Arkansas, a state full of beautiful countryside, streams, creaks, river and lakes! Even in the largest cities, you can still find an atmosphere of down home southern hospitality; you know places where everyone says “Hi Yall!” If this sounds like a fun place to live but you are concerned about the price of housing, you might be interested in the number of Arkansas foreclosure listings.
Foreclosures in Arkansas run the gamut from single-family dwellings to vacant land and many things in between. What you may not know about repossessed homes or REO property is that it often translates into affordable housing! Banks and lending institutions want one thing and it is not to own real property. This opens the door for individuals to snap up properties for a bargain price, and in this economy that is definitely good news.
In the state of Arkansas right now there are over 3,000 foreclosures on the market. Benton County has the highest number at 889 while cities such as Fayetteville, Rogers and Prairie Grove also have high numbers. Research these zip codes for further details on the areas with high foreclosures or FSBO options; 72764, 72756 and 72753.
The first thing many people think when they hear the phrase “cheap homes” is substandard. However, once you look through these listings you will quickly find that foreclosures in Arkansas are anything but substandard.
No longer does affordable housing equal run down and destroyed, (though there are a few of those!)In many cases, Arkansas foreclosures simply offer the perceptive buyer an opportunity to get a lot more house for each dollar spent.
Some people may be a bit reticent to browse repossessed homes, after all, they are evidence that another family fell on hard times. However, you have to remember to look at it as a business transaction. You had nothing to do with the reasons this home is now an REO property, but you could stand to benefit from the deal.