Friday, September 20, 2013

Kernersville USDA Eligibility Ending!

One of the best and one of the last 100% loan programs in our area, the USDA Rural Housing program has shifted it's boundaries to reflect population changes in the Triad.  Since the most recent census, those of us in the real estate industry knew that the maps would be redrawn, as areas, that historically have been considered rural, moved into suburban or urban categories.  However, for the past several years, we have been out of the line of sight and enjoyed using this program in areas such as Kernersville, Reidsville and Eden.  Per the most recent maps, some of those areas will no longer be eligible.

That leaves a definite void for buyers who have had the option to use this 100% product.  It appears that one of the last traditional 100% loans will be the VA loan. However, you must be a veteran which again limits buyers' options.  There are several credit unions that offer a 100% product but it can come in the form of an adjustable rate product OR have other stipulation that was not as attractive as the USDA loan.

This could be a sign that the overall housing market is continuing to improve or at least appears to be in Congress' eyes.  As a Realtor who uses this product quite a bit in the Kernersville area, I definitely see it having an impact on buyer's options and sellers ability to sell to a larger market of buyers.

It appeared that the new maps would take effect October 1 and that buyers in the pipeline before that point would be grandfathered in.  However, a recent development shows that December 1 is the new deadline meaning that IF you are considering a purchase in the Kernersville area AND would like to use and are eligible for the 100% USDA program, you need to act quickly.  As always, if you do not have a relationship with a Realtor, please call or email me and I will be happy to assist you in finding suitable property and working you through the process with a reputable lender.


Fall Fun!

It's that time of the year in the Triad where activities abound and this weekend is one of those opportunities!  It looks as if the weather will hold for most of the outdoor activities, which includes the Winston-Salem Air Show.  The air show is always an amazing display of aircraft demonstrations, hands-on activities, food and fun!  The show does tend to get crowded and parking is sometimes hard to find, but usually if you drive to the end of Fairchild, there is free parking and it's a short walk to the main area.

If music is your thing and you're looking for something to do Saturday night, come out to Bucked Up Super Saloon and check out a CD release party for Johnny Mont.  John Montgomery is one of our agents' sons and he has created quite the buzz with his own material and homegrown vocals.  It appears he's the real deal and what a great opportunity to catch him local before he goes BIG TIME!!

If crafts and cars are more your speed, you can check out the Triad Ladies' Civitan Classic Car and Craft show, which is all day Saturday off of Bodenheimer Street in Kernersville.  The event will take place in the parking lot of New Beginnings Church.  Plenty here to do and see, and the perfect time to get an early jump on Christmas shopping!

Several children's consignment sales are going on this weekend and next in and around Winston and Kernersville.  These always have some great finds but get there early or try to score "preview" access for the best bargains!

These events are just a sampling of what our community has to offer...share with us what you're up to this weekend or in coming weekends!!