Tijeras Real Estate and East Mountain Property

Looking for homes on the East side of the Sandia Mountains is always an adventure! The entire area really makes you forget that you are only 20-45 minutes away from from the heart of Albuquerque. A majority of the homes in this area are surrounded by beautiful pine and piñon trees with several aspen sprinkled throughout. During the fall season these aspen turn bright orange and golden yellow! There is actually an area within the East Mountain named "Firecraker Canyon" due to the one week out of the year that mother natures puts on an amazing show of colors! At times you could swear that you are looking at a painting. If this area were to be filmed (and I am sure it as) it would be easy to believe that special effects were involved.


Locating East mountain homes for sale in Albuquerque can be a challenge but that is a good thing! When people decide to move to this side of the mountain there main objective is to get away and get secluded. The different areas within the mountain include Paako, Sandia Park, Tijeras and Edgewood. If you continue to travel East you will find yourself in the town of Moriarty.

There are several local places to eat and drink within these separate communities. The people you will find here are friendly and very proud to live on the "east side". The different style of homes found vary from (but not limited to) Pueblo, Northern New Mexican and, of course, Log Cabin. Be sure and visit Tijeras homes for sale, Paako homes for sale, Sandia park homes for sale and other Albuquerque Homes for sale at www.TheAlbquerqueRealEstateGroup.com. Enjoy the Video!

Nob Hill Albuquerque Homes

I love showing Nob Hill homes for sale! It is one of my favorite places in Albuquerque. The homes are great to see mainly because the people of Nob Hill have done so great things to the homes without ruining the "feel" for these older casa's. It is not uncommon to see homes that have updated kitchens, bathrooms and HAVAC systems all without losing the charm of the home. If you're lucky, you may even find a basement, which is pretty rare in ABQ! And many of the front and backyards are amazing with all the lush and mature foliage that comes with an area this seasoned.



Now, the best part of this area, in my opinion is Nob Hill on central. There are several little, quaint, one of a kind shops. From fine jewelry to tattoo and piercing shops, this area has it all ad is very colorful! And the eating and drinking is one of the top in Albuquerque. Whether you are in the mood for fresh, homemade breakfast pastries, wood oven pizza chased down with a handcrafted ale or maybe fish-n-chips with two fingers of high end highland scotch, Nob Hill has you covered!!

Single family homes can range from The $180k's to around $380k. Most homes in the Nob Hill area are flat roof, single story adobe style homes. The most recent home development here is "The Place in Nob Hill". These are newly completed condominiums that can go as high as $500k...

For more homes for sale in Albuquerque, please visit The Albuquerque Real Estate Group.com!

10 for Balloon Fiesta - The Albuquerque Real Estate Group

One of the most fun things about my job when selling Albuquerque homes for sale to out-of-town clients is sharing some of Albuquerque's traditions. One of our biggest is the Albuquerque Balloon Fiesta. I have complied what i think are the top ten reasons to take advantage of the extraordinary event -





Top 10 reasons to attend the Albuquerque International Balloon Fiesta.



10. Largest hot air balloon festival in the world. Over 600 balloons representing 20 countries. Begins Oct. 1 and ends Oct. 9.

9. This is the 40th Balloon Fiesta held in Albuquerque. This tradition started in 1972 with 13 balloons.

8. Mass Ascension. This begins at 7:00 am although you need to be there much earlier. You can take advantage of the "Park and Rides" which are located all over the city and a bus will drop you off at the site.

7. It is said to be the most photographed event every year. Pictures do not do it justice. However, there are photo contests held every year in several different categories. This year Nikon is giving away special prize packages.

6. Family friendly atmosphere. Bring your lawn chairs, blankets and kids. Outside food is permitted.

5. Balloon rides. Rainbow Ryders offers a unique experience of flight like you have never felt before. All seats are first class!

4. The Balloon Glow. At night the special shapes such as the dairy cow, wagon train, and Darth Vader are illuminated at the same time. Fabulous!!

3. Fireworks!! This happens after the Balloon Glow. Need I say more?

2. Green chile breakfast burritos. They make it easier to get up so early. There are plenty of other food vendors too. Try a huge turkey leg or a fried twinkie.

1. If you are from out of town, you might just visit and fall in love with Albuquerque. If you want to move here we can help. Visit us at The Albuquerque Real Estate Group.

I love selling Albuquerque Real Estate!!

Ridgecrest Albuquerque Homes for Sale

Ridgecrest Real Estate is located south of the charming and historic Nob Hill district. Close to shopping and dining, this area is also close to the university as well as downtown Albuquerque. There are several styles of homes to chose from whether you are looking for a ranch style or pueblo, you will not be disappointed. The prices range from $100K to the mid 300K's.

While Selling Albuquerque Homes for Sale I have found that many people enjoy living close to the University of New Mexico, students and professors alike. There are activities taking place all year long. The football stadium and the Pitt, which hosts the Lobos Basketball team are close by for sports fans. Feel like a night at the theatre? Pope Joy Hall is a wonderful venue that musicals such as Grease, Rent, and Wicked have appeared. Currently the Blue Man Group is scheduled.



There are lots of parks. You can barely go a couple blocks with out coming across one. If you golf, you will be happy to know there are two golf courses within easy reach. You can be at the airport within ten minutes. Okay, more like 15 minutes (I drive too fast). Overall, the Ridgecrest - Nob Hill area has held its values very well. If you wonder what this area has to offer, check out homes at The Albuquerque Real Estate Group.

Glenwood Hills Albuquerque Homes

The Glenwood Hills Neighborhood is nestled along the Sandia Mountain foothills on the eastern border of the city of Albuquerque. Located south of High Desert, this community is well established with larger size lots and streets that seem wider than newer subdivisions developed these days.

There is easy access to many hiking and mountain biking trails in the Sandia Mountains and the paved bicycle/pedestrian trail that runs for 10 miles along Tramway Blvd. Makes exercising convenient. But if you prefer a gym, there is the Highpoint Sports and Wellness fitness center within walking distance. It is a private club that features such amenities as tennis and aquatics.



Glenwood Hills real estate is also located in close proximity to several shopping areas and many good restaurants so you have all the conveniences of city living. Eldorado High School is the public high school for this area. It's a top rated school in Albuquerque.

Another bonus is the police substation at the entrance to Glenwood Hills.Convenient city amenities and the Cibola National Forest creating a beautiful mountain landscape as your backyard, who could ask for anything more? Well, as a matter of fact this area has an active and effective voluntary property association that looks after the security and interests of it's homeowners. It is a really nice place to live and Glenwood Hills homes for sale are popping up daily. Contact The Albuquerque Real Estate Group for homes available in this area.

Homes in Albuquerque Acres West

Location! Location! Location!! If you are looking for a reasonably priced Albuquerque homes for sale with the highest rated schools in New Mexico, look no further! This area of homes along the Paseo Corridor has it all. Shopping, restaurants, parks and more.

You can easily spend up to a million on a home in this area. At the same time, there are homes that start at about $200,000. What do they both have in common? Schools that are rated as being the top schools on several online school ranking sites. North Star Elementary, Desert Ridge Middle, and La Cueva High Schools have HUGE parent involvement as well as awesome teachers, staff, and Principals.



