Through the Neighborhood Stabilization Program, eligible buyers can receive a deferred forgivable loan of up to $20,000 for a down payment on a foreclosed home if the mortgage holder will sell the home for less than its appraised value. Additional assistance may be available for renovations. The foreclosed home must be in a census tract which has incurred or is projected to incur a high rate of foreclosure. The program is open to first-time home buyers and those who have not owned a home for at least three years. The loan would not have to be repaid if the buyer owns and lives in the house for at least 20 years. Eligible buyers must have a house under contract by July 18, 2010, to participate in the program.

The Neighborhood Stabilization Program, which Congress approved in 2008 to assist communities with high rates of foreclosure, has given Winston-Salem and Forsyth County $2.625 million for the program. This program, , which is being funded by the Department of Housing and Urban Development through the N.C. Department of Commerce.

Read the entire article at DigTriad.com

If you are a first time home buyer looking to buy a foreclosure in the Winston Salem area, give me a call/text (336-287-4423) or email and request my Free Foreclosure HOT List with ALL of the freshest foreclosure listings for sale.  It would be a privilege for me to help you fulfill your dream of owning a home.

Buena Vista is one of the most desirable neighborhoods in Winston Salem. You don’t get an opportunity to buy a foreclosure in this neighborhood very often (currently the only foreclosure).  This home has a totally re-modeled kitchen with new cabinets and granite counter tops, and is near move in ready. (Kicking all the spiders to the curb is job one! Ha! Spiders love an empty home).  The home has plenty of room with over 3000′ of heatable space. There are 3 bedrooms, 4 baths, .57 acre, finished basement, and lovely hard wood floors.  This REO (bank owned) property has been recently reduced $20,000.  It’s priced at $329,900 and is over $50,000 below tax value.

There are currently 87 listings in Buena Vista with a median price of $425,000.  16 homes have sold here in the last 6 months with a median sales price of $317,500 and an average “days on market” of 87 days.  Give me a call if you need a buyers agent and would like to view this property.  Call/text me at 336-287-4423.

Google Map (with street view) of 843 Wellington, Winston Salem in Buena Vista

Here is a great investor deal on a foreclosure in Winston Salem, NC.  It’s a 3 bedroom, 2 bath, and approximately 1100′.  It needs $8k – $10k in repair, and the ARV is $110,000.  Call Tony if you are looking for a good deal in Winston Salem.  336-287-4423.