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Home Buying in New Mexico : Real Estate Advice

  • All51
  • Local Info7
  • Home Buying23
  • Home Selling7
  • Market Conditions2

Activity 360
Wed Apr 17, 2013
Matt Templeton answered:
I would always be leary of the online calculators no matter what site they are on. There are so many variables in what your payment will be. It depends on loan type, amount down, credit score, taxes on the property, age of the property (for insurance), and more. I have a couple good lenders that I think have really competitive rates and costs. Would you like a recommendation? Call or text me at 5053010694. I'm Matt Templeton with Re/Max Alliance. ... more
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Mon Apr 15, 2013
Alex Uranga answered:
I have a beautiful home in Chaparral NM . 1020 Shiprock
4 bed 4 bath plus huge office. Rv Parking 3188 Sq ft for only $360,000
0 votes 2 answers Share Flag
Fri May 3, 2013
Mei Cheng answered:
Unfortunately, bank these days are very tight in lending. I suggest you work with a credit repair company to move up the score and started saving for the downpayment. In the meantime, you can try to find properties with owner financing. In this case, you'll need decent downpayment and pay a higher interest rate for a short few years while you build up your credit. ... more
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Tue Mar 26, 2013
Fred Garcia asked:
1-100,100 being best. It suggests that there is a dangerous amout Radon in the water. Is this true? Cant find any answers.

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This question was asked from this property: http://www....
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Mon Mar 25, 2013
Mary Padilla answered:
HI Pat,
The bank generally has a "dated" bid period where they allow all bids to come in from "owner -occupancy buyers" first. They use that 3 weeks or so to collect and review all of those bids. If they are not happy with any of them, they won't select one and they will extend the time frame for accepting bids. If yours expired and the property is still listed, that could be exactly what happened. They don't take the highest bidder. They weigh it all out, the type of loan, whether it's cash, and any other factor that the buyer might be asking for. You can always bid again.

Best regards,
Mary Padilla
YES! Realty
http://www.trulia.com/profile/httpYesRealtyNewMexicocom/recommendation/
... more
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Thu Jul 11, 2013
Margie Salame answered:
Hi Desmondra,
Typically you can call or visit the records department of the nearest police department and obtain the crime statistics for the zip code or neighborhood that you have in mind. You should also be able to go online and find the department of highway patrol's website for the Sex Offender Registry. As a former police officer, I understand the importance of buying a home in a community in which you feel safe. That said, I would still take precautionary measures such as always keeping windows and doors locked, trimming shrubs so they don't afford criminals a hiding spot, and keep a light on in the front and back yards at night. Crime can happen anywhere and you want to take all the measures that you can to reduce the odds of becoming a victim. Last but not least, please guard your personal information very carefully and avoid posting such on social networking sites. Never post and avoid telling others, except a trusted relative or friend, when you are going to be gone from home for an extended period of time. I hope this helps. Best wishes to you. ... more
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Mon Mar 18, 2013
Patrick Willard answered:
That's a nice home, I saw it awhile back.
How did you lose your home? Did the lender foreclose? Did you do a short sale? Was it a normal sale? This will affect your credit and that affects your being able to qualify for a mortgage. How's your credit been since the chapter 7?
It's probably going to be pretty tough qualifying for a mortgage just 15 months after a bankrupcy and if you had a foreclosure it's going to be awhile longer before you can get a mortgage.
You can possible buy on owner financing but that is a small percentage of the market so you'll have limited selection and you will probably need 10-20% down. Also most owners that sell on owner financing will only carry short term, 2-5 years is typical, so you may still have to qualify for a mortgage in a couple of years.
I have a lot of experience with owner financing and I would recommend meeting with a mortgage lender to see how close you might be to qualifying and what you need to do to get there, even if you decide to try to find an owner financed home. Many years ago I was working with a lady that wanted to buy on owner financing. She had a credit issue that I knew would probabhly take 4-5 years to clear before she could get a mortgage. She wanted to make an offer on a property that the owner would only carry 2 years. I tried to talk her out of it but she didn't listen and bought it through another broker. She put $20,000 down and lost it two years later when she could qualify to refinance.
From one Vet (Army 82-86) to another thanks for your service and best of luck.
Feel free to contact me with any questions or to help. No pressure, no obligation.
... more
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Thu Mar 21, 2013
Max Sklower answered:
Buyers are usualoly are unrealstic in their expetations but they have the WEDGE. Sellers are mostly unrealistic in what they think they can get for the property. The GOOD realtor, like Me, Max Sklower in Albuquerque will have done sufiicient research to convince the Seller what is a price that will MOVE the property. Contact me, Max Sklower at: realtyperson@gmail.com or call me at 800-888-3581. Max Sklower in Albuquerque, Owner/Broker of Broadcast Realty, LLC. ... more
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Mon Mar 18, 2013
Regina Marnett answered:
Hi Laurence,

