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    2014 housing market in Arkansas

    7:16 AM, Jan 24, 2014   |    comments
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    LITTLE ROCK, Ark. (KTHV) -- Bill Goodwin with Delta Trust Mortgage joined us this morning to talk about what's going on with our local housing market and comment on these historically low interest rates.

    1. 2013 was all about low rates. What are the people in your industry talking about in 2014?

    Home prices are starting to stabilize in Central Arkansas and appraisals seem better in areas where they were once tougher. {Bill to expand on the comments here}

    2. So is it still a good time for Arkansans to buy?

    There are a lot of programs out there that make it a great time to buy a home in Arkansas. The state is offering first time buyers a $2,000 tax credit. There are income restrictions but the great benefit is this credit isn't just a one-time occurrence - you receive the credit every year you own the home. And certain areas in the state do not even have income restriction. This is a great program that many people are not aware of.

    3. What other programs are out there that Arkansans might not be aware of?

    The Rural Housing program is another great example. This program was created to assist home buyers purchasing real estate in areas declared rural by the US government. In Arkansas, many areas that we consider urban are actually considered rural by the government. Cabot and Benton are both examples of area's deemed rural by the government. There are eligibility requirements, but it's a great program for Arkansans to check out.

    4. How easy is it to actually buy a home right now? We hear a lot of negatives about all the red tape involved these days.

    This is a question that I hear all the time. The public's perception is that buying a home a very difficult and that the process is just awful. That's really not true...it's not easy, but it's not near as difficult as people would imagine. There is a lot more paperwork and documentation than there was ten years ago but that's my job...to help talk you through everything and evaluate your situation.

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