Area home show parade includes 29 new homes

Showing off new construction trends, energy-efficiency practices and keeping people connected to a tepid residential real estate market are a few of the top goals of the Fall Parade of Homes that began Saturday (Oct. 16).

Organized by the Greater Fort Smith Association of Home Builders, the Parade of Homes will continue through the week and end Sunday (Oc. 24). The homes will be open from Noon until 6 p.m. each day of the Parade. (Link here for maps and more details on homes in the parade.)

The prices of the 29 homes in the show range from $109,900 to $425,000, and are located in Fort Smith, Van Buren, Alma, Lavaca, Greenwood, and Hackett.

“Many of these brand new homes feature the latest in green building technology along with the newest fashion in home design. Most homes will have the builder or a Realtor on hand during showing hours,” noted an association statement.

The association recently previewed its Showcase Home as part of the Fall event. The home, at 5512 Callaway Lane in the Williamson Place subdivision in south Fort Smith, is 2,180 square feet, with 3 bedrooms and 2.5 bathrooms. The $259,900 home comes with high-efficiency hot water systems, high-efficiency gas heating systems and a high-efficiency electric central system.

The new home construction sector in Fort Smith has been hot for most of the year. June marked four months of year-over-year gains in the number and value of new home construction in Fort Smith.
• August 2010: $2.923 million, compared to $2.092 million in August 2009
• July 2010: $1.878 million, compared to $2.425 million in July 2009
• June 2010: $5.159 million, compared to $2.261 million in June 2009
• May 2010: $4.789 million compared to $1.716 million in May 2009
• April 2010: $4.51 million compared to $4.49 million in April 2009
• March 2010: $5.976 million compared to $2.02 million in March 2009

A federal tax credit for first-time homebuyers is the primary reason for the strength, David Hughes, executive director of the Greater Fort Smith Association of Homebuilders, has said. The federal tax credit provided up to $8,000 for first-time home buyers and up to $6,500 to home buyers. Although there were exceptions for closing dates, the credit offer effectively ended in May.

However, the new home construction market has been off in Greenwood and Van Buren. For example, Van Buren issued 8 residential permits in September valued at $396,000, a big drop from the 27 permits valued at $1.72 million in September 2009.

Also, the number of new and existing homes sold during the January-August 2010 period in Crawford, Franklin and Sebastian counties totaled 1,242, down 2.43% over the same period in 2009, according to the Arkansas Realtors Association. The value of the homes sold in the three counties during the first eight months of 2010 totals $158.291 million, up 2.4% compared to the same period in 2009.

The Greater Fort Smith Association of Home Builders was established in 1955 as a local organization to promote housing. The Association has more than 200 local firms as members.