Albuquerque Real Estate in this area ranges from patio homes, to Mcmansions and everything in between. There are sprawling brick homes that look like they came from somewhere back East, and typical pueblo flat roof homes that are native to New Mexico. There are really several different styles seen in this area. Gated communities such as Desert Ridge Trails, Quivera Estates, and Ocotillo just add to the choices.

This is a great community to live in that is really close to just about everything you could possibly need in the way of shopping, dining and recreation. Almost every home is within walking distance to a park or one of the schools. Many are walking distance to a store or restaurant as well.

For more information on homes in this area contact The Albuquerque Real Estate Group.

The Paseo del Norte Corridor - Albuquerque Real Estate

When you buy Albuquerque Real Estate along the Paseo Del Norte Corridor there is no reason to go very far. Just about everything you could possibly need is within walking distance or a very short drive. Whether you are hungry or need a haircut, you do not have to go far.

There are plenty of options when your tummy is rumbly. Dion's, Flying Star, Five Guys Burgers, and Jimmy John's are some of my favorites. I really enjoy meeting friends for happy hour at Jinja Bar and Bistro. Chili's is also an option if you need a cocktail or beer to wash down your meal.

Having both a Smiths and an Albertsons to chose from is nice. Of course no store compares to Trader Joes. If you already shop there, then you know what I mean. If you don't, then you are missing out!

Target, Lowes, and Bed Bath & Beyond are a few of the larger stores in the area. Not to mention specialty stores such as Lilly Barrack Jewelry and Strive which sells clothing and shoes. If you buy a gift a need to ship it, theres a UPS and a FedEx close by.

Need a manicure? Haircut? There are several salons in the area. Get a Great Clips trim or the full treatment at Mark Pardo.
Need a prescription filled fast? Walgreens has a drive thru. I personally enjoy the personal service Pharmica gives me. They compost some medications on site.

There are a dozen or so churches to chose from. The North Domingo Baca Multigeneration Center is a wonderful new addition to our community. Included is a library, computer cafe and fitness room. The huge park attached also has a section for dogs as well as a skateboarding and bike section. With even more additions such as a community pool in the future.

Let's face it, with the price of gas these days it's nice to have most everything you need close by. Did I mention we just got a gas station? It's great because shopping at Smiths earns you free gas here. It just keeps getting better!!

Contact us for Albuquerque Homes for Sale!!

We hope you enjoy our video!

Albuquerque Homes For Sale - North Valley

The North Valley is truly one of the most beautiful areas for Albuquerque Real Estate in all of the Duke City. With its large trees and lush green meadows it's like no other place. It gives you southwest rural living with its large acre plus lots and plenty of open space. Some of the most expensive and exclusive real estate in Albuquerque is found here.

While there are many residential neighborhoods and North Valley homes, there are also farms, ranches, multi-acre estates, orchards, and equestrian estates. Many people keep their horses right on their property. It is not uncommon to see chickens, goats, and cows too. Country living within city limits - this defines the North Valley lifestyle.



There is pedestrian friendly shopping as well as great places to eat. The Los Ranchos Growers Market is a gathering place for locals on Saturday mornings. It is a great source for local produce among other goodies.

The North Valley offers a variety of outdoor activities. There are limitless trails for horseback riding and dog walking. The Rio Grande Nature center is also a favorite family destination. There are also wineries, antique shops, and my personal favorite...Spas.

Search for Albuquerque Homes For Sale available in the North Valley today at http://www.thealbuquerquerealestategroup.com/.

Albuquerque Homes For Sale -New places to eat!

Why is it we always want what we can't have? Human nature I guess. Last year while in Austin,TX with my husband, I was taking a little vacation from selling Albuquerque Real Estate and I had the BEST sandwich I have ever eaten. It was so good we ate there four times in three days. It was a Jimmy John's gourmet sandwich. I knew they did not exist here in Albuquerque, so I had to get my fill. On a trip to Florida this year I researched the nearest Jimmy John's to our hotel. Score!! It was within walking distance (thirty minutes) Well worth the trek! Then this summer we planned to come through Arizona on our way home from a road trip. Yes, we hit up Jimmy John's in Tempe, AZ.



I occasionally crave the #9 Italian Night Club sandwich with the special hot peppers. Yum! My mouth is watering as I type this.

I wonder if I would be drooling right now if I could just drive down the street and get one???



Well, I get to find out this week. Albuquerque gets their first Jimmy John's. The opening is set for Tuesday August 9.

The address is 6650 Holly Ave. NE. Off Paseo Del Norte, between Louisiana and San Pedro. Next door to Five Guys Burgers and just west of the Kohl's dept. store. They even deliver within a five minute drive. Don't worry if you are not within the delivery boundaries. They are supposed to have up to 20 new stores here in New Mexico within the next couple years and you can bet that I will be stopping often when taking a break from showing Albuquerque Homes for Sale.



Who knows?? Next month I may go back to wanting what I can't have. You know what I'm talking about. Yes, that's right!! In-N-Out Burger!!! Maybe the Albuquerque area will get a store someday. A girl can dream can't she?



- Lorri Zumwalt

Albuquerque Homes For Sale - Featured Listing

Scarlet Gem (Video)

In a fairly large inventory in Albuquerque Real Estate, this "gem" shines! It is a Gorgeous custom home in Primrose Pointe, with a casita/studio detached. Beautiful Hardwood floors,raised ceilings and mudroom. Formal dining room has built in cabinets to display china,serving dishes etc.

The kitchen is a chef's dream. It boasts cherry cabinets with pullouts, high end granite counter tops, instant hot water, warming drawers, and pot filler. Top of the line appliances include built in refrigerator,Six burner Viking range, two drawer Fisher Paykel dishwasher, and wine cooler.

Huge master suite with fireplace and thoughtfully designed master bath retreat. Two additional large sized bedrooms upstairs each with walk-in closets that share a "jack and jill" bathroom. There is a game room downstairs with built ins that could be used as an office.

Yes, I mentioned a detached casita. This is a large room with it's own full bath and closet. Great for company or college kid who might want a little separation from the folks. The current owner used it as a music studio. Outside is a lovely outdoor living space with fireplace, built in grill and privacy.

This home is in a school district that is top rated!!! It's a very exclusive subdivision. Contact the Albuquerque Real Estate Group for a showing of this or more Albuquerque homes for sale today.

Enjoy the video!!

Albuquerque Homes For Sale - Downtown Condos

I had a opportunity today to check out an apartment complex in a nice little area just west of downtown Albuquerque. The owner of this southwest, 1 story complex has re-zoned the buildings for condos and is currently selling each unit. There are probably about 70% of these Albuquerque condos for sale which are occupied by tenants already, which could be good for investors who are looking for turn-key units, if the rents work out of course.

I was lucky enough to have the property manager show me a refurbished model unit. The unit itself was a 1 bedroom and had original hardwood flooring throughout, a full bathroom, kitchen with ally and courtyard access and a cozy little living room. I was pretty impressed with the entire complex.

The units, right now, range from $111k to $145k for a two bedroom. The location is great! It was within bike riding distance to several shops and restaurants. It really looked like a fun place to live. The complex itself came with a large, grassy courtyard that was begging for a privacy wall for its occupants but looked good even without. The complex itself was a stucco, flat roofed structure with red brick accents. It really fit in with the southwest feel of several Albuquerque Homes for Sale in the area.

