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87506 : Real Estate Advice

  • All5
  • Local Info1
  • Home Buying2
  • Home Selling0
  • Market Conditions0

Activity 56
Mon Jul 9, 2012
Tim Moore answered:
Unless you are buying with cash the bank or lender will require an appraisal that will have to be at or more than the contracted amount of they will not make the loan. If you are buying with cash, yes, get one. The $350 is good protection to make sure the price is fair. ... more
0 votes 8 answers Share Flag
Sat Jun 1, 2013
Arthur Miller answered:
If you are trying to list a house for sale I suggest you contact an Realtor that subscribes to Trulia.
0 votes 5 answers Share Flag
Mon Jan 9, 2012
Rose Lopez-Brown,CRS Rsps answered:
Hello Joanna, There were several sold in 2011. The latest sold was on 12/29 at $209,990K for a 4bdrm/2bath 1451 sq.ft. Please let me know how I may assist you best with your real estate needs.
I am available at 505-490-0615. --Rose
... more
0 votes 2 answers Share Flag
Sun Oct 6, 2013
Gil Ortiz JR answered:
That is a bit of a trick question, because remodels are tricky because of unknown factors such as structural damage, mold, extensiveness of reworking electrical and plumbing, meeting code and of course the level of cost and quality of upgrades. The best thing to do is pick your options on the upgrades and get three bids.I had a client that planned for a conservative residential remodel at $25,000 and it stopped at $40,000. Get a reputable contractor and sub-contractors to help reduce the risks and costs. ... more
0 votes 1 answer Share Flag
Mon Nov 21, 2011
Spence Ralston answered:
There are several variables, but just for budget purposes you might estimate $1 per square foot per month.
Condition, location, whether the cost includes utilities or not, are some of the factors that can cause the rental per square foot to go up or down from that guesstimate. ... more
0 votes 1 answer Share Flag
Fri Jul 13, 2012
Ron Thomas answered:
The "RECENTLY SOLD" heading; where?

Only the local MLS is automatically updated; most other references need input.
If this information is critical to you, I suggest you contact your Realtor and have them research it for you.

Good luck and may God bless
... more
0 votes 7 answers Share Flag
Mon Sep 26, 2011
Anna M Brocco answered:
If looking to sell, consider inviting a few local agents from different realty companies, ask for a cma, comparative market analysis, review the data, ask opinions, determine worth, and go from there; otherwise, any local agent/realty office can provide you the information, they all have access to the same information. ... more
0 votes 1 answer Share Flag
Fri May 4, 2012
Beverly Chapman answered:
I have two suggestions for you with regardfs to lenders. As a broker, I have done many FHA closings, if you'd like to use me! However, lenders, I have two favorites! Leroy Baca with Century Bank at 505-424-2877 or Arizona Wholesale Mortgage, Debbie Hodge at 505-983-4545. They are both GREAT at FHA loans! What else do you need specifically answered with regards to FHA? I'd love to help you! Beverly ... more
0 votes 4 answers Share Flag
Mon Apr 30, 2012
Suzanne Taylor answered:
Yes, there are many answers to Rancho Viejo, if you like that area and want to live there it is a great place to be. If you are an investor that is another story. Are you going to live there? For how long of a term are you thinking? ... more
0 votes 7 answers Share Flag
Mon Apr 30, 2012
Billingham Team answered:
Do you need a Realtor recommendation for Santa Fe? The commissions are almost always paid by the seller, so you could get an expert to represent you for free. Let me know if I can help you find one. Kwtrav@gmail.com.

-Travis
... more
0 votes 7 answers Share Flag
Fri Jul 13, 2012
The Santa Fe Team answered:
Erik-
Thanks for yuor e-mail! I am an investor freindly agent in Santa Fe! I've been a full time agnet here for 29 years and have broad experiance in may aspects of investmetn and development/construction. Here is my site if you want to get a better feel for me and my services: www.moothorpe.com.

Just let me know if I can help in any way!

