Concord NC Remax Gold Real Estate Agent - Cheryl Powell's Blog

3036 Rockingham Lane - Southern Chase Subdivision - Concord NC

Sun, 09 Aug 2009 16:39:57 -0500

Open floor plan ranch with covered front porch & lots of upgrades.

3 Bedrooms
2 Full Baths
Built in 2001
Laminate floors in formal Living Room, Great Room, Kitchen & Dining Area
Great Room with wood burning fireplace & recently installed French doors with blinds between glass
Kitchen with GAS range, built in microwave, dishwasher and pantry
Formal Living Room
Master Suite has private bath with garden tub
Newly installed custom patio
This is a Short Sale, priced to sell quickly at $89,900

MLS#: 877930

For more information on this house or other homes for sale in Cabarrus County and Concord NC, or general information about Concord NC area real estate, call Cheryl Powell with The Powell Team at 704-363-8902 or visit www.ThePowellTeam.net

1532 April Knoll Court - Cabarrus Crossing Subdivision - Huntersville (Cabarrus County) NC

Sun, 09 Aug 2009 16:09:06 -0500

Short Sale opportunity to purchase this 4 Bedroom POOL COMMUNITY home at $32,160 below tax value!

4 Bedrooms
2 Full Baths & 1 Half Bath
2" Blinds throughout
Great Room
Kitchen with black appliances, lots of cabinets, pantry & breakfast area
Formal Living Room
Master Suite has walk-in closet & private bath with garden tub & sep shwr
Master Bath with garden tub & separate shower
Attached 2 car garage with door opener and keypad entry
Cul-de-sac lot
Conveniently located off Hwy 73 between I-77 & I-85
Low Cabarrus County Taxes ONLY!
Community POOL and playground
Priced to sell quickly at $129,900
READY TO MOVE IN

MLS#: 877212

For more information on this house or other homes for sale in Cabarrus County and Huntersville NC,or general information on Huntersville NC area real estate, call Cheryl Powell with The Powell Team at 704-363-8902 or visit www.ThePowellTeam.net

2009 First Time Homebuyer's Tax Credit Information- Hurry before it's too late!

Wed, 08 Jul 2009 14:17:51 -0500

If you are a First-Time Home Buyer or haven't owned a home in the previous 36 months, you may be eligible for an $8000 1st Time Home Buyer Tax Credit! You must close on your home purchase by November 30, 2009. Check out the information provided below or contact Cheryl Powell with Remax Gold at 704-363-8902 or cherylpowell@remax.net for more details.

Considering the bargain list prices on many homes, record low interest rates and the $8000 1st-Time Homebuyer Tax Credit... now is one of the best times ever to buy a new home. Hurry before prices increase, interest rates rise and the Tax Credit expires!

Cell Phone Resuscitation (or not)

Thu, 18 Jun 2009 10:22:07 -0500

Recently, my niece dropped her cell phone in a toilet.

Her initial dilemma was whether to reach for it (risking possible serious staff infection) or to let it go (risking a serious plumbing backup). Without regard to bodily infirmity, she dove in to retrieve the phone.

Now her dilemma was how to get it working again. Not being experienced in cell phone resuscitation, she decided to call her dad.

Her dad (my brilliant brother) suggested that she put the phone in an oven at a low temperature for 15-20 minutes to help dry it out. So she turned the oven on to 200 degrees and put the cell phone in for about 20 minutes. DON'T FORGET TO REMOVE THE BATTERY FIRST!

The bad news is that her cell phone could not be revived...:(

The good news is that it turned out more tender and flavorful than the shish-kabobs she cooked a couple of weeks ago!

8220 Chatham Oaks Drive - Concord NC - Poplar Woods Subdivision

Thu, 18 Jun 2009 00:30:48 -0500

Short Sale opportunity to purchase this spacious open floor plan home located in desirable Concord POOL COMMUNITY, at a great price!

