Friday, January 20, 2012
Interest rates are still amazing! I just helped a first time home buying couple purchase one of the homes for sale in Albuquerque Acres West and they were able to secured a 30 year fixed mortgage at 3.75 with no points! I couldn't believe it when the escrow officer went over their loan papers and began to discuss the terms of the loan. My immediate response was "How many points did you have to buy to to buy that down?" and the buyers looked at me like I had two heads. "None" they replied. I'm sure my jaw hitting the table erased any doubt they may have had about making the right decision in buying a home at this time. I saw the buyer's remorse jump right out the window.
At the risk of sounding like a salesman, right now is still a great time to buy. Again, interest rates are low, home prices are correcting and inventory is high. Sellers are ready to entertain any offer and get their homes sold and on with their lives. Some are even more than happy to write a check at closing.
So, if you are thinking about buying a home in Albuquerque, get movin'! The good ones are going and there are plenty of them. These interest rates can't last forever!
Call or email The Albuquerque Real Estate Group if you have any questions. We are more then happy to help!!
by Tim Fish
Monday, January 16, 2012
HI! Well once again the broad brush stroke doesn't apply as much in New Mexico!
I was reading the paper yesterday and found out that the national average on down payments for home loans was over 20%! Wow that sure does knock some buyers from this already stressed real estate market.
Fortunately, for some people searching for Albuquerque homes for sale, whether you are a seasoned buyer looking for homes for sale in North Albuquerque Acres or a first time home buyer looking at Albuquerque uptown homes for sale, there are programs that can be found which offer down payments as low as no down payment, and $500 down payment! FHA still offers loans with a minimum down payment as well.
The important thing here is to do business with a seasoned, local, mortgage company.
I would be happy to offer any assistance needed and offer viable mortgage company options for you and your friends!
by Tim Fish
Monday, January 9, 2012
Hi! It seems Albuquerque Foreclosures are on the move. The Brokers at the Albuquerque Real Estate Group were recently informed that rate of foreclosure activity was up 180% in the month of November. Now that is not the number of people actually in foreclosure, but includes all people that are late in their payments.
So, is this an indication of increased foreclosure activity? Who knows? But what it does highlight is the fact that there is still way too much financial pressure on Albuquerque families.
Many owners that are delinquent on the mortgage payments, or soon will be delinquent, simply do not know who to call to find the proper procedures for selling their homes. Some believe that simply ignoring the issue is acceptable and the bank then will foreclose on their home and it will be done. Is this the wise way to handle this situation? No!
If you, or anyone you know is facing the possibility of foreclosure, whether you need to move a Sandia Heights homes for sale or Downtown Albuquerque condos for sale, call an agent or company that has taken a positive stance toward foreclosure. An agent that is certified to handle short sales would be a very good tool! Each mortgage company handles short sales differently. But there are some guidelines to get you through the maze. We would love to help. At the Albuquerque Real Estate Group we are all certified in the sale of distressed properties.
Please feel confident to contact me at Tim@TimFish.com . I can offer you options! I want to help!
by Tim Fish