Murphy Mark, Home Buyer in Hot Springs, AR

Waterfront Lake Hamilton property in Hot Springs AR

Asked by Murphy Mark, Hot Springs, AR Wed Jan 5, 2011

What should be per sq foot price in Hot Springs AR for lake hamilton water front property? Any difference in price for old vs new home on lake front?

I have seen few properties and price variation is wide and lots of time I just do not give offer because I feel it might be too low. Based on my understanding of market, for new house between 120 -140 per sq. foot is good price for lake front and for old house it might be lower.

I would like to know what pro thinks here or somebody who purchased a lake front property recently can help.

thanks in advance.

Murphy Mark

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Answers

3
Any good agent can show you comparable properties sold and help you calculate an offer from a "lowball offer" to full price and a seller has 3 options: accept,counter offer, or reject. Fear of offering to little is not your real fear. The fear of loss is greater than the anticipation of gain. How ya gonna get hurt buying in this market? Get off the sidelines and buy something:)
0 votes Thank Flag Link Thu Jan 22, 2015
GREAT QUESTION!
Buying a house by the price per sq foot is like buying a car by the pound. Not all properties are alike! Just like not all cars are alike. Some have leather seats, power windows, up graded stereo, would you pay the same as one with cloth seats, no stereo, no navigation system, crank windows.
Real Estate.....If every house was built with the same floor plan and materials on the same lot by the same builder then price per sq ft makes sense....but that is not reality. Use sq ft as a tool or a loose guide....but when comparing properties ---there are too many variables. On the lake you have location, view, lot slope, water depth, age and condition of the house, quality of the finishes, etc. That is why you need a good realtor that knows the market you are looking in to help filter the parameters and guide you so you don't make a costly mistake.

My husband and I work as a team to provide the best service possible and have extensive knowledge of the area and lake front properties. Feel free to contact one of us if you want more help along the way.

Happy to Help!!

Sherry Scott
501-520-8400 501-520-8500
0 votes Thank Flag Link Tue Mar 18, 2014
Mr. Murphy -

Waterfront property in Hot Springs will vary widely depending on age & frontage. Typically the more land & frontage involved the higher the price. Age also is a huge factor in pricing - the newer the home the more expensive per square foot for the improvements.

Hot Springs also has property on Lake Quachita & Lake Catherine which offers more choice and more pricing options. Depending on if you want a detached single family home or a condominium will also influence pricing.

If you would like me to send you a link to available homes within the multi-listing service, feel free to contact me. Best of luch in your search. Hot Springs is a lovely area of Arkansas.

Respectfully yours,
Julann Carney, Realtor
0 votes Thank Flag Link Tue Jan 11, 2011
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