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IRS offers incentive to first-time homebuyers in Arkansas

IRS offers incentive to first-time homebuyers in Arkansas

The Arkansas Development Finance Authority (ADFA) recently introduced a program that offers a Federal Tax Credit for First-Time-Homebuyers.  It is called the Mortgage Credit Certificate (MCC) Program.  The MCC Program is offered by the Internal Revenue Service to encourage borrowers to buy their first home. 

For borrowers that qualify, if offers them up to a $2,000 Federal tax credit for each year that the house they are buying is used as their principal residence.  To qualify borrowers must be first-time-homebuyers, except in targeted counties; must meet household income limits, which vary by county; and not exceed a purchase price of $225,000.  The MCC is not part of the home financing, but rather an incentive the IRS offers to get first-time-homebuyers to buy a home.

ARA: Home sales increase 16 percent

ARA: Home sales increase 16 percent

LITTLE ROCK, Ark. - The Arkansas REALTORS® Association  announced that September home sales were 10.28 percent higher than September 2010 while the average price of a home in Arkansas increased by less than 1 percent.  For the quarter (July - September), home sales increased 16 percent with the average price of a home in Arkansas decreasing almost 4 percent.

"As the Arkansas REALTORS® Association has been predicting, Arkansas home sales continue to be quite strong," said Amy Glover Bryant, Director of Communications for the Association.  "In the third quarter, Arkansas REALTORS® sold a total of 6,671 homes versus 5,719 in the third quarter of 2010.  Average prices during that time period were $143,944 compared to the third quarter of 2010 when the average price of a home in Arkansas was $149,430.  Affordability and strong mortgage rates are certainly helping to drive this year's improved numbers.  We do exp

HUD grants $769K for job training

HUD grants $769K for job training

Grants to 18 Arkansas public housing authorities are part of nearly $60 million HUD awarded nationwide

LITTLE ROCK – The U.S.

Bryant experiences boom in commercial development

Bryant experiences boom in commercial development

BRYANT, Ark. (KTHV) -- When jobs are hard to come by and the housing market continues to drop for many Arkansas communities, Bryant is blessed to have experienced an upward trend in our local economy.

In addition to the increased residential development we have also experienced, since January 1, 2011, an impressive expansion of commercial businesses here in Bryant.

According to the building permit records, Bryant has issued 35 new businesses licenses since January 1 to present date. These businesses range in a variety of services from automotive to restaurants.

It is exciting to see so many businesses choose the City of Bryant as their place to operate and serve.

Housing market sees positive numbers

(KTHV) -- Both the numbers of houses sold and the median price for sales grew in the Little Rock/North Little Rock market from June 2010 to June 2011.

But nationally, the numbers aren't as promising. The National Association of Realtors says home sales fell 0.8 percent last month to a seasonally adjusted annual rate of 4.77 million homes. Economists say that's far below the 6 million homes per year that must be sold to sustain a healthy housing market.

"It's just a beautiful place to live. Little Rock is a wonderful place. We have a lot of stuff to do. It keeps growing," says Joel Tvedten, owner of River Rock Realty.

Home sales down in central, northwest Arkansas

Home sales down in central, northwest Arkansas

The June numbers are in and homes sales were down in June.

Why? Numbers from 2008 through June 2010 were inflated by tax credits for first time and repeat home buyers. The July 2011 reports will be the first ones in a long time in which apples-to-apples comparisons will be possible. When that report is available, we'll start to get a better handle on how healthy housing markets in the state's two largest metro areas are or are not.

For a copy of the full reports for central and northwest Arkansas and some explanations as to why markets were still lagging in June, just click here.

ARA: Housing numbers down due to severe weather

ARA: Housing numbers down due to severe weather

LITTLE ROCK, Ark. - The Arkansas REALTORS Association released its April 2011 Housing Report this morning.  The report shows the number of homes sold in the 42 county area covered by the report were down 23 percent compared to the same month last year and that average prices for the month were down two percent.   Director of Communications for the Association, Amy Glover Bryant, attributes the decrease to the record amount of rainfall and severe weather the state experienced throughout the month of April and to the ending of the first time home buyer's tax credit.  “As we anticipated the 13 days of rain and severe weather Arkansas experience