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Arkansas' large-market home sales fall in April

Arkansas' large-market home sales fall in April

Homes sales in large markets in Arkansas fell in April to the lowest point they’ve been in that month in at least the past seven years.

Monthly homes sales data wasn’t tracked in Arkansas before 2005. April 2012 sales in central Arkansas, the Fort Smith area, the Jonesboro area and northwest Arkansas were lower than any previous April since 2005.

Michael Pakko, chief economist for the University of Arkansas at Little Rock Institute for Economic Advancement and state economic forecaster, said he was surprised by the April numbers but said monthly totals should be taken with a grain of salt.

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Arkansas Realtors Association ordered to pay $150k to Springdale company

Arkansas Realtors Association ordered to pay $150k to Springdale company

After a five day trial, a jury returned a verdict at about 10 p.m. on Tuesday night ordering the Arkansas Realtors Association (ARA) to pay $150,000 to a Springdale-based software company.

On May 11 last year, Real Forms Arkansas filed a breach of contract action against the ARA. Real Forms alleged the trade group reneged on a five-year contract to provide custom real estate forms software to Realtors throughout Arkansas. The ARA filed a counterclaim, alleging Real Forms was in breach because the company failed to provide a software package that protected the private data of parties to real estate transactions. Furthermore, the ARA alleged the software did not function properly.

ARA: Housing market bounces back in Arkansas

ARA: Housing market bounces back in Arkansas

Arkansas REALTORS Association Reports Outstanding February
Arkansas Up/Even in Every Tracked Category

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.

Housing Authority gets new name, new identity

Housing Authority gets new name, new identity

Agency Commits to Giving Every Street a Neighborhood, Making Every House a Home