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There is something happening all the time in NW Arkansas. It’s no wonder our corner of the Ozarks is known for its high quality of life. Many of the offerings are free or low cost.
Tonight, for example, is the first of a 6-concert chamber music series sponsored by the university and KUAF, the local public radio station. Like all of the concerts in the series, it is free and starts at 7:30. Tonite’s concert is at the Stella Boyle Smith Concert Hall at the University, as are all of the concerts except next week, when it is at St. Paul’s Episcopal Church on Dickson St. For a glimpse on works to be played and map on how to get to the concerts, click here.
Here’s a brief rundown of some other upcoming events so you won’t miss anything:
The First Friday of every month through November, beautiful Bentonville Square has activities for the whole family. June 1st and 2nd will be a two-day affair in conjunction with ArtFest (see below). July 6th and 7th will feature arts and music – both Blues and Rock. August will celebrate back-to-school time with toys and a meet-and-greet session with teachers.
Bentonville is hosting Artfest during the month of June. It starts May 31 with Art Fete at Peel Mansion. Activities continue through June 30 with music, food, art presentations and a film festival.
No mention of Bentonville would be complete without a nod to Crystal Bridges Museum of American Art. Open every day except Tuesdays, the museum is a must see. One exhibit costs $5; all the other galleries are free. Beautiful trails surround outstanding architecture.
Fayetteville’s Artosphere has many unique events throughout May and June at a wide variety of locations, including Crystal Bridges Museum in Bentonville. There will be six days of chamber music concerts in renowned chapels such as Thornecrown Chapel in Eureka Springs and Cooper Chapel in Bella Vista. Dates are June 14th to 21st. The Artosphere Festival Orchestra will perform classical works June 17th, 18th and 22st at various NW Arkansas venues. Some concerts are free and prices for others will be $10-$25.
August 23rd to 26th will be four days of music and food by the Fayetteville Roots Festival. Their slogan is “A mountain town in its natural state” and it promises to be a great time in the Ozarks. Walton Arts Center will be the main stage with happenings all around Fayetteville.
Outdoor musical presentations will continue throughout the summer at Arkansas Music Pavilion (“The AMP”) in Fayetteville. Be sure to note a temporary change of location this year. While awaiting completion of the new pavilion at NW Arkansas Mall, the venue is Washington County Fairgrounds. There is a great lineup of artists including Ted Nugent, Luke Bryant, Gavin DeGraw and Pat Benatar.
Downtown Fayetteville welcomes everyone to the town square on the First Thursday of each month, except in the winter. The square becomes a vibrant scene celebrating art, artists, music and fun for all members of the family. Best part, it’s all free.
And finally, the Gulley Park Summer Concert series begins May 31 with free entertainment, as always. The presentations are extremely popular family fun. Bring your lawn chairs and blankets.
There's probably more that I haven't thought of, but this will give you a start. Have a happy, safe , and fun summer.
Thursday, May 24, 2012
Monday, May 07, 2012
Siloam Springs, Arkansas – Another Great Place to Live in NW Arkansas
I came across an article recently in the online version of Smithsonian Magazine that I wanted to share.
According to the article, Siloam Springs, Arkansas, was rated #14 on Smithsonian’s list of the top 20 small towns in America. That’s a pretty good rating on any scale. I’ve written previously about excellent rankings for cities in NW Arkansas, but this may be the first for Siloam Springs.
Geographically, it is a small town at only about 10 square miles, situated on the border with Oklahoma. Population growth has been dramatic, increasing more than 500% since the 2000 census.
The town has churches everywhere. A creek runs through it, and it appropriately got its name from the many springs in the area. Siloam Springs has been recognized by the Arkansas Historic Preservation Program for efforts to preserve and revitalize the city's historic district.
The town hosts parades, a rodeo and festivals, notably the annual Dogwood Festival, and fireworks on Fourth of July. The aquatic park is outstanding. A brand new hospital just opened.
John Brown University draws students from around the country and overseas. Each December the university presents Candlelight Christmas Concerts which are simply beautiful. Tickets go very quickly.
Considering the quality of life enjoyed by its citizens, it seems to exemplify small town life in America. And it's not far from Fayetteville (University of Arkansas) and Bentonville (Crystal Bridges), and other amenities and business venues of NW Arkansas.
Congratulations Siloam Springs.
According to the article, Siloam Springs, Arkansas, was rated #14 on Smithsonian’s list of the top 20 small towns in America. That’s a pretty good rating on any scale. I’ve written previously about excellent rankings for cities in NW Arkansas, but this may be the first for Siloam Springs.
Geographically, it is a small town at only about 10 square miles, situated on the border with Oklahoma. Population growth has been dramatic, increasing more than 500% since the 2000 census.
The town has churches everywhere. A creek runs through it, and it appropriately got its name from the many springs in the area. Siloam Springs has been recognized by the Arkansas Historic Preservation Program for efforts to preserve and revitalize the city's historic district.
The town hosts parades, a rodeo and festivals, notably the annual Dogwood Festival, and fireworks on Fourth of July. The aquatic park is outstanding. A brand new hospital just opened.
John Brown University draws students from around the country and overseas. Each December the university presents Candlelight Christmas Concerts which are simply beautiful. Tickets go very quickly.
Considering the quality of life enjoyed by its citizens, it seems to exemplify small town life in America. And it's not far from Fayetteville (University of Arkansas) and Bentonville (Crystal Bridges), and other amenities and business venues of NW Arkansas.
Congratulations Siloam Springs.
Tuesday, May 01, 2012
Will Our Butterfield Trail Be a National Historic Trail?
Just imagine – St. Louis, Missouri to San Francisco, California in only 25 days. It may sound like a trip you hope never to make, yet the Butterfield Overland Trail was highly rated back in 1858. It changed both transportation and commerce.
Moving people and U.S. mail was an amazing undertaking back then. The need was great and. John Butterfield, Sr. and his Butterfield Overland Stage Company proved it could be done. The route started in St. Louis and passed through Benton, Washington, Crawford and Sebastian Counties in Arkansas. At Ft. Smith, Arkansas it turned southwest through Oklahoma, Texas, New Mexico, Arizona, and onward to Los Angeles, California where it turned north to San Francisco.
Mr. Butterfield lived for a time in Fayetteville and built major stables for the company in Fayetteville. Remnants of the original Butterfield Trail are adjacent to the 8th hole at Butterfield Trail Golf Course in Texas. I know of one roadside marker in Springdale commemorating the Butterfield Trail and it is located appropriately on the corner of Butterfield Coach Road and US Hwy. 412. And there is a well in the back yard of a residence in Fayetteville where supposedly where the stagecoach used to stop for refreshment (I used to live across the street).
Now the National Park Service is studying whether to include the route as a National Historic Trail. It certainly qualifies in my mind.
If you care to comment on the subject, you may do so by May 18, 2012 by contacting:
Gretchen Ward
Outdoor Recreation Planner
National Park Service
National Trails Intermountain Region
P.O. Box 728
Santa Fe, NM 87504
505-988-6033
gretchen_ward@nps.gov
If you prefer, you may comment online at the National Park Service Public Comment and Planning website.
For more information:
National Park Service Information on Butterfield Trail
Butterfield Trail Golf Course in Texas
Moving people and U.S. mail was an amazing undertaking back then. The need was great and. John Butterfield, Sr. and his Butterfield Overland Stage Company proved it could be done. The route started in St. Louis and passed through Benton, Washington, Crawford and Sebastian Counties in Arkansas. At Ft. Smith, Arkansas it turned southwest through Oklahoma, Texas, New Mexico, Arizona, and onward to Los Angeles, California where it turned north to San Francisco.
