2 Buy Sell Or Invest

By Art Gib

 The name “Arkansas,” is derived from the French interpretation of a Quapaw word which means either, “land of the downriver people,” or, “people of the south wind.” Though the name’s French roots should make the pronunciation obvious, there was, believe it or not, intense debate about it between the state’s senators during the nineteenth century. One insisted it should be pronounced the same as Kansas; the other senator, considering the word’s French influence, claimed it should be AR-kan-saw. The latter won out, and in 1881, an act of the state legislature declared its official pronunciation.

In the days before European colonialism, Arkansas was home to a number of Native American nations, including the Quapaw, the Osage, and the Caddo nations. The first known Europeans to step onto the scene came in 1540: Hernando De Soto with a crew of fellow explorers. The Spanish seemed to have neglected or lost the land, however, as it was part of the huge swath of territory sold by Napoleon Bonaparte to the United States in the Louisiana Purchase in 1803.

The territory was officially organized in July of 1819, with most of its eastern border being naturally marked by the course of the Mississippi River, and the rest of its borders touching six states. But it didn’t enter the Union until almost two decades later; on June 15, 1836, Arkansas was admitted as the twenty-fifth state.

Because Arkansas shares its southwestern border with Texas, the state was able to play a pivotal role in the struggle for Texas’ independence from Mexico. Later, in the Mexican-American War of 1846, the border town of Washington became a key station for supplying and gathering troops. Arkansas’s governor even called upon the men of the state to volunteer to fight in order to create the first Regiment of Arkansas Calvary.

Over the course of the nineteenth century, Arkansas developed a “cotton culture,” like many of its neighbors who benefited from the close proximity to the Mississippi River. After the Civil War and Reconstruction Era, numerous immigrants–Italians, Chinese, Syrians, and so on–found opportunities to work the land. Many of them eventually dispersed from the farms into more urban centers, but in any case, this diversified the population of the state.

The introduction of the railroad made it more feasible to populate seemingly remote areas such as Eureka Springs in Carroll County in the Ozark Mountains. Because of the new ease of travel, it became a prime “tourist destination,” where tourism would not have been viable before. It is considered a very unique and eclectic town, home to artists and novelists, the devoutly religious, the old-fashioned, and the progressive.

Perhaps Eureka Springs serves as a microcosm of the state at large because no matter which way you pronounce it, Arkansas has abundant diversity: of opinions, of tribal history, of struggles, and of people.

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For the best in Arkansas real estate, visit Remax Arkansas (http://www.remax-arkansas.com/arkansas-real-estate.aspx) for your property needs. Whether it’s existing homes, new construction, commercial property, or land for sale, they are the leading professionals. Art Gib is a freelance writer.

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Understanding the Sellers Listing Price Strategy
By Evan Sage

 The first and foremost important step in purchasing a Toronto home is preparing the offer, as the terms set out in the agreement will dictate your type of lifestyle for the coming years.

To ensure the success of this important aspect of the purchase be sure to set up a meeting with your Toronto real estate agent once you have found the right Toronto home.

It is with your agent that you can go over the specifics of the offer and have the document finalized. Take your time to ensure its accuracy as once you have signed it the document becomes binding and irrevocable.

Once this is complete the offer gets registered and made available to the listing agent, and thereafter the offer presentation appointment is set.

When purchasing in Toronto offer presentations usually take place on the same day, sometimes lasting all day long with back and forth negotiations.

Your Toronto real estate agent handles your side of the negotiation and also presents your offer to the vendor and listing agent.

As these talks can go late into the evening, be sure to make yourself readily available for any sign backs that you may need to consider and authorize.

This article will focus on your different pricing strategies. Keep in mind some work better than others in a weak economy.

OFFER AMOUNT

Pricing Guidelines:

Below are a few general guidelines for Toronto homes.

1. Poor properties that are under-priced generally sell for asking price, rarely more

2. Average properties that are well priced generally sell for asking price, occasionally more.

3. Excellent properties that are new to the market generally sell for asking price, frequently more.

4. Anything else generally gets sold for below the asking price.

OVERPRICED?

See if the house on which you are bidding is overpriced by comparing the various listing price strategies provided below. This exercise can help you determine a fair offering price.

Listing Price Strategy

#1 Below Fair Market Value

Priced below value, these properties frequently incite bidding wars and end up selling over asking price.

Reasons for listing below market value include the real estate agent suggesting too low a price, or sometimes the vendor simply wants to sell quickly.

#2 At Fair Market Value

Priced very competitive, these homes generally sell fast and very close (near, at or above) to the listing price.

#3 Slightly Overpriced

These properties are generally between five to ten percent overpriced.

Most homes listed for sale use this strategy as they either feel their home is truly worth the price, or they wish to leave some room for negotiation.

#4 Extremely Overpriced

Extremely overpriced properties are generally between ten to twenty five percent overpriced. Vendors may do this for a variety of reasons.

They may genuinely feel that their home is worth that price, but more often than not some real estate agents have grossly inflated the value of the home to get the listing.

Unfortunately there is a natural tendency to work with an agent who quotes them the highest price, putting the vendor in a disadvantageous position when the property remains unsold for quite some time.

The longer an overpriced property stays on the market, the more bargaining power the buyer will have.

Evan Sage is an award winning Toronto Real Estate Agent specializing in working with clients who are downsizing their homes in Rosedale, Lawrence Park, Lytton Park, Hoggs Hollow and North Toronto. Evan works hard to instill in his clients the confidence to make the right purchase or sale decision. He achieves this by demonstrating a superior knowledge of Toronto real estate and by by educating his clients through the entire process.

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