Springtime at the Recca House, an $8,000 Tax Credit and USDA Rural Development Loan Program - NO DOWN PAYMENT!

Finally, the trees are all leafed out, the garden is in and proliferating and the pine tree pollen is GONE! Spring is in full force and effect and we're loving it.

Spring is traditionally one of the busiest times of year for the real estate business as folks are up and moving around and planning ahead for the future. Many families put their homes up for sale in April and May in order to get it sold, and a new



one purchased and settled into before the kids start school in August or September.

If you are thinking of finally taking that giant leap and either purchasing your first home, or - selling your existing home and relocating to beautiful North Carolina, here are two programs that we believe may be of interest to YOU:

USDA's Rural Development Loans and the new $8,000 IRS Tax Credit.


TAX CREDIT:

Qualifying taxpayers who buy a home this year before Dec. 1 can get up to $8,000, or $4,000 for married filing separately. “For first-time homebuyers this year, this special feature can put money in their pockets right now rather than waiting another year to claim the tax credit," said IRS Commissioner Doug Shulman. “This important change gives qualifying homebuyers cash they do not have to pay back.”

This year, qualifying taxpayers who buy a home before Dec. 1, 2009, can claim the credit on either their 2008 or 2009 tax returns. They do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date. They can claim 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately.
Here is the IRS website that has all the details on the newest tax credit.
http://www.irs.gov/newsroom/article/0,,id=204672,00.html

And if you’re not a first time buyer, why not take advantage of the USDA Rural Development Loans?

USDA RURAL DEVELOPMENT LOANS:

For many the mention of USDA conjures up thoughts of farmers, ranchers, and regulations related to the safety of meat, poultry, and egg products.Indeed USDA is committed to helping farmers and ranchers and their associated industries, but the agency does much more to assist Americans of all backgrounds in many ways.In fact, more and more Americans are taking advantage of USDA's programs designed to bring housing, modern facilities, telecommunications, and safe drinking water to unincorporated rural areas, towns, and cities with lower populations.One of the housing programs gaining popularity is the USDA Guaranteed Rural Development Loan, a program with unique benefits to assist individuals and families acquire homes.

Here’s a link to the USDA Rural Development Loans website if you’d like more information
http://www.rurdev.usda.gov/rd/index.html

Give us a call – let’s talk about what either of these two programs can do to assist you in making your dreams of owning your Carolina Dream Home come true.