Mr. Butterfield lived for a time in Fayetteville and built major stables for the company in Fayetteville. Remnants of the original Butterfield Trail are adjacent to the 8th hole at Butterfield Trail Golf Course in Texas. I know of one roadside marker in Springdale commemorating the Butterfield Trail and it is located appropriately on the corner of Butterfield Coach Road and US Hwy. 412. And there is a well in the back yard of a residence in Fayetteville where supposedly where the stagecoach used to stop for refreshment (I used to live across the street).
Now the National Park Service is studying whether to include the route as a National Historic Trail. It certainly qualifies in my mind.
If you care to comment on the subject, you may do so by May 18, 2012 by contacting:
Outdoor Recreation Planner
National Park Service
National Trails Intermountain Region
P.O. Box 728
Santa Fe, NM 87504
505-988-6033
gretchen_ward@nps.gov
If you prefer, you may comment online at the National Park Service Public Comment and Planning website.
For more information:
National Park Service Information on Butterfield Trail
Butterfield Trail Golf Course in Texas
Tuesday, April 17, 2012
The Bobby Petrino Situation--what next for the Razorbacks?
One does not need to be born in Arkansas to know Razorback football is big news most of the time. It is also big business. Thus I am as saddened as anyone to learn of Head Coach Bobby Petrino’s motorcycle accident and the events preceding and succeeding it. Radio, TV, newspapers and just about everyone has been talking about it.
I am not going to judge Coach Petrino’s actions – there is plenty of that going around without me weighing in.
I am, however, very concerned about the players, remaining coaches, backers, fans, and the University of Arkansas as a whole. I understand the search has already started for the next head coach.
In the meanwhile, the public seems to be lining up to take sides over Petrino’s firing. There is no doubt Bobby Petrino is an effective coach. He proved it several times, culminating in taking U of A to the Cotton Bowl earlier this year. Hopes were running high for even more successes in the near future. So it is easy to understand why many fans hoped a way could be found to retain Coach Petrino.
Another group of fans and the public felt honesty, integrity, living up to one’s contracts, and upholding the prestige of the university were of the utmost priority. Ultimately, the university leaders took this position and Bobby Petrino was fired. Fallout today has the young lady resigning her position at the U of A, the Arkansas Children’s Hospital canceling their Bobby Petrino Charity Golf Classic (originally scheduled for June), and the University getting two separate donations totaling $1.25 million for “doing the right thing”.
A sad situation.
I am not going to judge Coach Petrino’s actions – there is plenty of that going around without me weighing in.
I am, however, very concerned about the players, remaining coaches, backers, fans, and the University of Arkansas as a whole. I understand the search has already started for the next head coach.
In the meanwhile, the public seems to be lining up to take sides over Petrino’s firing. There is no doubt Bobby Petrino is an effective coach. He proved it several times, culminating in taking U of A to the Cotton Bowl earlier this year. Hopes were running high for even more successes in the near future. So it is easy to understand why many fans hoped a way could be found to retain Coach Petrino.
Another group of fans and the public felt honesty, integrity, living up to one’s contracts, and upholding the prestige of the university were of the utmost priority. Ultimately, the university leaders took this position and Bobby Petrino was fired. Fallout today has the young lady resigning her position at the U of A, the Arkansas Children’s Hospital canceling their Bobby Petrino Charity Golf Classic (originally scheduled for June), and the University getting two separate donations totaling $1.25 million for “doing the right thing”.
A sad situation.
Friday, February 17, 2012
Will Benton County Finally Become “Wet?”
A new effort is underway to give voters an opportunity to decide the question of whether to make Benton County "wet."
The petition will require signatures equal to 38% of the voters in the most recent general election. In Benton County that means nearly 40,000 valid signatures. That is a huge number and is the biggest reason why voters have not had the opportunity to vote on the question since 1944.
The difference this time around is money, organization, experience and the support of some members of the Walton family. An experienced professional firm has been hired to gather the signatures, which must be turned in to the county clerk’s office by August 28.
I’m all for it and while I respect differing opinions, I think the overwhelming majority of residents will agree the time has come.
The backers, with good reason, are calling their initiative “Keep Dollars in Benton County.” The economic benefits of going “wet” are far reaching. In addition to the direct sales tax revenue to the county and the resulting trickle-down effect, it would place the county more favorably in the minds of prospective businesses and visitors alike.
Locals know how to overcome the lack of packaged liquor stores in Benton County. They drive a few miles to Washington County or McDonald County, Missouri. Those counties are more than happy to have thriving businesses within their borders that send sales tax receipts to their local county governments. I’d be willing to bet businesses in these counties will be in direct opposition to Benton County going “wet.”
Arkansas liquor laws are arcane, outdated, even ludicrous in many respects. Some restaurants become "private clubs". Those who purchase a permit and serve food can serve alcoholic drinks to their members – and any adult can become a member by simply signing their name in a register. But restaurants per se cannot serve alcoholic beverages.
Just think of the huge number of people who will come specifically to visit the beautiful Crystal Bridges Museum of American Art. My guess is most will find it amazing and disappointing that they cannot have wine or a cocktail with dinner.
If I lived in Benton County, my vote would be a definite yes.
For more details on this, click here.
The petition will require signatures equal to 38% of the voters in the most recent general election. In Benton County that means nearly 40,000 valid signatures. That is a huge number and is the biggest reason why voters have not had the opportunity to vote on the question since 1944.
The difference this time around is money, organization, experience and the support of some members of the Walton family. An experienced professional firm has been hired to gather the signatures, which must be turned in to the county clerk’s office by August 28.
I’m all for it and while I respect differing opinions, I think the overwhelming majority of residents will agree the time has come.
The backers, with good reason, are calling their initiative “Keep Dollars in Benton County.” The economic benefits of going “wet” are far reaching. In addition to the direct sales tax revenue to the county and the resulting trickle-down effect, it would place the county more favorably in the minds of prospective businesses and visitors alike.
Locals know how to overcome the lack of packaged liquor stores in Benton County. They drive a few miles to Washington County or McDonald County, Missouri. Those counties are more than happy to have thriving businesses within their borders that send sales tax receipts to their local county governments. I’d be willing to bet businesses in these counties will be in direct opposition to Benton County going “wet.”
Arkansas liquor laws are arcane, outdated, even ludicrous in many respects. Some restaurants become "private clubs". Those who purchase a permit and serve food can serve alcoholic drinks to their members – and any adult can become a member by simply signing their name in a register. But restaurants per se cannot serve alcoholic beverages.
Just think of the huge number of people who will come specifically to visit the beautiful Crystal Bridges Museum of American Art. My guess is most will find it amazing and disappointing that they cannot have wine or a cocktail with dinner.
If I lived in Benton County, my vote would be a definite yes.
For more details on this, click here.
Monday, January 02, 2012
Crystal Bridges Museum of American Art put Bentonville on Travel and Leisure's Top Travel Destinations List
You don’t have to make an appointment any more to visit Crystal Bridges. I found that out recently, when I visited for the first time with my artist/musician son who was home for the holidays. And it’s a wonderful place.
Crystal Bridges Museum of American Art is a treat for the senses. There are so many wonderful works of art that I can’t begin to cover them all in my blog, but I hope to pique your interest.
Just to know our little corner of the world is home to this beautiful museum is enough to make us all proud. The brainchild of Alice Walton, longtime art collector and daughter of Wal-Mart founder Sam Walton, created much controversy when she announced her plans in 2005. Some of the so-called ‘upper crust’ in art circles were aghast that major works would be somehow ‘lost’ in the Midwest.
The art is far from lost! It is alive and well and displayed in a work of art itself. The 201,000-square-foot museum, designed by the famed architect Moshe Safdie, is set beautifully into natural surroundings. Visitors will find eight linked pavilions bordering two large pools, which are fed by Crystal Spring. The architecture alone would be worth the trip even if it didn’t contain this marvelous collection of art from colonial to contemporary times. The pools are still in the process of being filled, however.
Even a brief glance at the list of art included within the collection shows there is something for everyone: Rosie the Riveter by Norman Rockwell, Asher B. Durand's Kindred Spirits, Maxfield Parrish's The Lantern Bearers, and Andy Warhol’s Dolly Parton. The “Rosie” work is not the famous one that everyone usually sees, however. It’s a different one.