4 Bedroom
2 Full Baths & 1 Half Bath
Full Brick Front
More than 2100 heated square feet
Large 2-Story Great Room with laminate flooring, wood burning fireplace, lots of windows & ceiling fan is open to loft above
Kitchen with pantry, electric range, built-in microwave & dishwasher
Dining Room with laminate floors
Main level Master Bedroom with walk-in closet, ceiling fan and deluxe private bath with dual vanity, garden tub & separate shower
Loft overlooking Great Room with built in shelves, ceiling fan and open railing
HUGE 19' x 19' Bedroom 4/Bonus Room
Main Level Laundry Room
Crawl Space foundation
Split Rail Fenced Back Yard
Attached 2 car garage
Tax value is $210,320
LOW Cabarrus County Taxes ONLY
Priced to sell quickly at $174,900

MLS#: 866647

For more information on this house or other homes for sale in Cabarrus County and Concord NC,or general information on Concord NC area real estate, call Cheryl Powell with The Powell Team at 704-363-8902 or visit www.ThePowellTeam.net

311 Valley Brook Lane - Concord NC - Stonebridge Townhome Community

Thu, 18 Jun 2009 00:09:30 -0500

Enjoy carefree living in this lovely townhome located near downtown Concord. Lots of upgrades and ready to move in!

2 Master Bedrooms
2 Full Baths & 1 Half Bath
Great Room with laminate floors, ceiling fan, decorative track lighting, crown molding & French doors leading to patio
Kitchen with upgraded raised panel oak cabinets, raised bar & all black appliances including refrigerator, smooth top range, dishwasher & built-in microwave
Dining Room with laminate flooring, bay window crown molding, chair rail & ceiling fan
Master Suite 1 with walk-in closet, crown molding, ceiling fan & private full bath
Master Suite 2 with ceiling fan & private full bath
Upstairs Laundry with Washer & Electric Dryer Included
Coverered front porch
10'x11' patio
Beautiful location w/trees & creek behind building
1-Car Attached Garage
1 Year Home Warranty Included
Priced at $129,900

MLS#: 865769

916 Harbour View Cove - Harbour Towne subdivision - Kannapolis NC

Wed, 17 Jun 2009 23:16:59 -0500

Short Sale opportunity to purchase this spacious open floor plan home at $35,000 below tax value!

4 Bedroom
2 Full Baths & 1 Half Bath
More than 2200 heated square feet
Large Great Room with electric fireplace, lots of windows & ceiling fan
Huge Kitchen with lots of cabinets, wide crown molding, window over sink, pantry & breakfast area
Formal Dining Room with crown molding & chair rail can be used as FLEX space to suit your needs
Master Bedroom with walk-in closet, double window & ceiling fan
Master Bath with dual vanity, garden tub & separate shower
Vaulted Bedroom 2 with walk-in closet & ceiling fan
Vaulted Bedroom 4/Bonus with spacious closet & triple window
Large Laundry Room with Washer & Electric Dryer Included
Mostly level cul-de-sac lot with lots of parking space & privacy fenced back yard
Attached 2 car garage
Priced to sell quickly at $139,900

MLS#: 865964

For more information on this house or other homes for sale in Cabarrus County and Kannapolis NC,or general information on Kannapolis NC area real estate, call Cheryl Powell with The Powell Team at 704-363-8902 or visit www.ThePowellTeam.net

200 S Rose Avenue - Mill Village - Near NC Research Campus in Kannapolis NC

Wed, 17 Jun 2009 12:39:45 -0500

Bungalow style ranch located in the heart of Mill Village...only .58 miles from the Core Laboratory at the new NC Research Campus.

2 Bedroom
1 Bath
Rocking chair front porch with newly rebuilt floor 5/09
Spacious Living & Dining Rooms w/hardwood floors
Kitchen w/skylight & refrigerator/range included
Hardwood floors in both Bedrooms
New water heater 1/09
Washer & Dryer included
Storage Building
1-Car Carport
Fenced Back Yard
Drastically reduced and now offered at a Short Sale price of $84,900

MLS#: 862287

For more information on this house or other homes for sale in Cabarrus County and Kannapolis NC, or general information on Kannapolis NC area real estate, call Cheryl Powell with The Powell Team at 704-363-8902 or visit www.ThePowellTeam.net

Thursdays on Main - Under the Oaks at Veterans Park in Kannapolis NC

Fri, 29 May 2009 17:17:29 -0500

Thursdays on Main is a lunchtime music series being held this May and June in Veterans Park - Kannapolis NC. The concert series is FREE to the public and features live music ranging from jazz to classical to big band music. Lunch will be available for purchase from downtown vendors, or you can bring your own.

