Chad Kumpe

There is allot on the Internet about Foreclosures and I think I know why. It seems most seller are wwaiting on 1, The election to be over. 2, Prices to stabilize. 3, the market to go back up. Most buyers are 1. Waiting on the election to be over. @, Prices to stabilize. #. Prices to go down further. There is one very large and growing section of the market that is not wwaiting on any thing and the is the foreclosure market. It is a hard market but it can be a good source of income in these times. Financial institutions need to sell. It must be working because that is why you see so much about it on the Internet. REBAC has a great class on Foreclosure. It will help an active agent tap into this market.

The leaves have really started to turn in the Ozarks. The first frost was last night. This week will be very colorful around Beaver Lake.

Chad Kumpe, GRI,ABR,CRS,SRES

Broker Chad Kumpe Real Estate

Beaver Lake in Arkansas

From all indications the real Estate Market is improving in Northwest Arkansas. The Chamber of Commerce had a Job Fair that had 2700 people register and filled prospect lists for 2500 jobs. Reports from Street Smart indicate the 325 jobs are being created per month. The MLS inventory of homes on the market is continuing to go down. It's not like 2005 or 2006 but some agents are reporting multiplel offers again.

In a discussion among seasoned agents, the subject of "What is an agents responsibility in helping a buyers with financing?" Do we go back to the '70s and attempt to pre-qualify buyers with housing and debt ratios (front end, back end) or do agents leave that to the lender? Some lenders have put buyers into loans that worked out badly and some buyers made bad decisions. Did agents fall down on their jobs as educators? This will be an intresting discussion.

The fall colors have arrived in the Ozarks. We were on Beaver Lake last week end and the trees are just about to bust out in their colors. The rain and cold front will be the tipping point. The forests will be brilliant this weekend.

Chad Kumpe, GRI,ABR,CRS,SRES

Principal Broker, Chad Kumpe Real Estate

I heard and saw a good presentation on E-Pro by Saul Kline this morning. This seems like a very worth while designations for Realtors.

We had rain again this morning and Beaver Lake is almost up to the damn height. It would be hard for a party barge to get under the Hwy. 12 Bridge. The colors of the leaves will turn in bout 10 days. I now have a Beaver Lake Weather Station on my web site.

Chad Kumpe, GRI,ABR,CRS,SRES

Although many reporting services are saying home values have falled as much as 16% that is not the case in the Rogers Arkansas and Fayetteville Arkansas markets. The Rogers Arkansas home prices are up slightly and the Fayetteville Arkansas values as indicated by sales are up 4%. 350 jobs are being created each month due in part to the strength of Walmart and their suppliers.

Beaver lake is still brimming full and will not recede much till November. This will make for excellent fishing in future years as the spring spawn has plenty of cover from predators.

ChadKumpe GRI,ABR,CRS,SRES

Principal Broker, Chad Kumpe Real Estate

I just finished my teaching duties before license renewal, Have a plan for Board education for 2009. Looks good, a great many licensees in class this month were very ignorant about the use of the Internet. They mostly leave it up to the MLS or their company. Early next year the Rogers Board will provide the ABR elective "The E-Buyer" Hope we get a good crowd.

The big news at "Street Smart" today was the market reduction in residential inventory and the big reduction in office space vacancy in Bentonville. There is still a good number of people moving to NWA at least 325 per month. Job creation is healthy. We may know after the first quarter of 2009 that we have hit bottom in this market and will have a good 2009.

Beaver Lake is still very full and due to the fact water is still filling all of our upper White River lake the Corp of Engineers will not start lowering Beaver Lake till November. I pity those folks with private docks. There will be allot of adjusting this winter.