Author Topic: What's going on in NWA, 2020  (Read 24776 times)

chittlins

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Re: What's going on in NWA, Spring 16
« Reply #45 on: April 27, 2016, 04:22:27 PM »
You got some pretty big plans there for a state you do not even reside in. If you think Missouri is going to invest millions on the high road( road to nowhere) you are sadly mistaken. Interstate 70 rebuild is foremost on MoDots radar. Mo Citizens would be up in arms if money was spent for a private entity to prosper more while the main roads and bridges that carry most of the states commerce crumple.

If you're talking about the Bella Vista Bypass (complete I-49)....That road would be main drag to both one of the biggest growing regions in the country (NWA) and a future connection to the Gulf (when Ft Smith to Texarkana is done).  That would be a direct interstates between KC/Stl and Houston/Gal port...without having to go through Dallas.  A direct North/South route from the Gulf to shipping centers in MO.

The only reason MO isn't getting it completed is that they playing the political games with the fed road money and trying to wait it out till the Ark Ft.Smith to Texarkana section is officially started (budget approved).  Can't blame them for spending their money on other priorities until that is green lighted....or even trying to get extra dollars to help finish it as the AR project money gets approved.  Point is....it will be a huge win for MO to eventually do it.
[/quote]
I've got to correct you a bit.

I-49 will run to New Orleans providing a southern flanking maneuver of Baton Rouge. What you will be able to do is connect to I-69 at Texarkana that then will take a you straight to the Houston/Galveston area. I've got issues with the  future routing of I-69 thru Miss and Arkansas but that's got nothing to do with this

chittlins

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Re: What's going on in NWA, Spring 16
« Reply #46 on: May 05, 2016, 09:44:59 AM »
Bentonville gets a downtown movie house and now it appears Fayetteville will gain it's former one back.



Plans are afoot to tear down all but he facade and restored Marque of the UARK theater. Current plans call for a multilevel facility with a bar and restaurant with two smaller screens on the ground level with two larger screens on the second and third levels.

HumphreyHawk

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Re: What's going on in NWA, Spring 16
« Reply #47 on: May 05, 2016, 11:42:11 AM »
Cool....makes sense to have add a few screens that close to campus.  Walking distance to thousands of bored kids.

FYI.....Bentonville Film Fest (BFF) just started.  Might be a few 'movie stars' running around here.  I was underwhelmed with the schedule/events this year.  The whole scene isn't really my thing but with the added development to downtown and the buzz the festival still regular gets....I'm guessing is going to keep growing.

bentonvillefilmfestival.com
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chittlins

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chittlins

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Re: What's going on in NWA, Spring 16
« Reply #49 on: July 14, 2016, 01:00:49 PM »
ECONOMY RANKS NO. 5 THROUGH 2021
PUBLISHED: JULY 7, 2016
The Northwest Arkansas economy’s growth rate will rank No. 5 nationally through 2021, researchers with IHS Global Insight predict.

The same economic analysis, which was prepared for the U.S. Conference of Mayors, predicts Northwest Arkansas will rank No. 8 in the U.S. in its job growth rate in 2017.

The IHS report continues a series of positive economic and quality of life reports about Northwest Arkansas and how it stacks up against the nation’s other metropolitan areas. In recent months, Forbes put the Fayetteville-Springdale-Rogers Metropolitan Statistical Area (Northwest Arkansas) at No. 2 on its list of Best Midsize Cities for Jobs and the region was No. 3 on a U.S. News and World Report ranking of Best Places to Live.

Only four U.S. regions — two in Utah and two in Florida — are expected to see their economies grow at a faster rate than Northwest Arkansas through 2021. The 3.9 percent annual growth rate predicted for Northwest Arkansas will push the region’s economy past $30 billion.

Impressive job growth will be part of the strong economic performance. The report shows jobs increased in Northwest Arkansas by 5 percent in 2015. The region’s job growth wasn’t expected to rank in the nation’s Top 10 this year, but it will be ranked again in 2017, coming in at No. 8, the analysis shows.

Northwest Arkansas has long had an economy that ranks higher nationally than its overall population.

While the Northwest Arkansas MSA is the nation’s 105th largest in population, the presence of Walmart, Sam’s Club, Tyson Foods, J.B. Hunt Transport Services and more than 1,450 Walmart suppliers puff up the economy’s size.