Veterans Park is located at the corner of Main and E. First Street - Kannapolis. Bring your lawn chairs or blankets and join the fun from 11:30am to 1:00pm!

Music Schedule for the remaining performances:

June 4 The Mark Hoffman Trio Classical

June 11 The Chris Dixon Duo Acoustic/electric guitar

June 18 Southern Junction Country

June 25 Prime Time Community Band Variety of styles

Restaurant Schedule for remaining concerts:

June 4 46

June 11 Village Grill

June 18 DePompa's Comfortable Foods

June 25 Pizza Hut

*Bruster's ice cream will be for sale at every concert

For more information, contact the Kannapolis Parks & Recreation Department at 704-920-4343.

NC Research Campus Farmers Market - Kannapolis NC

Thu, 28 May 2009 20:09:54 -0500

The Farmers Market at the N.C. Research Campus, in Kannapolis North Carolina, opened for its second year on Thursday, May 7. It's a great way to support the local economy by purchasing produce grown within 100 miles of Kannapolis.

Live music is also provided to add to the fun!

Time: 4:00 to 7:00 pm, THURSDAY evenings beginning May 7, 2009 and ending October 29, 2009

Location: Kannapolis, NC - West A Street between the former Cabarrus Bank Building & Transit Damage Furniture

To view and print a flyer with all the details, click the following link: N.C. Research Campus Farmers Market

Mount Pleasant NC - School Information Resources

Mon, 25 May 2009 15:18:40 -0500

If you're considering a move to Mount Pleasant NC and would like more information about the public schools, check out the helpful links below.

Visit the Cabarrus County Board of Education website for important school information for Newcomers to Cabarrus County

Check out the NC School Report Card website to obtain comprehensive information about NC schools, including important information about student achievement, class size, school safety and environment, and teacher quality as well as demographic details about schools and districts.

CLICK HERE to research public, private, and catholic schools and districts across the country.

Garden Tour in Concord NC - Saturday May 30

Sun, 24 May 2009 20:08:53 -0500

On Saturday, May 30^th, downtown Concord will offer a tour of 6 private gardens, plus the one at the historic Forest Hill United Methodist Church. The tour route is 2 miles long, and can be walked or driven. Concord restaurants along the route will be offering samples from their menus to visitors. For more information read the Charlotte Observer article Concord opens its gardens.

Honor Fallen Heroes in Salisbury NC this Memorial Day

Sun, 24 May 2009 19:58:27 -0500

Memorial Day is the time for Americans to remember and give thanks to the men and women who have died while serving our County in the military service. If you live in the Piedmont of North Carolina and are looking for a place to pay tribute this Memorial Day, you may want to visit the Salisbury National Cemetery. This facility serves veterans in a 23 county area of the Central Piedmont Region of North Carolina.

The historic section of Salisbury National Cemetery was established by Confederate authorities to serve as the burial ground for captured Union soldiers incarcerated at the prison in Salisbury, and is located at 202 Government Road in Salisbury.

The Salisbury National Cemetery Annex is located behind the William "Bill" Hefner VA Medical Center at 501 Statesville Boulevard in Salisbury.

Let's not forget to honor all who have served and are currently serving in our Nation's Military Services on this Memorial Day!

$8000 tax credit as downpayment... HUD says program NOT killed!

Thu, 21 May 2009 11:58:03 -0500

According to my lender sources and The Arizona Herald article "HUD says bridge-loan program hasn't been killed", HUD is still moving forward with a plan to let first-time homebuyers use the currently available tax credit of up to $8,000 as collateral for "bridge loans" to cover the down payment on FHA insured mortgages.

According to the article, HUD spokesperson Brian Sullivan stated that the program details haven't been finalized and would not say when the bridge-loan program would be initiated, or whether it would be substantially different from what originally was announced.

Let's all keep our fingers crossed that this program will be approved... it might just be the shot in the arm that the real estate market and our economy needs to recover!

