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87105 : Real Estate Advice

  • All6
  • Local Info0
  • Home Buying4
  • Home Selling1
  • Market Conditions0

Activity 6
Tue Apr 12, 2016
Juan Marquez asked:
Me and my wife to be pay way over 1300$ a month in rent with ease and really want to find a home we can buy. I make 75,000 to 80,000 a year by my self..
0 votes 0 Answers Share Flag
Mon Oct 12, 2015
Scottjohnson1432 answered:
Like most people have said refacing your kitchen cabinets and floors will most definitely increase the value of your home. But I would also heed the advice of some of the sales agents on here and have your house looked over first. A nice kitchen isn't the only thing that sells a house. When my wife and I sold our old house we ended up having to redo both the kitchen and the bathroom beforehand. ... more
0 votes 11 answers Share Flag
Sat Apr 5, 2014
tai answered:
I have a investment home in Rio Rancho which I bought for $204k and the vaule now is from $150-160k . The property was vacant for 4 months (no renter). I owned the 1st loan $149k and 2nd loan $10k . Should I go for short sale or regular sale? I am planning to stop payment to the bank and let it go.95 ... more
0 votes 13 answers Share Flag
Mon Apr 9, 2012
Steve Quintana answered:
Are you asking:

1. How long does it take for a seller to get from beginning to the end of a short sale, or

2. How long it takes a buyer to put in an offer and then get to closing on a short sale?

Those are two completely different time frames and get two completely different answers.

If you want accurate information tailored to your question please contact me directly so we can have an organized discussion.
... more
0 votes 7 answers Share Flag
Tue Oct 11, 2011
Realestate answered:
I'm sure you have been answered by now but the bottom line is, you have to pay rent. Because you don't have a rental agreement you are on a month to month and they can give you a 30 day notice to vacate.

Wish the people that answered prior would have some guts instead of just saying 'talk to an attorney'.
... more
0 votes 27 answers Share Flag
Wed Jan 28, 2009
David Stafford answered:
It is usually possible, but depends on a number of variables. How many months behind are you? It typically takes about 4 to 6 mos for the foreclosure process in NM, though that depends on the aggressiveness of your lender. Have you received a notice of lis pendens? That will be your first formal public notice that they are proceeding with foreclosure. The most important thing you can do is open a dialogue with your lender. Do not stick your head in the sand and hope it will go away. It varies from lender to lender, but many are willing to modify loans now - negotiate new and better terms for your loan. Alternatively, if you are willing to sell, many lenders are willing to take the proceeds from a legitimate sale (lenders almost always require real estate broker involvement) as full satisfaction, even if it is less than what is still owed. How long have you owned your house? If more than 4 years, you likely have some equity and may be able to sell and even make enough money help find a new place for you and your family. In either sale case, you need to price aggressively to sell quickly. If a notice of lis pendens has been recorded, you have likely received a large number of letters from investors. Some of these can actually help, but you must be very careful of these options as there are a number of scams out there and, regrettably, many unscrupulous "investors". Be extremely cautious and get professional help on your side if dealing with any of these folks. My answer is getting longwinded, but the most important thing I can say (again) is that you need to have frequent open communications with your lender to resolve this. You might also want to get an experienced local real estate professional involved as a consultant in order to help determine which of these options is best for you. Best of luck to you BJ! ... more
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