Arvest Bank Announces Echols Hiring

Thursday, October 11 at 10:00 AM
Category: Arvest Community News

Arvest Bank is pleased to announce Jarrod Echols has been hired as an associate mortgage lender in Benton County.

Echols began working in the mortgage industry while attending the University of Arkansas in 2012, and eventually earned a bachelor’s degree in banking and finance. Upon graduation, Echols worked in the insurance industry and was named district recruiting manager within six months.

Echols joined Arvest in July, and as an associate mortgage lender, works closely with the mortgage loan manager in the generation, evaluation, approval, processing, closing and servicing of real estate loans. He is based out of the Arvest branch located at 405 S. Walton Blvd. in Bentonville.

“Jarrod’s energy and commitment to his customers is evident,” said Maria Lau, mortgage loan manager for Arvest in Benton County. “He has been through Arvest’s extensive mortgage training program and we look forward to great things from him.”

Among other civic endeavors, Echols is a member of Kiwanis International. He attends Cross Church Pinnacle Hills. 

Tags: Arkansas, Arvest
 

Arvest Bank Announces Powell Hiring in Mena

Thursday, October 11 at 09:00 AM
Category: Arvest Community News

Arvest Bank is pleased to announce Shawna Powell has been hired as a mortgage loan officer in Mena.

Powell has 10 years of industry experience. In her role at Arvest, she will serve as a decision-making resource for customers, providing guidance to them in an effort to find solutions tailored for their unique needs, among other responsibilities.

“Shawna is a proven professional and we couldn’t be more excited to add her to our staff in Mena,” Arvest mortgage loan manager JP Sexton said. “We look forward to great things from her, and know that our customers will benefit from her knowledge and expertise.”

Powell earned an associate degree at the University of Arkansas – Rich Mountain and a bachelor’s degree in organizational management from John Brown University. She and her husband, Dustin, live in Mena with their two daughters.

 

Tags: Arkansas, Arvest
 

Skyline Report: Home Prices Continue to Rise as Lot Inventory Remains Low

Wednesday, October 10 at 09:00 AM
Category: Arvest News

Arvest Bank has released Skyline Reports on residential and multifamily real estate in Northwest Arkansas for the first half of 2018.

During the first half of this year, the average price for homes sold continued to rise and reached record highs in both Benton and Washington counties. The increase in Washington County from the first half of 2017 to 2018 was especially significant at 12.3 percent, moving from $209,899 to $235,618. In Benton County the increase was 4.9 percent, moving from $227,036 to $238,098.

Looking at five-year trends, the average price of homes sold in Washington County has increased from $173,979 in the first half of 2013 to $235,618 in the first half of this year – an increase of 35.4 percent, which is an average annual increase of 7.08 percent. In Benton County the average price of homes sold in the first half of 2013 was $185,500 compared to $238,098 this year – an increase of 28.4 percent, or 5.68 percent annually.

Homebuying activity remained strong in the first half of 2018 with 4,438 homes being sold in the period, up 1.2 percent from the first half of 2017 when 4,385 homes were sold, and up 45.5 percent from the first half of 2013 when 3,051 were sold.

Mervin Jebaraj, director of the Center for Business and Economic Research (CBER) at the Sam M. Walton College of Business at the University of Arkansas, said there are several factors contributing to the rising prices, including labor and material costs and the shrinking supply of available lots on which to build new homes. The supply of remaining lots in active subdivisions, based upon the previous 12-month absorption rate, was 29.6 months in the first half of 2018, up slightly from 28.9 months in the first half of 2017 and down significantly from 94.3 months in the first half of 2013.

“Affordability is becoming an issue in the residential real estate market in Northwest Arkansas as the increase in home prices significantly outpaces both wage growth and inflation,” Jebaraj said. “With our population expected to continue to grow at a rapid pace, we need to continue building new homes to meet demand, but there are far fewer lots on which to build new homes. This is especially true within the larger cities in the region where many people desire to live.

“What we are seeing in the data is that more and more people are choosing to lease apartments instead of buying homes, because the apartments tend to be closer to the amenities they desire and are considered to be more affordable. This, in turn, is fueling the insatiable growth in the multifamily market, which continues to add new multifamily properties at a rapid pace without any sustained increase in the vacancy rate of those properties.”

The multifamily real estate market in Northwest Arkansas has grown, in terms of total square feet, by 22.8 percent during the past five years – from 19,292,047 total square feet in the first half of 2013 to 23,682,495 in the first half of this year – but the vacancy rate has remained very healthy, falling slightly from 4 percent in the first half of 2013 to 3.9 percent in the same period of 2018. The average lease price for apartments has increased 20.7 percent since the first half of 2013, from $538.34 to $660.80.

The Arvest Skyline Report is a biannual analysis of the latest commercial, single-family residential and multifamily residential property markets in Benton and Washington counties. The report is sponsored by Arvest Bank and conducted by CBER.

In 2004, Arvest Bank contracted with CBER to collect information about the local real estate markets. CBER researchers aggregated and analyzed data from local governments, property managers, visual inspections and the business media to provide a complete picture of the status of property markets in the two counties.