Cheers- Moo Thor[e
... more
0 votes 6 answers Share Flag
Thu Feb 10, 2011
Anna M Brocco answered:
Since no link is visible and no development named, you may wish to ask your question again so that it can be answered accordingly.
0 votes 1 answer Share Flag
Wed Feb 22, 2012
Anna M Brocco answered:
Consider consulting with an attorney who specializes in real estate--he/she can best advise as to the addendum and possible options you may have--what is your agent advising...
0 votes 6 answers Share Flag
Sun Nov 14, 2010
Rich Cederberg answered:
To begin with Zillow is notoriously inaccurate, and since New Mexico is a non-disclosure state, the only data that Zillow has to create their zestimates is the sales data that agents choose to provide. Most brokers don't choose to do that so there is insufficient data. Even Zillow admits their Zestimates are inaccurate. I went to a Zillow presentation this spring and the Zillow representative touted how Zestimates were on average within 11% of the actual value. That's a wide margin of error and that's probably the margin in disclosure states where they have sufficient data. From what I've seen the margin of error in NM is even greater.

Sold data is difficult to find here in our state. Even if you stumble upon a website or web form advertising closed sales data they are usually providing estimates since they don't have the real data. Our MLS does not feed that data to websites like it does the home for sale information.

The only way to get the closed sales data is to contact a real estate agent. Once you are ready to buy and have selected a real estate agent they will be able to provide you with information on sold comparables. Until then beware the inaccurate data that's out there.
... more
0 votes 9 answers Share Flag
Sun Oct 3, 2010
Bill Eckler answered:
Hi Cat,

Your question is a good one....like most enterprises Zillow has strengths and weaknesses. You have unfortunately identified one of the later.

Essentially, Zillow views real estate in a particular area from the perspective of homes distance from a subject home......often not taking into consideration that there may be several very different types of communities within their perameters...usually a one mile radius.

Therefore to use their information with accuracy, it would be important to know the various communities and be able to organize the homes into groups from similar communities. Zillows resources are accurate...they come directly from the tax records...unfortunately, they do not have the ability to analyze a given location in the detail necessary to be able to provide solid values for homes......

In our opinion, one should take great care when considering services offered as "canned" reports. The best approach is to utilize a real estate professional that know and understands your target community.

Good luck,

Bill
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0 votes 2 answers Share Flag
Wed Sep 22, 2010
Steve Rizika answered:
Dear Cs:

Unless you can carry the costs for over a year I would not contemplate building such a home in this particular market. It could fly if you could sell from the 475 to 525 range and should be 1800+ square footage.

That is my 2 cents....anyone have something different to say?
... more
0 votes 3 answers Share Flag
Sun May 24, 2015
Victoria Murphy answered:
0 votes 9 answers Share Flag
Thu May 6, 2010
Spence Ralston answered:
It depends on the area within the zip code. I picked three of the most prevalent sections for your information:

Area Average List Price Average Home Size (Sq.Ft.) Avg. Cost/Sq.Ft.
Airport Road $233,162 1497 $158
Southwest $423,305 2092 $203
Southeast $866,034 2967 $294

Keep in mind that just several extremely low, or high-priced homes can skew the figures in either direction. Also, these are averages for single family homes only. I did not include condos, townhomes, etc.
... more
0 votes 2 answers Share Flag
Fri Nov 20, 2009
Don Tepper answered:
Sure. There are hundreds of such programs.

For good general real estate investing information, go to http://www.creonline.com

For real estate investing clubs in New Mexico, go to http://www.creonline.com/real-estate-clubs/nm.html

Hint: You don't have to pay thousands of dollars for programs or courses, though you'll find plenty that cost $995, or around there. And you'll find some expensive mentoring programs that cost $15,000 or more. Go to a few meetings of a few real estate investing clubs and get a feel for what's out there and what people are doing.

Hint: What you're specifically interested in is called wholesaling. That's putting a property under contract, then assigning the contract. You can put a property under contract for as little as a dollar--some investors routinely make offers with a $10 payment. You get a contract with the owner (with language protecting you in case you can't wholesale the property), then assign the contract to another investor, usually a rehabber. Depending on what the market's like where you are, you might make $5,000-$15,000, on average, per deal.

Hope that helps.
... more
0 votes 1 answer Share Flag
Sun Nov 14, 2010
Dan Chase answered:
Find another site. Trulia is just for properties that are for sale. Sorry, craigs list is good for what you want, trulia is the wrong entrance for the market you seek.
0 votes 4 answers Share Flag
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