There are eight trails on the wooded 120-acre property. I can’t wait to see dogwood trail in the spring! Also located outside is the sculpture garden.
Some of the educational offerings will include Skyspace Discussions, Shifting Perspectives with Nature, and Wonder World. Wonder World has some really interesting contemporary stuff, including a version of the Last Supper made entirely of spools of thread.
Perhaps one of the most outstanding offerings at the museum is the price of admission. Admission is totally free thanks to a $20 million donation by Wal-Mart Corporation.
Wal-Mart Family Foundation has pledged $800 million towards acquisitions, operations, and capital improvements, not to mention additional monies towards initial construction. Local philanthropists have also made additional generous donations.
This huge endowment puts it on a par with Museum of Modern Art in New York City.
Crystal Bridges Museum of American Art is already creating buzz in travel circles. Travel and Leisure.com lists it as one of the top destinations in 2012. The biggest buzz, of course, is among art lovers in the U.S. as well as overseas. It is such a huge boost to the art scene in NW Arkansas as well as local artists and aspiring artists everywhere.
I can’t sing too many praises about Crystal Bridges of American Art and its effects on the local economy. New businesses have already opened. A sparkling new hotel, 21c Museum Hotel, plans to open in January 2013. It will be similar to the original 21c in Louisville. Out-of-state visitors have already arrived and many more are coming.
You simply must go. If you’ve already been, go again. That’s what my friends and I plan to do. Just don’t go on Tuesdays. That is the one day each week when the museum is closed.
For more information visit the Crystal Bridges Website.
And here are a few informational newspaper articles from Arkansas Business, the New York Times, NY Times Travel Section, and Travel and Leisure magazine. For a great picture of the museum, click here.
Crystal Bridges Museum of American Art is a treat for the senses. There are so many wonderful works of art that I can’t begin to cover them all in my blog, but I hope to pique your interest.
Just to know our little corner of the world is home to this beautiful museum is enough to make us all proud. The brainchild of Alice Walton, longtime art collector and daughter of Wal-Mart founder Sam Walton, created much controversy when she announced her plans in 2005. Some of the so-called ‘upper crust’ in art circles were aghast that major works would be somehow ‘lost’ in the Midwest.
The art is far from lost! It is alive and well and displayed in a work of art itself. The 201,000-square-foot museum, designed by the famed architect Moshe Safdie, is set beautifully into natural surroundings. Visitors will find eight linked pavilions bordering two large pools, which are fed by Crystal Spring. The architecture alone would be worth the trip even if it didn’t contain this marvelous collection of art from colonial to contemporary times. The pools are still in the process of being filled, however.
Even a brief glance at the list of art included within the collection shows there is something for everyone: Rosie the Riveter by Norman Rockwell, Asher B. Durand's Kindred Spirits, Maxfield Parrish's The Lantern Bearers, and Andy Warhol’s Dolly Parton. The “Rosie” work is not the famous one that everyone usually sees, however. It’s a different one.
There are eight trails on the wooded 120-acre property. I can’t wait to see dogwood trail in the spring! Also located outside is the sculpture garden.
Some of the educational offerings will include Skyspace Discussions, Shifting Perspectives with Nature, and Wonder World. Wonder World has some really interesting contemporary stuff, including a version of the Last Supper made entirely of spools of thread.
Perhaps one of the most outstanding offerings at the museum is the price of admission. Admission is totally free thanks to a $20 million donation by Wal-Mart Corporation.
Wal-Mart Family Foundation has pledged $800 million towards acquisitions, operations, and capital improvements, not to mention additional monies towards initial construction. Local philanthropists have also made additional generous donations.
This huge endowment puts it on a par with Museum of Modern Art in New York City.
Crystal Bridges Museum of American Art is already creating buzz in travel circles. Travel and Leisure.com lists it as one of the top destinations in 2012. The biggest buzz, of course, is among art lovers in the U.S. as well as overseas. It is such a huge boost to the art scene in NW Arkansas as well as local artists and aspiring artists everywhere.
I can’t sing too many praises about Crystal Bridges of American Art and its effects on the local economy. New businesses have already opened. A sparkling new hotel, 21c Museum Hotel, plans to open in January 2013. It will be similar to the original 21c in Louisville. Out-of-state visitors have already arrived and many more are coming.
You simply must go. If you’ve already been, go again. That’s what my friends and I plan to do. Just don’t go on Tuesdays. That is the one day each week when the museum is closed.
For more information visit the Crystal Bridges Website.
And here are a few informational newspaper articles from Arkansas Business, the New York Times, NY Times Travel Section, and Travel and Leisure magazine. For a great picture of the museum, click here.
Friday, October 14, 2011
Craft Fair Weekend in NW Arkansas
It's a little late--I forgot all about it. But this weekend is one of those weekends that you either want to get out to all of the craft fairs or stay home to avoid the traffic.
It used to just be War Eagle, but now there are many venues. Here are some of them:
Bella Vista Arts & Crafts Festival
8-5 Friday and Saturday, 1991 Forest Hills Blvd in Bella Vista
Info: 479-855-2064 or www.BellaVistaFestival.org
Spanker Creek Farm Arts & Crafts Show
8-5 Friday and Saturday, 9-4 Sunday, 8464 W. McNelly Rd, Approximately 1/2 mile east of Walgreens and Lowe's in Bentonville
Info: 479-685-5655 or www.spankercreekfarm.com
War Eagle Mill Arts & Crafts Fair
8-5:30 Friday and Saturday, 8-4:30 Sunday, 11045 War Eagle Road near Rogers
Info: 866-492-7324 or www.wareaglemill.com
War Eagle Fair
8-5 Friday and Saturday, 8-4 Sunday, War Eagle Mills Farm near Rogers
Info: www.wareaglefair.com
Sharp's Show of War Eagle
8-5 Friday and Saturday, 8-4 Sunday, Adjacent to War Eagle Mill near Rogers
Info: 479-789-5683
Frisco Station Mall Arts & Crafts Festival
10-9 Friday and Saturday, 11-4 Sunday, Frisco Station Mall in Rogers
Info: 479-631-0006
Northwest Medical Auxiliary Arts & Crafts Fair
9-6 Friday and Saturday, The Jones Center in Springdale
Info: 479-756-8090 or www. thejonescenter.org
Ozark Regional Arts and Crafts Festivals
9-9 Friday and Saturday, NW Arkansas Convention Center in Springdale at 1500 S. 48th St. and the Embassy Suite Convention Center in Rogers at 3303 Pinnacle Hills Parkway
Info: 479-756-6954
Fall Craft Extravaganza
7-2 Saturday, 9-2 Sunday, Fayetteville Square
Info: 479-236-2910 or www.fayettevillefarmersmarket.org
It used to just be War Eagle, but now there are many venues. Here are some of them:
Bella Vista Arts & Crafts Festival
8-5 Friday and Saturday, 1991 Forest Hills Blvd in Bella Vista
Info: 479-855-2064 or www.BellaVistaFestival.org
Spanker Creek Farm Arts & Crafts Show
8-5 Friday and Saturday, 9-4 Sunday, 8464 W. McNelly Rd, Approximately 1/2 mile east of Walgreens and Lowe's in Bentonville
Info: 479-685-5655 or www.spankercreekfarm.com
War Eagle Mill Arts & Crafts Fair
8-5:30 Friday and Saturday, 8-4:30 Sunday, 11045 War Eagle Road near Rogers
Info: 866-492-7324 or www.wareaglemill.com
War Eagle Fair
8-5 Friday and Saturday, 8-4 Sunday, War Eagle Mills Farm near Rogers
Info: www.wareaglefair.com
Sharp's Show of War Eagle
8-5 Friday and Saturday, 8-4 Sunday, Adjacent to War Eagle Mill near Rogers
Info: 479-789-5683
Frisco Station Mall Arts & Crafts Festival
10-9 Friday and Saturday, 11-4 Sunday, Frisco Station Mall in Rogers
Info: 479-631-0006
Northwest Medical Auxiliary Arts & Crafts Fair
9-6 Friday and Saturday, The Jones Center in Springdale
Info: 479-756-8090 or www. thejonescenter.org
Ozark Regional Arts and Crafts Festivals
9-9 Friday and Saturday, NW Arkansas Convention Center in Springdale at 1500 S. 48th St. and the Embassy Suite Convention Center in Rogers at 3303 Pinnacle Hills Parkway
Info: 479-756-6954
Fall Craft Extravaganza
7-2 Saturday, 9-2 Sunday, Fayetteville Square
Info: 479-236-2910 or www.fayettevillefarmersmarket.org
Thursday, October 13, 2011
Now is the Perfect Time to Buy a Home in NW Arkansas
Here’s a very brief look at the current housing scene in NW Arkansas…
If you are a buyer, the opportunities are phenomenal right now. Mortgage rates are at historic lows and by historic I don’t mean the past 10 or 20 years. I mean interest rates have never, ever been this low, at least since they’ve been keeping track.