CBER provides excellence in applied economic and business research to federal, state and local government, as well as to businesses currently operating or those that desire to operate in the state of Arkansas. The center further works to improve the economic opportunities of all Arkansans by conducting policy research in the public interest.

Tags: Arvest, Skyline
 

Annual Tree Giveaway at the Celebration of Trees

Tuesday, October 09 at 09:00 AM
Category: Arvest Community News

On Saturday, October 13th, at 7:00 a.m. Mayor Lioneld Jordan, the City of Fayetteville Parks and Recreation Department, and the City of Fayetteville Urban Forestry Advisory Board will be giving out FREE trees and shrubs to City residents. The 20th annual tree giveaway, locally recognizing Arbor Day, will be held on the Arvest Bank Plaza on the Northeast corner of Fayetteville’s Historic Downtown Square. The event is held annually with the goal of helping to grow the urban forest. Adults should be prepared to show proof of their City residency before selecting a tree or shrub.

The Celebration of Trees is a one-day event, but growing a tree is a sustained endeavor that positively impacts the urban forest in Fayetteville for years into the future. Over the last 20 years the City has given away over 13,000 trees and shrubs to citizens.

Date: Saturday, October 13
Time: 7:00 a.m. until supplies are exhausted
Location: Arvest Bank Plaza on Center Street on the Downtown Historic Square

Quantities: Limited and available on a first come, first served basis. Limit (2) plants per adult Fayetteville resident that is present at the event. 

Trees and shrubs available this year will include:

  • Arrowood Viburnum – Viburnum dentatum
  • Paw Paw – Asimina triloba
  • Persimmon – Diospyros virginiana
  • Rusty Viburnum – Viburnum rufidulum
  • White Oak – Quercus alba
  • Catalpa Tree - Catalpa speciosa
  • Bald cypress- Taxodium distichum
  • Black Gum- Nyssa sylvatica
  • Willow Oak- Quercus phellos
  • Sycamore- Platanus occidentalis
  • Winterberry- Ilex vertisalata
  • Red Bud- Cercis canadensis
  • Walters Viburnum- Viburnum obovatum ‘Reifler’s Dwarf’
  • Button Bush- Cephalanthus occidentalis
  • Native Fringe- Chionanthus virgincus


Questions Call (479) 444-3486 or (479) 444-3470

The Urban Forestry Advisory Board and Urban Forestry staff stress “Right Tree, Right Place.” Trees can take many years to reach their mature height and spread. It is important for homeowners to take all surroundings into consideration when choosing the location for their new tree. To avoid heavy pruning or removal, consider the mature height of the tree and proximity near overhead power lines. Residents should always contact Arkansas One Call at 811 or (800) 482-8998 before digging.

Informational flyers regarding plant characteristics, planting suggestions, and management tips will be available with each tree or shrub at the Celebration of Trees 2018 event. 

Visit http://www.fayetteville-ar.gov/234/Celebration-of-Trees to learn more about each species. 

 

Tags: Arvest, Fayetteville
 

Arvest Bank to Host Free Shredding Event in Harrison

Monday, October 08 at 02:00 PM
Category: Arvest Community News

Arvest Bank will provide free on-site shredding, in conjunction with Shred-It, for customers in Harrison who want to properly dispose of documents that include personal or confidential information. Proper destruction of such documents helps protect individuals from potential identity theft.

The shredding event will take place Saturday, Oct 20 from 10 a.m.–1 p.m. at the Arvest Bank branch located at 1402 Hwy 62-65 North at the corner of Hester Drive. There is a limit of five boxes per household.

Arvest associates will grill hot dogs for participants and local radio station KHBZ 102.9 “The Z” will broadcast live on-site from 10:30 a.m.-12:30 p.m. 

Although the event is free, donations to the Rotary Club of Harrison’s barrier-free park project will be accepted. The Rotary Club is helping fund construction of a barrier-free park and playground area that will be located adjacent to the existing park at Lake Harrison to make the park accessible for children with physical challenges.

Tags: Arkansas, Arvest, Harrison
 

Arvest Bank to Host Free Shredding Event in Mountain Home

Monday, October 08 at 01:00 PM
Category: Arvest Community News

Arvest Bank will provide customers an opportunity to have their confidential documents shredded at no cost, in an effort to offer protection against identity theft. 

Arvest and Shred-It will host the free shredding event Saturday, Oct. 20 from 10 a.m.-1p.m. at the Arvest branch located at 2619 Hwy 62 in Mountain Home. There is a limit of five boxes per household.

Arvest associates will grill hot dogs for participants and local radio station KTLO will broadcast live from 10 a.m.-noon with an opportunity for listeners to win prizes from the station’s treasure chest. 

Although the event is free, donations to local nonprofit organization Into the Light will be accepted. Into the Light provides refuge and support services to minors who are victims of sex trafficking. The organization works to educate minors and communities on the traps associated with human trafficking, in addition to providing 24-hour crisis response. 

Tags: Arkansas, Arvest, Mountain Home

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