Home Buying in Bella Vista>Question Details

Bobbie G, Other/Just Looking in San Antonio, TX

Why are the lots in Bella Vista, AR so inexpensive?

Asked by Bobbie G, San Antonio, TX Fri Apr 29, 2011

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People just don't know about Bella Vista. When you compare it to other resort-like areas nationally, it stacks up very well in not only amenities but also when looking at cost basis. Also, the low Property Owner's Association dues of $16 monthly pretty much blow every similar community out of the water.

Yes there is a large number of lots here, but that does not mean that they are 'supply' because most of those vacant lots are not listed for sale. Right now, out of approximately 25,000 vacant lots, less than 750 are actually on the market. Bella Vista land remains one of the top values on not only our local MLS but also statewide and nationally.
0 votes Thank Flag Link Mon Jan 28, 2013
Bottom line is there are too many lots and not enough buyers.
0 votes Thank Flag Link Thu Jun 30, 2011
Bella Vista lots were originally marketed by Cooper and Cooper only. This didn't allow for any competition on price so the price was set much higher. The average lot was initially sold for closer to $10,000 which was considered a good deal when compared to other areas of the county. As some of the owners of lots changed their minds about building here for one reason or another and wanted to put their lots back on the market, Other Realtors were allowed to enter the market because 1)It is said, Cooper agents were not allowed to sell for anyone other than Cooper and 2) Owners of the lots could not be prohibited from using the Realtor of their choice to sell the lot. Orchestrating this arrangement took time so before long, the market was flooded with re-sale lots which pushed the price down.. At the height of the market, large investors were buying up every lot they could get their hands on in hopes of controlling the lot market like Cooper once did. However, when the market got soft, all those lots were dumped onto the market again due to the expense of taxes and POA Dues attached to each lot. This combined with the slow down in new construction due to the downturn of the market and the approximate cost of permits for new homes of $10,000 flooded the market again.. To this day we still have over 1,000 lots available on the market. I hope this answers your question, A good buildable lot can be purchased today for somewhere under $6,000.00 and is generally about 1/3 acre in size most with common space to at least one side of them. If you have further questions or wish to learn more about the Bella Vista market, please visit my website or contact me. I do specialize in the Bella Vista market.
0 votes Thank Flag Link Sat Apr 30, 2011
Lots are inexpensive (real bargains) in Bella Vista because there are so many of them available. Out of approximately 36,000 Lots, only 13,000 have homes on them. But, look at the growth rate of Bella Vista in the past. Once the banks start loaning money again, look out. No longer a "retirement village", the City of Bella Vista (incorporated only 4 years ago) now has a population of more than 26,000. With its hills, lakes, golf courses and proximity to 4 other cities, Bella Vista and Northwest Arkansas have quite a lot to offer for young families and retirees alike.
0 votes Thank Flag Link Fri Apr 29, 2011
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