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 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 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 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 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.
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 Cabarrus County or anywhere in the Charlotte area CONTACT Cheryl Powell today at 704-363-8902. Let's get started finding your new home!
My husband was out running errands today, when he heard the bad news and called to tell me about it.
We all knew that it was coming, but in their 2007 original closing announcement Phillip Morris said they wouldn't be closing their Concord NC plant until the end of 2010. However, this morning Phillip Morris started notifying its employees that the plant would be closing at the end of July 2009! 1100 good paying jobs will be lost, and it couldn't be worse timing... since the February 2009 Cabarrus County unemployment rate was already 11.2%! The company cited a decrease in cigarette sales as the main reason for moving up the shutdown date.
Phillip Morris said that some employees would be kept on to shut down the plant, which could take into next year and some employees will be transferred to Richmond VA.
Hopefully, Phillip Morris will sell its 2100 acres and buildings to companies that will bring good paying jobs to our area... keep your fingers crossed that it will happen SOON!
Earlier this week, Dunkin' Donuts opened it's FIRST ever hotel location 
at the Great Wolf Lodge in Concord NC, a brand new indoor water park resort. The new Dunkin' Donuts and Great Wolf Lodge are conveniently located just off I-85, near Concord Mills Mall and Lowe's Motor Speedway.
According to the company's website, the Canton Massachusetts based coffee and baked goods chain is embarking on a major expansion effort into larger airport hotels, resorts and vacation ownership locations through the East, Midwest and Southwest regions of the country.
It's great to see new businesses opening in Cabarrus County, even in the midst of the economic downturn!
RE/MAX Gold moved to our new state of the art facility in Janurary 2009!
RE/MAX Gold agents offer our clients the best service available, by utilizing the latest in modern technology. Our comfortable conference rooms are equipped with large flat screen wall mounted monitors to easily view property information.
For clients who are interested in New Construction properties, we also have a one of a kind New Home Showcase Center. Searching for your new home could not be easier... A convenient location where new construction choices are all at your fingertips. You can find your LOCATION, your AMENITIES, your FLOORPLAN so that you can have the home that fits your specific needs.
Drop by and visit us at our new location - 6001 Gateway Center Drive, Suite 105, Kannapolis NC 28081. Our building faces Hwy 73 near the Kannapolis Parkway (George Lyles Parkway) and Hwy 73 intersection... right on the edge of Concord/Kannapolis.
For more information about RE/MAX Gold and the services we offer, CONTACT Cheryl Powell with The Powell Team at 704-363-8902 anytime to discuss your real estate needs.
If you are a Realtor looking to make a change... contact Cheryl anytime to find out what Remax Gold has to offer!
Visit the Town of Mount Pleasant Website
The town of Mt. Pleasant North Carolina, in the eastern part of Cabarrus County, is located 8 miles E of Concord, NC (center to center) and 25 miles NE of Charlotte, NC.
I know many Mount Pleasant residents who wouldn't want to live anywhere else, because they enjoy the slower paced rural lifestyle and the close knit nature of their small town... within a 30 minute drive of North Charlotte and big city conveniences.
The real estate market remains strong in Mt. Pleasant, because so many residents live there long term... therefore the demand for homes in Mt. Pleasant is higher than the supply of homes for sale. The Mt. Pleasant estimated median house or condo value was $181,291 in 2007 (it was $130,400 in 2000), as compared with the North Carolina estimated median house or condo value of $145,700.
Mt. Pleasant had a population of 1,554 in July 2007. The estimated 2007 median household income in Mt. Pleasant was $53,054 (it was $48,207 in 2000), as compared to the North Carolina estimated median household income during the same time period of $44,670. The 2008 cost of living index in Mount Pleasant was 83.7 (less than average, U.S. average is 100).
Check out Mount Pleasant North Carolina, where you can enjoy the best of both worlds... quiet small town living near all the big city amenities of Concord and Charlotte NC!
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Experienced Realtor serving buyers & sellers in Concord-Kannapolis-Harrisburg-Mooresville-Charlotte & surrounding areas.Resale & New Homes-Relocation-1st Time Buyers-Investors-Foreclosures-Short Sales
I started my real estate career in 2000 as a New Home Sales Representative and Office Manager for a local custom/semi-custom builder. During that time, I had the opportunity to work closely with several construction and finishing sub-contractors who were tremendously helpful in my home construction education. After that I accepted a position as Community Sales Manager with a National homebuilder. My new construction experience has proven to be extremely valuable in my real estate career and the knowledge I gained benefits my clients every day.
I had a strong desire to work with buyers and sellers as a general brokerage Real Estate Agent, so in 2002 I joined Allen Tate Realtors®, a successful regional real estate firm. I took advantage of the many educational opportunities afforded me and in 2005 I decided it was time to make a move and join RE/MAX, the world's largest and most successful real estate company! I look forward to long and rewarding real estate career, providing unparalleled service to my clients.
For more information about me or The Powell Team, please visit www.ThePowellTeam.net or www.CherylPowell.net, your one-stop sources for real estate information covering Concord, Harrisburg, Kannapolis, Mooresville, Salisbury and the entire Charlotte NC area. Contact Cheryl Powell
Education and Related Experience
Designations
ABR, the Accredited Buyer's Representative designation is the benchmark of excellence in buyer representation, awarded to REALTORS who meet specified educational and professional experience criteria.
Professional Affiliations
A RE/MAX REALTOR®
The Code establishes time-honored and baseline principles that come from the collective experiences of REALTORS® since the Code of Ethics was first established in 1913. Those principles can be loosely defined as:
I provide professional real estate services for Charlotte NC & the surrounding areas, including: Cabarrus County (Concord, Harrisburg, Kannapolis, Midland, Mt. Pleasant), Iredell County (Mooresville, Statesville, Troutman), Mecklenburg (Charlotte, Cornelius, Davidson, Huntersville, Matthews, Mint Hill), Rowan (China Grove, Kannapolis, Landis, Rockwell, Salisbury), and Union counties as well as the Lake Norman Area.
My specialties include:
Whether you are selling your home or searching for that special place to call your own, my local expertise & real estate experience will benefit you.
I pride myself on providing unparalleled service & look forward to developing a long-term relationship with you. Contact Cheryl anytime, to discuss your real estate needs.
Online Services
To get your Personal Home Search Website CONTACT CHERYL TODAY!
Click Here...Your Home's Value Instantly get an estimate of your home's current market value & receive a list of recent sales of homes similar to yours, compiled from local county records.
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"Cheryl was great through the entire process. From our first phone conversation to the closing on the house, Cheryl was extremely knowledgeable and professional. She has a great enthusiasm for her business! I appreciate her help and guidance through all the steps of buying my first home! Cheryl made it a great experience!"~ C. Pyatt
"Cheryl is easy to work with and has wonderful ideas for selling a home. I loved the visual tour she made. She is friendly and enthusiastic."~ I. Posey
"This was my first home buying experience and Cheryl was there for me all the way. We worked together for 7 months to find my house. She was extremely patient and willing to go anywhere I wanted to look. I would and already have recommended her!" ~ K. Ralston
"If a new house came on the market we knew about it ASAP! She told us everything you could possibly think of about the house/neighborhood. We were very pleased with Cheryl and as long as she's doing real estate, she is who we will use!" ~ T. and K. Clardy
"Throughout my years of involvement in real estate, I have never met a more professional agent than Cheryl Powell. She treated me in the way that she would want to be treated, with quality service, undivided attention and respect. I would recommend Cheryl to anyone who is looking for a quality oriented professional who is head and shoulders above the crowd. ~ J. Aguiar
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