Worth Your Time

The Metropolitan v. Terminella case never fails to entertain, with the latest twist being possible bribery.

Another apartment foreclosure in Fayetteville is the third story in this article. I live in Fayetteville, and anecdotal evidence suggests its not a good time to own apartments there and another big one is going up on 6th Street. There are a ridiculous number of new complexes for rent. There’s probably not been a better time to get a great apartment at a good price for a college student.

Land around Las Vegas is essentially worthless according to the linked article. I’m sure the bankers sitting on NW Arkansas subdivisions would say it’s not limited to Vegas. I’ve had some tell me there is at least a 5 year supply of lots around here.

Two useful visuals from US News and World Report’s real estate blog. A county by county color coded map of foreclosure rates (only one county in Arkansas in the red) and a graphic of the number of homes with negative equity by state here.

Arkansas homeowners are getting creative with trades for homes between those looking to upsize and downsize.

Finally, even Homer Simpson is feeling your adjustable rate mortgage pain. Homer: “It’s called a home equity loan. I borrow all the money I want, and the house gets stuck with the bill!” Lenny: “I’m not sure that’s how it works.”