Even a couple of years ago, no one ever thought possible such rates as 3.5% on at 15-year fixed-rate mortgage or 4.25% for a 30-year fixed rate mortgage. This is simply fantastic for anyone looking to purchase a home and those rates are available right here in NW Arkansas.
The other truly bright spot is the average cost per square foot continues to drop. In fact, prices are back to 2004 levels. I realize this is terrible news for sellers but what a fantastic opportunity for buyers.
Even when home prices were this low in 2004 or thereabouts, interest rates were much higher.
So right now, you could say this is a “perfect storm” situation for buyers.
Apparently many people are taking note of this. Sales of homes in NW Arkansas rose approximately 20% compared to this time last year.
As a Certified Residential Specialist, I am ready, willing and able to help you take advantage of this great buyer’s market. Call me at 479-966-0435.
For more information:
Ozarks Unbound Blog
Arkansas Business-1
Arkansas Business-2
Arvest Bank
If you are a buyer, the opportunities are phenomenal right now. Mortgage rates are at historic lows and by historic I don’t mean the past 10 or 20 years. I mean interest rates have never, ever been this low, at least since they’ve been keeping track.
Even a couple of years ago, no one ever thought possible such rates as 3.5% on at 15-year fixed-rate mortgage or 4.25% for a 30-year fixed rate mortgage. This is simply fantastic for anyone looking to purchase a home and those rates are available right here in NW Arkansas.
The other truly bright spot is the average cost per square foot continues to drop. In fact, prices are back to 2004 levels. I realize this is terrible news for sellers but what a fantastic opportunity for buyers.
Even when home prices were this low in 2004 or thereabouts, interest rates were much higher.
So right now, you could say this is a “perfect storm” situation for buyers.
Apparently many people are taking note of this. Sales of homes in NW Arkansas rose approximately 20% compared to this time last year.
As a Certified Residential Specialist, I am ready, willing and able to help you take advantage of this great buyer’s market. Call me at 479-966-0435.
For more information:
Ozarks Unbound Blog
Arkansas Business-1
Arkansas Business-2
Arvest Bank
Friday, September 23, 2011
Bikes, Blues & BBQ Rally is Bigger Than Ever
Get ready for an even bigger and better Bikes, Blues and Barbecue Rally in NW Arkansas this year. Each year since inception in 2000, the rally has added more of everything. The growth has been phenomenal in just a few short years.
The fun begins next week--Wednesday, September 28 and doesn’t slow down until midnight October 1.
Hundreds of thousands of people flock each year to a number of venues in Fayetteville. This year the Rally will expand to include two days of events at Parsons Arena in Springdale.
There will be motocross, professional and amateur racing, Harley-Davidson Village, Parade of Power on Saturday, music, food, plenty of vendors, BBQ competition, Miss BBQ competition and way more.
The best parts of all are it’s good family fun and all proceeds go to local charities such as Big Brothers Big Sisters, Meals on Wheels, Horses for Healing, CASA, Peace at Home Shelter, and many others.
More than $600,000 has been donated so far.
Let’s all go have fun for a good cause.
For more information, check the BBBQ website.
The fun begins next week--Wednesday, September 28 and doesn’t slow down until midnight October 1.
Hundreds of thousands of people flock each year to a number of venues in Fayetteville. This year the Rally will expand to include two days of events at Parsons Arena in Springdale.
There will be motocross, professional and amateur racing, Harley-Davidson Village, Parade of Power on Saturday, music, food, plenty of vendors, BBQ competition, Miss BBQ competition and way more.
The best parts of all are it’s good family fun and all proceeds go to local charities such as Big Brothers Big Sisters, Meals on Wheels, Horses for Healing, CASA, Peace at Home Shelter, and many others.
More than $600,000 has been donated so far.
Let’s all go have fun for a good cause.
For more information, check the BBBQ website.
Tuesday, September 06, 2011
Here We Go Again – Another “Best Places” Award for Fayetteville
Another honor for Fayetteville, this time by Southern Living Magazine. This time for being one of the best college towns in the nation.
Fayetteville has been recognized repeatedly by Kiplinger Magazine, U.S. News & World Report, Sperling’s Best Places, Forbes and others.
Southern Living took a different perspective for their rankings. Their report focused on best college towns. They excluded towns with populations over 200,000 because they were looking for towns where the colleges/universities provided a very strong impact on the town’ standard of living and economies.
Thus it is no surprise to see Fayetteville ranked #17 overall. Our city offers a lively social scene with support of the arts, affordable and attractive restaurants, and many independent shops with everything students want.
Other factors Southern Living found positive about Fayetteville are a dedicated and active alumni base and good old-fashioned Southern charm.
I’m always happy to see prestigious organizations recognize the many positive aspects of living in NW Arkansas.
Fayetteville has been recognized repeatedly by Kiplinger Magazine, U.S. News & World Report, Sperling’s Best Places, Forbes and others.
Southern Living took a different perspective for their rankings. Their report focused on best college towns. They excluded towns with populations over 200,000 because they were looking for towns where the colleges/universities provided a very strong impact on the town’ standard of living and economies.
Thus it is no surprise to see Fayetteville ranked #17 overall. Our city offers a lively social scene with support of the arts, affordable and attractive restaurants, and many independent shops with everything students want.
Other factors Southern Living found positive about Fayetteville are a dedicated and active alumni base and good old-fashioned Southern charm.
I’m always happy to see prestigious organizations recognize the many positive aspects of living in NW Arkansas.
Saturday, July 30, 2011
Crystal Bridges Museum to be Free To All – Forever
What a wonderful gift! The Crystal Bridges Museum of American Art in Bentonville promises to be a premier destination for people from all walks of life and now, thanks to an endowment from Wal-Mart Stores, Inc., it will be free to all visitors.
Northwest Arkansas is a remarkable place to live, but most of the cultural events have been centered in Fayetteville with concerts and other events associated with the University and the Walton Arts Center. Then Alice Walton, only daughter of Wal-Mart founder Sam Walton, announced plans to build a major art museum in Bentonville, Arkansas.
The grounds and exterior of the buildings are extraordinary. I’ve seen the plans and 3-D models and I look forward to seeing them come to life. Many of the acquisitions of American art made so far are formidable, and the collection continues to grow.
For some people, seeing the exterior is perhaps all they could afford. With that in mind, Wal-Mart Stores, Inc., has announced a $20 million endowment to the museum, which will allow free admission to all visitors in perpetuity. Indeed, Wal-Mart’s $20 million gift is a gift to us all.
In addition to Ms. Walton’s personal backing, the Walton Family Foundation recently pledged an $800 million endowment for acquisitions, operations, and future capital improvements. That gift is probably one of the largest ever to an American museum.
