Existing home sales are on the rise.  Buyers are seeing the value of a previously owned home versus new construction.  While home prices have continued to drop, the cost to build new construction has NOT dropped but has increased causing the cost of a new home to be higher for less livable space.

NAR, in their recent newsletter, stated  "While Realtors are working hard to help buyers and sellers, NAR IS WORKING TO HELP their business".  NAR is continuing to "unlock credit markets" fight attacks on home ownership and helping to boost the economy by reaching out to new consumers.

According to RealtyTrac.com, 2010 was a record year for foreclosures and in Arkansas, 1 in every 658 homes received a foreclosure notice in December.  These numbers include everything from a default letter to the bank taking a home back and selling it.  In spite of this, most sellers are realizing around 97% of their asking price when selling prior to foreclosure.

It was also noted that  when remodeling a foreclosed home  prior to marketing it, most always improves the bottom line.