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Village at Rio Rancho Tax Increment Development District

The City Council approved on December 16, 2009 a TIDD that will allow one developer to recoup the cost of the infastructure through gross receipts tax generated by the development.  The project will cost approximately 11 million dollars to complete.

The developmet will be near the new Presbyterian Medical Center near Unser Boulevard and Black Arroyo in the southern part of the city.

The new prjoect slated to begin construction July 1st with construction of the buildings to start the first part of 2011 will consist of “a lifestyle retail project consisting of about 300,000 to 400,000 square feet, similar to the project in Albuquerque known as ABQ Uptown; the project will also feature a couple

TIPS TO GET GOOD FORECLOSURE DEALS

Foreclosure rates are spiking and brewing up a hot market for investors and buyers. To get the best deal possible, follow these tips:

1. Timing is everything. In New Mexico borrowers often are given a chance to avoid foreclosure with a redemption period, typically two to three months, to pay off the amount they owe and redeem the property. The borrower may opt to sell the property during this pre-foreclosure stage if they can’t make up their missed mortgage payments. This is typically the best time to strike a deal, as home owners are looking for ways to avoid foreclosure. Another prime time to buy: prior to an auction date.2. Look in the right places. Follow the foreclosure trail. Title companies, banks, purchase

Foreclosure in New Mexico

To fully understand the Short Sale Process it is important to know the potential process of foreclosure.  These answer's below will help you to understand the difficulties and obstacles in the short sale process.  

In New Mexico, the lenders go to court in what is known as ajudicial foreclosure proceeding where the court must issue a final judgment of foreclosure. The property is then sold as part of a publicly noticed sale. The court with jurisdiction over a foreclosure is known as the District Court in the county in which the property is located. A complaint is filed in this court along with what is known alis pendens. A lis pendens is a recorded document that provides public notice

Short Sale Basics 

Short Sale - A simple definition is a sale of real estate in which the net proceeds are short of the balance owed on the property's loan.

In my experience a short sale situation occurs when there is a loss of job, divorce, forced relocation, and illness. This usually stem from loss of home value because if there was value in the home then there would not be a short amount.  There are a number of reasons that a person may be unable to maintain their mortgage payments and has fell on Realtors to help homeowners through these situations and sell their real estate.  Maintaining dual households can drain your finances quickly.  It is important to understand that most people will exhaust all resources trying to pay their mortgage payments

Holiday Wine Tasting Event 

Prepare your palette for a wine tasting event featuring over 55 boutique wines, micro-brewed beers and Albuquerque's finest restaurants.  Entertainment from the Martinitones and DJ Cassyle and a chance to win fabulous electronics from Paradise Village.

The event will be held at the National Hispanic Cultural Center Thursday, December 10 5:30 - 9PM. Tickets will cost $30.

Click here to see the list of participating wineries...

A portion of the proceeds to benefit Watermelon Mountain Ranch