So mark your calendars. The grand opening is scheduled for 11-11-11 (November 11, 2011.) I wouldn’t necessarily recommend trying to visit on opening day, but do plan to go at your convenience. It will be worth your time.
In an era where the arts nationwide have repeatedly hit the budget chopping block, a gift like this assures a continuing contribution to the quality of life of NW Arkansas. The museum will expand cultural and economic development not only in Bentonville but also throughout the area. What an opportunity for us all.
For more information about the endowment, click here. The Crystal Bridges website has more information about the building, grounds, collection and programs.
Northwest Arkansas is a remarkable place to live, but most of the cultural events have been centered in Fayetteville with concerts and other events associated with the University and the Walton Arts Center. Then Alice Walton, only daughter of Wal-Mart founder Sam Walton, announced plans to build a major art museum in Bentonville, Arkansas.
The grounds and exterior of the buildings are extraordinary. I’ve seen the plans and 3-D models and I look forward to seeing them come to life. Many of the acquisitions of American art made so far are formidable, and the collection continues to grow.
For some people, seeing the exterior is perhaps all they could afford. With that in mind, Wal-Mart Stores, Inc., has announced a $20 million endowment to the museum, which will allow free admission to all visitors in perpetuity. Indeed, Wal-Mart’s $20 million gift is a gift to us all.
In addition to Ms. Walton’s personal backing, the Walton Family Foundation recently pledged an $800 million endowment for acquisitions, operations, and future capital improvements. That gift is probably one of the largest ever to an American museum.
So mark your calendars. The grand opening is scheduled for 11-11-11 (November 11, 2011.) I wouldn’t necessarily recommend trying to visit on opening day, but do plan to go at your convenience. It will be worth your time.
In an era where the arts nationwide have repeatedly hit the budget chopping block, a gift like this assures a continuing contribution to the quality of life of NW Arkansas. The museum will expand cultural and economic development not only in Bentonville but also throughout the area. What an opportunity for us all.
For more information about the endowment, click here. The Crystal Bridges website has more information about the building, grounds, collection and programs.
Saturday, July 16, 2011
Savings for Everyone August 6-7—Sales Tax Holiday
Everyone enjoys a nice holiday. The word holiday evokes family gatherings, perhaps a paid day off from work, or a trip to see grandma (or the grand kids).
How about a holiday from sales taxes on everyday items? This is a holiday unlike all others. It’s a real break for families.
For 48 hours, beginning 12:01 a.m. August 6th and ending at 12:00 p.m. August 7th, state and local taxes will not be collected on a long list of items families normally buy, especially for school. For example, all clothing costing less than $100 per item will be exempt from any sales tax. Accessories and equipment costing less than $50 per item will also be exempt. I would venture a guess that not many families are planning to buy articles of clothing costing more than $100 each.
The Arkansas Legislature passed this law in 2011 as a way to keep shoppers from going to neighboring states to take advantage of sales tax holidays there, especially at get-ready-for-back-to-school shopping.
I think this break was long overdue. Families can now do their shopping at Arkansas merchants and save gasoline at the same time.
The list of items exempt from sales tax on August 6-7 is quite generous. It includes most every normal school need you can think of: books, binders, book bags, pens, calculators, notebooks, lunchboxes, and even certain art supplies. Of course, textbooks, maps and reference materials are also included.
Many items not usually associated with back to school needs are also exempt from sales taxes on the holiday. I’ve previously mentioned items of clothing less than $100 each. The tax-exempt items include accessories such as cosmetics, wigs, wallets and purses, jewelry and watches, belts, umbrellas, and more. Accessories are limited to items costing less that $50 each.
The sales tax holiday is such a boon for average people. Between state and local taxes, most of us in NW Arkansas pay 9.25% sales tax on every item listed above. The easiest way to comprehend the savings is to round the tax to 10%. If you spend $100 on the holiday weekend, you save $10 in tax. If your local store were offering a 10% discount, people would be lining up to take advantage of the sale.
It’s interesting to note the list of tax-exempt items includes things most of us would probably overlook when getting ready for back-to-school shopping. I would not have thought about diapers, receiving blankets, swimsuits, uniforms and neckties.
So mark your calendars now for big savings August 6-7. It’s the only weekend all year where you can have a tax-free holiday.
For more information, click here.
How about a holiday from sales taxes on everyday items? This is a holiday unlike all others. It’s a real break for families.
For 48 hours, beginning 12:01 a.m. August 6th and ending at 12:00 p.m. August 7th, state and local taxes will not be collected on a long list of items families normally buy, especially for school. For example, all clothing costing less than $100 per item will be exempt from any sales tax. Accessories and equipment costing less than $50 per item will also be exempt. I would venture a guess that not many families are planning to buy articles of clothing costing more than $100 each.
The Arkansas Legislature passed this law in 2011 as a way to keep shoppers from going to neighboring states to take advantage of sales tax holidays there, especially at get-ready-for-back-to-school shopping.
I think this break was long overdue. Families can now do their shopping at Arkansas merchants and save gasoline at the same time.
The list of items exempt from sales tax on August 6-7 is quite generous. It includes most every normal school need you can think of: books, binders, book bags, pens, calculators, notebooks, lunchboxes, and even certain art supplies. Of course, textbooks, maps and reference materials are also included.
Many items not usually associated with back to school needs are also exempt from sales taxes on the holiday. I’ve previously mentioned items of clothing less than $100 each. The tax-exempt items include accessories such as cosmetics, wigs, wallets and purses, jewelry and watches, belts, umbrellas, and more. Accessories are limited to items costing less that $50 each.
The sales tax holiday is such a boon for average people. Between state and local taxes, most of us in NW Arkansas pay 9.25% sales tax on every item listed above. The easiest way to comprehend the savings is to round the tax to 10%. If you spend $100 on the holiday weekend, you save $10 in tax. If your local store were offering a 10% discount, people would be lining up to take advantage of the sale.
It’s interesting to note the list of tax-exempt items includes things most of us would probably overlook when getting ready for back-to-school shopping. I would not have thought about diapers, receiving blankets, swimsuits, uniforms and neckties.
So mark your calendars now for big savings August 6-7. It’s the only weekend all year where you can have a tax-free holiday.
For more information, click here.
Sunday, July 10, 2011
Help the Bride and Groom Buy a House: FHA Bridal Registry
It’s too late for the June weddings, but maybe for those getting married in July and August and beyond this would be a possibility. I just found out about a really nifty way to help those about to be married purchase a home—establish a Bridal Registry account for their down-payment.
This novel idea has been around since the ‘90s but has received little publicity. A part of the FHA Bridal Registry Gift Funds program, all approved FHA lenders are automatically eligible to participate .
Here’s what the Bride and Groom need to do:
• Open a savings account named "Bridal Registry Account” at your bank prior to the wedding.
• Give the account information to friends and family who make deposits on your behalf.
• The entire gift funds can go towards the FHA required 3.5% down payment.
• If someone gives you a monetary gift directly, you can deposit the funds in the account.
More good news:
• You do not have to married prior to closing date.
• You do not have to provide FHA with any documentation other than proof of the "Bridal Registry Account.”
• This does not have to be your first home purchase.
• If you decide to not buy a home, you may withdraw the funds to use as you like with no penalty.
Without a "Bridal Registry Account,” the FHA normally requires a gift letter and certification of the source of funds for your down payment. With the account, your documentation is greatly simplified.
This program can be such a boon to couples as they start out in life. In addition to helping them acquire the funds to buy a home, it eliminates the consequences of receiving duplicate or unwanted gifts.
If you know folks who are planning to marry, pass this information along to them. Now we just have to find a lender who is knowledgeable about the program and who can help set up accounts.
For more information, click here:
This novel idea has been around since the ‘90s but has received little publicity. A part of the FHA Bridal Registry Gift Funds program, all approved FHA lenders are automatically eligible to participate .
