anything else?
SPEAKER_02 (32:33):
Man, I would say um if you're if you're looking in
this market, uh book look forsomebody to guide you like
Desiree, like Brandon or myself.
If you had your real estatelicense, I'd say you too.
Um look for somebody like us tolead and guide you and have your
hand.
You don't have to have all theanswers, but just if you're
listening in, be aware enough toknow where to find one of us.
(32:56):
There's only a handful of usthat can really lead in and
guide.
There's 4,000 agents, and Ialways say there's not very many
that can uh accurately help youbuy an investment property.
Um now there's there's a lot ofgreat agents, but uh to buy
investment properties, find findsomeone like us and we can lead
and guide you to the right spot.
SPEAKER_03 (33:15):
I'd also like to add in that collaboration happens at
the top.
SPEAKER_02 (33:18):
Yes.
SPEAKER_03 (33:19):
And so sometimes we're able to work deals off off
markets.
SPEAKER_02 (33:22):
Yes, yep.
100%.
Absolutely.
Some deals happen there.
Desiree, thank you for episodeone here uh of this uh this
little series we're doing.
Uh, if you're listening, go tothe next episode.
We're gonna uh be interviewingDesiree again for part two.
SPEAKER_03 (33:37):
Thank you.
SPEAKER_02 (33:38):
Again, thank you guys for tuning in.
I'm gonna go ahead and uh listsome sponsors off here.
We're gonna start with WinstonePrivate Lending.
This episode is brought to youby Winstone Private Lending, one
of the top private and hardmoney lenders now serving
Northwest Arkansas.
Whether you need short-termcapital for a flip, a bridge
loan, or creative financing,they've got you covered with
(34:00):
very flexible products to fitnearly any deal, including 100%
financing.
What sets them apart is theirdeep expertise, fast response
times, and ability to thinkoutside of the box to help
investors like us close quicklyand efficiently.
If you're looking for a reallending partner, check out
Winstone Private Lending.
Link is in the show notes.
(34:22):
Our next sponsor is AdvantagedTitle and Escrow.
They're a local company, they dogreat work.
Specifically Kayla Phillips.
I can speak personally on thissponsor because I use Kayla for
all of my transactions.
It's been two, three, four yearsnow, and Kayla and I have done a
ton of deals.
We probably do between 65 to 80deals a year together.
(34:45):
Um, and they do a great job.
The sit the SOPs, so systems andprocessing that they have over
Advantage Title is justincredible.
Clients love it.
They do a great job from startto end communicating.
When I give a deal to AdvantageTitle and Escrow, I know that
it's going to be taken care of.
There's no second guessing.
I almost am able to treat themlike a second transaction
(35:06):
coordinator to my transactioncoordinator that I already have.
I know that they're going tohandle the systems and processes
correctly.
As an agent, as a homeowner, asa buyer or seller, they do an
incredible job of handling atransaction and communicating
throughout the process.
They do a great job withcommunication, especially Kayla
Phillips over there.
I would highly encourage you ifyou're looking to close on a
(35:30):
home, buy a home, if you're anagent listening, to use
Advantage Title and Escrow,specifically Kayla Phillips.
So you're going to reach Kaylabest at 501-358-1601.
Or you can email her at Kayla CA Y L A at Goadvantage
(35:51):
Title.com.
Advantage is A-D-V-A-N-T-A-G Etitle.com.
If you enjoyed the show, makesure to give us a follow on your
favorite podcast platform so younever miss an update.
SPEAKER_01 (36:05):
Don't forget to connect with us on Instagram,
Facebook, and LinkedIn for morereal estate insights and behind
the scenes content.
SPEAKER_00 (36:11):
Have a question you want us to cover, send it our
way.
And if you're interested insponsoring the show, visit NWA
Investing.com to get in touch.
Thanks for listening, and we'llsee you next time.
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