Arkansas Foreclosures Offer Exceptionally Buyers Opportunities
Photo by Public Domain Photos
The number of Arkansas foreclosures in the middle range of surrounding states as economy of Arkansas has not been hit as badly as some other states. The unemployment rate has been below the US national average during the recent recession with a current rate of unemployment just over 8%.
The economy of Arkansas includes a variety of agricultural products. The northwestern portion of the state includes several large chicken producers and is headquarters for the largest company in terms of sales in the world – Wal-Mart.
There are currently just under 11,000 foreclosed homes available throughout the state with an average statewide price of $110,000. The price of foreclosed homes in selected cities around the state rose in several locations over the course of the last month:
* The listed price of North Little Rock foreclosures rose by 0.4% during the last month. There are currently 284 foreclosed homes listed for sale at an average price of $119,900.
* The listed price of Little Rock foreclosures rose by 1.06% during the last month. There are currently 901 foreclosed homes listed for sale at an average price of $125,800.
* The listed price of Greenbrier foreclosures rose by 1.2% during the last month. There are currently 42 foreclosed homes listed for sale at an average price of $117,000. Greenbrier is north of Little Rock and Conway.
* The listed price of Fort Smith foreclosures rose by 0.27% during the last month. There are currently 381 foreclosed homes listed for sale at an average price of $117,500. Fort Smith is on the western edge of Arkansas.
There are some locations where there was a decrease in the listed prices of foreclosed homes:
* The listed price of Jacksonville foreclosures fell by a very small 0.62% during the last month. There are currently 381 foreclosed homes listed for sale at an average price of $114,900. Jacksonville is on the northeastern edge of the greater Little Rock area.
One of the most interesting and unusual attractions in Arkansas is the world’s only public diamond mine. Run by the state, the Crater of Diamonds State Park is near Murfreesboro and the person that finds it keeps every diamond found. An average of two diamonds is found every day. Although most are small, there has been several large, gemstone quality diamonds found at the park.
For any family looking to purchase one of the available Arkansas foreclosures, now may be the best time to look. The prices are down and the mortgage interest rates are at historic lows.
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