Wednesday, January 22, 2014

USDA loans, financing woes, oh my!

Ya know what's cool about this time of year?

The weather! Monday's temps? 47 degrees Fahrenheit. Yesterday? 10 degrees F and today a windy 27...ah, the effects of weather like this make peoples crazy, cars act funny and animals refuse to come out of the barn.

Also makes my profession, real estate, a bit of a dance on the razor's edge. First a client calls and calls, texts and texts to see this and that then cancels as the wind picks up and the mercury drops. Tis okay by me...I need the time to blog.

I've got a fabulous new listing: MLS 323552 on my website:

I've been trying to post photos here but Google Blogger is on the fritz about letting me upload the photo. I'd think it was my computer but I've noticed others are, too, being held up by the Blogger here. All in all, though, can't complain too much about a free site to blog.

Speaking of free. I've gotten word from two bankers that the USDA will not be cutting Rural Development (or RD) funding for homes along the Route 13 corridor. There had been talk that that part of SoIL was going to be considered as one "mass population area" meaning: too populated to be considered rural thus no funding for RD.

From the email of USDA:

The appropriations bill for Fiscal Year 2014 has been signed into law.  Section 737 includes a provision that no appropriated funds may be used to make rural area map changes this FY: None of the funds made available by this Act may be used to reclassify any area eligible for rural housing programs of the Rural Housing Service on September 30, 2013 as not eligible for such programs. 
This means that areas that would have become ineligible will remain eligible until September 30, 2014."

So you can see: we have funding until at least September 30, 2014.

What this means? If you're thinking of listing your home, let's get crackin' cuz time's awastin'. I need listings. I'm getting calls from buyers and have not much to show them. I have been calling on FSBO's and knocking on doors, but, seriously? If you're curious? Call me.

It also means buyers need to get your financials together PDQ so if there are a few blemishes on the credit scores, you'll have time to sort that out before the September deadline.

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