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87111 : Real Estate Advice

  • All16
  • Local Info0
  • Home Buying4
  • Home Selling4
  • Market Conditions0

Activity 266
Tue Jan 7, 2014
Alyce Martin answered:
According to our MLS this evening, the home on Big Sage went into pending on 4/2/12. It is a short sale.

To find comparable homes that are available, visit my site at http://www.HomeSearchABQ.com, plug in your data to preview homes that are currently on the market. Call me with questions or assistance. I would like to work with you to find your next home. ... more
0 votes 8 answers Share Flag
Fri Apr 6, 2012
Kevin Koppenhaver answered:
John,

This property is about 5000'-5200' above sea level. If you'd like to see it or I can help you in your search in any way, please call me at (505) 280-6231.

Kevin Koppenhaver
TuHacienda Realtors
... more
0 votes 4 answers Share Flag
Tue Apr 10, 2012
Rich Homer answered:
First step engage a Mortgage Broker and get pre-approved in writing. Second step, engage a Realtor and show your pre-approval letter. http://www.naplesrealestateguys.com/
0 votes 2 answers Share Flag
Tue Apr 3, 2012
Arthur Miller answered:
I have done a few renovations myself and I learn something new every time I get one done. While the project is underway it can be kind of trying but when you have a finished product it makes it all worth while... well there was that one time when the market fell apart and I was just happy to break even. ... more
0 votes 6 answers Share Flag
Mon Nov 30, 2015
Mei Cheng answered:
REC stands for Real Estate Contract. In another words, owner financing. In case Buyer is not able to qualified for bank loan, Seller is willing to finance for a period of time in exchange for a lump sum down payment plus interest paid periodically on the remaining balance. ... more
0 votes 8 answers Share Flag
Thu Mar 22, 2012
Leigh-Jo Anzures answered:
Does the land have utilities on the lot or in the area? Existing utilities or access to utilities can increase value.

Leigh-Jo
Syan Real Estate
Call/Text: (505) 730-8181
0 votes 2 answers Share Flag
Tue Mar 20, 2012
David Stafford answered:
Go to www.bernco.gov and look up public records. First go to tax assessor and look up by address to get legal description, then go to records lookup and punch in legal. Look for a lis pendens notice, which is first step (notice of default). ... more
0 votes 5 answers Share Flag
Wed Mar 21, 2012
David Stafford answered:
You need to check with your lender to determine which programs require how much time. Some require as much as 4 years since bankruptcy, but there may be others that have much less, but charge a higher interest rate. Your credit score will also be a determining factor. Check with Jason Pike at (505) 828-9400 and he can tell you right away. You may want to make a plan to improve your score if it is still too low. ... more
0 votes 12 answers Share Flag
Tue Apr 3, 2012
Blythe Camenson answered:
I strongly believe that the UNM/Nob Hill/Ridgecrest areas will continue to appreciate in the next 5 years. These neighborhoods are very popular and have held their own during the crunch. They offer older, charming homes, and steps to shops and restaurants. I also feel that the "edo" (east of downtown) and the downtown areas are going to see an upsurge. These have trendy areas that are also popular. And I can't wait to see the Mountain Rd corridor get more attention. If you'd like to have your own personal tour, just give me a shout.

Blythe Camenson
Century 21 Camco
505-450-7448
... more
0 votes 5 answers Share Flag
Tue Mar 6, 2012
Leigh-Jo Anzures answered:
IMPORTANT - Be sure to verify that the person leasing the property is the actual owner or is authorized to lease it.

If you haven't already heard, there are scams occurring by people who gain access to distressed properties. They take deposits and the monthly lease payments, then when the actual owner discovers what is going on, the scammed tenant has to move out, losing all the money they put up for the property.

Now, with that said. It's recommended that you have a real estate attorney review the terms of the lease. Be sure you completely understand the agreement because, you will be subject to these terms through the duration of the agreement.

Going back to my initial comment, if the deal is too good to be true, it probably is.

Leigh-Jo
Syan Real Estate
Call/Text: (505) 730-8181
... more
0 votes 2 answers Share Flag
Mon Mar 5, 2012
Leigh-Jo Anzures answered:
Buying a short sale is not the same as buying a foreclosure, HUD home, VA Home, new construction home or non-distressed property. There is a lot to consider.

1) Work with a local real estate agent who has actual experience in short sales. This can determine your overall experience and success in the transaction.

2) Understand that it can take a long time to close on a short sale. You can expect anywhere from a couple months to over a year. Determining if a short sale has been approved by the bank, can decrease the time it takes to close.

3) Understand that interest rates today, could be higher when you are actually ready to close since rates generally cannot be locked in until 30-45 days prior to closing.