Check out the video I made for an out-of-town client!

Albuquerque Homes for Sale - Sandia Heights

Situated at the foot of the Sandia Mountains, the unique Albuquerque real estate named Sandia Heights is a community unlike any other. Natural landscaping gives homeowners a rural feel. The views from this area are spectacular... City lights, sunsets and mountain views. It's not uncommon to see wildlife such as deer, rabbits, quail etc.

You can find several Sandia heights homes for sale by way of townhouses for around $200k, or a luxury property for 2 million. The lot sizes range from under a half acre to over an acre. There are currently 2200 home residences in Sandia Heights. This area is governed by a Homeowners Association that does its best to preserve the mountainous beauty of the area.
Sandia Heights offers walking and mountain biking just steps from your door.

Some people choose to live in Sandia Heights to accommodate their active lifestyle. Being able to hop on your bike and be connected to a bike path that takes you to other parts of the city is a huge bonus.

Another bonus is the proximity to the Sandia Peak Tram. This tram will transport you to an observation deck atop 10,378 Sandia Peak in the Cibola National Forest. You will have a panoramic view of the Rio Grande Valley and the Land of Enchantment.

A beautiful weekend in Northern New Mexico

When I want a quick escape to reboot from selling Albuquerque homes for sale, I love to escape the city lights and retreat to the mountains. Like everybody, I enjoy a trip to Disneyland, or the California coast, but last weekend we packed up and ran to our family cabin in Northern New Mexico near Mora, N.M.. It was wonderful, the sky was blue, the flowers were blooming, and the trout were hungry!

The cabin is a wonderful place full of adventure and fun for the boys and our little girl. During the day we fish or splash around in the streams in the area. At night we often go out on the deck to just lay and stare at the Milky Way. It's amazing how clear the night sky is at the cabin. We talk about flying saucers and little men and always wonder if anyone else is out there. Then, as the evening gets cooler we wrap them up and cook marsh mellows over a campfire.

No phones, no TV, just ourselves and some good books and games. It always makes me wonder what happens when we get home? Things just seem to get crazy and out of control. But days and nights in Northern New Mexico are simpler, slower, and just more relaxing.

Real estate like our cabin is a great thing. Our family and two other families purchased the property 30 years ago. I am sure glad they did! Have you ever longed for somewhere to go to get away? If so, I am positive that purchasing a cabin is a good thing. Is it a good investment? Probably not if you are thinking about the money, but if you thinking about bonding as a family it sure is a great investment!

If fishing, reading, resting, eating, and just slowing down is important to you, consider a cabin in our beautiful state. It takes us just 2.5 hours to reach the cabin front door but it seems like a world away.

Contact the Albuquerque Real Estate Group for information regarding vacation homes anywhere in the state of New Mexico! We want to be your trusted real estate advisors!

Albuquerque Homes For Sale - High Desert

The area of High Desert is very unique and one of Albuquerque's most amazing subdivisions in terms of home quality and landscape. High Desert homes for sale can range from $250,000 for a townhome or up to $2,000,000+ for a southwestern palace. These cutom homes must all adhere to the HOA restrictions when is comes to the construction of the home including the color of stucco or brick on the home. These rules definitely help fulfill and blend each home into the natural environment.

A natural, southwest and true high desert habitat can be seen around every corner. With the strict HOA and pride of ownership, High Desert wows visitors daily. There are several open space areas for locals to easily hike and mountain bike right outside their back doors. Trails can be as casual as a Sunday stroll or as challenging as an extreme mountain biker, hiker or rock climber would like, all within the same area.

With this natural landscape also comes the beautiful (and sometimes dangerous) animals and critters that have lived there for many years. It is not that uncommon to spot a roadrunner or even a deer in the early morning hours which adds to this mystic subdivision.

The Albuquerque homes for sale in this area are truly special! For a personal tour or more information on this area, please contact The Albuquerque Real Estate Group. Enjoy our custom video!!

Albuquerque Homes - North Albuquerque Acres

North Albuquerque Acres - A Guest Blog

Got Land?

This was an important question to both my husband and I when looking at Albuquerque homes for sale several years ago. Neither of us wanted to be so close to our neighbors that they could hear us yelling at the dog. Or worse, a kid :)

Good schools?

This was equally important to me as well. Having children in elementary, middle and high school age range made this an important aspect of our home search.

Convenient location?

My husband did not want a long commute to UNM where he works. I wanted to be close to shopping and places to eat (you can see where my priorities are).

Then I hit the lottery. No, I did not have a winning Powerball ticket. I mean figuratively when we searched, and bought, a North Albuquerque Acres home for sale. It was one of the best purchases we have ever made.

I love living in an area where everyone has an acre of land to spread out on and parking is never an issue. The elementary, middle and high school all scored 10 out of 10 at greatschools.org. Everything from drug and grocery stores to parks and restaurants are very close by. Sometimes I ride my bike to Trader Joes. The only downside is that I can buy only what will fit in my basket.

North Albuquerque Acres or NAA is a special area. I became president of our community association last year. We are a voluntary group that is involved in keeping our area a clean and safe place to live. The past two years we have had a Spring Clean day that allowed our neighborhood to come dispose of trash, recyclables, and hazardous waste safely. Also an email alert system was recently implemented to notify one another of time sensitive information such as a lost dog, etc.

We always hear location, location, location! When a buyer makes their decision based on location, they are usually happiest with their decision. You can always makechanges to a home but you can't move the home itself.

Enjoy the video!

- Lorri Zumwalt, Realtor

Albuquerque Homes for sale - Restaurant Review!...sort of.

One of the best parts of my job, along with helping people buy and sell Albuquerque real estate, is staying in touch with clients that I have worked with. Today I had the the privilege of driving downtown to eat lunch with a good friend and past client (it was a good transaction and our friendship survived!).

My friend works in downtown Albuquerque, so he knows all the new places that open up and, today, I benefitted from it. One new place that has been open for about two weeks is "bRgR" (pronounced burger...in case you didn't figure that out). He describes it as a hip burger joint. Since I didn't know quite what that was, so I was excited to find out.

This hip burger joint is on Central and 3rd on the northwest corner. It's not very big so we arrived early to beat the lunch rush. The interior is a little difficult to describe. Lots of grays and reds and there was a bar right in the middle with a few local brews on tap. In the back of he restaurant is the kitchen and grill where you can see the grill masters (sounds better than cooks) making the meals. It was very clean and not too big, which was good. Kind of an industrial feel with high ceilings and you could see the duct work. Because it was on a corner of the street, windows surround the restaurant, which lends itself to a ton of natural light. It feels very open and big despite the actual size.

The menu was pretty unique. About a dozen beef burger choices (including Kobe burgers) which ranged from $6 to $8, which I thought was a great price point. The only bummer was that fries and onion rings were separate but only $2 per serving of each. They also had sweet potatoes tots which had a hit of chipotle, which we couldn't figure out if it came from the actual tot or the ketchup. Either way they were interesting....in a good way!

They also had a few "exotic" choices which included Yak (I had no idea it was legal to eat Yak), Bison, and Kangaroo. When I saw these I immediately looked to see if they had a Koala appetizer. I hear their meat is very tender!...that was a joke.

