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87144 : Real Estate Advice

  • All15
  • Local Info5
  • Home Buying4
  • Home Selling1
  • Market Conditions1

Activity 54
Tue Jul 21, 2009
Terrell Williams answered:
Unfortunately there's no easy answer to this other than "...it depends...".

It does feel like only those folks who have gotten in trouble - late payments, over-extended, etc., are getting breaks, doesn't it? I guess the idea was that folks in your situation would be able to "ride out" the downturn, continue making timely payments, and eventually be ok again in terms of equity. But meanwhile you'd be paying a higher interest loan, and losing twice, right?

There is no harm in contacting your lender and talking through the issue. Many loans are now eligible for renegotiation based just on the fact that you're upside down, and - this is important - based on the fact that you've encountered "financial hardship". In your case, maybe that means you can't get the rents you used to get on the rental properties (if that's what they are), or maybe it means something else... but surely you've experienced some sort of financial hardship, right?

That's what they're looking for - along with your desire to keep the property, and an ability to continue to make payments. If those three criteria are met, then (theoretically at least) you should be able to get them to discuss the issue of modifying your loan, at least in terms of the interest rate. Asking the bank to reduce the balance of the loan is probably much less likely though.

Good luck, and actually, if you do have this conversation with your lender (and especially if you succeed) I'd appreciate hearing from you to find out what happened.

Good luck!

Terrell
... more
0 votes 1 answer Share Flag
Mon Apr 6, 2009
Brandon DENT answered:
160 average days on the market in Rio Rancho for a houses around $300k.
0 votes 0 Answers Share Flag
Sun Sep 6, 2009
* answered:
Hi Andy,

Not sure why you do not want the information from a realtor. I hope it is not because of a bad experience. I am a realtor who lives and sells a lot of upper end homes in Rio Rancho. I am always giving out this information to members of my church and neighbors. You are not obligated for any market information through me. The board of realtors reported for June that Pendings in Rio Rancho is up 35%. Again I do not want to pressure and if you decied you want more info please just send an email. www.ColdwellBankerLegacy.com/Mark.Wingert ... more
0 votes 1 answer Share Flag
Sat Mar 28, 2009
Tracy and Tego Venturi answered:
Hi David -
There are no lot sales in the MLS for the past year in the SAD8 area by Vista Entrada. Lots in the Vista Entrada area are listed from $70k to $150k depending on location and utilities, but sales have been slow. If you have other questions let me know.
Tego Venturi
505-263-0556
http://www.WelcomeHomeABQ.com
... more
0 votes 1 answer Share Flag
Thu Aug 27, 2009
David Stafford answered:
NM is one of a handful of non-disclosure states, meaning we do not post real estate sales prices to public records, which can be frustrating I know. There are services that are now trying to entice the public to post their homes for sale and sales data when they do sell (like here at Trulia and at Zillow), where data is starting to amount to some value. Getting a license is not a bad idea, except that fees to access the MLS, which is where you can get the data you seek are over $1200 per year, so it just might not be worth it. Not sure if you have had a bad experience with a broker in the past but i can tell you many of the fly by night weak brokers in this business have had to move on to something else in this economy. It actually is a good idea in many ways to establish a relationship with a true local real estate professional. Do a little research to find out if they are actively buying and selling properties for themselves in this market - those will surely know the market the best. Ask about their formal education and for past customers you can contact. But most importantly ask about their business model and how you can work together. If they are innovative and collaborative, give them a shot! Email, text, or call me antyime - see website for contact info. Best of luck to you Vince! ... more
0 votes 7 answers Share Flag
Tue Jul 21, 2009
Lori Rossi answered:
The home may be in probate court if the homeowner did not have a will.
0 votes 4 answers Share Flag
Tue Jul 21, 2009
Sandy Gilman Weishaupt answered:
Hi Maria,
Thank you for asking a great question, especially in these difficult financial times! Your heating bill will be based not only on the size of your home, but on several factors including the the age of the home. For example, new homes are usually well insulated. Also, some homes have additional sources, such as a pellet stove to take some of the load from your heating bills. By the way, there are many ways to safely insulate and seal your home in the winter. If you would like, I will send you information on how to accomplish that.