Here’s what the Bride and Groom need to do:
• Open a savings account named "Bridal Registry Account” at your bank prior to the wedding.
• Give the account information to friends and family who make deposits on your behalf.
• The entire gift funds can go towards the FHA required 3.5% down payment.
• If someone gives you a monetary gift directly, you can deposit the funds in the account.
More good news:
• You do not have to married prior to closing date.
• You do not have to provide FHA with any documentation other than proof of the "Bridal Registry Account.”
• This does not have to be your first home purchase.
• If you decide to not buy a home, you may withdraw the funds to use as you like with no penalty.
Without a "Bridal Registry Account,” the FHA normally requires a gift letter and certification of the source of funds for your down payment. With the account, your documentation is greatly simplified.
This program can be such a boon to couples as they start out in life. In addition to helping them acquire the funds to buy a home, it eliminates the consequences of receiving duplicate or unwanted gifts.
If you know folks who are planning to marry, pass this information along to them. Now we just have to find a lender who is knowledgeable about the program and who can help set up accounts.
For more information, click here:
Friday, July 01, 2011
Housing Shortage -- Are You Kidding Me?
Can you wrap your mind around a possible housing shortage in the next decade? For the most part all we hear are statements of doom and gloom. You know what I mean: “Foreclosure rate remains high,” or “Another builder has gone bankrupt,” or “Home prices slip again.”
Indeed, the real estate market in general has taken a beating since the economy began to tank a few years ago. When unemployment began to climb, people were forced to change their living arrangements. Many young people continued to live with their parents instead of buying starter homes. Many older folks stayed in homes that no longer had mortgages. Still another group whose homes had been foreclosed were forced into rentals.
With housing inventories at all time highs, many builders stopped building new homes.
Now that the economic picture is getting brighter and interest rates on mortgages are very, very low, the cycle is beginning to turn.
A recent study from Harvard University indicates demand will call for 16 million new homes during the next 10 years. The demand will be fueled by increases in population and immigration, young folks looking for their first home, baby boomers wanting to downsize, and demand for second homes.
Rent prices have increased and if that trend continues, as seems likely, more renters will return to home ownership.
So, the demand for so many homes does seem possible, maybe not right away, but don't discount the possibility.
Click here for more information.
Indeed, the real estate market in general has taken a beating since the economy began to tank a few years ago. When unemployment began to climb, people were forced to change their living arrangements. Many young people continued to live with their parents instead of buying starter homes. Many older folks stayed in homes that no longer had mortgages. Still another group whose homes had been foreclosed were forced into rentals.
With housing inventories at all time highs, many builders stopped building new homes.
Now that the economic picture is getting brighter and interest rates on mortgages are very, very low, the cycle is beginning to turn.
A recent study from Harvard University indicates demand will call for 16 million new homes during the next 10 years. The demand will be fueled by increases in population and immigration, young folks looking for their first home, baby boomers wanting to downsize, and demand for second homes.
Rent prices have increased and if that trend continues, as seems likely, more renters will return to home ownership.
So, the demand for so many homes does seem possible, maybe not right away, but don't discount the possibility.
Click here for more information.
Saturday, May 28, 2011
Extreme Weather and the Housing Market
The awful weather throughout southern U.S. has affected so many lives with devastating results--tornadoes, extremely heavy rains, flooding, hail and associated miseries of all kinds. Just a week ago the tornado in Joplin, Missouri caused at least 135 deaths. And other tornados affected communities in central Arkansas.
Such extreme weather also causes indirect damage to the housing market. It is next to impossible to show homes in such threatening conditions. If any good can be found at all, it’s that heavy rain clearly illustrates which properties are subject to flooding.
The latest reports shows sales of homes in Arkansas down 23% in April compared to April 2010.
In Benton County, sales were down 18% with 303 homes sold vs. 371 in April last year.
Washington County results were similar: sales down 19% with 205 homes sold vs. 254 last year.
Results do vary by town, however. Although Benton County as a whole experienced fewer sales, in Bentonville itself, sales were up in April compared to last year: 72 compared to 67 last year, according to the NW Arkansas MLS. Similarly Rogers had the same number of sales both years in April—98.
For Fayetteville, 108 homes were sold last year in April compared to only 82 this year. And Springdale was also down significantly, 115 homes sold last year in April compared to 98 this year.
But we must remember that due to government tax credits for home purchases in the early months of 2010, April had more home closings that any other month last year.
The housing market in NW Arkansas does exhibit seasonal characteristics—more sales in the spring and summer, fewer in the winter. And although the lower sales in April this year have not all been weather-driven, it is often a factor. I am hoping for some calm, comfortable weather soon. So far, 2011 has been breaking the weather records.
Click for More information
Such extreme weather also causes indirect damage to the housing market. It is next to impossible to show homes in such threatening conditions. If any good can be found at all, it’s that heavy rain clearly illustrates which properties are subject to flooding.
The latest reports shows sales of homes in Arkansas down 23% in April compared to April 2010.
In Benton County, sales were down 18% with 303 homes sold vs. 371 in April last year.
Washington County results were similar: sales down 19% with 205 homes sold vs. 254 last year.
Results do vary by town, however. Although Benton County as a whole experienced fewer sales, in Bentonville itself, sales were up in April compared to last year: 72 compared to 67 last year, according to the NW Arkansas MLS. Similarly Rogers had the same number of sales both years in April—98.
For Fayetteville, 108 homes were sold last year in April compared to only 82 this year. And Springdale was also down significantly, 115 homes sold last year in April compared to 98 this year.
But we must remember that due to government tax credits for home purchases in the early months of 2010, April had more home closings that any other month last year.
The housing market in NW Arkansas does exhibit seasonal characteristics—more sales in the spring and summer, fewer in the winter. And although the lower sales in April this year have not all been weather-driven, it is often a factor. I am hoping for some calm, comfortable weather soon. So far, 2011 has been breaking the weather records.
Click for More information
Saturday, May 14, 2011
Housing Sector Still Struggles, But Some Bright Spots Appear
On Friday I went to the Quarterly Business Analysis Breakfast sponsored by the U of A Center for Business and Economic Research. I like to go to these events because usually Kathy Deck, the director of the Center, gives incisive and informative economic data about Arkansas as a whole and NW Arkansas in particular. This usually confirms and explains what I see on a day-to-day basis as a real estate agent in the trenches.
Her presentation on Friday was basically positive, compared with previous meetings. The economy is getting better, according to the indicators she talked about--measures like GDP growth, Consumer Sentiment, Inflation, Unemployment, Job Growth, and the like.
The key to the real estate market in NW Arkansas is employment, and it appears that we're ahead of the curve compared to the rest of the state and to the US as a whole. If we don't have jobs, people will not want to move here. And if we don't have jobs, even people already here won't be able to buy a house. Increased employment will bring more home sales in the short term, as will seasonal factors.
But the construction sector will not lead economic growth in the near future according to Deck, rather it will follow it. And the tax credit of last year is long-since past. In addition, there is a large inventory of homes on the market, not to mention a full pipeline of foreclosures. These will continue to put downward pressure on prices.
The housing situation may be a bit brighter for some. It depends largely on an individual’s financial status, goals, and whether he is buying or selling. Home affordability in NW Arkansas, as well as nationwide is higher than it has been for a long time. And interest rates remain very low.
Nationwide the glut of unsold houses on the market is shrinking and absorption is occurring. No matter who you are, that is good news. But the glut (including foreclosures) has to be sold off before prices can stabilize. Prices will not begin to rise again until that glut is substantially gone.
Unfortunately, foreclosures are still occurring at a fairly high rate and for a time may even increase once mortgage holders work through the investigations into their sloppy foreclosure practices of the past.
Recent national statistical measures indicate sales are increasing when compared month over preceding month. However, year over year sales are down because sales in the early months of 2010 were artificially higher due to the homebuyer’s credit, which expired last June.
