Posts from February 12th, 2009

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Layoffs could damage real-estate market on two fronts - Reported by The Benton County Daily Record in Northwest, Arkansas

February 12th, 2009 by Anonymous

By Tom Treweek Staff Writer ! tomt@nwanews.com

Posted on Thursday, February 12, 2009

BENTON COUNTY - The real-estate market in northwest Arkansas has been slow of late; not that it hasn't been slow everywhere. But with up to 800 layoffs announced by the Wal-Mart Home Office, local brokers are worried about further damage.

Crye-Leike broker Dave Mishler, who works for the company's Bentonville office but will soon head the Bella Vista office, said there is about a 14-month supply of vacant homes for sale in Bentonville, Bella Vista and Rogers. The Wal-Mart layoffs, he said, could add another three- or four-month supply. Should those now without jobs need to move to find work, the market situation could give them little chance to sell their current homes. Mishler estimated that two-thirds of the affected employees are likely homeowners.

"It could make it difficult for those...

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Categories: Crye-Leike in the News