With a gross metropolitan product of $26.1 billion in 2015, Northwest Arkansas ranked No. 94 in the U.S. It ranks No. 198 in the world, putting it right behind El Salvador ($26.3 billion).

The report by IHS was made public on June 24.

chittlins

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Re: What's going on in NWA, Spring 16
« Reply #50 on: July 14, 2016, 01:03:14 PM »
Realtors across Benton and Washington counties are having the best year in history through the first six months of 2016, selling 4,603 homes valued at $970.268 million through June.

Sales will easily top the $1 billion mark in July. The 2015 home sales first topped $1 billion in August.


Units sales through June are up 35.9% from the same period last year, according to data provided by Eric Harris at Weichert Downum Realty in Springdale. There were an average of 211 more homes sold each month of 2016, compared to the first six months of 2015. Sales volume rose 23.4% from the same period a year ago.

“Home sales continue to be strong in Northwest Arkansas. If you are a buyer and find a home you like you had better not wait to make an offer on a desirable property. If you are a seller it’s a great time to get your home on the market,” Harris said.

Active buyer demand has created a seller’s market and helped to hoist home prices higher from a year ago. Taking all the sales through the June the median home price rose to $179,900 in Benton County, and $165,000 in Washington County. A year ago the median homes prices were $167,000 and $162,000, respectively. That’s a gain of 7.72% in Benton County and 1.85% in Washington County.

MEDIAN PRICE RECOVERY
Looking back six years in each county it’s clear that home prices are trending higher. Benton County’s median home price through June in 2010 was $129,000. At that time foreclosures were being unleashed in the region and by 2011 median home prices in Benton County dropped to $119,900. Over the next five years the median home price in Benton rose more than $70,000, or a whopping 58.4%.

In Washington County median home prices bottomed in 2011 at $115,000. Since that time median home prices are up more $53,000, or 46.2%.

Nicky Dou, an executive broker for Keller Williams in Bentonville, said this year is as busy as she can remember. Dou was the top producing agent in the region last year with just under $40 million of sales credited to her. Dou told Talk Business & Politics that so far this year she has placed a little more than $30 million under contract. Her sales team which includes her husband Jerry Dou, Terri Elbatnigi and Jenny Miller are also having a great year.

“If we were to add up all of our sales together we would be around $47 million to date,” Dou said.

She said homes priced under $400,000 are selling well, especially new construction. With more high level homes being sold in Benton County, that is part of the reason the median price is up more so than in Washington County.

“Homes priced under $250,000 are selling within days of being listed and some with multiple offers, if they are in good condition,” Dou said.

The low supply of homes for sale in some price ranges are also pushing some prices higher than asking prices. Dou said that has resulting in a few appraisal issues in recent weeks.

“I listed a home in Fayetteville last Thursday (July 7) and by end of Saturday (July 9) I had two offers on it. It was listed at $165,000 so the buyer demand is not only in Benton County,” she said.

STRONG JUNE
Harris’ info showed that Benton County reported unit home sales of 625 in June, valued at $146.851 million. Unit sales were up 18.6%, while sales volume rose 32.17% from $111.105 million reported a year ago.

Washington County Realtors sold 400 homes last month, up 39.89% from the 286 homes sold a year ago. Total sales volume rose to $82.734 million, up 33.9% from $61.743 million reported a year ago.

Northwest Arkansas posted its best June on record in terms overall sales volume and units sold. Average home prices in Benton County last month topped out $234.963, up 11.44% over the $210.827 reported in June 2015. Looking back to 2013, average home prices in Benton County in June are up 23.35%.

Washington County’s average home price was $206,835 in June, below the June 2015 average of $215,885. That said, for the month of June average home sales price are up 16% in Washington County.

BACK HALF FORECAST
Agents polled by Talk Business & Politics said 2016 will likely be one for record books. Economist Kathy Deck, director for the Center for Business and Economic Research at the University of Arkansas, agreed there are solid reasons for the local real estate market to climb to new highs. She said it is supported by a growing population, strong job market in the region.

One of the issues Realtors thought might weigh on demand in the coming months was rising interest rates, but with the Brexit vote and other global issues have pushed interests lower, not higher. The British exit from the European Union, commonly referred to as Brexit, prompted the rate of a 30-year fixed mortgage to drop to an average of 3.41% compared to where it stood a year ago at 4.08%. According to the Federal Home Loan Mortgage Corporation, Freddie Mac, it’s the lowest such rate since May 2013.

