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    Friday
    Jan302015

    bentonville north walton loan consortium announced

    This will be a big boon to the North Walton corridor and will ultimately help us all in spreading the city growth away from strictly downtown and stretch further to the north...

     

     

    Bentonville Chamber of Commerce:

    The Bentonville/Bella Vista Chamber of Commerce announced today the formation of the North Walton

    Loan Consortium program for development and redevelopment of North Walton Boulevard in

    Bentonville. In association with its partner financial institutions, the program has been established to

    assist the private sector in realizing and accelerating enhancements or rehabilitation of current facilities

    as well as the construction of new projects. The program provides financing at lower interest rates to

    qualifying individuals and entities with viable proposals for the enhancement of the corridor. The

    corridor encompasses the property that abuts or falls within the block to the east or west of North

    Walton Boulevard between Ridgefield and West Central Avenue.

     

    The Loan Consortium is made up of the following eight partners: Arvest Bank, Bank of Gravett,

    Centennial Bank, First Security Bank, Grand Savings Bank, Iberia Bank, INTRUST Bank and Simmons Bank.  Each participating member has committed $2 million dollars to the program for a total pool of $16

    million dollars. The Loan Consortium will run through December 31, 2017, or until such time as available

    funds have been committed.

     

    Loans approved by the Loan Consortium will generally have a term of seven (7) years or less and be for a

    minimum amount of $50,000. The maximum interest rate to be charged for a loan issued by the

    Consortium will be Wall Street Journal Prime adjusted daily or a fixed rate equal to a 2.00% spread

    above the corresponding Federal Home Loan Bank Secured Connect amortized balloon advance rate.

    The fixed rate term shall be fixed for five (5) years, with any amortization period exceeding five (5) years

    subject to a floating rate as determined by the Loan Consortium.

     

    “We are very pleased to partner with these eight financial institutions to positively impact North Walton

    Boulevard, the northern gateway into Bentonville“, said Dana Davis, CEO & President of the

    Bentonville/Bella Vista Chamber of Commerce. “Each partner was eager to participate and support the

    development of this important corridor.”

     

    The initial step in the process is to file a “Notice of Intent to Apply” with the Bentonville/Bella Vista

    The initial step in the process is to file a “Notice of Intent to Apply” with the Bentonville/Bella Vista

    Chamber of Commerce, available from the Chamber beginning February 2. If the Chamber determines

    that the project will lead to a significant improvement of an existing structure in the development area

    or will result in new construction (or a combination of both new and existing) that will significantly

    enhance the development area, the applicant will be invited to submit a formal Loan Application to the

    Loan Consortium. 

     

    “Once we prove the success of the program, it would be our hope to replicate it in other areas of the

    communities we represent that need similar assistance”, said Davis.

    Tuesday
    Jan272015

    Bentonville market is exploding!

    Right now there are 73 listings that have gone under contract in Bentonville for January alone! If the pace keeps up we will be on track to move 1000 homes in Bentonville alone in 2015. That's a lot of homes! If you have a home to sell or are looking to buy, now is the time...prices are especially high within the downtown area. Please give me a call if I can help and thanks!

     

    Sunday
    Jan252015

    looking for leasees for office space

    If you and your company are considering leasing a space or are ready to renew your lease, please give me a call or drop me an email. Working with some clients who are looking to develop a space and will build-out to your specifications. Over 5500 sqft plus more room to build on, can make separate office space or whatever you are looking for...not downtown but with mintues. Let me know if I can help! 

    Wednesday
    Jan142015

    i need listings!!!

    I am almost out of listings again...the real estate market in Bentonville and NW Arkansas is January HOT!

    It's been a long time since I've seen it this busy in January...must be something in the water. In the first two weeks alone, 38 houses in Bentonville have gone under contract, plus one of mine that isn't on the list yet...that's 19 being sold a week - at that rate it would total nearly 1000 homes this coming year. We sold 994 last year...Last year during January we sold 39 homes for the entire month. That means that this January is odd...and I predict it will continue through the year and we'll end up with well over 1000 homes sold in Bentonville alone. There are currently 367 homes for sale in Bentonville today...that's not near enough to satisfy the upcoming demand...

    Please - if you are ready to sell or have been thinking about selling, give me a call at 479-903-0328...or drop me an email from the website...it's winner time for sellers! 

    Wednesday
    Jan072015

    Hollywood Comes to Bentonville!

    Finally they have officially announced the Bentonville Film Festival for May 5-9th. I have known about it for a while but kept my mouth shut until they made the announcement. This will be a BIG event for Bentonville. Patterned after the Tribeca Film Festival in New York and Sundance Film Festival in Colorado - and using some of the same organizers, this event will be led by Geena Davis and will concentrate on films by or about minorities and women. 75 films will be presented in different venues around Bentonville and possibly in other venues in Northwest Arkansas. Some of the many "A" list stars that have had their names thrown aroound for the festival include Tom Hanks, Reese Witherspoon, Bruce and Laura Dern, Martin Sheen...we shall see as this moves forward who will commit to coming to our little big town to see what we have to offer and let us gawk at the stars. Personally I'm excited and I hope you all are too. This event will be one more thing to put Bentonville on the radar of the rest of the country. The plan is for this to be a yearly event which will further our exposure year after year. Welcome to Bentonville!