With all the interesting choices before me I chose a yard bird burger! AKA, chicken burger. I know. Pretty sad. But even that was completely unique. It was actual chicken ground up and mixed with, what looked like, spices and possibly a few peppers. The patty was topped with a white cheddar sauce, apple smoked bacon and avocados. It was fantastic! I don't think I have really had chicken done like that and it completely agreed with me. The portions were perfect as well. Over all, a great place to eat. Both of us walked out of there spending about $15 each and that was with drinks and one side each which we could have done without. Not too bad.

So, the next time I am out showing Albuquerque homes for sale, I will try to make it a point to visit bRgR. Definitely worth the trip!!

Corrales Real Estate, an Albuquerque Local's View

I am, by no means, a Corrales local. I don't know all the strict official and non-official rules for the area (other than go just one mile over the speed limit through the town and you will get a ticket!). I only know a handful of people that live there. They all seem to love the area and once they get in, they never seem to come out of the village. What I can share is a NE heights boy's unfiltered point of view of the area.

While growing up in Albuquerque, I can remember visiting the village of Corrales from time to time. It was usually on a weekend during the summer to visit one of my father's or mother's friends who lived in the area and it was usually for a huge BBQ, or an exciting event like riding horses on someone's property.

The actual car ride at the time seem to take about 30 minutes and the area was considered very rural. I guess when you really have nothing to compare it to, rural was what it was! I recall thinking it felt as through we went somewhere of a greater distance. It didn't feel like we were only 30 minutes from home. The city was nowhere in site. All we could see were enormous cottonwood trees, adobe homes and lush fields of green being grazed by horses. It really was special considering we lived near the base of the mountains and were used to seeing a desert landscape.

The area still feels the same to me even now, except the drive is even shorter (15-20 minutes from our home in Albuquerque acres west). The village itself is fun to visit from time to time. The quaint restaurants and shops make it feel like I am on a little vacation...even if i am searching Corrales real estate. One place I enjoy in particular is "Village Pizza". They have an all-you-can-eat buffet that has pizza so good that you think you are getting the better end of the deal. The "Indigo Crow" is another popular place that several locals enjoy. The cottonwood shaded patio off the main makes this cafe a perfect place to chill during the hot summer evenings and sip a brew or glass of wine. Or, if you are feeling a bit on the purist local side you could chance the local watering hole, "Tiajuana Bar"...at your own risk.

That's just a quick little view on Corrales. Of course it is much more complex than that and if you would like more info on Albuquerque homes for sale, please contact The Albuquerque Real Estate Group. Enjoy the video!

Albuquerque Homes For Sale - other financing options

We are not in a "One sizes fits all" world. Not when it comes to clothes, vehicles, homes ect. and the same goes for financing a home. Not all mortgages are created equal and not every lender has access to the same programs. It is very possible that a buyer can't get financing through through a lender. Sometimes you have to think outside of the box.

This is where owner financing may be a opinion. A seller in need may decide to offer financing to a potential buyer for their home. To make this worth their while, the seller often requires a 10% (at least) down payment, a monthly payment to cover principal, interest, taxes and insurance. This entire payment is calculated and based upon an interest rate that is, of course, agreed upon by both parties. Then there is a call date (typically 3-5 years). This is when the entire loan is "called" and the buyer pays off the loan to the seller in cash or gets another loan to pay of that original loan (did you follow that?).

Now, why would any seller want to offer owner financing or a REC (Real Estate Contract) for Albuquerque Homes for sale? Glad you asked. There could be a number of reasons. Sometimes the buyer doesn't want to sell their current home or can't qualify with a lending institution so they will seek owner financing. The buyer could be self-employed, divorced without credit of their own or haven't been at their job long enough OR buying as an investment. Basically, if they cannot get qualified by a lender and can obviously afford the home, REC's are a great option.

Keep in mind, the seller should definitely do their homework first and have a credit check done and reassure that the buyer has the income to make the monthly payments. If the buyer does not cooperate, cut that one loose ASAP! Realtors can run searches in the Albuquerque MLS to try and find homes that offer seller financing. Also, if there is a home that is not advertising this type of financing, ask your agent to get with the listing agent to see if its an option. A lot of sellers may not even know this is a option until it is presented to them. You just never know. It could be a great opportunity for sellers to make money if they do not need their proceeds from the sale of their home right away. This just might be the perfect fit!

Money or repairs - Albuquerque homes for sale

The question may boil down to "would you like the repair allowance in the form of a credit towards your closing costs or would you like the repairs done?"

Once inspections have been completed on a home in escrow, the buyer will more than likely ask for a few (or a lot) things to be repaired or addressed. Usually within the purchase agreement for Albuquerque homes for sale there is an amount that is agreed upon before the inspections occur that is allotted for repairs. Now, this amount is entered into the agreement under the assumption that the home has no major issues. If there are major issues, then its back to the drawing board but that is a completely different blog...

Instead of doing the repairs the seller may just try to throw money at the problem to make it go away, which is perfectly find and sometimes works. By telling the buyer they can have $1500 in closing cost credits may mean that the buyer doesn't have to use all the money they have saved on closing costs. Maybe they can buy the new TV that they (usually he) has had their eyes on that would look amazing in the new living room!....and that's pretty much the problem there.

If the money is spent on a TV, then those much needed sewer line clean-outs (for example) would most likely be pushed further and further down the timeline until it is a major issue and the problem doubles or triples in cost. Which is something I would totally do but do as I say, not as I would do!

For the buyers, the best thing to do is to get the issues repaired because it is very easy to get use to the the current problems and not fix them. As time passes, the harder it will be to pay for that one issue that seems to be okay until it becomes a major issue and the money is spent else where.

For the sellers the best thing to do when selling Albuquerque real estate is usually give the buyer the money towards the buyer's closing costs or come down off the price of the home. That way they don't have to worry about the unknown which could be the cost of the repair being more than expected and the seller's can deal with the scheduling of the repairs.

Albuquerque Homes for sale - Thoughts on Sewer Line Inspections

I recently sold one of the several Albuquerque homes for sale (my listing) and the buyers were concerned about the sewer line from the home. The age of the home was 50+ years and there was a big tree in the front yard so the inspection was a great idea. The major concern was not only the age of the sewer line but a possible root intrusion that may have occurred in the years past.

The best way to actually see the condition on the line is to hire a professional to scope the line with a fiber-optic camera and digitally video record the inside of the sewer line. Once this is done the inspector will distribute the video to all parties involved and then a decision will be made as to whether the line should be replaced or not. The problem is, who should you hire to scope the line?

If the inspector is not a licensed plumber, someone may end up paying more to have the line scoped again. Often times (this happened twice to me in the past 2 months) the unlicensed inspector will make comments like "could be corrosion" or "could have root infestation" or "may have to be replaced". Comments such as these can raise false red flags and replacing a sewer line can be expensive, like $5k expensive.

Now that this unlicensed inspector has made the comments, the buyer immediately goes on the offensive and wants the line replaced because the guy filming the line has commented, in the video, that he "thinks" the line should be replaced. Now we have to get a second opinion and some plumbing companies charge for second opinions. You may get lucky and have a company accept the first video but they will, more than likely, charge for the time.

So, in my case (both times) this inspector, who was chosen because he was cheaper than the licensed plumber, said that he thought the lines should be replaced. And, in both cases, the line needed to be re-scoped only to have the plumber say that the line was just fine. I think the first, unlicensed inspector should leave his mic off and maybe write his findings down in the written report OR explain to the buyers that he can only give opinions OR become a qualified plumber.