In some markets, prices seem to be at or near the bottom and investors are snapping up homes to rent out while they wait for the inevitable price increases.
Meanwhile, renters are feeling the impact from many sides. Owners who lost their homes through foreclosures were forced into the rental market. Builders stopped building new apartments when the economy turned sour. Some older apartment buildings have been torn down while other apartment complexes were turned into condos. More people wanting to rent fewer apartments means higher rents. The sad part is many lower income families are paying as much as 50% of their income on rent and utilities.
The March 2011 interest rate on a 30-year fixed rate mortgage was 4.84% - an excellent rate. But banks and mortgage companies are requiring higher credit ratings and higher ratio of income to monthly mortgage payment. I’m sure this is their response to the ridiculously low standards they used in the past – the standards that caused the whole housing debacle in the first place.
If lenders would return to the ratios that were in place for years before the debacle, more credit worthy borrowers would qualify to buy a home.
As the economy continues to improve, buyers will become more confident about the positive aspects of home ownership. There are already more buyers out looking, and as the spring progresses and the economy continues to improve, this will increase.
The housing sector will probably continue to struggle for awhile yet, but there are bright spots and I am seeing glimpses of more to come.
For more information:
Arkansas Business Journal
RISMEDIA
National Association of Realtors
Washington Post 1
Washington Post 2
Her presentation on Friday was basically positive, compared with previous meetings. The economy is getting better, according to the indicators she talked about--measures like GDP growth, Consumer Sentiment, Inflation, Unemployment, Job Growth, and the like.
The key to the real estate market in NW Arkansas is employment, and it appears that we're ahead of the curve compared to the rest of the state and to the US as a whole. If we don't have jobs, people will not want to move here. And if we don't have jobs, even people already here won't be able to buy a house. Increased employment will bring more home sales in the short term, as will seasonal factors.
But the construction sector will not lead economic growth in the near future according to Deck, rather it will follow it. And the tax credit of last year is long-since past. In addition, there is a large inventory of homes on the market, not to mention a full pipeline of foreclosures. These will continue to put downward pressure on prices.
The housing situation may be a bit brighter for some. It depends largely on an individual’s financial status, goals, and whether he is buying or selling. Home affordability in NW Arkansas, as well as nationwide is higher than it has been for a long time. And interest rates remain very low.
Nationwide the glut of unsold houses on the market is shrinking and absorption is occurring. No matter who you are, that is good news. But the glut (including foreclosures) has to be sold off before prices can stabilize. Prices will not begin to rise again until that glut is substantially gone.
Unfortunately, foreclosures are still occurring at a fairly high rate and for a time may even increase once mortgage holders work through the investigations into their sloppy foreclosure practices of the past.
Recent national statistical measures indicate sales are increasing when compared month over preceding month. However, year over year sales are down because sales in the early months of 2010 were artificially higher due to the homebuyer’s credit, which expired last June.
In some markets, prices seem to be at or near the bottom and investors are snapping up homes to rent out while they wait for the inevitable price increases.
Meanwhile, renters are feeling the impact from many sides. Owners who lost their homes through foreclosures were forced into the rental market. Builders stopped building new apartments when the economy turned sour. Some older apartment buildings have been torn down while other apartment complexes were turned into condos. More people wanting to rent fewer apartments means higher rents. The sad part is many lower income families are paying as much as 50% of their income on rent and utilities.
The March 2011 interest rate on a 30-year fixed rate mortgage was 4.84% - an excellent rate. But banks and mortgage companies are requiring higher credit ratings and higher ratio of income to monthly mortgage payment. I’m sure this is their response to the ridiculously low standards they used in the past – the standards that caused the whole housing debacle in the first place.
If lenders would return to the ratios that were in place for years before the debacle, more credit worthy borrowers would qualify to buy a home.
As the economy continues to improve, buyers will become more confident about the positive aspects of home ownership. There are already more buyers out looking, and as the spring progresses and the economy continues to improve, this will increase.
The housing sector will probably continue to struggle for awhile yet, but there are bright spots and I am seeing glimpses of more to come.
For more information:
Arkansas Business Journal
RISMEDIA
National Association of Realtors
Washington Post 1
Washington Post 2
Friday, April 22, 2011
Taxes – A Fact of Life in NW Arkansas as Elsewhere
Just as the deadline for filing income taxes passed, counties started mailing out property tax bills for real estate and personal property. Individuals as well as businesses are subject to property tax.
There are a few changes this year – designed to make paying taxes a bit easier. The deadline has been October 10th for several years. The state legislature decided that changing the deadline to October 15th would help people remember it better. We all have April 15th imprinted on our brains so I guess now we can add another permanent mark there for October 15th.
The other change allows owners to pay their taxes in installments. People can pay any or all tax due at any time between the first business day in March and October 15th. There is no limit to the number of payments that can be made. This is helpful for people who would rather pay as they go, perhaps monthly, than to be hit with the whole amount due at one time.
Arkansas has a couple of quirks in its tax code and these sometimes cause problems for new residents and even some large businesses with home offices elsewhere.
For example, property owners must call or visit the appropriate county assessor each year between January 2 and May 31. At that time, they “assess” their property – meaning to make it known to the assessor that they own or lease items subject to tax. A wide range of items is considered taxable – cars, trucks, boats, office equipment and furniture, warehouse and manufacturing equipment, and most everything else a business uses. Individuals will soon discover they cannot register their car until it has been assessed.
But there are also quirks that prove highly beneficial to property owners who own the house they live in. Owner/occupiers receive a credit each year of up to the first $350 of property tax.
The other big benefit freezes appraised values of residences where at least one owner is either disabled or over age of 65. Completion of a simple form through the assessor’s office is all that’s required. The freeze results in a property tax that cannot increase due to a higher assessed valuation. The tax can increase only if improvements are made to the property or the millage rate increases.
Disabled veterans can sometimes qualify for no property tax on their residence. This depends on the degree of disability as certified by the Veterans Administration.
And, one more date to remember. July is the usual time of year that people can file protests to their tax bills. Just check with the appropriate county assessor to find out the procedure.
There are a few changes this year – designed to make paying taxes a bit easier. The deadline has been October 10th for several years. The state legislature decided that changing the deadline to October 15th would help people remember it better. We all have April 15th imprinted on our brains so I guess now we can add another permanent mark there for October 15th.
The other change allows owners to pay their taxes in installments. People can pay any or all tax due at any time between the first business day in March and October 15th. There is no limit to the number of payments that can be made. This is helpful for people who would rather pay as they go, perhaps monthly, than to be hit with the whole amount due at one time.
Arkansas has a couple of quirks in its tax code and these sometimes cause problems for new residents and even some large businesses with home offices elsewhere.
For example, property owners must call or visit the appropriate county assessor each year between January 2 and May 31. At that time, they “assess” their property – meaning to make it known to the assessor that they own or lease items subject to tax. A wide range of items is considered taxable – cars, trucks, boats, office equipment and furniture, warehouse and manufacturing equipment, and most everything else a business uses. Individuals will soon discover they cannot register their car until it has been assessed.
But there are also quirks that prove highly beneficial to property owners who own the house they live in. Owner/occupiers receive a credit each year of up to the first $350 of property tax.
The other big benefit freezes appraised values of residences where at least one owner is either disabled or over age of 65. Completion of a simple form through the assessor’s office is all that’s required. The freeze results in a property tax that cannot increase due to a higher assessed valuation. The tax can increase only if improvements are made to the property or the millage rate increases.
Disabled veterans can sometimes qualify for no property tax on their residence. This depends on the degree of disability as certified by the Veterans Administration.
And, one more date to remember. July is the usual time of year that people can file protests to their tax bills. Just check with the appropriate county assessor to find out the procedure.
Monday, April 18, 2011
NW Arkansas’ Unemployment Rate Going Down--Again
I’ve been hearing lately that unemployment figures are going down in NW Arkansas and the country as a whole. Nationwide, the rate for February 2011 was 9.5%.