The average rate on a 15-year fixed mortgage recently dropped to 2.74%, compared to 3.2% last year.

“Mortgage rates were already low for potential homebuyers and this drop creates an even better opportunity for them to save money and secure an even lower rate when purchasing or refinancing a home,” said Steven Plaisance, president and CEO for Arvest Bank Mortgage Division.

Arvest is one of the largest mortgage lenders in the region. Plaisance said the lender is seeing lots of activity for new purchases and refinances, which is some cases is saving customers $200 per month. The Mortgage Bankers Association also reports a 14.2% increase in mortgage applications following the drop in interest rates that was triggered by the Brexit vote.

This renewed activity in the U.S. housing market comes at a time when the industry has seen low inventory and higher home prices. Industry leaders are hopeful the recently adjusted rates will continue to spark more activity, as homeowners decide to act quickly.

“There is no way to predict how long these rates will remain, or in which direction they will go next,” Plaisance said.

HOME SALES (January through June)
Benton County
Unit Sales
2016: 2,877
2015: 2,457
2014: 2,178
2013: 2,178
2012: 1,811
2011: 1,766
2010: 1,708

Sales Volume
2016: $625.367 million
2015: $491.360 million
2014: $408.608 million
2013: $402.024 milion
2012: $313.659 million
2011: $276.415 million
2010: $272.846 million

Median Home Price
2016: $190,000
2015: $167,000
2014: $150,000
2013: $150,000
2012: $139,000
2011: $119,900
2010: $129,000

Washington County
Unit Sales
2016: 1,726
2015: 1,430
2014: 1,241
2013: 1,302
2012: 1,104
2011: 1,111
2010: 1,091

Sales Volume
2016: $344.901 million
2015: $274.799 million
2014: $274.799 million
2013: $224.201 milion
2012: $175.644 million
2011: $155.232 million
2010: $170.852 million

Median Sales Price
2016: $179,900
2015: $162,000
2014: $152,000
2013: $146,750
2012: $133,125
2011: $115.000
2010: $130,000

chittlins

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Re: What's going on in NWA, Spring 16
« Reply #51 on: July 27, 2016, 09:19:06 PM »

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Re: What's going on in NWA, Spring 16
« Reply #52 on: July 28, 2016, 04:19:37 PM »
I just signed on to a new company that also has an office in Fayetteville. They were talking like they may eventually want me to move out there in the next few years. I don't think I'd mind that at all, I just hope I don't buy at the high end of this real estate surge.

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Re: What's going on in NWA, Spring 16
« Reply #53 on: August 07, 2016, 08:45:40 AM »
When you get here, Shave, let us know. The NWA members would like to meet you and shake your hand.
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Re: What's going on in NWA, Spring 16
« Reply #54 on: August 07, 2016, 02:05:03 PM »
I saw Michael McDonald and Boz Scaggs will be at the Walmart AMP in Rogers this Friday night.  Sounds like a great concert! (still doesn't mean I want to hear their music at SDC, Laroy!  LOL)
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chittlins

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Re: What's going on in NWA, Spring 16
« Reply #55 on: August 07, 2016, 10:03:07 PM »
I saw Michael McDonald and Boz Scaggs will be at the Walmart AMP in Rogers this Friday night.  Sounds like a great concert! (still doesn't mean I want to hear their music at SDC, Laroy!  LOL)

I took my Mom to McDonald with Toto at the Hard Rock in Tulsa this time last year.   I'm adverse on buying outdoor tickets in July and August, I took my daughter to 21 Pilots in KC over NWA cause Indoors. :o

chittlins

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Re: What's going on in NWA, Spring 16
« Reply #56 on: August 14, 2016, 11:58:39 AM »
I found it amusing that she's building a new hospital up here and yet was shocked of what the growth projections were till just very recently when the Walmart CEO filled her in  that it's a million people in 15 years.

https://youtu.be/JAEct1dq994
« Last Edit: August 15, 2016, 10:46:18 PM by chittlins »

chittlins

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Re: What's going on in NWA, Spring 16
« Reply #57 on: August 14, 2016, 12:02:41 PM »
New School for former Bentonville Fairgrounds
by Paul Gatling

Officials of a new independent school in Northwest Arkansas, backed by the Walton Family Foundation, said Thursday the campus will be built at the former Benton County Fairgrounds site in Bentonville.