So, when searching through Albuquerque MLS and the home is older, it is a good idea to get the sewer line scope by a licensed plumber

Albuquerque Real Estate and the short sale

It saddens me to see all those families that can no longer make the payments on their home. I have discovered that it is a very confusing time for them. When the payments are late not only are the mortgage companies calling but every foreclosure investor in the city seem to be calling hoping to be able to buy the home owner's redemptive rights in hopes of future profits. I'm sure there seems like no there is no way out!

The good news here is there is a process for Albuquerque Homes For Sale that can save you money and perhaps significant heartaches later; the Short sale.

The process is often long and frustrating, and demands the expertise of someone who knows the ins and outs of negotiating with the Lenders involved. It is an exact process in most cases. There are forms that need to completed before the short sale can even be considered. But once those forms are complete the process can begin.

The goal of all the parties involved is to sell the property for an amount that will satisfy the creditors. In other words they negotiate! The seller never receives any of the proceeds but their burden is removed and life becomes normal again.

Depending the on the reason for the short sale, many sellers are able to find another home in the Albuquerque MLS and purchase another home in two years.

There are three points I want you to hear:

1. There is a way out of the problem,

2. It is an exact process requiring a knowledgeable facilitator

3. You need a negotiator on behalf of the transaction and to move the transaction along.

Should you find someone that is in this situation, or if you are in this situation of needing a way out from under your mortgage, we can help. Our team for short sales include a Title Company trained in the short sale process and the needs of the lenders, an attorney that negotiates the sale with the lenders assuring that the process moves forward, and me to market the property to attract the buyer that will begin the entire process.

I want to help. Please feel free to refer my name and contact information to anyone needing these services.

And for all your real estate needs remember to contact The Albuquerque Real Estate Group!

Verbal negotiations regarding Albuquerque homes for sale

 

From time to time I will find myself working with another fellow Realtor and negotiations can turn to talk rather then tangible contracts when dealing with Albuquerque homes for sale. Its very easy to get caught up in but, as they say (I have no idea who "they" is), it gets lost in translation. The first red flag is "we have a verbal acceptance!" Thats neat but it doesn't mean anything until it is written down and all parties sign. It is my opinion that it all should be written down and presented to the respective seller and buyers.

If two Realtors get together and start the ol' he said she said, things can get ugly real quick and no one is to blame but them. Things could be forgotten or misinterpreted. It is always good practice to get it down on paper and have each of the parties look the papers over and try to find any corrections that can be made because buying a house is kind of a big deal.

Just a quick tip on things that could be going on that can be made aware of. Whenever someone puts a document in front of you, read over it carefully to make sure that the Realtors didn't miss anything because it does happen. We're not robots (not yet but Steve Jobs is working on it) and we do make mistakes from time to time when helping you find Albuquerque Real Estate.

Important Albuquerque Real Estate News!

I have been told by my lender that it is very likely that FHA will lower it's loan limits for Albuquerque homes for sale to $200,150 on September 30, 2011! Currently the FHA loan limits for Albuquerque real estate is $271,500! What that means is roughly 60% of the current buyers looking in the Albuquerque MLS market will not be able to purchase homes$210,000-280,000 price range!! Sellers in that price range are looking to possibly loose 60% of the buyers that currently exist because those buyers will no longer be able to take advantage of the FHA program because of the lower limits on September 1!!

What to do? Well, if you are a buyer that will be utilizing the FHA program you should step up your house hunting efforts and buy now so you do not go past the September deadline. If you are a seller you should be very realistic on the pricing of your home so I you do not lose potential buyers that will not be available after the September deadline.

No one knows with absolute certainty that the FHA limits will or will not be extended. Those in the mortgage business anticipate the deadlines to be upheld. The way we see it is if your are going to buy this year then do it now, if you must sell this year then do it now as well. You can't go wrong unless you pass the September 1st deadlines and the limits are lowered.

Our desire is to be your trusted Real Estate Advisor, and to pass useful information along as we hear it. As always, if you need additional information please remember to contact "The Albuquerque Real Estate Group"

Albuquerque Real Estate - to pre-inspect or not

I was recently given advice to have listings pre-inspected before they hit the Albuquerque MLS which, at first, was a foreign idea. Several questions went through my mind like "But the buyer is suppose to pick the inspector. That would be a waste of my seller's money" or "Buyers will think that we are bullying them into using our inspector." All legit reasons, right?

Then it was explained to me that a seller, by knowing what is really going on with their home, can take alot of the post-inspection negotiations out of the buyers hand. In other words, a seller by knowing that the electrical panel needs to be replaced (for example), can prepare for that way ahead of time and not have to make a quick decision or come down on price. The buyer is less likely to back that seller in a corner and they can head the problem off at the pass.

Now, here is one catch that I found with that whole scenario. If the inspection is given to the to the buyers before an offer is made, a buyer can sit down, read the inspection, then say they want the electrical panel replaced and still allow a separate amount for a repair allowance. If the inspection was done after the offer was made, the the repairs could be negotiated out of the repair allowance, not as a separate cost to the seller.

Now, if its a big item like a faulty electrical panel or a bad sewer line, chances are the seller is going to have to replace that item any way. These are just a few thoughts on the whole "pre-inspection" concept for Albuquerque Real Estate.

Local flavor - Albuquerque homes for sale

We put ranch on ours..

It might sound strange. I don't know what you do where you come from, but we dip our pizza in ranch dressing and it is delicious! I will have words with any one who says different.

When I am out and about showing Albuquerque homes for sale, one of the "go to" places I like to take clients is Dion's Pizza. Its the kinda place you go to when you don't feel like coming up with something to eat for dinner. Local baseball teams, basketball teams, football teams and the like all flock like the salmon of capistranoto (I know....I know. It just felt right.) to Dion's for that after game nawsh. This establishment is good and consistent, which, in my opinion, is key in a restaurant. The green chili is hot and the ranch is cool. It is the perfect yin and yang. I often find myself surfing the Albuquerque MLS while partaking in the fruits of the establishment.

If pizza isn't your thing, Dion's has several hand crafted, custom, fire roasted sub sandwiches (doesn't that sound fancy!? I made most of that up!) and crisp, cool, colorful salads to choose from. If they served microbrew, I might consider a second career. Until then, I will just enjoy what they are good at...PIZZA!! And I will stick to what I am good at, selling Albuquerque Real Estate.

Albuquerque Homes for Sale - what is a buyer's "job"?

It may sound strange, but a lot of buyers are not quite sure of their specific role in the whole buying process. Some think that when they look at homes they must crawl all over the property and do an inspection right then and there, even when they know the home is not "the one". And I get that. It would be like me opening the hood of a car and acting like some kinda gear head with x-ray vision that can see right into the engine block and determine the condition of the piston rings...well, maybe that's a guy thing, but you get the idea. I often see people bring their own flashlights and crawl up into the attic and I have even seen buyers actually crawl right into a 80 year old crawl space only to find the remains of those who came before them....I kid! But they actually do, on occasion, crawl under the home. I felt it necessary to discuss my ideas on this briefly, just to throw a few ideas out there to any would be or current buyers.

