What are the wealthiest zip codes in Arkansas?
Thinking about purchasing an Arkansas home for real estate for investment or personal use? Want to protect the long term value of your new home? Ever wonder where the wealthiest residents of Arkansas reside? Here is a quick look at the top ten wealthiest zip codes in Arkansas sorted by Adjusted Gross Income per tax return.
- Little Rock 72203 $263,449
- Fort Smith 72906 $192,313
- Little Rock 72212 $97,766
- Little Rock 72207 $94,000
- Little Rock 72222 $90,746
- Little Rock 72223 $86,009
- Little Rock 72221 $82,531
- Fort Smith 72918 $79,409
- Bentonville 72716 $74,556
- Bentonville 72712 $72,911
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How can Green help sell my home?
Green is the "In" trend for the summer of 2008, and these great green real estate transactions will assure your Arkansas real estate is in tip top shape for the summer sale season.
1. List your Arkansas real estate with an "Eco-broker". Whether commercial, residential Arkansas real estate or raw land, an EcoBroker will assure your Arkansas eco-friendly property is given the attention it deserves. Eco-brokers are certified by the U.S. Green Building council and are able to demonstrate and explain sustainable concepts and green building trends.
2. Certify your property. Only those properties that meet the LEED Rating system requirements (Leadership in Energy and Environmental Design) are able to obtain certification. If your home was built by a LEED certified builder be sure to have the Realtor list that in the documentation for all to see!
3. Green Lenders. Looking for a Green lender that understands the benefits to purchasing sustainable, eco-friendly housing? It is becoming easier than ever thanks in part to Fannie Mae's Green Mortgage Initiative. Although still not well known, the Green Mortgage Initiative is available to those seeking to purchase certified green properties so be sure to ask your mortgage broker for more information.
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What are some cool trends in bathroom remodeling?
Ever since the advent of indoor plumbing the humble bathroom has remained more or less the same, but thanks to modern technology, the bathroom is making a come-back. According to research, one of the best real estate investments you can make is to remodel a bathroom. Here to help is a list of the hottest high tech bathroom trends sure to make your Arkansas real estate the most memorable on the block!
1. LED Water Temperature Indicators. These super cool shower heads are the hottest thing on the market and a great way to prevent scalding among children or the elderly. Powered by tiny turbines that use the flow of the water itself, these high-tech shower heads glow a cool blue to indicate cold water or a warm red to indicate hot water. For less than $100 make your shower safer and more memorable!
2. Barrier Free Showers. Forget stepping into the shower; with these elegant barrier free showers, falls are forever banished making it the perfect companion for the elderly. There is no door or threshold to stand in the way – just simple function meeting design.
3. Colorful Tubs. Tired of choosing between white and ivory? Tubs are going high tech and sporting over 960 different colors – enough choices to match even the most discerning color palette.
4. Sun & Steam Showers. As the health benefits of steam and sauna become popularized, water-based showering systems are increasingly complimented by steam or tanning to provide the full range of healing and health in the comfort of your own home.
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What type of real estate calculators should I be aware of and why?
Using a real estate calculator is the first step in planning a realistic budget but you may not realize how many other ways real estate calculators can help you save time, money and plan for the future. Here are the top ways to use a real estate calculator to take control of your financial future.
Mortgage Payment Calculators. Plan a Monthly Payment. One of the most simple ways to determine how much house you can afford is to use a real estate calculator like the one provided by HomesandLand.com for each and every real estate listing. Simply input the down payment and average interest rate to obtain an estimated monthly payment over a given period of time (usually 15 to 30 years).
PITI Calculators. This is similar to the mortgage payment calculator but allows you to estimate taxes and insurance to derive a more accurate monthly payment.
Principle Prepayment Calculator or Early Pay-Off Calculator. Many people are surprised to learn they can save tens of thousands of dollars over the life of the mortgage by making small additional monthly payments or larger one-time annual payments. Always be sure to verify there isn't a pre-payment penalty on the current mortgage then use a real estate calculator to determine how much you can save by paying an additional amount toward the mortgage.
Prepay or Investment Calculator. If you already own a mortgage then this real estate calculator will help you decide if it makes better financial sense to invest additional money in different investment tools or pre-pay the mortgage.
Buy or Rent Calculator. Although common wisdom has it that buying is always a better decision, let the numbers speak for themselves by using a buy versus rent real estate calculator.
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What investment real estate measures should I know?
The law of supply and demand forms the basis of the entire capitalistic economy but perhaps it is most evident when it comes to investment real estate. Many novice investors fail to take the fundamental measures into account before purchasing real estate investments; creating a situation where supply exceeds demand.
Whenever supply exceeds demand the value of the asset drops...whether it’s rental prices or Arkansas new homes or pre-existing sales prices. However, that doesn't need to be the case; with a little know-how and information, it is possible to profit from your real estate investments for years to come. Here to help are a few of the fundamental measures everyone should know before buying investment real estate.
1. Population Statistics. You have heard the adage "Location, location, location" to describe real estate and to a large extent that is true. Nationwide statistics often cite the major trends taking place but often fail to adequately describe the trends in the local area. Pay attention to the growth or decline in population by asking your Realtor or local government for statistics related to the zip code and city. It is also a good idea to determine the level of home ownership in the area and unmet need; combined, this will form the basis to determine the demand for future investment real estate.
2. Permits. Permits for the construction of Arkansas new homes provide a measure of how many will be coming in the relatively near future (from six months to two years depending upon the type of construction). If large numbers of permits indicate the available housing will exceed demand then the price of investment real estate should reflect that reality. On the other hand, if the number of permits is low while population growth is high then it may indicate an ongoing demand for rental or new homes. A list of permits for the county, city and even specific zip code are available at the county government office complex in your area. Another key permit statistic to pay special attention to is the number of abandoned or incomplete permits.
3. Starts. Starts are defined as the number of new housing units actually in the process of beginning. Be sure to compare housing starts year over year – not just from month to month in order to take seasonal fluctuations into consideration.
4. Under Construction. When observing the number of housing units under construction pay special attention to the number of units; one unit or five plus units. Remember, one mega-apartment complex can significantly impact the number of vacancies and supply of housing in small areas for significant periods of time.
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How do I obtain and use rental vacancy rate information?
Rental vacancy rates are an easy to obtain statistic to consider before purchasing any investment real estate in Arkansas or elsewhere throughout the nation. Here is how to obtain and use rental vacancy rate information to help in the purchase of your next real estate investment.
1. Obtain nationwide, regional and state-specific data from the Department of Housing and Urban Development (HUD) and the U.S. Census. Rental vacancy rates have been tracked since 1979 and may be obtained by visiting www.census.gov/hhes/www/housing/hvs/hvs.html.
2. Obtain local data from your Realtor or local Landlord association. Tracking rental vacancy trends at a nationwide basis provides some information on the general trend but local economic conditions prevail. The services of a knowledgeable real estate agent or local landlord association are able to provide critical insight into the specific level of rental vacancy rates in your area.
3. Track the Trend & Look for Momentum. Before deciding to buy or sell investment real estate, consider the three, five and ten year outlook. Don't assume the vacancy rate will remain stable and remember, as the number of available units declines, rental rates have a tendency to rise.
Nationwide rental vacancy rates have fluctuated from a low of 5.0 percent of all rental units in 1981 to a high of 10.2 percent in 2004. Variations between cities versus rural, regions and number of units, have considerable impact on rental vacancy rates yet the trends remain clear.
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