Northwest Arkansas Times from Fayetteville, Arkansas on May 31, 1974 · Page 27
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Northwest Arkansas Times from Fayetteville, Arkansas · Page 27

Fayetteville, Arkansas
Issue Date:
Friday, May 31, 1974
Page 27
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Page 27 article text (OCR)

1M · Norrtiw** ArkwtMt TUNIS, M40y, May 31, 1*74 Real Estate Prices Going Up Everyone wants trees, run-! E water, a garden spot and to six a c r e s , and arc ng to move out ol the city kn order to find them. Actually, according to Mrs. *Iurl Steed anrt Dal Hollingsworth, who have just graduated from the Realtors Institute, half M the calls they receive request 30 acres, three bedrooms, two baths and quality construction In a price range between $35,000 and $40,000. Most buyers have to settle for less land when they find they can't even purchase Ahe 20 acres for the price they pave set. * "At this time we are seeing V 12 to 18 per cent increase in value and have not reached bur peak by any mans.' 1 said [Mrs. Sleed. who is one of the lew women specializing in land fend commercial sales, £ Specialization is the trend in rail estate as it is in many 'fields. ".Many people think thai Svhen they retire from every .hing they can sell real estate, but this is changing and more ,'oungcr persons are corning nto the profession", Hollings- \\orlh said. The two ,ilso agree that in :he next 10 years more real estate will he included in investment portfolios because it .s one investment which insures good sounj return. GOOD INVESTMENT They sec real estate as a good investment particularly for young people. "They should invest and it is the best way in the world for a couple to start. It is an enforced savings plan. Some it is now fairly easy to get a. 95 per cent conventional loan it is easier [or them," said Hollingsworth. "Residential land, which once sold by the acre, will soon sel by the squnre foot," prediclec Hollingsworth. Residential real estate was hit by a slight slump when the inflationary t r e n d brought higher prices and higher interest rates but people have become acclimated to the change. On the other hand, the inflationary aspect of the eco- lomy has caused a boom in and and commercial sales which have increased at tre- tiendpus .percentages, Mrs. Steed said. 'Demand is far, far in excess of our supply at this time and we have had'an influx of people to the area because our environment is still so clean," she added. AREA GROWING "The area will continue to develop at a much greater rale. There will be more people, and more businesses. We have been behind the time but Northwest Arkansas is beginning to catch up and people are learning there is something down here," said Hollingsworlh. Both also see a trend out to the suburbs, and although there was a littie panic when the NEWS WHILE IT IS NEWS IN THE TIMES DISCUSSING REAL ESTATE REQUIREMENTS . .. .Mrs. Steed and Hollingswortk gasoline shortage hit, it has not ?ut a damper on the number of persons who are going fur- her out to get the extra land Jiey want. I.and values in many instances are based on perimeters from the city limits. In a five- mile perimeter land sells for $2,000 per acre and up; within 10 miles the price varies from $750 to $2,000 and past that f r o m , $200 to S500 with the higher prices paid for land closer in. Neither of the realtors expect these values to remain unchanged for long, however. Cattlemen and ranchers are moving out of the 10-mile perimeter, they said, in order to be able to purchase pasture lands because of the encroachment of residential property. Another trend the realtors noted is .that many people are looking for older homes and there is a considerable amount of remodeling being done. It still remains a fact, however, that financing is easier for new homes. WOMEN BUYERS Women are the chief buyers of homes, but men buy land, the realtors agreed. Mrs. Steed, who is more or less a pioneer for her sex in land and commercial sales, sees oniy a small percentage of the women in the profession as serious. "About 20 per cent of the women who enter the field are! serious but those who decide to remain are dedicated." Since women are the chief buyers of homes, Hollingsworth feels that women realtors have an edge in this phase of the business. Mrs. Steed, however, says, "You can very well count that the man is buying when it comes of land sales." But regardless of sex, more training is necessary for realtors today. "No one person can be an expert in every field, f t is more complicated than any one thinks if the realtor provides the service the public deser- v e s , ' ' Hollingsworth commented. FKW QUALIFIED Tlie two new graduates are designated "Graduate, Realtors Institute" (GUI), a n d a r e among 200 out of the state's 10,000 licensed realtors. One of the requirements is membership in the Arkansas Realtors Association. The institute was developed to provide comprehensive and specialized education in all phases of real estate operations for members of the association. It was the eighth such organization in the nation to be approved by t h e National Association of Realtors and authorized to award the nationwide designation GRI. Mrs. Steed, who holds membership in the National Farm and Land Brokers Association, has been named a director of the recently formed Arkansas Real Estate Exchange. Also serving on Shis board : is Leonard L. Tribby of Springdale. P little knowledge can go a long way toward protecting our environment. rkansas Western Gas Company nas been ' (or years toward conserving C.LT aijral resources and now presents these (c i ne p you do the same and save you mcr? VG as well 5 'as the other gas c-css the country, is stressing the use ;? ia'.ura' Gas because it :s a na'ura: er.agy : an oc used in its natural srafe Much c' f,e lectncity is generated by Natural Gas ou' " e generation of e'ecUic.ty about 7C pe - ce ; :ie Nij-.jral Gas. the orgina ene-g, ·; -51 and cnly about 30 percent o! 1:3 e'-e'gy delivered to the home ir- the 'OT Tnen too Natural Gas does no! tre natura* scenery o* C^r c. r e, a .t r^c-ves underground -- p; es and wires The use o' *.3'( c-ans cieane- a Arkansas Western Gas Company l FAYETTEVILLE'S PRESCRIPTION SPECIALISTS Pearl Clinehens Charles Clinehens Harold Clinehens 48 YEARS GROWING WITH FAYETTEVILLE The Fayctteville Drug Store opened June, 1936. Since that time we have watched with pride our circle of customers and friends quickly widen through the ensuing years. We have grown rapidly through the liberal patronage of our customers. 48 YEARS PROMOTING FAYETTEVILLE We have seen Fayetteville grow in population and in industry and have been pleased to be · part of that growth. We take special pride in promoting Fayetteville through participation in civic projects. We believe in Fayetteville as a good place to work, and will continue'to promote its growth and prosperity. . . ' 48 YEARS PRESCRIPTION SPECIALISTS We treasure our reputation as prescription specialists. It is a reputation which has been built through th* years by constant, accurate service. You can depend on us to fill your prescription with only the highest quality drugs. We cooperate with your physician. Call us for all your drug needs. ' , . WE PICK UP AND DELIVER PRESCRIPTIONS FAYETTEVILLE DRUG EAST SIDE OF SQUARE PHONE 442-7345 UNITED VAN LINES ... CONTINUING TO SERVE THE PEOPLE OF NORTHWEST ARKANSAS · "Exclusive Sanitized" Vans and Equipment · Expert Packing, Crating and Shipping -- Local, Long Distance and Oversea* · Experienced, Courteous Personnel · Competitive Rates -- Free Estimates United Van Lines and Red Ball Transfer Storage Co. hove an established record of pleasing people through efficient service, a nd a dedication to customer satisfaction. We pledge to uphold our high standards in 1974 as we have for the past 53 years. To the thousands whom we have served in the years past, we say "thank you". To the thousands more we will serve in the years ahead, we pledge our most conscientious effort to merit your full confidence. ® United I/an Unas Competent Personnel Plus the Latest Equipment Combine for the Best Servk» Possible. 1810 North College 442-4632 or 442-8921

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