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CITY

Select a City: No Preference Albuquerque Rio Rancho Placitas Bernalillo Corrales Algodones Moriarty Cedar Crest Sandia Park Edgewood Los Ranchos De Abq Bosque Farms Los Lunas Belen Meadow Lake Choose a property type: Single Family Townhome/Condo Multi-Family Commercial Land Farm & Ranch

What is your price range? No Minimum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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AREA

Enter an Area:

Choose a property type: Single Family Townhome/Condo Multi-Family Commercial Land Farm & Ranch

What is your price range? No Minimum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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SCHOOL

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Choose a property type: Single Family Townhome/Condo Multi-Family Commercial Land Farm & Ranch

What is your price range? No Minimum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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ZIP

Enter Zip Code Choose a property type: Single Family Townhome/Condo Multi-Family Commercial Land Farm & Ranch

What is your price range? No Minimum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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MLS #

Enter MLS Number: MLS Number: MLS Number: MLS Number:

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MAP

Select a Starting Point: No Preference Albuquerque Rio Rancho Placitas Bernalillo Corrales Algodones Moriarty Cedar Crest Sandia Park Edgewood Los Ranchos De Abq Bosque Farms Los Lunas Belen Meadow Lake Choose a property type: Single Family Townhome/Condo Multi-Family Commercial Land Farm & Ranch

What is your price range? No Minimum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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Short Sales

Albuquerque - This page will describe what a short sale is as well as the in's and out's of short sale transaction. I will give tips to consumers on how to successfully complete a short sale transaction.

Bankruptcy and Foreclosure?

Carlos Martinez

Monday, July 26th, 2010 at 4:28pm. 35 Views, 0 Comments.

I have had many conversations with customers, clients and agents regarding how a bankruptcy affects the foreclosure of a home. Before I give my opinion, I will give my disclaimer. This is not meant to be legal advice and you should seek out an attorney for any legal advice needed.

I recently attended a bankruptcy class taught by one of our local Albuquerque attorneys.  This person was full of information, including how bankruptcy and foreclosure work.  First we will begin with how a mortgage works and the definition.

A mortgage involves two important legal documents: A promissory note and either a mortgage document or deed of trust.

Promissory Note: The promissory note (also called a mortgage note or real estate note) is a note the buyer gives to the lender…

Can you tell me what HAFA is and what it means for homeowners?

Carlos Martinez

Thursday, June 3rd, 2010 at 4:02pm. 32 Views, 0 Comments.

HAFA (Home Affordable Foreclosure Alternatives, is part of the part of the Makeing Home Affordable Programed which helps homeowners during this current economic crisis through short sales and deeds-in-lieu.

The programs gives a $3,000 cash incentive to homeowners to avoid foreclosure and successfully complete a short sale or deed-in-lieu.

Probably the most appealing part of the HAFA program is the lender agrees to forgive the remaining mortgage debt for which the home sells for or for the deed to the home.  Note: New Mexico law allows for a deficiency judgements which can be brought by the lender to the borrower for the difference from the mortgage balance to what the actual selling price was and closing cost.  The HAFA program specifically waives a…

How will Short Sales effect your home’s value?

Carlos Martinez

Monday, May 17th, 2010 at 2:33pm. 58 Views, 0 Comments.

By now most have heard what a short sale* is, know that it can sell for less than what is owed and possibly less than market value.  So how does this effect your home value?

Well it doesn’t…unless it becomes a large part of the market sales in your area. Only then will it have to be considered in determining market value for your home.  For example if there was maybe one or two short sale homes out of 10 sold in the last month, then the market valuation would not consider these sale types as good comparable** properties to your home.  If 4 or 5 homes that sold in the last month were short sales that would represent a large share of the market and would weigh in on determining market value for your home.

I don’t know the formula, stats or information…

First Time Home Buyer New Mexico Mortgage Finance Authority (MFA)

Carlos Martinez

Tuesday, April 20th, 2010 at 7:52pm. 95 Views, 1 Comments.