I believe that when looking at Albuquerque homes for sale the buyer's job is pretty simple and actually should be fun - find the home that suits you best and just fells right. It sounds weird, I know, but that's usually how it happens. A person can just walk right into a home and know that it is the home that they will buy, almost immediately. The way I can usually tell is when the buyer goes nuts pointing out all the good rather than the bad and is actually gitty or they get completely silent and just absorb the home. Its pretty sweet!

So, let the professionals crawl under, over and through the home and get their overalls all dirty. Its what they get paid for. And let your Realtor scour the Albuquerque MLS. We are there so you don't have to bring your flashlight. All you need to do is view homes and just relax and let us do what you have hired us to do. Make us at least feel useful! Please! You will find the right home. It just takes a little time but it is out there waiting for you!

Thank you buyers of Albuquerque homes for sale! Your Grrrreat!

I absolutely love helping people find Albuquerque homes for sale that appreciate my efforts! I truly have been fortunate lately with the quality of buyers I have had. Nothing gives me more pleasure than to work hard helping buyers search Albuquerque MLS, set up appointments, sacrifice Sundays then have them say "Thank you. I know you'd rather be doing something else with your weekend." Guess what Mr. and Mrs. buyer? Other than hanging out with my family, there really is no other place I would rather be than helping you find a home (ok. maybe fishing.). And if you have told me "thank you" and that you appreciate my time, there really isn't a whole lot I won't do for you. And that is the truth!

Now, every now and then we Realtors get a real stinker who hires us then tries to tell us how to do our job because they have read a bunch of garbage on Yahoo or have friends who took a class in college that discussed real estate for two weeks. I say find the positive in this situation and hold them right next to your good clients and feel even better about them. Its the stinkers that make me feel even more fortunate about the buyers that really need and appreciate my time and professional opinion.

So, thank you my buyers of late (I don't really talk like that. I heard it on Lord of the Rings and thought it sounded cool)! You really make my job a great one and there isn't anything else I could think of doing for a living other than helping you find your new home....OK., maybe fishing....

Albuquerque Real Estate - the cogs that help you move

Many people get a glazed look over their eyes when I try to explain all the people involved when it comes to purchasing an Albuquerque home. I can tell that many check out as soon as I get into explaining title and what escrow means.

I don't blame them. I would check out half-way through the conversation too, if I wasn't talking.

I try to explain it as 3 main cogs of a machine that is driven by several other cogs within, and the buyer is steering the machine and making all the decisions.

As the Realtor, my job is to give expert advice, negotiate and try to avoid as much drama as possible so my clients can have a transaction as smooth as possible. With me comes an assistant and office managers. These people make absolutely sure that my paperwork is in perfect order in case something comes up to where we need to refer to the original deal. Also, within the Realtor cog, are the inspectors. Times are scheduled and these fine men and women crawl all over the home to make sure that you are in the best position as possible before you move in.

The Realtor's team mainly consists of the Realtor, an assistant, the office staff, the home inspectors, and repair men... if anything needs repair.

Now, on to the lender. The lender and his/her team is responsible for making sure you are qualified up to the very last day of escrow. If you tell them you want to buy a home and you are qualified to do so, they will be watching you and your finances VERY closely. So, please, don't go out and buy a car or even a TV.

The lenders team mainly consists of the lender, an assistant, the processor, and the underwriter.

The title company is usually the most quiet unless they find something that is defective on the title itself (possibly a lien which comes in handy for Albuquerque foreclosures). They also make sure the monies go where they should, and that everybody who has worked hard on the transaction gets paid. Without the title company, we all would be lost under a mountain of paper and confusion, flopping around like fish out of water. At least I would be (no pun intend!)

The title company mainly consists of the escrow officer, a pre-closing assistant, a post-closing assistant, receptionist and lawyers on staff for "emergency" situations...which can flare up at anytime.

So, that's about 14 cogs total that are helping you buy Albuquerque Real Estate. That's before you even get in your home and begin to buy new furniture and decorate. (and that TV now, if you still want it!)

Albuquerque Real Estate Neighborhoods - Nor Este

What I really enjoy about the Nor Este subdivision in North Albuquerque Acres West is that it is probably the oldest subdivision, which was built by Presley Homes (although Sivage snuck a few in there), in a newer, up-and-coming area with in the NE heights. Located north of Paseo del Norte and east of Wyoming, Nor Este flourishes with large, mature foliage which is hard to find in the North Albuquerque Acres area. Several of the newer homes have small, saplings trees and xeriscape for the landscaping and, although that is nice, Nor Este is unique in that the trees and landscaping are much more grown than the newer homes. Looking at a satellite image of this area, one can see that Nor Este is an oasis of sorts.

Nor Este also benefits from the school districts. Some of the finest in Albuquerque are found in Nor Este which also makes this area a very family oriented subdivision, so drive slow! :) The Schools are North Star elementary, Desert Ridge middle school and the infamous La Cueva high school, home of the Bears.

The area in which the subdivision rests is in a great proximity to the I-25 and Paseo del Norte, which is a booming area of new commercial activity. It is great for shopping and some entertainment (which we hope will get better with time!). There is still a lot of vacant land along Paseo del Norte and the residence speculation is always a good conversation for conversation!

There is Albuquerque Real Estate for sale in this area. Call your Realtor if you are interested in seeing any of these homes!

Is it too soon to break open the Bubbly?

How beautiful on the mountains are the feet that brings good news! Boy this news sure sounded good this week! Did you see the cover story on Fortune Magazine for April "Real Estate is Back!" Wait...what did they say? Real estate is back? Sure sounds good doesn't it? But is it time to have the end zone celebration! That maybe a little premature...the article sure caused some response in the real estate industry. You should have seen all the Angry Birds (Couldn't help the pun!). Most seemed irate to even be thinking of any kind of recovery! Could we just hold on to the glee for just a little while? Sure, jobs are needed for sustained recovery, sure real estate is realizing negative appreciation in most of the country, sure foreclosures are happening everywhere, but is there anywhere I can hang my party hat?

Those that know me know that I am not an economist. They also know I tend to think of the glass as half full. But as I look around I do see some positive things occurring in the Albuquerque real estate market.

First there are more people able to achieve the American Dream of home ownership because of the entry level pricing. In fact there are more people able to buy upward because the average price has dropped to the most reasonable levels since 2001. That seems like a positive to me!

We have all heard that interest rates are really low.....go look.....really.... go look because they are really low! That means lower payments and more people able to qualify. That seems good to me as well.

In Albuquerque, more people seem to be out looking and the best priced homes in the best condition are being purchased. They inventory is becoming less and less....

Lastly (but there are plenty more reasons for me to be optimistic!) it just feels better. Remember that "perception is reality" thing?

Do you remember a fellow named John Paulson? He is the fellow that sold his real estate inventory when everyone had that euphoric feeling and thought that the real estate boom was going to last forever? Yes...that's right he made a fortune! During the last quarter of 2010 he is quoted as saying "This is the best time in 50 years to buy a home. If you don't own a home, buy one. If you own one home, buy another one, and if you own two homes buy a third and lend your relatives the money to buy a home." September 27, 2010

Should we break open the Bubbly? No, perhaps not yet, but it sure is beginning to feel like we are back in the game. Well...the game hasn't actually begun but I can hear the players beginning to warm up!