For background information regarding this potential program, read my previous blog post: HUD withdraws option to use $8000 tax credit as down payment... at least for now

US Treasury Department Announces Short Sale Plan

Thu, 21 May 2009 09:41:03 -0500

I recently read an article in the RE/MAX Times (a publication for RE/MAX Agents) regarding The U.S. Treasury Department, who recently unveiled a plan designed to streamline and encourage short sales. Under provisions of the newly created "Foreclosure Alternatives Program," the process will soon include standardized documentation, cash incentives to lenders and moving allowances for homeowners.

Here's a Treasury Department fact sheet about the plan, as well as a release from the National Association of Realtors. You may also want to read The New York Times story, headlined "Lenders More Open to Short Sales".

Many real estate agents avoid short sale listing and buyer transactions, because of the long, frustrating and often unsuccessful process. But, with distressed properties currently accounting for a large segment of US real estate transactions, I think it's time that all agents become more knowledgeable about short sale and foreclosure property transactions.

I've represented buyers and sellers of short sale properties for many years, and l'm very excited about this initiative to streamline the short sale process! If this program succeeds, it will save short sale listing agents a lot of time and help distressed homeowners get out of a bad situation in a more timely manner.

2009 Coca-Cola 600 in Concord this Sunday

Wed, 20 May 2009 10:50:27 -0500

Well, it was bound to happen. Given today's state of the economy, many people are travelling less and spending less on entertainment. An article in The Independent Tribune says that business at The Lowe's Motor Speedway in Concord has been "slower than usual". One vendor says that his business is off by 60%.

If you've been avoiding going to the races because tickets were sold out or you'd prefer not to fight the huge crowds, this may be just your opportunity. The Coca-Cola 600 will be in Concord this Sunday, May 24, 2009 and there are plenty of good seats still available. According to local media, there are also hotel vacancies near the track this race week.

HUD withdraws option to use $8000 tax credit as down payment... at least for now

Tue, 19 May 2009 12:07:37 -0500

There's been a lot of buzz in the real estate and mortgage industries about FHA allowing home buyers to use the $8000 tax credit as a down-payment. However, in this case the government giveth and the government taketh away!

Tuesday May 12, 2009, in an address to several thousand REALTORS® gathered at "The Real Estate Summit: Advancing the U.S. Economy," at the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo in Washington, DC, HUD Secretary Shaun Donovan said that FHA was going to enable home buyers to access the $8,000 tax credit at closing, so the funds can be used as a down payment. This was to be accomplished by allowing FHA's approved lenders to "monetize" the tax credit through short-term bridge loans, which would have allowed eligible home buyers to access the funds immediately at the closing table. FHA/HUD had also posted mortgagee letter 2009-15 (ML 09-15) on their website, which explained the program. CLICK HERE to read NAR's article about the announcement

However, according to several lender sources and information found on-line, later the same day Secretary Donovan's remarks were retracted and FHA/HUD removed the ML 09-15 from their website.

HUD doesn't mention the embarrassing misinformation anywhere on their website, so at least for now it seems that the reason for the program being withdrawn (or at least delayed) will remain unclear!

Here are some links to on-line articles that I found regarding HUD's change of heart...

www.thetruthaboutmortgage.com/fha-may-scrap-homebuyer-tax-credit-for-down-payment/

www.mortgagenewsdaily.com/05182009_first_time_buyer_tax_credit.asp

www.azcentral.com/arizonarepublic/business/articles/2009/05/18/20090518biz-downpayment0519.html

When a Buyer Changes From Conventional Financing to FHA or VA... AFTER CONTRACT

Thu, 14 May 2009 16:32:53 -0500

Recently I became aware of a real estate transaction where the Buyer decided to change from Conventional Financing to VA Financing, after the effective date of the contract. This Buyer didn't ask the Seller to contribute toward their closing costs. The Buyer decided that they wanted to get a VA loan, so their agent sent the FHA/VA Addendum to the Seller's agent requesting the Seller's signatures.

