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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.

Foreclosure rates decrease in LR Metro area

Foreclosure rates decrease in LR Metro area

LITTLE ROCK, Ark. (KTHV) -- A new housing report out Monday indicates foreclosure rates in the Little Rock-North Little Rock-Conway area are falling.

These figures – coming from CoreLogic – show foreclosure rates in November 2011 at nearly one and a quarter percent.

Down from this same time last year, that rate is also lower than the national foreclosure rate, which still sits at almost three and a half percent.

The report also says homeowners are having trouble keeping up with their house payments.

The local mortgage delinquency rate is over five and a quarter percent – more than it was at this time last year.

Foreclosure rates fall

Foreclosure rates fall

LITTLE ROCK, Ark. (KTHV) -- A new housing report out today indicates foreclosure rates in the Little Rock-North Little Rock-Conway area are falling. These figures – coming from CoreLogic – show foreclosure rates in October 2011 at nearly one and a quarter percent.

Down from this same time last year, the rate in the area is also lower than the national foreclosure rate.

That rate still sits at over three and a half percent.

The report also says homeowners are having trouble keeping up with their house payments.

The local mortgage delinquency rate is over five percent – more than it was at this time last year.

Foreclosure rates drop, homeowners still struggling

Foreclosure rates drop, homeowners still struggling

LITTLE ROCK, Ark. (KTHV) -- A new housing report out today indicates foreclosure rates in the Little Rock, North Little Rock and Conway areas are falling, despite the fact many are behind on their house payments.

These figures – coming from CoreLogic – show foreclosure rates in September 2011 at nearly one and a quarter percent.

Down from this same time last year, the rate is also lower than the national foreclosure rate. That rate still sits at almost three and a half percent.

However, the report also says homeowners are having trouble keeping up with their house payments.

The local mortgage delinquency rate is nearing five percent – more than it was at this time last year.

'Clean Lines, Open Spaces' premieres tonight on AETN

'Clean Lines, Open Spaces' premieres tonight on AETN

 

“Clean Lines, Open Spaces: A View of Mid-Century Modern Architecture,” a new documentary produced by the Arkansas Educational Television Network (AETN) will premiere tonight at 9 p.m. on AETN.

“Clean Lines, Open Spaces,” produced by AETN’s Mark Wilcken, focuses on the construction boom while the United States recovered from World War II, a time of optimism and hope for the future. Mid-century architects captured these feelings in their bold new designs, many of which reflected the International style that had been developing in Europe since before World War I. This new architecture used modern materials such as reinforced concrete, glass and steel and was defined by clean lines, simple shapes and unornamented facades.

“‘Clean Lines, Open Spaces’ is unique and challenging,” AETN Executive Producer Carole Adornetto said.

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

Camden native, UCA grad joins Homebuilder's Association

Camden native, UCA grad joins Homebuilder's Association

LITTLE ROCK, Ark. -- The Homebuilder's Association of Greater Little Rock is proud to announce the hire of Sara Reeder as the new Membership and Marketing Coordinator. Her first day was September 19.

Prior to joining the HBA-GLR team, Sara worked as an outside sales representative for Kraft Foods for the state of Arkansas. Sara has the energy, experience and enthusiasm to hit the ground running and to be a great asset to the HBA.

Sara hails from Camden and graduated from the University of Central Arkansas with a degree in Public Relations.