Congratulations to all who are ready to begin to take advantage of this wonderful opportunity called the American dream! You are making one of the smartest moves of your lives!

If you are thinking of looking at Albuquerque Real Estate for your next real estate investment give us a call we would love to help you.

Albuquerque Real Estate energy

I thought I would write real quick on the "feel" of the market on this end. People are constantly asking me whats going on in the market and they don't necessarily want stats. They just want to know what I am seeing in the Albuquerque Real Estate market and what I am seeing seems to be positive.

Buyers seems to be coming out and in full force and they are not messing around. If they do, they often loose out on great deals. The general media has been gracious enough to bless us with their optimistic outlook on the real estate market in general. I can't help but to think this has had something to do with buyer's confidence. Once again, interest rates are low and inventory is high which makes it a great time to buy (that has a nice ring to it!).

So, bottom line (from what I can see), buyers are out there buying. If the home is priced right, it will fly right of the shelf! The good ones definitely are not lasting. Think of buying? Now is the time.

If you like it, BUY IT. - Albuquerque Real Estate

I keep running into this time and time again and felt it necessary to mention it for anyone who cares. The pendulum seems to have swung the opposite way concerning the seller/buyer mentality. During the real estate "boom", it was an amazing seller's market. It was pretty much put your house on the market and name your price then watch people fall all over themselves to buy your home because all they had to do was fog a mirror to get a loan.

Everyone felt invincible.

The bottom fell out and now the it is a buyers market, but no one really feels invincible now...

Inventory is up and Albuquerque Foreclosures are on the rise. Short sales are throwing a wrench in the works and buyers think they can come in a low-ball sellers to the tune of 10-20% off the sales price. Its taking 3+ tries to figure out its not working out quite how they read on yahoo and CNN. Albuquerque Real Estate sellers, including the banks, are not giving these homes away. In reality, homes are selling 3-8% off the asking price and the price range and area certainly will determine that percentage.

"So what does that mean if I want to buy a home now?" Well, since inventory is in fact high, you need to consider that you, Mr. & Ms. buyer, have competition. When a good home hits the market and the price is good, you need to realize that you are not the only one looking at that property, whether it be High Desert homes or North Valley homes in Albuquerque. If it fits your needs and you are in the market, jump on it! Because someone is either in front, behind or right along side of you.

Albuquerque Real Estate. More or less than meets the eye.

Another thing I run into when showing Albuquerque Real Estate, including Albuquerque Foreclosures, is people's opinions of what they see in a home as far as condition. Over and over again people will see a hairline crack in a slab of concrete in the back porch and think the home has structural issues. I'm not here to tell you they are wrong but what does need to be made clear is that there are inspectors whose job it is to look at those very things. Rely on that and not speculation.

I will be the first to point out an issue with a home if I think it is crucial to the integrity of the home (the picture above might be a issue. Yikes!), and your Realtor should do the same. If there is a diagonal crack at several corners of different windows, the buyer should be made aware before an offer is made (Especially with a foreclosure since there is not a seller's disclosure available). Because, again, your Realtor's main goal should be making your experience a pleasant one with the least amount of problems. If you want to dive in head-first on a home that is sliding down the hill, thats o.k. too. It is ultimately your decision.

My point is, leave the inspections to the experts, don't assume. If you don't like the home, that's ok. Move on to the next. Your home is out there and we can help you find it. Cracks and all!

Everyone's advice regarding Albuquerque Real Estate

One of the biggest hurdles I run into as a Realtor selling Albuquerque Real Estate is the battle between a client's advice from friends, neighbors and co-workers regarding the process of buying a home. Everyone seems to have a story and they try to relate or apply that story to another person's situation. I, myself, am guilty of doing it. We all like to share articles that we have read from Google about the market in Arizona, Las Vegas NV, Detroit and any other depressed areas. The worse the area, the longer the conversation seems to go. The more we read, the more we like to think we are experts on the situation. It just seems to be human nature. Each area is very specific...

Now, here is where that advice can be a huge problem -

Say I get a buyer and we have discussed that buyer's goals. We have discussed the advantages to buying Albuquerque foreclosures and homes from independent sellers. We have discussed the problems with the instability of short sales and the rise of interest rates. We discuss timelines and financial concerns and so on and so on. After all these things have been discussed and quality time has been spent on coming up with a custom plan, along comes Suey Creamcheese or Joe Milktoast with her/his advice of how things should go for her friend, co-worker or neighbor and the plan is in jeopardy.

Now, I realize that a friends advice can be a valuable thing. But who is the professional here? Who is the one that has fought and fought to see many transactions through to the end and the one who knows and has a sense of when transactions fall apart. Who is the one who has seen the ups and downs of the market and been at battle with all the new changes and regulations? Who is the one that MUST continue to take classes in order to better themselves in an carry their hard earned designation? YOUR REALTOR.

Let your Realtor help you. That is why you have come to him or her. Do you go to your friend for accounting advice? Medical advice? Then why would you treat an investment as big as a home any different?

Every transaction is different but the seasoned Realtor, not the friend, co-worker or neighbor has the experience to give you a much higher success rate when purchasing a home. We want your transaction to go as smooth as it possibly can. Why would we want anything else? My goal is for you to walk away and tell that friend, co-worker or neighbor how amazing your experience was and how much I helped you buy your home. We both know your friends mean well, but YOU are buying the home, not them. Your Realtor is trained to help you do just that. --It is our job--

First Quarter look at Albuquerque Real Estate Activity

To answer your questions about how the Albuquerque real estate market has responded in the first quarter of 2011 it seems that prices still are trending downward.

In terms of supply and demand it seems to be getting cooler with more inventory coming on the market relative to the sales demand. I have noticed that during recent weeks the demand has been a bit more active. Houses coming on the market seem to be larger and newer. Spring always triggers the instinct to buy homes and I think this will be no different this year! It is still the American dream to own a home!

During the first quarter the pro-dominant price of those going under contract was below $200,000. No surprise here, this is the range that the majority of buyers can qualify.

What does this mean to a buyer? Well, while demand is down overall, if you are buying in the most active price range don't expect sellers to be too excited about negotiating from their prices because there will be more that you looking to buy! If you are a seller it is advisable to price your home closer to the price you expect because you don't want to lose any opportunities to receive offers!

On the other hand, if you are in the range above $200,000 and you are looking at buying, the final sales price may still have a little room to negotiate. The higher the price range the smaller the pool of buyers.

Finally, remember this: all this means nothing if you see the home of your dreams. Don't get caught up in trying to squeeze every penny you can from the transaction. Simply purchase the home and be happy!

If I can answer any questions please don't hesitate to ask!

Tim Fish

Albuquerque Real Estate - Foreclosure inspection thoughts

Now, before I start on this I want to make it clear that this information comes only from my experience. Your's may have been different but I think the information provide can be agreed upon.

When purchase an Albuquerque Foreclosure in our Albuquerque Real Estate market the term "as is" comes up again and again. If you are in the middle of a foreclosure deal and this has not come up, ask your Realtor right away because it should be crystal clear to a buyer. As a buyer, there should be no doubt in your mind as to what this means. Basically, it means the bank is selling with no warranties expressed or implied.