Here's the problem... VA loans prohibit Buyers from paying certain types of fees that are often charged by lenders, escrow companies, settlement agents, and title companies. They are called "non-allowable" fees. They still get charged anyway, but Buyers are "not allowed" to pay them. The result is that the Seller ends up paying them instead and their net proceeds from the sale are reduced. Non-allowable fees can vary by location... in this case the Buyer's non-allowable fees that the Seller is being asked to pay are over $1500!

So, with less than 2 weeks until closing, this deal may be dead. All because the correct financing type and required addendums weren't included with the Offer to Purchase and Contract.

In the State of North Carolina, if the Seller had already agreed to contribute at least $1500 toward the Buyer's Closing Costs, there would be no problem. Because, the NC Offer to Purchase & Contract states "Seller shall pay at closing $______ toward any of Buyer's expenses associated with the purchase of the property, including any FHA/VA lender and inspection costs, that Buyer is not permitted to pay, but excluding any portion disapproved by Buyer's lender.

I ALWAYS explain the additional Seller fees that may be incurred when a potenitial Buyer utilizes an FHA or VA loan, to my Seller Clients, when reviewing the Seller Net Sheet during the listing appointment. In this case the Seller was unaware of the additional fees involved if the Buyer utilized a VA loan!

Obviously, the Buyer in this deal should have determined the type of financing they intended to use BEFORE submitting an Offer to Purchase. But, it is our responsibility as Realtors to educate our Buyer and Seller Clients on such matters during each real estate transaction.

Have you encountered a similar situation? What do you think?

The BEST Mothers Day Present... Connor Brian Diven

Sun, 10 May 2009 13:29:44 -0500

My beautiful niece Tiffany Dawn Young-Diven gave birth to her first child today! His name is Connor Brian Diven, he weighs 6 pounds 14 ounces, is 19 inches long, and has strawberry blonde hair!

Tiffany is a very special young lady with a kind and loving personality. I know that she is going to be an AWESOME mommy!

Connor is the BEST Mothers Day present ever for his Mommy Tiffany, his Grandmas Robin and Sharon, all of his great grandmas, his aunts and everyone else who loves him!

Congratulations Tiffany and Chris on the birth of your adorable baby boy...

Chinese Drywall... What You Should Know

Sat, 09 May 2009 20:11:25 -0500

Chinese Drywall is a hot topic in the real estate business right now. Concerns about this product have been in the news and several government agencies are conducting investigations, including the CPSC (Consumer Product Safety Commission) and the EPA (Environmental Protection Agency).

Although a majority of the affected homes seem to be in Florida, the presense of drywall imported from China has been reported (but not yet confirmed) in 41 states. Many of the affected homes were built in 2006 to 2007, when an unprecedented increase in new construction occurred in part due to the hurricanes of 2004 and 2005. However, any home built or remodeled from 2001 to the present could have Chinese drywall. It is estimated to have been installed in over 100,000 homes in the United States.

Here is a list of common problems associated with Chinese Drywall and some clues for Real Estate Agents to look for:

Discoloration or corrosion of metals
Repeated air-conditioning failures
Corrosion of exposed wiring
Corrosion of plumbing components
Blackening of jewelry, ornaments, mirrors, and other metal items
Failure of electronic devices including smoke alarms, fire sprinklers and appliances
Sulfur-like or vinegar-odor which resembles the smell of rotten eggs
Health issues that may include irritated and itchy eyes and skin, difficulty in breathing, persistent cough, bloody noses, runny noses, recurrent headaches, sinus infection, and asthma attacks
Visual identification by checking the drywall labeling which may include: China" in red or black ink, "KNAUF" in black ink, or "C36" in red or black ink.

According to a local home inspector's email I recently received, "various options are being offered by testing labs to determine the drywall makeup and potential for outgassing. These tests run from about $500 to 600 per sample, for the analysis only. Some labs are requesting at least a 4-inch by 4-inch sample of drywall, wrapped in aluminum foil, be provided for analysis." Government agencies haven't yet made recommendations for testing or remediation of Chinese drywall.

Government agencies are still investigating potential long term health effects. For more information you may wish to read articles that can be found on the following page of the Consumer Product Safety Commissions's website: http://search.cpsc.gov/query.html?col=pubweb&charset=iso-8859-1&qt=chinese+drywall&x=6&y=11

Lawsuits have also started popping up everywhere!

