Just as other Realtors have said to you, I don't have a crystal ball either. But my gut feeling is that 3-5 years is a long enough time for the market to recover. I'm already seeing some good signs in the Albuquerque market.... more
Living in the North East of albuquerqueI'm from a big city and this part of town gives me that feeling of being back home. My family and I enjoy dining out and there is plenty of restaurants to do just
Fortunately, in California the lender has to write it by law for most of the sales.
Its would be a good idea to first show the approval letter to an attorney where you can find the language is actually written in some code or not. If the letter directly speaks that it doesn't provide the wavier then write a letter to lender requesting and indicating the hardship condition of borrower and inability to pay after the sale even in deficiency.
This might at show the lender the possibility of recovery and then they shall decide. As you know it shall depend on lender and we can only request them. If lender figure out that they have the possibility to recover some amount then shall not give you something like that mostly in Investment properties.
I think this might help somewhat.... more
Your first step is to get in front of a reputable lender, who can take a peek at your financial status (pre-qualification), and let you know what price range is best suited for your income and debt ratios. They will also be able to tell you if there is anything that might hinder a home purchase, and help you avoid any surprises in your credit history that you might not even be aware of. Once you have cleared this all important hurdle, the next step is to find areas of town that you would like to live, and finally, start looking at properties in those areas that fall into your price range. While you are getting pre-qualified, you can customize a search on our website, tailor it to your needs & desires, and it will even notify you when new matches come onto the market. Happy hunting!
Brian & Dawn Fossa
You are not saying what the Deed Restriction is:
Some are added previously that continue with the property, such as a life/lease or a restriction to build certain types of businesses on the property.
Most Deed Restrictions nowadays are put there by HOAs who limit you on the color you paint the exterior or the type of roof you use.
Need more information.
It sounds like you are trying to buy without the guidance of a Realtor.
Good luck and may God bless... more
Unconfirmed what property you are speaking of UNLESS it comes direct from MLS many times postings on other sites may not be updated. MLS is not the real estate automatic feed to Trulia. Posted per agent .
Have your buyers agent complete required investigation to answer your question(s).
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
In the last 20 years Albuquerque has seen steady growth, only seeing a loss once (2% in 2001 I believe). In my opinion, even the national market (excepting those areas that were/are WAY over inflated) will not go down. Real Estate has historically always been a great investment, and I sincerely believe it will stay that way.
However, if you feel that you could sell now, and walk away with a healthy profit you may want to way in the risk-vs-potential gain. If you are going to sell in the sort-term (less than 2 or 3 years) How much gain would be worth the risk? In my opinion, in our market 5 - 10% growth in the short term is probably the best you could hope for. I'm sure you would invest your profits, likely in an investment more stable than real estate. How much interest would be gained on that investment? If you were to subtract that rate from my guesstimate, are you looking at enough profit to "chance it"?
If you would like to have coffee and let me play devils advocate for both sides of your decision, it would be my pleasure!
Josiah 505-288-1527... more