A quick check of the mls system shows there are currently no homes or land parcels for sale on Puntilla Dr. One property cancelled its listing in February of this year and there was one closed transaction on that street last year.

Are you watching the Tablazon neighborhood specifically? I am a Tijeras resident, live and work on this side of the mountain full-time. I'd be happy to visit with you about the area a bit more in depth...

Enjoy your day and thanks for posting on Trulia!
... more
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Sat Jun 15, 2013
Ron Thomas answered:
First of all; thanks for serving!

Now, consider that you make an Offer, get accepted, and you'all open an Escrow:
Then, three weeks from now, you see another house that you like better; so you just walk away from this one. Nothing to stop you!

What would you say, if YOU were the Seller?
Who's going to pay the $495 Escrow fee?

The Good Faith Deposit has nothing to do with the Financing or even CASH.
... more
0 votes 7 answers Share Flag
Sat Aug 17, 2013
answered:
Land itself (as opposed to property with a home already on it) will require a different type of loan. It would not qualify for conventional financing, and not a lot of lenders offer it.

The product you need is called a lot loan.

You can check around with some banks and they may be able to help you.

Best of luck!
... more
0 votes 3 answers Share Flag
Mon Dec 23, 2013
Joe Brooks answered:
It is never too early to start planning. 1st is to identify a trusted Realtor to work with. Next identify a lender to get prequalified or at least find out what you need to do to be prequalified before you look at homes. I would be glad to assist you anytime. Call or email me.
Joe Brooks
505 977 3474
joebrooksrealestate@gmail.com

Your real estate expert.
... more
0 votes 11 answers Share Flag
Fri Mar 15, 2013
Marie-Claire Turner answered:
you can ask an agent like me to put you on a receiving list but sometime the best homes do not hold open house. Please feel free to contact me via my website. marie-claireturner.com
0 votes 9 answers Share Flag
Sat Feb 23, 2013
Steve Quintana answered:
The information you are asking for requires a lot of work and expertise. If you are interested in going down this road give me a call to discuss your situation.
0 votes 3 answers Share Flag
Thu Feb 21, 2013
Mona Romero answered:
Absolutely! We have tons of listings that cover your requirements! Email me at: sales@abqhomehelpteam.com and I will sent you listings to take a look at!
0 votes 13 answers Share Flag
Mon Feb 18, 2013
Billingham Team answered:
I'm a broker in Albuquerque so I am not too familiar with the Ruidoso market, but I would recommend hiring a local professional. It is free to you and you will get a local expert. Can I help you find a good agent there? ... more
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Thu Apr 25, 2013
Tina Lam answered:
You might be able to get a mobile home with that. Work with a local lender to see if you'd qualify.
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Sun Feb 10, 2013
Carrie asked:
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This question was asked from this property: http://www.trulia.com/property/3101702526-105-Settler-Ln-Carrizozo-NM-88301
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Mon Feb 11, 2013
Jerry Halpern answered:
Yes this home is on 1.04 acres in the resort and has a membership as a requirement. Located 3 minutes or so to the west of Lowe's grocery. Call with other questions. cell 505 603 2378
work 575 377 1192. Thanks, Jerry Halpern ... more
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Fri Feb 8, 2013
Luanne Beginski answered:
If you send me your e-mail address I will send you one.
Luanne Beginski
Garland Real Estate D, LLC
575-546-5323
luannebeginski@gmail.com
0 votes 1 answer Share Flag
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