There is so much more to consider when buying a short sale. For more information on short sales, go to: www.syan.com/shortsales

Leigh-Jo
Syan Real Estate
Call/Text: (5050 730-8181
... more
0 votes 2 answers Share Flag
Thu Mar 8, 2012
Leigh-Jo Anzures answered:
1) Get prequalified. While it is an exciting experience, it's important to follow the proper steps to home ownership. Getting prequalified will help determine your buying power. From loan type, down payment assistance programs and interest rates, prequalification can tell you volumes.

2) Work with a real estate agent that is experienced in the area you are interested in. He or she can assist you with finding the right home that matches your criteria.

3) During your purchase, don't run out and open new credit card accounts or lines of credit. Although you may have been prequalified, opening new accounts can hurt your credit score that could put you in a position where you are no longer able to buy.

There are many steps involved in buying a home. For more information, visit www.Syan.com for details on Foreclosures, HUD Homes, Short Sales and more.

Leigh-Jo
Syan Real Estate
Call/Text: (505) 730-8181
... more
0 votes 8 answers Share Flag
Sat Mar 3, 2012
Linda Coy answered:
If you are the buyer and are purchasing an existing home, the seller usually pays everything associated with conveyance of the property and you, as buyer pay all associated loan costs. Those loan costs are negotiable and can be negotiated. New rules for FHA loans, however, limit seller concession to buyers to 3% of the price of the home whereas 6% were previously allowed.

If that seems like a murky answer and you would like to discuss, I can be reached at the contact info here.

Linda Coy, CRS
Keller Williams Realty
9201 Montgomery Blvd, NE #101
Albuquerque, NM 87111
505-271-8200 x 5482 office
505-259-7477 cell
... more
0 votes 5 answers Share Flag
Fri Mar 2, 2012
Nathan Wolf answered:
Clean it. Keep it clean.

This is THE MOST EFFECTIVE way to increase the value of your home.

Buyers will stop focusing on things that catch their attention around your house, and instead focus on the house. Buyers will remember a house that is exceptionally clean and well kept and will associate that the rest of the house-- everything they dont see-- is also in good working order. They will assume that the seller has kept the house in excellent condition.

This also goes to the outside. Clean your yard. Clean your gutters. Clean your windows. A well kept house from the exterior gives a good impression to what to expect on the interior. People often slow down in front of my home and honk to say "I Love your House...." -- what they mean is they love that I keep a nice garden and yard and it has "curb appeal" -- because they have never been in my house. But if they did, they would find it is just as tidy. Everything in its place means that it has room and space for a new buyer -- should I ever decide to move.

********************
Give me a "BEST ANSWER" or "THUMBS UP" if this answered your question. Thanks!
*******************
If you have more questions: post them, email them, or call me 704-858-2345
... more
0 votes 3 answers Share Flag
Fri Mar 2, 2012
David Stafford answered:
Costs to close, make some changes after closing, and move seems to always be underestimated. There are tons of little costs that add up. If you have a good broker, there should not be any significant surprises. Occasionally, some turn up in inspections, but when nobody knew the problem existed, it is usually something that can be resolved by the seller. If you are not from Albuquerque and are buying here the first time, people sometimes do not realize the differences between investing in the west side and east side. Again, a good agent should ensure no surprises. ... more
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Sat Mar 3, 2012
Steve Quintana answered:
Consult with an expert...do some reading on the subject...make sure you take your questions to your expert..insure you know what kind of short sale you are dealing with...Avoid blowhards ... more
0 votes 17 answers Share Flag
Fri Mar 2, 2012
David Stafford answered:
If there is a gate around a community, I would call it a gated community. That gate definitely is a crime deterrent, however imperfect. You might take it up with the residents and HOA to get locks installed on the ped gates. I do not know of any firm guideline of any time, determining when you can use a descriptor a gated community. In this case, it sounds like a reasonable descriptor to me. ... more
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Fri Mar 2, 2012
Theodore Zmroczek, Ted Z. answered:
Hi Tom,

There was been more cooperation from lenders who are engaged in approving short sales. The process starts with the seller submitting your offer to the bank along their financial info, a hardship letter, an application and several other documents generated by the agent and title companies. Some Banks suchas the Bank of America have systems that can be monitored while the offer and the seller info is processed. It takes anywhere from 6weeks at the fastest to who knows what depending on the quality of the submitted docs and the offer itself. The Bank will ofter "counter your offer" leaving you with a decision to buy at their, price, resubmit another offer or walk away.

Please feel free to contact me for additional information at tedzmroczek@parginrealty.com


Thanx, Ted Z
... more
0 votes 6 answers Share Flag
Mon Apr 16, 2012
Steve Quintana answered:
Send me.your contact info and I will send it to a few.private lenders.
0 votes 2 answers Share Flag
Thu May 28, 2015
Ron Thomas answered:
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
0 votes 11 answers Share Flag
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