How Long Does It Take To Buy A Home In Albuquerque? You may wonder how long does it take to buy a home in Albuquerque? This question is not quite as easy to answer as you would think. The first step in the home buying process to meet with a lender and get pre-qualified or pre-pproved for a mortgage. You can get pre-qualified in a few days if you have good credit. You can skip this step if you are a cash buyer. Find an Experienced Realtor The next step in the home buying process is to find a great real estate agent to help you purchase a home. Find a real estate agent that you trust and … Continue reading...
Should I Buy A Short Sale Home In Albuquerque NM
Buy A Short Sale Should You Buy A Short Sale Home Before we answer if you should buy a short sale home in Albuquerque we need to explain what a short sale is. Many Albuquerque home buyers may ask "What is a short sale?" First thing to understand is a short sale does not mean it takes a short time to get the deal done. A short sale means the lender that carries the mortgage will receive a short payoff. A short sale occurs when a home is worth less than the mortgage on the home and the costs to sell the home. Important Factors To Consider Before You Buy A Short Sale A short sale must be … Continue reading...
Should I Have My Home Inspected Before I List It Albuquerque
Should I Have My Home Inspected Before I List It You may be wondering if should I have my home inspected before I list it in Albuquerque NM. In most cases, homeowners should have their homes professionally inspected before listing the home to sell. However, most homeowners do not want to pay the expense upfront before listing their home. It is customary for homeowners to pay for home inspections in the Albuquerque real estate market. Some homeowners want to wait to receive an offer before they pay for a home inspection. Many homeowners feel they are saving money by waiting for an offer to … Continue reading...
What Is The First Step In Home Buying Process Albuquerque
What Is The First Step In Home Buying Process Albuquerque NM I am often asked "What is the first step of the home buying process in Albuquerque. For most home buyers, the first step of the home buying process is to get pre-qualified for a mortgage. Getting pre-qualified for a mortgage is the first step in the home buying process unless you are paying cash for your next home. Why do I need to get pre-qualified? Quite simply, unless you are paying cash, you must qualify for a mortgage. Mortgages for homes are heavily regulated by the federal government and you need to find out if you meet … Continue reading...
What is PMI or Private Mortgage Insurance? Albuquerque
What Is PMI? Private Mortgage Insurance, Albuquerque Real Estate You found the right place is you want to understand what is PMI or Private Mortgage Insurance. There are many types of mortgage products on the market at any one time. In Albuquerque there are mortgage products that allow you to purchase a home with as little as $500 down payment. FHA or Federal Housing Administration allows home buyers to purchase a home for 3.5% down payment. Lenders are concerned about whether or not they will be paid back when they make a mortgage to a home buyer. PMI or Private Mortgage Insurance is a … Continue reading...
5 Best Performing Albuquerque Real Estate Markets 2015
5 Best Performing Albuquerque Real Estate Markets 2015 You have probably heard the saying all real estate is local. That statement is absolutely true in the Albuquerque real estate market. I took a look at the Albuquerque real estate market and the Albuquerque real estate sub markets to determine which markets performed the best. We looked at the sub markets with the largest increase in average price of homes sold. Listed below are the 5 best performing Albuquerque real estate markets 2015. The average price of a home in the Albuquerque real estate market was 1.47%. However, several … Continue reading...
38% Of Rio Rancho Properties Sold Are Distressed In 2013
38% Of Rio Rancho Properties Sold Are Distressed In 2013 This is hard to believe but 37.8% of all homes sold in Rio Rancho in 2013 were distressed properties. This is one of the significant challenges for home prices in Rio Rancho. A distressed property is any home that has been foreclosed on by the bank. Short sales are also considered to be distressed properties. A short sale occurs when a bank agrees to allow the home to be sold for an amount less than is owed to the bank on the home. Many bank-owned homes and short sales need repairs and as a result, will sell for less than market … Continue reading...
Home Owners Under Water On Their Mortgage Declines
More Good News For Home Owners Under Water On Their Mortgage Home prices have been on the rise across the United States and New Mexico is no exception. Core Logic's Equity report was released today and there is good news in the report. The second quarter report for 2013 states that across the United States, home price appreciation helped 2.5 million home owners return to positive equity. Although 7.1 million home owners or 14.5% in the United States remain under water. Both of these numbers are good news and compare favorability over the first quarter 2013 report. According to Core … Continue reading...
Interest Rates Has Increased Dramatically In Last Few Months
Interest Rates On The Rise Interest rates have risen dramatically in the last few months and this is not good news for any one. The federal government has been purchasing about $85 billion per month on the bond market. These huge purchases were artificially keeping interest rates low. A few months ago the Federal Reserve Chairman claimed the US economy was strong and they will reduce the amount of bonds being purchased by the Federal Reserve. you might be saying so what! How will this impact me? Well, rising interest rates are not good for the economy. Everyone one and every company … Continue reading...
Albuquerque Home Prices Up Rio Rancho Home Prices Down
Albuquerque Home Prices Up | Rio Rancho Home Prices Down Average home prices in Albuquerque were on fire in June 2013, average Albuquerque home prices were up 9.49% compared to June 2012. Albuquerque sales volume was also up by a staggering 23.35% in June 2103 over sales in June 2012. The average sales price has climbed steadily in Albuquerque for the last three months. Albuquerque homes that are priced right sold 4.84% faster in June 2013 than in June 2012. The average time for a home to be placed under contract was only 59 days in June 2013. It is amazing to me how fast the … Continue reading...