New Mexico Mortgage Finance Authority also known as MFA is a home buyer assistance program.  Without getting into to much detail the program assist low to moderate income buyers with housing.  There are income limits but is much more flexible than traditional type of financing.  It is possible to get a loan to cover your down payment and closing cost. Although flexible MFA made the below change. 

Sole and Separate-poor credit for spouse. A sole and separate is to disclaim or relinquish his or her right, title and interest to the property. This establishes that it is the desire of both spouses that title to the property be granted to one spouse as that spouse’s sole and separate property. For example: Lee Buyer, a married man, as his sole and…

Nationwide Statistics on Delinquent Mortgages & Updates

Carlos Martinez

Friday, February 5th, 2010 at 11:31am. 56 Views, 1 Comments.

Here are just some quick facts from a member call I was on recently. 

1 out of 10 prime borrowers are delinquent
4 out of 10 sub-prime borrowers are delinquent

Continuing increase in delinquencies, foreclosures, defaults.

Reverse mortgages could be the next subprime...which in my opinion does not seem to dominate NM so should not be much of a problem here.

Lender pursue mortgage payoffs long after homeowners default.

This type of mortgage recovery rose 48 percent to a record $1.01 billion in the first nine months of last year. Now that lenders have had a chance to 'catch up' they are now pursuing deficiencies.

Luxury Homes Deliquency 

Faster growing number of deliquent loans are loans over $1 million. Reasons: Very little
purchase money, no refinance money for…

Short Sale Series Part 5 - Pitfalls

Carlos Martinez

Monday, February 1st, 2010 at 11:52am. 21 Views, 0 Comments.

Buyer's interested in a short sale require an agent who is experienced in the process.  This means the buyer agent and the listing agent need to have intimate knowledge and systems to see the short sale process through.

When hiring an agent to work for you on a short sale, you should ask the following questions.

• How many short sales have you done in the past 12 months?
• How many have failed/been successful?
• What lenders have you worked with?
• What is your typical timeframe from contract to close?
• Do you have any education in the short sale process ie. certification?
• What is your lender follow up like?

There are many more questions you should ask regarding a short sale but these questions will help you to gauge their knowledge of the process.  Click here for a full…

Short Sale Series Part 4 - Selling Process

Carlos Martinez

Monday, January 18th, 2010 at 11:14am. 38 Views, 0 Comments.

As I said in the previous sections of the Short Sale Series, these sale types are a great buying opportunity, but require time and patience.

The seller of a short sale is typically in a more distressed situation.  My job is to help alleviate the stress of selling their home.  Although there are no proceeds going to the seller, the seller must be proactive in the sale as well which also requires time and patience.

The seller is attempting to make good on their debt and find a solution for them and the lender.  Due to some circumstance, possibly loss of income, disability, forced relocation, death of a loved one, not having the ability to pay their bills weighs heavily on the sellers.

I have heard comments from people stating that "these people" should not…

Short Sale Series Part 3 - Buying a Short Sale

Carlos Martinez

Monday, January 4th, 2010 at 8:38am. 45 Views, 0 Comments.

Buying Short Sales -

If a home is being sold for below what the current seller owes on the property—and the seller does not have other funds to make up the difference at closing—the sale is considered a short sale. Many more home owners are finding themselves in this situation due to a number of factors, including job losses, aggressive borrowing against their home in the days of easy credit, and declining home values in a slower real estate market.

A short sale is different from a foreclosure, which is when the seller's lender has taken title of the home and is selling it directly. Homeowners often try to accomplish a short sale in order to avoid foreclosure. But a short sale holds many potential pitfalls for buyers. Know the risks before you pursue a…

Short Sale Listing Close to Being Approved

Carlos Martinez

Tuesday, December 22nd, 2009 at 9:36am. 41 Views, 0 Comments.

View Flyer of 673 Sunny Meadows Rio Rancho NM 87144 - Share With A Friend

Short Sale Series Part 2 - Understanding Foreclosure in New Mexico

Carlos Martinez

Friday, December 11th, 2009 at 10:28am. 37 Views, 0 Comments.

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.  

How are New Mexico mortgages foreclosed?

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 that…

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