What do you think about this issue? Please share any information that you may have concerning Chinese drywall.

BB&T's 100% Financing, No PMI Loan... "CHIP" or Community Homeownership Incentive Program

Sat, 09 May 2009 11:32:26 -0500

Since the mortgage crisis started in the Spring of 2008, 100% financing loan programs have become few and far between. Here are a few details of a relatively new program that BB&T is offering, it seems like a great program for qualifying buyers.

The program is called Community Homeownership Incentive Program or "CHIP" for short. Qualifying buyers can get up to 100% financing (NO MONEY DOWN) with NO PMI (Private Mortgage Insurance).

Loan amounts up to $417,000.00
Maximum income limits: 97% financing - $66,500.00, 100% financing - $53,200.00 household income. No income limits in HUD designated underserved areas. HUD designated underserved areas can be
Ratios: 33% housing, 41% total debt. Can go up to 45% with 720 credit score and no other debt
Term: 30 year fixed only
Homebuyer Education: Required
Can use approved down payment assistance program or qualified gift
Property: Single family residence, townhouse or condo
Minimum buyer contribution: $500.00
Reserves: 97% financing - one month PITI, 100% financing - two months PITI

To determine if a property is located in a HUD designated underserved area, which eliminates the income limit for this program, take the following steps:

Enter the property address here to get the census tract http://www.ffiec.gov/Geocode/default.aspx
Then go to Freddie Mac's Underserved Census Tract List (about halfway down this page) http://ww3.freddiemac.com/ds2/sell/affgold.nsf/frmStateOpenForm&State=NORTH+CAROLINA#0420.00

Buyer Credit Qualifications:

No 30 day delinquencies within the past 12 months. Derogatory credit must be explained. Collections may not have to be paid, but judgments must be paid off.
Student loan payments will not be counted in debt as long as payment will be deferred at least 36 months from loan closing.
For 100% financing, minimum credit score must be 660. No minimum for 97%.
Non-traditional credit sources can be utilized. Must be opened and maintained for 12 months. Minimum number is three sources of non-traditional credit.

Of course... Loans are subject to approval & this loan program can be modified or discontinued at anytime without notice.

Contact me anytime for more information about this program and for all of your real estate needs. I look forward to helping you find your new home!

Old Courthouse Community Theatre in Concord NC... Presenting "Run For Your Wife"

Wed, 29 Apr 2009 09:37:43 -0500

If you've been looking for something different to do, check out the Old Courthouse Theatre's production of "Run For Your Wife". This is a comedy LIVE theatre production about a cabby who has two wives.

Old Courthouse is a Community Theatre that was founded in 1976... celebrating its 33rd season. It is an all volunteer organization that provides live theatre productions. The theatre is located at 49 Spring Street NW in Concord NC.

They will kick off the season with an OPENING NIGHT WINE TASTING, where patrons will have a chance to taste KST Georgian all natural wines. Doors will open at 7:00 for snacks and wine and the show starts at 8:00.

Performances will be held at 8:00pm on April 30 and May 1 ,2, 7, 8 & 9, as well as 2:30pm on May 3 & 10.

The cost is $15 for Adults, $12 for Seniors, and $10 for Students

For more information call 704-788-2405, email oldcourthousetheatre@ctc.net, or visit their website at www.oldcourthousetheatre.org.

Rowan County & Salisbury/Kannapolis NC - USDA Rural Development Home Loans

Wed, 29 Apr 2009 07:43:23 -0500

Since News Channel 36 did a report on USDA Rural Development loans last week, it has been a HOT topic in our area. I've helped my clients utilize this program for years, so I decided to share the basics concerning USDA Rural Development loans in Rowan County North Carolina.

The USDA Rural Development agency (yes, the United States Department of Agriculture) has two different loan programs, Direct and Guaranteed. Eligibility for both types of Rural Development loans is determined based on household size, income and the buyer's credit worthiness. Both programs are 100% (NO DOWN PAYMENT) loans with NO MORTGAGE INSURANCE. FHA loans and Conventional loans with less than 20% down payment require mortgage insurance, which is based on your loan amount and added to your payment each month... so no mortgage insurance is quite a savings to buyers.

