Fayetteville Arkansas, University of Arkansas--Old Main Overview

Fayetteville Arkansas, University of Arkansas--Old Main Overview
Overview of Fayetteville, AR

Sunday, September 21, 2008

Foreclosures in NW Arkansas

In an effort to bring you current information regarding foreclosures in Benton and Washington Counties, I’ve read enough statistics to make my head spin. I think it all comes down to the old saying, “everything is relative.”

Overall, the Arkansas foreclosure rate ranks right about in the middle. There are 26 states with higher foreclosures rates. The national average is one foreclosure for every 416 homes but the Arkansas rate is ‘only’ one for every 1099 homes.

Four states make everything else look good. Nevada is #1, California #2, Arizona #3, and Florida #4. It’s hard to imagine that 1 in every 91 homes in Nevada has received a foreclosure notice!

In Benton and Washington Counties, the July 2008 rate was closer to the national average - Benton County one for every 418 homes; Washington County – one for every 404 homes.

Arvest Bank took an innovative step to sell approximately 170 properties it had foreclosed on by holding one big auction in early August. Reserves were placed on all but five properties, meaning the bank would have final decision on whether to accept the offer. Arvest has not disclosed final results but in some cases potential buyers and the bank will have an opportunity to renegotiate terms.

Overall, I think it was both a bold move and a good idea. Nothing of that size has been done previously in NW Arkansas or perhaps all of Arkansas. Banks have become saddled with property they never wanted to own and they need to get them off their books.

Foreclosed properties drive down the price of surrounding homes. The sooner they are all sold, the sooner the market can begin to normalize.

For more information:







Saturday, September 13, 2008

Bikes, Blues and BBQ in Fayetteville, Arkansas

It’s that time of year again. Time when a few hundred thousand people will descend on Fayetteville for the 9th Annual Bikes, Blues and BBQ Motorcycle Rally September 24-27.

BB & BBQ bills itself as the largest charitable bike rally in the United States! Last year more than $100,000 was donated to local charities. The rally is self-funded and does not receive any government funding.

BB & BBQ is fun for the whole family. There are the bikes, of course, which are always a sight to see. Entertainment is on various stages afternoons and evenings - much of it free. Plus you won’t want to miss an opportunity to taste some serious cooking during the barbecue cook off competition.

The raffle items this year include a Harley-Davidson Rocker C motorcycle.

Fayetteville Firefighters Association will again host the Poker Run which last year raised almost $9,000 for charity.

Y’all come!

For more information:


Monday, September 08, 2008

No Matter How You Look at it, NW Arkansas is a Great Place to Live!

As the days start getting a little cooler and we move into fall, one of my favorite times of year,
I thought I’d mention that NW Arkansas has been selected yet again as being in the top-ten best places to live, raise a family, work, and retire. Kiplinger Magazine recently published two articles highlighting Fayetteville and the surrounding area.

Of course, Kiplinger isn’t the only authority on the subject. U.S. News & World Report, Sperling’s Best Places, Forbes and others have all placed NW Arkansas in the top ten of their recent surveys. My family and I moved here 15 years ago and we continue to be glad we did.

NW Arkansas has a great reputation, and rightfully so.

Housing is very affordable. Cost of living is low compared to most places. On a scale where 100 is considered ‘average’ for the country, NW Arkansas comes in at a very respectable 90.

Air is clear and clean. The natural beauty of the Ozarks is everywhere. There’s a big push to go ‘green.’ The area is attracting businesses and industries that are not only non-polluting but that also are in the sustainability business. (Think consulting, water purification, packaging, electronics and lighting.)

The climate is moderate during all four seasons. Springtime is gorgeous with flowering dogwoods and redbuds everywhere. Summer is not bad by most standards. As I write this (in mid-August) my windows are open and a gentle breeze is coming in. Autumn is more beautiful here than outsiders imagine. Gold and red leaves color the rolling hillsides, some years more spectacular than others. Winters are generally mild - some snow that usually doesn’t hang around more than a few days. I grew up in northern Minnesota where temperatures of minus 30 degrees are common so I think it’s positively balmy here. I have friends who moved here in 2004 and they have yet to pick up a snow shovel. Of course there are days in summer that I wish were cooler and winter days I wish were warmer, but I’ve said that no matter where I lived.)

Even in these tough times, the economy continues to expand. Unemployment is low, falling one half a percentage point to 4.5% in Arkansas for July 2008. That’s the lowest level since April 2001, according to the U. S. Bureau of Labor Statistics.

Health care availability is excellent and quality is high.

People are friendly and polite.

The University of Arkansas in Fayetteville offers all types of sporting events and free classes to people over age 65.

Sports and recreational activities abound. There’s Beaver Lake with more than 400 miles of shoreline for swimming, boating, and fishing. There are festivals such as Bikes, Blues and BBQ, farmers’ markets, world-class golf, polo, minor-league baseball and many more activities every weekend.

Broadway shows and major stars appear regularly at the Walton Arts Center in Fayetteville.

But mainly it’s the beauty of the Ozarks coupled with affordable housing that makes NW Arkansas so appealing.

Prices have come down in the past year making housing even more affordable. At the present time, you can buy a brand new 3 bedroom, 2 bath, brick home for less than $150,000. There are previously owned homes for less. Just about anything you’ve dreamed about is available at great prices.

Go to my website http://www.judyluna.com/ and click on “Search for Homes” to do your own search. As always, if I can be of help, don’t hesitate to call me at (479) 966-0435.

Two notes worth mentioning:
The Chamber of Commerce did not ask me to write this article !
The population figure of 419,455 mentioned at http://www.kiplinger.com/features/archives/2008/05/2008-best-cities-fayetteville.html includes all of Washington, Benton, and Carroll counties in NW Arkansas plus McDonald County in SW Missouri. The actual population of the City of Fayetteville is approximately 68,000.

For more information:


http://www.kiplinger.com/features/archives/2008/07/real-estate-prices-in-our-best-cities-2008.html?kipad_id=47 (where you can compare housing costs in different price ranges)