Northwest Arkansas Foreclosures Decline; Vacant, Foreclosed Homes Still An Issue

Northwest Arkansas is following a national trend of fewer foreclosures.

There were 50 foreclosure filings in Benton County and 25 in Washington County in February, down from 132 and 61, respectively, during the same period in 2013, according to RealtyTrac, an online marketplace for foreclosure property.

BY THE NUMBERS

Foreclosures

Comparing the number of filings in February 2013 with February 2014.

20132014*Percent Change

Benton County13250*-62

Washington County6125*-59

State801398*-50

Nation154,281112,498*-27

Source: RealtyTrac

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RealtyTrac Complete Report

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Nationwide, 112,498 properties were in the foreclosure process, the lowest monthly number since December 2006, according to the report. Foreclosures are down 27 percent from February 2013.

Fewer houses are entering foreclosure, hitting the lowest level since December 2005, according to RealtyTrac. However, residents aren't staying in their homes during the foreclosure process.

Properties abandoned by a homeowner, but not yet owned by a bank, often represent one of the biggest challenges to the neighborhoods around them, said Daren Blomquist, vice president at RealtyTrac.

"They are vacant, falling into disrepair and not providing property tax revenue, but neither the owner or the foreclosing bank is taking responsibility for them," Blomquist said.

RealtyTrac checks addresses in foreclosure against change of address requests filed with the post office to determine which properties are vacant.

Arkansas leads the nation with the longest average time of 1,128 days for a foreclosed home to be abandoned by its owner.

Vandalism and copper theft are problems for vacant houses, Blomquist said.

Rogers police have answered a few calls to abandoned homes, including one where it appeared children were building a playhouse inside, said Keith Foster, the department's public information officer.

Police can lock up the house and do extra patrols, he said. Putting together a case is hard when property records show the owner lives at the address, but the house is empty.

"We can't find a property owner to make a complaint," Foster said.

Squatters and kids are usually who police find in abandoned homes, said Lt. Derek Hudson, Springdale public information officer.

Graffiti and damaged walls were a problem for a time in a newly built neighborhood of unsold homes near Butterfield Coach Road, but Springdale properties appear to be filling up, Hudson said.

A larger problem in Springdale, Hudson said, are houses that are red-tagged as unsafe. Police tell residents to stay out of the house until the problems are fixed, but people leave and come back, he said.

Police in Springdale operate on the "broken windows" theory. If homes aren't cared for, it can communicate the residents don't care about the community. A police nuisance abatement program works with the city's code enforcement department to keep homes from falling into disrepair.

NW News on 03/13/2014

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