The site, at the corner of Main and Eighth streets south of the downtown square, is currently owned by Wal-Mart Stores Inc., and will be donated to the school, according to a news release.

The school, announced last summer, will be called Thaden School, in honor of Bentonville native Iris Louise McPhetridge Thaden (1905-1979), considered one of the greatest aviators of her time.

The school will open in the fall of 2017 starting with grades 7 and 9 and grow incrementally over the next four years to serve students in grades 6 through 12, according to the release.

The school expects to provide full or partial financial assistance to at least 25 percent of its students, according to the release.

The development of the campus will start with indoor and outdoor spaces that will support the school during its first two years. During this initial phase of operations, the institution will be located on its permanent site. The design and construction process for the rest of the campus will begin later this year, and is expected to be completed no later than the fall of 2019.

Before 1924, the former fairgrounds site was location for three other educational institutions, including Bentonville High School when Thaden was a student there. The campus will eventually include a historic house where Louise Thaden once lived, currently located at 703 W. Central Avenue in downtown Bentonville.

The Scott family will donate the house to the school, and Thaden officials are working on a plan to store the structure until it can be relocated to the permanent site as part of the campus master plan.

The relocation will need approval from the City of Bentonville.

The school also announced a number of hires for its leadership team and board of directors.

Dr. Clayton Marsh, formerly the deputy dean of the college at Princeton University, was announced as the founding head of school effective January 2016.

HumphreyHawk

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Re: What's going on in NWA, Spring 16
« Reply #58 on: August 15, 2016, 02:28:44 PM »
^^^^

Interesting....I'll have to look into this school.  I have a few kids they might be able to slide right into that plan.

I know a couple of folks who work for the Walton foundation.  It's incredible how much money the put into schools around NWA (and around the country).  They have practically 100% funded some awesome new alternative HS programs that has completely changed the way the students learn.  Basically....10th and 11th grades kids start getting opportunities to get hands on training/experience in various fields of potential study outside of the basic HS studies and by 12th grade they all have career paths identified and many spend 12 grade either doing college level class work and/or start doing apprenticeship work within the community.  It's huge jump start both for college bound kids and even a bigger boost for non-college bound kids who getting a leg up getting straight into the workforce.  The program was a first of it's kind has been getting some national attention.

To the educaters on the board....look up the Walton Foundation.....they love to "invest" in education.....just come to them with a gameplan for improving your school.

NWA is awesome place to live.....just quit telling everyone....we are getting too big....lol
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chittlins

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Re: What's going on in NWA, Spring 16
« Reply #59 on: August 18, 2016, 03:36:29 PM »
I'm ripping off a post from elsewhere that adds the River Valley to NWA, this is considered a combined tv market as is but that tunnel makes it seem seperated.:

Add metro Fort Smith to the expanding population.  This would put the metro Fort Smith area to about 400,000.  A combined NWA/FSM of 1,400,000 would be bigger than metro Memphis is today:

  Quote
The population of Fort Smith is projected to grow about 20 percent by the year 2040 for a total of more than 107,000 people, but Greenwood will outpace the region.



Using U.S. Census data and sources such as the Arkansas Municipal League and University of Arkansas at Little Rock, the Frontier Metropolitan Planning Organization estimates most communities in the region will also have a 1 percent annual increase over the next 20 years.

While Fort Smith will likely to continue being the most populated city in the four-county area, the largest population growth locally is expected to be seen at Greenwood with a 153 percent projected increase by the year 2040.

Greenwood, the southern Sebastian County seat, is projected to have a population of about 24,495 by the year 2040. It was 9,666 in 2015.

Tony Crockett, a Justice of the Peace for Greenwood in the Sebastian County Quorum Court, says Greenwood has shown steady growth in all directions, particularly north toward Fort Smith.

“I’ve been telling people for a long time that eventually you won’t be able to tell where Greenwood ends and Fort Smith starts,” Crockett said. “Fort Smith is growing south and east and Greenwood is going north so eventually they’ll meet up.”

Alma and Barling are expected to see the second- and third-most growth in the region, respectively. Alma, which lies on U.S. 64 east of Van Buren, is expected to increase in population over 80 percent: 5,600 in 2015 to a projected 10,259 in 2040.

http://www.swtimes.com/news/20160814/population-projections-show-greenwood-booming