Northwest Arkansas has had the good fortune all along to have considerably lower unemployment rates and it’s good to know that trend is continuing. Our rate for February 2011 was 6.7%.
The U.S. Department of Labor, Bureau of Labor Statistics, breaks unemployment rates into 372 Metropolitan Statistical Areas. Our MSA, which includes Fayetteville, Springdale, Rogers, and Bentonville, is ranked #43 out of the 372 areas. This is concrete proof that the economy in NW Arkansas is far better than the majority of the country.
Companies are hiring, especially in construction/trade, transportation and utilities sectors. Service sectors, i.e., professional, business, leisure, and hospitality services, also have shrinking unemployment rates. Government services is another area showing recovery.
Rising employment is exactly what’s needed to get the housing market moving again. People will soon rediscover the many good points about living in NW Arkansas.
Perhaps you have family and friends who would appreciate knowing what’s happening here.
Northwest Arkansas has had the good fortune all along to have considerably lower unemployment rates and it’s good to know that trend is continuing. Our rate for February 2011 was 6.7%.
The U.S. Department of Labor, Bureau of Labor Statistics, breaks unemployment rates into 372 Metropolitan Statistical Areas. Our MSA, which includes Fayetteville, Springdale, Rogers, and Bentonville, is ranked #43 out of the 372 areas. This is concrete proof that the economy in NW Arkansas is far better than the majority of the country.
Companies are hiring, especially in construction/trade, transportation and utilities sectors. Service sectors, i.e., professional, business, leisure, and hospitality services, also have shrinking unemployment rates. Government services is another area showing recovery.
Rising employment is exactly what’s needed to get the housing market moving again. People will soon rediscover the many good points about living in NW Arkansas.
Perhaps you have family and friends who would appreciate knowing what’s happening here.
Saturday, April 02, 2011
Fayetteville Square Has Free Wi-Fi Access for the First Day of Farmer’s Market
Today’s the day. Free Wi-Fi Internet access for Fayetteville Square. Cox Communications volunteered to install the transmitters necessary for the interconnected network. Plans were to have everything ready to coincide with the first day of Farmer’s Market today, Saturday, April 2.
I think this is terrific. Many other cities now have publicly sponsored hot spots. It’s nice to think of our quaint downtown Fayetteville Square keeping up with the technology that so many people rely on these days. It wasn’t too many years ago when something like this would have been laughed at as science fiction. Now Fayetteville can offer speedy connections to everyone: vacationers, students, and business people alike.
Just adds to the quality of life in Fayetteville.
I think this is terrific. Many other cities now have publicly sponsored hot spots. It’s nice to think of our quaint downtown Fayetteville Square keeping up with the technology that so many people rely on these days. It wasn’t too many years ago when something like this would have been laughed at as science fiction. Now Fayetteville can offer speedy connections to everyone: vacationers, students, and business people alike.
Just adds to the quality of life in Fayetteville.
Thursday, March 17, 2011
University of Arkansas-Fayetteville Receives More First-Class Recognition
The U of A has just been recognized as being among the top public law schools in the country according to the U.S. News and World Report 2012 edition of America’s Best Graduate Schools. In ranking the School of Law, U. S. News methodology included a peer assessment score as well as assessments by lawyers and judges. Other factors included student/faculty ratio, post-graduation employment rates, and bar exam passage rates.
And the recognition was not limited to the law school. The full-time Master of Business Administration program in the Walton College at U of A was also ranked high, as was the part-time MBA program. Both full-time and part-time programs are listed in the top tier of their categories nationally: full-time program ranked 51st and the part-time program ranked 50th among both private and public institutions.
U.S. News went on to rank U of A’s rehabilitation counseling program in the College of Education and Health Professions as among the top 22 nationally. Specifically, it ranked as #14 among public universities and #16 when private universities are included in the tally.
The industrial engineering graduate program of College of Engineering was also ranked high - 25th among all graduate programs in the country. When compared only with other public universities, its ranking moves up to #18.
All this means that, again, U of A is recognized as top-notch. It’s heartening to see the high quality faculty and students recognized for their hard work and that work translates to meeting the economic, social and education needs of Arkansas at the highest level.
For more information: U of A Newswire
And the recognition was not limited to the law school. The full-time Master of Business Administration program in the Walton College at U of A was also ranked high, as was the part-time MBA program. Both full-time and part-time programs are listed in the top tier of their categories nationally: full-time program ranked 51st and the part-time program ranked 50th among both private and public institutions.
U.S. News went on to rank U of A’s rehabilitation counseling program in the College of Education and Health Professions as among the top 22 nationally. Specifically, it ranked as #14 among public universities and #16 when private universities are included in the tally.
The industrial engineering graduate program of College of Engineering was also ranked high - 25th among all graduate programs in the country. When compared only with other public universities, its ranking moves up to #18.
All this means that, again, U of A is recognized as top-notch. It’s heartening to see the high quality faculty and students recognized for their hard work and that work translates to meeting the economic, social and education needs of Arkansas at the highest level.
For more information: U of A Newswire
Sunday, February 27, 2011
University of Arkansas Earns Highest Ranking from Carnegie Foundation
Good News! U of A has just announced that the Carnegie Foundation for the Advancement of Teaching has upgraded the university’s status to the highest possible rating for research. Prior to the latest announcement, U of A was ranked in the next-highest classification.
For many years, Carnegie Foundation’s rankings have been broadly recognized as the standard categorization of accredited U.S. universities and colleges. Thus, this ranking further enhances U of A’s status and reputation throughout our state, our country and beyond.
The Carnegie Foundation based the classification on data from 2008-2010 in such areas as research expenditures and results, staffing, and doctoral conferrals. After examining 4,633 institutes of higher learning, Carnegie placed U of A in the top group which includes only 108 universities. Within the 108, the Foundation does not rank any one school as better than any other.
A ranking such as this helps in numerous ways – directly and indirectly. It will provide an important boost to recruitment of more top-notch researchers and superior students. As the quantity and quality of U of A’s research projects become increasingly recognized, more research grants will be received. And that means big benefits to NW Arkansas’ economy. Higher salaries equates to greater spending power in all categories from housing to restaurants, to shopping malls and groceries, houses of worship, ad infinitum.
It’s just a circle of good no matter how one looks at it.
I’ve known for some time that U of A programs and courses of study are top notch. I have a master’s in political science from U of A and I’m now taking classes in the Journalism department. The locals have known all along about U of A’s status. It’s a pleasure for me to help spread the good news. At last—it’s not a matter of “thank goodness for Mississippi” any more.
For more information, check the U of A announcement.
For many years, Carnegie Foundation’s rankings have been broadly recognized as the standard categorization of accredited U.S. universities and colleges. Thus, this ranking further enhances U of A’s status and reputation throughout our state, our country and beyond.
The Carnegie Foundation based the classification on data from 2008-2010 in such areas as research expenditures and results, staffing, and doctoral conferrals. After examining 4,633 institutes of higher learning, Carnegie placed U of A in the top group which includes only 108 universities. Within the 108, the Foundation does not rank any one school as better than any other.
A ranking such as this helps in numerous ways – directly and indirectly. It will provide an important boost to recruitment of more top-notch researchers and superior students. As the quantity and quality of U of A’s research projects become increasingly recognized, more research grants will be received. And that means big benefits to NW Arkansas’ economy. Higher salaries equates to greater spending power in all categories from housing to restaurants, to shopping malls and groceries, houses of worship, ad infinitum.
It’s just a circle of good no matter how one looks at it.
I’ve known for some time that U of A programs and courses of study are top notch. I have a master’s in political science from U of A and I’m now taking classes in the Journalism department. The locals have known all along about U of A’s status. It’s a pleasure for me to help spread the good news. At last—it’s not a matter of “thank goodness for Mississippi” any more.
For more information, check the U of A announcement.
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