Closer Look: Buying and Selling Options - KAIT Jonesboro, AR - Region 8 News, weather, sports

Trumann, AR - Will Carter Reports

Closer Look: Buying and Selling Options

TRUMANN, AR (KAIT) - Realtor Vance McDaniel of Trumann places a sold sign in the front yard of one of his recent developments.

At a time when it seems the national housing market is crumbling, he says Northeast Arkansas is definitely opposing that trend.

"Jonesboro, Trumann, and Paragould is like a hub or a triangle in housing. It really doesn't fit into the scheme of the whole United States," said McDaniel.

He believes this is because of the area's strength industrially.

"It seems like sometimes we'll have one that will cry and say they are shutting down and laying off people. Then, the next day, you are likely to see 120 workers added onto this factory over here," said McDaniel.

McDaniel has been working in real estate for more than 35 years, and began flipping houses for resale several years ago.

While some might think this risky when looking at the national picture, he says it's something he's completely comfortable with.

"I believe if houses aren't selling, then I need to be buying houses," said McDaniel.

And while it is a gamble and there's always a chance of losing money, he says with the right resources you can make a profit.

"You've got to do your homework. You've got to make the numbers work. You've got to follow through. It's a big follow through circumstance," said McDaniel.

McDaniel says most importantly is how you percieve the reality.

"You pick out the best stories, and they make them real dynamic and look real good where these people made 50-thousand dollars on a flip. Well, I've never made 50-thousand dollars on a flip of a house," said McDaniel.

But when it comes to selling homes in general, he says economic conditions have made for a much smarter and careful buyer.

"They are more educated. The buyers will look a little bit harder, and they weight the pricing better," said McDaniel.

And that's something even realtors can appreciate.

McDaniel also tells me that both realtors and mortgage companies have went through a lot more extensive training in recent months so that they can better work with buyers in a time of economic hardships.


Story ideas or comments?  Email Will at wcarter@kait8.com

 

Powered by Frankly