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Articles tagged with: home buyer tax credit

Business, News, Real Estate »

[26 Sep 2011 | No Comment | 2,160 views]
Sales up, prices down again in central Arkansas

It’s not exactly a trend yet, but the expanded August housing market report for central Arkansas shows that prices were up and sales were down for the second straight month.
Before getting into that, it’s important to point out that we’ve expanded the central Arkansas housing market reports we post monthly at First Arkansas News by adding a couple of counties — Jefferson and White.
Those two counties aren’t in the proper Little Rock-North Little Rock-Conway Metropolitan Statistical Area (MSA), but they are close enough to the region to be relevant to …

Business, News, Real Estate »

[18 May 2011 | One Comment | 1,699 views]
Central Arkansas homes sales down in April, too

We’ve already seen that homes sales in northwest Arkansas were down in April.
The same is true of markets in central Arkansas. According to Cooperative Arkansas Multiple Listings Services (CARMLS), there were 636 single-family, new and existing homes sold by Realtors in Faulkner, Grant, Lonoke, Pulaski and Saline counties last month. That’s down 32.05 percent from 936 homes sold in April 2010 and down 6.06 percent from 677 homes sold in April 2009.
Furthermore, homes sold in April sat on the market for an average of 88.73 days before sellers purchased them …

Business, News, Real Estate »

[25 Jan 2011 | 2 Comments | 2,327 views]
Central Arkansas housing market down for December, year

In spite of slightly improved numbers in December, the central Arkansas housing market last year lagged considerably behind sales in 2009.
What weighed on the market last year? A sluggish economy obviously took its toll on sales in 2010 and a high unemployment rate didn’t help things either — Arkansas closed out 2010 with a 7.9 percent unemployment rate, which is up from 7.6 percent recorded at the end of 2009. Perhaps the largest factor impacting sales was the expiration of federal tax credits for first time and repeat home buyers.
Last …

News »

[15 Jan 2011 | No Comment | 1,229 views]
Week in review (1/9-1/15)

It was quite a busy week here at First Arkansas News.
There was so much going on, in fact, that it wouldn’t be a surprise if some of our regular readers missed a thing or two. It’s a true shame to miss an article or two, so we’ve made it easy for people to keep up with the latest posts on this site. You can follow First Arkansas News through our RSS feed, on Facebook, through Twitter or through daily email updates (click the appropriate link to keep up through any …

Business, News, Real Estate »

[15 Jan 2011 | One Comment | 1,614 views]
Comparing ‘apples to apples’ in the housing market

Comparing housing market numbers has been a bit of a chore over the past few months as results from 2008 through the first part of 2010 have been skewed.
Let me explain. From April 2008 through April 2010, tax credits were available for home buyers. Economists have, in general, agreed that the tax credits increased demand for homes. During that two-year period, then, sales were well above what they would have been had the tax credits not been in place.
Additionally, the demand present during those two years was – in a …

Commentary, Politics »

[1 Dec 2010 | One Comment | 2,247 views]
Editorial — NAR weighs in on proposal to scale back mortgage interest deduction

Remember that draft report from the National Commission on Fiscal Responsibility and Reform that the National Association of Realtors (NAR) told us not to take too seriously a few weeks ago?
That draft has become a full-fledged final report due to be considered by the commission on Friday. The Commission released the report today, prompting the NAR to go from it’s previous “nothing to see here” mode to warning that a reduction in the mortgage interest deduction could further damage still struggling housing markets.
Before getting into all of that, it’s important …

Business, News, Politics, Real Estate »

[4 Aug 2010 | 2 Comments | 1,699 views]
Lincoln says $700 million coming to Rural Development in Arkansas

U.S. Senator Blanche Lincoln (D-Ark.) issued a press release Tuesday stating that the United States Department of Agriculture’s Rural Development Program will receive the authority to guarantee $700 million in home loans in rural parts of Arkansas.
While the aforementioned news release is full of the expected election year back-patting and bragging, perhaps Lincoln deserves an accolade or two on this issue. She, after all, has pushed for increasing more loan guarantees for Rural Development since April when it became obvious the program would run out of money far before the …

Features and such »

[11 Jul 2010 | No Comment | 1,287 views]
Home buyer tax credit extension approved, but what about Rural Development?

Home buyers got some good news at the first of July – the deadline to close on transactions for those wanting a tax credit was extended by Congress to Sept. 30.
Of course, we’ve been operating under one tax credit for home buyers or another since 2008. The most recent credit gave eligible new buyers up to $8,000 and repeat buyers up to $6,500.
People wanting to take advantage of that credit were instructed to get homes under contract before May 1 and close on them before July 1. According to the …

Features and such »

[3 Jul 2010 | 6 Comments | 2,293 views]
The home buyer tax credit isn’t over for military personnel, others

For most people, the first time and repeat home buyer tax credits ended after April 30.
The government has made an exception for certain military personnel and other people stationed away from home. Those individuals have an extra year to file for and receive a first time or repeat home buyer tax credit.
The people who have an extra year to receive a credit are members of the uniformed services, Foreign Services or are employees of the intelligence community and were on qualified extended duty for at least 90 days during the …

Business, News, Real Estate »

[1 Jul 2010 | One Comment | 1,245 views]
Arkansas homes sales up in May

According to the Arkansas Realtors Association (ARA), homes sales in Arkansas were up sharply in May.
There were 2,524 single-family homes sold by Realtors through multiple listings services in the Natural State in May — up 14.16 percent over 2,211 sales in May 2009. The average sales price in May was $149,382 — down slightly from $149,454 a year ago.
Click here for the Microsoft Excel version of the May housing market report from the ARA and here for the PDF. You’ll find some commentary on the report here at the ARA’s …