Also, there are many, many homes on the market in Rio Rancho right now. I specialize in helping buyers find the right home for all of their needs. I would love to help you with your search, and I would respect your privacy if you would only like for me to send you information on some of the beautiful homes that are available right now.

Please feel free to contact me at any time!
Sandy Gilman
ePRO Realtor, ABR
Coldwell Banker Legacy
505-892-8900 office
505-891-6428 voice mail
505-250-9100 mobile
505-468-0902 fax to desktop
505-891-5485 or 891-5691 fax to office
SandyGilman@comcast.net
http://www.coldwellbankerlegacy.com/sandy.gilmanweishaupt
... more
0 votes 2 answers Share Flag
Wed Aug 19, 2009
Ashley Drake Gephart answered:
Even if you do reset the counter the history in the MLS will still show your house was on the market without selling. The important question to address is not how to reset the counter but why isn't your home selling in the first place? Is it over priced, has deferred maintenance, showing is difficult etc. Until you address the reason it is still on the market after 260 days pulling and re-listing will not solve the problem. ... more
0 votes 6 answers Share Flag
Tue Apr 22, 2008
Karen Wenzel, e-PRO answered:
D,
A large -Nationally recognized firm may have more opportunities for their agents to Network, in-house marketing departments, training and access to Relocation companies. Since the internet is a big part of marketing now, having a Company website that is professionally done - is a big benefit. Having a good Marketing System is important. That being said, you may find a very experienced Veteran agent at a small firm, the agent may have a very effective system to promote your property to the masses.
It all comes down to finding an agent that YOU are totally comfortable with - that listens to what your expectations are - and provides you with a marketing plan that you agree with.
Real Estate is not one-size-fits-all.
I have worked for several Real Estate companies in the last 30 yrs. Some were smaller independent companies, and others are Internationally recognized Companies. I chose to affiliate myself with a Internationally recognized company for the extensive support I get, and Company name recognition has helped in many cases with both Buyers and Sellers being more comfortable working with me. I personally network with agents from both my company and many agents from other companies in our area when promoting my listings.
You may want to interview agents from several companies in your area, just to see who is the best fit for you. All the Best!
... more
0 votes 14 answers Share Flag
Sun Apr 27, 2008
Infinity Realty Network answered:
Are other houses selling in your area, ask her to provide you with recent sales in order to make sure your price is still inline with market. Ask her for avg days on market. Communication is key, ask her whats going on? Reinterview her if you will.

Good Luck
... more
0 votes 8 answers Share Flag
Thu Feb 28, 2008
Mary Marcilla dba New Mexico Home Pros, Inc. answered:
Dear Mike,
I would be happy to provide you with our market analysis. May I contact you with this report? There is no charge for this service. Mary Marcilla, Keller Williams Realty, CRS, ePro MailTo:mmarcilla@comcast.net ... more
0 votes 2 answers Share Flag
Fri Mar 2, 2012
Mary Marcilla dba New Mexico Home Pros, Inc. answered:
Dear Joanne, In spite of the large amount of land available for sale in Rio Rancho, we are still finding a steady market. May I contact you with a market anaysis that I have prepared? There is no charge for this service. I hope to hear from you soon. Mary Marcilla, CRS, ePro, Keller Williams Realty - mmarcilla@comcast.net ... more
0 votes 3 answers Share Flag
Fri Mar 2, 2012
George Lowes answered:
Happy to give you a market anaylis. Need a little more info on your lot - how large is it? I live and specialize in marketing and selling properties in Rio Rancho. Let me know if I may help.
George Lowes, CRS,e-PRO, RE/MAX Alliance Realtors, geolowes@msn.com or 505-550-2037
... more
0 votes 4 answers Share Flag
Thu Feb 28, 2008
Ashley Drake Gephart answered:
There are a lot of them for sale but they are selling in a reasonable time. For more details contact me and I can email you or your friend a complete CMA. I currently have one lot for sale in Unit 25. ... more
0 votes 2 answers Share Flag
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