The Rural Development Guaranteed loan program is for low to median income buyers. In Rowan County (as of April 20, 2009) buyers with 1-4 member households can make up to $73,750 and buyers with 5-8 member households can make up to $97,350. Buyers apply for this loan program with an approved lender (not with the agency directly). For more details about the Guaranteed loan program, read my blog USDA Rural Development Guaranteed Loans... One of the Few 100% LTV - No PMI Loans Available or contact me directly anytime.

The Rural Development Direct loan program is for low and very low income buyers and subsidizes the mortgage payments of qualified individuals. I've personally seen buyers purchase a home with a full total payment of approximately $800 per month, but they paid below $500 per month (approximately $300/month subsidy). For more details about the Direct loan program read my blog USDA Rural Development DIRECT Loans - Subsidized Payment Loan Program or contact me directly anytime.

The biggest catch with Rural Development loans is that the home must be located in an "Eligible Area". In Rowan County that means the property can be located in "County tax ONLY" areas, China Grove, Rockwell, Granite Quarry, Cleveland and Faith. The city limits of Salisbury, Kannapolis and Landis are NOT eligible areas. To check a property address for program eligibility click the following link... Rural Development eligible area.

If you are interested in purchasing a home using a USDA Rural Development loan, I can set up a Personal Home Search Website for you, that will target homes located in areas that are eligible for a USDA Rural Development loan. I have extensive experience helping buyers purchase a home using both of the Rural Development loan programs.

So, if you are looking for a home in Rowan County or anywhere in the Charlotte area CONTACT Cheryl Powell today at 704-363-8902. Let's get started finding your new home!

Iredell County & Mooresville NC - USDA Rural Development Home Loans

Sat, 25 Apr 2009 18:23:27 -0500

News Channel 36 did a report on USDA Rural Development loans last night. It said that the program is "little known", but I've known about it and helped my clients utilize the program for years.

The Rural Development Guaranteed loan program is for low to median income buyers. In Iredell County (as of April 20, 2009) buyers with 1-4 member households can make up to $73,600 and buyers with 5-8 member households can make up to $97,150. Buyers apply for this loan program with an approved lender (not with the agency directly). For more details about the Guaranteed loan program, read my blog USDA Rural Development Guaranteed Loans... One of the Few 100% LTV - No PMI Loans Available or contact me directly anytime.

The biggest catch with Rural Development loans is that the home must be located in an "Eligible Area". In Iredell County, the ENTIRE county is eligible EXCEPT for the city limits of Statesville... even the city limits of Mooresville is an eligible area! To check a property address for program eligibility click the following link... Rural Development eligible area.

So, if you are looking for a home in Iredell County or anywhere in the Charlotte area CONTACT Cheryl Powell today at 704-363-8902. Let's get started finding your new home!

Cabarrus County & Concord NC - USDA Rural Development Home Loans

Sat, 25 Apr 2009 10:46:32 -0500

News Channel 36 did a report on USDA Rural Development loans last night. It said that the program is "little known", but I've known about it and helped my clients utilize the program for years.

The Rural Development Guaranteed loan program is for low to median income buyers. In Cabarrus County (as of April 20, 2009) buyers with 1-4 member households can make up to $76,750 and buyers with 5-8 member households can make up to $101,000. Buyers apply for this loan program with an approved lender (not with the agency directly). For more details about the Guaranteed loan program, read my blog USDA Rural Development Guaranteed Loans... One of the Few 100% LTV - No PMI Loans Available or contact me directly anytime.

The biggest catch with Rural Development loans is that the home must be located in an "Eligible Area". In Cabarrus County and the Concord NC area that usually means that the house must be located within a "County Tax ONLY" area. However, the USDA eligibility maps haven't been redrawn for severl years, so some areas of Cabarrus County that are now subject to city taxes are still eligible for a Rural Development loan. To check a property address for program eligibility click the following link... Rural Development eligible area.

So, if you are looking for a home in Cabarrus County or anywhere in the Charlotte area CONTACT Cheryl Powell today at 704-363-8902. Let's get started finding your new home!