Bentonville/Rogers/Bella Vista To See New Wave Of Foreclosures For Sale
This is good news for investors and buyers. Hopefully, there will be a lot more good deals hitting the market soon. Basically, what happened was in the Fall of 2011 a bankruptcy case questioned whether foreclosures in Arkansas had been completed in accordance with Arkansas State Law. This caused foreclosure sales to almost come to a halt especially for the properties owned by big out-of-state banks. The foreclosures were recently deemed judicial and the backlog of properties are beginning to hit the market. You can read the full story here at Arkansas Realtors Association Blog Post from June 12, 2012.
It is basic economics. The demand has been high, the supply is low, and the prices have gone up. It looks like the supply will increase, but with strong demands for the product who knows if prices will fall or remain steady. It is my guess that within a period of months the active investors will have bought up what they can, the inventory will build, and the prices will fall. Who knows?
Here are some local real estate statistics to put it in perspective. From January 1, 2011 to June 15, 2011 there were 578 Hud Owned or REO properties sold. You can examine the Market Analysis Report Below to see the sales data for that period of time.
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Market Analysis Report
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| Status | Sold |
| County | BENTON |
| Subject To | HUDOWNED , REO |
| Sold/Leased | between 1/1/2011 - 6/15/2011 |
For the same period this year, January 1, 2012, to today, June 15th, 2012 there were 245 Hud Owned or REO properties sold. You can examine the Market Analysis Report Below to see the sales data for that period of time.
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Market Analysis Report
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| Status | Sold |
| County | BENTON |
| Subject To | HUDOWNED , REO |
| Sold/Leased | between 1/1/2012 - 6/15/2012 |
It is interesting to point out that the average home in both of these reports is almost the same size home for both 2011 and 2012. However, with the greater supply in 2011 the sale price per foot was $48.19 averaged across 578 sold properties whereas it is $56.21 per foot for 2012 averaged across 245 properties.
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