Foreclosure Connections Blog

Bentonville Foreclosures Up By 3.88%

Bentonville Foreclosures has increased considerably in the first two quarters of 2008. Bank foreclosures are being sold at public auctions for a low of $50,000 and a high of $200,000. Some of the neighborhoods that were the worst affected include South East 3rd Street, North West Desoto Drive, South East Hendrix Street, North Tycoon Road and many more. The high number of homes in foreclosure in Bentonville is surprising as this is a small city with a strong economy. In fact, investors have started to pour into the city to check out the bank foreclosures and buy them at the auction.

Bentonville is also known as Vendorville is the home for the first Wal-Mart and is also the 13th largest city in the state of Arkansas. The city has a population of almost 29,538 while the median household income is $39,936. But today Bentonville is in the news for all the wrong reasons and that is because of the frequent and high rate of foreclosures. Somewhere Bentonville Foreclosures has had a contribution however low it is in Arkansas foreclosures. By April 2008, Arkansas recorded 1,118 new foreclosure filings and 51 foreclosure sales at an average sales price of $74,355.

The foreclosure filings rose up to 5,141 in the second quarter and this means that Arkansas foreclosures have jumped by 3.8% from the first quarter of 2008 and by 95% since the first quarter of 2007. The rate of foreclosures reported in the second quarter of 2008 was one per 171 households. But what really has to be seen is that whether Bentonville Foreclosures increase or decrease in the third quarter of 2008.