People ask me time and time again, "what will the bank fix on this property?" and the best answer is, nothing. That way there are no false hopes or expectations. Does this mean that when the offer is accepted you are locked into that property and have no recourse? Absolutely not! If the inspections come back with something bad and you are not comfortable moving forward, then you should be able to take your earnest money and find something else (unless you have made your earnest money non-refundable in the offer which could happen in multiple offer situations).

Now, some banks have been know to repair an item if it is required in order to obtain a mortgage loan. For example, if there is a roof leak in the home and the buyer is utilizing his or her VA eligibility, the bank may choose repair that item knowing now that it is a lender requirement. The bank should know then that if they do not fix the leak, they have just cut off buyers that qualify for a VA loan.

So, if you don't like the color of the cabinets, the bank won't paint them. Big ticket item may be considered if the mortgage could be in jeopardy. That's the bottom line...for now.

Thanks for reading!

Why its good to have a Realtor when buying Albuquerque Foreclosures - offers

I know, I know. Another foreclosure blog. Sorry. Its a hot topic right now and will be for a while.

It probably goes without saying, but buying an Albuquerque foreclosure, like any property, can be tricky. There are several things to be aware of. It's my opinion that having an experienced Realtor and mortgage professional can save a person quite a bit of money and agony.

One thing buyer's should ask is what would a reasonable offer be. I can't tell you how many people read a blog or article on the internet and think they can low ball the bank into selling a property. Here's something that everyone should remember - the bank is not stupid. They know what the market is and what properties are going for in certain areas. They get broker price opinions (or BPO's) from several Realtors to produce a competitive listing price. If they don't see the property moving within a certain time frame, they will reduce the price by a certain percentage.

So, what could a good offer be? Like I said, consult your Realtor (or me if you don't have one). And don't be surprised if the offer should be 5-8% less than the list - not 25-50%. If they were giving them away for that much off, we would all be in (more) trouble. Also, don't be afraid to ask for the seller to pay for a percentage of the purchase price toward closing costs if you are not in a multiple offer situation. A lot of the time the bank will consider it. And one more thing. If you really like it, chances are that someone else likes it as well. Make your move! Don't wait if you think its the one for you.

Bottom line - When buying Albuquerque Real Estate, consult a pro. Like you would consult a doctor if you had sharp pains in your brain because without the right help when buying a home, you could very well feel that same brain pain.

Client benefits (Sandia Tram!)

One of the things that locals tend to forget about when living in a area long enough (in my case, all my life) is the unique, local features that the area can offer. One of Albuquerque's unique features are the Sandia Mountains and you can't mention them to someone moving in from out of town without talking about the Tram.

Our Sandia Tram has taken 9 million passengers to the top the Sandia's western, rugged face in its almost 44 years. Any one that has had the opportunity to travel a flight on the tram can vouch for the amazing scenery.

West, across the Rio Grande and volcano fields Mt. Taylor can be seen more than 100 miles away. To the west Redondo Peak stands tall in the Jemez Mountains rising up from the caldera known as the Valle Grande. And to the east lies the heavily wooded backside of the Sandias and views of the Sangre de Cristo Mountains and our capital, Santa Fe.

So, if you have bought any Albuquerque Real Estate from me (that includes Albuquerque foreclosures), I can provide you with FREE tram tickets so you can decide for yourself if the views are as good as I remember (No. I haven't been in a while. I'm local!). Or, if your nice and just ask, I can hook you up too. Just remember me if you know anyone buying or selling Albuquerque Real Estate!!

FHA Insurance Premium Increase

I just wanted to let you know about the insurance premium increase for buyers buying Albuquerque Real Estate that are planning to use an FHA loan. As of April 18th the premiums will increase slightly but buyers should be aware. If, for example, a buyer was looking at a $175,000 loan amount, the payment will increase by about $36 per month.

However, this will help strengthen FHA which is important since some estimates show that they do carry 50% of the current loans generated today. Even though FHA is increasing this premium, their products are still some of the best out there are offer low down payments, even for those looking into Albuquerque Foreclosures. Rest assured that the FHA loan is still a viable option worth considering. just be clear on the guidelines including the condition of the home. you Realtor should be able to help with that.

If you have been considering buying, now may be a good time!

I found a REPO! How can I buy it and finance the repairs?

So, you've found a few Albuquerque Foreclosures homes that could be great deals but they could have a significant amount of repairs and upgrades needed before it will be a great home for you. You have the cash for the down payment but not enough extra to make the renovations! Prior to today I would have said that this would have been next to impossible to accomplish if you didn't have the extra funds.

Today I learned of a program that allows a purchaser to obtain a mortgage for Albuquerque real Estate and finance the repairs. The loan would be based on 80% of the improved appraised value!

That's correct! You may be able to buy an Albuquerque Foreclosure home and do the rehabilitation in one loan! There are a couple of requirements: it must be owner occupied, the loan cannot exceed 80% of the improved appraisal price, the loan cannot exceed (Catch this!!) $1,000,000, and the buyer must have sufficient income and credit to qualify.

If you wished you had the money to take advantage of some incredible bank REO properties this may be just what you have been looking for.

For more information please contact me at TheAlbuquerqueRealEstateGroup.com.

Got Splinters?

Have you been riding the fence and have been qualified for an FHA loan to buy Albuquerque Real Estate or know someone who has, you may want to pay attention to what is going on in the up coming months in Washington regarding the housing and recovery act.

The current loan limit for an FHA loan is $270,000, which was a temporary increase to provide some activity in the market. It did help but it will probably drop to $200,000. Allow me to repeat that for you. THE LOAN LIMIT FOR FHA WILL MOST LIKELY DROP TO $200,000 IN NM. Congress will make this decision before the sunsets on September 30th. So, if you are looking for the low down payment and want to finance more, right now should be a good time to buy. Not trying to use any scare tactics here. Just want to inform.

Bottom line, if you are seriously considering a home purchase and have been qualified for an FHA loan, please contact your Realtor and/or mortgage professional to see what actions should be taken and if this effects you. They should be more than happy to help. If not, call me!

What to expect when buying, "AIR"

Time and time again, when selling Albuquerque Real Estate, buyers ask "What's next? What else is left?" when in comes to the entire process of buying a home. As many may know, buying a home can be as complicated as you want, but it can also fairly easy if you just let your realtor filter out all the stress. If your Realtor is dumping every little problem on to you, well....that's unfortunate.

I believe part of a Realtor's job is to make the entire process as stress free as possible. By this I mean he or she should not call you about every little thing that may go wrong or to complain about the other realtor, lender, inspector - you get the idea (unless you ask them to. A reason eludes me at the moment...). A good little acronym I like to use as a check list for buyers looking for Albuquerque homes for sale (and myself) is "AIR" (the picture provided is the only one I could think of. Sorry. I'm a product of the 90's!)

"AIR" simply stands for "A" - appraisal, "I" - inspections, and "R" - repairs. That's it. That's all. Once these three major things are complete, and you satisfy the lender and the buyer, then the rest should be in good shape.

With that being said, of course there are several details that could slow the process down. You could dissect a deal until you go mad. But couldn't you do that with anything? Like making a sandwich? You could sit there and worry about carbs in the bread. You could worry about calories in the dressing. You could worry whether or not the tomatoes and lettuce are organic. Did the pig die happy? Is the plate clean? What am I going to drink? OR, you could just make a BLT.