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Articles tagged with: homebuyer tax credit

Business, News, Real Estate »

[25 Jan 2011 | 2 Comments | 2,318 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 | 1,223 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 | 1,608 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 …

Business, News, Real Estate »

[16 Dec 2010 | One Comment | 2,997 views]
Real estate market ‘soft’ in northwest Arkansas

The real estate market in northwest Arkansas was still suffering from a tax credit hangover in November as sales dropped 41.9 percent compared to the same month a year ago. Through November, sales were down 9.8 percent in northwest Arkansas for the year.
A smallish graph showing November’s numbers is listed above, but do yourself a favor and grab a larger report — click that headache-inducing graphic for a larger one, click here for the Excel version of the November housing market report for northwest Arkansas or here for the PDF. …

Commentary, Politics »

[1 Dec 2010 | One Comment | 2,240 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 | 1,694 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 …

Business, Real Estate »

[7 Jul 2010 | One Comment | 2,813 views]
Home Buyer Tax Credit Extended; Mortgage Rates At 54-Year Low

ROGERS — First-time home buyers have more time to close the sale of a home to qualify for a federal tax credit, and to get interest rates that have not been so low since Elvis Presley was an unknown singer.
The federal home buyer tax credit has been extended and banks and other lenders have slashed interest rates to further stimulate home buying, said Bruce Castleberry, community outreach coordinator for Credit Counseling of Arkansas’ Fayetteville office.
The average interest rate for 30-year mortgages hit a 54-year low in the third week of June, …